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Hoping there will be an article about a couple who retired in their 30's that either worked at Wal-Mart, Home Depot, or Applebee's. Seems that only Engineers can retire in their 30's.
Well, yeah, I mean how are you going to retire when you've barely worked unless you have a trust fund, had a trust fund, won the lottery, or worked an extremely high paying job and put aside most of your cash? Heck in a lot of career paths, that's not possible even with incredibly high incomes. One of my best friends is a radiologist, he makes $465K per year in a no income tax state, and he's up for promotion to $625K or so per year this coming year, but he just started working about two years ago for that kind of money and he's 35 this January. The rest of the time was spent in med school barely scraping by and bouncing from city to city for each element of becoming a radiologist. I don't know his student loan situation, I know his dad is a doctor so he didn't pay for undergrad or take out student loans for that, but I assume he had student loans after graduating from undergrad so he is just starting to put aside some real money. He still couldn't retire in his 30s, though, not realistically. Maybe at 45 if he badly wanted to be done with it.
Engineers often don't need as much schooling, some only need a basic college degree, so I guess if they hit the work force at 22, then retiring at 39 would be possible but still challenging.
i spent the last 15 years of my career as a sales engineer designing and selling custom control panels for the water pumping stations ,sewage treatment plants and factory automation industry . in retirement i teach motor controls and variable frequency drives one day a week for local distributors . .
i never had a degree , i just used my basic control knowledge i learned as an hvac tech 40 years ago and kept morphing in to new areas .
it was all learned on the job and via factory schools .
med school isn't for the FIRE crowd, the late start means they won't fire, the loan debt means they won't be net neutral until their 40s, and they plain don't want to spend 12+ years after undergrad studying for a job that they work 10 years and call it quits
I don't see the problem of hitting FI in their late 30s, because FI is what they determine their own costs to be, the big issue with the FIRE movement I see is lack of old age planning, they plan their FIRE number based on their current younger lifestyle, i.e. people are less likely to get sick, can bounce back from injuries, more willing to put up with discomforts... and when they RE, they lock in that lifestyle.
being FI is fine, taking the plunge to RE isn't a good idea. they should be FI with a side income so they have room to adjust as they get older. all the successful fire bloggers do this with the online income, something they don't mention to their fire followers
ask MMM how happy he is with his fire live now that he is divorced, he might be fire, but it is less likely to be as fulfilling. something he didn't plan on when starting FIRE, no it may not have caused the divorce, things happen in life outside their control. What if he was like the other fire blogger, that fired on his half of the income and the wife had her half? neither would be FIREd and would have a decade of unemployment history
I am in my late 20s and have the FI part down but I have no plans of RE. I'd go crazy, traveling is fun but I'm pretty happy doing it just a couple times a year. I get tired when I'm abroad for longer than a couple weeks as it is. If I had a SO that was around me 24/7 I'd probably get tired pretty quickly. Since I have no plans of RE I can be more aggressive when it comes to investing, going for growth instead of just income. Call me crazy but I'd rather be intellectually stimulated and live a more luxurious life.
med school isn't for the FIRE crowd, the late start means they won't fire, the loan debt means they won't be net neutral until their 40s, and they plain don't want to spend 12+ years after undergrad studying for a job that they work 10 years and call it quits
I don't see the problem of hitting FI in their late 30s, because FI is what they determine their own costs to be, the big issue with the FIRE movement I see is lack of old age planning, they plan their FIRE number based on their current younger lifestyle, i.e. people are less likely to get sick, can bounce back from injuries, more willing to put up with discomforts... and when they RE, they lock in that lifestyle.
being FI is fine, taking the plunge to RE isn't a good idea. they should be FI with a side income so they have room to adjust as they get older. all the successful fire bloggers do this with the online income, something they don't mention to their fire followers
ask MMM how happy he is with his fire live now that he is divorced, he might be fire, but it is less likely to be as fulfilling. something he didn't plan on when starting FIRE, no it may not have caused the divorce, things happen in life outside their control. What if he was like the other fire blogger, that fired on his half of the income and the wife had her half? neither would be FIREd and would have a decade of unemployment history
Oh wow... I just looked it up... I don't know what to say.. I guess he's a mere mortal like the rest of us?
He has a strong personality and probably stubborn as hell so I can't say I'm shocked. But I don't think it fundamentally challenges his personal finance advice and achievement. Maybe he just went too far with it.
I'm not much of a believe in anything, but sacred texts and old philosophers' writings the world over tend to be filled with good life skills advice.
The article doesn't go into the details. However, I'd like to know how this couple lived their lives to save enough to retire on.
Sure, you can retire in your 30s if your combined salary is $135,000 and you live like a pauper for several years. Few people would be willing to do that though.
Hoping there will be an article about a couple who retired in their 30's that either worked at Wal-Mart, Home Depot, or Applebee's. Seems that only Engineers can retire in their 30's.
Lol, because you have to make actual money to retire so early, if at all. Low wage jobs will not provide such funds to do so.
Quote:
Originally Posted by mathjak107
i spent the last 15 years of my career as a sales engineer designing and selling custom control panels for the water pumping stations ,sewage treatment plants and factory automation industry . in retirement i teach motor controls and variable frequency drives one day a week for local distributors . .
i never had a degree , i just used my basic control knowledge i learned as an hvac tech 40 years ago and kept morphing in to new areas .
it was all learned on the job and via factory schools .
Forty years ago the entry barrier was low for those things, and areas like boilers which now days, they will not even look at you unless you have a degree.
Oh wow... I just looked it up... I don't know what to say.. I guess he's a mere mortal like the rest of us?
He has a strong personality and probably stubborn as hell so I can't say I'm shocked. But I don't think it fundamentally challenges his personal finance advice and achievement. Maybe he just went too far with it.
With the hundreds of thousands he makes off his blog/website alone each year (I hear it's as high as $300k/year), I'm not so sure he's hurting that much with the divorce!
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