Dude retired at 33.

N1AK

Radiantsoul wrote: »

Often more so in the skill they claim to have(many claim to teach "attitudes" rather than the specific skills necessary. If you fail then it is not the teacher, but your lack of badassity or whatever else they call it.

I agree completely. I see a lot of these gurus as a less corrupt version of the people who sell the "Freeman of the Land" illusion while not practising it themselves. Pick an issue you know a lot of people hate, then get rich saying you can solve it for them; they'll always be some people desperate enough that they will themselves into believing it's legit.

N1AK

Gadfium wrote: »

£10k ish over 18 months?
http://www.goflyuk.com/private-pilots-license-pplnppl/

£10k is viable, especially if you're willing to do it intensively, which someone retired could; the cost goes up considerably if you can only do an hour or two a week.

However, unless you seriously intended to learn to do it and then never use the skills again (really!?) then you've got considerable ongoing cost hiring an aircraft (or buying a share in one). There's also the cost of license reviews.

115K

You do get some right d***s on the Mr Money Mustache forum. They seem to consider themselves superior to the rest of US society because they are apparently so good at saving money and great at maths. It is like a cult in a way as they seem to criticise any unnecessary spending. I remember someone posted something like they hired a cleaner to clean their house instead of doing it themselves and it started a massive argument.

I can't work out if some of the posters on MMM are paid trolls or real people. I sometimes think the same about certain posters on here.:rotfl:

racing_blue

115K wrote: »

I can't work out if some of the posters on MMM are paid trolls or real people. I sometimes think the same about certain posters on here.:rotfl:

Does a paid troll dream about early retirement, so they can get all that pent-up wholesome, edifying stuff off their chest?

Radiantsoul

115K wrote: »

It is like a cult in a way as they seem to criticise any unnecessary spending. I remember someone posted something like they hired a cleaner to clean their house instead of doing it themselves and it started a massive argument.

I can't work out if some of the posters on MMM are paid trolls or real people. I sometimes think the same about certain posters on here.:rotfl:

Always feels like a cult. Although it is perhaps more a brand, a bit like Apple only even more powerful!

Goldiegirl

N1AK wrote: »

I don't find it hard to believe that someone who went into a high paying career straight from school/university, then spent virtually nothing for 10 years, and then wanted to spend almost nothing in retirement would be able to retire at that age. I simply question whether that's really a realistic situation for 99.8% of people and whether it's actually the best idea for the tiny fraction who it is realistic for.

I think you've hit the nail on the head here.

The vast majority of people start their careers at the bottom of the ladder, try to make some provision for the future, but want to live a little on the way. Then life gets in the way, they get married have a few kids, get made redundant a few times etc. Other people earn a moderate amount all their lives and can never build up a substantial fund.

I've tried to read some of these financial independence blogs, and can't get along with them at all. I just hate the cultish nature. These people must earn a fortune from these blogs - it's not early retirement as I understand it.

Also, I think it's alarming that these gurus are spawning a group of people who are obsessing about their finances, spending the best years of their lives with their heads stuck in a spreadsheet, forgetting to live in the moment.

You'll note from my signature that I am early retired, at the reasonably early age of 54. I've never been a high earner - so it's possible for the average person to achieve an early retirement.

I've never obsessed over my investments or put off living in the moment for living at some point in the future.

I was lucky enough to have a good final salary pension scheme, I made AVC payments, I made sure I saved some money each month (although not all of my money), I had a well timed redundancy at age 50, so I was able to enhance my pension as part of my redundancy package. Then I had nearly 5 years working part time, before I decided it was time to stop work altogether.

I did it my way, and I think it's best for everyone to find their own path, and not slavishly follow the gospels of bloggers like Mr Money Mustache.

115K

Goldiegirl wrote: »

Also, I think it's alarming that these gurus are spawning a group of people who are obsessing about their finances, spending the best years of their lives with their heads stuck in a spreadsheet, forgetting to live in the moment.

I know a lot of people don't take much stock in Myers-Briggs but did you see they did a poll on MMM and a lot of the members class themselves as INTJ which I think (partially) explains a lot of the views expressed on the forum.

Goldiegirl

C-dog wrote: »

Just checked my accounts and next week it'll be 2 years since I started properly saving towards FI. 45% towards the goal as of this morning. I'll take that.

Right now if I lived life to the max and spent every penny I earned, the invested money would still grow to a decent sum. I won't though.

Isn't this just exciting.....

C-dog wrote: »

I've explained my plans to friends a number of times and each time they look at me blankly and plan to live for today. Even my brother who knows every detail of my plan responds with "I could be dead in 4 years".

These are educated people, late 20s / early 30s and contribute 3%-6% to pensions to get the company match. But thats it. Some people just don't want to get it and you know what, thats fine.

I kind of side with your brother and friends.

Your friends are contributing to pensions, so they are making provision for their future, which is a good thing. Maybe, in a few years time, they'll increase their investments, who knows.

But they are young - they want to live NOW, and who can blame them - no one knows what's around the corner, so sometimes you have to take the chances when they arise.

For all you know, you might make all your plans for your fantastic post retirement life, and it'll never happen. You could get a life limiting illness, and you'd never see your plans come to fruition. Wouldn't you have regrets that you never seized life while you could?

You might have plans to cycle to school with your child - but don't spend it's entire pre-school,life with your head stuck in your spreadsheet and miss those precious first few years.

lalman

http://en.wikipedia.org/wiki/INTJ


I sound like one of these nutters... I mean cult followers... I mean...

blizeH

Goldiegirl wrote: »

I did it my way, and I think it's best for everyone to find their own path, and not slavishly follow the gospels of bloggers like Mr Money Mustache.

I've noticed a lot of hate for MMM and others like him, but he would tell you to do it 'your way' too. He'd possibly encourage you to question your spending habits a little, and the way you have your money invested, but he's not about huge sacrifices.

It could be something like not getting a new phone/tablet/computer every year, or buying a second hand car instead of getting a new one on finance (or even ditching a car all together and cycling instead, if you're a multi car household) or it could be simply buying less stuff.

I enjoy holidays and going away different places, day trips or weekend breaks and the like, and we haven't cut our spending even slightly in this area (if anything we're spending more) - but we've made some huge savings in other areas that if I'm honest it's barely impacted us at all.

It's all about doing what works for you, but also being mindful that there is more to life than mindless consumerism and the idea that by spending more money you'll magically be happier.