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Started By
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re: 42-year-old millionaire: I tried to retire early at 34—but failed. Here’s what went wrong
Posted on 12/20/19 at 7:40 am to SprintFun
Posted on 12/20/19 at 7:40 am to SprintFun
quote:
How much money did he embezzle to amass $3M at 34?
He was in IB and his wife finance. Not hard especially in a place like San Francisco.
0
Posted on 12/20/19 at 7:41 am to OleWarSkuleAlum
quote:
$2000 a month for one kid also
When our son was in the infant room at daycare it was $305 per week. So $2k in San Fran is probably a bargain. But again, if you're both home then why do it.
Posted on 12/20/19 at 7:42 am to OleWarSkuleAlum
A) they are retired but send their kid to daycare? Ridiculous B) he should’ve DRIP’d those dividend stocks a few more years
Posted on 12/20/19 at 7:42 am to FAP SAM
quote:Well I don’t know if he’s a “man” or not but he obviously didn’t do well enough in life to be able to retire at 34.
Imagine being so insecure about yourself that you think someone who did well enough in life to be able to retire at 34yo is less of a "man"
Posted on 12/20/19 at 7:43 am to StringedInstruments
quote:
I’m a married guy with two kids and our family plan is $207/month.
Same situation except self employed. I will have the cheapest/shittiest plan offered next year on the Louisiana exchange and it will be almost $1100 a month. That's a $6500 per person deductible. I don't mind the deductible, it's the premium that's absurd.
This post was edited on 12/20/19 at 7:43 am
Posted on 12/20/19 at 7:43 am to SprintFun
quote:
$305 per week
no thanks on that dude. hopefully your frnd @kosmo doesnt have kids. id feel bad for him
This post was edited on 12/20/19 at 7:44 am
Posted on 12/20/19 at 7:43 am to OleWarSkuleAlum
I won’t retire until age 70. I will miss nothing. Maybe he just needed to find a more enjoyable and harmonious way to earn the extra amount what he needed. Labor and production doesn’t have to be draining- it CAN be energizing.
Posted on 12/20/19 at 7:43 am to OleWarSkuleAlum
Then he basically writes an article screaming “Don’t hire me” 
Posted on 12/20/19 at 7:47 am to OleWarSkuleAlum
Me and the wife retired. Me at 57 her at 59. We live on a $7500/mo “salary “ we pay ourselves out of monies generated from our investments. Our house is paid off long ago and we live in Colorado not exactly the cheapest place. We do fine. I can’t imagine having $250k a year to live on. I’d have a new pickup lol.
Posted on 12/20/19 at 7:49 am to OleWarSkuleAlum
quote:
I had amassed a net worth of about $3 million that generated roughly $80,000 in investment income per year.
OT poor. Probably only benches 500.
This post was edited on 12/20/19 at 7:51 am
Posted on 12/20/19 at 7:51 am to SlowFlowPro
I’m surprised no one has mentioned his comment if all else fails I’ll just move to Honolulu NBD. As if Honolulu is some LCOL area.
Posted on 12/20/19 at 7:52 am to Bestbank Tiger
$80k income off $3 million is not even 3%. There are Preferred Stocks that pay 5-6-7%
Posted on 12/20/19 at 7:52 am to OleWarSkuleAlum
Californians are idiots. It’s not worth the cost
Posted on 12/20/19 at 7:53 am to OleWarSkuleAlum
quote:
While I understand that it’s our duty to help subsidize others who are less healthy
Frick this guy.
Posted on 12/20/19 at 7:53 am to Man4others
quote:
$80k income off $3 million is not even 3%. There are Preferred Stocks that pay 5-6-7%
In the article he comments that he underestimated the perpetually low interest rates.
Posted on 12/20/19 at 7:54 am to OleWarSkuleAlum
$250 a year income and no geographic constraints, but too dumb to get out of Beverly Hill country. Pride will keep these people in a bind. Their DTI ratio will prob always suck.
Posted on 12/20/19 at 7:55 am to OleWarSkuleAlum
quote:
For seven years, I lived a charmed life in early retirement with my wife,
This guy is a liar, has a girl-friend, or is homosexual.
Posted on 12/20/19 at 7:56 am to GeauxxxTigers23
He and his wife make $250k without lifting a finger.
Regardless, this dude's story has nothing to do with thinking retiring at an early age isn't "manly" enough for ole welder baw
Regardless, this dude's story has nothing to do with thinking retiring at an early age isn't "manly" enough for ole welder baw
Posted on 12/20/19 at 8:13 am to OleWarSkuleAlum
quote:
If all else fails, we will relocate to Honolulu in 2022,
Smart guy. Im doing the same
Posted on 12/20/19 at 8:15 am to SlowFlowPro
At this point, anyone that's not mega rich that wants to live in San Fransisco, or San Diego and LA is either an absolute moronic idiot or a confirmed criminal that has one hell of a deal with someone.
The dude in the OP could have the same quality of life in a place like Houston, Phoenix, Dallas, Atlanta, Miami, or Nashville and still save a shite ton of money.
The dude in the OP could have the same quality of life in a place like Houston, Phoenix, Dallas, Atlanta, Miami, or Nashville and still save a shite ton of money.
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