Dude retired at 33.

Archi_Bald

If he is retired, why is he running a blog with ads plastered all over it? Why doesn't he just say he changed from being employed to being self-employed? Why does his wife still work?

Broken_Biscuits

its quite simple maths. If by living off 25k a year you make enough to draw down 25k a year and not touch the capital you are ready to retire. Pick an amount you want to live off and save 25 times that for a 4% draw down. the less you are happy living on, the less you need.

gadgetmind

Broken_Biscuits wrote: »

Pick an amount you want to live off and save 25 times that for a 4% draw down

I'm at the 25x, but can't yet access the bulk of my money as it's in a pension. I'm 3 years off age 55 but have no sodding clue at what age I'll be able to access my money nor at what rate.

NoMore

Isn't this what mr money moustache did ?

http://www.mrmoneymustache.com/2013/02/22/getting-rich-from-zero-to-hero-in-one-blog-post/

A popular blog mentioned occasionally on here.

Disclaimer: I haven't researched the amounts Mr MM retired on, or his methods just aware of the blog tangentially.

Broken_Biscuits

if you start thinking about early retirement young enough then you wouldn't put the majority of your wealth in an investment vehicle that you couldn't access 5/10/20 or in this guys case 30 years down after the date you have in mind to retire.

Archi_Bald

NoMore wrote: »

Isn't this what mr money moustache did ?

Another example of a bloke running a blog with ads plastered all over it. And even got a forum.

Similar concepts have worked for other blokes. Set up website that earns you money at little effort. Create a popular forum so you are at the top of Google rankings. Done.

gallygirl

The whole point about Mr Money Mustache - and presumably others - is not that they deprive themselves of anything they want, but they have thought really long and hard about what they really want from life. For example, MMM would genuinely prefer to cycle everywhere than drive and likes spending time in the wild rather than fancy restaurants and theme parks. Take that mindset and you need a lot less money.

His health insurance has very large deductibles as they have the capital to fund most medical care themselves.

Yes, he earns money from his blog now - and a very decent amount - but didn't factor that in to his original retirement plans.

A lot of people on his site are really going for it - taking in 2 or 3 lodgers, downsizing to very small places, no smart phones etc. Yet there isn't a feeling of deprivation - they are doing it with a goal and lifestyle in mind. It's all about mindful spending and choices rather than blindly following what others do. Getting rid of 'stuff' - mentally and physically - has a lot of benefits!

atush

TheTracker wrote: »

The transcript link in post #3 explains his healthcare, including the information it costs 1k/month, and as his adult kids roll off the plan it will cater for his higher costs as an elderly bod.

My view is he is not really retired as long as his SO is working. Plenty of us have a stay at home SO who looks after the kids while we work. Is my SO "retired" because she has no need to ever work again and is currently a child carer? Perhaps he prefers to label himself as some superhero that retired early rather than "House Husband".

Transcript link? get real Material facts should be stated.

and yes as an unpaid child care provider he is working.

atush

gallygirl wrote: »

The whole point about Mr Money Mustache - and presumably others - is not that they deprive themselves of anything they want, but they have thought really long and hard about what they really want from life. For example, MMM would genuinely prefer to cycle everywhere than drive and likes spending time in the wild rather than fancy restaurants and theme parks. Take that mindset and you need a lot less money.

His health insurance has very large deductibles as they have the capital to fund most medical care themselves.

Yes, he earns money from his blog now - and a very decent amount - but didn't factor that in to his original retirement plans.

A lot of people on his site are really going for it - taking in 2 or 3 lodgers, downsizing to very small places, no smart phones etc. Yet there isn't a feeling of deprivation - they are doing it with a goal and lifestyle in mind. It's all about mindful spending and choices rather than blindly following what others do. Getting rid of 'stuff' - mentally and physically - has a lot of benefits!

dont like to disagree wit you Gally, but there are limits. Esp as If I took my bike everywhere where I live I'd be dead already. Dangerous and too wet windy and cold.

Alot of people on his site are fanatics as he was. And so fanatical others with less extreme view cannot post.

there is money saving, and being wise and there is lunacy.

Mistermeaner

Balance is the order of the day I think, for me at least anyway.

Not being a slave to the material things is key - the happiness of material possession is fleeting, but experiences are the memorable things that stay with you forever; generally these do cost money but also time.

Had this chat with some guys in work yesterday, he's having a new kitchen fitted, I spent the weekend caving with my son. If we each got hit by a bus this week I'll think how glad I am I spent my last weekend with boy. Will he be thinking he's so pleased he got that new kitchen?