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It's funny that you are speaking of someone enjoying their life while working as an outlier and then seem to think someone being under 25 with enough in assets to generate 20k/yr post-tax a paid for house and a paid for car all on his own as if OP or his lifestyle can somehow be a normal lifestyle for many 20 year olds if the plan carefully...............
We're not talking any ONE person, are we? Isn't this a prime example of an outlier? We're talking averages and majority. Where do MOST people end up?
Tell ya what. Set up a poll. Ask if one would rather be in OP's shoes at <30 years old with a fixed, nominal income and restrictive spending habits or someone who is >60 with enough disposable income to live in a high rise apartment and look down upon the street folk passing by. Which would they choose...
I think you are being a bit restrictive.
Here is a better question.
Which person would you rather be?
Person A
30 years old
Retired
Fixed nominal income
restrictive spending habits
Lives in a low COL area (may or may not be their ideal location)
Fixed lifestyle (no marriage, no family, single for life)
Person B
60 years old
Retired
Worked 40-45 hours a week from 25-60
Has a wife/SO and children
Was able to enjoy life while also saving for retirement
Lives in a house/apartment of their choosing in the area they want to live
Has enough in assets to generate an income that will support them living the life they lived before retirement
without the income side and how you got there, why not just call this thread post your expenses.
millions live on 20k,15k even less , and that's great but so what. unless you live where they do and live like they do who cares what their budget is.
but take someone who at the age of 24 ,on his own made enough to pay off his house and develop a way of getting a 20k income that an average person has a chance of duplicating and then we have something of interest.
show me ways I may be able to use bits and pieces of that in our own plan and I am all ears.
I love stories like that . I am always looking to steal ideas.
but posting your expenses and going I am living on this really is useless in my opinion. it is done every day by millions.
Last edited by mathjak107; 01-16-2014 at 11:44 AM..
Remember when you said you took a risk that could've landed you back in the ghetto? For anyone like me, the their worst case scenario is a part time job.
Actually he stated he would live in the projects if his risky deals failed.
Projects = Public Housing
His backup plan was to have taxpayers support his family.
Actually he stated he would live in the projects if his risky deals failed.
Projects = Public Housing
His backup plan was to have taxpayers support his family.
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Uh-oh...
