Ask Terry Questions Starting (Completely) over at 50

Starting (Completely) over at 50

By Terry Savage on November 29, 2014 | Wild Card

Hi Terry,

My husband and I are 50 years old, both if us are self-employed, and we lost our home (and everything else trying to save that home) three years ago in the SF Bay Area. We’re currently renting the little farmhouse of our dreams in the Northern California foothills. Is it *truly* possible at our ages (and without *steady* income — self-employment is a roller coaster) to both purchase this home and set ourselves up for the future? At this point, we’re pretty convinced that we’ll have to work until we die. Seriously.

Thank you for taking the time to read this,


Terry Says:   That’s what’s great about America.  YES, it is possible to start over, and I know of many people who have done just that.  It takes a disciplined, determined effort — and yes, a bit of luck.   Talk to your landlords.  They may convert some of your rent toward a purchase.  And be disciplined about your “self-employment”  If one of you can get a secure job with benefits — including  healthcare, and a retirement match, then it might pay to take that job and do your business creating on the side.  We are in an upturn — and the rest of the world is lagging. So this is the moment. Don’t give up!



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