If you are 50 or older, what advise would you give a 40y old

Have a question about your personal investments? No matter how simple or complex, you can ask it here.
Topic Author
InvestoGuy
Posts: 181
Joined: Thu Feb 11, 2010 1:34 pm

If you are 50 or older, what advise would you give a 40y old

Post by InvestoGuy » Wed Jan 05, 2011 1:40 pm

Hello:
If you are 50 or older what advise would you give to a 40 yr old in the following categories:
1. Investing Strategies
2. Happiness
3. What really matters in life?

Imagine you got to be 40 again. How would you relive you life, specifically in the above areas.

Thanks.

Grt2bOutdoors
Posts: 21795
Joined: Thu Apr 05, 2007 8:20 pm
Location: New York

Re: If you are 50 or older, what advise would you give a 40y

Post by Grt2bOutdoors » Wed Jan 05, 2011 1:54 pm

sgajre wrote:Hello:
If you are 50 or older what advise would you give to a 40 yr old in the following categories:
1. Investing Strategies
2. Happiness
3. What really matters in life?

Imagine you got to be 40 again. How would you relive you life, specifically in the above areas.

Thanks.

1. Develop and maintain an Investment Policy Statement. Re-balance annually. Do not buy into fads or "hot" sectors. Avoid financial salespeople - they are only looking out for their self-interest, not yours. Costs matter. Read - don't skim, read investment books by William Bernstein, Larry Swedroe, etc. Save as much as you can - every dollar you spend on frivolous items, is a multiple of dollars you will have less of when you reach retirement. It has been said compound interest is the 8th wonder of the world - I believe it, so do the banks and credit card companies.

2. Follow your passions, just make sure you can earn a living. I like the outdoors, but not enough to give up my job and live in a tent year-round. :lol:

3. For me it's family, friends and good experiences. Everyone has their own definition.

YDNAL
Posts: 13774
Joined: Tue Apr 10, 2007 4:04 pm
Location: Biscayne Bay

Re: If you are 50 or older, what advise would you give a 40y

Post by YDNAL » Wed Jan 05, 2011 2:18 pm

sgajre wrote:Hello:
If you are 50 or older what advise would you give to a 40 yr old in the following categories:
1. Investing Strategies
2. Happiness
3. What really matters in life?
1) Save an amount in Fixed Income vehicles to cover your expenses in retirement.
a. For instance, if over/above projected income, you need $20K to pay the bills, target $500K+ in Fixed income. The rest should be gravy; and don't let the minutae consume you.

2) Grow/strengthen your relationships with your significant other, family and friends.

3) Health.
Landy | Be yourself, everyone else is already taken -- Oscar Wilde

livesoft
Posts: 69647
Joined: Thu Mar 01, 2007 8:00 pm

Post by livesoft » Wed Jan 05, 2011 3:00 pm

Use it or lose it.

ilan1h
Posts: 739
Joined: Mon Oct 22, 2007 3:40 pm

Re: If you are 50 or older, what advise would you give a 40y

Post by ilan1h » Wed Jan 05, 2011 3:18 pm

GRT2BOUTDOORS wrote:
sgajre wrote:Hello:
If you are 50 or older what advise would you give to a 40 yr old in the following categories:
1. Investing Strategies
2. Happiness
3. What really matters in life?

Imagine you got to be 40 again. How would you relive you life, specifically in the above areas.

Thanks.

1. Develop and maintain an Investment Policy Statement. Re-balance annually. Do not buy into fads or "hot" sectors. Avoid financial salespeople - they are only looking out for their self-interest, not yours. Costs matter. Read - don't skim, read investment books by William Bernstein, Larry Swedroe, etc. Save as much as you can - every dollar you spend on frivolous items, is a multiple of dollars you will have less of when you reach retirement. It has been said compound interest is the 8th wonder of the world - I believe it, so do the banks and credit card companies.

2. Follow your passions, just make sure you can earn a living. I like the outdoors, but not enough to give up my job and live in a tent year-round. :lol:

3. For me it's family, friends and good experiences. Everyone has their own definition.
This advice is excellent and is exactly what I would have suggested. I wasted many years on chasing returns, dopey investment schemes, trusing financial advisors etc. The advice that you get on this forum is the absolute bottom line and trumps all the other financial porn that's out there. I would also add that money and career satisfaction are definitely crucial, but not as much so as family and friends. Your family will be with you long after your career is over and regardless of your financial accumulation.

User avatar
Ozonewanderer
Posts: 641
Joined: Mon Apr 12, 2010 12:27 am
Location: Central NY, South FL

Re: If you are 50 or older, what advise would you give a 40y

Post by Ozonewanderer » Wed Jan 05, 2011 3:30 pm

sgajre wrote:Hello:
If you are 50 or older what advise would you give to a 40 yr old in the following categories:
1. Investing Strategies
2. Happiness
3. What really matters in life?

Imagine you got to be 40 again. How would you relive you life, specifically in the above areas.

Thanks.
1. Investing Strategies
I believe that the biggest obstacles to successful investing for us ordinary folks are not saving enough and succumbing to human emotion. So save as much as you can (e.g., max out your 401k), and don't buy in greed or sell in fear.

2. Happiness
Take more risk in life that you do with your investments.

3. What really matters in life?
Family and friends. I did not spend enough time or attention to family and I do not have enough friends.

Stonebr
Posts: 1472
Joined: Wed Jan 21, 2009 11:19 am
Location: Maine

Post by Stonebr » Wed Jan 05, 2011 4:12 pm

1. In addition to the usual Boglehead homilies, I think it should be pointed out that there's a period of time between 40 and 60 when you have some life experience, you know something about investments and business, and you've got some money. If you ever want to take on extra -- but calculated -- risk in investing or business, this is the time to do it. When you're younger, you're too foolish and you've got no money. When you're older, you lose your taste for risk.

2. If you aren't already married to the right person, find her/him.

3. Health.
"have more than thou showest, | speak less than thou knowest" -- The Fool in King Lear

bttn_2010
Posts: 214
Joined: Sat Nov 27, 2010 6:21 pm

Post by bttn_2010 » Wed Jan 05, 2011 4:37 pm

I just want to say "thank you" to those who posted. I'll be 40 next year and I find this immensely valuable.

rokidtoo
Posts: 391
Joined: Sun Jul 04, 2010 7:53 am

Re: If you are 50 or older, what advise would you give a 40y

Post by rokidtoo » Wed Jan 05, 2011 4:58 pm

1. Investing Strategies: Saved a little more. Known what an investment strategy was.
2. Happiness: Enjoying life. Building/nurturing relationships.
3. What really matters in life? Happiness.

S&L1940
Posts: 1658
Joined: Fri Nov 02, 2007 11:19 pm
Location: South Florida

Post by S&L1940 » Wed Jan 05, 2011 5:15 pm

grow old slowly; have an attitude of gratitude - learn to appreciate the here and now; be kind to others.

and take care of your body - it needs to last a long time

smarmy, I know, but it is the best I can do after 71 years

there is much more but I will let the experts chime in...
Don't it always seem to go * That you don't know what you've got * Till it's gone

User avatar
JDaniels
Posts: 245
Joined: Sun Sep 14, 2008 7:30 pm
Location: Ponte Vedra Beach, FL

Post by JDaniels » Wed Jan 05, 2011 5:23 pm

bttn_2010 wrote:I just want to say "thank you" to those who posted. I'll be 40 next year and I find this immensely valuable.
I agree. I'm 42 and wisdom from others who have already "been there and done that" is very helpful.

Great post sgajre! Thank you!
"The poor long for riches. The rich long for heaven. But the wise desire tranquility."

User avatar
fandango
Posts: 514
Joined: Wed Dec 08, 2010 6:44 pm
Location: Greater Atlanta area

Post by fandango » Wed Jan 05, 2011 5:46 pm

1. Live below your means, learn all you can about investing, and spend
time managing your wealth.

2. My best decision was to marry my wife, and she is my greatest source of happiness.

3. Jobs, careers, prestige, and power are very temporary. Good friends and family will always there. Put friends and family first.

User avatar
dmcmahon
Posts: 2081
Joined: Fri Mar 21, 2008 10:29 pm

Post by dmcmahon » Wed Jan 05, 2011 7:12 pm

Take care of your health. Exercise and eat right.

Find a wife before it's too late.

Live below your means.

Try not to worry too much.

Eureka
Posts: 1123
Joined: Thu Apr 05, 2007 10:24 pm
Location: Illinois

Re: If you are 50 or older, what advise would you give a 40y

Post by Eureka » Thu Jan 06, 2011 5:19 am

sgajre wrote:Hello:
If you are 50 or older what advise would you give to a 40 yr old in the following categories:
1. Investing Strategies
2. Happiness
3. What really matters in life?

Imagine you got to be 40 again. How would you relive you life, specifically in the above areas.

Thanks.
1. Save more money, and do it automatically. Keep costs low. Max out a Roth IRA. Money is not an end in itself, but having enough can free you to pursue what really matters and to help people you care about.

2. Don't make yourself miserable worrying about things that probably won't happen.

3. Prioritize family and friends. Everything else is just decoration.

User avatar
celia
Posts: 9991
Joined: Sun Mar 09, 2008 6:32 am
Location: SoCal

Post by celia » Thu Jan 06, 2011 5:40 am

If there is something you want to do before you die, do it now.

(Not everyone gets to live until 50!)

neverknow
Posts: 2392
Joined: Fri Jun 05, 2009 4:45 am

Post by neverknow » Thu Jan 06, 2011 7:13 am

..
Last edited by neverknow on Mon Jan 17, 2011 5:17 pm, edited 1 time in total.

User avatar
praxis
Posts: 525
Joined: Sun Sep 06, 2009 1:51 pm

Post by praxis » Thu Jan 06, 2011 8:04 am

Excellent responses and I agree that this forum contains the basics for investing success. And you must have enough discipline to save so your money can work for you, rather than the other way around. Being frugal creates the wealth to invest. Being a careful investor grows savings so early retirement and financial security come true for you.

The aphorism that appears more and more in my life in recent years is "Don't let perfect be the enemy of good". Gratitude for a good situation benefits you more than regret over that situation not being perfect.

Happiness is an acquired skill. What you include in your life determines your level of happiness. People, pastimes, career, attitudes, values, perspective, even to a degree, health, are mostly choices. You do have a lot of control over these elements and can pick the ones that work for you. We mostly live our lives according to the stories that each of us carry in our head about "what's so". If you don't like what you're getting back, look at what you're giving out.

Cherish your moments. They are fleeting.

MP173
Posts: 2028
Joined: Fri Dec 07, 2007 6:03 pm

Post by MP173 » Thu Jan 06, 2011 8:17 am

There always seems to be considerable angst about each gateway birthday (30's, 40's, 50's etc) and the "getting old" syndrome.

I really dont buy it (I am 55), but might experience it on my 60th!!!

The 40's for me were a great decade. Someone told me 15 years ago that the 40's were really a great decade and they listed the following reasons:

1. One should be settled into a career by that time.
2. One might have their personal relationships in order, often with children that are of the age that allow certain amount of interaction and growth.
3. Often, one's financial matters are strengthening, stabilizing, and moving forward.
4. One might be past the "wild days" of youth and while understanding we are not immortal, one's health is relatively good.
5. One's level of maturity should be kicking in.

In other words, there should be quite a bit of positive things occuring which allow you to take advantage of your situation. I realize this is NOT always the case. Personally for me, there was an enormous personal setback, which completely changed the course of my life.

Despite that the above 5 items were pretty much in order and this was a decade of lots of positive things.

Rather than offer advise for the items you listed, I would simply recommend that you ask your self where you want to be at the end of the decade (age 49) in several categories and plan to get there.

Are you happy? Are you healthy? Is your career fulfilling? Personal relationship? Family?

What can you do to influence those things which are important to you.

Consider this half time of a sporting event and you are making adjustments to your game plan. Sorry for the sporting analogy, but that is how I look at it.

Did I do this at age 40? No.

Do I do it now? Yes, pretty much every January 1st.

Good luck and enjoy your decade.

Ed

sschullo
Posts: 2520
Joined: Sun Apr 01, 2007 8:25 am
Location: Rancho Mirage, CA
Contact:

Re: If you are 50 or older, what advise would you give a 40y

Post by sschullo » Thu Jan 06, 2011 12:31 pm

InvestoGuy wrote:Hello:
If you are 50 or older what advise would you give to a 40 yr old in the following categories:
1. Investing Strategies
2. Happiness
3. What really matters in life?

Imagine you got to be 40 again. How would you relive you life, specifically in the above areas.

Thanks.
No much at 40, but if I were 10, I would studied harder at school and spend more time at the public library.
Public School K-12 Educators: "Ask NOT what your annuity sales person can do for you, ask what you can do to be a Do-It-Yourselfer (DIY)."

royal4
Posts: 37
Joined: Sat Aug 25, 2007 5:49 pm

#1

Post by royal4 » Thu Jan 06, 2011 1:07 pm

1. family, friends

2. Health, health, health -- without that you have nothing else.

3. I think one day we all look around and wonder "why do I have all this STUFF" -- buy only what you really need, retire early, enjoy life.

4. When you buy something think how long am I going to use this... if something like a lawnmower and you'll use it many many many years, buy the best.

5. play more than you work

6. Oh yeah, exercise, eat right, stay healthy.

one of my favorite sayings:

When I was in school, my teacher asked me what I wanted to be when I grew up. I told him "happy". He said I didn't understand the assignment.. I told him he didn't understand life…



now if I would only listen to my own advice!!!!!! LOL

fishndoc
Posts: 2327
Joined: Wed Apr 11, 2007 11:50 am

Post by fishndoc » Thu Jan 06, 2011 1:13 pm

I would fish more, and worry less...
:)
" Successful investing involves doing just a few things right, and avoiding serious mistakes." - J. Bogle

DouglasDoug
Posts: 124
Joined: Mon Aug 18, 2008 5:38 pm

Post by DouglasDoug » Thu Jan 06, 2011 5:02 pm

Prepare for more sorrow, regret, and existential angst.

four7s
Posts: 262
Joined: Thu Oct 23, 2008 11:37 am

Post by four7s » Thu Jan 06, 2011 5:18 pm

A partner/friend/lover/confidant is the most important part of your life. Find the right person and nurture that life together. The rest is easy if you
'can't wait to get home each day.'

PS--And it ain't gonna be perfect, but it will be worth every minute.

Karamatsu
Posts: 1348
Joined: Mon Oct 27, 2008 2:42 am

Post by Karamatsu » Thu Jan 06, 2011 8:38 pm

What a cool thread for the beginning of a new year (or anytime). Maybe I'll go against the grain a little bit just to provide counterpoint.

1. Investing Strategies

Invest in yourself. Your greatest asset isn't your bank balance, your brokerage account, your home, or your net worth generally. It's you... what you know, what you can do, what experience you have to draw on. Don't skimp on that.

On the other hand, try to save 50% of what you earn, and look for the wisdom on this board. Having tried a lot of different approaches to investment and speculation over the years, I can easily look back and see how much farther ahead I would be if I'd simply chosen a balanced AA, written an IPS, executed it, rebalanced (this alone would have had a huge effect), and gotten on with other things. One of the finer things I remember (from Valuethinker) was that in personal finance it's more important not to be 100% wrong than it is to be 100% right. Slow and steady...

But don't make accumulation the focus of your life. Life is what the accumulating is for. So don't forget to live or it will all be for nought.

2. Happiness

True happiness comes from within and isn't dependent on any outside circumstances, things, or people. Not even on your own health or life. It's a thing of the mind, essentially a skill that you can develop. Time and effort invested in that will never be wasted and is one of the few things you can count on.

3. What really matters in life?

Compassion, love, developing your mind. Once you know what really matters (and what doesn't), everything flows from that: your relationships with people, your happiness, what you accomplish in life... Viktor Frankl survived Auschwitz and came out having decided that what matters most is having meaning in your life.

Oh, but don't be gloomy. It's an adventure!

User avatar
stratton
Posts: 11083
Joined: Sun Mar 04, 2007 5:05 pm
Location: Puget Sound

Post by stratton » Thu Jan 06, 2011 9:27 pm

Increase your saving rate by a few percentage points.

Paul
...and then Buffy staked Edward. The end.

david99
Posts: 667
Joined: Sat Mar 03, 2007 11:56 am

Post by david99 » Thu Jan 06, 2011 10:22 pm

I would ask myself what I wanted and set goals so that you are not in your fifties saying, "I wish I had done ..... " or "I wish I hadn't done ......" You don't want to have a bunch of regrets when you are in your fifties. Once you get into your fifties it's really too late to make career changes or have a family (although some people do) so if you want to do it this is the time.

Basically I would say to take good care of your health, surround yourself with good people, take good care of your finances, make good career choices, and have fun (not necessarily in this order).

User avatar
cinghiale
Posts: 1237
Joined: Wed Oct 17, 2007 4:37 pm
Location: A latare Mare Nostrum

Post by cinghiale » Fri Jan 07, 2011 7:07 pm

There have been some outstanding postings on this thread. I will add a few "extras" rather than repeat what has been already been covered.

Reading: Devote time (here's a hint: pull the plug on the Cable TV and simply don't turn the monster on) to a predetermined list of good books. Read widely. Read deeply. Read works that you know you will disagree with. Mark up your books with underlinings, notes, and highlightings. Make them your own. Keep and uncomplicated journal or listing of the books you have read.

Travel: If you have a desire to cross cultures and see the world, do it before health or intertia or other commitments make it difficult to do so. Buy experiences instead of stuff. Travel outside of your comfort zone. Get out of the bubble. Meet people, engage them in good conversation, and be a good listener. Americans are known as talkers, with an opinion about everything. Break the mold and be a listener and a learner. Make friends with people from other countries.

Morality: The hardest lesson I have had to (slowly) learn. Don't judge others. Free yourself from the need to make value judgments about the the lives, lifestyles, or opinions of others. Be liberated from the need to evaluate, analyze, and/or judge others. It took me until well-past-50 to realize how little I knew about what another human being thinks. Accept first. Ignore the need to compare, contrast, and judge.

I think you will arrive at 50 with more wisdom, depth, happiness, and contentment with a bit more attention to these three suggestions.
"We don't see things as they are; we see them as we are." Anais Nin | | "Sometimes the first duty of intelligent men is the restatement of the obvious." George Orwell

caaaad
Posts: 210
Joined: Wed Jul 22, 2009 1:45 pm

Post by caaaad » Sat Jan 08, 2011 7:41 am

Don't leave anything on the table as you will be answering those questions for someone else before you know it. Respect your hard earned money and don't allow greed to take what you work for a lifetime for. Its what you do with family, friends and loved ones that matters. Balance is the most sought after dynamic in living life. Never become complacent and realize that life is not about goals, instead a journey. Feel the fear and do it anyway. Accept that life is all about change. Be an observor and witness of your own life and thank God for what shows up. You will learn far more from petty dictators and mistakes than your successes. Learning mistakes are part of life. Lastly listen to the song," The Climb' by miley cyrus and live it.

bearcub
Posts: 1017
Joined: Sat Mar 08, 2008 7:54 am
Location: Twilight Zone

Post by bearcub » Sat Jan 08, 2011 7:50 am

..
Last edited by bearcub on Thu Jun 23, 2011 8:13 pm, edited 1 time in total.

User avatar
TrustNoOne
Posts: 787
Joined: Thu Oct 30, 2008 7:09 am

Post by TrustNoOne » Sat Jan 08, 2011 9:02 am

bearcub wrote:Stay married to a good spouse.

Live below means.

Don"t worry about things you have no control over

See my signature down below
Interesting sig line. Is that advice to someone under forty or a cautionary tale? (I don't think Jim Morrisson made it to forty.)

Dandy
Posts: 6079
Joined: Sun Apr 25, 2010 7:42 pm

Post by Dandy » Sat Jan 08, 2011 9:52 am

1. Investments - follow the advice of using broad based low cost index funds, avoid overexposure to company stock, save at least 10% of pay.
2. Avoid debt when possible. Tough decisions re kids college, size of house, how much to pay for car etc easy to "justify" debt instead of scaling back.
3. Get your health on track, proper weight, no smoking, exercise, eat right get regular health check ups.
4. Happiness to me involves people. After my wife's serious illness I really appreciated a modest dinner out with her and the kids. I mean I sat back and smiled instead of worrying why the waitress hadn't brought the menu. Family vacations have always been a source of joy and fond memories for all.
5. Happiness has been preserved by aggressive saving, no debt and a nice nest egg. Through illness and loss of two jobs we didn't have the added stress of low assets or high debt.

40 is a great age - each age has potential for joy if you are healthy. Just had my first grandchild - :)

callen
Posts: 32
Joined: Wed Apr 21, 2010 7:47 am

Post by callen » Sat Jan 08, 2011 10:09 am

It is always great to learn from the wisdom of experience. I just turned 30 this year and found this thread to be very interesting. The title is a bit misleading as I found it to be insightful to more than just 40yo.

MP173
Posts: 2028
Joined: Fri Dec 07, 2007 6:03 pm

Post by MP173 » Sat Jan 08, 2011 10:21 am

I have really enjoyed reading this thread...and nominate it for the "Thread of the Month".

Great wisdom contained here.

Ed

simpleinvesting1
Posts: 102
Joined: Tue Jan 27, 2009 9:47 am

Post by simpleinvesting1 » Sat Jan 08, 2011 2:49 pm

A lot of good advices from the real experience!

I am really enjoying this thread and thank you all very much for sharing your wisdom.

Dingle
Posts: 541
Joined: Sun Feb 07, 2010 9:10 am

Post by Dingle » Sat Jan 08, 2011 2:58 pm

This is a really good thread. Keep them coming.

User avatar
midareff
Posts: 6465
Joined: Mon Nov 29, 2010 10:43 am
Location: Biscayne Bay, South Florida

Re: If you are 50 or older, what advise would you give a 40y

Post by midareff » Sat Jan 08, 2011 5:50 pm

InvestoGuy wrote:Hello:
If you are 50 or older what advise would you give to a 40 yr old in the following categories:
1. Investing Strategies
2. Happiness
3. What really matters in life?

Imagine you got to be 40 again. How would you relive you life, specifically in the above areas.

Thanks.
Great question........ let me take a stab at this from an even later in life perspective as I just turned 63 and can thankfully remember both 50 and 40.

1. Investing strategy...... low cost index funds rebalanced to stay with your asset allocation. Learn to live on less without credit card debt (interest) and pay for your trips, toys and other life rewards after your savings percentages have been met. I can think of no better reason for working other than not having to one day.

2. Happiness...... you spend most of your waking hours working. Don't do it at a job you don't like or are not comfortable with whether it be the job, location, or other factors. Family is and will always be there. Your children, your wife, your parents/brothers and sisters are always more important. Remember, your children will pick your old age home so it is important to be nice to them LOL. Do not forget the time to be comfortable with yourself and your religion. Do not forget contiunueing education, it is rewarding and increases your value to everyone from family to work.

3. What really matters in life? Family, honesty, ethics, your reputation, fairness, and see #2.

User avatar
JDaniels
Posts: 245
Joined: Sun Sep 14, 2008 7:30 pm
Location: Ponte Vedra Beach, FL

Post by JDaniels » Sun Jan 09, 2011 2:33 pm

Thanks to all of the 50+ Bogleheads. I'm really enjoying this thread!
"The poor long for riches. The rich long for heaven. But the wise desire tranquility."

caaaad
Posts: 210
Joined: Wed Jul 22, 2009 1:45 pm

Post by caaaad » Sun Jan 09, 2011 3:05 pm

Learn the art and wisdom of reframing.The glass is half full. The cloud has a silver linning. Seek the lesson in all that crosses your path. Close your eyes and believe you have won the lottery. Imagine the feelings that come over you. Then make a choice to subsitute your winnings with your relationship with your higher power. Everything of importance is already inside yourself if you quiet your mind and feel the power of God within you. Become more child like to become closer to God.Life is not complicated to kids. Be a positive person who learns to forgive forget and move on. Choose to live and be like God.

marco100
Posts: 763
Joined: Thu Mar 01, 2007 7:09 pm

Re: If you are 50 or older, what advise would you give a 40y

Post by marco100 » Sun Jan 09, 2011 4:18 pm

InvestoGuy wrote:Hello:
If you are 50 or older what advise would you give to a 40 yr old in the following categories:
1. Investing Strategies
2. Happiness
3. What really matters in life?

Imagine you got to be 40 again. How would you relive you life, specifically in the above areas.

Thanks.
1. Accumulate as much wealth as possible.

2. Accumulate as much wealth as possible.

3. Accumulate as much wealth as possible.


It's scary being in your 50's and knowing that you don't have enough money. Don't let it happen to you.

Ron
Posts: 6575
Joined: Fri Feb 23, 2007 7:46 pm

Post by Ron » Sun Jan 09, 2011 4:34 pm

Ignore the movie, "The Bucket List".

Assuming you have the time, the health, and the money to do what you want to do at this age - do it.

For example (and a classic post-retirement goal), if you want to travel, do it now.

If you want that sports car, get it now (I got mine at the age of 54, and yes, I still enjoy it :lol: ).

I use these two examples just from my life. At the age of 63, I don't have a bucket list. I've pursued my bliss along the path of life. Once you get to the age you think you are going to do something special, you may not have the health, the money, nor the time left to do something you have always wanted to do. How many folks just drop dead, with no indication of any illness or involved in a tragic accident? Our "tomorrows" are not guaranteed.

Don't wait till tomorrow to possibly fulfill a passion, if you have the ability to do so today. Smell the flowers while you still can. You will have the memories when you get older and may not be able to achieve your dreams.

One last thing. If those you love (and more importantly, love you) are still around, tell them you love them - every day, if possible. Tomorrow may never come.

Just my $.02, based upon my life.

- Ron

LynnC
Posts: 797
Joined: Thu Mar 01, 2007 7:01 pm
Location: California

Post by LynnC » Sun Jan 09, 2011 4:40 pm

Learn to laugh and laugh some more. A good sense of humor will take you a very long way in life.

Worry less about most things that never happen anyway. (I've had to work on this one!)

Live beneath your means so you may obtain financial freedom.

Be as good to others as you can be. You will be rewarded in ways you never thought of. That being said, sometimes you have to avoid people who are toxic to you.

Do all things to stay healthy.

If I were turning 40 again, I'd do exactly the same thing, except I would have come to Vanguard sooner.

No regrets here,
LynnC

User avatar
Toons
Posts: 13427
Joined: Fri Nov 21, 2008 10:20 am
Location: Hills of Tennessee

Post by Toons » Sun Jan 09, 2011 5:36 pm

1.Investing strategy -Stick to Index funds ,keep it simple
2.Happiness and what really matters in life ,read the quoted passage below
borrowed from Crystal Boyd from the book Midnight Muse:

"Dance Like Nobody is Watching"
We convince ourselves that life will be better after we get married, have a baby, then another. Then we are frustrated that the kids aren’t old enough and we’ll be more content when they are. After that we’re frustrated that we have teenagers to deal with. We will certainly be happy when they are out of that stage. We tell ourselves that our life will be complete when our spouse gets his or her act together, when we get a nicer car, are able to go on a nice vacation, when we retire.

The truth is, there’s no better time to be happy than right now. If not now, when?

Your life will always be filled with challenges. It’s best to admit this to yourself and decide to be happy anyway. Alfred D Souza said, “For a long time it had seemed to me that life was about to begin – real life. But there was always some obstacle in the way, something to be gotten through first, some unfinished business, time still to be served, a debt to be paid. Then life would begin. At last it dawned on me that these obstacles were my life.”

This perspective has helped me to see that there is no way to happiness. Happiness is the way. So, treasure every moment that you have. And treasure it more because you shared it with someone special, special enough to spend your time … and remember that time waits for no one…

So stop waiting until you finish school, until you go back to school, until you lose ten pounds, until you gain ten pounds, until you have kids, until your kids leave the house, until you start work, until you retire, until you get married, until you get divorced, until Friday night, until Sunday morning, until you get a new car or home, until your car or home is paid off, until spring, until summer, until fall, until winter, until you are off welfare, until the first or fifteenth, until your song comes on, until you’ve had a drink, until you’ve sobered up, until you die, until you are born again to decide that there is no better time than right now to be happy…

Happiness is a journey, not a destination.

Thought for the day :
Work like you don’t need money,
Love like you’ve never been hurt,
And dance like no one’s watching.

Author: Crystal Boyd , 1998. From the book: “Midnight Muse.”

:D :D :D :D
"One does not accumulate but eliminate. It is not daily increase but daily decrease. The height of cultivation always runs to simplicity" –Bruce Lee

User avatar
ruralavalon
Posts: 17147
Joined: Sat Feb 02, 2008 10:29 am
Location: Illinois

Re: If you are 50 or older, what advise would you give a 40y

Post by ruralavalon » Sun Jan 09, 2011 6:39 pm

InvestoGuy wrote:Hello:
If you are 50 or older what advise would you give to a 40 yr old in the following categories:
1. Investing Strategies
2. Happiness
3. What really matters in life?

Imagine you got to be 40 again. How would you relive you life, specifically in the above areas.

Thanks.
1. Save more, and use broad market indexes.
2. Take it easy.
3. Family, friends.
"Everything should be as simple as it is, but not simpler." - Albert Einstein | Wiki article link:Getting Started

HotRod140
Posts: 86
Joined: Tue Apr 15, 2008 12:24 pm

If you are 50 or older, what advise would you give a 40y old

Post by HotRod140 » Sun Jan 09, 2011 6:51 pm

Jealousy of what others have will consume you. Be happy with your situation. The only thing that matters anyway is health and family and of course the Jets making it to the Superbowl.

User avatar
paulob
Posts: 1408
Joined: Tue Feb 20, 2007 7:54 am

Post by paulob » Sun Jan 09, 2011 7:35 pm

1. Investing Strategies: I think the primary strategy is to take ownership and responsibility for your investments. E.G. it's OK in your twenties to rely on other's advice, but in your forties you need to educate yourself enough to make your own investing strategies, even if that is how to pick an adviser and have them follow your strategy.

2. Happiness: The key is that your happiness is up to you. More money, stuff, fame, etc. won't in themselves create happiness.

3. What really matters in life? Making a difference. Whether that is loving your spouse, kids or others in your family; or providing a casual conversation with an elderly person, encouraging a child to challenge themselves or their thinking, etc.

If I had to simply my answer, it would be love. Loving yourself, loving others and being loved by someone.
Paul

User avatar
cinghiale
Posts: 1237
Joined: Wed Oct 17, 2007 4:37 pm
Location: A latare Mare Nostrum

Post by cinghiale » Sun Jan 09, 2011 7:43 pm

This thread continues to get better and better...
"We don't see things as they are; we see them as we are." Anais Nin | | "Sometimes the first duty of intelligent men is the restatement of the obvious." George Orwell

User avatar
CaliJim
Posts: 3050
Joined: Sun Feb 28, 2010 8:47 pm
Location: California, near the beach

Post by CaliJim » Mon Jan 10, 2011 2:16 am

..
Last edited by CaliJim on Thu May 26, 2011 12:48 am, edited 1 time in total.
-calijim- | | For more info, click this Wiki

Xenophon
Posts: 58
Joined: Fri Sep 14, 2007 9:39 pm
Location: Colorado

Family time

Post by Xenophon » Mon Jan 10, 2011 7:42 pm

Your children and your spouse will cost you more and reward you more than any other investment you could possibly make. At the end tho, you do not want to look back and regret not spending more time with them.
I've seen the blogsphere, and it looks nothing like Hamlet.

protagonist
Posts: 6093
Joined: Sun Dec 26, 2010 12:47 pm

Re: If you are 50 or older, what advise would you give a 40y

Post by protagonist » Tue Jan 11, 2011 1:16 am

InvestoGuy wrote:Hello:
If you are 50 or older what advise would you give to a 40 yr old in the following categories:
1. Investing Strategies
2. Happiness
3. What really matters in life?

Imagine you got to be 40 again. How would you relive you life, specifically in the above areas.

Thanks.
I'm over 50.

1. Investing Strategies: Don't spend more than you have. That's the main one. Don't follow trends. Pay off your credit card every month. Don't read or listen to any media finance gurus (Money Magazine, CNBC, etc....). Stay balanced and on target with a plan based on your tolerance for risk. To quote Douglas Adams, "don't panic".
2. Happiness: Don't get married. (hope you are laughing....) Mainly I think happiness is probably a good 80% genetic. You either get it, or you don't, regardless of circumstance.
3. What really matters in life?: Not money. Balance (and I don't mean portfolio).
How would I relive my life? See #2 re:marriage (sorry, all you other guys, but I'm far happier now than I was when I was hitched).. Oh, and I'd have more kids. Other than that, I think I got it right the first time.

pochax
Posts: 1364
Joined: Tue Oct 21, 2008 11:40 am

Post by pochax » Tue Jan 11, 2011 10:49 am

as an almost 40-something, i too appreciate all the commenters on this thread....a "golden" thread! Thank you Bogleheads! :D

Post Reply