So, the real problem is that they are traveling the world and having fun and making 50 grand a year writing about it and you're not?
I have been to many parts of the world.
There is no problem. They should have fun.
So, the real problem is that they are traveling the world and having fun and making 50 grand a year writing about it and you're not?
I have been to many parts of the world.
There is no problem. They should have fun.
The lie is they are not retired. MSN money claims they are.
In the real world $1 million only produces a low middle-class wage. Not to mention inflation.
Its a trendy millennial gold rush fantasy that you can now just work 10 years and just ride off into the sunset and not work.
I think its actually funny people are buying this. Theres gold in them hills.
And travel gets expensive eventually.
They can do what they want. No worries.
I'm going to make it my goal this year to earn $50k writing about travel and retirement. Except that sounds way too much like work. And might interfere with, you know, actual travel and retirement pursuits. I bet Travis and Amanda at FreedomwithBruno would agree with me.
You should write about it. $50k easy money, no problem, no skills required. Show those millennials what a little effort, hard work and dedication can do.
Yeah, but they were hippies and didn't have anything but the bus and a lid of grass and some sleeping bags.
Yeah, but they were hippies and didn't have anything but the bus and a lid of grass and some sleeping bags.
I was pretty shocked myself when my sibling told me my nephew who is 25yo, struggled through school but did make it through post secondary yet has a great personality and is fearless pulled in $90k last year in a sales and marketing postion. He's apparently living it up instead of saving. YOLO?
According to the logic displayed in this thread by some, there is no substantial difference between a hippie with no assets other than a beat up VW van and a half cashed bong and the same hippie with a million dollars in income producing assets (plus the van and bong).
I think you're misrepresenting the opinion expressed by the naysayers.
You mean the ones that equate homelessness and sleeping in one's car with camping in an upfitted 4x4 on a multi-month overland trip while you have a million bucks in the bank?
Or were there other naysayers with more reasonable objections?
If Bill Gates decided to sleep on the beach on Richard Branson's private island because the weather was perfect (and because he could!), I imagine some here would say "not the lifestyle for me / no way would I retire to a life of deprivation like that! / shoulda saved more, Bill!".
I am a naysayer- because the math just doesn't work. I'm doubtful any couple can keep their spending consistently below a draw down of 4% on their $670k spendable portfolio for 40 to 50 years. Especially when market is projected to not return 7%!look at the historic market return since 2000... And Trinity was only for a 25 year time frame. They are not currently adding to assets.
I am a naysayer- because the math just doesn't work. I'm doubtful any couple can keep their spending consistently below a draw down of 4% on their $670k spendable portfolio for 40 to 50 years. Especially when market is projected to not return 7%!look at the historic market return since 2000... And Trinity was only for a 25 year time frame. They are not currently adding to assets.
These kids will grow up and figure it out. Either find a way to augment portfolio ( which is called work) or get really lucky. My bet is they go back to some form of work.
One of my favorite photo blogs: Van Life
Great ideas in there for building custom kitchens and other setups to make travel/camping easier.
$25000 / $16000 = 1.56 = "$25000 is 56% higher than the poverty level"
Plus they have a paid off home that's a duplex in practice.
hopefully they can rent that out for a few grand a month
Fun times with FIREcalc:
$25,000 annual withdrawals from a $670,000 portfolio for 35 years gives 96% success rate.
In 35 years they will probably get SS equal to $25,000 (possibly needing a few quarters here and there to qualify depending on whether their Canada earnings credits transfer).
$25k represents an amount 56% higher than the poverty line (ignoring the fact that they have a paid off house that will likely generate significant rental income). Our family of five lived quite well last year here in NC on $25k and a paid off home. Surely the FwB folks are as smart as me and can do more with just 2 of them.
96% chance of enjoying life significantly above the poverty line in perpetuity? First world problem.