I was hoping to retire at 50, but my once-comfortable nest egg which was originally $500,000 ( all in stocks, and leveraged I'm afraid) has dwindled by half.
So I will have to work longer.
I have reconsidered what kind of retirement I will have, and I plan to buy an energy efficient small condo in the city centre, and forgo a car. I will live simply and frugally.
Timeline is ten years from now, and i will be putting my earnings of the next decade back on the market. You'd think I might be afraid to, but I believe in ten years things will have recovered and I will be glad I did. However, I WILL NOT LEVERAGE.
learned my lesson there...and it was quite a painful lesson.