If you’re in your fifties, on the other hand, moving to Hollywood is not a great plan. At that point, chances are you now have people in your life who are truly depending on you, like a spouse and children. If that’s the case, your failure is no longer your own—it affects other people. It’s for the same reason that I stopped riding motorcycles and

A few years later, when he was 32, he sold that company for $6 million and retired for five years.

Cuban

Rule No. 9: Take your biggest risks when you have little to lose.

seventies, eighties, and beyond, that these really don’t cost that much—far less than 80 percent of your previous spending.

For example, if you’ve been told that during each year of retirement you will need 80 percent or more of your annual pre-retirement income, you will probably discover, after looking at the activities you’ve bucketed for your

reasonably good shape in both health and wealth—between 45 and 60—than people usually do, because most people who save money for the future save for too late in life.

Once you’ve finally determined your net worth peak, you must start spending down, or decumulating. This means you will be spending more in your real golden years, when you are in

The more valuable you are to your current employer, the more likely it is that they’ll be willing to work with you on your terms.