Red Solo Cup
Inspired
Hopefully I can get there in 9-10 years. Any advice from those who are there on what I need to focus on to maximize my time and investments until then? I plan on fishing a lot and not catering to external obligations, etc.
Great post!It’s hard to give financial advice in such crazy markets, especially without specifics on your financial portfolio and retirement goals now. But if your glide path is 9-10 years out, there are some time-proven tips you can focus on:
Investments: You should start moderating your exposure to risk. Of course, you can’t totally eliminate investment risk, regardless of what some TV/Internet content might say! But as your timeline to recover any losses narrows, your exposure to risk (generally your stocks/bonds mix, as a generic set of terms) should reflect that.
Personal Finances: Eliminate debt, especially the unsecured type. Every outgo item you eliminate constitutes a “raise” to your retirement income. And, although your saving slope may drop significantly in retirement, budget so that you can keep saving for anticipated expenses like vehicle replacement. Something needs to tow that boat!
Personal: Have a plan for personal growth and health maintenance. Do things. Learn. Exercise. Once the influences of work are gone, you’ll be even more able to focus on bettering so many aspects of your life. Don’t just retire… live!
Ive been retired from a long law enforcement career since 2019. I was Chief of Police the last six years, and in the command staff for 14. In a lot of ways I just thought I’d slow down in retirement after 30+ total years of that 24/7/365 ride. And for a little while, I did. But I’m now enjoying a busy life on my terms, and I have found no negatives at all in retiring. I do miss some of the interactions and challenges of a rewarding career I remain very proud of, but those have been replaced by challenges and the fun of “playing in the post-season.” It’s not about money… I make a third of what I did working. But I knew that, planned for it, reduced my income requirements ahead of retiring. If you do the same, and plan what you’re getting to rather than what you’re escaping from, you’ll love it too.
Best of luck to you!
who are you?...lolI have been retired for 25 years now. Currently 52 years old. Strongest suggestion is find something you love that pays back in a rewarding way. I dedicate much of my time to charities I believe in. That last thing you want to do is stop working all together.
Hope it helps.
Batman… hahahawho are you?...lol
Nice work if you can get it, as they say!Batman… hahaha
I was at Microsoft just out of college over the early 90s where they paid is in stock. That stock skyrocketed. Right place right time is all…
Oh what a deception, I thought you were a reverend, the Elvis type.Batman… hahaha
I was at Microsoft just out of college over the early 90s where they paid is in stock. That stock skyrocketed. Right place right time is all…
Hopefully I can get there in 9-10 years. Any advice from those who are there on what I need to focus on to maximize my time and investments until then? I plan on fishing a lot and not catering to external obligations, etc.
Ahhha ...so it's you Bruce...lol..Batman… hahaha
I was at Microsoft just out of college over the early 90s where they paid is in stock. That stock skyrocketed. Right place right time is all…