Posted on 09/03/2018 5:55:10 AM PDT by proxy_user
If you read the article it says they are actually living off the wife’s salary and not the 40k investment income. So I would presume she provides the insurance . Essentially he’s become a stay at home dad with a nest egg.
Bought 30 acres in rural Florida and we raise Angus beef cattle to avoid the high property taxes. The cows give us an agricultural exemption from the property taxes.
No job to commute to, no clock to punch, no boss to deal with. No way are we going back into the workforce.
We work hard on our farm. We don't do it for the money. We do it to stay alive and active.
The only problem with retirement is that you never get a day off. Everyday is a farm day.
My wife is 69 and I'm 70.
Have a great Labor Day!
Invest in the market my friend.
“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.”
Bingo!
“The big wild card is health insurance. That will eat up most of the income he generates from his financial assets, and will grow in cost in the years to come.
Heck, I’m 58, and between premiums and our HSA contribution, we spend around $25K per year.”
Health sharing ministry like Medishare will fix that problem
“Whose going to paying the $25k per for his family’s health insurance? My bet, working Americans will be funding their health insurance and a lot of others items if all he is earning is $40k per year! Sounds to me like their retirement is living off other taxpayer while having how many kids?”
Solidarity Health Share.........look it up.
“First, I said after inflation. Second, if you are going to put it into stocks you are taking a lot of risk, which maybe you don’t want to do if you are giving up working for a living.”
I am not a financial Wiz, by any means. I do believe that the people running the show would be in the same breadline as me if the STHF, and they don’t want that anymore than I do. I count on people who know much more than me to give me advice, and I widely diversify my funds. Some for long term, some if I have to grab and go. I remember getting 12% on a CD back in the day. Now that CD pays >3%, which is actually up from the Obama years.
$1.2 million isn’t going to fund a 40 year retirement. It may be enough to fund a nice retirement if you work to age 70.
I have serious pre-existing conditions.
“How to Retire in Your 30s With $1 Million in the Bank”
Start with $2 million?
If he works part time and makes $16,500, he’d qualify for ObamaCare.
That is, if his wife doesn’t work.
There’s a penalty for being married.
You are correct and in the spirit of the article, moreso than me. From a traditional “retirement” perspective though, we’re on track to make that happen around 60, so 12 more years if all goes according to plan.
That’s a big one. Step two: Avoid every pitfall in life. They can get expensive.
See, we’re practically there on becoming millionaires.
This is easy!
Written like either a youngster who isn’t familiar with economic cycles, or someone working in the financial sales industry.
I split my investments so that one third is in 401k, one third is IRA and other third is in personal investment. 401k is safe, IRA is moderate and I take full risk with personal. If I choose to sell and take a profit, I move the profit over to my IRA and keep initial investment in personal.
In 2008 at age of 48 I was set to retire in 2 years. I lost my job, lost my insurance and daughter was hospitalized for a year. That wiped me out. I took measures to ensure turnaround time between jobs is short. Now my goal is retire at 65, sooner if my investments hit.
I don’t think so.
There are many smart people, many well-educated. But most people don’t take control and cut their own path. People are afraid of failure.
In my experience belief is a very powerful thing (I don’t necessarily mean religion). If you believe and set the stage for your subconscious thought to work things out the results can be amazing. You really can direct larger forces.
When I first set out I had a high level, life-long goal of what I wanted to “be.” Without much conscious thought I achieved it in my late 20s. At that point I realized I had to set my goals higher. What a ride!
‘Become a drug dealer.’
The pay is good, but the retirement goes one of two ways. Neither is good.
check it out anyway
We also want to have some rental properties so we can set up to get rental income during retirement.
I wouldn’t say that. Many more people are stupid and uneducated, so there is far less competition. If you are really sharp, it should be easy to make money.
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