January 2018
« Sep    

107 Year Old has been Retired for 41 Years

Have you all seen the article about the 107 year old man that has been retired since 1969? Here’s how Leonard McCracken says he’s gotten by on savings, social security, and an annuity he bought 41 years ago:

1.  Thrift

This man has owned only two new cars in a sea of oldies but goodies. He and his wife were garage saling when others were consumering. In short, this man defines thrifty.

2.  Real Estate Investments

This guy has owned 35 homes including 5 he built himself. Home equity was a huge part of his strategy.

3.  Use Debt Well

Even though Mr. McCracken had to take a few loans along the way, he paid them back as quickly as possible so he’d be beholden to nobody.

4.  Work Even When Jobs Are Hard to Find

Even when he was laid off, he took what he could find to fill the gaps. A hard working spirit kept his family above water between regular jobs.

5.  Save and Invest Conservatively

I know that some of you may argue that risky investments can pay off big, and yes they can, but I like proof that conservative investing can work out too.

6.  Stay Healthy

Some things are genetic, but try really hard to take care of the rest. Mr. McCracken, a 107 year old that is going strong, has been in better health than many of us for these last 41 years.

I have to say this gives me hope. My husband and I are saving for an early retirement by age 52, so the fact that this guy could make it work for 41 years and going sounds dang good to me!

Is this not the coolest?!

Feel free to also check out my staff writer post today at My Retirement Blog,
15 Ways to Ensure a Successful Retirement – Part 1

Be Sociable, Share!

6 comments to 107 Year Old has been Retired for 41 Years