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Old 04-11-2016, 02:36 PM
 
3,491 posts, read 5,672,752 times
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Quote:
Originally Posted by jasperhobbs View Post
Yeah I am working on digging some oil wells in my backyard. So far just night crawlers and no oil
lol
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Old 04-11-2016, 06:23 PM
 
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Quote:
Originally Posted by Serious Conversation View Post
I'm 29 and the only person I know who could do this is an entrepreneur who has founded five companies with nine figures in revenue. He's 27 or 28 now.
He also likely started with 9 figures at his disposal.
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Old 04-11-2016, 06:31 PM
 
Location: Scottsdale, AZ
1,384 posts, read 817,922 times
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I have a friend that retired at 29. He made an app and now receives about 5k per month passive income. He spends most of his time traveling. Really nice guy. Doesn't like to show off. He's encouraging me to get into business and told me that he'd mentor me.
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Old 04-11-2016, 07:03 PM
 
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Originally Posted by Akonyo View Post
I have a friend that retired at 29. He made an app and now receives about 5k per month passive income. He spends most of his time traveling. Really nice guy. Doesn't like to show off. He's encouraging me to get into business and told me that he'd mentor me.
Yeah, I wouldn't exactly call that retired. $5k/month (which won't last forever) is hardly a windfall.
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Old 04-11-2016, 10:31 PM
 
Location: San Ramon, Seattle, Anchorage, Reykjavik
2,241 posts, read 992,930 times
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When I was 16 I came up with an idea for a simple product that city maintenance departments all over the country needed. I contracted out to a foundry, who made and sold them for me. Didn't need a patent as the market was too small for another company to jump on. However, for me, it generates about $180k of income a year. I could have retired at age 20. Didn't, although I have sort have retired at age 48. For my family this is good enough.

Note - other than a paid off mortgage on an inexpensive house, we've never had debt. We buy used cars, drive them forever, don't buy fashion, etc. Your mileage may vary.
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Old 04-11-2016, 10:33 PM
 
Location: San Ramon, Seattle, Anchorage, Reykjavik
2,241 posts, read 992,930 times
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Quote:
Originally Posted by Cleveland_Collector View Post
Yeah, I wouldn't exactly call that retired. $5k/month (which won't last forever) is hardly a windfall.
When I was single I could have easily traveled the world on $5k per month minus taxes.
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Old 04-12-2016, 04:55 AM
 
Location: Tennessee
23,647 posts, read 17,615,071 times
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Originally Posted by Cleveland_Collector View Post
He also likely started with 9 figures at his disposal.
Far from it. Completely middle class background and his dad died shortly after graduating high school.
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Old 04-12-2016, 06:15 AM
 
Location: RVA
2,172 posts, read 1,270,926 times
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Most or all of those "retired at 25, 35" etc simply mean they have enough steady income from a smart/lucky investment, real estate, rental income, entrepreneurial endeavor etc so they don't HAVE to work FOR anybody. Owning rental property for income is not my idea of being retired in any way shape or form. They make money (or try to) doing what they want, like blogging, typically on multiple sites, using catchy snag phrases like....."I retired at 25, and you can too!" and then get paid by the number of hits. We USED to call that "writing for a living"....but they don't. And if you fail to write or keep an audience....bye bye.

Plenty of con artists that blog anything you want to hear for income. Reminds me of "Love talking on the phone? Make up to $5000 a week!" And it was for phone sex.

I guess since I've always liked what I do for a living, I must also be retired....just didn't know it.
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Old 04-12-2016, 06:27 AM
 
7,812 posts, read 4,400,783 times
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Quote:
Originally Posted by Stonepa View Post
When I was single I could have easily traveled the world on $5k per month minus taxes.
I could easily retire on $5k a month; in fact, I'm currently living on - and will be retiring on - a lot less before SS kicks in and I start drawing on my IRAs.
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Old 04-12-2016, 06:38 AM
 
Location: USA
6,226 posts, read 5,369,286 times
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I knew a guy got a multi million dollar trust fund at that age. He considered himself "retired" and just did drugs and snowboarded.

I don't know how anyone can truly enjoy navigating today's hostile workforce. Unless you study STEM, chances are the only jobs you will be be able to get barely pay you enough to tank your car to get to work.
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