25 year old.. How can I retire ASAP?
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Interesting topic this alright
If I had the passive income to replace my full time job I could put my time in well with my occupational hobbies as such, it would give me more time to do these too :)
If healthcare can be taken care of, there are lower cost places to live or partly live than the UK, which your UK property rented etc could help with income. I know a couple of people partly living abroad for a good part of the year and one between two countries outside the UK, they have apartments fully paid in the other countries. I have overseas property myself that is how I know them. Mine are paid out too, I know I could partly live in them for a large part of the year at a low cost and would bring a different lifestyle.
Work towards your goals and what you want out of life. Before my Father passed away, he never talked about I wish I worked more hours, he talked about life experiences. We need money to do these of course and to live, but aim for what makes you happy in life.
Good luck0 -
TheTracker wrote: »These are my favourite threads on MSE.
The righteous indignation of those who have worked hard their whole lives and see all other self funded options as morally questionable.
The sheer befuddlement of someone in their 60s about how someone in their 20s would want to retire in their 40s. As above, even claiming ownership of the word retirement. What you are doing is not retiring, it is being lazy.
Cultural norms are strong. You will get a formal education, a stable job, a partner of the opposite gender, married, put down a house deposit, contribute to a pension, work hard until your 60s, with children along the way.
Hogwash. Plan your life the way that makes you and your loved ones safe and happy.
What such people fail to realise is those who they claim are lazy are often the more ambitious in society. Investing in themselves, working with no corporate trampoline, creating new ways of making wealth. It is from my pursuit of efficiency (you can read laziness) that work has been optional for me not long after 40. No luck involved. You can quibble at perceived unfairness or make a moral judgment but to that I use the same word back - tough.
No befuddlement; when I was 20 I wanted to retire ASAP too:)
Guess what though? I live in the real world :rotfl:
The second bit ive bolded is what every single person does, do you think the guy that serves up your meal in a restuarant, (for example), doesnt do that within the context of his employment prospects.
Re-read the OP in case I had the wrong end of the stick....op wishes to not work and do something more fufilling instead.
Fine, possibly some clarity needed then; volunteering in some far off part of the world living a harsh and frugal life helping the less fortunate?
Possibly not, given OP is referring to "retirement".
BTW, no "ownership" of the word intended, just a sensible understanding of its definition.
Anyway, I suppose the country is full of people who resent the idea of contributing to society beyond renting out rooms, but if we all had the "what can society do for me" approach rather than "what can I do for society" that model would be unsustainable....someone has to do the work.
BTW, ive deliberately not made any mention of generational stereotypes in this thread; the post ive quoted reeks of assumptions towards the older generation.
Jealously; hardly....worked hard, lived well, will continue to do so, :rotfl
Finally,:) a big super duper round of applause on achieving what you have; dont you think many more people around these boards have chosen to continue working when they didnt have to, but didnt feel the need to boast about it!!?0 -
Summarises my view exactly.if we all had the "what can society do for me" approach rather than "what can I do for society" that model would be unsustainable....someone has to do the work.
The social contract on which we all depend is based on give-and-take. For example, working adults don't collectively fund state education because they are philanthropic, but because a highly skilled and productive future workforce is essential to the economic sustainability of the country.
We work to support ourselves and our families, and also to support or subsidise those that are very young, old or ill. We have all been the beneficiaries of social support in childhood, we will be again in old age, and we don't know when we will need to rely on others to support us should illness or disability strike.
This country was a very dark and scary place before we adopted a collectively funded system of education, healthcare and welfare, and that collective depends on a productive, contributing and industrious adult population. Our society would also be a much meaner and poorer place without the vast amount of effort and time that hundreds of thousands of volunteers selflessly devote to helping others in addition to, or after a lifetime of, working.
It's not a Millennial thing. Some parents within every generation manage to raise entitled offspring who are completely oblivious to their parents' and society's contribution to whatever they have achieved in young adulthood.
What is generational is an appreciation for the non-tangible: the difference between self-worth and self-respect, the role a productive life plays in well-being and contentment, how quickly adversity can turn gold to dust.
Jealous? Of what? Hands-up anyone over 55 who would wish to be a 20 or 30-something again?:eek:
Luckily for the rest of us selfish individualism is still a minority trait amongst people of all generations. Let's hope it stays that way.0 -
OP, I find that the trouble with working is almost never the job, but the people you have to work with. Could you apply for the same job but with a different firm somewhere? Hopefully somewhere where the staff are happy, enthusiastic and helpful?
That gave me a big laugh. Certainly there are some jobs where the people are the issue. I worked in one company with the following people:
A male engineer who would pick his nose, and whose feet stank.
The female Hungarian office manager would sing out loud, it was worse than a howling fox. If you were stupid enough to ask her to stop, you ended up being bullied for months. I was regularly insulted. The aggression was scary.
A male engineer was regularly on the phone to his wife many times a day. He!!!8217;d slam the phone down, shout !!!8220;f*** off!!!8221;, and !!!8220;f***ing c***!!!8221; or !!!8220;f***ing b*****!!!8221;. Several female staff members told me they found the language upsetting. He would often leave the office to go to his son!!!8217;s school to deal with issues, such as having to inject him with insulin. On several occasions his son had trashed the classroom, and the teacher refused to go back in.
A female QA person who was aggressive and rude. I lost track of the insults.
A female Ukrainian engineer who was rude and aggressive. Soon after I arrived she came in to find her Ethernet cable unplugged. Throughout the entire day she gave me dirty looks and aggression. I lost track of the number of times she was aggressive to me. I once gave her some home grown yellow beetroot to try and be friendly. She told me off because they were not clean enough and she said !!!8220;In Ukraine we give yellow beetroot to pigs!!!8221;. I once jokingly asked her if she learnt to dissassemble a machine gun at school. She replied saying !!!8220;Yes, we learnt to take apart and reassemble machine gun!!!8221;.
The company owner was a control freak. In a company of twenty people, she was the HR manager, the QA manager, the software manager, the sales manager, the payroll manager etc. Not surprisingly she did none of the roles well
However, the other people were incredibly nice. What a weird company. I was lucky to get out fairly quickly.0 -
OP, I find that the trouble with working is almost never the job, but the people you have to work with. Could you apply for the same job but with a different firm somewhere? Hopefully somewhere where the staff are happy, enthusiastic and helpful?
I've been super lucky as I've mostly worked with dedicated and genuinely nice people. My career took me from academic astronomy, to US Government labs, a large US defense contractor and finally to a medical school. I retired from there but after a few years began part time with a small startup. The type of work I do attracts people who enjoy the intellectual challenge rather than the money and that usually produces a feeling of team work and "esprit de corps."“So we beat on, boats against the current, borne back ceaselessly into the past.”0 -
No befuddlement; when I was 20 I wanted to retire ASAP too:)
Guess what though? I live in the real world :rotfl:
The second bit ive bolded is what every single person does, do you think the guy that serves up your meal in a restuarant, (for example), doesnt do that within the context of his employment prospects.
Re-read the OP in case I had the wrong end of the stick....op wishes to not work and do something more fufilling instead.
Fine, possibly some clarity needed then; volunteering in some far off part of the world living a harsh and frugal life helping the less fortunate?
Possibly not, given OP is referring to "retirement".
BTW, no "ownership" of the word intended, just a sensible understanding of its definition.
Anyway, I suppose the country is full of people who resent the idea of contributing to society beyond renting out rooms, but if we all had the "what can society do for me" approach rather than "what can I do for society" that model would be unsustainable....someone has to do the work.
BTW, ive deliberately not made any mention of generational stereotypes in this thread; the post ive quoted reeks of assumptions towards the older generation.
Jealously; hardly....worked hard, lived well, will continue to do so, :rotfl
Finally,:) a big super duper round of applause on achieving what you have; dont you think many more people around these boards have chosen to continue working when they didnt have to, but didnt feel the need to boast about it!!?
To clarify, I'm not looking to spend my retirement sat around on the sofa. I want to travel, volunteer abroad, take up a few hobbies, maybe some casual work that doesn't pay much but would be enjoyable - basically a life that doesn't revolve around being stuck into a 9-5 life until I'm 65.
I think its sad that I only get one life, and I'm destined to spend most of it sat in an office. I will admit I do have a lazy streak, I don't have any qualifications and I'm not in for a crazily successful career.
I just want enough cash to be able to kick back and relax in a nice home, with enough funds to do what I want to do.0 -
thenewcomer wrote: »i was wondering the same too. why did OP open a thread on how to retire early if his living cost is only 1250 and he is earning 1100 passively.....
My living costs are based on my current situation, I expect in the future I'll need more than £1250 a month to support a family. Also, that passive income comes from letting rooms in my home. I don't want to be doing this into my 30's!0 -
To clarify, I'm not looking to spend my retirement sat around on the sofa. I want to travel, volunteer abroad, take up a few hobbies, maybe some casual work that doesn't pay much but would be enjoyable - basically a life that doesn't revolve around being stuck into a 9-5 life until I'm 65.
I think its sad that I only get one life, and I'm destined to spend most of it sat in an office. I will admit I do have a lazy streak, I don't have any qualifications and I'm not in for a crazily successful career.
I just want enough cash to be able to kick back and relax in a nice home, with enough funds to do what I want to do.
I get where you’re coming from. You’re in a nice position now to be able to setup a business or two and build that up. You won’t have to work 9-5, you’d have the freedom to do what you want when you want. That’s not to say it won’t be hard work depending on how successful you’d want that business to be but if it’s something you’re passionate about, then you’d enjoy doing it. You need something to keep the pennies rolling in, especially if you don’t continue with the letting out of rooms.0 -
the OP is right to purse what he wants without other people's judgement.
The thing I would say to the OP, as you grow older will you want to host lodgers in your house etc. etc.? You may wish to have your own independence. If I had 500k saved the last thing I would do is dealing with lodgers in my own home. Granted this is subjective.
The other point is I know people who saved loads to have a nice life in their early fifties, they got ill and died before then. I used to plan life in a similar way to you and like you have a decent pile to rely on but in the past couple of years I am spending more than I used to because of what I have just said.
Again all very subjective.0 -
the OP is right to purse what he wants without other people's judgement.
The thing I would say to the OP, as you grow older will you want to host lodgers in your house etc. etc.? You may wish to have your own independence. If I had 500k saved the last thing I would do is dealing with lodgers in my own home. Granted this is subjective.
The other point is I know people who saved loads to have a nice life in their early fifties, they got ill and died before then. I used to plan life in a similar way to you and like you have a decent pile to rely on but in the past couple of years I am spending more than I used to because of what I have just said.
Again all very subjective.
totally agree. life is way too short to just work for money. Its always about balance, and its highly subjective as everyone wants different things in life. we have more choices then we did a hundred years ago. well some of us do anyway and it seems the OP does. take advantage of it!0
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