I just wanted to see who has retired by 50 or thinking about it...I'm 46 and thinking about it....but will do something different during retirement like, travel, work as volunteer, etc....
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Retired by 50 anyone?
- Thread starter DDankew
- Start date
I'm 36 and currently work 3.5 days per week. I'm hoping to retire by 50, but something tells me I won't be sitting around playing golf all day. Instead, passive income is the key to retirement as you never want to outlive your money.
- Joined
- 19 March 2003
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- 3,442
MY bro and I will be retired by 35. We wont be sitting around though but doing our hobby a little more extreme when we want. I will still volunteer and do side jobs but no more bosses!!!!!!!!
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I'm a government moe and will be eligible to retire full pension (LEO retirement) when I'm 49... and i'll probably fly the coop then.
i have a dream in my head of living the golden years selling exotics... low end would be porsche, but more in the lambo/ ferrari realm. i have plenty of time to learn everything about them beforehand and think i can make it happen...
i have a dream in my head of living the golden years selling exotics... low end would be porsche, but more in the lambo/ ferrari realm. i have plenty of time to learn everything about them beforehand and think i can make it happen...
I'll be out by 54. The only reason I'm still working is that my youngest kid won't be out of high school for 8 more years so we're stuck here. I like my gig, so why not keep doing it while I'm near it?
Once he's off to college, we're selling the rancho, adding the funds to the retirement accounts, and moving someplace with water and a company that builds wooden boats.
Once he's off to college, we're selling the rancho, adding the funds to the retirement accounts, and moving someplace with water and a company that builds wooden boats.
:biggrin:I am retired. Currently writing a book, lot of projects, do volunteer work, etc., etc.
i've semi-retired several times over the years... assuming one manages one's finances reasonably well and doesn't need to live too lavishly, it doesn't take near the money some folks might think.
doug, what is the subject of the book you're writing?
doug, what is the subject of the book you're writing?
a biography on his brother 'twinkle toes'?? :biggrin::biggrin:
how to raise honey bees without getting "stung"... in the financial sense? :biggrin:
Hey! What is this, beat up Doug day? I didn't get that memo.:tongue:
It was posted on the bee hive at 9 am sharp! If you put honey in your tea you would have seen it. :biggrin:
:biggrin::biggrin::biggrin:
It seems neat on paper to want to retire early until you realize that not many others can so there is no one to hang out with (except for the 70 year olds who are retired).
I agree with the Volunteering, doing something enjoyable (retire from the shit job to work an enjoyable job), etc....
I had dreams of retiring with 20-25 rental houses all paid off but after nearly all of my tenants have pissed me off over the past 7-8 years I have sold most of my houses... I hated almost all of my tenants. Very unappreciative assholes!!!
would be nice to be able to work part time, do volunteer work part time and vacation 2-3 months a year (1-2 weeks ever other month, something like that)...
I agree with the Volunteering, doing something enjoyable (retire from the shit job to work an enjoyable job), etc....
I had dreams of retiring with 20-25 rental houses all paid off but after nearly all of my tenants have pissed me off over the past 7-8 years I have sold most of my houses... I hated almost all of my tenants. Very unappreciative assholes!!!
would be nice to be able to work part time, do volunteer work part time and vacation 2-3 months a year (1-2 weeks ever other month, something like that)...
I had dreams of retiring with 20-25 rental houses all paid off but after nearly all of my tenants have pissed me off over the past 7-8 years I have sold most of my houses... I hated almost all of my tenants. Very unappreciative assholes!!!
That's why you need to get hundreds and have a huge buffer of people between you and the tenant. I do know EXACTLY what you are talking about though. If I have to deal with too many tenants in one day I am drained by the end of the day.
The more apartments you have the less financial pain there is in telling the tenant to go F..k themselves.
The bad parts are all of your friends are working during the day and everyone in the grocery are 65+.
It seems neat on paper to want to retire early until you realize that not many others can so there is no one to hang out with (except for the 70 year olds who are retired).
I agree with the Volunteering, doing something enjoyable (retire from the shit job to work an enjoyable job), etc....
I had dreams of retiring with 20-25 rental houses all paid off but after nearly all of my tenants have pissed me off over the past 7-8 years I have sold most of my houses... I hated almost all of my tenants. Very unappreciative assholes!!!
would be nice to be able to work part time, do volunteer work part time and vacation 2-3 months a year (1-2 weeks ever other month, something like that)...
You weren't part of the sub prime and mortgage fiasco were you? I know a lo tof poepl in California bought property all t=ove rthe central valley into AZ, NM and TX. And now they 've lost their shirts.
I am tired is that kind of like retired, only 17 years to full Social Security.
luckily not me. I still own 12 places and only have 3 mortgages.... Luckily I paid the mortgages off instead of investing the $ in the stock market and keeping the mortgages.... I don't make smart moves very often but I lucked out on that one.
I have never lost $ on any house... a few that were destroyed by tenants I have made minimal $ but... better than losing...
People were in over their heads thinking interest only, or negative amortization, etc.... of course if you have a handful of jerk real estate agents and jerk mortgage brokers both saying the same thing " you can do eeettt" then i guess people start to justify and go for it... doh....
I have never lost $ on any house... a few that were destroyed by tenants I have made minimal $ but... better than losing...
People were in over their heads thinking interest only, or negative amortization, etc.... of course if you have a handful of jerk real estate agents and jerk mortgage brokers both saying the same thing " you can do eeettt" then i guess people start to justify and go for it... doh....
ahahh... i am probably going to try again once I sell the houses I have.... i started in some pretty shitty parts of town so i have sold some of the worst ones....I would be much happier shooting for more expensive houses that may appreciate better and forgo the nice cash flow (good cash flow around here = section 8 and all the assholes that come with it)...
I was always fairly sympathetic towards the poor until i started renting. they are mostly overweight, big screen tv's, lazy, boyfriend lives with them, fingernails are always awesome looking, same with hairdo's, etc..... why would they ever want to appreciate anything when they can destroy and move on without any consequences... gotta love America!!!!
I was always fairly sympathetic towards the poor until i started renting. they are mostly overweight, big screen tv's, lazy, boyfriend lives with them, fingernails are always awesome looking, same with hairdo's, etc..... why would they ever want to appreciate anything when they can destroy and move on without any consequences... gotta love America!!!!
ahahh... i am probably going to try again once I sell the houses I have.... i started in some pretty shitty parts of town so i have sold some of the worst ones....I would be much happier shooting for more expensive houses that may appreciate better and forgo the nice cash flow (good cash flow around here = section 8 and all the assholes that come with it)...
I was always fairly sympathetic towards the poor until i started renting. they are mostly overweight, big screen tv's, lazy, boyfriend lives with them, fingernails are always awesome looking, same with hairdo's, etc..... why would they ever want to appreciate anything when they can destroy and move on without any consequences... gotta love America!!!!
sounds like my typical section 8 tenant but man the money is good. What seems to be the thing bugging me lately is we all work so hard to get the "feeling of freedom" these guys have with no effort. There is no stress on these people at all. I know your frustration. When I was more involved with the tenants directly it drove me nuts. If you put that buffer of people in there you will be a lot happier, trust me.
I was talking, unofficially, to a girl who works over in the welfare office. she really enlightened me the other day. The workers in the welfare office have quotas for the amount of people they have to get off welfare. This is why you see the same people on welfare not trying. The ones who try to do better with their lives have their welfare payments stopped BUT the lazy ones they keep paying because it is too hard to get them off. It makes it easier for the welfare worker to make their quota.
Maybe this is common knowledge but for me it's something I just found out on Sunday.
I have wondered why in the hell they don't got do some auditing for Section 8? If they show up and there is a big screen tv(s) and a/c units in all the rooms, or in the winter if the heat is on 80F and everyone is in their underwear (around here they get free heating somehow which means turn it up and walk around damn near naked).... sorry no free anything for you.....
Like you said, they are truely stress free, well fed, etc.....
so you have section 8 also... ahah... i was buying houses for $20-$25k and renting for $600/month.... gotta love the cap rates with that.... until they move out and it is destroyed.... but good at first....
Does anyone actually come off of welfare? I only know of 2 section 8 tenants who moved on in life but one of them came back....not sure about the other.... everyone else that I know plays the game like you said... they work just hard enough and space their kids out so they can be on "4 life"
Like you said, they are truely stress free, well fed, etc.....
so you have section 8 also... ahah... i was buying houses for $20-$25k and renting for $600/month.... gotta love the cap rates with that.... until they move out and it is destroyed.... but good at first....
Does anyone actually come off of welfare? I only know of 2 section 8 tenants who moved on in life but one of them came back....not sure about the other.... everyone else that I know plays the game like you said... they work just hard enough and space their kids out so they can be on "4 life"
I have wondered why in the hell they don't got do some auditing for Section 8? If they show up and there is a big screen tv(s) and a/c units in all the rooms, or in the winter if the heat is on 80F and everyone is in their underwear (around here they get free heating somehow which means turn it up and walk around damn near naked).... sorry no free anything for you.....
Like you said, they are truely stress free, well fed, etc.....
so you have section 8 also... ahah... i was buying houses for $20-$25k and renting for $600/month.... gotta love the cap rates with that.... until they move out and it is destroyed.... but good at first....
Does anyone actually come off of welfare? I only know of 2 section 8 tenants who moved on in life but one of them came back....not sure about the other.... everyone else that I know plays the game like you said... they work just hard enough and space their kids out so they can be on "4 life"
I sent you a pm so this thread can stay on topic.
Good idea! Back to the topic....I have taken on too many financial responsabilties to retire early,but my jobs are stimulating enough,plus work makes my off time that much sweeter.the other factor is that work keeps me outa trouble:wink:
OK - I am far, far from retirement. But, I kinda have a dumb question. What are you guys going to do with your free time? I have a busy medical practice but when I am off or not busy then I go stir crazy. I don't mind taking a few days off once in a while but really what would I do with 5 years or 10 years off. Don't get me wrong - I have plenty of hobbies but that doesn't mean I want to do them on a daily basis. For eg, I love cars, working on them, going to the dealerships, tracking them etc etc. That doesn't mean I want to be a mechanic or a car sales man.
Btw Scot - How is twisty doing? Or was it pasty?:biggrin:
Btw Scot - How is twisty doing? Or was it pasty?:biggrin:
I do nothing all day and I love it. Sometimes it's hard doing nothing but after a while you get use to it. Every now and then I leave the house and go do something. I am happy until I get to end of my driveway. There is no stress here until I get out where other people are.... driving slow, writing checks in the 10 items or less aisle, dinging my car, letting 10 people pull out in front of them while I am behind them, you know all those things that keep me from getting back home sooner. :biggrin:
