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Old 08-26-2008, 10:54 PM   #41
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Originally Posted by Sarah in SC View Post
There's always Possum Living, don't forget! Where's that possum picture when I need it? Dolly Freed lived on what, $300 a year, wasn't it? And they had their own still!
That looks like your marmot, on acid!
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Old 08-26-2008, 10:58 PM   #42
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That possum used to be my avatar, which is why I loved the marmot and adopted it immediately when I saw him!
We use Possum Living to describe our periodic attempts to live on virtually no money, just for practice. It is fun, in a sick sort of way.
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Old 08-26-2008, 10:59 PM   #43
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I went down to put my garbage in the dumpster and there was a dead possum. No idea what happened to the poor little guy.

Ha
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Old 08-26-2008, 11:01 PM   #44
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What are you eating, HA!
If a possum died eating your leftovers, you need to be worried!

We see lots of possums, foxes, wild turkeys, and deer out where we live--I love those little guys.
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Old 08-26-2008, 11:10 PM   #45
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I went down to put my garbage in the dumpster and there was a dead possum. No idea what happened to the poor little guy.

Ha
Well if like Matt you'd like to live on $700 a month, then finding a dead possum in your trash can might save you a trip to the supermarket and cut your grocery bill in half...

Possum Recipes
WARNING: animal lovers abstain...

Who would have known there were so many ways to fix possum?
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Old 08-26-2008, 11:12 PM   #46
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Most people don't know you actually need three people to cook opossum, one to cook and two to play dueling banjos.
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Old 08-26-2008, 11:21 PM   #47
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Most people don't know you actually need three people to cook opossum, one to cook and two to play dueling banjos.

I thought the other two were to watch for oncoming traffic
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Old 08-26-2008, 11:29 PM   #48
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At least I know how to make cheap liquor to go with that opossum. You just take all the free jelly packets you can from Denny's and mix in a little yeast and voila! That's so much quicker than digging through the junk yard to build your own still.
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Old 08-27-2008, 01:26 AM   #49
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Haha, there are some funny comments here!

Anyways, to answer some of them.

Quote:
I can't figure out if this is serious, or if Matty is just having a laugh at everyone.

There is enough serious answers in here to make me question my most basic math skills though

As a comparison to Matty, I am 40 years old, have around $1.9M in assets ($1.4M in investments and $500k in fully paid for home), $0 in debt and I am looking at at least 8-10 more years of working before I can support a modest lifestyle with some travel and health care.
I am serious about this although your situation sounds like a story I read a few months ago about couples in Silicon Valley who had net worths of over $10 million but also felt they still needed to work 5-10 more years before they could "afford" to retire. Man, your situation and mine are just at opposite ends of the spectrum. It is true that as people get older their "needs" expand dramatically.

But I am from Canada so I don't need to worry about health care. I really don't think my plan would work if I was American. I don't know how expensive health care is from experience but from reading I've heard it is quite a big chunk out of a monthly budget.

Also, at this point in time, I don't think buying a house is a good investment. House prices in my city are way too high for me. I'd rather rent and invest the difference. I've never had a "need" to own a car as I've made sure to live within walking distance of work. And yes, I'm single right now. If I do have a family, obviously this plan will not work but I'm aware of that and willing to modify things if my situation changes.

Also, my goal in retiring early is to have my time. My time is more important to me than having stuff. I do enjoy enjoy computer programming but I don't want to have to do it for 40 hours a week. Having investments that cover my costs would allow me the option to just quit and do what interests me. Sounds like a pretty good situation to me. Plus, even if I do retire at 31, I will almost definitely do things in the future that bring me income. This would be more along the lines of starting a business rather than being an employee. So even if my withdrawal rate sounds high, I will be prepared to work for income if I need to. If I have to go back to work then so be it.

My inspirations for this are {moderator edit}a blogger and the Canadian author Derek Foster. Both of these guys retired in their early 30s without any inheritances or lottery winnings. I figure if they can do it, why can't I?
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Old 08-27-2008, 02:11 AM   #50
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Good luck, I hope to retire extremely early as well. However, I wouldn't be depending on 10% returns consistently, or even 7% returns.
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