Looking forward to retirement? I kind of have mixed feelings about that because I really do love what I do. But, most people I talk to want to retire early. I wonder how many account for the fact that people are living longer and longer these days, so having enough set aside to live on in later years is crucial.
My grandmother on my mom's side passed away in her 100th year and she had sisters who lived even longer, so the situation of outliving my saving could very well present itself to me if I don't start socking more away now!
Leonard McCracken, alive and kicking!
I just read some words of wisdom from a man named Leonard McCracken, a 107 years old gentleman living in Florida and recounting all that he has done over the years to prepare him for this stage of life. Buying and selling real estate was certainly a big part of Leonard's success throughout his life.
In her Yahoo! Finance article, View of Retirement at 107, Jennie L. Phipps shared the following:
McCracken bought and sold 35 houses in his life, including five that he built himself. His son, Bob McCracken, says his parents "always invested in a nice house and that has helped my dad. He is living off the equity in the last home he and my mother owned."
The elder McCracken agreed that buying and selling real estate was a smart move for him. "We didn't make a lot of money in every case," he says. "But we made something and that helped."
What is his advice for current owners of real estate? "It's bad now, but it will come back," he says. "And people who buy now, they'll make a lot of money," he says.
To read the article in its entirety, visit http://finance.yahoo.com/focus-retirement/article/111841/view-of-retirement-at-107?mod=fidelity-livingretirement&cat=fidelity_2010_living_in_retirement
I've got to give it to anyone who makes it 107 years of age, but I greatly admire those who aren't just breathing but thriving and sharing their stories with others. So inspirational.