Be careful with your enthusiasm for the stock market. Sure, it can be great and investing is good. But as the amount grows and you get older, a correction can be devastating. Don't be afraid to take some off the table, get some more conservative. Especially if you are not working.
That is great advice! I still plan on going back to work in about a year, so I feel comfortable with my allocation now. When I actually retire, I know it will have to change.
Mostly Vanguard total stock market index fund, less than 10% of Vangard total bond and and about 5% in a money market fund. The MM fund is what I am allowing myself to live on now, I plan on going back to work when that runs out.
I hear you, I never had 42k to invest in my 30's and 40's, and in my 20's, forget it, I was in debt. I payed the electric bill when they threatened to turn it off. The only thing that changed when I turned 50 was my attitude. I always spent most all the money I made every year before that. I have worked the same job for 20 years, the first 14 I saved 3 to 4k a year and had 70k. When I turned 50 I decided I needed to save and invest so I could retire before I died. I still can't believe I was able to save that much in the last 6 years. But I guess it's possible, I did actually do it.
