Enough money to retire at 26?

Jonesy88

I'm not sure how real this thread but what an interesting/fun debate.

Here's my viewpoint (also aged 26)

My life has changed so much in the past 5 years, I couldn't even begin to predict the next 50. I want to move forward and achieve things with my life, not stand still.
To retire now - what would I do? Who would I interact with? What a lonely and boring existence. Depressing to contemplate actually.

Also OP your answer for the affordability questions seems to be "interest is always going to be greater than inflation". I think you fail to understand the reduction in purchasing power you will have in the future. You may be able to get a bank account that pays above inflation but what about the items you are purchasing. (Like the train example)

So OP, please consult your research to find out the level of inflation of the last 10 years. Then please can you research the level gas prices has increased in the same 10 year period. Energy consumption has been built into your budget so I presume you factored this in?

purpleshoes_2

Having read some of the OP's other threads on here I'm going to say that I don't believe half of what's written in the opening post is true.

Mojisola

Jonesy88 wrote: »

To retire now - what would I do? Who would I interact with? What a lonely and boring existence. Depressing to contemplate actually.

That's a fair description of the OP's current life.

edinburghlad

Reading through this thread and looking at the original posts authors profile its seems to me that this is totally false. For example he posted in sep 14 that he is still living at home and his parents refer to him as "him". Another post he states he hS a job delivering leaflets for £4 a hour.....

I'm 27 and there is no way on earth I would consider retiring at this age. Life has only started to get interesting with my job, family, friends ect.

purpleshoes_2

This is what someone else posted on another of the OP's threads
The other day they were going to sell you 25% of the house for £10,000, now they're selling you 100% for £200,000?

Quote:
Originally Posted by berbastrike
Long story, but basically, me and my parents have agreed they will give me 25% of the house for £10k

How do we go about this? Have no idea

The other day you were retiring with your mortgage paid off and £300,000 in the bank.

http://forums.moneysavingexpert.com/....php?t=5079330

Your wasting everyone's time with your repeated lies!! One minute you're 24, the next minute you're 26. One minute this, one minute that. If I wasn't tired and hadn't seen others play your game I would go through and post more of your absurdities.

System

peachyprice wrote: »

berbastrike wrote: »

Yes, and they would last you 2-3 years.

I wasn't going to bother replying to what appears to be a trolling exercise but I couldn't resist...

At midnight the other night I did two loads of stinking washing for my neighbour... because her currys washing machine had gone wrong. AGAIN. Fourth or fifth time in 4 years and each time she has to use the extended warranty she purchased.

If you want this cheap tat at least pay for the extended warranty.

I had a cheap washing machine once, £160 from Argos, it went wrong within about 2 years, couldn't be fixed, and only after it wore holes in some new t-shirts!

dating_thoughts

berbastrike wrote: »

Mortgage paid off and will have £300k saved which is around £7.5k per year until I reach state pension age.

Yearly budget - £7500

To spend:
Council tax = £1000
Food = £1000
Gas Elec = £300
TV Licence = £150
NI (so I get full state pension) = £150

Broadband = £150
Clothes = £300

New car every 10 years = £500 (per year)
Car Ins = £200
Car Repairs = £250

Gadgets/computer/tech = £250


Total necessary spend = £4250

Which leaves £3250 for luxuries/treats




Do you think this plan is depressing, unrealistic, or a good idea? Just looking for some thoughts. Should I follow the plan, is it enough to not get bored each day.

Interesting idea. The one thing to not forget which may have already been mentioned is inflation. This has a big effect over the long term. To put this into perspective I believe the average salary in the UK when u reach about 65 will be £80k. That is if average salary now is £25k and then 40years at 3% salary rise is about £80k. The cost of stuff is likely to be of a similar order of magnitude as salary rises. So don't forget to incorporate this into your income planning

blondieisaband

Just a really tedious troll. And a bad one at that. Ignore

Mojisola

I get the feeling he's a rather sad Walter Mitty character.

pinpin

OK, so it's likely not remotely true, but still an interesting debate.

In the (fake?) OP's situation, I'd go for it! (retire)
the bliss of never having to work would be worth the sacrifices. (and i'm in my 20's)