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Cool FIRE article in MSN Money
Old 05-28-2016, 01:11 AM   #1
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Cool FIRE article in MSN Money

How this couple saved $1 million and retired in their 30s

Summary: It's the story of freedomwithbruno.com (if you follow that blog at all) who are an early 30s couple that went from debt to ER.

The article is decent... nothing amazing... the COMMENTS are gold.

It reminds me that most of America (and probably the world) believes that it's impossible to save money unless you are living in misery and that someone actually not upgrading their life and spending every penny is somehow nuts.

I tend to frequent ER sites and talk to many ER people so I forget what the "normal" world looks like.
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Old 05-28-2016, 05:48 AM   #2
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Just yesterday I was having a discussion with a coworker about retiring in as little as 10 years by saving half one's income. She was adamant that it's impossible. I almost felt bad for her, but then I remembered she's got the nice toys to give her comfort in return for 40-50 years in the workforce


Only three ways to get to other side of that hill: climb up, go around or dig through. I won't pretend it's not there.
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Old 05-28-2016, 06:49 AM   #3
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Comments are indeed as advertised! Definitely worth a chuckle. Haters gonna hate!

Sound like smart young folks doing their thing.
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Old 05-28-2016, 07:40 AM   #4
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Originally Posted by petershk View Post
How this couple saved $1 million and retired in their 30s

I tend to frequent ER sites and talk to many ER people so I forget what the "normal" world looks like.
I agree. There are some put on earth to be a bad example. My cousin and her husband have blown through $1M in inheritances! They recently had to borrow $3K to move her mother to a new nursing home.
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Old 05-28-2016, 07:53 PM   #5
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I gotta stop reading comment sections. "Only drug dealers can make $100,000"
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Old 05-28-2016, 09:16 PM   #6
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I've been following these guys for over a year now since they first started out on their early retirement. And keep in touch with them from time to time. Very down to earth people it seems.

I don't have a link to it, but on their blog I recall they mentioned there is a chance they will have to earn additional funds at some point but won't have to earn a lot because their living expenses are pretty low in general. Nothing wrong with planning on that when you retire in your 30's. They've already enjoyed more than a year off and will most likely enjoy many more in the future without needing to work.

Edit: and the comments are pure gold.
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Old 05-28-2016, 09:32 PM   #7
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Quote:
Originally Posted by petershk View Post
How this couple saved $1 million and retired in their 30s

Summary: It's the story of freedomwithbruno.com (if you follow that blog at all) who are an early 30s couple that went from debt to ER.

The article is decent... nothing amazing... the COMMENTS are gold.

It reminds me that most of America (and probably the world) believes that it's impossible to save money unless you are living in misery and that someone actually not upgrading their life and spending every penny is somehow nuts.

I tend to frequent ER sites and talk to many ER people so I forget what the "normal" world looks like.
I am really getting sick of these "millennial saved big money and retired early stories."

So 2 middle class income earners supposedly stashed 1 million away and are now retired. Yes sure. Happens every day in America.

Seriously. The math does not work. Sorry, just not buying another early 30's millennial retired early story on the internet.

So they spent $270k on a house. WOW! And its near cool craft breweries and awesome art galleries. How neat!

Also, they are going to rent out their new house on AirBnB and travel in the summer.

Do not buy into this early retirement fantasy that is being sold to the millennial generation. This is fake crap.
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Old 05-28-2016, 09:47 PM   #8
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Originally Posted by FUEGO View Post
I've been following these guys for over a year now since they first started out on their early retirement. And keep in touch with them from time to time. Very down to earth people it seems.

I don't have a link to it, but on their blog I recall they mentioned there is a chance they will have to earn additional funds at some point but won't have to earn a lot because their living expenses are pretty low in general. Nothing wrong with planning on that when you retire in your 30's. They've already enjoyed more than a year off and will most likely enjoy many more in the future without needing to work.

Edit: and the comments are pure gold.
Additional funds will be needed because its just another early retirement millennial fantasy.
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Old 05-28-2016, 09:53 PM   #9
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Pretty typical comments you'll find on any extremely early retirement articles. That said, everyone wants to see the math which is a logical ask IMO.

My comment is that I'd rather work a few more years to build in a bit of a safety buffer. But different strokes, for different folks.
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Old 05-29-2016, 07:00 AM   #10
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With respect to the early retirees out here - those in 30's and 40's, I know what it took to get there and so based on my own experience, I'll be one of the doubters....

Wait until the kids come along ... Fortunately IT and chemical engineering are fields where re-employment is likely very easy below age 50.

My money is on this being a 3-5 year sabbatical !
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Old 05-29-2016, 07:36 AM   #11
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Do not buy into this early retirement fantasy that is being sold to the millennial generation. This is fake crap.
Go Curry Cracker! - Spend Little, Save More, Travel the World. Go Curry Cracker!Go Curry Cracker! | Spend Little, Save More, Travel the World. Go Curry Cracker!

I think that couple of software engineers retired at 38. I can not see any reason why high earning couple that lived on 2k month while working could not do it.

Now they live on 4-5k a month.

BTW I love their thoughts on Renting versus owning. http://www.gocurrycracker.com/renters-for-life/
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Old 05-29-2016, 07:56 AM   #12
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Do not buy into this early retirement fantasy that is being sold to the millennial generation. This is fake crap.
If you are a high earning engineer couple in the USA, it happens every day. Or an investment banker, or management consulting. That's what, 1% of the workforce? I did it in a much higher tax environment, as a single not-so-frugal person. A few others here did it as well.

It's not realistic for the other 99%. Starbucks might save your life but it won't get you retired early.
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Old 05-29-2016, 07:59 AM   #13
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Wait until the kids come along ... Fortunately IT and chemical engineering are fields where re-employment is likely very easy below age 50.
Somewhere between 20% and 30% of women will never have children. And I think 25% up to 35% of men.
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Old 05-29-2016, 08:02 AM   #14
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Only three ways to get to other side of that hill: climb up, go around or dig through. I won't pretend it's not there.
Have someone helicopter you there? also known as marry rich or choose wealthy parents
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Old 05-29-2016, 08:09 AM   #15
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I used to hate this type of article back when I was married to my first husband, an unemployed spendthrift who spent everything he made and then maxed out his credit cards. I'd see issues of Money Magazine with the cover photo of yet another smug young couple who had hundreds of thousands of dollars stashed in various accounts, the kids' college accounts fully funded and a paid-for house and it looked like something I'd never be able to do. I didn't hate the couples, though; I knew that two people with similar priorities, working together, could accomplish great financial goals. Some of the haters probably don't even know where to start, so they don't even try and would rather spend it all and rationalize that the game is rigged, you can't win in the market, etc.

I do agree with the people who say it could all fly out the window if they have kids- but maybe that's not in their plans.
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Old 05-29-2016, 08:15 AM   #16
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I do agree with the people who say it could all fly out the window if they have kids- but maybe that's not in their plans.
Go Curry Cracker! - Spend Little, Save More, Travel the World. Go Curry Cracker!Go Curry Cracker! | Spend Little, Save More, Travel the World. Go Curry Cracker!

They have child after they retired at 38 and it is not a big expense if you do not pay for childcare, babysitting etc etc.

It is interesting that majority of those very early retires are Software Professionals Such young couples can make 250k a year combined income. Spend little on Housing and Transportation and it is very doable.
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Old 05-29-2016, 09:31 AM   #17
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I admire the couple adventure spirit and ability to save early in their life yet finding a professional job after a long break is not going to be easy.
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Old 05-29-2016, 09:32 AM   #18
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Go Curry Cracker! - Spend Little, Save More, Travel the World. Go Curry Cracker!Go Curry Cracker! | Spend Little, Save More, Travel the World. Go Curry Cracker!

They have child after they retired at 38 and it is not a big expense if you do not pay for childcare, babysitting etc etc.

It is interesting that majority of those very early retires are Software Professionals Such young couples can make 250k a year combined income. Spend little on Housing and Transportation and it is very doable.
And let's not for get all the tax advantages of having a kid. Deductions, EITC, AFDC, etc. I suspect that their income is low enough to get any subsidy available.
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Old 05-29-2016, 09:36 AM   #19
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Additional funds will be needed because its just another early retirement millennial fantasy.
I disagree. There are plenty of resources out there that make work un-necessary. Making a few dollars in cash on the side is a very do-able thing too.

It would be easy enough to mow 2-3 yards a week, over the course of 3 hours, and make $150+. That's more than many college graduates make. Or clean a house.
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Old 05-29-2016, 09:51 AM   #20
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Yup.
I have two kids (2 and 4) and they are a small part of our budget. They don't eat much, they are easily entertained and incredibly flexible.

The only major expense we have is saving for college for them but that is also debatable as a need. I didn't use my degree at all and I think if I had the choice today between a 4 year degree and 150k starting cash... I'd take the cash.

The biggest cost is opportunity cost. My wife was a nurse and quit when our first was getting close. When you remove 2ND car (we on purpose moved to an area with high walk ability), day care, etc it isn't that much income.

Also with kids we eat out way less.

Clothes can be super expensive or cheap. Toys can be expensive or cheap. Outings can be expensive or cheap.

I could see medical expenses getting high if a major problem happened, but that's true with me getting older as well.

In any case for me personally I was surprised at how little having kids impacted our monthly spending. I think a lot of it is like everything else... you're told it has to be back breakinglly expensive (school, house, car, etc) but in reality there's a wide range.

I think the math of ER is fairly simple... as is the math for working till you're dead. Luck can play a big role, but there's also a fair amount of control. I think if people were taught about it earlier in life many more people would be capable of doing it.

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