Back a few years, I was lamenting about "The Plan"...socking away more than I could afford in a 401K and watching it turn south.
Well, it seems "the Plan" has worked out after all.
I am retiring this June, hopefully leaving much free time for paddling, hiking, sailing, skiing...
It took quite a bit more effort than I imagined. We (MDB and I) bought a total of 27 rental units over the last 9 years. Most needed extensive renovations, most are finally up to date and occupied. I have had to sacrifice many, many months to rehab more kitchens and bathrooms than I can count on my fingers and toes!! Ultimately, it was worth it, and the income stream is more than adequate. Should be inflation proof for as long as we want to retain the properties.
My investments have recovered, with the help of my financial wiz daughter...69% return since Jan 2013!! Yeah, I'm pretty happy about that. No need to tap any of it just yet, but with careful and aggressive management, the grandkids will be very well endowed.
And I have a couple guys in training to take over my responsibilities at work, and I'll retain my interest in the company until something big hits, or doesn't, either way the company goes on and continues to provide employment and product.
So that's it...sock away more than I could afford for 20 years, lose a bunch of it, recover slowly over the last ten years while busting my knuckles and guts doing rehabs.
How are everyone else's plans going? Are you sacrificing current enjoyment for future security? Or maybe found a better way to balance these things?
Well, it seems "the Plan" has worked out after all.
I am retiring this June, hopefully leaving much free time for paddling, hiking, sailing, skiing...
It took quite a bit more effort than I imagined. We (MDB and I) bought a total of 27 rental units over the last 9 years. Most needed extensive renovations, most are finally up to date and occupied. I have had to sacrifice many, many months to rehab more kitchens and bathrooms than I can count on my fingers and toes!! Ultimately, it was worth it, and the income stream is more than adequate. Should be inflation proof for as long as we want to retain the properties.
My investments have recovered, with the help of my financial wiz daughter...69% return since Jan 2013!! Yeah, I'm pretty happy about that. No need to tap any of it just yet, but with careful and aggressive management, the grandkids will be very well endowed.
And I have a couple guys in training to take over my responsibilities at work, and I'll retain my interest in the company until something big hits, or doesn't, either way the company goes on and continues to provide employment and product.
So that's it...sock away more than I could afford for 20 years, lose a bunch of it, recover slowly over the last ten years while busting my knuckles and guts doing rehabs.
How are everyone else's plans going? Are you sacrificing current enjoyment for future security? Or maybe found a better way to balance these things?
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