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Subject:  Re: OT: KISS Date:  8/10/2002  1:40 PM
Author:  mazske Number:  73396 of 883346

I would like to discuss what to do if one is behind schedule. All the points in the KISS post are dead-on, but what if you are 40 or 45 and you haven't saved 25 times your income?

In this day and age, it is not unreasonable for the average american to expect to be able to live to the age of 90 or so. If you pay attention to your dietary habits and exercise, it shouldn't be a problem and you may make it to 100.

So, if you are 40 and have zero savings, start saving. If it takes 20 years to amass the 25X total, then you will only be 60. You still have at least 30 years of living.

I think you, CC, have some savings. If nothing else you own rental properties which should be bringing some income in. Don't forget about this.

Do you really want to know how to LBYM? Oh, boy. A few years back I bought a 90K house on a 23K income while supporting a non-working spouse, 2 kids, a 105 pound German Shepherd, a cat and two birds. I have always known how to LBMM, but in this situation I really learned to cut corners and still save some money. If you need the tips, just let me know.

There was a poll a while back as to whether one is FIRE. A disheartening number indicated they were far from it. Is there room for them on this board?

Unless I get some lucky break which I don't forsee happening, I am still 15 years or so away from FIRE. That's ok. I'll just keep plugging away. I may get hit by a car tomorrow and it'll all be for naught. But the way time passes by so quick, 15 years will be here before I know it. There is a light at the end of the tunnel and I plan on reaching it.
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