Soooo - say's I - live on the boat since you gotta put it in a marina anyway. Answer - shocked silence.
Isn't having good (un)common sense a beach?
MJ
Soooo - say's I - live on the boat since you gotta put it in a marina anyway. Answer - shocked silence.
Tommy,
I admit it . My wife is the queen of accumulation. A pack rat but also with money. Frugality (and happiness) is not a destination but a way of travelling. After 30 years of wedded bliss we got it because she socked it away.
BUM
I believe it would be very difficult to achieve super early retirement (under 40) by saving alone. I believe you have to use some form of leverage (ie other peoples money) such as real estate or business, etc.
Robert Kiyosaki's
As you have just stated, if your plan works out it will take you approx 11-12 years to achieve it (that's assuming your plan works as you think it will, I know that mine did not). And what sacrifices are you making in your current lifestyle to do it It also depends on how much you think is enough to live your lifestyle, which is different for all of us.
As for me, I felt like I would be dead from stress by age 46. Perhaps you should consider reading Robert Kiyosaki's book "Who took my money" for a different perspective.
It seems that a few people on this board missed my point, and that is if you can find a way to leverage yourself and/or your money (real estate, your own business, writing and selling books, being a musician or athlete or speaking to audiences, whatever, there are lots of ways) you can achieve super-early retirement and with more (sometimes a whole lot more) money.
Hyperborea, I sure wish I knew how to put in quotes like you
But for the record we DID retire at 36 years, 2 months for me, 35 for my wife, using this strategy
I'm pretty sure that we can agree to disagree on this subject and that is fine. The main thing is that the author of this thread and other "young dreamers" see that there are different ways to achieve there goals and let them decide for themselves.
Hit the quote button on the upper right of the message that you are responding to and then trim the quote down.
Hyperborea,
I think it was the statement "IF YOU'VE RETIRED....." that caused me to believe that you maybe doubted my statement, mostly the IF part.
I also find interesting your new subject line, "RE: Six years to millions is speculative". I couldn't agree more with that comment! I just wonder how you came up with it .
I thought this whole board was about the fact that you DON'T have to have millions to retire early.
I'm sorry that the fact that You (if I understood your comment correctly) were unsuccessful in business has left such a sour taste in your mouth about it.
However, I personally know hundreds of people that have been successful at making a nice living working for themselves, so it can be done. I don't know where you got your 1 out of 6 number (I'm not disputing it, I have heard 2 out of 3 fail in the first 3 years)
Also, as I have said, I made my money with real estate, working for myself did have a lot of perks, but only gave me a salary maybe double what I would have made working for someone else. It did however give me an extra 300K to pad our retirement funds when I sold it. We would still have had enough, though, without the business.
I think it is ashame that you consider what I did "Lucky". There was virtually no risk of loss on the property I purchased and the rents were practically guaranteed. I was fortunate in the fact that the property appreciated at a rate higher than I anticipated. It does not take luck to be a successful real estate investor, it takes knowledge and a bit of hard work.
I must say that, IMHO, you will be the lucky one (and I hope you are) if you are successful in achieving early retirement if you are relying on only one asset class (stocks and bonds) and using only your money to do it.
Let's just HOPE that another major bear market doesn't occur right before you get ready to call it quits.
... the "luckier" we get.
If you've retired "super-early" with such a high-risk leveraging strategy then you've probably worked hard and are to be congratulated on your good fortune.