Dear Friends and Family,
Nothing like bad financial news month after month after month to prod a mouse into action. Realizing that stocks and bonds probably will do a lot of ups and downs and not much of anything in the next couple of years, I've been thinking through a different approach.
Step 1: Readjust my expectations on when we'll get to retire. December 2017 just isn't going to happen given The Great Recession. It's more like June 2023 given the current math. That's okay. I just need to manage my expectations.
Step 2: Begin investing the pile of cash we have. Each month we've been saving, but lacking any good options, we've been leaving the money in cash. This time, instead of investing in index funds which probably won't be the answer we need, I'm looking for individual stocks. Yes, I know that's riskier. But, I'm not out there actively trading in odd stocks. I'm looking at companies like Costco and Wal-Mart (neither of which I have purchased, both of which I have looked at).
Step 3: Continue to work on my idea. At best, it's a source of wealth. At worst, it's an intellectual exercise. Hopefully, it'll be cash positive and contribute to our retirement.
Step 4: Look at other ideas. A friend asked if we'd would be interested in investing in his business. We've got a long list of things to look at. But, if at the end of it, it looks interesting, we may.
Step 5: Look at rental properties. Real estate is depressed. Mortgage rates are low. This may be an option if we see something good on the market.
I was super excited about 2017. I'm less excited about 2023. Still, I guess I should consider myself fortunate. Some families when they do the math see a number much larger than 2023 and some families never think to do the math.
Cheers!
mouse
Nothing like bad financial news month after month after month to prod a mouse into action. Realizing that stocks and bonds probably will do a lot of ups and downs and not much of anything in the next couple of years, I've been thinking through a different approach.
Step 1: Readjust my expectations on when we'll get to retire. December 2017 just isn't going to happen given The Great Recession. It's more like June 2023 given the current math. That's okay. I just need to manage my expectations.
Step 2: Begin investing the pile of cash we have. Each month we've been saving, but lacking any good options, we've been leaving the money in cash. This time, instead of investing in index funds which probably won't be the answer we need, I'm looking for individual stocks. Yes, I know that's riskier. But, I'm not out there actively trading in odd stocks. I'm looking at companies like Costco and Wal-Mart (neither of which I have purchased, both of which I have looked at).
Step 3: Continue to work on my idea. At best, it's a source of wealth. At worst, it's an intellectual exercise. Hopefully, it'll be cash positive and contribute to our retirement.
Step 4: Look at other ideas. A friend asked if we'd would be interested in investing in his business. We've got a long list of things to look at. But, if at the end of it, it looks interesting, we may.
Step 5: Look at rental properties. Real estate is depressed. Mortgage rates are low. This may be an option if we see something good on the market.
I was super excited about 2017. I'm less excited about 2023. Still, I guess I should consider myself fortunate. Some families when they do the math see a number much larger than 2023 and some families never think to do the math.
Cheers!
mouse
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