Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Child support could easily take a bite out of your income. Health issues are always possible but an ever increasing risk depending on your diet and lifestyle. Lifestyle creep, subpar investment returns, down turns in real estate markets, job loss by your SO there’s a ton of possible issues
So essentially the stuff that could get anyone, right?
Ok, so now you are saying they didn’t, rather than couldn’t.
Theoretically, sure some could. I know two guys who sold a company to a major social networking site when they were young, they got a multi-million dollar payout. They easily could have stopped working. The kind of personality that motivates a person to earn a lot early on tends to be the kind of personality that keeps a person from not doing anything to make money for decades. That's one of the reasons threads like this aren't overly useful without an explanation as to how the initial money was made.
Self made, none (none who didn't have a way to make money, or didn't end up going back to work at some point). Anyone who made enough to retire early was driven by more than money, and had no interest in stopping working. People driven enough that they earn a lot of money early in life are driven by more than money, in my experience. Money is a measuring stick for success, it's not often the goal in and of itself.
I've been in the technology side of investment management most of my career, I've worked alongside dozens of financial advisers/planners/economists/etc. There are people who don't really invest, or just live more day to day with little money, but those plans tend to fall apart without relying heavily on some sort of assistance the older people get.
And the things that motivate me in life go beyond money. Hence why I’m not under the illusion that I can spend my way to happiness. However, I know life is partially a business so I decided to handle the business stuff early with a sound mind and body. Now eddiehaskell Inc. can be set to autopilot while I call the shots about what I do for the next 50+ years God willing.
And the things that motivate me in life go beyond money. Hence why I’m not under the illusion that I can spend my way to happiness. However, I know life is partially a business so I decided to handle the business stuff early with a sound mind and body. Now eddiehaskell Inc. can be set to autopilot while I call the shots about what I do for the next 50+ years God willing.
Until you say specifically how you made that money (and how much you made, given you change that answer), there's no reason to take you seriously. So, where specifically did the initial amount you claim to have retired on come from?
Theoretically, sure some could. I know two guys who sold a company to a major social networking site when they were young, they got a multi-million dollar payout. They easily could have stopped working. The kind of personality that motivates a person to earn a lot early on tends to be the kind of personality that keeps a person from not doing anything to make money for decades. That's one of the reasons threads like this aren't overly useful without an explanation as to how the initial money was made.
Fair enough, I tend to agree.
I suspect those who get inheritances young tend to be like OP (not saying that was his situation).
I find it ironic that the older posters who have gotten to the finish line because of inheritances are not so vilified. Perhaps because there are many more of them than we thought?
I find it ironic that the older posters who have gotten to the finish line because of inheritances are not so vilified. Perhaps because there are many more of them than we thought?
Because they tend not to be so full of themselves and post about how brilliant they are for living a life of a spartan?
I suspect those who get inheritances young tend to be like OP (not saying that was his situation).
I find it ironic that the older posters who have gotten to the finish line because of inheritances are not so vilified. Perhaps because there are many more of them than we thought?
I don't have a problem with people living off of inheritances. I think people tend to have problems with people who lived off of inheritances trying to give people advise on what to do with money. If a person didn't work for it, and doesn't appreciate what it takes to earn money, no one is going to want them to give financial advise.
That's one of the reasons no one will ever take OP seriously until he explains how he made the money he claims to have. He might be telling the truth in everything, and might have incredible advise, but without an explanation of how the money was made, this thread is just a theoretical thought-experiment, which isn't really useful. If he IS telling the truth, though and really wants to give advise, he'd quickly say how he made his money so that people start to really take these threads seriously.
And the things that motivate me in life go beyond money. Hence why I’m not under the illusion that I can spend my way to happiness. However, I know life is partially a business so I decided to handle the business stuff early with a sound mind and body. Now eddiehaskell Inc. can be set to autopilot while I call the shots about what I do for the next 50+ years God willing.
You keep saying that, but we all know your HOUSEHOLD annual spending exceeds the 10k you keep harping on.
Until you say specifically how you made that money (and how much you made, given you change that answer), there's no reason to take you seriously. So, where specifically did the initial amount you claim to have retired on come from?
I can assume you'll refuse to answer, correct?
Why would anyone need to know those details. If someone approaches you with X amount of money and goal to be retired - how the heck would it matter where the money came from? Wouldn’t you give everyone with the exact same money/spending/goal the same advice?
Heck, let’s say someone wins the $1M lottery at 25 and wants to stay retired for life. How would your advice for them change because they won the lottery?
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
