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Why am I quoting myself? Well, I received the nicest rep comment on this post, but the person who sent it did not type in his or her user name. I would love to know who you are. Can you please send me a direct message? Or if you prefer to remain anonymous, I respect that.
In any case, thank you for the kind words.
I think that was me. Sorry I should've left my name
I did give some thought to this. Dental insurance is about $50/month. However, have you ever looked into what dental stuff cost in other countries? Costa Rican dentist and the like often do the same procedures for 30% of what it cost here.
I pay it as I plan to add to my saving every year.
I agree that the right medical emergency can break the bank. It can break a multi millionaire's bank. Imagine being paralyzed from the waist down. How many people do you know that could afford the rehab Christopher Reeves received? I only know one, but he's a former all-star pro ball player.
The reason most of us have medical insurance is to pay for the unexpected stuff that happens 99% of the time. Why have insurance if it doesn't pay?
As far as housing disasters, seems to be super, super rare around here, but I do have home insurance. What more can I do?
Cars that are maintained well (I usually go for Honda/Toyota) shouldn't have too many big money problems.
All my family lives within 30 miles so no traveling for me. I'd only be responsible for my parents and brother's funeral cost, however they are as frugal as me and wouldn't dare put that on me.
Legal expenses? Am I the next Zimmerman?
There is no need to live in all this fear.
if you have no money coming in, how are you adding to savings every year? Eventually with no $$ coming in, savings will deplete...
Eddie you seem to think working life is akin to boring ,monotonous, drudgery for some it is but did you ever think some jobs are really neet, and a pleasure to go to every day,many people really like their jobs and wouldnt trade them for a lifestyle of getting up at noon everyday to go hang out somewhere.. Also the older you get the tougher it gets to land a job even a minimum wage fast food restaurant.
I've always viewed life as being the best you can be no matter what you are doing,i wouldnt be thinking i was trying very hard if my life goal was to wake up everyday at noon and ultimately go sit on my butt at the beach for the rest of the day..
Ed i'm just playing Devils advocate and if thats the life you want go for it but i just hope you dont wake up one day later in life and realize you've done very little,raised no family, never worked, never accumulated/accomplished anything,are now flat broke with nothing to show for your gift of life.
This.
My job is the best thing in my life.
It's amazing, fun, rewarding, challenging... they pay me well, I go on vacations... not everyone finds work to be miserable.
However there are many military retirees around. Tricare for healthcare and pensions from $17k to $30k/year.
If you own a home, have no debt, and migrate to a low COL area, sure it can be done.
It has been done.
My pension is less than $18k/year, though I served for 20 years to get my pension. Consider those who were 'medically retired', service members who are disabled badly may be 'medically retired' from Active Duty. They do not have to interface with the VA. They get their benefits directly from the DOD, I like do. Their pensions are calculated directly from whatever paygrade they were the day they became disabled. I retired as an E6 with 20 years of service, but someone else could become medically retired as an E3 with only 4 years of service. So their pension could easily be far less than my pension.
The best part of retiring from the military is that we do not deal with the VA. The VA is for vets, not the military.
However there are many military retirees around. Tricare for healthcare and pensions from $17k to $30k/year.
If you own a home, have no debt, and migrate to a low COL area, sure it can be done.
It has been done.
My pension is less than $18k/year, though I served for 20 years to get my pension. Consider those who were 'medically retired', service members who are disabled badly may be 'medically retired' from Active Duty. They do not have to interface with the VA. They get their benefits directly from the DOD, I like do. Their pensions are calculated directly from whatever paygrade they were the day they became disabled. I retired as an E6 with 20 years of service, but someone else could become medically retired as an E3 with only 4 years of service. So their pension could easily be far less than my pension.
The best part of retiring from the military is that we do not deal with the VA. The VA is for vets, not the military.
That is different, you served. You made something of yourself (& thank you for your service, btw)... This guy is just a leech to society
There's some social media entrepreneurs (YouTubers, Instagrammers, etc.), although rare, make or have made 7 figures a year when they were 13, 14, 15-years-old and still in high school, if they invested their millions well, they could have easily "retired" by the time they turned 20, if they wanted to.
Or you could be one of those high schoolers that created an app and sold it for millions before even graduating from high school and retired, although most young serial entrepreneurs seem to have that drive to keep creating and turning their millions into billions!
There's some social media entrepreneurs (YouTubers, Instagrammers, etc.), although rare, make or have made 7 figures a year when they were 13, 14, 15-years-old and still in high school, if they invested their millions well, they could have easily "retired" by the time they turned 20, if they wanted to.
Or you could be one of those high schoolers that created an app and sold it for millions before even graduating from high school and retired, although most young serial entrepreneurs seem to have that drive to keep creating and turning their millions into billions!
There are other ways too. The Fiery Millennial girl is 26 and owns a triplex, so her other 2 tenants pay for her housing, which means she only needs $10-$12k/yr, which you could get on $250k or half that in savings and a small side gig, like blogging with a good amount of followers.
I also have a friend that was in Iraq and was wounded on duty. He has a military pension that pays him a little over $30k/yr. He's a stay at home dad, but you could easily live off of that if you wanted to.
Now one thing I've noticed is that many people this age consider themselves FI if they have enough money to support their lifestyle. So theoretically if you have a SO and he/she likes nicer things like cable, eating out, etc. and they pay for it you could quit working at 30 and 'live off of $15-$20k' while your SO makes double that. Traditionally you would consider that a stay at home spouse, but many people in the FI community still consider themselves FI, even though they couldn't live like that if they were single.
Last edited by mizzourah2006; 09-08-2017 at 08:49 AM..
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I didn't even vote for Obama!
