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Did you make multiple accounts to reply to yourself and accidentally logged into the wrong one? LOL
Quote:
Originally Posted by eddiehaskell Eddie isn't telling people to live like him. He is simply telling people how he lives and dispelling myths about how terrible one must live on a modest income.
I'm still somewhere in the middle of reading this nonsense, but curious if this ever got a clear response.
Sure looks like Eddie signed in to the wrong account and is talking to himself ??? page 86
It could be Ricky Henderson talking about himself in the third person.
No one knows and i tend to think no one cares either unless there was a point to his thread . What he chooses to live on is his business and of no interest to us with out a unique or educational story behind it.
Living on a shoe string budget is done daily.
Yes, I'd tend to think it is uninteresting for him to tell us we can all retire extremely early - while simultaneously refusing to disclose the source of his income. That would be like saying "Here, I'll teach you how to analyze this legal text.....but you have to wear a blindfold...."
retiring in your 20's or 30's is not hard nor is living on a modest income not terrible . as long as someone buys you a house , a car and leaves you a trust account spinning off 20k a year first , as well as tax payers pick up your medical insurance for free . ha ha ha . easy peasy living the good life then .
I thought there was value in this thread. I think it's similar to MMM. Not sure he phrased the thread title particularly well, but I think there is value in spreading the basic MMM message that it is possible to prioritize what you value and retire well before the traditional age of 65. Obviously it wasn't a perfect thread, but it is interesting to see people out there that are happy living a life on $10-15k/yr.
Just because he isn't disclosing how he did it and he did say 'early 20s' which clearly is almost impossible if you are doing it all on your own, doesn't mean that it isn't possible for someone in their late 20s, early 30s to do. It caused me to think about some things in different ways. I know early on I had questions about potential changes in his lifestyle as he ages (i.e. kids, etc.) but I realized his plan wasn't to support a family, just his half of the living expenses. This is also why I had trouble comprehending how Jacob was able to do something similar on such a low income, until I realized he was talking about it from a his half of the living expenses in his relationship. If OPs future wife or long term girlfriend enjoys her work and OP wants to stay home with the kids he is still producing $20k/yr while providing a valuable service as a full time daycare for his family. I bet a lot of people would take that. We tend to think of this as traditionally the woman's part, but I know more than a few families that have working wives and stay at home dads. One of my good friends is retired from the military (wounded in combat) and he stays at home while his wife works. Seems very similar to me, he even has about $40k/yr non-taxable income for life. He's a little older, but he's been receiving the pay since his late 20s. Now that the kids are in school he's taking classes and trying to figure out what he enjoys, but he just went to a wood working shop and volunteered his time in exchange for teaching him how to do wood work because that was something he was interested in.
i would agree with you about the mmm lifestyle . but that is not what the op presented here . quite frankly i have no idea what his post represented other than if someone pays for all your most expensive things like a house ,car and health insurance you too can retire in your 20-30's .
Did you make multiple accounts to reply to yourself and accidentally logged into the wrong one? LOL
Quote:
Originally Posted by eddiehaskell Eddie isn't telling people to live like him. He is simply telling people how he lives and dispelling myths about how terrible one must live on a modest income.
I'm still somewhere in the middle of reading this nonsense, but curious if this ever got a clear response.
Sure looks like Eddie signed in to the wrong account and is talking to himself ??? page 86
I don't believe so. Eddie seems to be suffering from some sort of mental handicap. He/she would only pick and choose responses that fit their liking and then respond in drivel that would have elementary school kids laughing at the attempt.
Just stumbled across this behemoth of a thread. My thoughts:
I think that's where a lot of contention lies in how to get to a situation where you can generate 20 k a year passively. You need to have a substantial sum in place to reap passive income of 20k a year...really 23 k since you need to account for federal and state income taxes. States that don't have income taxes tend to balance have higher taxes elsewhere...
Another issue is that there is no contingencies in place of catastrophic emergencies. I don't see how a diagnosis such as cancer wouldn't blow holes in that perfect budget, even with health insurance.
Just stumbled across this behemoth of a thread. My thoughts:
I think that's where a lot of contention lies in how to get to a situation where you can generate 20 k a year passively. You need to have a substantial sum in place to reap passive income of 20k a year...really 23 k since you need to account for federal and state income taxes. States that don't have income taxes tend to balance have higher taxes elsewhere...
Another issue is that there is no contingencies in place of catastrophic emergencies. I don't see how a diagnosis such as cancer wouldn't blow holes in that perfect budget, even with health insurance.
I would say that the first point is the real issue, not the second. Eddie argues that you can move to a super-low-cost area and own a house with no mortgage and low property taxes and use obamacare for your insurance needs, so that your cost of living is $10k/year and the remaining $10k can be saved up for emergencies. Of course the other problem is....what happens if you later decide you want to have one or more children, but your huge resume gap makes it tough to find suitable employment? Not everyone wants to be childless forever.
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