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Re: Stories of TRULY YOUNG ERs Under 40s
Old 05-03-2006, 09:31 AM   #21
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Re: Stories of TRULY YOUNG ERs Under 40s

um, it was a porsche 911 carrera convertible and i'm pretty sure it came with a yacht. what, you think mom doesn't want us to have fun?

yes, you can lbym and enjoy the good life. you just have to know a bunch of people with a bunch of boats.

and that was most of my odd life. one of my high school suppliers friends had a charter company so we used to have fun on a few 100+ footers. a board member of a cousin's company had a 90-footer and used to take us out on weekends with his captain and crew. my best buddy and i both had parents with boats and, it seemed to us, a never ending fuel supply.

to make up for our good fortune we used to pick up hitchhikers sitting on the seawalls watching the boats go by and show them a good time. other people living on other people's other people's money. see, i told you i was a socialist.
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Re: Stories of TRULY YOUNG ERs Under 40s
Old 05-03-2006, 10:03 AM   #22
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Re: Stories of TRULY YOUNG ERs Under 40s

Heck, to some people, settling for a Porshe just MIGHT be LBYM, if they could just as easily afford a Lambo, Aston Martin, Ferrari, etc.
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Re: Stories of TRULY YOUNG ERs Under 40s
Old 05-03-2006, 01:06 PM   #23
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Re: Stories of TRULY YOUNG ERs Under 40s

Figured that one had to be entrepeneurial and/or lucky to make it under 40. Wanted proof that it is definitely not the norm. LBYM can work but not quite as much fun. So the goal for me is to ER under 50.

Isn't the goal to ER AND live really comfortably? What's the fun ERing but needing to 'scrimp' and watch your pennies. I have always believed that when one ERs that you are doing the same or better in your lifestyle than when you were working. True, your lifestyle is great because you're not working, but I am referring to one's overall lifestyle. The same theory goes when when goes on vacation. I personally don't believe that one takes a vacation below the lifestyle that one lives at home. If you live in 4 or 5 star surroundings, you should be able to vacation that way. Same as ERing. Not much reason to ER if you go down a notch or two in lifestyle.
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Re: Stories of TRULY YOUNG ERs Under 40s
Old 05-03-2006, 01:20 PM   #24
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Re: Stories of TRULY YOUNG ERs Under 40s

My goal is to retire by the time I'm 45. I figure by then I'll have at least $1M saved up and a free-and-clear house. I think that would be enough for me to live comfortably, as I'm just not that extravagant of a person.

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Re: Stories of TRULY YOUNG ERs Under 40s
Old 05-03-2006, 01:40 PM   #25
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Re: Stories of TRULY YOUNG ERs Under 40s

Canadian Girl, Lots of people probably think the way you do and most end up not being able to retire early. I think many people on this board have assessed their lives and have figured out that 5 star accomodations that they leave every day to go to work do not make them as happy as 3 star accomodations that they see all day long.

As far as travelling on the high end, I've done it both ways and have found that you do not see as much of the true nature of the place you are visiting when you insulate yourself in a posh hotel.

I quit work in my mid 30s - luck, skill and not going along with what this materialistic society expects of me enabled it. DH will quit early next year.
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Re: Stories of TRULY YOUNG ERs Under 40s
Old 05-03-2006, 01:42 PM   #26
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Re: Stories of TRULY YOUNG ERs Under 40s

Quote:
Originally Posted by wab
If you want to exit by 40 with a "comfortable" life, I don't think the traditional advice of saving and LBYM will do the trick.* * You'll probably either need hypergrowth, lots of leverage, or a big inheritance.
I think you're right. *Given that hypergrowth and inheritance are basically out of one's control, my strategy has been lots of leverage. *And from the recent boost of the real estate market, it's helped alot. *The question is managing this in the near future.
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Re: Stories of TRULY YOUNG ERs Under 40s
Old 05-03-2006, 01:51 PM   #27
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Re: Stories of TRULY YOUNG ERs Under 40s

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Originally Posted by shiny
Canadian Girl,* Lots of people probably think the way you do and most end up not being able to retire early.* I think many people on this board have assessed their lives and have figured out that 5 star accomodations that they leave every day to go to work do not make them as happy as 3 star accomodations that they see all day long.

As far as travelling on the high end, I've done it both ways and have found that you do not see as much of the true nature of the place you are visiting when you insulate yourself in a posh hotel.

I quit work in my mid 30s - luck, skill and not going along with what this materialistic society expects of me enabled it.* DH will quit early next year (at 39)
Shiny- I understand what you're saying and you're right about the travel and the materialistic pursuits. But I guess it really comes down to having the CHOICE to stay at whatever star hotel you want. It sure is nice to know that you CAN but you choose not to. Quite different than if you can't because you don't have the means or you wouldn't want to but have the financial means to. I think I'd like to ER and have the CHOICE to do whatever I want however I want to....AND be happy about it.
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Re: Stories of TRULY YOUNG ERs Under 40s
Old 05-03-2006, 01:58 PM   #28
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Re: Stories of TRULY YOUNG ERs Under 40s

I remember when I first asked myself "what's my number?" I came up with $10M. I figured that would allow me to buy a mansion and live a no-compromise lifestyle.

I have since readjusted my expectations.
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Re: Stories of TRULY YOUNG ERs Under 40s
Old 05-03-2006, 02:01 PM   #29
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Re: Stories of TRULY YOUNG ERs Under 40s

Quote:
Originally Posted by wab
I remember when I first asked myself "what's my number?" I came up with $10M. I figured that would allow me to buy a mansion and live a no-compromise lifestyle.

I have since readjusted my expectations.
Ours was $10M plus an Aston Martin. Times have changed!
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Re: Stories of TRULY YOUNG ERs Under 40s
Old 05-03-2006, 02:04 PM   #30
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Re: Stories of TRULY YOUNG ERs Under 40s

Quote:
Originally Posted by wab
I remember when I first asked myself "what's my number?"* * I came up with $10M.* *I figured that would allow me to buy a mansion and live a no-compromise lifestyle.

I have since readjusted my expectations.*
So what is the number now?
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Re: Stories of TRULY YOUNG ERs Under 40s
Old 05-03-2006, 02:04 PM   #31
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Re: Stories of TRULY YOUNG ERs Under 40s

Yeah, and as far as choices are concerned, I understand. No one is aiming for a life of poverty (except for Unclemick who does that sort of thing for fun )
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Re: Stories of TRULY YOUNG ERs Under 40s
Old 05-03-2006, 02:05 PM   #32
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Re: Stories of TRULY YOUNG ERs Under 40s

Quote:
Originally Posted by Canadian Girl
Shiny- I understand what you're saying and you're right about the travel and the materialistic pursuits.* But I guess it really comes down to having the CHOICE to stay at whatever star hotel you want.* It sure is nice to know that you CAN but you choose not to. Quite different than if you can't because you don't have the means or you wouldn't want to but have the financial means to.* I think I'd like to ER and have the CHOICE to do whatever I want however I want to....AND be happy about it.
And we all live in a world called Perfect.

I would like never to get a chronic disease.
I would like to live to 110.
I would like to win every case I bring for my clients.
I would like to give millions to charity

I don't much care if I stay in a 5 star hotel.
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Re: Stories of TRULY YOUNG ERs Under 40s
Old 05-03-2006, 02:13 PM   #33
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Re: Stories of TRULY YOUNG ERs Under 40s

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Originally Posted by Martha
And we all live in a world called Perfect.

I would like never to get a chronic disease.
I would like to live to 110.
I would like to win every case I bring for my clients.
I would like to give millions to charity

I don't much care if I stay in a 5 star hotel.
So for you - you'd have the CHOICE to give millions to charity. No problem here. It's all about CHOICES and freedom to do whatever you wish. If it sounds unattainable, let me know.
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Re: Stories of TRULY YOUNG ERs Under 40s
Old 05-03-2006, 02:15 PM   #34
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Re: Stories of TRULY YOUNG ERs Under 40s

Quote:
Originally Posted by wab
I remember when I first asked myself "what's my number?"* * I came up with $10M.* *I figured that would allow me to buy a mansion and live a no-compromise lifestyle.

I have since readjusted my expectations.*
Wab - so what is your new number now?
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Re: Stories of TRULY YOUNG ERs Under 40s
Old 05-03-2006, 02:15 PM   #35
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Re: Stories of TRULY YOUNG ERs Under 40s

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Originally Posted by Canadian Girl
So what is the number now?
I won't tell you, but I'll tell you this. * *I have more than I need, but I now find "stuff" to be oppressive. * I sold the sports car and now drive a very useful (and ugly) truck. * I sold the mansion and now live in a little beach cottage. * I had a kid, whom I love more than anything (and she provides a constant source of amusement). * And I don't travel much, because I no longer need to escape work and take vacations. * Life is good.
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Re: Stories of TRULY YOUNG ERs Under 40s
Old 05-03-2006, 02:20 PM   #36
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Re: Stories of TRULY YOUNG ERs Under 40s

Quote:
Originally Posted by Canadian Girl
So for you - you'd have the CHOICE to give millions to charity.* No problem here.* It's all about CHOICES and freedom to do whatever you wish.* If it sounds unattainable, let me know.
Unobtainable? *Duh. *

Even though I have some big bucks, I do not win all my cases, odds are I won't live close to 110, and I already have a chronic disease. And odds are millions are not going to go to charilty from me.

But my happiness is not tied to having enough money to make the choice between a 5 star lifestyle and a 3 star lifestyle. Abd you never have freedom to do whatever you wish. *

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Re: Stories of TRULY YOUNG ERs Under 40s
Old 05-03-2006, 02:21 PM   #37
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Re: Stories of TRULY YOUNG ERs Under 40s

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Originally Posted by Canadian Girl
Isn't the goal to ER AND live really comfortably? *What's the fun ERing but needing to 'scrimp' and watch your pennies. *I have always believed that when one ERs that you are doing the same or better in your lifestyle than when you were working. *True, your lifestyle is great because you're not working, but I am referring to one's overall lifestyle. *The same theory goes when when goes on vacation. *I personally don't believe that one takes a vacation below the lifestyle that one lives at home. *If you live in 4 or 5 star surroundings, you should be able to vacation that way. *Same as ERing. *Not much reason to ER if you go *down a notch or two in lifestyle.
I would agree with this, except that many of us were very unhappy in our jobs, and didn't want to go around again. Some also were involuntarily retired, acquired disabilities, etc. So there are many reasons to ER, leading to many different material lifestyles. To be truly rich, as in beyond considering expenses is not in the future or present of most of those here.

I came out of the 70s with a back to the land bent. It took me along time to figure out what the financial issues were, let alone how to responsibly solve them.

Ha

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Re: Stories of TRULY YOUNG ERs Under 40s
Old 05-03-2006, 02:26 PM   #38
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Re: Stories of TRULY YOUNG ERs Under 40s

So Canadian Girl, how old are you? What do you want from life?
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Re: Stories of TRULY YOUNG ERs Under 40s
Old 05-03-2006, 02:35 PM   #39
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Re: Stories of TRULY YOUNG ERs Under 40s

Quote:
Originally Posted by wab
I won't tell you, but I'll tell you this. * *I have more than I need, but I now find "stuff" to be oppressive. * I sold the sports car and now drive a very useful (and ugly) truck. * I sold the mansion and now live in a little beach cottage. * I had a kid, whom I love more than anything (and she provides a constant source of amusement). * And I don't travel much, because I no longer need to escape work and take vacations. * Life is good.
I'd love to know how you came to this . I'd love to reach this state of mind. Perhaps you are right that we need the 'stuff' to escape. Perhaps you can advise?
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Re: Stories of TRULY YOUNG ERs Under 40s
Old 05-03-2006, 02:46 PM   #40
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Re: Stories of TRULY YOUNG ERs Under 40s

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Originally Posted by Canadian Girl
I'd love to know how you came to this . I'd love to reach this state of mind.* Perhaps you are right that we need the 'stuff' to escape.* Perhaps you can advise?
That is a seriously good question.

Do you have a kid?* *If not, get one.* *Not only are they entertaining, but they force you to lose all of your self-conscious status seeking habits.* *Making loud rude noises and disgusting messes does that for you.

And if you have enough stuff for long enough, the stuff will punish you.* *Eventually, you'll get the message and stop buying stuff.

Finally, hormones play a role.* *Youth makes you crave adrenaline (or it did me, anyway).* * Eventually, you recognize adrenaline for what it is.* *A hormone.
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