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Old 04-10-2016, 07:01 AM
 
4,231 posts, read 2,713,746 times
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I know it sounds nonsense but i'm hearing about this stuff.

And i saw this blog post.

How To Retire in Your 20s

Has anyone done something like this??

It seems difficult and ambitious but not impossible.

One has to be frugal of course.

Saving from an early age(possibly before 18) and getting no or little college debt seems like key points.

After couple of years work and aggressive savings it seems doable.

But you need good stock returns which are not possible at the moment.

Retiring at 25-28 sounds nice
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Old 04-10-2016, 07:05 AM
 
Location: Tennessee
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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.
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Old 04-10-2016, 07:18 AM
 
Location: southwestern PA
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Meh... Anyone can blog anything.
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Old 04-10-2016, 07:39 AM
 
Location: Florida
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If you can come up with the right product you can but remember you need enough money to support yourself and family for 60 or 70 years. Don't forget inflation when you make up your budget.
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Old 04-10-2016, 07:47 AM
 
Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
22,569 posts, read 39,952,759 times
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Not the norm, but certainly possible. (Get to financial critical mass in your 20's).

Quite unlikely on 'wage income' alone.
Very possible if you get married early, are frugal, well paid, and have double income of $xxx,xxx. (Other risks involved)

Always helps to start early. I had my kids into self directed ROTH IRAs by age 12. They did quite well, but neither 'retired' in their 20's.

Plan B:

Retire Early, Retire often. Leaving Dairy Farm Boarding school at age 16 has been the sweetest (smelling) retirement of all!
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Old 04-10-2016, 08:33 AM
 
Location: Leaving fabulous Las Vegas, Nevada
3,859 posts, read 6,871,806 times
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I don't think it would be good for you. At that age, your brain should be in a mode to have a career and actively contribute to society.

Retirement can be similar but only after building up a base of experience. I don't think a 20s retirement would be fun at all.
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Old 04-10-2016, 08:40 AM
Status: "Re-edit status" (set 17 days ago)
 
Location: Was Midvalley Oregon; Now Eastside Seattle area
4,170 posts, read 1,895,955 times
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CBS, "Sunday Morning", 10April2016. Featured Segment.
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Old 04-10-2016, 08:42 AM
 
Location: Mount Airy, Maryland
10,460 posts, read 5,926,819 times
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Quote:
Originally Posted by photobuff42 View Post
I don't think it would be good for you. At that age, your brain should be in a mode to have a career and actively contribute to society.

Retirement can be similar but only after building up a base of experience. I don't think a 20s retirement would be fun at all.
Agreed. I have read a few things written by people in this position. They are bored out of their minds. All their friends have jobs, families, lives to live so they end up playing golf or going on trips by themselves. They find themselves with no reason to get out of bed in the morning, or in many cases after noon. They have no purpose. It's like Christmas every day, it would get old very very fast at that age.
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Old 04-10-2016, 08:52 AM
 
Location: Tennessee
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More generally, I think these "I retired in my 20s/30s" articles are disingenuous.

Sit down and think about this. If you're 29, you've probably had, at most, twelve years or so of decent work experience. Of those, maybe the seven since college (or the first five or so getting established if no school), were reasonably high earning. You still had to sustain yourself during those years, even at some minimal level. Even if you grossed $100k each of those years, that's only a million dollars. Not counting investment gains or taxes, it's highly unlikely someone in their 20s is going to reach a nest egg of a million. That million is unlikely to do them over the next forty years or so.

The only way I see this working is with people who have a substantial inheritance or have way, way above average incomes in their 20s
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Old 04-10-2016, 08:55 AM
 
Location: Central IL
15,233 posts, read 8,523,201 times
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ANYTHING is possible...if you have a trust fund! Or sell a company for 10 mill. Or not REALLY retire...but call it retiring.

Amazing how at the same time we read that no one will EVER be able to retire in the future yet it's possible to retire in your 20's. Neither of those scenarios apply to 90% of the people on here so not wasting my time.
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