Posted on 11/07/2022 6:36:01 PM PST by nickcarraway
Is he vaxxed? You can’t take it with you.
Life has a way of eating through a persons financial plans.
A couple medical emergencies can do it. So can losing a good paying job and not being able to land another.
My prior comment stands, but I admire his mentality and wish him success.
You have to spend money to make money.
$25k/year is NOT enough to retire on.
He’ll need about twice that amount
Far too early to retire on that amount of money.
Good for them - so long as they don’t live out the rest of their lives after age 35 that way.
Good luck living on $25K A year, especially with Bidenflation running over 8% A year.
Don’t give up your day job.
$135K top 1%???!!!
Lol.... Yeah maybe in the back hills of Appalachia Or down deep in the blackwater Bayou somewhere
Pet budget??? LOL
My Dad always worse Timex watches despite being able to afford much nicer...he always drove Oldsmobiles despite being able to afford much better.
I can’t imagine retiring at 35. There are too many years of the unknown to plan effectively. You need to be filthy rich to remove doubts. What happens when you need a job at age 50 and you have no work experience for 15 years?
Its good to watch what you spend and live within your means, but the whole idea of living as though you were poverty stricken....so that you can stop working early and as though you are poverty stricken for the rest of your life....I don’t get it.
Why not just be reasonable in what you spend and keep working? I don’t view work as a necessary evil. I actually like working. I like accomplishing things and staying busy. Oh yeah, I also like making money and actually enjoying my life.
He probably should save about 1.2 million for retirement.
I worked with a guy that would make this guy look like a piker.
He started out as a rookie cop at $733/month 40 years ago. Every raise he got went right towards savings. He retired as a police Sargent 35 years later but he still saved everything over that original $733.
He then went to work for the same city as a code enforcement officer making $60K/year.
All of that was invested as well. During his second career the city manager determined that at the current budget expenditure rate, it would end up $3 million in the hole.
He walked into the manager’s office and offered to loan the city $3 million at 5% interest. The city manager laughed at him. So he came to me and told me about it because he couldn’t figure out why he was laughed at.
I would talk to him often that at some point he needed to enjoy life. But this guy was totally addicted to saving and making money. He just wouldn’t spend a dime. It was pretty sad.
I just hit 60 and have much more money saved up than this guy. But I don’t feel comfortable retiring even now. You are right, too many variables and unknowns. So long as I’m healthy, I’ll keep working right up until 65 or so. That way, I can live off my income and not have to dip into my savings.
Good thing they are well matched there.
I expect he’ll take a year or two off off and find he’s bored out of his mind, then go find something fun to do that he loves. I’ve known a number of guys who tried early retirement and I don’t think one made it past five years.
A couple of medical misadventures have gotten me very well.
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