nest eggs

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Permalink Reply by Bandwidth on August 20, 2008 at 17:51

Hello Colleen

Being wiser is easy in hindsight, we all suffer from that problem :-)

Having your home is a major asset and well done for being there.

The reverse motgage industry is improving, over time, and at a later stage you could ask a financial person about the suitability of this. Given you gave the kids deposits for their own hoses they don't NEED the onne you live in.

Don't know what the value of your home is but maybe downsizing is feasable

As you are over 65 I believe if you work part time and put the money into super you can operate tax free.

It is normally not age that is the problem in growing a nest egg it is often how much risk you are willing/able to take.

The situation is that normally as we get older we get more risk averse yet we have less time to grow the egg. These 2 are at conflict with each other.

20K is almost the minimum you would need to start a share investment and unless you have the knowledge and or the background, either the return would be low or the risk high.

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Permalink Reply by colleen curran on August 20, 2008 at 19:33

My darling Dad who passed away when I was only 9 used to say >"if your foresight was as good as your hindsight you would be better of by a darnsight" ahh how true that saying is.

I am blessed with a wonderful family and I am not really majorly concerned with my day to day living as the 2 eldest girls, who are both single, pitch in to pay the bills for me and will not take no for an answer.

I am feeling so very well since my surgery, today I went for the longest walk I have been on for many years and came home feeling invigorated. I would love to be able to find a part time job, not sure how easy that would be at my age and having been ot of the workforce for 12 years.

Just bandying around ideas and thanks for you ever good thoughts Bandwith

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Permalink Reply by Bandwidth on August 20, 2008 at 19:47

Age is only an issue if you make it that way. There are a number of ways of developing current skills

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Permalink Reply by Bandwidth on August 20, 2008 at 19:52

Age is only an issue if you make it one. The man who started Kentucky Fried did it at 70 years old.

Don't put yourself down, there are others do do that, there are plenty of opportunities to develop relevant skills.

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Permalink Reply by colleen curran on August 20, 2008 at 20:24

Ahhh you are a true inspiration, I was not intending to put myself down, more thinking out loud.

I have held down some high profile jobs and love a challenge, I know I still do have those skills within me. I spent a lot of my working life doing lobbying and advocacy within Government circles and I really enjoyed the mental stimulation.

I would love to write but I do not think I will make a fortune there but it is something which I have always enjoyed doing.

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Permalink Reply by Bandwidth on August 20, 2008 at 20:50

Thinking negative thoughts out loud can become self fulfilling prophesies "but I do not think I will make a fortune there".

Whether you intend it or not, putting yourself down works well.

Negative talk and thoughts will keep "those skills within me" rather than getting them out there where they can do good

If it's something you have always wanted to do and you do it well you CAN make a fortune out of it.

Let the force be with you :-)

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