Older investor and loving it

[Glucose]

How old do you have to be to be considered "older' in this thread?

I guess it's relative. Seems to me most are referring to over 50's.
I was horrified to read in a book the other day a youngster (i.e. late teens) referring to someone in their early 40's as middle-aged. Yikes!
I kind of think I'm approaching middle age in late 50's and you're not old till you're 80. My Dad is 90, and still says things like "Oh, those poor old folk.." and "When I get old...". So you have to be well over 90 to be "elderly"

 

[steveadl]

I guess it's relative. Seems to me most are referring to over 50's.
I was horrified to read in a book the other day a youngster (i.e. late teens) referring to someone in their early 40's as middle-aged. Yikes!
I kind of think I'm approaching middle age in late 50's and you're not old till you're 80. My Dad is 90, and still says things like "Oh, those poor old folk.." and "When I get old...". So you have to be well over 90 to be "elderly"

It depends on the person. Some people aged 50 will act and behave much older than someone who is 70.

Although, I'd tend to agree with early to mid 40's being middle age - unless you live to 110, then it would be 55

As a side note, I don't understand people's morbid fear of being referred to as "middle age, old, older" etc.

 

[Charlotte30]

Some great replies.

Just to add to my post. In the last three years I have replaced two of the older houses by building 2 flats on each property that have increased in value and cashflow despite higher borrowings. Outcome more cash in the pocket.
Charlotte 30

 

[BayView]

I guess it's relative. Seems to me most are referring to over 50's.
I was horrified to read in a book the other day a youngster (i.e. late teens) referring to someone in their early 40's as middle-aged. Yikes!
I kind of think I'm approaching middle age in late 50's and you're not old till you're 80. My Dad is 90, and still says things like "Oh, those poor old folk.." and "When I get old...". So you have to be well over 90 to be "elderly"

I was talking to an older fellow yesterday who was telling me about a conversation he had a few days earlier with "this 35 year old kid".

I laughed my head off and felt much younger, and thanked him.

 

[luce.rocks]

Mum's 60. She and I started investing together 6 years ago. She loves it.

 

[annE]

What a great thread !

I am 60 - also started investing at 50 - have 4 IPs now - had to retire this year as I had reached maximum work age at job - am receiving a pension from employer.

Presently treading water wondering what to do next but feel I will surely buy at least one more IP in the future.

However, have decided for the moment to continue reducing the debt level as I appear to have just turned the corner where funds now going into my account more than cover the repayments so I won't have to sell an IP to reduce the debt significantly. This is a wonderful feeling - all those little cents slowly but surely piling up!!!!

Another positive thing is that my broker a few years ago arranged a 30 year loan for me so I think I could technically keep going until I'm 86!!! and by then there will most probably be no age barrier to getting a loan.

Greetings from a cold and sunny Vienna where it snowed yesterday
annE

 

[BayView]

Fantastic story annE.

Well done!! I hope you are gunna get those skis on??

 

[jaymm165]

Great to know someone else my age is still investing. I started investing at 50 after hearing my pastor say: "there are so many dead people walking around - the only problem is that they have been buried yet"

We started investing last year. Like the quote says "you are a long time dead" - but you could also be a long time retired, so even though we started late, it was a case of better late than never. I'm 52 and my husband is 60. I agree with what you say though, there aren't too many people (none really) that you can talk to who wants to do the same thing or in similar circumstances.

I've been reading heaps of books, sometimes 2-3 at a time. Jan Somers books, Robert Kiyosaki's.... anything I can get my hands on to keep me motivated. Sometimes I've read books that have contradicted each other and that has left me a bit nervous if I was on the right track. I've had to just pick up the books again that were using the same strategy.

We have a PPOR and 2 IPs. For the moment we have had to stop as we don't have enough income to do any more for a bit.

Jay

 

[Shirley]

NB - No, you're not the only 'oldie' on Somersoft - there are quite a few!

My husband's 57 and I'm 56, we both work full-time, own our PPOR, have income from 9 properties, plan to build a duplex soon and also have a 3.5 acre block for 'later'. Our kids are into investing as well but we don't really have any friends with whom we can discuss investing. That's why I enjoy the forum!

Re: the comment about 'middle-aged' in another post. I must admit I was shocked when hearing a news bulletin sometime ago where they referred to a 35 year old woman as 'middle-aged'. I think that's stretching it a bit!

Cheers
Shirley

 

[Nth Brisbanite]

NB - No, you're not the only 'oldie' on Somersoft - there are quite a few!

My husband's 57 and I'm 56, we both work full-time, own our PPOR, have income from 9 properties, plan to build a duplex soon and also have a 3.5 acre block for 'later'. Our kids are into investing as well but we don't really have any friends with whom we can discuss investing. That's why I enjoy the forum!

Re: the comment about 'middle-aged' in another post. I must admit I was shocked when hearing a news bulletin sometime ago where they referred to a 35 year old woman as 'middle-aged'. I think that's stretching it a bit!

Cheers
Shirley

It's good to know that there are more oldies around than what I first thought. I'm wondering what motivates all you oldies (my definition: those over 45). Is it:

1. the money
2. the thrill of the deal
3. just the sheer enjoyment
4. financial freedom
5. so that you can give to others - that's what motivates my son-in-law.

Some great contributions so far. I agree with Shirley that it's this forum that helps to keep me motivated.

Just for interest - my kids tell me they can't keep up with the old man!!

 

[jaymm165]

What motivates us now is that great feeling that yes..... we can do it even though we did leave it a little late. My husband wasn't too keen on investing and getting into debt again, not realising it was good debt, until I plucked up the courage and went ahead.

Even though my husband officially has another 5 years before he can retire, it would be nice to say that we could do it sooner, however as he is a few years older than me, what's the use of him retiring on his own if I can't too. It would be nice to spend our time together enjoying this great country of ours and travel.... selfish yes, but being a slave to an employer isn't going to get us financial freedom if we don't use it now for investing.

All our married life, my husband has brought our kids up on 'no, we can't afford that'. I'm now saying, yes we can and I'm jolly well going to. Also I hear too many 'pensioners' whinging that they're hard done by. The freedom for me will be not having to worry where my next meal is going to come from and that I can afford whatever I want.

I'm working on it.

Jay

 

[Sunfish]

Hi NB. I meant to introduce myself earlier than this but better late than never.

I definitely fit the model of "old phart": 65, and Mrs T and I are still working. Neither of us doing the 40 hour thing but I guess that's what motivates me, the desire for a little comfort in retirement.

I've only just bought my second IP but I have been working on my share portfolio and I'm happy with my results so far. I feel I could sell my business and become a full time share investor but, while I don't think share investing is "risky" making a regular income has a question mark over it. Another good year and I might do it. Like others I come to SS because these "friends" here are the only ones I can discuss investing with.

No way am I retiring to golf or bowls. I will just become more committed to my shares. And I don't limit myself to boring, "safe" stocks. I'm always looking for good juniors. I've found a few so far.

 

[LynnH]

Hubby and I are also "over 45-ers". Hubby still works - for the adrenalin rush and for the sheer enjoyment of it. I was a full-time mum and "retired to become an investor" after getting over the financial hurdles of school fees etc. We have an SMSF and other investments, but the thing that I enjoy the most is property investing. Hubby is happy to leave all the research and leg-work to me, so long as he has to do nothing more arduous than signing the paperwork!

My motivation? To have the financial freedom to follow our dreams and take advantage of any wonderful opportunities - and to weather any gathering storms (e.g. health problems) - which may come our way, and also to be able to help others.

SS has been a wonderful source of information - and inspiration!!! Like many forumites, there are very few people in my family/social circle to whom I can talk about property, or even about investing in general. What would we all do without our SS 'friends'?

Cheers
LynnH

 

[Dazz]

Dunno Lynn, but I reckon a large chunk of investors - upwards of 10,000 or so hang around and get their "investing fix" from the Investors Club.

The social gathering and chatting side of things with the Club, seems to me, as a casual outside observer, to be far more potent and prominent than any hardcore property investing results.

As an aside to this thread, it's good to see these older fuddy duddy's over 40 types paddling their own canoe.

 

[LynnH]

Daz

Are there really that many people who get their kicks out of TIC??? Scary stuff!

Much prefer to do the 'hands on' stuff of inspecting, negotiation, trying to beat the banks at their own game etc, rather than sitting around talking about it all!

Hey, what's this reference to 'older fuddy duddy over 40 types'??? Don't forget, you'll be one of us one day, too!!!

Cheers
LynnH

 

[Nth Brisbanite]

Daz

Hey, what's this reference to 'older fuddy duddy over 40 types'??? Don't forget, you'll be one of us one day, too!!!

Cheers
LynnH

I agree with you LynnH. I've noticed in another post that Dazzling can be offensive. This time, I'll take it as good humour!! Someone said to me recently that you'll be treated the same way as you treat others.

The good thing about this thread is that all the other comments have been encouraging.

 

[Dazz]

Good onya Lynn. Sounds like the right tactic to me with your property approach. Good luck to you and your hubby.

Cheer up NB. I normally offend everyone with my skewed views. You'll live, I'm sure of it.

 

[Francesco]

What's old and what's young? I suspect those who consider people past 55 to be old may really have an expectation of a shorter life than those who do not.

55 used to be the standard in the Commonwealth regarding access to superannuation on the basis of age for its public servants. It has moved to 60. For the Age Pension it is 65. For women, the age has moved from 55 to 60. I would think 55 is not old if you are looking to live another 30 years. Congrats to all you above 50s who look after your own financial affairs.

F

 

[oasis1frog]

I find this thread is very inspiring as I didn't know anything about investing until 40. I always thought paying off the house, bring up the kids, work until 65 then get the pension and that's it. But now my desire to financial independence is stronger than ever. Money means absolutely nothing to me, but it enable me to choose who and what and how etc and not to have to put up with any nonsense in life.

 

[Nth Brisbanite]

I find this thread is very inspiring as I didn't know anything about investing until 40. I always thought paying off the house, bring up the kids, work until 65 then get the pension and that's it. But now my desire to financial independence is stronger than ever. Money means absolutely nothing to me, but it enable me to choose who and what and how etc and not to have to put up with any nonsense in life.

Oasis1frog, just for interest, what have you done to gain financial independence? It's posts like yours that inspire me to keep investing.

For me, it wasn't until I went to a Jan Somers seminar about 10 years ago, that I started to understand some of the principles of property investing. The older I get the more active I seem to be getting, not the reverse as some forumites suggest. In the last 18 months alone, I have acquired 5 blocks of land from which I have built one house, in the process of building another with 3 more houses on the drawing board.

You don't need a large income to succeed in property investing. I've always only been on a very modest government wage and my wife was a stay at home mum who raised 4 active children.

The keys to success in property investing are in my opinion - clearly spelt out goals, a positive mindset, knowledge and a great team around you. You can succeed in property investing at any age whether you are 18 or 70.