Is 48 years old too late to start from scratch??

[Matt Crawley]

Hello BP’ers,

I'm new to BP but not entirely new to REI. I've owned rentals and vacation property but lost it all in an ugly divorce. I'm now 48 years old and starting over with not a lot in the bank. I hear a lot of success stories here but most of them are from young folks with MANY years of wealth building ahead of them. I would love to hear success stories of folks who started from scratch in their late 40's - early 50's.

[James C.]

Matt,

Remember loosing everything allows you to start again, only smarter.

What I find is that I'm more focused and willing to call things as I see them without feeling like I might offend someone.

I'm also better at spotting deals and have more confidence in knowing what I want out of them.

None of this means that I don't make mistakes, but I am better at recognizing them and solving the issues. 

The most important thing is to focus on what you want to accomplish and go get it.  If you want cashflow for retirement, then focus on that. If you want cash or assets then focus on that. 

If you work at this and don't get all caught up in the "can't"s or "it will never work" or other whining garabge you can be financially secure in 10 years or less.

Hope that helps. 

Good luck, 

Jim