|
|
07-16-2019, 03:42 PM
|
#61
|
Recycles dryer sheets
Join Date: Mar 2018
Location: Oklahoma City
Posts: 154
|
When I was 32, I also had 2 young boys (a toddler and a newborn). Then my wife & I attended a "get out of debt" seminar at church and learned about emergency funds, snowballs, LBYM, etc. We set a goal to pay off our mortgage early and invest for early retirement "someday".
Now 22 years later, our sons are grown and out of college, and we've been FI for many years.
I'm planning to RE from my W2 j*b in 6 months. I give it up to anyone that already has $800K at the age we really got the (snow)ball rolling!
Not sure I would feel comfortable pulling the trigger with that many years left, but everyone is different. Fortunately, at 32 there's always time to return!
Like some once said, "Good decisions come from experience, which comes from Bad decisions!"
|
|
|
|
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!
Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!
You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!
|
07-17-2019, 05:10 PM
|
#62
|
Recycles dryer sheets
Join Date: Dec 2018
Posts: 129
|
I have always enjoyed MMM. Not sure why some folks here do not care for him much? Perhaps a few examples will help me understand.
|
|
|
07-17-2019, 05:17 PM
|
#63
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2002
Location: Texas: No Country for Old Men
Posts: 50,021
|
Quote:
Originally Posted by Mountain skier
I have always enjoyed MMM. Not sure why some folks here do not care for him much? Perhaps a few examples will help me understand.
|
Reading through these threads will shed some light on why some like him and some don't.
http://www.early-retirement.org/foru...che-66459.html
http://www.early-retirement.org/foru...ost-95534.html
__________________
Numbers is hard
|
|
|
07-17-2019, 05:18 PM
|
#64
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jan 2006
Posts: 5,350
|
Quote:
Originally Posted by Mountain skier
I have always enjoyed MMM. Not sure why some folks here do not care for him much? Perhaps a few examples will help me understand.
|
I think many of the people on here are high spenders and don't want to accept that you don't NEED $60K+/yr to retire. You can retire on <$30K/yr like many, many people have. Not everyone wants to travel the world or eat out 10+ times a week.
|
|
|
07-17-2019, 05:37 PM
|
#65
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Feb 2013
Posts: 9,358
|
Quote:
Originally Posted by aaronc879
I think many of the people on here are high spenders and don't want to accept that you don't NEED $60K+/yr to retire. You can retire on <$30K/yr like many, many people have. Not everyone wants to travel the world or eat out 10+ times a week.
|
Both MMM and the ERE guys were promoting the low cost lifestyle before the ACA, which wasn't realistic for many families without group health insurance. Without the ACA subsidies our premiums alone would be $25K this year. MMM does seem to travel the world and eat out - he just used to leave those expenses out of his posted budgets, like he did with other categories like taxes and home maintenance. If I left out travel, income taxes, home maintenance and healthcare my expenses would look pretty good, too. As for the extreme retirement guy, most posters here on Medicare seem to spend at least $5K per person annually, so pretty hard for a person to live on $10K when half that goes to healthcare, not including any big bills like hearing aids or dental work.
I grew up in an under $30K kind of household so I know it can be done without going hungry, but we did have employer health insurance and we went camping for vacations, not jetting off to Hawaii and Ecuador.
__________________
Even clouds seem bright and breezy, 'Cause the livin' is free and easy, See the rat race in a new way, Like you're wakin' up to a new day (Dr. Tarr and Professor Fether lyrics, Alan Parsons Project, based on an EA Poe story)
|
|
|
07-18-2019, 10:54 AM
|
#66
|
Recycles dryer sheets
Join Date: Jul 2019
Location: Phoenix
Posts: 328
|
The FIRE bloggers all suffer from a cult of personality to various degrees. MMM perhaps being the most extreme, but others have the problem too. Being blogs, they control the platform, the content and its tone. And more importantly, they can censor comments that aren't appropriately rah-rah or deferential.
That's why an open forum like this, will always be much more worthwhile.
|
|
|
07-18-2019, 11:00 AM
|
#67
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jul 2008
Posts: 35,712
|
+1
Groupthink is usually (always?) not good. Dissenting views should be heard.
__________________
"Old age is the most unexpected of all things that happen to a man" -- Leon Trotsky (1879-1940)
"Those Who Can Make You Believe Absurdities Can Make You Commit Atrocities" - Voltaire (1694-1778)
|
|
|
07-18-2019, 11:35 AM
|
#68
|
Moderator
Join Date: Nov 2014
Posts: 9,171
|
If the guy in the original post is debt free with $800K at 32, he’s doing quite well. I never loved my job, but I would take that at 32 and project what I’d have at 40 and dream about a nicer retirement than just getting by. At 32, I’d also consider finding my passion instead of retiring. He’s built a great cushion and could do gig work and have lots of time for family, etc. To work as hard as he (they, I’m sure his spouse was in the game too) just to scrap by for the next several decades does seem like a very rewarding life to me.
__________________
Every day when I open my eyes now it feels like a Saturday - David Gray
|
|
|
07-18-2019, 11:47 AM
|
#69
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jul 2003
Location: Kansas City
Posts: 7,968
|
Quote:
Originally Posted by W2R
I haven't read that forum since Jacob took that high dollar full time job as a quant, in Chicago.
The amazing level of frugality that is reported on that site is unrealistic for the kinds of lifestyles that many of us live. Despite that, I do think that reading there could be valuable for motivational purposes when saving for retirement.
For example, a person might think, "Jacob made a rake rather than buying one. Oh well, I suppose that is insane but I guess I could at least check the Dollar Store or yard sales, to see if I can find a cheaper rake than those at Home Depot."
|
Sans the kids, (ER'd 1993 - to present) early on on I took great great pleasure being really really cheap and could/have in the past regaled this forum with embellished tales of 'Swamp' living. And with a little temp work, taking in boarders, onset of pension at 55, early SS and time in the market plus romance and marriage living expenses have drifted up 10x from my all time never to be repeated one year low.
Bragging is fun BUT do I wish to go back and live that lifestyle - er NO!
heh heh heh - Now having past SS and RMD ages knowing people for whom it is not a choice - I am extremely grateful for this forum clear back to Dory36 days.
P.S. No longer re use dryer sheets and neither does my wife. In joke.
|
|
|
07-18-2019, 05:12 PM
|
#70
|
Thinks s/he gets paid by the post
Join Date: May 2019
Posts: 2,816
|
Quote:
Originally Posted by LarryMelman
The FIRE bloggers all suffer from a cult of personality to various degrees. MMM perhaps being the most extreme, but others have the problem too. Being blogs, they control the platform, the content and its tone. And more importantly, they can censor comments that aren't appropriately rah-rah or deferential.
That's why an open forum like this, will always be much more worthwhile.
|
For certain, regarding the MMM forum, the members tend to attack anyone posting anything politically conservative in nature. It definitely feels very cult-like.
|
|
|
|
|
Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
|
|
Thread Tools |
|
Display Modes |
Linear Mode
|
Posting Rules
|
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts
HTML code is Off
|
|
|
|
» Recent Threads
|
|
|
|
|
|
|
|
|
|
|
|
|
» Quick Links
|
|
|