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All Forum Posts by: Anthony Newbold

Anthony Newbold has started 12 posts and replied 68 times.

Post: At what age do you plan to STOP. Plan to retire?

Anthony NewboldPosted
  • Investor
  • Bedford, IN
  • Posts 69
  • Votes 29
Originally posted by @Steve Marshall:

I think retirement should be a number, like Russell says.  From there, pick a date and design your plan around that.  x# of doors per year, increasing each year is a typical way to do it.  Shoot for it...if you miss it, you can continue until you hit your number.  

Example: Russell says 150K per year.  Assuming 150 dollars per month/door translates to 1800/yr.  150000/1800 = 83.3   Russell needs 84 doors.  (Noted that cashflow will increase as properties are payed off...so life will get better!)  

84 doors

4 this year

8 next year

16 the year after that

25 the year after that

31 the next.

Russell is done in 5 years.  

Now comes the hard part.  Making that happen.

 DAMN!  Fantastic Response.....!  YES!

I actually laid our the same thing!...  (x) amount of doors = NET REQUIRED= what you can afford to buy next = NET GAINED= next month do the same thing =  5 YEARS!  

Now, I wrote out mine for each and every month for 60 months, each and every property.......  I love what you just wrote, because I can relate to it so much!  And then lastly, you add the 'HARD PART'......  and that is the making it happen part.

I LOVE IT!  This forum is so full of positive and forward looking people.  It is so much a pleasure for me to read these after work.

Probably the most important thing I've read thus far was the 'Making it Happen' part.

That's the TRUE difference between those that succeed and those that don't.  That's all there is.  That's the ONLY difference.

Because we all have the SAME deals before us.  EVERY SINGLE ONE OF US.  Has the same deal......  especially on this forum, all should know this.

The TRUE difference is making it happen, and there are THOSE THAT DO!,  and Those That Don't.

Stay Tuned!

Post: At what age do you plan to STOP. Plan to retire?

Anthony NewboldPosted
  • Investor
  • Bedford, IN
  • Posts 69
  • Votes 29

 JD,,  having read several of your posts I respect you very much......

....  I must share that my 30 day 'Internet' retirement plan was in 'Jest'.

I simply wanted others that were reading this post to learn from my 50 years of mistakes..  and that there is no 30 day plan.

... unless it involves corporate robbery.  Love reading your posts and replies. :)

Post: At what age do you plan to STOP. Plan to retire?

Anthony NewboldPosted
  • Investor
  • Bedford, IN
  • Posts 69
  • Votes 29

Thank you Russell,

Thank you for sharing your number.  I know you didn't have to.  But it is great information for me and all of us that are reading this thread. 

Post: At what age do you plan to STOP. Plan to retire?

Anthony NewboldPosted
  • Investor
  • Bedford, IN
  • Posts 69
  • Votes 29
Originally posted by @Russell Brazil:

I plan to start easing into retirement at age 50, and to fully call it quits at 52. I am 36 now.  At 52 I should have enough passive income from buy and hold rentals, dividend income and my wifes pension to live a very comfortable life without working.  

 Russell,

Neat plan.  Ease into it at 50 and finish at 52.  Being 36 now, tells me that you have thought this through .... and probably have a spreadsheet laying out all of the details.

I really wish I would have thought this through as well as you have.  I didn't have a spreadsheet at 36 or 46....  but I do have one now.

Anyhow...  I like your plan, but am curious what your number is?  What is ENOUGH passive income, and dividend income, and pension income.  What's the number for you at 36?

I'm simply curious because I didn't have one then and barely have one now.

...  appreciate every piece of knowledge that I gain from all of you.....

------Anthony

Post: At what age do you plan to STOP. Plan to retire?

Anthony NewboldPosted
  • Investor
  • Bedford, IN
  • Posts 69
  • Votes 29

Chris,

Thank you so much for your thoughts.  You already know many of mine..  but since you shared, I will share a little more.  I was convinced to start my own business by 30, but didn't do it until I was 32.  I was able to do pretty much want I wanted to do ever since..  (AFTER WORK!)...    now let's be clear, what I want and what you want may be very different things.  Maybe, I just want to eat daily and an 88 cent meal works for me.  Also, I said 'After Work'.  And so I still work daily and quite a bit.  I can remember first opening my first business and working for an entire year EVERY SINGLE DAY except Christmas, and New Years.  Our policy, a common practice in malls, was to be open from 9AM to 9PM daily, except on Sunday ours closed early at 6PM.

I LOVED SUNDAYS!  I got to leave at 6PM...  but I never really went straight home.  It gave me a couple hours to purchase supplies 25 miles away at Sam's club for Toilet Paper and Paper Towels.  Those were the 'Happiest Times!'.

The above story is TRUE.  I respect that story, from myself and anyone that has a similar story.  But I WOULD NEVER DO THAT AGAIN.  Because truly, it was every single day for 363 days.  I look back on it as a sacrifice that had to be made, but one that I will never do again.

Anyhow....  you are currently 34.  How about being independent and working for yourself at 34!  Just simply reading your post already tells me your'e capable of doing it.  Don't wait until you're 35.  It's already in you.  Keep me posted on the adventure please.

Rock on!

Post: At what age do you plan to STOP. Plan to retire?

Anthony NewboldPosted
  • Investor
  • Bedford, IN
  • Posts 69
  • Votes 29

I "retired" years ago when the market got insane. Am I out of REI? No. Am I buying? No. I am "holding" and selling parts of the portfolio. But when the cycle changes... I'll be back.

 WOW,  Again, Excellently said.

This post has provided me with much more intelligent responses and discussion than I expected.  I am very thankful.  Thankful for every lesson that you folks are teaching me.

Post: At what age do you plan to STOP. Plan to retire?

Anthony NewboldPosted
  • Investor
  • Bedford, IN
  • Posts 69
  • Votes 29
Originally posted by @Account Closed:

In my opinion retirement is a mindset. I quit my 9-5 job at 26.. my goal is to work 15-20 hours a week while making millions by the time I'm 40... as for fully 'retiring..' probably never. I'll get way to bored. 

 PERFECT!

Absolutely perfectly said.  I am of the same mindset.  I will be doing the same, ....  just at Disney World.

Post: How are you making any money with Rentals?

Anthony NewboldPosted
  • Investor
  • Bedford, IN
  • Posts 69
  • Votes 29

Thank you Ozzy,,  Great information,  And just knowing what people near me are doing it makes me feel very good.

As far as 'connecting'...  I'm brand new, so I don't know what that button does.

Post: At what age do you plan to STOP. Plan to retire?

Anthony NewboldPosted
  • Investor
  • Bedford, IN
  • Posts 69
  • Votes 29
Originally posted by @George Hermann:

Hi Anthony,

That's kind of like asking how much money is enough! I enjoy going out every day and meeting new people talking about their dreams and goals, and helping them achieve them. Why would I want to stop doing that? So my answer to your question is when I can't get out and do what I love.

George

Thank you George, and yes, I used to believe the same for the longest time.

In fact, I have taught all of my children 'Do what you LOVE and the MONEY will follow'... and emphasized that's what's important.  If it provides crazy amounts of money or little amounts of money it's not important.  Just do what you LOVE.

But through the years I have learned that doing what I LOVE just makes people want me to do it more...  Since I Love doing it, I ended up being good at it.... so people are willing to pay me more that 40 hours of work per week, in fact it can exceed 80 hours easily.  People know that I love it, are willing to pay for it, and I keep on doing it.

What I realized was that there was a limit to how many hours there are in a day, a week, month and a lifetime....

....  and that's when I realized I wanted to live at Walt Disney World.  It's not that I love it.  It's that I want it.  And in order to achieve this, I have to stop doing what I love.  It took me awhile to figure it out.  But I will have to stop working, because time is limited, and I can't achieve this 'Disney' goal if I continue to do what I love.  

Thank you so much for your post.  It's great.

Post: How are you making any money with Rentals?

Anthony NewboldPosted
  • Investor
  • Bedford, IN
  • Posts 69
  • Votes 29

Thank you Al,  

An interesting perspective that I had not considered.  Very interesting,  I will have to explore more.