Is this guy crazy or what

[daylatedollarshort]

I guess it depends on the basement. Growing up in the Midwest many families I knew had finished basements with nice rec rooms and extra bedrooms. It was pretty common.

 

[FUEGO]

The cricket powder was an interesting note. I read an article sometime back in National Geographic that there are those that feel insects will be the next frontier for food products. I think in the US at least, it would take a long time for people to want to give it a try. :O)

They taste pretty good but gross me out a little. Next time you're in Oaxaca Mexico give them a taste. I've never had more than one or two at a time, but the locals eat handfuls of them in tacos and it's just another protein source. Not a lot different than eating shrimp (all those legs and antennae).

 

[FUEGO]

I guess it depends on the basement. Growing up in the Midwest many families I knew had finished basements with nice rec rooms and extra bedrooms. It was pretty common.

+1 My uncle in the foothills of NC has a beautifully finished basement that, due to terrain sloping downward from the front of the property, opens out onto rolling green fields with a view of the blue ridge mountains. Not quite a million dollar view, but I wouldn't mind living in that basement.

 

[Big_Hitter]

+1 My uncle in the foothills of NC has a beautifully finished basement that, due to terrain sloping downward from the front of the property, opens out onto rolling green fields with a view of the blue ridge mountains. Not quite a million dollar view, but I wouldn't mind living in that basement.

I have a 1600 sq ft finished basement with a full bath. Same deal - hillside lot - the basement actually has a downtown view.

 

[UpAnchor]

I guess it depends on the basement. Growing up in the Midwest many families I knew had finished basements with nice rec rooms and extra bedrooms. It was pretty common.

And then there were the post-war "basement houses". I remember quite a few from growing up in the Midwest. There was one just up the block from us and I remember being in there many times since a friend/classmate lived there. The parents always intended to build the remainder of the house but a couple of decades later they still hadn't gotten around to it. Guessing either they thought they couldn't afford it or they'd become comfortable down below.

I suppose if you can handle it with a family you can certainly handle it once the kids are on their own. I do recall it was a nice cool place to hang out in the summer what with the bare concrete floors at the time. Still, not quite for me these days.

 

[daylatedollarshort]

There's college kids we know in high rent places like Santa Cruz and San Luis Obispo who lived in rented out garages, so for them a basement room would be a step up.

 

[marko]

This is the most bizarre comment I've seen in a while. You just quoted him as saying he lives in a basement. It's not a car. He's not homeless. He doesn't dine at the homeless shelter.

I imagine he eats just fine on $1500-1800 per month, especially given the presumably low housing costs he enjoys living in a basement.

Gee.

Sounds like I was a bit too subtle for you, but I was never good at literary transition devices.

Let me try this: I like this forum because it lets me learn about how others got to RE.

What I do not want to spend my precious time with are 25 year olds who live in a basement with $250K in cash and then brag about it by slapping a 'retired' label on it.

As Exflyboy5 noted, this particular guy seems to be just making stuff up on the fly anyway; like this post, too many things don't add up in earlier posts.

Yes, I understand that he doesn't live in a car and the comment wasn't directed at him; but there are some people who would option to live under less than optimal circumstances rather than get a job of any kind.

If that's their idea of living and they want to label it 'early retirement' that's fine with me. I don't care. I just personally don't see it as such and I'm not overly interested in them wasting my time reading the braggadocio.

A high school classmate from a very wealthy family was cut off by his daddy and couldn't bear the thought of getting a job. 40 years later he lives in an abandoned boat and goes a few days a week without eating claiming "the shorts" while waiting for his trust fund money (which will never arrive).

Not my idea of a good time.

Making bizarre comments are not new to me; been doing it most of my life, many professional grade, so no worries!

Hope this helps.

 

[FreeBear]

I guess it depends on the basement. Growing up in the Midwest many families I knew had finished basements with nice rec rooms and extra bedrooms. It was pretty common.

Yep, some basements can be pretty nice! Some friends have a twenty-something living in their basement. It's somewhat self contained. Has fridge, microwave, flat screen TV, nice bed, and a couple of couches. It's almost half the size of my house. He has to share a bathroom upstairs, but then at least he can be confident mom will clean if things get too scary...

The kid has a car too. Most of this is paid by mom and dad...

Yes, you got me, I'm jealous

Maybe you can argue that he has Retired Early, although certainly not Financially Independent...

 

[daylatedollarshort]

Maybe you can argue that he has Retired Early, although certainly not Financially Independent...

Worst case though for him if he has a shortfall is simply to pick up some contract work. I don't see a huge downside to what he is doing if he wants to live like that. He has a lot of years of human capital left, no wife or kids to support and a high demand skill set.

 

[FUEGO]

Let me try this: I like this forum because it lets me learn about how others got to RE.

What I do not want to spend my precious time with are 25 year olds who live in a basement with $250K in cash and then brag about it by slapping a 'retired' label on it.

I find these 25-30 year olds living in a basement/van with $750k-$1 million in NW more interesting (whether you call it "retirement", "not working for a long time", or "being a wealthy bum") than those retiring at 57 with a pension, pulling 1.5% SWR from a $5 million portfolio, and wondering whether the ski chalet and 5000 sf house in the suburbs is enough or whether they should get a 3rd house for summertime vacations.

Of course it's because I'm closer to that 30 year old bum with a million bucks than the 57 year old with multimillions.

 

[Bestwifeever]

My friends' son in his midtwenties told his girlfriends he had roommates. The girlfriends ditched him when they found out his roommates were his parents. Not sure if he dangled the "retired" line at them too....

 

[swguy]

Its a nice story, I hope life works out well for him. As others have noted, it's not "retirement" he is experiencing.

Sent from my VS986 using Early Retirement Forum mobile app

 

[FUEGO]

My friends' son in his midtwenties told his girlfriends he had roommates. The girlfriends ditched him when they found out his roommates were his parents. Not sure if he dangled the "retired" line at them too....

Maybe one of the girlfriends found out about the other girlfriends. Generally a no no. Unless they were into the whole polyamory thing.

 

[Bestwifeever]

Maybe one of the girlfriends found out about the other girlfriends. Generally a no no. Unless they were into the whole polyamory thing.

It was more the basement he lived in.

 

[Mulligan]

I feel so left out.



I don't have a PhD and got my BS when I was 31 years old. That good old military duty got in the way. I did get my MBA when I was 39 though (going at night).



I wish that poster on Reddeit luck though as he is going to need it.



Congratulations on all of you who worked very hard to get your PhD. I hope it was worth it!

I only completed my Masters and I was brutal to anyone who had a doctorate in my field (education). They wouldn't acknowledge they had one around me. I had a couple who worked for me had their doctorates, and I was constantly telling them, "If you guys are so smart and I am so dumb with only a Masters, why am I your boss and making twice your pay?" (Yes we were friends).
And the "Suites" from central office above me got it too. I would always start off meeting about some pain and needing a script from one of the "Doctor's" in here. Then I would say "Oh I keep forgetting, silly me. You all aren't real doctors, you cant prescribe medicine. You just read papers that nobody has ever read, so you can write a paper no one is ever going to read."


Sent from my iPad using Tapatalk

 

[aja8888]

I only completed my Masters and I was brutal to anyone who had a doctorate in my field (education). They wouldn't acknowledge they had one around me. I had a couple who worked for me had their doctorates, and I was constantly telling them, "If you guys are so smart and I am so dumb with only a Masters, why am I your boss and making twice your pay?" (Yes we were friends).
And the "Suites" from central office above me got it too. I would always start off meeting about some pain and needing a script from one of the "Doctor's" in here. Then I would say "Oh I keep forgetting, silly me. You all aren't real doctors, you cant prescribe medicine. You just read papers that nobody has ever read, so you can write a paper no one is ever going to read."


Sent from my iPad using Tapatalk

The few doctorates that I was associated with were scientific/academic types and worked for me when I was in Big Oil. Most were OK folks, but lived in a different world than us guys and gals that made things happen in the company.

 

[old woman]

I want a kitchen I don't share with more than one other person. I knew a large extended family who lived in an apartment building. So you would have cousins and other family around and they didn't lock doors. We spent the night in the friend's bed while he slept on the couch and people who didn't know came in the bedroom in the night. I love my family and would live that way but still have my own kitchen and space.
My aunt has a farm with a son in his own place off the driveway and another son owns the old farm house but doesn't live there, daughter has the farm across the back fence and granddaughter's farm is nearby. She likes having kids and grand kids and great granddaughter near but each family has it's own home. She is 88 now but has never wanted her kids so far away she couldn't make them dinner.

 

[kcowan]

Most were OK folks, but lived in a different world than us guys and gals that made things happen in the company.

One of my Uni buddies went on to get his PhD in Charlottesville and now lives in BC. Nice guy but has a real attitude about his opinions so I ignore them.

 

[marko]

I find these 25-30 year olds living in a basement/van with $750k-$1 million in NW more interesting (whether you call it "retirement", "not working for a long time", or "being a wealthy bum") than those retiring at 57 with a pension, pulling 1.5% SWR from a $5 million portfolio, and wondering whether the ski chalet and 5000 sf house in the suburbs is enough or whether they should get a 3rd house for summertime vacations.

Agree 100%. I guess my problem is with the intellectual dishonesty.

I'm ok with people 'embellishing' a tad (and expect it online) but it's another thing when you start to believe it yourself.

I know of one 28 year old who brags to everyone within ear-shot that he's a "real estate developer" when in fact he's unemployed and spending his time remodeling his mother's kitchen; has quite the swagger though.

Likewise, this particular poster seems to have some credibility issues as well, so we're perhaps giving him more ink than is warranted.

 

[aaronc879]

It was more the basement he lived in.

Why such the stigma about living in a basement? I'm looking forward to one day getting my parents house and being able to live in the basement again. You can save on heat in the winter and save a lot on AC in the summer. The light doesn't wake you up at 5am in the summer. You can't hear the screaming kids, lawn mowers, snow blowers, [-]donor[/-]motorcycles. My parents basement is by far the best place i've ever lived. My Dad may be getting 100% VA disability soon and they may move to a veterans hospital. I would then get the house cheap. Although I don't want my Dad to be disabled, i'm looking forward to moving back to the basement and getting better sleep in a more comfortable environment. Sure beats apartment or condo living from my experience.

 

[Mulligan]

Why such the stigma about living in a basement? I'm looking forward to one day getting my parents house and being able to live in the basement again. You can save on heat in the winter and save a lot on AC in the summer. The light doesn't wake you up at 5am in the summer. You can't hear the screaming kids, lawn mowers, snow blowers, [-]donor[/-]motorcycles. My parents basement is by far the best place i've ever lived. My Dad may be getting 100% VA disability soon and they may move to a veterans hospital. I would then get the house cheap. Although I don't want my Dad to be disabled, i'm looking forward to moving back to the basement and getting better sleep in a more comfortable environment. Sure beats apartment or condo living from my experience.

Its a figure of speech. The physical location of basement living is irrelevant. The reference is directed at being a "slacker, lazy, lack of ambition, freeloading off of parents, failure to launch, etc", person.


Sent from my iPad using Tapatalk

 

[nokkieny]

I am very active on /r/FinancialIndependence 75% of the posts are complete trash. However, I took a liking to this guy, I don't think he is lying. Nor do I think his plan is that far-fetched.
He basically has somewhere to live, a nice emergency fund and "guaranteed income." Build equity and then he will be a multi-millionaire. I am too risk averse to do something like them. When I retire I want to know 100% I will never have to work again. But, we live in different times, and us 20 somethings are looking for more in life than a successful career.
From my POV, if someone is able to amass $1MM in net worth before 30, then they have the wisdom to dictate how their life will unfold going forward. They are the 1% of <30 year olds. It probably means the conventional college > high degree > move up the job ladder approach was scrapped. This takes a lot of intellect and foresight, also intense planning along the way.

 

[kcowan]

Likewise, this particular poster seems to have some credibility issues as well, so we're perhaps giving him more ink than is warranted.

Like some of those politicos!

Its a figure of speech. The physical location of basement living is irrelevant. The reference is directed at being a "slacker, lazy, lack of ambition, freeloading off of parents, failure to launch, etc", person.

My brother retired in 1982 because he was making so much money in his portfolio (while living in our parent's basement). He launched, then came back down after working for 27 years. ER.org did not exist then so he was kind of on his own.

 

[ESRwannabe]

I didn't read all the comments but I don't think the guy is crazy. I actually think some posters here with more mainstream investments have much riskier plans. Software engineers are in high demand and make a lot - for plan B he is young enough he would just have to find contract work for a few months of the year to cover his living expenses as long as he keeps living like a college student with low expenses and shared housing. Robert Shiller has said the golden age of investing may be over, and recommends his students keep living like college students.

From what I have read in interviews, Vicki Robin from The Money or Your Life book lives in communal housing and enjoys it. At least some posters here have said college was the best years of their lives. Is living like a college student really so bad? Our kids and their friends seemed pretty happy living like college students, in fact happier than many of our working friends with high stress jobs, big mortgages on houses in the suburbs, long commutes and families to support. One of our kids makes a decent income these days and is actually moving to a larger space with an additional roommate. The roommates are all good friends and enjoy living together.

I haven't increased my standard of living by much after graduating from college 20ish years ago. I don't have a roommate, although I don't think I would mind it. Rent is definitely way too expensive. I pay $940 a month which is pretty much half of my living expenses. I make $60k and spend around $28k. Taxable investment income is another $25k or so.

Once I pull the trigger and ESR/ER I think I'll spend a few years expating in foreign countries. I would not be opposed to living in really cheap hostels. Its possible I could do a lot of traveling around and only spend $12k a year or so. In the US I might do some WWOOFing.

I think I could pretty happy with just a sleeping bag on a floor, if I were traveling and doing interesting things.

 

[ESRwannabe]

Here is a 5 minute youtube video I find very inspirational and relevant to this thread: