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Thread: Getting A Life (Your Money or Your Life sequel)

  1. #21
    Senior Member JaneV2.0's Avatar
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    A friend's daughter went through flight attendant training with a sixty year old, and in one of my last gigs, a fellow trainee was sixty-five, so getting hired late in life (i was over fifty when hired for three of my last jobs) isn't unheard-of. I was lucky to have had full medical coverage when I retired from corporate employment at 47.
    So many people are locked into dismal employment by their need for medical insurance. For awhile, I thought that had changed.

  2. #22
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    I always thought that if you scrape off the self-helpy twelve-steppery and New Age candy coating, YMOYL and it’s offshoots is really about applying basic financial concepts to obtain and maintain the capital needed to optimize your level of material freedom. Detailed accounting, cashflow forecasting, return on investment, marginal utility and other ideas that any corporate finance type would be familiar with. I suspect that it was aimed more at an audience that would be loath to think they were acting like any competent CFO would. They probably wouldn’t have gotten the same response with a book titled “What would ExxonMobile do?”.

  3. #23
    Senior Member JaneV2.0's Avatar
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    One of my grandfathers was a CFO. I probably would never have picked up that book...

  4. #24
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    The saving/simple living part in the book just seems to follow the same line as most of the other voluntary simplicity type books. I remember reading YMOYL way back when for the financial information. I'm a saver, but investing is not my really my forte. Now, I'm thinking it may be too late for any real long-term investing and that maybe I should just concentrate saving.
    To the world you may be one person, but to one person you may be the world. - Anon.

    Be nice whenever possible. It's always possible. - Dalai Lama

  5. #25
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    Happystuff, if you are a good saver, you are halfway there to being a good investor!
    Try automating an investing account with Vanguard index funds-- Google the lazy three fund portfolio at Boglehead forums.

  6. #26
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    Thanks Tybee. Most of the investments I've actually looked into have want initial investments of a couple thousand dollars... that just isn't possible for us. I do have the standard 401K and IRA setups, but beyond that, I'm not sure that anything else would be feasible. While I am a saver, but the income is... let's just say it is "limited".... lol. At this stage I try to put whatever I can into our IRAs and keep regular savings available for kids-in-college expenses.
    To the world you may be one person, but to one person you may be the world. - Anon.

    Be nice whenever possible. It's always possible. - Dalai Lama

  7. #27
    Senior Member catherine's Avatar
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    Quote Originally Posted by happystuff View Post
    Thanks Tybee. Most of the investments I've actually looked into have want initial investments of a couple thousand dollars...
    I'm far from an expert, but I'd check into that. I do Tybee's "lazy Vanguard" strategy for my Roth, but I did kick-start it with the maximum allowable. However, there have to be mutual funds with minimum investments. I wouldn't give up if I were you. I'm 65 and am looking forward to being able to let my money sit for hopefully a couple of decades.
    "Do any human beings ever realize life while they live it--every, every minute?" Emily Webb, Our Town
    www.silententry.wordpress.com

  8. #28
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    Thanks, catherine. And again, Tybee. I will look into the "lazy Vanguard".
    To the world you may be one person, but to one person you may be the world. - Anon.

    Be nice whenever possible. It's always possible. - Dalai Lama

  9. #29
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    Quote Originally Posted by happystuff View Post
    Thanks, catherine. And again, Tybee. I will look into the "lazy Vanguard".
    Here's a good place to start your reading:
    https://www.bogleheads.org/wiki/Thre...azy_portfolios

    Good luck!

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