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old.snake

Dryer sheet aficionado
Joined
Nov 8, 2010
Messages
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I'm not clever enough to think of a catchy title, but the rules demanded originality so it is what it is.

I'm a 20 something year old male with practically no savings/money. I have debt that will take me at least 5 years to pay off, but I would love to retire as soon as possible. I know nothing about investment, real estate, or any of the ways of acquiring a small fortune in a short time. I don't need much money to live happily, just enough so that I don't ever have to work anymore for the rest of my life.

I would love some advice on how to accomplish this goal, if anyone here has accomplished this.
 
:LOL:...well you got my attention.

Educate yourself, work, spend less than you make, invest your money...then retire.

There ya go...:)
 
bbbamI said:
:LOL:...well you got my attention.

Educate yourself, work, spend less than you make, invest your money...then retire.

There ya go...:)
Click to expand...
Yeah... that is my long term plan. I'm hoping to replace it with one that would yield freedom sooner. Hopefully before I'm 40. Guess you could say I'm looking for a "get rich quick" scheme. I'm going to assume playing the stock market will be required, but I don't know how to go about doing that.
 
Reading books on investing will allow you to glean the first rule of investing--there is no get rich quick. Though we all wish there was. ;)
 
If you want to "take a chance" and maybe accumulate a pile quickly, than your idea of "playing the stock market" might work for you, but probably will not and then you'll be older and in about the same position you are now. You could also try your hand with the lottery or startup a company. There are lots of shortcuts that sometimes work. The problem is that they often do not.

If you want to be sure you can retire early and are willing to work hard, then getting a good education, finding work (or even starting your own) that pays you for your skills and efforts and putting serious money into a "get rich slow" investment plan will definitely work. It just takes a little time.

You can find lots of info on bogleheads.org for the investment side.
 
old.snake said:
I................. I would love to retire as soon as possible. I know nothing about investment, real estate, or any of the ways of acquiring a small fortune in a short time. ...............

I would love some advice on how to accomplish this goal, if anyone here has accomplished this.
Click to expand...

I would recommend a criminal enterprise, particularly white collar crime as the sentences are short if you get caught and the prisons are nicer.
 
travelover said:
I would recommend a criminal enterprise, particularly white collar crime as the sentences are short if you get caught and the prisons are nicer.
Click to expand...
I am part of a non-profit organization that is dedicated to stopping the proliferation of bipedal tanks that can launch nuclear ICBMs from any terrain. In some countries our acts are considered terrorism, so I've got the criminal part down. I suppose I could sell the blueprints for these tanks on the black market... and I shall call these tanks.... "bipedal tanks that can launch nuclear ICBMs from any terrain." Catchy name, huh?
 
old.snake said:
Guess you could say I'm looking for a "get rich quick" scheme. I'm going to assume playing the stock market will be required, but I don't know how to go about doing that.
Click to expand...
The majority of ERs have achieved that status by living far below their means and saving prodigious portions of their incomes.

Some had high-equity portfolios but most did not. Some have government pensions (me included) but many do not. One in his 20s sold his website for a seven-figure payout during the latter part of the Internet gold rush. A few struck it rich with startups or stock options or other windfalls, but you probably have a better chance of getting hit by lightning. We have a couple posters who were playing online poker for riches beyond their wildest dreams, and another poster who had developed an AI computer stock-trading system, but we haven't heard much from them lately so their credibility has yet to be ascertained. We know that the "insane options trader" strategy did not work out.

Read "Your Money or Your Life" or Jacob Lund Fisker's "Early Retirement Extreme" blog/book or John Greaney's "Retire Early Home Page" website. Jacob might be five or six standard deviations to one side of the bell curve but they're all good examples of how to boost your savings rate.
 
Oh BTW, how come my posts are being moderated? Have I broken a forum rule, b/c I've received no PM about it.
 
REWahoo said:
No need:
Click to expand...
You figured me out! You must be one of The Patriots. Is there no privacy left in this world? No... not here. I'll have to create a new world, a heaven that exists on the outer edge of the international community. The world that my father once tried to create. A country without politics. It shall be called... "a heaven that exists on the outer edge of the international community." Catchy name, huh? You wouldn't believe the name other people came up with. It's totally lame.
 
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