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Re: Stories of TRULY YOUNG ERs Under 40s
Old 05-03-2006, 02:49 PM   #41
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Re: Stories of TRULY YOUNG ERs Under 40s

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I sold the sports car and now drive a very useful (and ugly) truck. *
Wab, wasn't that a Miata?

'Nuff said.

Ha
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Re: Stories of TRULY YOUNG ERs Under 40s
Old 05-03-2006, 02:50 PM   #42
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Re: Stories of TRULY YOUNG ERs Under 40s

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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 think this is all a matter of perspective. Some people just dont value things the same. I would suggest that you read something like The Millionaire Next Door for some ideas on wealth.
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Re: Stories of TRULY YOUNG ERs Under 40s
Old 05-03-2006, 02:50 PM   #43
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Re: Stories of TRULY YOUNG ERs Under 40s

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Originally Posted by HaHa
Wab, wasn't that a Miata?

'Nuff said.
And an MR2 Spyder. * *Hey, it's the horsepower to weight ratio that does it, not the price. *
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Re: Stories of TRULY YOUNG ERs Under 40s
Old 05-03-2006, 02:54 PM   #44
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Re: Stories of TRULY YOUNG ERs Under 40s

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Originally Posted by Martha
So Canadian Girl, how old are you?* What do you want from life?*
Martha - your 'what do you want from life' is the million dollar question. *If I knew I guess I wouldn't be searching for the 'unattainable'. *Perhaps you too can advise me on how to get to this point.

As for how old?.....early 40s.......mentally..in my 20s
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Re: Stories of TRULY YOUNG ERs Under 40s
Old 05-03-2006, 02:55 PM   #45
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Re: Stories of TRULY YOUNG ERs Under 40s

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Originally Posted by wab
And an MR2 Spyder. * *Hey, it's the horsepower to weight ratio that does it, not the price. *
The MR2 saved you. Never saw a teeny-bopper driving an MR2. *

Ha
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Re: Stories of TRULY YOUNG ERs Under 40s
Old 05-03-2006, 05:03 PM   #46
 
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Re: Stories of TRULY YOUNG ERs Under 40s

Retiring Early was never as much a goal to me as much as Financial Independence. A recognition that someday, my life as an overpaid employee would come to an end and I did not want to actually have to work for a living
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Re: Stories of TRULY YOUNG ERs Under 40s
Old 05-03-2006, 05:20 PM   #47
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Re: Stories of TRULY YOUNG ERs Under 40s

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If I knew I guess I wouldn't be searching for the 'unattainable'. Perhaps you too can advise me on how to get to this point.
Stop searching since happiness is a state of mind.
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Re: Stories of TRULY YOUNG ERs Under 40s
Old 05-03-2006, 05:22 PM   #48
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Re: Stories of TRULY YOUNG ERs Under 40s

I had to get off the treadmill for a while for it to sink in. Stuff <> happiness and 90% of what I did for work = ridiculous.
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Re: Stories of TRULY YOUNG ERs Under 40s
Old 05-03-2006, 06:54 PM   #49
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Re: Stories of TRULY YOUNG ERs Under 40s

i was always around stuff but never caught up by it. my happiest, most memorable times where not at fancy restaurants or hotels or yachts and i've had all that in my life.

my best times were barefoot on a beach with friends and a few beers. exploring a new trail on an island that lead us to a 16th century ruin with a swimming pool build in at the back of someone's estate. getting drunk in high school and skinny dipping & pool hopping from condo to condo along the beach.

working in the garden and quietly contemplating life, sleeping and dreaming and having nothing at all to do with anything that costs anything. living the bohemian life and trading in seashells.

nothing is more adventurous, nothing more thrilling, nothing is more demanding, nothing more satisfying than self-discovery, introspection, the journey within. everything else is distraction.

"know yourself. if you need help, call the f.b.i." ~~ the deteriorata, national lampoon, circa 1970something
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Re: Stories of TRULY YOUNG ERs Under 40s
Old 05-03-2006, 08:46 PM   #50
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Re: Stories of TRULY YOUNG ERs Under 40s

When we first ER'd, we set aside quite a princely sum for travel in style. In general I think that was a good idea - have something to "splurge" without concern for the total portfolio.

And we went on some mighty fine trips, some in high style.

And you know what? Couldn't care less about the "5-star" hotels. They don't appeal to me any more than your regular motel. It's still just a barren, empty, sterile room. Little comfort - no matter how "fancy" the presentation.

Actually - I had already figured this one out from traveling on business trips - the fancy hotels just don't deliver that much for the price. Really nothing more than a changing room/place to sleep.

The absolute most fun trip we ever had involved staying in extremely cramped cabins in a 80 foot long-range fishing vessel plus shared showers. But we sailed the Sea of Cortez from dawn till dusk every day following whales and other marine creatures. And the ship cook was amazing. The decks and common areas very nice. The wildlife encounters, the views, the mooring near secluded bays and islands - that was so fantastic, it really didn't matter where we slept, showered or changed.

It was a pleasure to see how much our travel expenses came down after we figured out how to do things "our way" at our own pace. Using an RV instead of staying in hotels/motels was a biggie. It's amazing what a different it makes when you are staying in your "own space". And of course - no guides, no groups, no car rentals, - way less expensive.

When you are working, you have to pack as much vacation as you can into a the short amount of time you have available. You have to fly there - again time constraints. You want the best of everything, the biggest bang for your buck. When you aren't working anymore and have oodles of time, priorities change. You want a more leisurely experience. You're not willing to follow someone else's agenda, you want to create your own. The amazing thing is that as you have more time, recreational travel becomes less expensive and less stressful.

Audrey
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Re: Stories of TRULY YOUNG ERs Under 40s
Old 05-03-2006, 09:49 PM   #51
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Re: Stories of TRULY YOUNG ERs Under 40s

I ERed at 38. My story is a combination of motivation and hard work, risk taking, luck, LBYM, and not getting too greedy. Here's what I did:

1. Went to University, worked very hard and did well
2. Got interested in a specialty and went to a good grad school
3. Joined a start-up worked my ass off
4. Developed interests outside of work
5. Company was successful, sold my position on the way up, and on the way down, and diversified.
6. Repeat 3-5. ER at 38.

I was lucky to have selected a speciality that was in demand and to have worked during the booming 90s. I was smart to take risks while young and to diversify out of my winnings. I made good money, saved and invested. I could have and should have pulled the trigger a year sooner.
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Re: Stories of TRULY YOUNG ERs Under 40s
Old 05-03-2006, 09:56 PM   #52
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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?
CG - I'd recommend reading "Your Money or Your Life". Take the financial advice ("just buy bonds") with a big grain of salt, but the book did cause me to look at my own spending habits and changed my thinking about how much "stuff" I want in my life.
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Re: Stories of TRULY YOUNG ERs Under 40s
Old 05-03-2006, 10:02 PM   #53
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Re: Stories of TRULY YOUNG ERs Under 40s

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Originally Posted by HaHa
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.
Well put Ha. *Who we are and what we are is not as much a product of our own doing as most would believe. *A healthy level of acceptance and a good dose of openmindedness are attributes I admire. *In my belief system, you only get one pass through life and you do the best you can with what you've got and enjoy life as much as you can, whether you're dealt four aces or not.
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Re: Stories of TRULY YOUNG ERs Under 40s
Old 05-04-2006, 06:50 AM   #54
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Re: Stories of TRULY YOUNG ERs Under 40s

I can also support the recommendation for "Your money or your life".
I have always lived below my means but this book helped me to realise that it is possible to ER if you have a goal and line up your forces, even without the lottery or start-up profits.
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Re: Stories of TRULY YOUNG ERs Under 40s
Old 05-04-2006, 09:52 AM   #55
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Re: Stories of TRULY YOUNG ERs Under 40s

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Originally Posted by audreyh1
When you aren't working anymore and have oodles of time, priorities change.* You want a more leisurely experience.* You're not willing to follow someone else's agenda, you want to create your own.* The amazing thing is that as you have more time, recreational travel becomes less expensive and less stressful.
the saying among cruising liveaboard boaters is "i've got no schedule and i'm sticking to it."
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Re: Stories of TRULY YOUNG ERs Under 40s
Old 05-04-2006, 11:54 AM   #56
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Re: Stories of TRULY YOUNG ERs Under 40s

I'm semi-retired at 35. The main things that enabled this were employee stock options from high tech work, saving rather than spending, and a willingness to live on a barebones budget
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Re: Stories of TRULY YOUNG ERs Under 40s
Old 05-04-2006, 12:15 PM   #57
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Re: Stories of TRULY YOUNG ERs Under 40s

I think it is a bit more realistic to retire by 40 in Canada. With low healthcare costs and if you can pay for Universty up front you are really ahead by 22. I went to University got $70,000 in debt between the DW and me and I'm still thinking I can pull off ER by 45. Just finishing off the last of student debt this year then it's pay off the house over the next 6 or 7 years and save like mad for a decade and cash out.

I even run gloom and doom models and I still think the goal of 45 should be possible.

CF
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Re: Stories of TRULY YOUNG ERs Under 40s
Old 05-04-2006, 12:25 PM   #58
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Re: Stories of TRULY YOUNG ERs Under 40s

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I think it is a bit more realistic to retire by 40 in Canada.*
CF - being a fellow Canadian to another, what do you think is a realistic goal to retire by 45?
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Re: Stories of TRULY YOUNG ERs Under 40s
Old 05-04-2006, 04:01 PM   #59
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Re: Stories of TRULY YOUNG ERs Under 40s

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Originally Posted by Cut-Throat
Retiring Early was never as much a goal to me as much as Financial Independence. A recognition that someday, my life as an overpaid employee would come to an end and I did not want to actually have to work for a living
Perhaps that should be the real question posed in this thread. Truly young FI's under 40, rather than RE's. The under-40 set isn't ready for the rocking chair, nor should they be. They've worked for less than half of their viable working years, and may be more interested in doing something more meaningful in terms of work. Work is not "work" if you really enjoy doing it and don't want to retire. Mind you, there are few people that I know who fit this mold. The ones I know are artistic types: gallery owner, chef, wine steward (sommelier), travel guide writer and guitarist in a local band.
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Re: Stories of TRULY YOUNG ERs Under 40s
Old 05-04-2006, 04:56 PM   #60
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Re: Stories of TRULY YOUNG ERs Under 40s

I have answered this question before. Had a great investment advisor. Right timing, frugal living, etc. And my investment advisor was not for hire, just a rich older friend who has passed on. Now
i have a financial consultant i am thinking of firing.
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