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Retirement Age

Discussion in 'Members' Lounge' started by reckedracing, Jul 12, 2017.

  1. Briansol

    Briansol Admins Admin VIP

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    fidelity CS is top notch. Always an american who knows wtf they are doing.
     
  2. reckedracing

    reckedracing TTIWWOP VIP

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  3. Briansol

    Briansol Admins Admin VIP

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    a husband that works and being a stay at home mom isn't exactly what I would call retirement....

    either way, saving that kind of cash is for very few people who can come out of school making big figures with no loan debt. For the average human, it's not possible.
     
  4. hondarin

    hondarin Please enter a value using 50 characters or fewer. VIP

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    "She paid for school through scholarships and her family's savings."

    AKA: her family has money and connections, and she never had to stress about paying for school or getting a job, or not having enough money to live for that matter. When you have such a fantastic safety net, you can take a lot of risks without worry.
     
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  5. get_nick

    get_nick These snozzberries taste like snozzberries... VIP

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    I see these ALL THE TIME on Yahoo and other bullshit sites. Before even reading the article, I know a few bullets on how they did it that are common to every story.
    1. One spouse is usually still working. This covers insurance. None of these "early retirements" pay for Obamacare or go without insurance. Or they move to nations with free healthcare.
    2. They have zero home payments. I read one where a girl was gifted a house from her grandmother. She rents that one out. Bought a house, rents that out too. And still lives at home with her parents at like, 30 years old.
    3. They have zero student debt. Typically someone paid for their college.
    4. They still "work" and generate income. 30-40 hours a week "blogging" for your website isn't exactly retirement.
    5. .00001% of Americans can do what they do. People who generate income while traveling, blogging, etc. are like playing in the NBA. So few can do it, it's not a reasonable option.

    Edit: Adding #6. The bloggers NEVER EVER EVER EVER show their true costs, income, and savings. It's always incredibly vague. I know this article includes a sample sheet, but it was from her early income and never showed her salary. If you can earn $300,000 a year when you are 26 and save 70% of that, you're in an incredibly rare space that very few others can do. And if you are making that much, why not do it for 5 more years and your husband can retire too. Travel the world instead of living in your 325 square foot apartment.
     
    Last edited: Aug 4, 2017
  6. get_nick

    get_nick These snozzberries taste like snozzberries... VIP

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    She can straight fuck off. "After that she moved to a 325-square-foot fifth-floor walk-up where she still lives with her husband and dog."

    Good thing she's having a baby. *rolls eyes*
     
  7. reckedracing

    reckedracing TTIWWOP VIP

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    I think we hit a nerve...
     
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  8. BigJ

    BigJ I'm just about that action Boss. VIP

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    I get the nerve. I supported family while i was in school and still do to this day. I wish I got help. I'd of taken it. I went to school with too many people that graduated with no debt and got a spectacular job at amazon or microsoft when they were 22. It's amazing how out of touch they are now.
     
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  9. get_nick

    get_nick These snozzberries taste like snozzberries... VIP

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    These articles definitely hit a nerve. I've just spent so much time helping people with financial planning, I see these articles and wonder why they are even published. It's a whole blog of just bragging about being able to fuck off for the rest of your life. It doesn't help anybody since it's not a reproducible strategy. I look at it like, "cool story, bro. :thumbsup:. Now back to reality".
     
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  10. reckedracing

    reckedracing TTIWWOP VIP

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    Eh, I've got a client (hedgefund guy) that retired late 30's.
    His new hobby is "starting businesses and losing money".

    Of course his results are not typical, and I don't know his life's story, but I wouldn't mind never working a day in my life again.
     
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  11. get_nick

    get_nick These snozzberries taste like snozzberries... VIP

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    That's the thing, they're still working. When your "hobby" (starting businesses, blogging, etc.) is the same exact thing people currently do for their real, full time jobs, it's not retirement. You're just working on a job that pays less than your previous job. People need to stop calling 40 hour weeks of blogging "retirement". lol
     
  12. get_nick

    get_nick These snozzberries taste like snozzberries... VIP

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    This article about "love to hate 'FIRE' movement" was on Marketwatch today. They linked to this Twitter account, which is great.

    upload_2019-4-30_8-25-4.png
    upload_2019-4-30_8-27-38.png
    upload_2019-4-30_8-29-43.png
     
  13. Briansol

    Briansol Admins Admin VIP

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  14. invisibledemon

    invisibledemon Bored Moderator VIP

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    this man does not FIRE
     
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  15. get_nick

    get_nick These snozzberries taste like snozzberries... VIP

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    I'm adding an update to a rant from two years ago. Apparently I'm not the only one who thinks these "i retired at 26" articles are bullshit. You have to read through the thread to understand my point. Just reading the most recent posts won't make sense.

     
  16. TheSutrix

    TheSutrix New Member

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    I retired at 34.

    Oh, this is celerity.
     
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  17. get_nick

    get_nick These snozzberries taste like snozzberries... VIP

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    define "retired".
     
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  18. reckedracing

    reckedracing TTIWWOP VIP

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  19. TheSutrix

    TheSutrix New Member

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    Hey !

    Yeah so I retired about 9 years ago. And I had to sorta alter the idea of retirement in order to do it.
    I used to work about 100 hours a week to barely afford a meek existence in Connecticut. Seriously, I lived in a sh!thole house and paid through the nose for it. I have no significant retirement accounts. I actually lost my house to the bank.

    I moved to Rural Pennsylvania from Connecticut because it was actually the closest I could afford to live to my family, still have some sort of work and be able to pay bills in an area that I at least liked (I hate Connecticut. It's like a giant Detroit). So in moving from my $2200-per-month hovel in a terrible neighborhood to my 90 acre 4 bedroom farmhouse in Pennsylvania for $800 a month I managed to save a TON of money. Enough to make my 100 hour work weeks into like, 4.

    So I "Semi retired" 9 years ago. I still work but I work when and if I want to. I own two companies in the northeast at the moment and I work a few hours here and there but mostly my guys take care of business and it runs itself. I take a small percentage from the company and give the rest to the contractors who I pay -handsomely- to stick around and work hard.

    That gave me time in the shop to start to pursue other projects. I invented a new geolocation system, and have been struggling with that startup for about 2 years now. Recently (About 2 months ago) my investors totally screwed me by getting me to move to goddam Arkansas and then pulling their money because I wouldn't hand over my I.P.

    So now I Uber. Seriously. My companies pay me a bit here and there but I am done here in Arkansas. Moving back to the NE as soon as I wrap up this bullshit and set this place on fire. Nothing good happens in the Central Time zone.

    So basically I what I did was a semi-permanent (About as permanent as anyone's retirement) change of life that allowed me to live cheaply, live well (I've been really happy since I did this) and push off what the world expects me to do in favor of what I want to do. And I started raising a family after my "retirement".
     
  20. D16Civic

    D16Civic Matt VIP

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    That sounds more like unemployment than retirement to me.

    But I'm an ahole.
     
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