Retired at 26...

S

soulsearching

Dryer sheet wannabe
Joined
Sep 16, 2022
Messages
13
Hello everyone. I realize this is probably unconventional for this page, but I am a recent retiree as of 2 months ago. I am 26 years old. No this is not a joke. No I am not scamming. I have multiple sources of passive income and I do not require much by way of monthly expenses. I am looking for meaning as most are after retirement. But, I am in a unique position of having a vast majority of my life still in front of me. Anyone else out there struggling with this?
 
Double your age but the question is the same. What to do now?

How confident are you that your money can last 70 years? Recession proof income?
 
Fairly. Multiple income streams. significant sum put away in long term investment accounts in fairly secure portfolios (40/60 exposures) plus several biz income streams generating additional profits now with no debt.

Nothing is ever 100%, but I feel good for now.

How do you find a passion beyond work? what is your story? sell a biz? hearing other's stories are always interesting..

thanks for the reply!
 
soulsearching said:
Fairly. Multiple income streams. significant sum put away in long term investment accounts in fairly secure portfolios (40/60 exposures) plus several biz income streams generating additional profits now with no debt.

Nothing is ever 100%, but I feel good for now.

How do you find a passion beyond work? what is your story? sell a biz? hearing other's stories are always interesting..

thanks for the reply!
Click to expand...


If you have built these businesses, you have specific knowledge, you could help others that are struggling with their businesses. It would be very rewarding to help people get back on their feet.
 
Much of my time is filled with travel and photography, but you have to find what interests you. A place to start is Meetup.com.
 
I'm sure there are those who would say that I've been hoodwinked by the system that I grew up in, but I found much of my meaning from work, up until the age of 45 when I stopped working. I was very motivated to prove, and make a name for myself and, to a certain extent, I did. It's hard for me to imagine what I would have done had I been financially independent at the age of 26. However, even if I'd had the money to support myself, I still had a burning desire at that age to succeed in something.

My question to you is - what are your interests? What do you have a strong desire to do? No need to answer here if you don't want to, but I'm assuming that there must be things you badly want to do, and do really well at.
 
Start a YouTube channel on how you did it.
 
Wow, you are quite young to have earned/saved enough for a 70-80+ life span, so Congratulations!
A good read if you are struggling with what to do is Ernie Zelinski "How to Retire Happy, Wild, and Free". In it, he has a Get a Life tree exercise. It may or may not be helpful, but certainly couldn't hurt to read and review!

There are many places to volunteer if that is something you are interested in. Big Brother/Big Sister, local youth groups, Small business mentorships, local animal shelters, local food pantry, etc.

What are your interests? Traveling, helping others, learning/online or in person classes?

You have your whole life in front of you, and obviously, are a go getter to have amassed such wealth/income business at such a young age.
Best wishes to you.
 
soulsearching, you are certainly welcome here and I personally would love to know the details of your retirement but at age 26 you will probably find more kindred souls and advice on the Mr Money Mustache Forum.
 
Welcome! Many folks think they can retire early, but don't have enough saved up. Passive income streams can dry up, or can have ups and downs. Are you diversified in your investments? Have you planned to pay for health care outside of the ACA (if it ends). Do you have an emergency fund?

Besides all those, you mentioned that you " do not require much by way of monthly expenses". If I had ER'd at 26, I'd require a heck of a lot more than 'not much' to fund a lifestyle that would keep me occupied, busy, and happy (to include $ for lots of travel, nice house, fun toys, etc.). Without deciding what you want to do in your 50+ year-long retirement, there's no way that you can know what type of budget you'll need. For a 50+ year long period, 40/60 is way too conservative, and unlikely to maintain its value due to SORR and inflation. Have you run FIRECALC or answered the questions on the Early Retirement FAQs page?
 
If you like the music, take up improvisational jazz on your preferred instrument. It can be a very rewarding lifelong pursuit.
 
Pursue your hobbies. Pursue whatever interests you. Pursue the meaning of life.
 
Give back. Teach others how to do what you did.
Volunteer helping people who can never return the favor. Pursue spirituality. Invent a big goal for yourself that you could never accomplish while you were working. Teach yourself new hobbies. Enjoy every minute you have left on this earth. Good luck!
 
I grow vegetables, and I am becoming fairly proficient at it. I look at it as challenge, much like I did while working. I observe, collect and analyze data to determine the best way and best time to plant and harvest, the best way to grow crops together and in sequence, the best way to fertilize, the best way to control the bugs and weeds, etc. etc. I keep detailed records so that I can constantly improve, and every year, my garden produces more and better vegetables as I perfect my methodology. I am also very interested in the various methods of preserving the portion of my harvest that I cannot eat fresh. I find it satisfying to master these new disciplines.
 
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Very interesting and would love to hear about your success. I know many that have became millionaires overnight per se. Oil and gas made their life change financially in a huge way. Most stayed doing what they did for a living and never stopped their job or business.

You have gotten some good paths to go down to fill your days. I never thought I could stay busy in ER, but I do and most day I run out of day light or time. Make it fun find something you love to do and take it to a new high.
 
soulsearching said:
Hello everyone. I realize this is probably unconventional for this page, but I am a recent retiree as of 2 months ago. I am 26 years old. No this is not a joke. No I am not scamming. I have multiple sources of passive income and I do not require much by way of monthly expenses. I am looking for meaning as most are after retirement. But, I am in a unique position of having a vast majority of my life still in front of me. Anyone else out there struggling with this?
Click to expand...

So what was your plan? During your time accruing this RE and significant sum of $ over a handful of years, you must have been very aggressive and planned every step - it didn't happen by accident (unless Lottery, sudden inheritance, which you don't mention.

When a 23 year old is building massive wealth so they can retire super early, what are they (were you) thinking you'd do?

26 year old me was a very different person than the 47 year old when I retired, so even though I was on the early side, my experience wouldn't help you much.
 
Have you checked the minimum work requirements to get Medicare when you turn 65? Healthcare can bankrupt even well off people who don’t have good coverage. You have to be eligible for social security to receive Medicare benefits which is 40 quarters of employment paying into social security, or being a spouse of an eligible person. Have you met those requirements?
 
Dash man said:
Have you checked the minimum work requirements to get Medicare when you turn 65? Healthcare can bankrupt even well off people who don’t have good coverage. You have to be eligible for social security to receive Medicare benefits which is 40 quarters of employment paying into social security, or being a spouse of an eligible person. Have you met those requirements?
Click to expand...

Excellent advice! I forget about those qualifying requirements, and they are very important for very ER people to keep in mind.
 
You surely have a passion for some things. What activities make you happy? If you can't think of any, then it's time to explore. Although I have a passion for helping people through rough times anonymously, that doesn't mean it would move you at all.

Try different things. You'll find something that inspires you. Take classes to learn more about different things - these can be non-credit classes hosted at community colleges so there's no academic pressure, no tests. Or offer to teach a class. I think the important thing is to be doing something. And if your "something" helps someone or does something to improve your community, or the world - so much the better. You have the means and the time to try just about anything, take advantage of it.
 
I don't get it, at 26 I was wanting to do MORE, I could never retire then as I was too motivated to WIN.

Someday, we will hear about the person that moves out of their parents house at 18 and retires.....
 
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