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FIRE Before 40 Stories?
Old 05-02-2011, 07:50 PM   #1
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FIRE Before 40 Stories?

Following this thread on some Yahoo tips to retire under 40:
5 Ways to Retire Before Age 40

Led me here:
Age at retirement

Which is a poll from last summer showing about 5% (1 in 20) of the members here retired at under 40.

To anyone who fits that category: I'd love to hear your story (or links to stories by members who FIREd by 40). I've run across a few, but most of the things coming up in my searches are people wishing to do that.
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Old 05-04-2011, 04:49 AM   #2
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Here you go... here are two couples that decide to retire early. But I would not call it ER... they decided there was a different way!

Retire Early Lifestyle
paulvicgroup


Of course, there are two basic scenarios for voluntary early retirement:

  1. We have enough... if we manage it carefully and make certain life choices, we can escape the rate race.
  2. We are suddenly rich.

Most that can do it are in category 1 (for extremely early retirement).... but few do it that are professionally successful (as is the case with the people I listed).

There are many people who have ERd and written books... but the two links are from people who have done it for 20+ years successfully. In other words, what they did seemed to work!

They both had a wanderlust and decided to travel. To paraphrase old blue eyes... They did it their way!
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Old 05-04-2011, 07:17 AM   #3
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I know one person in that category.

He started a one-person, consulting-type business while in high school. As it became successful, he started manufacturing gadgets to help him in his work, and then started selling those gadgets to his clients and their friends. Eventually, he hired a few people to manufacture those gadgets in a little building in his town, so he was a factory owner while still doing the consulting. After a while, he expanded the manufacturing business to include related consumer-type products as well. That was successful, too (remember that he never went to school beyond high school, so it's impressive). At the age of 40, he sold the manufacturing business for $4 million (that was 30 years ago, which would be equivalent to over $10 million today).

Despite living in a fairly small town, with a modest lifestyle, he only lasted a few years before feeling it necessary to start another manufacturing business with related products, just to have somewhere to go every morning. He's still running it today, with just a few employees, and happy as a clam. Some people are just born entrepreneurs, and "retirement" is a foreign concept to them.
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Old 05-04-2011, 09:17 AM   #4
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Quote:
Originally Posted by chinaco
Here you go... here are two couples that decide to retire early. But I would not call it ER... they decided there was a different way!

Retire Early Lifestyle
paulvicgroup

Of course, there are two basic scenarios for voluntary early retirement:

[*]We have enough... if we manage it carefully and make certain life choices, we can escape the rate race.[*]We are suddenly rich.


Most that can do it are in category 1 (for extremely early retirement).... but few do it that are professionally successful (as is the case with the people I listed).

There are many people who have ERd and written books... but the two links are from people who have done it for 20+ years successfully. In other words, what they did seemed to work!

They both had a wanderlust and decided to travel. To paraphrase old blue eyes... They did it their way!
Thanks chinaco. I think I'm gonna try to find a used copy of the book by that second couple.

I was picturing option 1 more (rather than we hit the lotto at 35 and retired... Then blew it all in a few years ), I'm curious if anyone on these boards retired super early and what their stories are.
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Old 05-04-2011, 09:19 AM   #5
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Quote:
Originally Posted by braumeister
I know one person in that category.

He started a one-person, consulting-type business while in high school. As it became successful, he started manufacturing gadgets to help him in his work, and then started selling those gadgets to his clients and their friends. Eventually, he hired a few people to manufacture those gadgets in a little building in his town, so he was a factory owner while still doing the consulting. After a while, he expanded the manufacturing business to include related consumer-type products as well. That was successful, too (remember that he never went to school beyond high school, so it's impressive). At the age of 40, he sold the manufacturing business for $4 million (that was 30 years ago, which would be equivalent to over $10 million today).

Despite living in a fairly small town, with a modest lifestyle, he only lasted a few years before feeling it necessary to start another manufacturing business with related products, just to have somewhere to go every morning. He's still running it today, with just a few employees, and happy as a clam. Some people are just born entrepreneurs, and "retirement" is a foreign concept to them.
Lol. Yeah, I'd imagine a fair amount of people who retire very early (before, say, 40) do "go back" to w*rk (or some form of it). Those stories are relevant too. I suppose.
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Old 05-04-2011, 10:34 AM   #6
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My wife and I (age 37) reached FI last year and I retired in July. Career-wise, my wife is at the top of her game right now and she has decided to keep working for a couple more years. She has some personal goals that she wants to accomplish before pulling the plug. She has chosen March 31, 2013 as her tentative retirement date. But she is not one to sit still for very long. So I wouldn't be surprised if she were to embark on some new venture after that. As for me, I haven't felt the compulsion to go back to work (yet), but I suppose it might happen one day.

Whether our retirement is successful, financially speaking, only time will tell. We have built some back-ups in our plan and I think it will work out, but I think that remaining "agile, mobile, hostile" is our best defense.
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Old 05-04-2011, 10:58 AM   #7
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Retired at 38 ... Wall Street Investment Banker ... haven't worked since (15 years, 11 months and 19 days: not that I'm counting).
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Old 05-04-2011, 11:00 AM   #8
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Quote:
Originally Posted by arebelspy View Post
To anyone who fits that category: I'd love to hear your story (or links to stories by members who FIREd by 40). I've run across a few, but most of the things coming up in my searches are people wishing to do that.
I didn't make the age-40 cut, but it's possible to join the military and finish a 20-year career with a pension & cheap healthcare before age 40. I stuck around until nearly age 42.

Quote:
Originally Posted by arebelspy View Post
Thanks chinaco. I think I'm gonna try to find a used copy of the book by that second couple.
Library.

You can download Billy & Akaisha's book, which I personally feel is more relevant. Paul hasn't updated his since it was printed and the financial advice is only useful if we return to 1980s inflation.

Note that a common theme with these two couples is that expatriate living is generally cheaper than a traditional American community.
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Old 05-04-2011, 12:12 PM   #9
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Every time I glance at the title of this thread, I think for a moment that it refers to a 40 story building Oops!
Attached Images
File Type: jpg fortystories.jpg (10.3 KB, 145 views)
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Old 05-04-2011, 12:18 PM   #10
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When I glance at it, I just wish I had a story.... of small untraceable bills!
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Old 05-04-2011, 12:47 PM   #11
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John Greaney retired at 38 and I believe was retired for at least a decade last I heard. The Retire Early Home Page. was his website.

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Old 05-04-2011, 05:25 PM   #12
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This might interest you as well Early Retirement Extreme: — written by Jacob Lund Fisker, Freelancer, Jacob posts here from time to time as well...
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