Stories of TRULY YOUNG ERs Under 40s

[Canadian Girl]

If you want to exit by 40 with a "comfortable" life, I don't think the traditional advice of saving and LBYM will do the trick.    You'll probably either need hypergrowth, lots of leverage, or a big inheritance.

I think you're right.  Given that hypergrowth and inheritance are basically out of one's control, my strategy has been lots of leverage.  And from the recent boost of the real estate market, it's helped alot.  The question is managing this in the near future.

 

[Canadian Girl]

Canadian Girl,  Lots of people probably think the way you do and most end up not being able to retire early.  I think many people on this board have assessed their lives and have figured out that 5 star accomodations that they leave every day to go to work do not make them as happy as 3 star accomodations that they see all day long.

As far as travelling on the high end, I've done it both ways and have found that you do not see as much of the true nature of the place you are visiting when you insulate yourself in a posh hotel.

I quit work in my mid 30s - luck, skill and not going along with what this materialistic society expects of me enabled it.  DH will quit early next year (at 39)

Shiny- I understand what you're saying and you're right about the travel and the materialistic pursuits. But I guess it really comes down to having the CHOICE to stay at whatever star hotel you want. It sure is nice to know that you CAN but you choose not to. Quite different than if you can't because you don't have the means or you wouldn't want to but have the financial means to. I think I'd like to ER and have the CHOICE to do whatever I want however I want to....AND be happy about it.

 

[wabmester]

I remember when I first asked myself "what's my number?" I came up with $10M. I figured that would allow me to buy a mansion and live a no-compromise lifestyle.

I have since readjusted my expectations.

 

[shiny]

I remember when I first asked myself "what's my number?" I came up with $10M. I figured that would allow me to buy a mansion and live a no-compromise lifestyle.

I have since readjusted my expectations.

Ours was $10M plus an Aston Martin. Times have changed!

 

[Canadian Girl]

I remember when I first asked myself "what's my number?"    I came up with $10M.   I figured that would allow me to buy a mansion and live a no-compromise lifestyle.

I have since readjusted my expectations. 

So what is the number now?

 

[shiny]

Yeah, and as far as choices are concerned, I understand. No one is aiming for a life of poverty (except for Unclemick who does that sort of thing for fun )

 

[Martha]

Shiny- I understand what you're saying and you're right about the travel and the materialistic pursuits.  But I guess it really comes down to having the CHOICE to stay at whatever star hotel you want.  It sure is nice to know that you CAN but you choose not to. Quite different than if you can't because you don't have the means or you wouldn't want to but have the financial means to.  I think I'd like to ER and have the CHOICE to do whatever I want however I want to....AND be happy about it.

And we all live in a world called Perfect.

I would like never to get a chronic disease.
I would like to live to 110.
I would like to win every case I bring for my clients.
I would like to give millions to charity

I don't much care if I stay in a 5 star hotel.

 

[Canadian Girl]

And we all live in a world called Perfect.

I would like never to get a chronic disease.
I would like to live to 110.
I would like to win every case I bring for my clients.
I would like to give millions to charity

I don't much care if I stay in a 5 star hotel.

So for you - you'd have the CHOICE to give millions to charity. No problem here. It's all about CHOICES and freedom to do whatever you wish. If it sounds unattainable, let me know.

 

[Canadian Girl]

I remember when I first asked myself "what's my number?"    I came up with $10M.   I figured that would allow me to buy a mansion and live a no-compromise lifestyle.

I have since readjusted my expectations. 

Wab - so what is your new number now?

 

[wabmester]

So what is the number now?

I won't tell you, but I'll tell you this.    I have more than I need, but I now find "stuff" to be oppressive.   I sold the sports car and now drive a very useful (and ugly) truck.   I sold the mansion and now live in a little beach cottage.   I had a kid, whom I love more than anything (and she provides a constant source of amusement).   And I don't travel much, because I no longer need to escape work and take vacations.   Life is good.

 

[Martha]

So for you - you'd have the CHOICE to give millions to charity.  No problem here.  It's all about CHOICES and freedom to do whatever you wish.  If it sounds unattainable, let me know.

Unobtainable?  Duh.  

Even though I have some big bucks, I do not win all my cases, odds are I won't live close to 110, and I already have a chronic disease. And odds are millions are not going to go to charilty from me.

But my happiness is not tied to having enough money to make the choice between a 5 star lifestyle and a 3 star lifestyle. Abd you never have freedom to do whatever you wish.  

 

[haha]

Isn't the goal to ER AND live really comfortably?  What's the fun ERing but needing to 'scrimp' and watch your pennies.  I have always believed that when one ERs that you are doing the same or better in your lifestyle than when you were working.  True, your lifestyle is great because you're not working, but I am referring to one's overall lifestyle.  The same theory goes when when goes on vacation.  I personally don't believe that one takes a vacation below the lifestyle that one lives at home.  If you live in 4 or 5 star surroundings, you should be able to vacation that way.  Same as ERing.  Not much reason to ER if you go  down a notch or two in lifestyle.

I would agree with this, except that many of us were very unhappy in our jobs, and didn't want to go around again. Some also were involuntarily retired, acquired disabilities, etc. So there are many reasons to ER, leading to many different material lifestyles. To be truly rich, as in beyond considering expenses is not in the future or present of most of those here.

I came out of the 70s with a back to the land bent. It took me along time to figure out what the financial issues were, let alone how to responsibly solve them.

Ha

 

[Martha]

So Canadian Girl, how old are you? What do you want from life?

 

[Canadian Girl]

I won't tell you, but I'll tell you this.    I have more than I need, but I now find "stuff" to be oppressive.   I sold the sports car and now drive a very useful (and ugly) truck.   I sold the mansion and now live in a little beach cottage.   I had a kid, whom I love more than anything (and she provides a constant source of amusement).   And I don't travel much, because I no longer need to escape work and take vacations.   Life is good.

I'd love to know how you came to this . I'd love to reach this state of mind. Perhaps you are right that we need the 'stuff' to escape. Perhaps you can advise?

 

[wabmester]

I'd love to know how you came to this . I'd love to reach this state of mind.  Perhaps you are right that we need the 'stuff' to escape.  Perhaps you can advise?

That is a seriously good question.

Do you have a kid?   If not, get one.   Not only are they entertaining, but they force you to lose all of your self-conscious status seeking habits.   Making loud rude noises and disgusting messes does that for you.

And if you have enough stuff for long enough, the stuff will punish you.   Eventually, you'll get the message and stop buying stuff.

Finally, hormones play a role.   Youth makes you crave adrenaline (or it did me, anyway).    Eventually, you recognize adrenaline for what it is.   A hormone.

 

[haha]

I sold the sports car and now drive a very useful (and ugly) truck.  

Wab, wasn't that a Miata?

'Nuff said.

Ha

 

[maddythebeagle]

Isn't the goal to ER AND live really comfortably?  What's the fun ERing but needing to 'scrimp' and watch your pennies.  I have always believed that when one ERs that you are doing the same or better in your lifestyle than when you were working.  True, your lifestyle is great because you're not working, but I am referring to one's overall lifestyle.  The same theory goes when when goes on vacation.  I personally don't believe that one takes a vacation below the lifestyle that one lives at home.  If you live in 4 or 5 star surroundings, you should be able to vacation that way.  Same as ERing.  Not much reason to ER if you go  down a notch or two in lifestyle.

I think this is all a matter of perspective. Some people just dont value things the same. I would suggest that you read something like The Millionaire Next Door for some ideas on wealth.

 

[wabmester]

Wab, wasn't that a Miata?

'Nuff said.

And an MR2 Spyder.    Hey, it's the horsepower to weight ratio that does it, not the price.  

 

[Canadian Girl]

So Canadian Girl, how old are you?  What do you want from life? 

Martha - your 'what do you want from life' is the million dollar question.  If I knew I guess I wouldn't be searching for the 'unattainable'.  Perhaps you too can advise me on how to get to this point.

As for how old?.....early 40s.......mentally..in my 20s

 

[haha]

And an MR2 Spyder.    Hey, it's the horsepower to weight ratio that does it, not the price.  

The MR2 saved you. Never saw a teeny-bopper driving an MR2.  

Ha

 

[Cut-Throat]

Retiring Early was never as much a goal to me as much as Financial Independence. A recognition that someday, my life as an overpaid employee would come to an end and I did not want to actually have to work for a living

 

[Spanky]

If I knew I guess I wouldn't be searching for the 'unattainable'. Perhaps you too can advise me on how to get to this point.

Stop searching since happiness is a state of mind.

 

[cute fuzzy bunny]

I had to get off the treadmill for a while for it to sink in. Stuff <> happiness and 90% of what I did for work = ridiculous.

 

[lazygood4nothinbum]

i was always around stuff but never caught up by it. my happiest, most memorable times where not at fancy restaurants or hotels or yachts and i've had all that in my life.

my best times were barefoot on a beach with friends and a few beers. exploring a new trail on an island that lead us to a 16th century ruin with a swimming pool build in at the back of someone's estate. getting drunk in high school and skinny dipping & pool hopping from condo to condo along the beach.

working in the garden and quietly contemplating life, sleeping and dreaming and having nothing at all to do with anything that costs anything. living the bohemian life and trading in seashells.

nothing is more adventurous, nothing more thrilling, nothing is more demanding, nothing more satisfying than self-discovery, introspection, the journey within. everything else is distraction.

"know yourself. if you need help, call the f.b.i." ~~ the deteriorata, national lampoon, circa 1970something

 

[audreyh1]

When we first ER'd, we set aside quite a princely sum for travel in style. In general I think that was a good idea - have something to "splurge" without concern for the total portfolio.

And we went on some mighty fine trips, some in high style.

And you know what? Couldn't care less about the "5-star" hotels. They don't appeal to me any more than your regular motel. It's still just a barren, empty, sterile room. Little comfort - no matter how "fancy" the presentation.

Actually - I had already figured this one out from traveling on business trips - the fancy hotels just don't deliver that much for the price. Really nothing more than a changing room/place to sleep.

The absolute most fun trip we ever had involved staying in extremely cramped cabins in a 80 foot long-range fishing vessel plus shared showers. But we sailed the Sea of Cortez from dawn till dusk every day following whales and other marine creatures. And the ship cook was amazing. The decks and common areas very nice. The wildlife encounters, the views, the mooring near secluded bays and islands - that was so fantastic, it really didn't matter where we slept, showered or changed.

It was a pleasure to see how much our travel expenses came down after we figured out how to do things "our way" at our own pace. Using an RV instead of staying in hotels/motels was a biggie. It's amazing what a different it makes when you are staying in your "own space". And of course - no guides, no groups, no car rentals, - way less expensive.

When you are working, you have to pack as much vacation as you can into a the short amount of time you have available. You have to fly there - again time constraints. You want the best of everything, the biggest bang for your buck. When you aren't working anymore and have oodles of time, priorities change. You want a more leisurely experience. You're not willing to follow someone else's agenda, you want to create your own. The amazing thing is that as you have more time, recreational travel becomes less expensive and less stressful.

Audrey