LOL Elo, you crack me up.
Nope, I am not the richest person here. I am sure of that, but we have done a good job of investing. My wife and I have been investing since the day we got married and I am hoping that it will pay off in in 15 years when I turn 55. I don't want to work past 55. I started investing at 22, but I was given some poor advice that I have since rectified, but not completely.
When you are right out of college and starting to invest, you think you have plenty of time to start. 15 years ago, IRA's & 401K's were huge because you could gain a pre-tax benefit. Unfortunately, I feel that tax rates are going to do nothing but go up in the future, so I am really over-taxing myself be being involved in these type of investments. That, coupled with the rule that you can't get into your IRA's or 401K's until a certain age, 59.5 or 62 without penalty, if you want to retire early, you have to have something to live on during that gap. That's where stock purchases, mutual funds and some private investing can make the difference. If I would have done it correctly, I would been able to retire by 50. Now I hope we can quit by 55.
I get jealous of you guys carrying around a bunch of cash. I could never do that. Hell, I don't keep much in my bank account either. The wife would just spend it. Cash Rich just seems so much more fun than thinking "I have xxx amount of dollars in my investments". I guess the grass is always greener.
Wow, feel free to just skip over my post because that is a jumbled mess and here are the cliffs.
1. Verno isn't rich
2. Diversify your bonds, my nintendos.
http://www.youtube.com/watch?v=m9IbGcyPdj0