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Subject:  Re: Late Start but still want to retire early! Date:  3/24/2004  9:39 AM
Author:  pekinrobin Number:  158902 of 876075

You have a nice income, and you are starting to save, so I'll let the experts on investing weigh in on that -- sounds like you are on the right track. Don't feel overwhelmed; many people cannot start saving until middle age because of the cost of buying a home, starting a family, putting the kids through college.

The main investment I would recommend to you is knowledge of how to live on much lower expenses. It sounds like you have already gathered quite a bit of this information already, since you are now paying $1000 a month toward your debt and still accumulating savings -- excellent! Many people with higher incomes don't get anywhere because they haven't any clue, or any support among their peers, for cutting back expenses. Yet with an income as high as yours, if you invest in such things as reading a few books on savings, reviewing the On Topic posts and FAQ of the Living Below Your Means board, etc. you can quickly become a saver instead of a debtor.

Also, I don't know where you live, but my philosophy was to not consider myself out of debt until I had a paid-off house in a safe neighborhood where I am not assessed property tax. Some areas have property tax on all homes, so you can't do anything about that, and other areas have such high prices on homes that your best bet might be to accept that, when you retire, you will have to sell the home, get your equity out of it, and re-locate to someplace cheaper. Keep an open mind, and consider it. You don't have to do it just because you consider it. But once you don't have to work, you have a world of options open to you that are not open if you have to live in an area that provides jobs. For instance, my area is beautiful and has a very low cost of living but the job market is poor.

OK, I'll quit rambling now because I am anxious to read other suggestions, which I think will be a bit more technical!
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