Quote:
Originally Posted by Crowbob
Excuse me dmc,
May I ask how long a slog it was for you? Targeted mutual funds (2020) are around 15% YTD. Meaning 9 years from now they first become at all useful as income. OP needs to start thinking LONG TERM.
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I got out of school in 1980, I retired @ 50 in 2007. Always saved some but put more away every year. When I turned 40 I figured I didn't want to have to work when I was 55. I then set goals and started tracking my investments and expenses, still do. Things went better than I had though so I quit when I hit 50. My net worth is higher now than it has ever been. Thankfully I changed to more conservative investment's just before I quit working. No debt helped also.
There were many years I saved around 50% of my income, and some years my investments made more than I did. I invested in stocks, bonds, and raw land. A couple years before I retired I also paid off my house so I could reduce the amount I needed to withdraw. I sold off all my residential lots that I had bought in 2005, after the tech boom I did learn that sometimes its good to take some profits when things go up to fast.
