Make a good deal of money and save and invest half of it. Do that and you're probably going to be ok.

How old are you what do you earn and how much are you able to retain each month?

 

My strategy is to put a lot of money into a self invested pension via salary sacrifice ( e.g. before any of it is taxed ).
The investments are in a variety of asset classes to mitigate risk.
Reducing spending is crucial.

 

I am going the route of rental properties. In my area I can get a house for 20-40 thousand and rent it out for 700 plus. Reinvest the rents and write off everything possible. I am looking at getting one every 4-5 years and I believe 6 total units/properties would be a good base income for retirement assuming no mortgage.

Also have been reinvesting profits of my business back into it to build up inventory.

Finally buying well known stocks with a 3 percent or better dividends.

 

I am going the route of rental properties. In my area I can get a house for 20-40 thousand and rent it out for 700 plus. Reinvest the rents and write off everything possible. I am looking at getting one every 4-5 years and I believe 6 total units/properties would be a good base income for retirement assuming no mortgage.

.

That was my blueprint to retirement, been retired for 8 years now. my tenants literally bought me the homes they are living in, bunch of fools

 

Go to Mr. Money Mustache's website and read up on that exact topic.

Regarding investing, unless you want to get into a fair amount of research, and even then, the Boglehead's 3 fund portfolio is a good one. You can find it on their forum.

If you want to retire in 16 years (assuming the money is invested well and you get fairly close to historical returns), you'll need to save and invest 50% of your income. If you save 67%, you can retire in about 10 years.

Investment returns certainly are important, but nothing is as important as your savings rate (percentage of money saved compared to your income).

 

My great grandmother used to say:

If your out go
Exceeds your income
Your upkeep
Will be your downfall.

I save 1/2 of my income every month.
I'm in the process of researching/building my first 4 plex.
5.7 years to payoff, I'm expecting 7.

As they say:
It's not what you make, it's what you keep.

 

We bought land in an unincorporated area in a decent school district close enough in for work commutes. We put 5 brand new mobile homes on the property and paid them off including land and utilities in less than 6 years. Now we have a good cash flow income that increases with inflation. Upkeep has been minimal and we have never had a vacancy longer than 1 week.

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Oh look, another OP that poses a question and then doesn't come back to respond to follow up comments and questions. That's becoming a thing around here lately.

 

I was curious and found the OP has started six threads and ignored all six once she did her original post. Looks like I have another poster to ignore now. : (

 

Not enough information.

 

Invest in your property. Don't give your money to an 'investor'. Too risky and not worth the stress.

 

I retired at 55. I am 69 now. Here is what I know:

1. You don't need a big nest-egg, you need an income source after retirement, an income stream you can manage.

2. I have sold investments. Never let anyone sell you and investment. Never buy an investment over the phone. Invest only in things you know yourself. So if you are a contractor, for instance, invest in rental property. If you are a medical person, consider genetic technology or drug companies depending on what you know.

A. No funds, stocks, bonds, etc. These are designed to make the seller money not you.

B. If you ever find some paper investment you like, please ask this in these words: "What is the load?". A load is all the money you are giving them that does not go into your investment itself. This means their fees.

Remember: Income stream, stay with what you know.

 

A. No funds, stocks, bonds, etc. These are designed to make the seller money not you.

Go to the Bogleheads forum and tell them that you can't make good money with stocks and bonds using a passive, buy-and-hold approach. If they're kind, they'll only tell you that that's BS.

 

Have your library get you the book “Early Retirement Extreme”, sample at:
https://www.scribd.com/doc/156367201/Early-Retirement-Extreme

Check the related discussion forum:
http://forum.earlyretirementextreme.com/index.php?sid=fc2910e3947af308e2a353274ae96f69

And perhaps:

https://www.early-retirement.org/fo...rg/forums/register.php?a=act&u=32170&i=ecb04505289a2adf1b9d3ddbc265939d077afe5a

I used to visit these retirement forums frequently, up until the wife and I were both retired.

Our core plan was low-end rentals. If instead of the “donations” to social security the same money had gone to more rentals, we would be MUCH better off.

 

For a different perspective remember this. A low cost of living is a different form of wealth.

Just use common sense and don't let someone sell you something you don't really need.

 

Today anyone can buy any amount of stock they can afford for less than $10 commission. That stock can grow and pay you dividends. If you believe it is no longer sound, you can sell it for sell less than $10. That is pretty cheap. So you can buy a 100 shares of any company and the person facilitating the transaction only makes less than $10.

 

My thoughts invest in things to pay your bills first.
Like invest in the companies you use to offset your bills.
Then invest in monthly REITs then invest in business development companies. Then invest in top dividend payout of banks you use. Then invest in companies you are forced to do business with . Like banks credit card companies etc. Then once you replaced all that I think you need to reinvest 10% of the dividend until you have money to burn.

 

I would invest in a company stock with the ticker "O" then spend 500 on a ira for a tax advantage invest in a 5 year CD in it and roll that sucker over.
Also add other cds ever so often as well.
Here is a list of stock tickers I think work.
O, ACP, ONB, PGZ research it your self though .

Of course you will owe taxes on it but that's what have to deal with anyways.

 

I would invest in a company stock with the ticker "O" then spend 500 on a ira for a tax advantage invest in a 5 year CD in it and roll that sucker over.

Also add other cds ever so often as well.

Here is a list of stock tickers I think work.

O, ACP, ONB, PGZ research it your self though .



Of course you will owe taxes on it but that's what have to deal with anyways.

I think you suggested invest in a few REITs and in CDs.

I believe a better recommendation is to purchase the SP500 (let's spread the risk around) and when that hits a certain dollar level, diversify into REITs and other individual stocks and bonds.

And CD simply don't return enough for a young family..



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Wife and I retired at 54, we did without new cars/trucks, expensive cable bills, ate at home mostly, never used a credit card but we did lay away things(back when stores offered that). Saved and invested our incomes, you can invest easily on dividend paying stocks (try computershare.com). We did this for about 15 years and only changed our spending habits a little after that. Granted we were lucky, bought our first house during a housing slump in Texas, sold for a tidy profit, we were heavily invested during the great stock market runs in the early 90s, so our plans worked well for us.
But we could not have done it if we were not willing to give up a few things and stop trying to keep up with the Jones. I think we were called frugal and maybe cheap for a while!

 

Start investing early.

 

Use robinhood on your phone to buy stock for free

 

i retired a little early. but after, i wasn't happy with where and how fast my money was going. used car paid for. little house paid for. no credit card debt.
utilities, health care, food, etc. was the thing taking it's toll on my retirement.
so i went "shopping".
did my 'due diligence' for central and south america and asia. having lived in europe i knew how expensive it was already. africa too unstable like central america and now south america.
after many weeks of homework, i settled on the philippines. found a nice little rural farming community and couldn't be happier. my money goes as much as ten times farther. great for food, transportation, housing, health care and medicines.
example: cholesterol capsule cost me $9US each in the states. here, same name brand cost me just under $1US each. no prescription needed. just walk in the pharmacy and tell them what you need.
food of course is cheap as is housing. many here grow their own fruits and vegetables. so do we. electric bill here (with same computer, stereo, microwave, etc.) $30. $100 in the states.

so, maybe you should do some thinking 'outside the box' in order to retire early and maintain a nice standard of living.

 

May I ask what country you settled on and what area?

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well, the country is in my info on each post (Philippines).
and i am in a small farming community in a very small, but very fertile valley south of the Visayas.

 

Normally I wouldn't ask off topic questions, but the op is absent and not bloody likely to return, so...

I was in the Phillipines back in the 70's while I was in the navy. I didn't care for Olongapo, but that's was during its "serving" the military days.

I loved the country side and jungle towns, the country people were great. They were very nice and hard working folks.

Excuse me if this has been asked before, but how did you come to live over there? I used to enjoy an exchange rate of 13 pesos to 1 US dollar, with a sorry sorry store selling a beer for 1 peso, you can see the exchange rate was pretty good.

Just curious how you got to move there, care to share?

 

You can do it a different ways.

Ideally you have other sources of income to reach the point where they cover your expenses. Ideally when your retired you would have no Liability debt which would reduce your expenses.

The best way to to save as much as you can and invest in income producing assests like cash flow postive real estate, blue chip dividend stocks, businesses where you do little to no work, ect.

To speed up the process you can use debt to buy income producing assets and have the income that the asset is producing to pay itself off. An example would be a rental property where tenants pay rent or even when the market goes down and blue chip dividend stocks go down and the dividend is enough to cover the debt payment. Of course once the debt is paid off you own that asset free and clear and you can live off the income or you can use that income to help service more debt and buy more assets. Just educate yourself on taking calculated risks so you don`t loose a ton of money or buy the wrong type of asset that could make you poor.

 

nearly a month and no response from the op. guess they didn't like the answers here.

 

i have been here before. now the exchange rate is 49-50 pesos=$1
8oz pepsi in a glass bottle $0.20. fresh snack breads $0.025 each. etc.
seen a good bit of the world thanks to the military.
liked it better here than most everywhere else.
met a couple of nice filipina girls online.
came back over for a month and checked things out.
where i am, nice farming community in a small valley with beautiful hills all around.
the woman i married here is a farmer thru and thru. love it! and her!
fresh fruits and vegetables at the house we built and her farm up in the hills.
absolutely no regrets after being here almost 2 years.

 

here is a retirement plan that will allow you to maximize your investment:
5 years before i retired (early), i downsized and began living on just what my soc sec would be each month. no car payments. no plastic card payments. sold the big house i didn't need leaving me enough to pay cash for a smaller place that better fit what i could manage easily in retirement.
it worked. i learned to live well enough for sure. saved funds went into investments and preparation for retirement in full. no real sacrifices at all as i kept my goals in clear sight.
now all the funds other than soc sec is money for me to have fun with. no more financing as there is more than enough to pay cash.
best of all, no cares at all about any credit ratings!!
and careful with drawls of investments have minimal tax impact.
and when i moved here i sold the smaller house and it more than payed for the new house and property here.
not saying that will work for everyone, but it worked for me.

 

We use real estate for our retirement. We have rentals and have had a few bad renters but not as many as you may think. One of the most lucrative things we have done is purchase medium sized plats of land and cut it up into smaller plots and sell it seller finance. We make the mark up on the division (smaller plots have a higher per acre value) and we make money on the finance. Of course this requires some money to start with but it is very lucrative.

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I cannot disagree. I know several that have done right with rental property. That said it is not for everyone. It is not for hands off people. You can lose all or most of your profit having someone else manage it. Not for me!