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Since I'm already past 40, I won't be retiring by 40, lol
The main thing is that most people will need to reject at least some of the standard ways of doing things if they want to have a decent retirement. The standard ways of doing things leaves people broke.
I like the bike advice. But that seems to be a better money saving strategy for those living not too far from their jobs and a shopping area.
Part of not living too far away from your job is about the way you set up your life. Pete actually selected the city and job where he lives based on cost of living and the fact that he could bike to work. Granted, not everyone can do that, but more people could.
Part of not living too far away from your job is about the way you set up your life. Pete actually selected the city and job where he lives based on cost of living and the fact that he could bike to work. Granted, not everyone can do that, but more people could.
Yes, plenty of skilled/semi-skilled (or working two jobs) people making $70k+ in the south can (or really could between ‘09-‘16) move to homes that cost $50k and WALK to work. Pay the home off/no car/make a few good investments while making $70k (and growing) per year...the world is your oyster for life within a few short years (possibly well before 35).
Yes, plenty of skilled/semi-skilled (or working two jobs) people making $70k+ in the south can (or really could between ‘09-‘16) move to homes that cost $50k and WALK to work. Pay the home off/no car/make a few good investments while making $70k (and growing) per year...the world is your oyster for life within a few short years (possibly well before 35).
I'm not sure it's as easy as you make it out to be, but a lot of people just assume a 1/2 hour+ commute in an oversized gas guzzler is "normal".
One of the things I didn’t take into my initial calculations was how being retired early can actually become CHEAPER than you thought. MUCH cheaper. I’m talking $10k or LESS per year.
It can REALLY become cheaper if you’re someone that settles down with someone that at least matches your retirement income (through being retired themselves or by working a conventional job). Hopefully that person also somewhat values time over money. Plenty of women out there and think about...those of child bearing years WANT a self sufficient man with plenty of time for being a companion when they desire after work and plenty of time for being a father to future children. Some love it.
Another thing I underestimated is how all that free time allows you to get the best deal on everything. It becomes a game. After many years I noticed that I got better deals on everything compared to friends and family. Then I thought why is that? Well, when you’re retired you have TIME. Plenty of TIME. Time to get the best deal. Time to get the highest QUALITY items for the lowest prices. You can do your research. Not just skim the surface of things like the working sap. Your time is limitless. I have time to become a pseudo expert on a topic or just know a little about everything. I feel like I’ve become more intelligent and confident every year.
My mind only stops thinking while I sleep. Self reflection becomes a hobby. I often wonder how working people could possibly squeeze all these thoughts into a day if nearly 10 hours including commute are devoted to a job.
Anyway, these are just a few ways off the top of my head.
Let me just say that extreme early retirement doesn’t cure all life’s woes but it sure does make it much easier to deal with them. I’m perplexed by what I’ll be like when I’m much older. God is great.
If anyone making $70k plus wants get near retirement within 4-5 years, just come live with me...for a nominal fee. I’ll show you the ropes of contentment...just don’t mess with my stuff, give me plenty of space, don’t ask too many questions and sign a contract stating you tell no one what you know/find out about me or any of my friends/family/neighbors. The happier I am, the quicker I get you retired...the quicker you’re out...the less you pay.
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