Andy said:My guess is that everyone could retire early if they LBTM and saved 10% a year from their very first job. That wouldn't be much, but I bet it would do it.
The only thing that might make that hard now is health insurance.
Most people just buy way to much junk.
I agree that there are plenty of people who should save more. And there are lots of people who have made bad choices. But there are lots of people and family's making and living on $7-8 a hour. Pretty tough to save 10% of that. And most of these low paying jobs that don't have health insurance, and now with the new bankruptcy laws if they get sick they're screwed for life.
I know one person who works on a golf course 5-6 months a year, and odd jobs when he can. He has managed to accumulate 30 acres of land, a good used truck, a used motorcycle, and a house he built himself. He lived in a basement house for about 7-8 years till he had enough to built the upstairs. He raises chickens and sells eggs, grows his own veggies, hunts his own protein. He is happy and works hard to survive. He does not live with his elderly mom but does take care of her. His sister can't be found till holidays. I'm sure she will show up when mom dies though. One illness though could destroy everything he has worked for. It's hard for me to see the bright side of that, or fault him if he got sick for not getting a better job or moving..........shredder