http://www.mrmoneymustache.com/

this is kind of my goal. i hope to leave as a sixth year with 800k saved and then take an easy part time gig and focus on hobbies and raising babbies.

currently a second year with a 350k networth (my wife makes 90k so we can save my entire salary).

(http://www.autoadmit.com/thread.php?thread_id=2403225&forum_id=2#24354352)

don't like people in this mould. they are disingenuous fags because there is nothing more sustainable or commendable about collecting investment income vs. the life of the average paycheck to paycheck american

(http://www.autoadmit.com/thread.php?thread_id=2403225&forum_id=2#24354891)

what the fuck. if that's all you want to live on then you should've just been working as a bartender slaying puss and living with roommates for the best years of your life instead of doing biglaw so that you can "retire" at 33 to a meager existence.

this site is so full of aspies.

(http://www.autoadmit.com/thread.php?thread_id=2403225&forum_id=2#24354421)

In which case you lose security and freedom.

(http://www.autoadmit.com/thread.php?thread_id=2403225&forum_id=2#24354884)

Triple threat, man, your kids are going to love it

(http://www.autoadmit.com/thread.php?thread_id=2403225&forum_id=2#24354758)

Even with Obamacare, historically health insurance premiums have increased much faster than inflation. There is a real danger that premiums increase so much that you can't afford your premiums and have enough money left over to live comfortably. I would advise anyone who "retires" in their 30's to try to find a part-time job if only for the health benefits. Or you just move overseas somewhere with free health care. Although that's also not an ideal solution, since most countries with a low COL have shit health care systems unless you are willing to pay $$$$.

(http://www.autoadmit.com/thread.php?thread_id=2403225&forum_id=2#26016174)

No lifetime or annual limits under Obamacare. Even the reptiles have stated their desire to keep this provision.

Out of pocket max is 6k per year (12k per family) under Obamacare. So if you get cancerpwned, the most you'll pay is 6k per year.

Also, many early retirees qualify for subsidies since subsidies don't take assets into account, only income. A family of four can earn up to 80k per year in investment income (i.e. 2% dividends on 2M) and still qualify for subsidies.

(http://www.autoadmit.com/thread.php?thread_id=2403225&forum_id=2#26017178)

Whether $1MM is enough to retire on in your 30s is another question. My vote would be no, for reasons others have already stated. Between inflation and healthcare costs, I don't think the income that can be earned on $1MM of principal can be expected to support you for 50 years (especially when you consider the fact that you're probably going to live through several major stock market crashes and possibly another Great Depression within that time). No matter how savvy an investor you are, you can't expect to go 50 years without having some years where you incur massive losses, and that's going to eat into your principal. I'm not saying it's impossible, but it's a roll of the dice.

(http://www.autoadmit.com/thread.php?thread_id=2403225&forum_id=2#26016280)

(http://www.autoadmit.com/thread.php?thread_id=2403225&forum_id=2#26018928)

(http://www.autoadmit.com/thread.php?thread_id=2403225&forum_id=2#26019015)

(http://www.autoadmit.com/thread.php?thread_id=2403225&forum_id=2#26019036)

As he sat, he saw a Brazilian fisherman rowing a small boat towards the shore having caught quite few big fish.

The businessman was impressed and asked the fisherman, “How long does it take you to catch so many fish?”

The fisherman replied, “Oh, just a short while.”

“Then why don’t you stay longer at sea and catch even more?” The businessman was astonished.

“This is enough to feed my whole family,” the fisherman said.

The businessman then asked, “So, what do you do for the rest of the day?”

The fisherman replied, “Well, I usually wake up early in the morning, go out to sea and catch a few fish, then go back and play with my kids. In the afternoon, I take a nap with my wife, and evening comes, I join my buddies in the village for a drink — we play guitar, sing and dance throughout the night.”

The businessman offered a suggestion to the fisherman.

“I am a PhD in business management. I could help you to become a more successful person. From now on, you should spend more time at sea and try to catch as many fish as possible. When you have saved enough money, you could buy a bigger boat and catch even more fish. Soon you will be able to afford to buy more boats, set up your own company, your own production plant for canned food and distribution network. By then, you will have moved out of this village and to Sao Paulo, where you can set up HQ to manage your other branches.”

The fisherman continues, “And after that?”

The businessman laughs heartily, “After that, you can live like a king in your own house, and when the time is right, you can go public and float your shares in the Stock Exchange, and you will be rich.”

The fisherman asks, “And after that?”

The businessman says, “After that, you can finally retire, you can move to a house by the fishing village, wake up early in the morning, catch a few fish, then return home to play with kids, have a nice afternoon nap with your wife, and when evening comes, you can join your buddies for a drink, play the guitar, sing and dance throughout the night!”

The fisherman was puzzled, “Isn’t that what I am doing now?”

(http://www.autoadmit.com/thread.php?thread_id=2403225&forum_id=2#26018983)

That said, even saving half of that could make it possible to retire abroad assuming you open some bar or other business to generate a little income to cover your expenses. You can get a SWEET apartment in a big city in Asia for around $500 a month so I mean your expenses abroad would literally go down 75%.

You could actually take the 500k, invest it decently, and end up with over 1m by the time you are in your 40's, simply by living in Asia or somewhere else cheap where your cost of living goes down a lot. Cost of living is what kills you. People focus too much on their intake when its outtake that matters.

(http://www.autoadmit.com/thread.php?thread_id=2403225&forum_id=2#26018962)

However, for the average law school grad, with student loans in a high COL area, even making biglaw money your best case is to break even in five or six years.

OTOH, if you have minimal housing costs, no student debt, and make biglaw money, you can save an obscene amount of money. For example, this year I am living off last year's post tax bonus, and I am under budget.

(http://www.autoadmit.com/thread.php?thread_id=2403225&forum_id=2#26019298)