Anyone here planning to retire before 40 like these people?

I got 30k in student loans and 20k on the car. I'm pretty much right where that guy was. But I definitely want to be done working by 40 if i can. 

Right now I'm just not making that 85k a year that the guy in the article was boosted to. It's pretty high for working class. I feel like once you edge up toward the 100k mark, it's up to you whether you want to be far more wealthy or live in your means. I personally would rather start my own ventures.. word to Dame. and keep working to retire early still... but with a lot more cash flow. So no, I wouldn't retire at 40 if im still only middle class. Once my cash can sustain upper middle class/ luxury living, i could be satisfied with retirement.

but i'm putting 5% thats matched and another 2% roth into retirement accounts.

then all my spare change goes to accorns investments which is really just an expensive savings until i get enough money in there to pay dividends. (I figure i would've spent the fee money on frivolous stuff anyway.)

Soon as I can get more gainful employment i will definitely be aggressively paying things down.

Still gotta keep in mind though... You can't take it with you so it is important to live while you can. I'm sometimes worry that I'm sacrificing these years only for the chance of seeing the full potential of tomorrow which isn't promised, but can't stop won't stop mentality is dominant.
 
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DLee23 said:
 
I got 30k in student loans and 20k on the car. I'm pretty much right where that guy was. But I definitely want to be done working by 40 if i can. 

Right now I'm just not making that 85k a year that the guy in the article was boosted to. It's pretty high for working class. I feel like once you edge up toward the 100k mark, it's up to you whether you want to be far more wealthy or live in your means. I personally would rather start my own ventures.. word to Dame. and keep working to retire early still... but with a lot more cash flow. So no, I wouldn't retire at 40 if im still only middle class. Once my cash can sustain upper middle class/ luxury living, i could be satisfied with retirement.

but i'm putting 5% thats matched and another 2% roth into retirement accounts.

then all my spare change goes to accorns investments which is really just an expensive savings until i get enough money in there to pay dividends. (I figure i would've spent the fee money on frivolous stuff anyway.)

Soon as I can get more gainful employment i will definitely be aggressively paying things down.

Still gotta keep in mind though... You can't take it with you so it is important to live while you can. I'm sometimes worry that I'm sacrificing these years only for the chance of seeing the full potential of tomorrow which isn't promised, but can't stop won't stop mentality is dominant.
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You're lucky you work at a place that does matching 401k, a lot of places don't.  You don't think $1 million saved will be enough for you to retire?
 
millenial said:
 
You're lucky you work at a place that does matching 401k, a lot of places don't.  You don't think $1 million saved will be enough for you to retire?
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maybe at 40 it would be.

At 23, I have a lot of wants and figured my get out the game number was between 4 and 8M for the rest of my life wthout working. Obvious thats with the assumption I live another 40 years
 
DLee23 said:
 
maybe at 40 it would be.

At 23, I have a lot of wants and figured my get out the game number was between 4 and 8M for the rest of my life wthout working. Obvious thats with the assumption I live another 40 years
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Big difference between 4 and 8 mil, also a very difficult number to reach before 40.  You'll probably need to go entrepreneur route for that, not that likely climbing the corporate ladder
 
im not gonna be done with medical school till 33, so not gonna happen
probably work until my 70's or so
 
millenial said:
Big difference between 4 and 8 mil, also a very difficult number to reach before 40.  You'll probably need to go entrepreneur route for that, not that likely climbing the corporate ladder
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Yep. Gonna start a biz
 
Haven't read the article yet. But when I was 19 I wanted to retire at 30. Still do, but it won't be happening. :smh:
 
Easy to retire early.

-Pay off your house

-Have a new car

-Save close to 100k

You save alot by not paying rent or mortage. You can then work  a part-time job that pays well

So its semi retirement but just as good

Say if you work part time 3 days a week 30 hours at $15 hour(could be more like $20 hour), your bringing home $1600 a month after taxes.

No bills beside utilities ,your good! especially with 100k in bank. Start working on your own business while you work part time or investments

Now most people would say $1600 that is nothing. But most people dont even have that to spend working fulltime  60k a year after they pay rent/mortage, car note/ car insurance

$1600-$2000 a month is good considering no rent mortage car note. Of course try to increase your income doing other side hustles since you have lots of free time, you can even dump 4k a year out of your 100k savings for whatever

When you get old old, 65 or so get your Social Security checks which will be depending on how much your work an extra 2k a month or so

people to caught up in the rat race it even funny.

My mom got a promotion/raise/ first thing she did was move to a bigger house and new car.. SMH

Live a happy stress free love
 
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Superb said:
 
Easy to retire early.

-Pay off your house

-Have a new car

-Save close to 100k

You save alot by not paying rent or mortage. You can then work  a part-time job that pays well

So its semi retirement but just as good

Say if you work part time 3 days a week 30 hours at $15 hour(could be more like $20 hour), your bringing home $1600 a month after taxes.

No bills beside utilities ,your good! especially with 100k in bank. Start working on your own business while you work part time or investments

Now most people would say $1600 that is nothing. But most people dont even have that to spend working fulltime  60k a year after they pay rent/mortage, car note/ car insurance

$1600-$2000 a month is good considering no rent mortage car note. Of course try to increase your income doing other side hustles since you have lots of free time, you can even dump 4k a year out of your 100k savings for whatever

When you get old old, 65 or so get your Social Security checks which will be depending on how much your work an extra 2k a month or so

people to caught up in the rat race it even funny.

My mom got a promotion/raise/ first thing she did was move to a bigger house and new car.. SMH

Live a happy stress free love
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Yeah but this is more so about being retired completely and traveling and living somewhere else in the world and just not working at all
 
millenial said:
 
Yeah but this is more so about being retired completely and traveling and living somewhere else in the world and just not working at all
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That aint going to work with nobody. People are living a dream if they think they can do that

If you aint hit the lottery or have a trust fund or something it isnt happening

Now doing what I said above you can travel alot

Everybody works some sort of way. As rich as bill gates and steve jobs and even the new apple ceo and facebook ceo are, they still come to work everyday even though they can retire easily. Now they make take a week off or 2 weeks off when needed to travel but they still at work daily
 
I am watching my mom go crazy after retiring, she has money but is bored out of her mind because she has too much time. Traveling is her only outlet and i think shes getting bored of that too. Tbh i dont want to retire earlier than 50.
 
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There's no way those 2 couples will stay retired forever.  It makes no sense.  All they did was cut down their expenses through their lifestyle.  So they are walking at home to places, but will ride the 'bus' or 'public transport' in another country?  Doesn't matter how much you gross, stopping your cash flow that early by just saving and having a baby on the way makes no sense.  Make it seem so easy to just pay off all that debt so quick. LOLZ

THere's gots to be other sources of income.
 
Retiring early is overrated.

And $1M is not enough to retire famb. :rofl:

Especially at 40
 
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