Hi all
I have been meeting people through this guy I am seeing who are RETIRING at 53 etc.. He worked at a company his whole life and has a pension too and big 401k. They are still laying off there and every so offten a friend gets laid off and gets a financial package. Everyone there is apparently cashing out the pension vs taking payments. Many also have huge 401ks..He does not feel he has enough to retire but wow if I had what he has and the rentals paid off I would be GOLDEN. He is 53 I am 43..
I WANT TO RETIRE EARLY (or be in a position to do where work is a choice not a necessity or work part time) I just want to have more time and freedom. CHOICES
I have come to the conclusion that to feel free I need to add to my goals to pay off the house ASAP. Big goal.. $300k...and involves some creativity and NEW thinking but I am going to figure something out. I can not pay off the house or reach my goals with saving $500-$1500 a month.. need to step back and get a whole new paradigm
I really do not feel comfortable relying on the real estate income I will (not now but later) have with the house debt still there and not working liek I do now. I know I will want the house paid off to relax.
Someone died today.. the realtor who sold me the 6 homes died before they closed and the attorney on both just died yesterday. Makes me think of how short life is.
Life is short. I want to seize the moment and use more of it. Spring is starting and I want to feel FREE.
I am ok working super hard for a few years, taking some risks if I can get what I want later.
I hesitated writing because it feels like I am setting a goal that I am not sure (yet) I can meet and in a public way but I have done 'hard things' before and I am sure I can think of a new paradign/way/idea to make this happen..
Prayers for creativity, opportunity and logic to avoid too much risk .
Someone died, insights and no retirement w house debt
April 1st, 2014 at 06:32 pm
April 1st, 2014 at 07:41 pm 1396381270
You stretched too far, lost everything, and got way behind in growing your wealth. You will never catch up by deleveraging. In your situation, you need leverage, used WISELY, to achieve your goals.
April 1st, 2014 at 08:51 pm 1396385508
April 1st, 2014 at 08:56 pm 1396385808
Right now, I'm 58. I took a huge loss with a divorce, but I think I would have died younger if I'd stayed married.
I live in earthquake country and I still want the damn house paid off.
April 1st, 2014 at 08:59 pm 1396385951
April 1st, 2014 at 09:36 pm 1396388173
Leveraged assets or a business where you manufacture something, sell something, or leverage other people's time will get you where you want to go. As my father also used to say, you will never create significant wealth by selling your time alone, no matter what your hourly rate.
April 4th, 2014 at 02:00 pm 1396620036
April 5th, 2014 at 01:14 pm 1396703681