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Old 07-05-2016, 06:11 PM   #61
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My friends' son in his midtwenties told his girlfriends he had roommates. The girlfriends ditched him when they found out his roommates were his parents. Not sure if he dangled the "retired" line at them too....
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Old 07-05-2016, 06:17 PM   #62
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Its a nice story, I hope life works out well for him. As others have noted, it's not "retirement" he is experiencing.

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Old 07-05-2016, 07:25 PM   #63
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My friends' son in his midtwenties told his girlfriends he had roommates. The girlfriends ditched him when they found out his roommates were his parents. Not sure if he dangled the "retired" line at them too....

Maybe one of the girlfriends found out about the other girlfriends. Generally a no no. Unless they were into the whole polyamory thing.
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Old 07-05-2016, 08:04 PM   #64
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Maybe one of the girlfriends found out about the other girlfriends. Generally a no no. Unless they were into the whole polyamory thing.
It was more the basement he lived in.
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Old 07-05-2016, 08:34 PM   #65
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I feel so left out.



I don't have a PhD and got my BS when I was 31 years old. That good old military duty got in the way. I did get my MBA when I was 39 though (going at night).



I wish that poster on Reddeit luck though as he is going to need it.



Congratulations on all of you who worked very hard to get your PhD. I hope it was worth it!


I only completed my Masters and I was brutal to anyone who had a doctorate in my field (education). They wouldn't acknowledge they had one around me. I had a couple who worked for me had their doctorates, and I was constantly telling them, "If you guys are so smart and I am so dumb with only a Masters, why am I your boss and making twice your pay?" (Yes we were friends).
And the "Suites" from central office above me got it too. I would always start off meeting about some pain and needing a script from one of the "Doctor's" in here. Then I would say "Oh I keep forgetting, silly me. You all aren't real doctors, you cant prescribe medicine. You just read papers that nobody has ever read, so you can write a paper no one is ever going to read."


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Old 07-05-2016, 09:30 PM   #66
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I only completed my Masters and I was brutal to anyone who had a doctorate in my field (education). They wouldn't acknowledge they had one around me. I had a couple who worked for me had their doctorates, and I was constantly telling them, "If you guys are so smart and I am so dumb with only a Masters, why am I your boss and making twice your pay?" (Yes we were friends).
And the "Suites" from central office above me got it too. I would always start off meeting about some pain and needing a script from one of the "Doctor's" in here. Then I would say "Oh I keep forgetting, silly me. You all aren't real doctors, you cant prescribe medicine. You just read papers that nobody has ever read, so you can write a paper no one is ever going to read."


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The few doctorates that I was associated with were scientific/academic types and worked for me when I was in Big Oil. Most were OK folks, but lived in a different world than us guys and gals that made things happen in the company.
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Old 07-05-2016, 10:49 PM   #67
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I want a kitchen I don't share with more than one other person. I knew a large extended family who lived in an apartment building. So you would have cousins and other family around and they didn't lock doors. We spent the night in the friend's bed while he slept on the couch and people who didn't know came in the bedroom in the night. I love my family and would live that way but still have my own kitchen and space.
My aunt has a farm with a son in his own place off the driveway and another son owns the old farm house but doesn't live there, daughter has the farm across the back fence and granddaughter's farm is nearby. She likes having kids and grand kids and great granddaughter near but each family has it's own home. She is 88 now but has never wanted her kids so far away she couldn't make them dinner.
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Old 07-06-2016, 12:21 AM   #68
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Most were OK folks, but lived in a different world than us guys and gals that made things happen in the company.
One of my Uni buddies went on to get his PhD in Charlottesville and now lives in BC. Nice guy but has a real attitude about his opinions so I ignore them.
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Old 07-06-2016, 04:40 AM   #69
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I find these 25-30 year olds living in a basement/van with $750k-$1 million in NW more interesting (whether you call it "retirement", "not working for a long time", or "being a wealthy bum") than those retiring at 57 with a pension, pulling 1.5% SWR from a $5 million portfolio, and wondering whether the ski chalet and 5000 sf house in the suburbs is enough or whether they should get a 3rd house for summertime vacations.
Agree 100%. I guess my problem is with the intellectual dishonesty.

I'm ok with people 'embellishing' a tad (and expect it online) but it's another thing when you start to believe it yourself.

I know of one 28 year old who brags to everyone within ear-shot that he's a "real estate developer" when in fact he's unemployed and spending his time remodeling his mother's kitchen; has quite the swagger though.

Likewise, this particular poster seems to have some credibility issues as well, so we're perhaps giving him more ink than is warranted.
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Old 07-06-2016, 06:18 AM   #70
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It was more the basement he lived in.
Why such the stigma about living in a basement? I'm looking forward to one day getting my parents house and being able to live in the basement again. You can save on heat in the winter and save a lot on AC in the summer. The light doesn't wake you up at 5am in the summer. You can't hear the screaming kids, lawn mowers, snow blowers, donormotorcycles. My parents basement is by far the best place i've ever lived. My Dad may be getting 100% VA disability soon and they may move to a veterans hospital. I would then get the house cheap. Although I don't want my Dad to be disabled, i'm looking forward to moving back to the basement and getting better sleep in a more comfortable environment. Sure beats apartment or condo living from my experience.
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Is this guy crazy or what
Old 07-06-2016, 06:30 AM   #71
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Is this guy crazy or what

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Why such the stigma about living in a basement? I'm looking forward to one day getting my parents house and being able to live in the basement again. You can save on heat in the winter and save a lot on AC in the summer. The light doesn't wake you up at 5am in the summer. You can't hear the screaming kids, lawn mowers, snow blowers, donormotorcycles. My parents basement is by far the best place i've ever lived. My Dad may be getting 100% VA disability soon and they may move to a veterans hospital. I would then get the house cheap. Although I don't want my Dad to be disabled, i'm looking forward to moving back to the basement and getting better sleep in a more comfortable environment. Sure beats apartment or condo living from my experience.


Its a figure of speech. The physical location of basement living is irrelevant. The reference is directed at being a "slacker, lazy, lack of ambition, freeloading off of parents, failure to launch, etc", person.


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Old 07-06-2016, 06:55 AM   #72
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I am very active on /r/FinancialIndependence 75% of the posts are complete trash. However, I took a liking to this guy, I don't think he is lying. Nor do I think his plan is that far-fetched.
He basically has somewhere to live, a nice emergency fund and "guaranteed income." Build equity and then he will be a multi-millionaire. I am too risk averse to do something like them. When I retire I want to know 100% I will never have to work again. But, we live in different times, and us 20 somethings are looking for more in life than a successful career.
From my POV, if someone is able to amass $1MM in net worth before 30, then they have the wisdom to dictate how their life will unfold going forward. They are the 1% of <30 year olds. It probably means the conventional college > high degree > move up the job ladder approach was scrapped. This takes a lot of intellect and foresight, also intense planning along the way.
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Old 07-06-2016, 09:15 AM   #73
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Likewise, this particular poster seems to have some credibility issues as well, so we're perhaps giving him more ink than is warranted.
Like some of those politicos!
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Its a figure of speech. The physical location of basement living is irrelevant. The reference is directed at being a "slacker, lazy, lack of ambition, freeloading off of parents, failure to launch, etc", person.
My brother retired in 1982 because he was making so much money in his portfolio (while living in our parent's basement). He launched, then came back down after working for 27 years. ER.org did not exist then so he was kind of on his own.
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Old 07-06-2016, 09:27 AM   #74
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I didn't read all the comments but I don't think the guy is crazy. I actually think some posters here with more mainstream investments have much riskier plans. Software engineers are in high demand and make a lot - for plan B he is young enough he would just have to find contract work for a few months of the year to cover his living expenses as long as he keeps living like a college student with low expenses and shared housing. Robert Shiller has said the golden age of investing may be over, and recommends his students keep living like college students.

From what I have read in interviews, Vicki Robin from The Money or Your Life book lives in communal housing and enjoys it. At least some posters here have said college was the best years of their lives. Is living like a college student really so bad? Our kids and their friends seemed pretty happy living like college students, in fact happier than many of our working friends with high stress jobs, big mortgages on houses in the suburbs, long commutes and families to support. One of our kids makes a decent income these days and is actually moving to a larger space with an additional roommate. The roommates are all good friends and enjoy living together.

I haven't increased my standard of living by much after graduating from college 20ish years ago. I don't have a roommate, although I don't think I would mind it. Rent is definitely way too expensive. I pay $940 a month which is pretty much half of my living expenses. I make $60k and spend around $28k. Taxable investment income is another $25k or so.

Once I pull the trigger and ESR/ER I think I'll spend a few years expating in foreign countries. I would not be opposed to living in really cheap hostels. Its possible I could do a lot of traveling around and only spend $12k a year or so. In the US I might do some WWOOFing.

I think I could pretty happy with just a sleeping bag on a floor, if I were traveling and doing interesting things.
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Old 07-06-2016, 09:35 AM   #75
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Here is a 5 minute youtube video I find very inspirational and relevant to this thread:

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Old 07-06-2016, 09:43 AM   #76
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I think I could pretty happy with just a sleeping bag on a floor, if I were traveling and doing interesting things.
That's fine in your 40's or 50's (BTDT), but some of us find it to be less than ideal in our 60's and 70's. Often those of us older retirees find that our joints start to hurt a lot more than they did in our 50's, and it becomes harder to sleep on a floor, or to get up from the floor, the older we get. So, you might want to keep that in mind for your longer term plans.
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Old 07-06-2016, 09:48 AM   #77
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That's fine in your 40's or 50's (BTDT), but some of us find it to be less than ideal in our 60's and 70's. Often those of us older retirees find that our joints start to hurt a lot more than they did in our 50's, and it becomes harder to sleep on a floor, or to get up from the floor, the older we get. So, you might want to keep that in mind for your longer term plans.

I agree. That's why I haven't ESR'd yet. I work for a state government, every year I keep working is another year added to the pension. Tentatively my plan is to ESR/ER in five years at 45. I'll have 20 years in the pension then. Pension income should be around $1.5k-$2k per month from age 60 on, with 20 years in. If I were to quit right now it'd be around $1k-$1.5k. Pension also has yearly 3% COLA once I start drawing on it.
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Old 07-06-2016, 09:59 AM   #78
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I agree. That's why I haven't ESR'd yet. I work for a state government, every year I keep working is another year added to the pension. Tentatively my plan is to ESR/ER in five years at 45. I'll have 20 years in the pension then. Pension income should be around $1.5k-$2k per month from age 60 on, with 20 years in. If I were to quit right now it'd be around $1k-$1.5k. Pension also has yearly 3% COLA once I start drawing on it.
Good thinking! Sounds like you will be able to get up off that floor and sleep on a bed by the time your joints start screaming at you.
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Old 07-06-2016, 10:24 AM   #79
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I think I could pretty happy with just a sleeping bag on a floor, if I were traveling and doing interesting things.
I bought a highly rated camping mat from Amazon, tried it out and it is more comfortable than our master bedroom bed. Some people do sleep on Japanese style futons by choice. I think they especially make sense in high rent areas where space is at a premium, and might not be any less comfortable than a regular bed.

We actually have spare bedrooms so we don't need to save space. But I don't think it would be a hardship to go the futon route either. I kind of like the minimalist idea of it.
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Old 07-06-2016, 10:24 AM   #80
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Here is a 5 minute youtube video I find very inspirational and relevant to this thread:

Interesting. I wonder if he will be singing the same tune in 15 years.

My favorite part is the still picture where he is at a restaurant with friends. While his friends appear to have adult beverages, he has a glass a water. I wonder if it's because he can't afford the $7 microbrew?
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