I wouldn't waste much energy or thought on the speed bag, as it has nothing at all to do with boxing. I would spend my time on getting down the basics: Throwing a jab/right/hook combination. The inverse of that is catching the jab in the palm of the right glove, taking the right off your left shoulder, blocking the hook with your right glove (or right elbow if it is to the body).
When throwing that, or any, combination, the third punch tells it. By that I mean, the third punch lets you know about your balance; something to keep in mind. I would suggest that you adopt a real sideways stance, with your left shoulder (if you are an orthodox boxer) and hip well in front. That way, you are protected behind your shoulder, to block the right hand, and you can see punches coming from a greater distance. Being squared up is a more reflex oriented approach, and at 48 with limited (any?) experience, you don't want to get caught relying on reflexes.
When you hit the heavy bag a bit, you'll get a feel for what your strong punches are. Work on the mitts should give you an idea about how ell you can move, to get in position to land those punches. I would approach defense as part of the whole, a means to an end (an easy way to land punches.). Because, face it, anybody you fight is going to come right after you, looking to put the old guy away, so your shot will be in making him miss and countering.
So develope two or three or four moves and work them real hard. When you get a feel for what you can and cannot do well, hit me up and I'll give you some ideas for things to work at.
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