- Joined
- Nov 26, 2017
- Messages
- 1,518
My retirement had to be all on me. I was always self employed. I purchased real estate as I went as a retirement plan. There are risks in that! But it has the effect of compounding. Easiest to manage is farm land. Next is commercial property but the risks are higher. Worst are apartments or single family houses. Too many turnover costs. Rather late in life I started buying dividend paying stocks as I got tired of dealing with renters. Someone on here said they lost their retirement in the 2008 crash. How? You don't loose if you don't sell at the low point! Don't go into equities if you are someone that runs from fear. Markets go up & down. Ride the waves. The very best time to buy is when the market crashes. The only purchases I've made this year were in March, have done nicely. On average the S&P has grown about 10%/year for a long time. But it has fallen some years. Still way better than any savings acct, CD, or bonds. If you don't want to manage your account just buy ETFs. I wouldn't let a broker manage my account because their fees eat a big hole in the compounding. Above all, diversify. BTW I'm 78 took SS @ 70 because I didn't need the $ to live on. I made sure everything was paid for before retirement. I won't live forever so I give my kids and G-kids $ every year. I have Schwab accounts for the G-kids. There should be enough $ by the time they reach college age to do whatever education they want. Or to save it for the future. Or buy fast cars and women.
I won't go into it, but I am saddened that someone would have such a shallow view as to make this statement. I lost my business, which lead to loosing our home. I lost the majority of my savings trying to keep my business going and my employees working as they had no place to go in California as there were no jobs.