USA Today Article: retire before 40? some people say you can

[Running_Man]

Almost everyone interviewed is a blogger. I am starting to think these "early retirement articles" are really just a way of getting ad revenue from blogging, in the hopes of gaining followers, actual "retirement" seems quite a bit lower and cross polination of the same groups.

When Mr Money Mustache is running a " you can meet me in an Ecuador resort", these posts of you can retire early all seems more like a gimmick to make money by myself 'cause I can't really stand other people rather than a true early retirement plan. Not much different to me than the you too can make millions in real estate just take my course, and I'll be in your city soon and see how I have retired to the good life.

Nords left posting here to sell USAA and VISA products on his blog in the hopes his blogging will earn a minimum $125 an hour. Rather than being true advice it is a marketing campaign in the hopes of fame and fortune, a nice American goal, but not retirement and lots of clicks on the VISA credit card website.

Quote:

“So Nords, why are you still blogging?”

The make a valid comment on other blogs in order to promote your website is a nice way to make bologna out of SPAM.

[comicbookgujy]

Quote:

Originally Posted by pb4uski NFW, more grown ups here. Are you sure momma will take you back? Better check on that before you finalize your plan.

YES. Momma just asked me last night when I was going to move back.

Everytime I go back home, my parents ask me when I will move back home. In my culture, I am expected to move back home to take care of my elderly parents. I feel guilty that I'm not home taking care of my elderly parents.

[ziggy29]

Quote:

Originally Posted by HawkeyeNFO A lot of haters in the comments from the article.

The comments always bring out all the haters, extremists and lunatics.

[pb4uski]

Quote:

Originally Posted by ziggy29 The comments always bring out all the haters, extremists and lunatics.

Huh, I thought that was just on Yahoo.

[hsv_climber]

That type of articles can be published only during bull markets....

Quote:

$180,000 in savings invested in stocks, by withdrawing no more than 3% a year

All the guys in the article are either 100% in stocks or 85% (stocks) /15% (fixed income).

[obgyn65]

Exactly. What can this guy do on 15k a year ? Watch TV all day and walk to the free library? Sorry, but I need my retirement to be more exciting. I hope this post does not sound too presumptuous for those ER folk who live on a small budget.

Quote:

Originally Posted by pb4uski Spends $15k a year. Living large. Not for me.

[UserRequested]

Quote:

Originally Posted by comicbookgujy My retirement plan: 1.) Move back home and live with momma 2.) Try to get 5% return on my investment, that would net me $25k a year Anyone else retirement plan includes moving back in with momma?

Wish my momma was still alive. I'd move back in or she'd be staying with me.

[Ronnieboy]

I have to admit that I wouldn't and or couldn't live on $15k a year and live the lifestyle I/we would want, but the principle is the same.

Invest in dividend growth companies until the dividends through off enough income to pay for the yearly expenses, similar to YMOYL but with stocks instead of bonds, like ejman wrote.

Now I just have to be debt free and have a portfolio throwing off more like $80k/year

[arebelspy]

Quote:

Originally Posted by Running_Man Almost everyone interviewed is a blogger. I am starting to think these "early retirement articles" are really just a way of getting ad revenue from blogging, in the hopes of gaining followers, actual "retirement" seems quite a bit lower and cross polination of the same groups. When Mr Money Mustache is running a " you can meet me in an Ecuador resort", these posts of you can retire early all seems more like a gimmick to make money by myself 'cause I can't really stand other people rather than a true early retirement plan. Not much different to me than the you too can make millions in real estate just take my course, and I'll be in your city soon and see how I have retired to the good life. Nords left posting here to sell USAA and VISA products on his blog in the hopes his blogging will earn a minimum $125 an hour. Rather than being true advice it is a marketing campaign in the hopes of fame and fortune, a nice American goal, but not retirement and lots of clicks on the VISA credit card website. The make a valid comment on other blogs in order to promote your website is a nice way to make bologna out of SPAM.

It seems disingenuous to me to claim that those bloggers do it for the money when the two examples given are donating all profits to charity (Nords with military charities and all profits from MMM's meetup going to an Ecuador charity as well as him refusing to take even a basic speaking fee so even more can go to that charity).

Your cynical outlook must give you a very depressing life. I'm sorry.

I find an article like this in the mainstream news as nothing but positive. Even if every person in there was paid for their interview, I wouldn't care. If it puts the idea of ER in a few reader's heads and encourages them to look at their spending and become LBYM, it's a success in my mind.

YMMV. Obviously.

[brewer12345]

Quote:

Originally Posted by arebelspy It seems disingenuous to me to claim that those bloggers do it for the money when the two examples given are donating all profits to charity (Nords with military charities and all profits from MMM's meetup going to an Ecuador charity as well as him refusing to take even a basic speaking fee so even more can go to that charity). Your cynical outlook must give you a very depressing life. I'm sorry. I find an article like this in the mainstream news as nothing but positive. Even if every person in there was paid for their interview, I wouldn't care. If it puts the idea of ER in a few reader's heads and encourages them to look at their spending and become LBYM, it's a success in my mind. YMMV. Obviously.

I want to retire early so I don't end up bitter like running man.

[FUEGO]

This makes my plan to retire at 35 with 1.4 million seem like overkill...

Now I just need to start a blog.

[daylatedollarshort]

Quote:

Originally Posted by FUEGO This makes my plan to retire at 35 with 1.4 million seem like overkill... Now I just need to start a blog.

The problem with making a reality based blog is that the numbers of what it really takes are tough to achieve for most households. Any reality based ER blog would sound depressing compared to many of the popular ones out there now with their overly optimistic market return, safe withdrawal rates and potential medical cost projections.

But if you made a blog I'd read it.

[FUEGO]

Quote:

Originally Posted by daylatedollarshort The problem with making a reality based blog is that the numbers of what it really takes are tough to achieve for most households. Any reality based ER blog would sound depressing compared to many of the popular ones out there now with their overly optimistic market return, safe withdrawal rates and potential medical cost projections. But if you made a blog I'd read it.

I have thought about starting a blog, since I like to write, have an overinflated sense of my own importance, and an uncanny ability to poke fun at myself.

Then there is the fact that maintaining a blog would be a little too much like work.

[eridanus]

I think you'll find that it's more about FI than about ER, which the article states. In other words, if you know that you can live on $15k/yr and get that from investments, it provides opportunities that you wouldn't normally have or even see.

Edit: The "compounding" argument is bunk for an ERE. Having 15 years to compound is the same regardless of whether it's 20 to 35 or 50 to 65. It's the savings rate that matters (and the subsequent spending rate that results from a high savings rate).

[timo2]

Quote:

Originally Posted by brewer12345 I want to retire early so I don't end up bitter like running man.

Me too. My DW already says work is making me crabby(er), and that I should ER sooner.

[timo2]

This article seemed to be the opposite of the USA Today one

Maybe We Should Retire The Word 'Retire' : NPR

[Alex in Virginia]

Quote:

Originally Posted by Running_Man When Mr Money Mustache is running a " you can meet me in an Ecuador resort", these posts of you can retire early all seems more like a gimmick to make money by myself 'cause I can't really stand other people rather than a true early retirement plan. Not much different to me than the you too can make millions in real estate just take my course, and I'll be in your city soon and see how I have retired to the good life.

Running Man,

There's no polite way of saying this, but I'll at least keep it clean. [Mod edit] Period. (And you are WAY off base on the Ecuador thing.)

I've gone through the entire MrMoneyMustache blog, from the first post through to the present. And what's there to learn from and apply to one's own life is, to put it mildly, priceless.

As for anyone else reading this post, don't rely on Running Man's dizzing... or my endorsement either. Spend some time in the MrMoneyMustache blog and then see what you think. And I mean spend some time and pay attention to what you are reading.

And that's all I'm going to say about this.

Alex in Virginia

[haha]

Running Man has been on this site for many years, and he knows a lot about a lot of things. His posts are information rich, and come from his experience in markets, which not everyone has. You are way off base.

Trust the other members to make up their own minds about these more commercial blogs.

For the record, it is my opinion that they are mostly on about the same level as travel flak writing, and many wil disappear with the first lasting bear that comes along. It is wonderful however, that you seem to get so much from MMM.



Ha

[photoguy]

Quote:

Originally Posted by obgyn65 Exactly. What can this guy do on 15k a year ? Watch TV all day and walk to the free library?

I don't think it will necessarily be that bad/spartan. Most of my fun activities require some initial outlay but are free / near free otherwise. Just think about all the things that have minimal ongoing costs like camping, hiking, reading, surfing, fishing, programming, writing, volunteering, photography, gardening, cooking, origami, running, bird watching, posting on ER.org, etc.

Besides dining out, most of the expensive entertainment options that I would consider are passive activities like going to shows, sports events, museums, cable tv, etc (that are not high on my list).

I do agree though that even budget travel would be hard to do on 15k a year but I guess it's possible if you have a lot of friends / stay at campsites / like to couch surf.

[rbmrtn]

I don't spend much more than 15K so it certainly doable. But I don't have a travel bug like many seem to have.