Comments on: Going from thirties to fourties http://www.1stMillionAt33.com/2009/08/going-from-thirties-to-fourties/ A site to share my tips, tools, and humble thoughts on the journey to wealth Sun, 02 Oct 2011 19:26:45 +0000 hourly 1 http://wordpress.org/?v=abc By: Investing 101 http://www.1stMillionAt33.com/2009/08/going-from-thirties-to-fourties/comment-page-1/#comment-5542 Investing 101 Sat, 14 Nov 2009 06:28:51 +0000 http://www.1stMillionAt33.com/2009/08/going-from-thirties-to-fourties/#comment-5542 I had my personal epiphany upon entering my thirties. I spent a good deal of my twenties chasing get-rich-quick schemes, only to turn 30 in pretty much the same financial situation as I was ten years earlier. Of course, I now have the "wisdom" that comes with those experiences. The trick is, of course, turning that "wisdom" into financial gain... I had my personal epiphany upon entering my thirties. I spent a good deal of my twenties chasing get-rich-quick schemes, only to turn 30 in pretty much the same financial situation as I was ten years earlier. Of course, I now have the “wisdom” that comes with those experiences. The trick is, of course, turning that “wisdom” into financial gain…

]]> By: Kenny http://www.1stMillionAt33.com/2009/08/going-from-thirties-to-fourties/comment-page-1/#comment-5439 Kenny Sun, 06 Sep 2009 19:15:51 +0000 http://www.1stMillionAt33.com/2009/08/going-from-thirties-to-fourties/#comment-5439 You have written well about 30's to 40's. But, I formulated what life is all about for each decade and I have designed the 'macro' element of this life when I was 23-25 and followed it closely. The pattern of getting married at a certain range of years, having kids by a certain age, jumping onto a career, building the savings, dumping money into major goals/retirement, investing wisely and doing asset allocation along the way, HAS WORKED OUT FABULOUS. My point is, that doing things when nature recommended it based on other successful patterns is very critical to 'major success'. Exceptions to these rules does not mean death, or failure, it just means less freedom. For example, not having a decent fund for college education will be less freedom for the child, or not having enough money for a car, will mean buying a used one, or not having enough at age 60-65 will mean compromise in 'travel plans during retirement', or aching bones when you play soccer with your 10 year old at age 50 or...... Timed events are defined by other successful people around each of us. We should learn, and not too carried away with 'I know what I need to do, and I like my way'. Nothing wrong with the 'freedom of that thought', but see the roadmap of that thought through a friend/relative/neighbor and you will quickly know what is right and not so right about it. Plan each phase (decade) with major events you want to accomplish, and you will wind up executing a good life for yourself and your kids, but more importantly for your 'OWN' future. KKP You have written well about 30′s to 40′s. But, I formulated what life is all about for each decade and I have designed the ‘macro’ element of this life when I was 23-25 and followed it closely.

The pattern of getting married at a certain range of years, having kids by a certain age, jumping onto a career, building the savings, dumping money into major goals/retirement, investing wisely and doing asset allocation along the way, HAS WORKED OUT FABULOUS.

My point is, that doing things when nature recommended it based on other successful patterns is very critical to ‘major success’. Exceptions to these rules does not mean death, or failure, it just means less freedom. For example, not having a decent fund for college education will be less freedom for the child, or not having enough money for a car, will mean buying a used one, or not having enough at age 60-65 will mean compromise in ‘travel plans during retirement’, or aching bones when you play soccer with your 10 year old at age 50 or……

Timed events are defined by other successful people around each of us. We should learn, and not too carried away with ‘I know what I need to do, and I like my way’. Nothing wrong with the ‘freedom of that thought’, but see the roadmap of that thought through a friend/relative/neighbor and you will quickly know what is right and not so right about it.

Plan each phase (decade) with major events you want to accomplish, and you will wind up executing a good life for yourself and your kids, but more importantly for your ‘OWN’ future.

KKP

]]> By: Tim http://www.1stMillionAt33.com/2009/08/going-from-thirties-to-fourties/comment-page-1/#comment-5434 Tim Thu, 03 Sep 2009 19:12:59 +0000 http://www.1stMillionAt33.com/2009/08/going-from-thirties-to-fourties/#comment-5434 this read depressingly. aren't you supposed to buy a sports car or have an affair with a 19 yr old? Instead, you are acting like you've actually reached your mortality. this read depressingly. aren’t you supposed to buy a sports car or have an affair with a 19 yr old? Instead, you are acting like you’ve actually reached your mortality.

]]> By: Shogun @ Financial Samurai http://www.1stMillionAt33.com/2009/08/going-from-thirties-to-fourties/comment-page-1/#comment-5421 Shogun @ Financial Samurai Sun, 30 Aug 2009 16:55:00 +0000 http://www.1stMillionAt33.com/2009/08/going-from-thirties-to-fourties/#comment-5421 Time accelerates the older we get. Frugal, are you still short the market? If so, sorry. However, I think you're time will finally come! Shogun Financial Samurai - "Slicing Through Money's Mysteries" Time accelerates the older we get. Frugal, are you still short the market? If so, sorry. However, I think you’re time will finally come!

Shogun
Financial Samurai – “Slicing Through Money’s Mysteries”

]]> By: Alan http://www.1stMillionAt33.com/2009/08/going-from-thirties-to-fourties/comment-page-1/#comment-5412 Alan Mon, 24 Aug 2009 22:51:12 +0000 http://www.1stMillionAt33.com/2009/08/going-from-thirties-to-fourties/#comment-5412 Your article on this blog is fantastic. Well done! I'm a big fan of your blog and be sure to keep up the great work. I plan on returning and linking to your site. Sincerely, Author The Alan Haft Blog, Your article on this blog is fantastic. Well done! I’m a big fan of your blog and be sure to keep up the great work.
I plan on returning and linking to your site.

Sincerely,
Author
The Alan Haft Blog,

]]> By: David @ DINKS Finance http://www.1stMillionAt33.com/2009/08/going-from-thirties-to-fourties/comment-page-1/#comment-5398 David @ DINKS Finance Wed, 19 Aug 2009 18:16:44 +0000 http://www.1stMillionAt33.com/2009/08/going-from-thirties-to-fourties/#comment-5398 As someone who is in their early 20's, I can't even imagine being 40. But then again, college flew by me in the blink of an eye. Time is the most precious resource, even without thinking of it financially. But when you think about compounding and what that can do for you financially, it becomes an even greater commodity. You make a great point - start early, or at the very least start NOW. -DC <a href="http://www.dinksfinance.com" rel="nofollow">DINKS Finance</a> As someone who is in their early 20′s, I can’t even imagine being 40. But then again, college flew by me in the blink of an eye. Time is the most precious resource, even without thinking of it financially. But when you think about compounding and what that can do for you financially, it becomes an even greater commodity. You make a great point – start early, or at the very least start NOW.

-DC

DINKS Finance

]]> By: Mike Hunt http://www.1stMillionAt33.com/2009/08/going-from-thirties-to-fourties/comment-page-1/#comment-5394 Mike Hunt Sun, 16 Aug 2009 03:22:40 +0000 http://www.1stMillionAt33.com/2009/08/going-from-thirties-to-fourties/#comment-5394 Frugal, Point taken. We are in early mid-life now. But I must say your heavy focus on saving so much is truly an Asian mentality (I'm Asian as well so am not looking down by any means), most of my friends in the US don' think like this! -Mike Frugal,

Point taken. We are in early mid-life now. But I must say your heavy focus on saving so much is truly an Asian mentality (I’m Asian as well so am not looking down by any means), most of my friends in the US don’ think like this!

-Mike

]]> By: DR Wright http://www.1stMillionAt33.com/2009/08/going-from-thirties-to-fourties/comment-page-1/#comment-5393 DR Wright Sat, 15 Aug 2009 05:08:29 +0000 http://www.1stMillionAt33.com/2009/08/going-from-thirties-to-fourties/#comment-5393 People have a hard time trusting, themselves or experts. They see experts will rip them off and they don't have enough education on the issues to make their own good decisions. Dr. Letitia Wright The Wright Place TV Show http://wrightplacetv.com www.twitter.com/drwright1 People have a hard time trusting, themselves or experts. They see experts will rip them off and they don’t have enough education on the issues to make their own good decisions.

Dr. Letitia Wright
The Wright Place TV Show
http://wrightplacetv.com
http://www.twitter.com/drwright1

]]> By: traineeinvestor http://www.1stMillionAt33.com/2009/08/going-from-thirties-to-fourties/comment-page-1/#comment-5390 traineeinvestor Fri, 14 Aug 2009 08:46:06 +0000 http://www.1stMillionAt33.com/2009/08/going-from-thirties-to-fourties/#comment-5390 Aging is part of life. Sadly, it is not something we can prevent, but we can make sure we use the time we have as best we can. Saving early and always for retirement (and other purposes) is fundamental - having the means to support yourself without relying on a faltering welfare system or securing employment late in life will go a long way to providing peace of mind and the confidence to deal with whatever problems life throws your way. Put differently, it is morally better and financially safer to create your own nest egg than to rely on future taxpayers (who are already burdened with burden of servcing the debts built up by the current and previous generations). Aging is part of life. Sadly, it is not something we can prevent, but we can make sure we use the time we have as best we can.

Saving early and always for retirement (and other purposes) is fundamental – having the means to support yourself without relying on a faltering welfare system or securing employment late in life will go a long way to providing peace of mind and the confidence to deal with whatever problems life throws your way.

Put differently, it is morally better and financially safer to create your own nest egg than to rely on future taxpayers (who are already burdened with burden of servcing the debts built up by the current and previous generations).

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