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Old 21-11-2012, 06:05   #91
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Re: Are you over 50? Need advice.

Just passed my 55th year. At 32 my daughter was not yet in pre-school. Here is what I would go back and tell my 32-year-old self if I could.

1. Family and friends are more precious than any possession or experience could ever be. Remember that, if nothing else.

2. You only live once, you only get one body. TAKE CARE OF IT! Watch your diet, protect your skin from the sun, don't get so damned fat!

3. Live within your means. You don't need to keep up with the Jones's. Stop thinking in terms of what's the nicest, biggest, best that I can afford, and start thinking in terms of what's the smallest, cheapest, least that I really need. (Actually, my wife and I have done fairly well in this regard.)

4. Save what you can. The power of compound earning is amazing. Do the math some time. Don't chase the latest hot investment fad. Learn about asset allocation and the risk-vs-reward continuum. (Again, done fairly well here.)

5. Finally, and maybe most important, you only go around once. While you need to plan and save for the future, you also need to enjoy the present.

Good luck!

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Old 21-11-2012, 08:48   #92
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Re: Are you over 50? Need advice.

One thing is for sure is almost nothing is that important that you need to know before you need to know it. Most of all that really is important you won't know why until you get there. Knowing "what" is easy but knowing "why" is hard.

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Old 21-11-2012, 08:54   #93
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Re: Are you over 50? Need advice.

People, could you please be civil with each other? I have been forced to moderate this thread. I don't like doing that.
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Old 21-11-2012, 09:59   #94
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Re: Are you over 50? Need advice.

Originally Posted by sentientcj View Post
I turn 32 today. Mixed feelings about it.

If you could, what would you tell your 32 year old self today that you might not have known then.

From 20 years down the road....

First ask yourself...where do you want to be in "X" years? Then, make a plan to be there. Execute the plan. Dreaming does not make anything happen -- effective action does (or inversely, ineffective action does -- I think this is how most of the world lives). We absolutely can and do, intentionally or not, create our own reality -- what reality do you want? Since you are posting on a cruising forum I assume your plans have something to do with cruising?

I had a an objective, and a plan, starting in my 20's. By 32 I had made good progress. I would not change a lot between 32 and 52, but I did make a couple of missteps.

Now, I am more careful about thinking how my choices may effect my lifestyle. My goal now is just not to screw up what I've got. I was not as careful in my 30's, but fortunately I did not make any decisions which were unrecoverable.

A few key decision subject areas:

Marriage. Not necessarily a bad thing, but sure can derail your plans. My first, brief, marriage would have if I had stayed in it. Marriage can of course contribute positively to your plans as well (as did my second marriage).

Financial. Think about how you plan to sustain your future goals and how you plan to, realistically and sustainably, finance them. Do the math and be careful with your financial resources. So called "investments" may not only deplete capital, but may take your life in unexpected directions. I've had business ventures do both and I have had them make strong positive contributions too. Looking back at least one of them was clearly a bad, and goal incompatible, decision, but it took me a couple of years to recognize that. Another contributed strongly to meeting my goals. Always think about your exit strategy and where this decision may take you.

In my case, I planned to change my lifestyle (I don't like the word, or the concept, of "retirement") by the time I turned 40. I made a couple of missteps, but overall stuck with the plan. I'm glad I did. I am reminded of this every time I see aging cruisers struggling just to make it down the dock. I sure am thankful I punched out to go cruising when I did.

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