I thought about being a Walmart greeter - you know, when you are attempting to retire and not having enough money, you find yourself in the position of having to go out and find something to do to keep money coming in. It isn't that I think lowly of Walmart greeters, it's that I don't think I am going to WANT to be standing there doing that or anything similar at the age of - what - 65? 70?
I'm simply motivating myself to take another step in the savings process and either add at least 1 percentage point to withdrawals for 401k or add another $10 to $20 weekly on the bank savings withdrawal.
If I don't keep beating myself up over this - the idea of going into my 60's broke, poor and facing a the end years of my life in a state of want and possibly even hunger or homelessness - I will not stay vigilant about this savings plan and I will, in the end, fail.
It's easier to save in a 401k than in a bank savings account, though. You can't easily access 401k savings. You can take out loans, but you have to pay them back and in the company I am working for, you can only have 2 out at a time. The 401k loans are, of course, a bad idea. I know this but I have taken them out anyway. The great disadvantage to taking out those loans is the compounding interest. The more money you have in that account, the more you will make on interest. To that front, I am attempting to save up enough money in a bank savings account that I won't have to touch 401k savings ever again, or, at least, not until I retire. I figure having at least 5k in an emergency savings fund is about right.
I know financial guru's tell me differently. They tell you you should have 6 months worth of pay saved up. That's no small chunk of change and though it isn't impossible, it would take years to save up that much money. However, to realize my "dream" of having rental properties, that's exactly what's going to have to happen. I am going to have to save up a lot of money to get a second loan. Any lender would have to see a substantial chunk of change - meaning I would suffer a sizable loss if I foreclosed on something - down on the table.
The other idea that has always lurked in the back of my head is an RV park. I have considered that idea for at least 10 years now. Too bad I didn't start saving towards such end that long ago, lol. An RV park won't make a person rich, but certainly will make a decent income if it's set up properly and appeals to enough people to want to stay there overnight and others living there. Some of the parks around here are pure and total dumps. They are nothing but dirt lots and dirt driveways. Pretty ugly stuff, really. Some of them are exceptionally beautiful and well maintained.
But I wouldn't even consider starting one inside city limits. Too much beauracracy, red tape and all of the nonsense that goes into having to deal with city officials to get the approval of such, if you can even get approval of such. They don't exactly like such places, to be honest. At least, not the ones that look like earthly hell.
Onto other things. Well, time is almost up and not a lot of other things to speak about in a short time period. Work day almost here. I have a mind full of things that are floating around, not endlessly but I do tend to analyze things well into their potential endings.
Whatever the case, time to be off to work.
G'day.
ben
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