Forbes: How to Retire Early

[Onward]

Quote:

Don't buy a new car--or even own a car--or designer brands. Skip eating out, smoking cigarettes and traveling. Even consider lifestyle decisions like not having children or only marrying someone with your same financial goals.

How To Retire Early - Forbes.com

[Lisa99]

Interesting article but I'd rather work for a few more years than put all fun (like travel) on hold until we retire.

And if you live like Forbe's suggests for very long it may be hard to shift gears and enjoy your money in retirement.

[harley]

Way too short to be meaningful, although it does lightly gloss over some truths. I agree with this statement

Quote:

To retire in your younger years, you'll have to work for it in your much younger years. In order to retire young without an income of hundreds of thousands of dollars, you'll have to live below your means, not within your means--and it's not going to be fun.

except for the last bit. I LBMM all my life, and I had a lot of fun. I think tying overspending with fun pretty much wipes out the message they are trying to put across.

[walkinwood]

Quote:

Originally Posted by Lisa99 And if you live like Forbe's suggests for very long it may be hard to shift gears and enjoy your money in retirement.

I like to think of it the other way around.

Set your priorities and you'll enjoy living well below your means. Quit when you have enough money to sustain that living standard. Each person who truly wants to ER has their own optimal LYBM level that allows them to be happy & save money.

Quote:

In order to retire young without an income of hundreds of thousands of dollars, you'll have to live below your means, not within your means--and it's not going to be fun.

and why not?