Tuesday, January 18, 2011
Retirement Secrets of a 107 Year Old
Personal finance has always been a topic of interest to me. I am no expert, but love to read about it. (I think it's the fantasy of retirement that intrigues me.) Via Instapundit, here is a story of a 107 year old man retired since 1969. He never made more than $10,000 in a year but still has savings left. His advice: be thrifty and buy real estate. He was never a big investor and did not buy commercial real estate, but did buy and sell several houses, making a bit on each. His financial instruments of choice are bonds and CDs; he never invested in stocks. (His son pointed out that after the market collapse in 2008, he was left a lot better off than the majority of investors.)
Amazingly he's still sharp and pretty healthy. Perhaps the challenge of managing money is good for the brain cells.