What should I do with $60k in order to retire early?

I live in Oklahoma. I have 10 yrs with the DOD (civil service). I am 33. I have cronic back pain and have had surgery that has helped some but I am still in constant pain. Last year I bought a house for $60k which I have invested about another $40k. We expect to sell the house in the next couple of months for a profit btwn $40k-$60k. I currently make about $65k yr. I have about $32k in my 401k. I want to retire asap. any ideas?

Public Comments

1. If there is a feasible way of doing it, a lot of people would be sitting at the beach retired. The stock market averages 12% a year. It wouldn't support you for life. If you invest it in risky things, the upside would be maybe 1000% growth. Still not enough to support you for life. The downside to that is you might lose it all and be worse off. Maybe you can live in another country with lower cost of living. The point is, common folks like us can't just retire that easily. That's the price of life, I guess.
2. 60K will not get you far. Investing takes a long term approach to be truly successful-say 10 yrs? Most people in retirement can live comfortably on 60-80% of their current income. Obviously you need to save as much as possible into your 401K especially if your employer matches. SS doesn't kick in until 60 and who knows if it will be there then. Disability retirement might be an option but thats a pain in the @@@ to get. Remember these are your earning years. People who retire in their 60's still have 20-30 years of living to do on what they've built up. I am a financial advisor and unless there is some magical guaranteed investment I have not discovered... your 60K will take some time to grow. Good Luck though
3. Well if you could keep flipping houses, there is a big profit in that, especially if you were to move to certain areas of the country. Then you could invest the profits you make in either more houses or in mutual funds. Here's a page for finding a good good mutual fund to invest in: http://www.best-stock-trading-systems.com/mutual_fund_ratings.html
4. sorry to disapoint you, but you need not to think about retirement. I know that you undergoing pain, but you gotto to find something that does not make you feel unconfortable while you work. Save 10K a year, and you will be ok whenever it is time to stop working.
5. thats pretty good u should speak to your banking or financial advisor though anyhow all i can say is put money where you can expect to find at least 6 percent annual rates of return; esp. tax-deferred, such as bonds u said u had 10 years; so i'm guessing u r gonna retire at 43-48 range, if not earlier? make a financial map of ur current and future situation; then just get the best rates before u can collect ur social security
6. U could buy a home in a growing market like albuquerque or put that money in a safe,but strong muatual fund.If U r patient enough. U might get maybe 10% return per annum.,which should come out to sat $120,000 after 10 years,