If you could afford to retire at age 33, would you?

[BackInTheGame78]

Fo sho!

 

[SW15]

I am 38. If it were financially feasible for me to retire today, I would retire today,

 

[AAAgent]

Let's say you're 33 and a multi-millionaire and you retire. What are you going to do with yourself for the next 40+ years? There's only so many posts and threads one can read on SoSuave.

I had this option and i chose after taking a year off to go back to work. Literally nothing to do that young with a few million. Not enough to be elite status and splurge but enough to live frugally for the rest of your life.

I wanted to travel with friends and none were available. I wanted to go play, club, and gamble all the time which was a bad habit. No one was around to live that lifestyle with me so I chose to go back to work, develop more skills, make more money and keep myself busy.

still working now and its a lot more fulfilling than doing jack ****, playing video games. I did start my own youtube channel and socials during that time that i built to a few thousand followers but honestly its more fun to be working and meet people and still be able to enjoy life.
--

 

[RickTheToad]

I had this option and i chose after taking a year off to go back to work. Literally nothing to do that young with a few million. Not enough to be elite status and splurge but enough to live frugally for the rest of your life.

I wanted to travel with friends and none were available. I wanted to go play, club, and gamble all the time which was a bad habit. No one was around to live that lifestyle with me so I chose to go back to work, develop more skills, make more money and keep myself busy.

still working now and its a lot more fulfilling than doing jack ****, playing video games. I did start my own youtube channel and socials during that time that i built to a few thousand followers but honestly its more fun to be working and meet people and still be able to enjoy life.
--

Have you considered building a money bin to go swimming in?

 

[AAAgent]

Have you considered building a money bin to go swimming in?


View attachment 7879

a few million even before the recent money printing debacle still isn't too much. I was only 30 at the time. It's definitely enough that i stopped valuing money, but i wasn't as naive to think it'd last my lifetime.

I took the experience from how i made that money, applied it further to bettering my life and now i make $300k/year. Aiming for $400k/year if this go well this month and also exploring new jobs while my net worth accrues.

--

when you have money and after you buy the things you want, there's really not much else to do which is why most people go back to work.

here are my expenses and what i bring in just from working. $20k/m income from work not including stock options.

rent - $3.3k/m
car - $1k/m (planning on another when i buy my house)
food & utilities - $4k/m
wife - $2k/m
baby $1k/m
misc - $1k/m

Even with these expenses, I can save a little but the money i've made prior is just gravy on top. Working just makes everything better. Keeps me busy. i'm learning new things, increasing my value, still stacking income, i still make a lot more money than i actually spend.
--

I'm 34, about to be 35 now.

 

[EyeBRollin]

a few million even before the recent money printing debacle still isn't too much. I was only 30 at the time. It's definitely enough that i stopped valuing money, but i wasn't as naive to think it'd last my lifetime.

I took the experience from how i made that money, applied it further to bettering my life and now i make $300k/year. Aiming for $400k/year if this go well this month and also exploring new jobs while my net worth accrues.

--

when you have money and after you buy the things you want, there's really not much else to do which is why most people go back to work.

here are my expenses and what i bring in just from working. $20k/m income from work not including stock options.

rent - $3.3k/m
car - $1k/m (planning on another when i buy my house)
food & utilities - $4k/m
wife - $2k/m
baby $1k/m
misc - $1k/m

Even with these expenses, I can save a little but the money i've made prior is just gravy on top. Working just makes everything better. Keeps me busy. i'm learning new things, increasing my value, still stacking income, i still make a lot more money than i actually spend.
--

I'm 34, about to be 35 now.

Wife on $2K / month?

 

[AAAgent]

Wife on $2K / month?

Yeah that’s her own personal spending. She uses my account for anything for the family. If she needs more she just asks.

 

[BeExcellent]

Absolutely. I am working toward early retirement now. If could retire today I’d sleep in each day, get up, work out and pursue my passions. Those include Latin dance & tango, chess and I’d also be free to parent full time while my kids finish out high school. I’d perhaps coach soccer (something I greatly enjoy) and write and create art. I’d have more to do that I really enjoy doing.

You see money buys freedom. If you know what generates happiness for you then you’ll never get bored. Especially if the things that you enjoy don’t cost lots of money. Sleep, sex, exercise & a healthy lifestyle do not require lots of money. So for relatively little I could enjoy freedom and pursuit of things I truly enjoy. I’m very skilled at my career but it’s a means to an end. I’d also consult in my industry ad hoc to create infusions of cash here & there.

I’d be the cat who ate the canary if I could retire this instant. Honestly I could retire now I just would have to penny pinch more than I’d like. Instead I’ll get into a spot where I can retire and enjoy my current lifestyle. That will be awesome

 

[SW15]

Absolutely. I am working toward early retirement now. If could retire today I’d sleep in each day, get up, work out and pursue my passions. Those include Latin dance & tango, chess and I’d also be free to parent full time while my kids finish out high school. I’d perhaps coach soccer (something I greatly enjoy) and write and create art. I’d have more to do that I really enjoy doing.

You see money buys freedom. If you know what generates happiness for you then you’ll never get bored. Especially if the things that you enjoy don’t cost lots of money. Sleep, sex, exercise & a healthy lifestyle do not require lots of money. So for relatively little I could enjoy freedom and pursuit of things I truly enjoy. I’m very skilled at my career but it’s a means to an end. I’d also consult in my industry ad hoc to create infusions of cash here & there.

I’d be the cat who ate the canary if I could retire this instant. Honestly I could retire now I just would have to penny pinch more than I’d like. Instead I’ll get into a spot where I can retire and enjoy my current lifestyle. That will be awesome

Do you think you'll be able to time your retirement with your last child's high school graduation? That seems like a really cool idea. The success of that idea would depend upon how much your 18-30 year old children would need from you. Since ~2000, 18-30 year olds have been more dependent upon their parents in young adulthood. Some of the first graduating classes to experience this were the Classes of 2001 and 2002, who graduated into the dot com bust. The mainly Millennial graduating Classes of 2007-2011 got the short end of the stick graduating into that severe recession. Young adults living at home became more pronounced with Millennials and the Great Recession.

Even as the oldest Millennials are 35-40 now, many are still suffering as a result of either graduating into The Great Recession or being a Last In, First Out type layoff in The Great Recession.

I think we're at a point in the United States where it is a pipe dream that young adults can be fully independent at either 18 or 22. So many Millennials went to college in the 2000s and 2010s and ended up doing some stint living at home even as college graduates. That's a sign of a faulty economy and/or too many college graduates. I think we send too many children to college and not enough into trade occupations. It's also a consequence of decisions made in the 1970s to de-emphasize manufacturing. A Silent Generation (1926-1945) or even an early Baby Boomer (1946-1964) could have graduated high school and gotten a decent factory job that could have supported themselves or possibly even a family. I, as an early Millennial, knew that my options were lousy if I had stopped pursuing education with only a high school diploma. I went to college and later graduate school. Some of my traits are well suited towards white collar work associated with people with bachelor's and master's degrees but I have wondered many times about the path I could have taken as a blue collar worker in the trades.

 

[BeExcellent]

Ideally yes @SW15 hopefully sooner. My son is in his second year at university and in ROTC in a leadership role in his cadre. He will graduate as a 2nd Lt and start as a Jr commissioned officer if he stays on his current trajectory. He also is a gear head and socially well calibrated with talents toward both cars and computers. He will be fine and has already been in the workforce and has both solid work ethic and solid work history.

My 17 year old daughter just started her first job and is also gaining experience through her high school that will set her up for a career in the fine arts. She will complete an internship this summer in her chosen creative field through people in my network. She is responsible, grounded, organized and intelligent. She is developing into a young woman who should be able to look after herself too.

I assist both kids with expenses related to education. That means tuition for my son, and in time for my daughter.

My youngest is only 13. She is still sorting out what stimulates her and what she wishes to pursue. Time will tell.

All my kids are raised with an independent mindset. They know the teen years are “adult in training” years. They all cook, clean, know about personal finance and so forth. They know they are not entitled to what I have and they are grateful. They also understand that the world doesn’t care about them and they know to avoid making mistakes they cannot recover from.

The things I espouse here are the things I impart to them.

They know it is on them to choose a life path and that I am not going to fund laziness.

They are going to University if it makes sense for what they choose.

I agree strongly the trades are unsung these days and that many a solid living can be made there.

 

[AAAgent]

What industry are you in if you don't mind me asking?

I'm in the tech industry. I'm talking to a gun company right now who's pricing me in the same range so i'm not exactly limited to tech. I can work in blockchain, gaming, tech, and other industries.
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If you want to make money, get out of your hometowns and get to big cities. Sure there are anomalies that can make it in their small hometown but unlikely. Small cities have less opportunities and less hustle. Another thing that annoyed me staying local was dating. If you date a girl, you most likely know the 5 other guys that have dated her before you. I didn't want that and never understood why my friends never went to greener pastures. I never dated within my social circle which all of my friends did.

 

[Kdw8]

I'm doing pretty well for myself now, I don't have a plan and haven't put much thought into retirement. It's an important thing and I have no reason to be struggling when I'm 40+ if I'm not struggling now.

 

[metalwater]

Absolutely. I am working toward early retirement now. If could retire today I’d sleep in each day, get up, work out and pursue my passions. Those include Latin dance & tango, chess and I’d also be free to parent full time while my kids finish out high school. I’d perhaps coach soccer (something I greatly enjoy) and write and create art. I’d have more to do that I really enjoy doing.

You see money buys freedom. If you know what generates happiness for you then you’ll never get bored. Especially if the things that you enjoy don’t cost lots of money. Sleep, sex, exercise & a healthy lifestyle do not require lots of money. So for relatively little I could enjoy freedom and pursuit of things I truly enjoy. I’m very skilled at my career but it’s a means to an end. I’d also consult in my industry ad hoc to create infusions of cash here & there.

I’d be the cat who ate the canary if I could retire this instant. Honestly I could retire now I just would have to penny pinch more than I’d like. Instead I’ll get into a spot where I can retire and enjoy my current lifestyle. That will be awesome

life is short. it seems like once a week or once a month I know someone that dies while saving for retirement...

serious question: as a successful woman about money that can still find men that will pay. why do you need more money, what you need is more time. every moment is precious. between 50 and 70, your body will change. if you have the chance to run for a while now, do it. time is not a friendly god.

 

[BeExcellent]

life is short. it seems like once a week or once a month I know someone that dies while saving for retirement...

serious question: as a successful woman about money that can still find men that will pay. why do you need more money, what you need is more time. every moment is precious. between 50 and 70, your body will change. if you have the chance to run for a while now, do it. time is not a friendly god.

Agreed. Time is everyone’s most precious commodity but in youth everyone feels invincible because the time horizon is assumed to be long so time is not as valued by a 20 year old as by a 50 or 60 or 70 year old, when you begin losing people who are your same age, it heightens appreciation for time & the realization that nothing is given and that one’s life is finite.

The idea is to be happy/content within oneself and grateful for one’s blessings. I don’t need a billion dollars and a G6 for that. I have that now.

I keep working to cover expenses for the kids and for discretionary income.

My personal philosophy is to enjoy life in the moment with an eye toward planning for the future. I indulge in some things few can afford and the money spent on those things could be invested or will extend my work career for a few more years but so what? Why wait to enjoy until I’m older? Time horizons are unknown. Future health status is unknown. I travel and go with my bf to his sporting events, I office remote when I am not on an actual business trip. That means I can work from anywhere in the world with a WiFi connection. I enjoy concerts and performances and experiences. I enjoy high end restaurants and wine.

Essentially I have designed my life and made choices that enable me to enjoy the now while creating income that will cover me in the future. I sacrificed many things to buy investment real estate over the last 20 years and those assets carry themselves and throw off cash flow. But I have always enjoyed the nightlife, good food, good wine, and good friends.

Yes I can still attract desirable men with resources. So what. I don’t need a man for his resources. I require a man to be self sufficient and in the same income strata as I more for relatability/compatability. I am not going to be involved with men who have not accomplished something in life. Why would I? In a relationship you must make some choices and compromises. I’m only doing that with and for a man who brings value to the table. Just as I do. If I’m going to deal with someone else’s dirty socks and idiosyncrasies then it must be a net positive across the board. Otherwise I’m great on my own.

I’ve got plenty of “stuff”. Nice stuff doesn’t impress me. People who are genuine even after they’ve “arrived” financially are exceptional people and that impresses me. Life is too short for pretense and the BS of trying to impress others. Ain’t nobody got time for dat.

 

[Plinco]

Have you considered building a money bin to go swimming in?


View attachment 7879

 

[AAAgent]

life is short. it seems like once a week or once a month I know someone that dies while saving for retirement...

serious question: as a successful woman about money that can still find men that will pay. why do you need more money, what you need is more time. every moment is precious. between 50 and 70, your body will change. if you have the chance to run for a while now, do it. time is not a friendly god.

That's just different perspectives on why some want more money or less. I don't live my life to be happy which i've realized after discussing with people they find weird. I live my life to accomplish certain goals and those goals to me are more important than pursuing happiness and living in the moment. Money is just an means to an end of me accomplishing my goals. I didn't even personally realize that this is contrary to how others lived life.

I need money to achieve my goals, and I have certain milestones set for myself. $100k, $1m, $100m, etc. and sub goals within each of those goals. While i'm on my journey of acquiring money and wealth, I'm also focused on acquiring and developing skills to make me more capable of achieving my goals after I have the tools ($money) to implement them.

At the end of the day, we're all going to die. Some sooner than later. Live life how you want and focus on the things important to you whether thats money, women, goals, etc.

 

[RickTheToad]

a few million even before the recent money printing debacle still isn't too much. I was only 30 at the time. It's definitely enough that i stopped valuing money, but i wasn't as naive to think it'd last my lifetime.

I took the experience from how i made that money, applied it further to bettering my life and now i make $300k/year. Aiming for $400k/year if this go well this month and also exploring new jobs while my net worth accrues.

--

when you have money and after you buy the things you want, there's really not much else to do which is why most people go back to work.

here are my expenses and what i bring in just from working. $20k/m income from work not including stock options.

rent - $3.3k/m
car - $1k/m (planning on another when i buy my house)
food & utilities - $4k/m
wife - $2k/m
baby $1k/m
misc - $1k/m

Even with these expenses, I can save a little but the money i've made prior is just gravy on top. Working just makes everything better. Keeps me busy. i'm learning new things, increasing my value, still stacking income, i still make a lot more money than i actually spend.
--

I'm 34, about to be 35 now.

A few million in an S & P 500 fund would bring in, on average, 7% a year. 3 million x 7% = $210,000.00 in gains. Add a 1.5% dividend, and that's another $45,000.00. Most people could live pretty well on $255,000.00 a year. Or, parlay that up into some rental properties and pull in even more + depreciation and less taxes.

Why are you renting? It's a waste. House hack at least and you can have the other unit(s) pay your rent, some depreciation and write-offs. 1k for a car? What are you leasing, a BMW? 4k for food and utilities.. I do not think Warren Buffett spends 52k a year on food and utilities. Can't speak on wife and baby, but 36k seems like a lot as well, but I have neither at this time, so I cannot comment on those items.

Seems you are BMF dude. I hope you have a huge rainy day fun for when life happens.

 

[AAAgent]

A few million in an S & P 500 fund would bring in, on average, 7% a year. 3 million x 7% = $210,000.00 in gains. Add a 1.5% dividend, and that's another $45,000.00. Most people could live pretty well on $255,000.00 a year. Or, parlay that up into some rental properties and pull in even more + depreciation and less taxes.

Why are you renting? It's a waste. House hack at least and you can have the other unit(s) pay your rent, some depreciation and write-offs. 1k for a car? What are you leasing, a BMW? 4k for food and utilities.. I do not think Warren Buffett spends 52k a year on food and utilities. Can't speak on wife and baby, but 36k seems like a lot as well, but I have neither at this time, so I cannot comment on those items.

Seems you are BMF dude. I hope you have a huge rainy day fun for when life happens.

Renting mainly because i move often. With work, covid, etc, i'm not sure where i'm going to live. Im supposed to be working from LA but never moved because of covid/blm riots. I want to move to texas and might push for it.. California is stupid with its laws and leadership. I planned to move back to east coast for a bit but then baby happened and my insurance in network coverage was a lot better to handle the baby so i stayed on the west coast. I will need to move in the next few months. I'm too busy to manage properties, wife is horrible with numbers, and childhood friends are all lazy/my new work friends all make too much to care.

Car - It's my wife's baby car. A fully loaded BMW x5. I plan on buying my own car when i get a house but still not sure. My friend was robbed recently for just driving a nice car and wearing nice clothes.

Food - I order ubereats probably on average atleast once a day sometimes twice a day each work day. Weekends we eat out. We order bubble tea often as well.

Wife & baby - baby, we've been spending around that much per month for formula, clothing, diapers, etc. Wife doesn't really spend on herself too much. She's very conservative but she will complain when her funds get too low. I'm considering buying her a new $3k gaming PC since her computer is about to die.

all my expenses above are covered solely based off my work income and not from anything i've made prior to that, so plenty of rainy day fund. I also max out my 401k which i plan to never use as I have no faith in traditional financial markets/government but on the off chance I can use it, there's probably going to be millions in there.

--
Worked very hard to get here and planned years in advance to get to where I'm at. I never actually thought i'd get to this point. Now that i'm here, i can hardly believe it. You can check my history of when I joined SS 15 years ago. I was just a boy who was broken by a girl and ****ed up his life with no future prospects. Worked day in and day out on improving myself physically and mentally for years. While most were enjoying their lives, i was doing stuff like reading books, working OT, writing, etc.

First time i really looked back in the past 15 years to reflect, most of my problems and worries were gone. I was probably 25 then. The second time i looked back, i was a millionaire at 29.

 

[metalwater]

That's just different perspectives on why some want more money or less. I don't live my life to be happy which i've realized after discussing with people they find weird. I live my life to accomplish certain goals and those goals to me are more important than pursuing happiness and living in the moment. Money is just an means to an end of me accomplishing my goals. I didn't even personally realize that this is contrary to how others lived life.

I need money to achieve my goals, and I have certain milestones set for myself. $100k, $1m, $100m, etc. and sub goals within each of those goals. While i'm on my journey of acquiring money and wealth, I'm also focused on acquiring and developing skills to make me more capable of achieving my goals after I have the tools ($money) to implement them.

At the end of the day, we're all going to die. Some sooner than later. Live life how you want and focus on the things important to you whether thats money, women, goals, etc.

that sounds good. as long as you feel success each or most days, that's a good path.

 

[AAAgent]

that sounds good. as long as you feel success each or most days, that's a good path.

It doesn't feel like success most days and I don't think it should. It was a tough journey and the journey isn't over yet. At times, i reflect on where I was and where I am now and it does feel nice, but then I look at where I want to be...... its still so far away. As I mentioned previously, I accept this and I don't live my life to be happy.

Most of my friends that watched me go through this path say they prefer their own lives. To each their own.