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I wish I knew then what I know now........
Old 05-04-2016, 11:17 AM   #1
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I wish I knew then what I know now........

This forum is a wealth of knowledge and is one of my favorite places to hang out. Having said that, for all you retiree's, what is a couple of things that you would go back and say to your younger self if given the chance?

I'm several years away from ER (currently 41), but would love some input and help in what others may be able to share in hindsight.

Thanks!
Steve
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Old 05-04-2016, 03:29 PM   #2
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I would tell myself to go with indexing from the beginning, and stop trying to find ways to beat the market. It took me a long time to learn that. I would also tell myself stuff like go short Aug 1987, get back in Oct 20, 1987, etc.
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Old 05-04-2016, 03:41 PM   #3
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'Your going to have more disposable income in retirement than you have now, and a higher standard of living!'

Not sure what I would have done with that information, because if I changed anything my future self would tell my present self, 'Save more! You are going to need it!'
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Old 05-04-2016, 04:00 PM   #4
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I was a weird kid I guess.

In my 20's I would say to myself "an old man in his 60's (me) will thank you 45 years from now". And I thank that that 20 year old regularly; he was quite a hoot and forward looking!

What I would've advise that young'n was to be a little less anal and have a better time.
AND TO STAY AWAY FROM A PARTICULAR GIRL!!! (you know who!)
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Old 05-04-2016, 04:10 PM   #5
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Don't sweat the small stuff (financial or otherwise)...
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Old 05-04-2016, 04:11 PM   #6
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AND TO STAY AWAY FROM A PARTICULAR GIRL!!! (you know who!)
Yup, I had that experience too.

Other than that I'd suggest some tweaks but no major changes.
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Old 05-04-2016, 04:17 PM   #7
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Having said that, for all you retiree's, what is a couple of things that you would go back and say to your younger self if given the chance?
Don't kick a fresh turd on a hot day.
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Old 05-04-2016, 04:22 PM   #8
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Great question for sure. Would love to hear what other seasoned experts have to say.
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Old 05-04-2016, 06:22 PM   #9
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Take care of your health and your marriage, the rest is only money...
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Old 05-04-2016, 06:27 PM   #10
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Old 05-04-2016, 06:30 PM   #11
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I would say " Don't waste your money on those personal computers! Just put it into Apple stock and don't sell it until you retire!"
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Old 05-04-2016, 06:36 PM   #12
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Originally Posted by Cassius King View Post
This forum is a wealth of knowledge and is one of my favorite places to hang out. Having said that, for all you retiree's, what is a couple of things that you would go back and say to your younger self if given the chance?

I'm several years away from ER (currently 41), but would love some input and help in what others may be able to share in hindsight.

Thanks!
Steve
I would have told myself not be so damn cautious and scared so that I kept a substantial stash in cash and bonds at an early age when I finally started saving when I turned 31 ( that would be 1981). I missed a good portion of the equities run up of the 80's and 90's because I kept listening to that time Guru's (Grainville et al) who kept saying the end of the world was near and the next depression was just around the corner... Sound familiar?
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Old 05-04-2016, 06:38 PM   #13
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I would tell myself to go with indexing from the beginning, and stop trying to find ways to beat the market. It took me a long time to learn that. I would also tell myself stuff like go short Aug 1987, get back in Oct 20, 1987, etc.
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Old 05-04-2016, 06:55 PM   #14
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Wear eye protection when riding a motorcycle, working with power tools, etc. If you do any of these types of activities without safety glasses, eventually something nasty is going to land in you orb. Thats a guarantee!
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Old 05-04-2016, 07:03 PM   #15
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The only thing I really regret was selling our first home (a townhouse in Huntington Beach, CA) when my company relocated me to N CA. I sold it for what I bought it for ($81,000) and was happy my company paid all the RE fees and closing costs.

Should have rented it and gutted out the negative but interest rates were 10% back then and I wanted to buy another house.

It was worth a quarter million seven years later.
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Old 05-04-2016, 08:43 PM   #16
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If I listened to all the sage advice in my youth I would never have traveled the world, made terrific mistakes and discoveries. I would not change a thing, well maybe one, shoulda choosen rich parents before my birth.

So I would not give any advice to my youger self.

The Columbus method is terrific. Never know what you will discover.
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Old 05-05-2016, 12:37 AM   #17
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Do your traveling while you're still in your 30s- 40s, where you can backpack Europe, climb steep hiking trails, hop on trains and island, run from one scenery to the other with endless energy, hike the Himalayas . ... see the world. Never mind the travel money. Save on the "STUFF" and spend on the "EXPERIENCE". You don't need to accumulate stuff and junk.
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Old 05-05-2016, 12:54 AM   #18
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I love this kind of post. I'm 60, and have friends that are in their 80's. I ask them, what can you tell me, what can I learn from you?

I've never had a mentor in my life. Maybe too dense to learn, I'm not sure. Dad retired at 47 and I think often how he did it 4 decades ago without boards like this. And trust me, he didn't retire rich, he retired "enough". Just like the great Jack Bogle says.

Advice? An earlier comment mentioned more disposable income and higher standard of living being retired. I'd second that without a doubt. Especially someone wise enough to ask the question you asked and to be on this board.

I'm not sure it's linear either. Kurzweil predicts in 12 years, we'll get 100% electricity from the sun. I'm a big fan of the book "The Rational Optimist". Life is certainly grand if one is on the right side of the curve.

OK, so if I were to give one piece of advice (and it's definitely contrarian): eat a WFPB diet for life. I started this a little before your age, and I can't begin to express the benefits, especially when comparing to those around me now. (Please don't flame me folks, sorry).
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Old 05-05-2016, 07:11 AM   #19
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You don't need to accumulate stuff and junk.
+1
It's easier now. Before internet streaming, entertainment was more scarce and we avidly collected things like music and movies (in various physical formats) and books. No need to do that as much, if at all. However, the current pitfall is buying too many gadgets too frequently.

And, of course, LBYM is crucial. At 41, it's time to get real serious. Save and invest to the maximum, but without taking away from spending on what really gives you pleasure in the present. None of us knows how long we have, so you don't want to entirely focus on deferring for the future. It's a balancing act.

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OK, so if I were to give one piece of advice (and it's definitely contrarian): eat a WFPB diet for life. I started this a little before your age, and I can't begin to express the benefits, especially when comparing to those around me now. (Please don't flame me folks, sorry).
Everyone is different. One man's meat is another man's poison -- literally. So an important part of growing old well is finding out what your own body considers healthy in terms of food, size and frequency of meals, etc. And realize that this might change over time, as your body evolves, so you'll need to tweak things.

Avoid the sun or wear sunscreen. Use hearing protection if you know you're going to be exposed to something loud. Don't wear wet sneakers or do anything that might trigger toenail fungus, because you'll likely be living with the unpleasant result for the rest of your life. OK, now I'm sounding like your mother...
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Old 05-05-2016, 07:54 AM   #20
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Don't sweat the small stuff (financial or otherwise)...
And I'd add "..and it's almost all small stuff"
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