Retired at 30 and Bored!

[plex]

Hmm? He has a job, he is landlording, probably doesn't take a huge amount of time, but it is part time work. Post does seem a bit odd, paying off 3 properties in about 6-7 years is pretty unusual, I'd estimate that is $500k-700k+, usually just land-lording and investing (even in emerging markets), wouldn't pay nearly that much. Also, saying the properties are paid off AND all money goes into emerging markets is odd, that would leave me to believe there is even more than 700K, not even professional/successful small businesses pull in money that fast.

That aside, retirement without hobbies is like cherry pie without cherries, go buy some cherries. Otherwise it is going to taste bad.

 

[Marie]

I'm going to assume your question is for real. A thought: go back and work part time. Try different types of jobs, or start your own business: if you are able to retire you are also able to withstand the prospect of not succeeding in making enough money to live on, since you already have that.

Try something different for an utter lark. If you make money at it, fine, if you don't but you find you enjoy it, that's going to be valuable enough. And if you don't enjoy it, try something else. The world can be a fascinating place, and the only time I'm truly bored is when I'm sitting in long long long meetings listening to monotoned speakers who can't seem to get to a point.

 

[aaronc879]

This is an obvious joke.

Health insurance.
Property tax on home
Insurance on home
Maintenance on home
Automobile insurance
Gasoline
Internet connection (obviously)
Telephone
Electric/Gas/Water/Sewer

There is no way you can squeeze all of that in for $500 / month.

I doubt he has health insurnace. The other expenses above equal just under $400/mo for me. My total expenses(now that I paid off my mortgage at age 30) are just $800/mo. I could drop my cable w/HD DVR, reduce my food spending to $100/mo, and turn the thermostat down in the winter and i'd be down to $600/mo. Get rid of my car(there's a bus stop across the street) and i'm down to $500/mo. or less. It is doable assuming he doesn't have health insurance.

The thing I question is how did he get 3 paid off homes by the age of 30. Homes that are large enough to be able to profit $1000/mo in rent from each one.

 

[FIREd]

Jacob from Early Retirement Extreme: — written by Jacob Lund Fisker, Freelancer lives on $7,000 a year (with health insurance). So it is possible.

 

[Tigger]

Having lots to do - I meant more on the lines of having lots that you "could" do - I didn't me lots that you "had to do" - I was not speaking obligations.
I have lots to do, but usually only get around to 10% of it. But if I wanted to be busier, I easily could.

Ah. That indeed sounds like a nice way of living.

 

[kyounge1956]

I'm going to assume your question is for real. A thought: go back and work part time. Try different types of jobs, or start your own business: if you are able to retire you are also able to withstand the prospect of not succeeding in making enough money to live on, since you already have that.

Try something different for an utter lark. If you make money at it, fine, if you don't but you find you enjoy it, that's going to be valuable enough. And if you don't enjoy it, try something else. The world can be a fascinating place, and the only time I'm truly bored is when I'm sitting in long long long meetings listening to monotoned speakers who can't seem to get to a point.

Along these same lines, think about registering with a temporary employment agency. That will get you out of the house. You will meet people and work in different types of businesses. It won't matter how much or how little the jobs pay, because you've already got much more income than you need to live on. Who knows, maybe you will find a calling in life—or maybe after going back to work a couple of times you'll remember why you were so eager to retire! You can take the assignments that sound interesting to you, and turn down the others.

And one other thought—consider registering, for at least a short time, with Labor Ready or some other company that will send you out on assignments you come home from filthy dirty and dog-tired. I suggest this on the principle of "I complained because I had no shoes, until I met a man who had no feet." Being able to retire at your young age is such a huge blessing! Maybe working on a couple of really disagreeable jobs may drive that point home. As a possible side benefit, if you're depressed as dex suggests—and I think he may very well be right—a few good nights' sleep (from being completely tuckered out) might do wonders for your outlook on life.

 

[Rustic23]

Yes, but is Jacob grousing about being bored?

JustMe, having 7 figures by 40 through work and inheritance, is a big difference than 30 and purchasing it all yourself. As I said, for me, it just does not add up.

But he has brought 80 comments on an otherwise dull Saturday.

 

[FIREd]

Yes, but is Jacob grousing about being bored?

Did I say he was?

 

[CuppaJoe]

....

But he has brought 80 comments on an otherwise dull Saturday.

A troll's goal!

 

[Rustic23]

Should have been a after my comment. No you did not. Happy?

 

[JustMeUC]

JustMe, having 7 figures by 40 through work and inheritance, is a big difference than 30 and purchasing it all yourself. As I said, for me, it just does not add up.

But he never said he purchased the homes. I guess I was assuming he got them thru an inheritance. I think what he said was simply that they were paid off. I also received a couple homes thru the same grandfather as my cousin and would have just said they were "paid off" without going into too much explanation unless asked. I would assume that many/most people that have more than 1 paid off home by the age of 30 probably inherited them.

He did say that he took out loans for school and invested in Mutual funds I think so I am assuming that his parents paid for school also. He may not have a lot of real cash laying around but if he has several paid off homes that are generating income I think that this is entirely feasible to retire at 30 if you are cheap enough.

Now.... whether he is for real or not is another story entirely.

**********

ok, I won't feed the thread (or troll if it is one) anymore, looks like he left the building anyway.

 

[CuppaJoe]

OP logged off at 12:41 a.m. this morning PDT. If he's a troll, perhaps he won't need to return until we stop posting here. Would be great to see many of these topics on another thread.

 

[Rustic23]

When someone post we each have the right to believe or not believe what they say. There is no proving it.

In this case, for me, there are too many holes in his story. While possible, I don't believe you acquire three paid off investment properties, netting $36,000 a year, and a home, car and other stuff, by the age of 30! Not in the investment climate of the past 10 years. He has, IMHO, given the impression he made all this himself, yet, now that he has been challenged, I am sure we will find he inherited the properties. So, those that wish to continue to give advice, to this 30 year old, gay, investment wizard, that has nothing better to do a one o'clock on a Saturday morning but post how bored he is, be my guest.

 

[kyounge1956]

I doubt he has health insurnace. The other expenses above equal just under $400/mo for me. My total expenses(now that I paid off my mortgage at age 30) are just $800/mo. I could drop my cable w/HD DVR, reduce my food spending to $100/mo, and turn the thermostat down in the winter and i'd be down to $600/mo. Get rid of my car(there's a bus stop across the street) and i'm down to $500/mo. or less. It is doable assuming he doesn't have health insurance.

The thing I question is how did he get 3 paid off homes by the age of 30. Homes that are large enough to be able to profit $1000/mo in rent from each one.

tax foreclosure auction, or IRS/DEA seized property auction?

 

[Marie]

I vote Troll.

A. Expenses don't add up
B. Investments don't add up -
C. This was done on salary - does not add up
D. This was done through two bubbles, one real estate which he claims is his source of income.
E. To get $36,000 a year in income you have to have almost $1,000,000 in assets (4% SWR), but he is 'not wealthy'
F. Three paid off investment properties, and a house from a 15 year old's salary and part time college job.
G. Student loans paid off
H. While I have heard many reasons not to have kids, "they are a burden' is seldom used. But, hay, I am not a '30 year old gay guy'
I. Several glaring grammatical errors that don't look like typos, and are wrong case and tense for use by a 'College Graduate' (this one is a little more plausible for me, as I too don't proof read all my post)
J. It just sounds like a kid calling and saying "Do you have Prince Albert in a Can"

Interesting Gvilager, who is in the same boat, also has less than 10 post. Might check those IP addresses.

RE Point H: I have heard exactly this same point, kids are a burden (financially or emotionally or both, I'm not sure) raised by at least two straight males of my acquaintance.

RE Point I: I was once a graduate teaching assistant at a university. I'm NOT surprised by anything college students write. Or, can't write. (AND, this was before the Internet caught on. So don't blame Al Gore... Ducking...)

 

[brewer12345]

tax foreclosure auction, or IRS/DEA seized property auction?

Dealing dope?
Turning tricks/rentboy?

 

[kyounge1956]

Dealing dope?
Turning tricks/rentboy?

Did you get out the wrong side of the bed or something? Your comments on this thread sound like you're trying to pick a fight with the OP. What's up with that, even if we are being OAP'ed?

 

[Marie]

This may well be on the level. I am brand new to this site but I've been hanging around online since the late '80s, and I have seen my share of trolls. I assisted on a CompuServe forum as moderator back then in a rather controversial section there. I still don't recognize all trolls immediately, but this guy may well be on the up and up. I don't sense true red flags here.


Boredom thresholds have changed. It is sad, but true. I've been a solitary person myself on some levels, but I can nearly always find something to do. I know not all people are like me in this regard.

 

[brewer12345]

Did you get out the wrong side of the bed or something? Your comments on this thread sound like you're trying to pick a fight with the OP. What's up with that, even if we are being OAP'ed?

Nah, troll radar flashing so brightly it is blinding.

 

[haha]

If I went by my feelings I would diagnose a lot of posts as trolling. I'll think, does he really think that it is possible to answer that question, especially with the constraints and assumptions embedded in it? Then the thread will get 85 posts and I'll think well, that suggests that others at least think that the question is reasonable and answerable. Any, much of this early retirement stuff is like making a huge bet on a football game that will be played at some inderterminate time over the next 40 years. Of course this is largely true of life itself, no I guess no biggy.

Let's roll 'em boys!

Ha

 

[Letj]

For someone who is bored and spends his time on the internet and the grocery store, he sure is taking his sweet time responding to these posts.

 

[CuppaJoe]

Hope he has lots of popcorn; a couple more posts and he'll break 100. Wonder if that supermarket has any good deals on spam and bacon.

 

[growing_older]

This may well be on the level.

I don't see how that's possible. OP says he has put together a portfolio of real estate and mutual funds over a $1 million in under 10 years, but has no interests except coupons and shocking his dates with frugality. Further he's unable to think of anything he wants to do, mocks retirement, but asks us how he should spend his time. What happened to all the get-up-and-go that enabled him to build that portfolio in the first place.

 

[kyounge1956]

I don't see how that's possible. OP says he has put together a portfolio of real estate and mutual funds over a $1 million in under 10 years, but has no interests except coupons and shocking his dates with frugality. Further he's unable to think of anything he wants to do, mocks retirement, but asks us how he should spend his time. What happened to all the get-up-and-go that enabled him to build that portfolio in the first place.

No, it was Rustic23 who said $1 million.

(snip)
E. To get $36,000 a year in income you have to have almost $1,000,000 in assets (4% SWR), (snip)

retiredtooearly said he had $3000 net income from rental houses.

(snip) I have three other investments homes which are paid off too. That's where I am getting monthly income from. Net after those expenses(property tax, insurance, and etc) is around $3000. (snip)

The impression I got was that he made lots of money investing, and used it to buy the houses. Maybe he was one of those internet whiz-kids that made a fortune before he was old enough to vote. He did say he'd been working since he was 15, which doesn't necessarily mean he was slinging burgers in a fast-food restaurant. That would certainly be unusual, but not completely unheard of.

Besides, so what if he is pulling our collective leg? If so, he's probably gotten some fun out of the thread and we've taken no harm from it. Besides, as Cuppa Joe said, there are some interesting topics here. If he is on the up & up, there are lots of ideas in here, and that should be some help.

 

[retiredtooearly]

Thank you all for being so supportive and for all your great ideas how I can deal with my retirement. I think a lot of people here are making assumptions about my financials. For those people who don't think they can live off $500 a month it's because you overspend. Did I inherited my houses? No, I bought them all with my hard earned money. There was one person who said I was like their cousin. When I read that post, I was shock that the cousin's behaviors are so similiar to mines. Health insurance? Of course I have it, but with a high deductible. I don't want to get a huge medical bill and lose everything. I rarely go see a doctor anyway. Thank god for Obama's universal health care, it will save me tons when I am older.

I am just wondering how many other retired folks here felt depress when they stopped working. How long does it take for my mind to adjust to the retirement life. Tomorrow (Sunday) is my favorite day of the week, I will do my coupon clippings. It always keeps me busy when I plan what to buy at the supermarket. That's the only thing I look forward to the whole week.