Cessnaflyer
Wooooooooooooooooooooooooooooooo
The last year or so I've been researching heavily on the Financial Independence/Retire Early. It's completely changed my mindset of life and I actually think I have a chance of 'retiring' by 45.
Anyone on a FI/RE path?
- Thread starter Cessnaflyer
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Cessnaflyer
Wooooooooooooooooooooooooooooooo
I'm sticking to one. I need to youtube some at home vasectomy procedures.
that seems more like a LiveLeak topic
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wheelsup
Well-Known Member
Yes
Our monthly spend outside mortgage is an extremely comfortable 3k, with it's 4k (some folks can do under 2k monthly which for us would be basically bare bones sitting at home twiddling thumbs)
Using the 4% rule we could’ve retired at age 35
That is with an avg annual household income under 100k since graduating college
It’s very liberating
Keep expenses low, housing and transportation are #1 budget killers. The key is stuffing as much as you can into savings/retirement at a young age and let compounding do its thing.
Years ago the retired were buying the BMWs, today they are leased by even young folks.
Yep I get it, YOLO, but I’d rather be driving my 20 year old well maintained car knowing I don’t have to work another day than drive a new car.
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wheelsup
Well-Known Member
1 in 10 US households are
Cessnaflyer
Wooooooooooooooooooooooooooooooo
I wish that is all it would take.
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Deleted member 27505
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Lol, that routine was from the mid '70s, so it meant more back then.
The few reports I've seen (Cap Gemini, Knight) suggest the number today is more like 1 in 100. It's a tricky nut to crack because there are no hard definitions and/or everyone measures differently: Households or High Net Worth Individuals? Primary Residence value included or not? Net Worth or Working Capital? That sort of thing. But, yeah, there certainly are quite a few millionaires these days. It doesn't really even mean much anymore. But it doesn't suck, either.
wheelsup
Well-Known Member
10.8 million households have $1m or more in investable assets outside primary residence.Lol, that routine was from the mid '70s, so it meant more back then.9
The few reports I've seen (Cap Gemini, Knight) suggest the number today is more like 1 in 100. It's a tricky nut to crack because there are no hard definitions and/or everyone measures differently: Households or High Net Worth Individuals? Primary Residence value included or not? Net Worth or Working Capital? That sort of thing. But, yeah, there certainly are quite a few millionaires these days. It doesn't really even mean much anymore. But it doesn't suck, either.
It’s about 1:11.5 households across the US, my math was a little off I was using rounded #’s.
Very achievable even in ones early years on not a super high household income. The trick is to keep costs low and pour everything you can into investments. Buy things that make you money not cost you money.
Pilots have one of the best professions for it because we can live very, very cheaply if desired. No need for expensive professional clothes, can feasibly live without a car (Uber to work and back and live close by), 401k contributions even at the commuter level exceed anything in even the better corporate jobs, the list goes on...
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pnwchief22
Well-Known Member
Set realistic benchmarks for your investments to reach and track them online. I like Van(121.500) and track expenses in an old Intuit software product running on my old 486 computer. Zero interest from Home Depot and Ford makes shopping for a toy from time to time ok, just follow the terms and pain free retirement is yours.
NovemberEcho
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z987k
Well-Known Member
They're generally 100% covered under any insurance plan.
ComplexHiAv8r
Well-Known Member
I was then I got hired at OO.....
Screaming_Emu
Well-Known Member
I'd almost be willing to bet (but too scared to look) that there's probably a subreddit for that.
Cessnaflyer
Wooooooooooooooooooooooooooooooo
What made you go back to a job? I don’t think I’ll ever retire fully until I am unable to move anymore.
ComplexHiAv8r
Well-Known Member
I was on track to retire at 55 but so burned out on Engineering and running my own business. Looked going back to corporate world engineering and wouldn’t make much money. Decided the 121 route. I’m still smiling and I’m at OO with all its fun. Still hope out by 60 if I can figure how to afford the gap of insurance to 65.
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Cessnaflyer
Wooooooooooooooooooooooooooooooo
Very cool! What type of engineering did you do?
Cessnaflyer
Wooooooooooooooooooooooooooooooo
Very cool! What type of engineering did you do?
ComplexHiAv8r
Well-Known Member
Mostly manufacturing electrical control. Robotics and welding, pharmaceutical, plastic molding, as well as high power (up to 23,000 volts).
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Bear
Well-Known Member
How to acheive $1 million or more for retirement.
— How do I retire with $1 million?
CNN Money
— Start with $10,000 and retire a millionaire
Marketwatch
— Do you need $1 million to retire? Maybe.
CNN Money