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Re: How to retire in your 30s
Old 06-27-2006, 04:45 PM   #21
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Re: How to retire in your 30s

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Originally Posted by d
... they are meaningless if that's all you've got ... but if you have all most other dimensions of your life in order, they undoubtedly add to one's enjoyment.
True enough. Being FI is simply a means to an end - it buys one freedom to do what one wants in life. If somebody would pay me for walking the streets or working out for 1-2 hours/day, watching tv for 1-2 hrs/day, playing computer games for 1-2 hrs/day, playing with my kids 2-4 hrs/day, and reading for 2-4 hrs/day, then I'd have no problems working forever.

In the meantime, being FI is an honest goal to have, but not to the neglect of other areas of one's life. As in everything, balance is key.
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Re: How to retire in your 30s
Old 06-27-2006, 06:30 PM   #22
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Re: How to retire in your 30s

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Originally Posted by justin
Re: the military path - great moneywise, but in terms of "quality of life", being shipped of to "exotic locales" every few years (Greenland, Guam, etc.) with family in tow (if you're lucky), let alone deployments to combat zones, might get old.* To each their own I guess.* Maybe "police officer" could get you to ER in your 30's with a pension while still living in one place (if you choose).*

I'm personally ok with slaving away at my comfy desk in an engineering consulting firm for the next decade or so.*
It would all depend on your job in the military!* Just like in the civilian world there are positions that dont move that often.* You could also always go AGR and stay in one spot your entire career.

I personally enjoy the travel.*

My job: Get up early and jump on a plane with some DV. Run the radios untill we land in some other country.* Travel to the local 5* hotel and stay a few nights while checking out the local area.* Rinse Repeat
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Re: How to retire in your 30s
Old 06-27-2006, 07:06 PM   #23
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Re: How to retire in your 30s

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Originally Posted by trixs
Very East Route:

1. Join the military at 17.
2. Attend "FREE" college while saving most of your paycheck.
3. Around age 26 apply for OTS.
4. Do 10 more years in the military.

You can now retire at age 37 with a full 40k+ pension, cheap cheap medical care, and all that extra money you saved!



Have a nice day.

Step 1.5: try not getting killed by an IED, suicide bomber, friendly fire, angry mob of "liberated" locals or similar while "serving the country" in Iraq, Somalia, Afghanistan or similar resorts.

But other than that, it is indeed a great idea. One must wonder why the Army cannot reach its recruiting quota.
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Re: How to retire in your 30s
Old 06-27-2006, 08:23 PM   #24
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Re: How to retire in your 30s

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Originally Posted by trixs
It would all depend on your job in the military! Just like in the civilian world there are positions that dont move that often. You could also always go AGR and stay in one spot your entire career. ...
My job: Get up early and jump on a plane with some DV. Run the radios untill we land in some other country. Travel to the local 5* hotel and stay a few nights while checking out the local area. Rinse Repeat
What's a "DV?" What's an AGR? Sorry - ignorant about this -- good draft lottery number in 1969.
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Re: How to retire in your 30s
Old 06-27-2006, 08:24 PM   #25
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Re: How to retire in your 30s

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Originally Posted by camberiu
But other than that, it is indeed a great idea. One must wonder why the Army cannot reach its recruiting quota.
The way Trixs describes the USAF lifestyle, no one will ever want to join the Army!

Quote:
Originally Posted by Rich_in_Tampa
What's a "DV?" What's an AGR? Sorry - ignorant about this -- good draft lottery number in 1969.
I speak a little joint pidgin-- Distinguished Visitor and Air/Guard/Reserve-- Air Guard, National Guard, or the national service's Reserve forces.
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Re: How to retire in your 30s
Old 06-27-2006, 09:46 PM   #26
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Re: How to retire in your 30s

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Originally Posted by justin
True enough. Being FI is simply a means to an end - it buys one freedom to do what one wants in life. If somebody would pay me for walking the streets or working out for 1-2 hours/day, watching tv for 1-2 hrs/day, playing computer games for 1-2 hrs/day, playing with my kids 2-4 hrs/day, and reading for 2-4 hrs/day, then I'd have no problems working forever.

In the meantime, being FI is an honest goal to have, but not to the neglect of other areas of one's life. As in everything, balance is key.
I recently posted a reply to one of your comments stating I never knew anyone under age 25 who ever had anything of value to say.

I want to publicly say I was wrong. Mea Culpa.
Your above comment proves it.
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Re: How to retire in your 30s
Old 06-27-2006, 09:49 PM   #27
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Re: How to retire in your 30s

Learn how to short sell stocks.*
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Re: How to retire in your 30s
Old 06-27-2006, 09:52 PM   #28
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Re: How to retire in your 30s

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Originally Posted by alphabet soup
I recently posted a reply to one of your comments stating I never knew anyone under age 25 who ever had anything of value to say.
ouch.
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Re: How to retire in your 30s
Old 06-28-2006, 07:42 AM   #29
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Re: How to retire in your 30s

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Originally Posted by The first paragraph
If you make early retirement your highest priority in life
Reminds me of that line from Citizen Kane, about it being easy to get rich, if that's your only goal in life.

I think happiness is a better "highest priority."

Of course ER may be the best route to happiness for some people, and you're more likely to find those people on a board like this, but IMO that's probably a very small portion of the population. I bet most people would be better off with a highest priority of trying to find more pleasurable work, improving their social or family life, improving lovelife, and/or improving their own personality. Those are difficult, but so is retiring in 30's.
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Re: How to retire in your 30s
Old 06-28-2006, 07:49 AM   #30
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Re: How to retire in your 30s

I think marriage and kids are kind of a wild card when it comes to early retirement, but it's not set in stone that they'll delay it. You can't make broad assumptions about something like that. With regards to marriage, two wage earners should allow you to build a big nest egg that much quicker, IF you're both on the same page. And there's the old saying that two can live as cheaply as one. But, there are no guarantees. But then, is anything in life a guarantee?

As for kids, sure they'll cost money. But having them might encourage you to start saving up for their future and setting money aside for things that could come up, such as college, braces, etc. If you didn't have them, you might not have quite as much incentive to plan ahead and save.
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Re: How to retire in your 30s
Old 06-28-2006, 08:52 AM   #31
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Re: How to retire in your 30s

Quote:
Originally Posted by alphabet soup
I recently posted a reply to one of your comments stating I never knew anyone under age 25 who ever had anything of value to say.

I want to publicly say I was wrong. Mea Culpa.
Your above comment proves it.
I just turned 26. That extra year of wisdom probably did it.

My point of view on the "ER in your 30's" deal is this: I'm personally willing to make a few minor sacrifices with limited effects on my Quality of Life in exchange for a very high likelihood of having many decades of life ahead of me to do anything I want.
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Re: How to retire in your 30s
Old 06-28-2006, 10:27 AM   #32
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Re: How to retire in your 30s

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Originally Posted by justin
I just turned 26.* That extra year of wisdom probably did it.* *

My point of view on the "ER in your 30's" deal is this:* I'm personally willing to make a few minor sacrifices with limited effects on my Quality of Life in exchange for a very high likelihood of having many decades of life ahead of me to do anything I want.*
You're 26!!!
Then I stand by my original statement.
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Re: How to retire in your 30s
Old 06-28-2006, 10:30 AM   #33
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Re: How to retire in your 30s

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You're 26!!!
Then I stand by my original statement.
whew, just under the gun
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Re: How to retire in your 30s
Old 06-28-2006, 10:38 AM   #34
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Re: How to retire in your 30s

Damnit, I won't have anything of any value to say for at least another year!

That sounds about right.
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Re: How to retire in your 30s
Old 06-30-2006, 12:04 AM   #35
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Re: How to retire in your 30s

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Originally Posted by justin
Exactly. Economies of scale. Kids cost plenty, but there are plenty of tax benefits too. $1700 per head, minimum in most cases. And they help eat leftovers. A 3 bedroom house/condo doesn't cost 3x as much as a 1 BR house/condo. Sure, you might need a little larger car, but you have to have a car anyway. And you won't have time or energy to go on tons of exotic vacations with kids in tow.

Of course on the flip side, if you have a wife who spends 120% of everything you make, you're probably not going to be able to FIRE soon. Maybe that's ok.
it's pretty obvious how many kids you've had to provide for. Forget about the tax benefits. They don't even make a dent.

I'll give you clue--they don't "help eat the leftovers." You'll be lucky if YOU can find a leftover or two to scarf. If you like 'nice' things--forget it. Plan on replacing a lot of broken stuff. There's not much economy of scale in the bicycle you need to buy them....every few years as they grow. They don't wear out clothing, the outgrow or lose it. Unless you plan to isolate them, they will watch tv and have friends and then want everything they saw on tv or saw their friend with. They'll want their own cellphones. They'll want you to drive them here or there (or buy a car for them). And tell us about the "economy of scale" on their car insurance rates.

Of course, when all this happens, you can explain to them how you are planning on retiring early and don't want to spend money on any of that useless stuff. They'll understand.
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Re: How to retire in your 30s
Old 06-30-2006, 01:38 AM   #36
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Re: How to retire in your 30s

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Originally Posted by bosco
Unless you plan to isolate them, they will watch tv and have friends and then want everything they saw on tv or saw their friend with.* They'll want their own cellphones.* They'll want you to drive them here or there (or buy a car for them).
We've told our kid that she's perfectly welcome to go out and buy all that stuff...

... with her own darn money.

If we had that stuff (or cell phones) and she didn't then it might be a little more difficult to discuss. But we worked hard for what we have, and she's welcome to do the same!
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Re: How to retire in your 30s
Old 06-30-2006, 07:08 AM   #37
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Re: How to retire in your 30s

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Originally Posted by bosco
I'll give you* clue--they don't "help eat the leftovers."* You'll be lucky if YOU can find a leftover or two to scarf.* If you like 'nice' things--forget it.* Plan on replacing a lot of broken stuff.* There's not much economy of scale in the bicycle you need to buy them....every few years as they grow.* They don't wear out clothing, the outgrow or lose it.* Unless you plan to isolate them, they will watch tv and have friends and then want everything they saw on tv or saw their friend with.* They'll want their own cellphones.* They'll want you to drive them here or there (or buy a car for them).* And tell us about the "economy of scale" on their car insurance rates.

Of course, when all this happens, you can explain to them how you are planning on retiring early and don't want to spend money on any of that useless stuff.* They'll understand.* *
And here I was, starting to get a little wistful about not having children.* Thanks, bosco*
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Re: How to retire in your 30s
Old 06-30-2006, 08:39 AM   #38
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Re: How to retire in your 30s

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Forget about the tax benefits. They don't even make a dent.
esp. with these darn nuisance child labor laws....
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Re: How to retire in your 30s
Old 06-30-2006, 09:43 AM   #39
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Re: How to retire in your 30s

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Originally Posted by bosco
it's pretty obvious how many kids you've had to provide for. Forget about the tax benefits. They don't even make a dent.

I'll give you clue--they don't "help eat the leftovers." You'll be lucky if YOU can find a leftover or two to scarf. If you like 'nice' things--forget it. Plan on replacing a lot of broken stuff. There's not much economy of scale in the bicycle you need to buy them....every few years as they grow. They don't wear out clothing, the outgrow or lose it. Unless you plan to isolate them, they will watch tv and have friends and then want everything they saw on tv or saw their friend with. They'll want their own cellphones. They'll want you to drive them here or there (or buy a car for them). And tell us about the "economy of scale" on their car insurance rates.

Of course, when all this happens, you can explain to them how you are planning on retiring early and don't want to spend money on any of that useless stuff. They'll understand.
Well, I've got one right now, another one due in 7 weeks, and that might not be the last. Let's just say that you and I seem to have different opinions of how to properly raise a child. I'm more on the "Nords" side of things - if she wants to buy it, that's fine. That's what her allowance is for.

I can understand and respect that different folks have different ways in which they desire to raise their children. I grew up in a very frugal household, and I can't say anything was lacking for me as I grew up. If I wanted to buy something, I did - with my own money. I expect to give the same quality of life to my child. I don't harbor any bitter resentment towards my parents for it today. In fact, I think it made me a better person.

Besides, my kids have uncles and aunts that spoil them with endless quantities of "stuff".

In the future, if my kids actually needed something that I couldn't afford on my 4% SWR (or whatever), then I'd probably figure out a way to take care of it, including working.

Worse case - I'm wrong, kids cost more than I think, and I ER in 12 years instead of 10. A trade I would make without blinking an eye.

It is amazing to me that the bottom 20% of families raise kids on $4000/yr and the top 20% spend $30,000/yr (made up numbers, but the magnitude is correct).
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Re: How to retire in your 30s
Old 06-30-2006, 07:46 PM   #40
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Re: How to retire in your 30s

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Originally Posted by bosco
* it's pretty obvious how many kids you've had to provide for.* Forget about the tax benefits.* They don't even make a dent.

I'll give you* clue--they don't "help eat the leftovers."* You'll be lucky if YOU can find a leftover or two to scarf.* If you like 'nice' things--forget it.* Plan on replacing a lot of broken stuff.* There's not much economy of scale in the bicycle you need to buy them....every few years as they grow.* They don't wear out clothing, the outgrow or lose it.* Unless you plan to isolate them, they will watch tv and have friends and then want everything they saw on tv or saw their friend with.* They'll want their own cellphones.* They'll want you to drive them here or there (or buy a car for them).* And tell us about the "economy of scale" on their car insurance rates.

Of course, when all this happens, you can explain to them how you are planning on retiring early and don't want to spend money on any of that useless stuff.* They'll understand.* *
This reflects my experience, both as a child harassing my parents to join a country club, get a better car, buy me a leather jacket, and as a parent, trying to deflect the same from my kids. Donít forget lessons- music, karate, basketball camp, riding, Ö It was harder for me to say no to these things, because frankly, almost all of these things are much more easily and well learned by kids than when one is older.

I held it down more than my Dad was able to. But the first thing my sons did when they got jobs was buy so damn much stuff that it helped erase their perceived deprivation.

I do understand Nords, it seems that sometimes military families manage to exert more control over their kids than the usual civilians. But for the average guy living in a middle class community, having kids is like having a tiger by the tail. Esp if they are girls!

Anyway, bring it on, I love the self assurance coming from our younger members.*

Incidentally, one of my sons has 5x my net worth, and he has zero interest in ER. He saw enough of that **** growing up!

Ha
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