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Or they might have kept getting in trouble and ended up in prison. Personally, I'd rather pay for education than incarceration.
Personally, I'd rather the parent assume responsibility - given she's a skilled attorney - by staying in New York, staying in the rat race, and funding her children's college education herself.
Financial Samurai is a highly respected money blog written by "Sam" who worked his tail off (still does) and retired early. He's always been totally transparent about his assets, mistakes, etc in achieving his goal. I think he gives fairly good advice for young people.
I'm not yet retired but it's coming-----Next Year!
Those who are retired----active investors, pensioners, those just on SS Please share your thoughts about this latest post of Sam's.
I must be missing something. What is highly respectable about living in abject poverty?
Quote:
Originally Posted by cebuan
So it's not the homeless guy who is expensive. It is the regulatory/industrial complex. Full employment guaranteed by the bloat of needlesss workers to comply with government regulations. More Americans in the labor force now than in the 50s, despite automation, computerization and outsourcing. And more paper consumption despite digital data and the extinction of print media..
What a completely ridiculous statement. In 1950 the population of the U.S. was 151 million; today it is more than double that amount. In next year's census, the population is projected to be over 332 million. That's an increase of 181 million people. And you're surprised that there are more people in the workforce now than 60+ years ago?
I read the article and thought the guy was a little shallow.
Still, if you want to not work, you can. Not very many of us can "not work" and live in San Fransisco while keeping our wits about us, but there are other places.
The first thing our new retiree needs is a place to live. And I mean a paid for place to live. Free and clear forever. And that paid for place to live needs to be in an area where property taxes and expenses are LOW!
There are lots of places around that fit that description. Lots of places in the South; I think you could do it in portions of Florida and probably in Texas.
If someone wants to roll the dice and stop working at a young age, maybe he should go for it. Just be advised I have a few friends who tried it, and I have never seen it work out.
Examples:
My brother: Bought a sailboat and drifted off at age 50. Now he is 72 and is stuck in Panama with no way of ever returning to America. He has no money and no place to go and he's too old to manage the sailboat.
Lindsay: He and his wife sailed away, too. They found they could not stay in the US because living on a sailboat is expensive and inconvenient. So they went to St Thomas and worked for a few years before his health began to deteriorate at age 62. Back in Texas, struggling and broke.
Jim: Left work early when his company bought him out. He forfeited the pension because his buy-out was upper 6 figures. That was in the mid nineties and the various recessions wiped out his fortune. Thank God he has a home paid for.
I read the article and thought the guy was a little shallow.
Consider his target audience: Dreamers. Now it all starts to make sense.
Quote:
If someone wants to roll the dice and stop working at a young age, maybe he should go for it. Just be advised I have a few friends who tried it, and I have never seen it work out.
Examples:
My brother: Bought a sailboat and drifted off at age 50. Now he is 72 and is stuck in Panama with no way of ever returning to America. He has no money and no place to go and he's too old to manage the sailboat.
Lindsay: He and his wife sailed away, too. They found they could not stay in the US because living on a sailboat is expensive and inconvenient. So they went to St Thomas and worked for a few years before his health began to deteriorate at age 62. Back in Texas, struggling and broke.
Jim: Left work early when his company bought him out. He forfeited the pension because his buy-out was upper 6 figures. That was in the mid nineties and the various recessions wiped out his fortune. Thank God he has a home paid for.
It's possible that the purpose of some peoples' lives is to serve as a warning to others.
It just so happens you know a disproportionate number of human warning signs.
Been watching the several you tube channels out there with people who voluntarily live in their car. They make it sound pretty appealing.
Pros:
- don't have to clean your house.
- don't have to do house maintenance
- way more money on a monthly basis.
- get to travel
- no one dropping by unannounced.
- an incentive not to buy things you don't need.
Just get a ikea twin mattress and fold down your seats and you have a bedroom.
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