Business Week recently ran a spread on how to retire. Within the section, it listed what to do at various life stages if you want to retire well/early. I thought I'd share some of these thoughts with you and give my comments on them. Today, we'll be covering what they recommend you do in your 40's:
- Feed your escape fund.
- Monitor your investments.
- Refine your retirement plan.
- Vacate your vacation home.
- Get to work.
My thoughts on these:
1. Start feeding it before you get to 40!
2. Of course. This isn't good advice just for your 40s -- you should be watching your investments at every age.
3. If you haven't yet, now's a good time to set your retirement number.
4. I don't know about this one. They want you to by a retirement home in your 40's? Doesn't seem like a good financial move to me.
5. Man, they've got you fully into retirement -- suggesting you set up a home office and start getting used to using it. A bit too early for that too, isn't it?
I love reading what financial advisors have to say.
I've been in training with T Harv Eker and Loral Langemeier for the last 15 months. I just did an early retirement. I'm not talking about receiving retirement money. I'm talking about building a cash machine/system setting up vehicles to work in place of me. Yes, against Loral's teaching I did partner with a man, new hubby. But, hubby joined my with my business. Actually, I setup a few basic systems and he's been runnng with my business.
I would really like to focus on not looking at the debt but rather setup a new income.
Learn ways to invest any and all money you have. Equity in your home is far less expensive to use than borrowing from a bank ie a credit card. You should be able to find investments that pay more than taking a chance on stocks.
Posted by: TheBarbieWhe | July 26, 2007 at 05:02 PM