What would you have done differently?

WinterHaven

WinterHaven

Dryer sheet wannabe
Joined
May 8, 2014
Messages
24
Location
Villa Rica/Warm Springs
Hi, all,

I know there's another thread about regrets and disappointments, but...

Another question begs to be asked : Looking back at your journey to FIRE; what would you have done differently? And would you have planned anything differently now that you've retired?

Spent more? Less? Put assets in different places? (Hindsight's always 20/20)

Thanks for any insights....

-WH
 
I was too conservative with long term investments. If I can go back in time, I would be more aggressive and long term focused.
 
I wish I'd gotten a clue before age 38. That would have saved me a lot of pain and scrambling.
 
aja8888 said:
I would have done a better job picking a spouse 35 years ago (the first pick).:facepalm:
Click to expand...

A lot of us, me included, had to learn the hard way. Tuition at the School of Hard Knocks can be very expensive.
 
Two changes that would've impacted my savings today:

1) Skip buying the "toy" car when I was 26. I had a perfectly good, paid off, 50k miles car that I traded for a new one for fun. I paid cash, but that was probably $20k that could've been invested ten years ago and have doubled by now, a 8% increase in my total invested assets.

2) Rent for two years in Charleston. I lost $30k in a short-term RE deal (after making $60k in two years prior). I knew the market wasn't great, and I had a "feeling" about my RE agent that I should've listened to... and just rented.

Between those two, that's $50k in my 20s which would've made a substantial difference in where I am today. I'm still on track, but I wish I'd listened to instincts.

I'm wondering if we didn't make a (smaller) mistake buying our current home. It's appreciated quite a bit, and we've got more than 50% equity after only 3 years, but still. Maybe could increase savings rate or use the down payment to boost invested assets...

None of these are going to derail ER for us, thankfully, but I could've done better. Live and learn.
 
I had always wanted a pool. We refinanced and put it in 11 years ago. Two years later DS no longer was playing outside much- he got very academic in his teen years. I like the pool but it's more work than it's worth.
 
Tough question.

First of all-- find a job with a pension plan-- which I did. Best move I ever made.

It's a balance. Ya gotta live, ya gotta contribute for your retirement, ya gotta save for your first house. The first years are tough. Try to do all three. Oh, and then there is the college for the kids. Yeah, lots of expenses over the years.

Now that the market is at a peak, I long for the crashes. Remember, the crashes are where you can make the most money. When everyone else is scared and selling, buy on discount. It only really matters when you sell. And if you sell on UP, you win.
 
The world has changed so much that I would hesitate to change anything. My first marriage produced 2 sons and 5 grandchildren, giving me joy into my golden years.

My current marriage of 19 years is giving me untold joy.

Yes there were some investments that would have done well in hindsight. But who has the benefit of that? The ones I made did well.

Had my first wife not stopped me, I could have been $2 million richer. But what the hell is money anyway?
 
kcowan said:
The world has changed so much that I would hesitate to change anything. My first marriage produced 2 sons and 5 grandchildren, giving me joy into my golden years.

My current marriage of 19 years is giving me untold joy.

Yes there were some investments that would have done well in hindsight. But who has the benefit of that? The ones I made did well.

Had my first wife not stopped me, I could have been $2 million richer. But what the hell is money anyway?
Click to expand...

I applaud your success, but without money, neither one of us would be posting here.;)
 
I wish I had focused on keeping in touch with more friends I have met in my earlier years so that they can still be retirement pals.
 
Not much but there're a few:

1. Getting out of the stock market after a crash many years ago. I was young and scared.

2. Buying tech stocks I didn't understand.

3. Buying Enron!!!! ouch.

4. Buying a 3rd vehicle which we really didn't need. We decided to give it away to my daughter and now we're down to two.
 
1. I would never have darkened the doors of A.G. Edwards back in 1999.
2. I would not have bought so many houses and cars.
 
When we were in the accumulation phase we really were too strict with our spending such that we just did not see the forest for the trees. My DH moved into my house, I had one teenager, and he had 2 teen girls who came every other w/e. The house was perfect for 2 people - it was just too small. 6 years later his job was moved and we were able to buy a big house (for the same price as the one we were in) and it made a huge difference in our overall happiness and marriage. We now had air conditioning, garage, large yard for the dog, no noise from neighbors.

Our marriage became shaky from the stress of working long hours, small space, noise, clearing snow from cars, no air con, etc. We both say it was a huge mistake not to trade up to more space when we married. HUGE. We are lucky we were both stubborn and stayed married.
 
1. I wish I used a broad index fund from the beginning. I lost a bunch in 2008 from being too concentrated in financials.

2. I purchased a house much larger than what we needed. I went on a charity type trip to Guatemala and saw how happy they were with so little. When I got back I immediately sold the mcmansion. Now I am happier than ever in a house that is 1/3 the size of my previous mcmansion.

3. Wish my wife was able to stay at home with the children when they were younger. You cant ever get those years back.
 
1) Kept too much money in company stock acquired through stock options. I should have exercised options quicker, sold the stock immediately, and been more diversified.
2) Built a large new home near the peak of my career. While paid for, we don't need the space and upkeep in retirement. Downsizing and selling takes time away from enjoying retirement travel. Keeping our smaller, paid for, home would have prevented us from acquiring more "stuff" to fill the bigger house which we don't need today.
 
Spent too much money on my first husband's "wants" to try and pacify him. It didn't work. I cringe when I think about how much I wasted on that. Example: when we met, he had a loaded Camaro on order and didn't have a dime to pay for it other than the $2K he was getting on his old car. I took out a $10K loan (this was 1982) to buy it for him.

I should also have been much more demanding when I left my last employer. When I look back at it, I had to fire myself because the boss lacked the guts to do it and I should have made myself a better deal. I asked to be "on the payroll" from 5/9 (last day) to 7/1 and they pretty much terminated me as of 5/9 but paid till 7/1 but that meant less accrued vacation, no 401(k) match, and COBRA instead of company health insurance. They gave me money to fund 1.5 months of COBRA but it was a mad scramble and we're still taking care of little pieces of paperwork to get me on a private plan and DH on his Medicare supplement. And yes, I know that the $$ to fund COBRA were taxed, but we'll have enough out-of-pocket medical and dental expenses this year to go over the 7.5% threshold which applies since DH is 75.

But, what's done is done. I'm free.
 
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