Wagies, listen up and listen good. It doesn't have to be this way forever, and not for 40 years.
Society is constructed to enslave you through consumption and poor financial education. It's how they trap you, I'm not even conspiracy theorizing here. Many of us, the vast majority of us will NOT invent something or start a successful business (survivorship bias at its finest). Also ignore those feel good "entrepreneur" hacks like Gary Vaynerchuk, frauds that got massive help.
The reality of it is that you'll have to get a job or live in poverty like NEETs here. Unless you got lucky on shitcoins (in which case why are you still here?) or have a massive inheritance coming, if you ever want to "make it" you'll have to work.
The key is to get started early. Find out what really makes you happy - it probably isn't a brand new Mercedes or eating out and drinking every night. Learn to appreciate the simpler things, improve yourself, educate yourself and most important SAVE AND INVEST. As much as you can. Escape the rat race by your mid 30s and never wagecuck for another person again. This is what Financial Independence is about.
oh boy so I can live like a cuck my entire life eating instant ramen every day and driving a shitbox
Benjamin Garcia
Cringe and bluepilled. What is your net income vs your expenses?
You ever wonder why """rich""" people still work and sit in traffic every day and take shit from their bosses? Yea, they're up to their eyeballs in debt due to retard tier financial decisions and spending
>Ride your bike to work >Make most of your meals yourself and don't eat meat for like, every meal
Suddenly you are much richer and healthier. The downside is now that you have good habits, you will live longer and need to save more money to last you your whole life.
Brayden Gray
Saving 18,000 a year isn't "average", most people don't even save for retirement at all. Granted for someone who makes 500k that's really pathetic
Cooper Brown
So what if "most people" aren't doing it? That's the entire point of this.
Austin Cox
"Golden Handcuffs". Feeling of being trapped more than anything, conditioned by a debt-obsessed socioeconomic system.
There are simply no alternatives to succumb to that. You may got lucky in shitcoins or business, but you may have higher success in changing yourself / your mindset. And that's hard. Shrugging off the "herd instinct" is hard and needs awareness and lots of Redpills.
Anthony Ross
Sad state of affairs but there’s a lot of truth in that I agree
Most are content to be NPCs
Leo Torres
>BMW SUV >Children's lessons >Charity >3 vacations a year I'm not saying this guy is a dumbfuck but there is definitely fat to trim from this list.
Plus this is a bullshit list anyway, anyone earning 500K would incorporate themselves and enjoy that sweet 15% effective corporate tax rate.
It’s real. Lifestyle choices... imagine if they could just save 150-200k a year. A family of 4 can easily live off of 80k. No one fuckin needs a $1.5 M house or 2 luxury vehicles. Maybe the parents wouldn’t have to pay 40k a year if they were around to watch and raise the kids instead
you just threw some fucking buzz words around like "rat race" and "Financial Independence"
how about actually telling us how to achieve this you idiot
Nathan Kelly
Saving about $1700 per month, want to get it up to $2000
Lucas Gomez
finna be retire soon dog
Ryan Davis
Pretty sure that's the point user; "Watch our documentary where we will totally tell you how to achieve this and not simply demonstrate a scenario unique to the individual"
Isaac Flores
reduce your outgoings, invest everything into rental properties and index funds, wala, no more working required
Caleb Allen
I have zero outgoings and an income of roughly $1250 per month... what do i do user ;_; ?
Open up a vanguard account and put the money into vroadly diversified funds (like Lifestrategy 80-20, or pick a few ETFs like s&p500, international stocks and bonds. Reinvest all dividends for a while, and hopefully your income will increase too. I've literally only been doing this for less than a year and my vanguards make me ~$100 a month in dividends, not retirement yet, but in 10 years with compounding, salary increases and equity gains there is no reason I couldn't hit $2000 a month
Blake Rivera
equities rise over time, and having a decent fraction in bonds helps mitigate downtrends in equities. My next goal is to purchase a rental property
David Martin
>rental properties Look at FundRise
Robert Gonzalez
FIRE involves living like a stray dog while investing 90% of your income for 15 years and then retire (aka keep living slightly better than a stray dog because you definitely didn't make at least 1 million which is the absolute minimum to live decently). It's just a Reddit tier financial strategy, very popular on Jow Forumspersonalfinance
John Gutierrez
How much did you put in? And ATM the market is around ATH how do you feel about a possible market crash ?
Wyatt Murphy
>thinks he's going to retire in this 30s that's cute
let's do the math shall we?
>80k year >20 years >1.6 million >minus taxes 25% >1.2 million on the conservative side >subtract 20k a year for living expenses, again, being conservative >800k left >subtract house/property >500k >subtract car >475k
so you have maybe 400k or so to survive on until you die, minus medical expenses. I didn't even include children or vacation or spending money on literally anything you want - this is purely living your entire life as a single cuck who eats ramen noodles and rides the bus everywhere.
investing in rental property is unironically a good idea but it can be tricky nowadays considering HOA fees cost so fucking much, it really offsets any profit you could make
Chase Gonzalez
based
Nathaniel Stewart
I can save 250$ a month you fuckface. How is that ever going to make me a fucking millionaire at best return if i'm lucky 5%/year. If the stock doesn't crash bitconnect levels
Jacob Edwards
You're on to the right thing user. I'm going to be able to retire when I turn 35 with $1M in assets. Might not retire when I turn 35 but I will probably go part-time unless I have my own business by then. Currently 27. Fuck working until you turn 70...
Grayson Adams
The only important, potebtially intetrsting thing in your post is some YouTube video. which im not going to watch.
Leo Cox
Yeah user that 1 mill is really going to tie you over for another 40 years
holy shit what a retard you are
Parker Thomas
The guy was an ass when he was just a guy with a blog. I'd imagine after they put him on national tv he became unbearable.
James Martinez
You have zero outgoings? You don't spend any of your money?
Samuel Anderson
stay poor
Evan Cruz
If he rides the bus everywhere, why'd he buy a 25k car? Why would anyone buy a 25k car at all user? Used cars like 2k around here. Also, 300k for a house? You wot? Houses are like 120k here. >this is the secret of doing this, you have to retire to rural and suburban regard states where the median income is like 30k a year and live like a king among peasants.
Henry Johnson
I started working towards my FIRE goal of $2m by 40 at 22. 5 years later up to a quarter mil, not sure if I'm going to make it. But I am much better off than if I went the normie debt cuck route.
Robert Green
FIRE is for people without kids who make 60k a year, or people with kids who make over 80k. It's literally "if the rich lived like normies they could stop working"
Kevin Mitchell
5% of 1 mil is 50k, he probably can live on like 24 a year until he turns 40, 40 a year if he has a kid.
Jack Phillips
You’re still in better shape than most 27 year olds. Even if you don’t hit your goal at 40 you’ll be miles ahead of your neighbors and at least have Fuck You money for any potential shithead bosses
Austin Nelson
Which I would do instantly, too bad that as soon as you have a female counterpart you have to spend a shitton of money on stupid stuff and doing at leat 1 big and a few short vacations per year and fuckload of money on more stupid stuff because females
Bentley Bennett
user, maybe it's better you didn't tell them that... >[spoiler]there are people on this board who actually think everyone can be wealthy [/spoiler] >[spoiler]There are people on this board who think someone else's loss isn't their gain[/spoiler]
you can FIRE in Thailand/Indonesia. I'm in SE-Asia at the moment and $$ takes you very far here. 10$/day for rent = nice studio. 5$ formotorbike. 10$for food. if u can get passive income of 30-40$/day you are set :D
Colton Bennett
Can you give some advice on negotiating leases as a farang? Any way to rent without signing a lease? What about 3 month long leases?
Cooper Lee
wage
Tyler Jones
idk about thailand, but i'm an indo citizen so for me it's easy here :P maybe just ask around for a under-the-table deal and give them a bribe. no one cares lol
Kayden Rogers
He was like every crypto pundit put together but even more boring.
Joseph Cruz
A family of 4 cannot live off of 80k.
Adrian Phillips
Mine does? Both went to college too.
Gabriel Kelly
You fucked up and aren't in control of yourself as well as your life then, females and relationships in general are time wasters and money sinkers unless you have a frugal gf which is rare. But FIRE reminds me of GOMAD as in they are both extreme ways to achieve a goal. Balance is key. You just need to be slightly frugal and organised, do compound investment and in 20 years have enough money to retire with a salary of $50k min. If you are still young, attempt your luck in crypto.
Colton Walker
Dont you have better things to do? Go trade some shitcoins and stay poor mate..
I live in a country with free healthcare and goverment pensions so I'm fine.
Adrian Wilson
Maybe not in NYC..
Luke Price
wage
Jeremiah Reed
$23,000 a year for food for four is beyond retard teir. That should be halved, even considering eating out and buying the occasional meal for guests.
Henry Carter
Is this possible to do in the third world?
Carson Peterson
yes, it's likely while wages are lower that cost of living is as well
whereabouts exactly?
Jordan Sanders
someone who is making bank probably enjoys their career and doesn't want to retire early
Connor Green
>someone who is making bank probably enjoys their career and doesn't want to retire early
Possibly, but the option is nice to have regardless. The emphasis is more on the financial independence/fuck you money part rather than the retire early/do nothing/sit on a beach all the day aspect.
>The emphasis is more on the financial independence/fuck you money now that i understand. i didn't hear of FIRE or people doing it much until recently, but i had been following the general guidelines for the last 10 years anyways.
yeah I think most people get turned off the by semantics/branding of "retiring" in your 30s and 40s. at its core it's really just about having flexibility and more choices. not sure who would say no to that.. lifestyle decisions and ignorance i guess
Logan Hernandez
you're right, they can live off of 60k.
Brandon Anderson
single cuck is an oxymoron
Connor Rogers
>42k for child care kek nigger you dumb
Noah Ross
wa
Robert White
Seems like I could live pretty fucking comfy if I don’t have a wife and kids. Kids seem to be the biggest expense, honestly I want someone to share my life with (would prefer a long term GF or make her sign a pre nup to avoid divorce rape) but I’ve never liked children and listening to them cry all the time would drive me insane. With that said I still will have to wage cuck till at least 40 I imagine.
Hunter Roberts
I spent my whole 20's traveling, moving to different places, hanging out with punks and squatters. I also did IT work every few years though, and graduated with top honors, and am a tall charismatic white man. Now I'm 31 and will be starting dev work in Spring (been brushing up and doing projects the last few months to prepare).
I was making $80k at my last job and expect I this will easily reach $100k in a couple years after sticking in the industry a bit longer and learning more on my own time. This image shows how much I can save, given current expenses, at a 30% tax bracket, over five, seven, and ten year timelines.
I think taking your 20s easy, but learning during this time, working in and out of your industry enough to stay relevant, then going hard in your 30's is a much better way to do FIRE. I'm glad I enjoyed my youthful years being wild and free and feel much more ready to go in for a long hall in my industry now that I'm a bit older. Spend my whole 20's running around wildly, then work for ten years doing work I enjoy from 32 to 41 and I can go from $3,200 savings to $875k and $77k/year interest to live off of. Maximum comfy.
Jaxon Carter
Having experienced six months to a year sabbaticals its soul crushing going back to corporate software development. Seeing the world really is best in your twenties and thirties though, thats true.
Good shit my man. Yeah there's no right/wrong way to do this.. as long as you avoid debt like the plague
Life's about living
Charles Flores
Broad based low cost index funds (VTSAX, FZROX)
Jose Young
Shit man. I'm a software developer and I was considering doing a 6 month sabattical or so while I'm not too old (I'm 28). I don't think I'll ever be able to retire early the FIRE way, however I already feel kind of soul crushed and if I would have to go back to work after those 6 months, the soul crushigness would probably kill me... What fucking do?!
Daniel Richardson
well that's a good life what are you on about
Jeremiah Myers
>living paycheck to paycheck is a good life
fucking lol. if either of them lost their jobs they'd be up shit creek and have to raid their 401ks early
Every $300 you save is worth a dollar per month in your retirement. Save until you have enough to retire then do it. It’s simple but not easy.
Levi Thomas
Here.
FIRE seems to me more and more of a pipe dream considering how fast the western world is returning towards a feudalistic society. Here on my shitty southern european country I'll never be able to make enough FU money to reach a FIRE state. I'm more partial towards mini-retirements or semi-retirements.
Colton Powell
>paying for others to raise your kids not gonna make it
Aiden Carter
>FIRE seems to me more and more of a pipe dream considering how fast the western world is returning towards a feudalistic society.
What do you mean?
Gavin Collins
The elimination of the middle class, wage stagnation, ever increasing real estate prices due to chinks and boomers, western governments selling out their own people in order to import cheaper labor.
Need I say more?
Isaiah Ward
I’m more worried about rising salt water and the end of cheap energy. But all the more reason to enjoy life while you can. There are some posters here who seem to think it’s about retiring as fast as possible, comfort be damned - no. It’s about making your economic choices with eyes wide open, and decoupling happiness from consumption.
Jordan Gray
>The elimination of the middle class, wage stagnation, ever increasing real estate prices due to chinks and boomers, western governments selling out their own people in order to import cheaper labor.
All the more reason to stockpile capital, no? If the system collapses we're all fucked
Nicholas Ramirez
I never said I wouldn't stockpile capital. I just said that it's very unlikely I'll ever reach a FIRE state.
Fuck this universe.
Caleb Gutierrez
Amen to that
Jose Thompson
>living like a stray dog elaborate
Nolan Robinson
brainlets can't comprehend alternative lifestyles so they shut down and dismiss financial independence as living in poverty and deprivation
Ryder Watson
Chicago suburbs. Household income was actually 60k. Huwhyte people just generally don't know how to start families anymore. Those Mormons don't all make 300k starting.
David Rogers
For those of use who aren't software devs, we have what's called the FU trailer
Hunter Richardson
they are selling a lie at 4%.
A brutally nasty consequence of retirement planning is sequence of returns risk. This is simply the risk that a major market downturn hits during the earlier years of retirement. For example, if a $1 million portfolio is cut in half overnight by a stock downturn, $40k of spending is now eating up nearly 10% of the yearly principal. Investment proceeds in the future cannot possibly counteract the much higher percentage drawdown, and the portfolio crashes to zero.
It is very easy to come up with point estimates following a simple 4% trajectory that magically work, but the volatility of the market doesn’t allow us that luxury in real life.
