Join Early Retirement Today
Thread Tools Search this Thread Display Modes
Old 08-17-2016, 06:37 PM   #21
Recycles dryer sheets
Olbidness's Avatar
Join Date: Jan 2009
Location: W. Galveston Bay
Posts: 137
I've skimmed his blog and he looks to be on the right track from my POV. He advocates a LBYM lifestyle that many here would agree with. He cites the 4 percent rule as his basis for "enough" and while thats more rear view mirror than crystal ball, it's all we have. The things I would quibble about would be that he is still very young which means lots of years in retirement, and he has children. I can accept the consequences that I suffer for bad decisions I make but I find it much harder to make the ones I love suffer. If he were older and childless, or at least had adult children I'd say. " let er rip."

Sent from my iPad using Early Retirement Forum

The cure for everything is saltwater. Sweat, tears, or the sea.
Olbidness is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 08-17-2016, 09:50 PM   #22
Recycles dryer sheets
OneDay's Avatar
Join Date: Jun 2016
Location: Somewhere
Posts: 78
Originally Posted by Another Reader View Post
Before you bash these folks too much, remember this forum's very own Fuego is doing the same thing. Yes, he's making some money blogging about it now, but that's a recent addition to the income streams. Two adults, three kids on $28k a year. Trying to raise the spending to $40k without success so far. It CAN be done if you have the basics in place - a paid off house, low taxes, and decent health care.
Absolutely it can be done. My family of four lives on 50k, everything is paid for including home, cars etc. We live like Kings, lol. I'm being a little sarcastic, but many people like myself in rural America can live very well on $25-50k a year depending on family size.

OneDay is offline   Reply With Quote
Old 08-18-2016, 08:35 AM   #23
Thinks s/he gets paid by the post
Join Date: Oct 2006
Posts: 3,636
Originally Posted by Fermion View Post
$1M gives you $40,000 at a 4% SWR, which in all likelihood is good for a 25 to 30 year the very least it gets them to age 70 SS, which would drop their SWR down to 2% or so depending on what they have left in the portfolio.

$40k is what a majority of Americans have as take home pay with two kids, so I guess the whole country is in poverty.
I'm guessing that you're thinking about median "household" income. But, lots of households have only one person.

The 2013 median for married couple families with children under 18 was about $85,000. (see the ninth table here: HINC-04 - U.S Census Bureau )

I think they pay no more than $12,000 in federal FICA and FIT. Of course, they might also pay state income tax. Their after-tax income seems to be over $70,000.

(The median for all four person families is lower, I assume that number includes a single parent with three children.)

Independent is offline   Reply With Quote

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

Similar Threads
Thread Thread Starter Forum Replies Last Post
Too old to retire young, but too young to retire Schutzie Hi, I am... 4 07-25-2014 10:52 AM
2013 Federal Poverty Level Chart Buckeye Health and Early Retirement 0 10-08-2013 07:29 PM
From poverty to private plane twaddle FIRE and Money 4 08-11-2007 02:42 PM
Scott Burns: Stave off old-age poverty Nords FIRE and Money 29 05-05-2006 09:42 PM
Book report: The End of Poverty Nords Other topics 11 10-24-2005 09:20 AM


All times are GMT -6. The time now is 09:13 PM.
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2016, vBulletin Solutions, Inc.