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URL:  https://boards.fool.com/i-would-like-to-discuss-what-to-do-if-one-is-17669514.aspx

Subject:  Re: OT: KISS Date:  8/11/2002  1:47 AM
Author:  golfwaymore Number:  73448 of 882127

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? This is where alternative investments MAY become viable. Are there any strategies (not get rich quick schemes) that MAY allow someone to (1) accelerate their LBYM and (2) take some risk to reach the point where their anticipated retirement needs can reasonably be met?

Your point is well taken Catherine. Amassing a portfolio of stocks large enough to retire on [comfortably] is much easier if someone plods along at it over 20 years or so.

Real estate can offer extrordinary returns, but I do feel the asset class is setting itself up for a fall in certain parts of the country. Everyone and their brother is "hopped up" on the promises of real estate right now, a sure sign of tough days ahead for some. Even in my area, which typically lags the rest of the country, I'm seeing less value in real estate than before. The spread between the cost of building a home, and the sell price of said home is widening greatly. Not good.

When I say potentially tough days ahead "for some", I mean to point out that if a real estate bubble pops, it wont be the seasoned real estate investors who get burned, it'll be the novice who was looking to get on the wagon. A real estate novice may be wise to make some modest investments right now. But to overweight one's self in the "latest craze" to try to "make up time" or "expedite retirement" late in life is foolish, IMHO. As Art says, "it's never different this time".

I dont know of a speedier way to create personal wealth than to own/operate a succesful business, successful being the operative word here. <grin>

I've known millionares who worked for "the man" and there are alot of them here. But I've never known anyone with enormous wealth who wasnt self enterprising. That's not to say that one has to be "enormously wealthy" to RE. However, I think reasonable people would agree that such a person will accumulate the greatest amount of wealth in the shortest period of time.

Following such a path has it's high risks, however. My father waited until age 50 to start his business which is now failing, and has pretty much sucked his retirement dry.

Golfwaymore



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