Posted on 09/03/2018 5:55:10 AM PDT by proxy_user
Carl Jensen experienced what he calls “the awakening” sometime around 2012.
He was a software engineer in a suburb of Denver, writing code for a medical device. The job was high-pressure: He had to document every step for the Food and Drug Administration, and a coding error could lead to harm or death for patients.
Mr. Jensen was making about $110,000 a year and had benefits, but the stress hardly seemed worth it. He couldn’t unwind with his family after work; he spent days huddled over the toilet. He lost 10 pounds.
After one especially brutal workday, Mr. Jensen Googled “How do I retire early?” and his eyes were opened. He talked to his wife and came up with a plan: They saved a sizable portion of their income over the next five years and drastically reduced expenses, until their net worth was around $1.2 million.
On Tuesday, March 10, 2017, Mr. Jensen called his boss and gave notice after 15 years at the company. He wasn’t quitting, exactly. He had retired. He was 43.
(Excerpt) Read more at nytimes.com ...
Did it twice. At 43. Then again at 53.
Each time I was back working in a different business two years later.
Not with 1.2 million, but enough so that having FU money makes life less stressfull.
Step one: Have a six figure job early in your career.
Oh, is that all it takes?
Step one: Have a six figure job early in your career.
Oh, is that all it takes?
One day my spouse walked into my office and said, “You don’t have to work. We have enough money”.
It is a nice feeling to know the cars in the driveway are mine and the house is paid for.
Serving as the stand-in secretary at church and filling the grocery sacks at the local food bank really let you have one-on-one time to me people in need and do the good work that is meaningful to others.
How to retire in your 30s? Simple: Stop voting for anyone who is part of the Rat/RINO Uniparty.
If you read the article you’ll get this..
You know marrying money is a full time job
I don’t need the aggravation
I’m a lazy slob
I hang fire, I hang fire
Hang fire, put it on the wire baby
Hang fire, hang fire put it on the wire baby, go ahead
Hang fire.
Not quite there but getting there. One key is to pop as much as possible into your 401K each year and get the max match.
$1.2 Million invested so that it returns 3% after inflation provides a return of $36,000 per year. That is hardly a retirement.
The premise is, save as much money as you can in your 20s, deferring the big purchases for later.
The difference between starting to save in your 20s, versus starting to save in your 30s is huge, in terms of the amount of money you’ll have for retirement.
OK, but I’m 60. Get me back to my 30s, and you can keep the million bucks!!!
Live below your means and you will retire beyond your dreams.
My new tagline.
I am 49 and have a good bit more than this couple. I wouldn’t dream of retiring yet. This guy is a fool if he thinks 1.2 million is enough to retire in his 30’s. Change his job perhaps, and earn enough to cover living expenses.
You could probably get a higher return with more risky investments. Plus, it helps if you have your house paid off. However, unless you really want to live a “no frills” lifestyle, $1.2M is not enough to retire at such a young age.
And that assumes nothing goes wrong. But we all know things go wrong all the time.
Become a drug dealer.
The best strategy is to have a job that you don’t think of as “work”. Or at least not work you despise.
I agree. $1.2M is not enough to last at that age. $1M is not what it used to be, especially with interest rates under 4%.
I believe this is a “thing” with the younger crowd. I worked with a guy who “retired” in late 30’s. Lived with his parents, no wife, no kids, no car. Realistically he will be back in the workforce.
A sure fire way to make a small fortune. Start with a large fortune...........
Exactly what I was thinking.
They say $3-5 million is the new $1M.
Another way of looking at this article is a propaganda. The NYT urging White people to quit their jobs and become dependent on the State.
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