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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 9:09 am to TheCaterpillar
Posted on 12/20/19 at 9:09 am to TheCaterpillar
quote:
Had he just gone to 40 he’d be set. Pretty stupid.
He was already set. There was nothing indicating he was short on income, only intelligence.
all they had to do was move and raise the kid on their own and they would still be making crazy bank not working.
What idiots.
0
Posted on 12/20/19 at 9:50 am to OleWarSkuleAlum
As others have said, he could have worked until 40
or
Moved to Texas.....
or
Moved to Texas.....
Posted on 12/20/19 at 10:15 am to OleWarSkuleAlum
Many reasons why this guy is an idiot, but if he really wanted to stay in SF with a kid and live lavishly on 300+ he should have worked a few more years before retiring early. He definitely had to enough to retire early and nicely but just not enough for him. That money had to stretch a long time from 34. Work until 40 at that income he’s probably good.
Posted on 12/20/19 at 10:51 am to SlowFlowPro
quote:
yeah the ONLY problem with his retirement plan is his desire to live in the most expensive city in North America
Seriously. WTF?!
Posted on 12/20/19 at 12:01 pm to canyon
quote:
Where do you go for scans, 7-11?
I’m a teacher. We go wherever we want.
Posted on 12/20/19 at 12:51 pm to mylsuhat
quote:
So literally all of his problems are solved if he just moved out of San Francisco
His financial problems might be. But I’d say that he and Mrs. Dumbass have other problems that don’t show up on paper.
This post was edited on 12/20/19 at 12:53 pm
Posted on 12/20/19 at 1:37 pm to JayDeerTay84
quote:
Moved to Texas.....
Hell, as others have said it doesn’t even have to be Texas. There are plenty of nice places throughout the Southeast and East Coast which would fit the bill.
Miami, Charleston, Charlotte, and Nashville all provide a certain amount of that vibe any West Coastian (Coastite? Coaster?) ought to be looking for at a lower price point.
And if you didn’t insist on a trendy major urban center the money goes even further.
Don’t get me wrong, Cali has some really nice, top of the line areas. However, it’s not THAT much better than some of these other places.
Posted on 12/20/19 at 1:45 pm to OleWarSkuleAlum
San Fran and Hawaii will do that to you. Now if he was on the Gulf Coast he could make do very well.
Posted on 12/20/19 at 1:54 pm to SlowFlowPro
quote:
yeah the ONLY problem with his retirement plan is his desire to live in the most expensive city in North America
This is from another article about the same guy:
quote:
Why Not Move?
When people hear that expenses are too high in San Francisco or New York City or another high-cost area of the U.S., one question immediately arises: Why not move? It’s not that he hasn’t thought of it.
“[It’s] harder than I thought it would be,” said Dogen.
Often when people ask this question, they’re implying why not move to a low-cost area of the U.S., located in the Midwest or South. But for Dogen, who is of Chinese decent, the idea of moving to a centrally located state concerns him since he would likely have to move to an area that’s less racially diverse than San Francisco. As someone that grew up in Virginia, Dogen isn’t comfortable moving his family to an unknown city that would make his son “more of a minority.”
He does have family in Hawaii as well, and wants to move there eventually. But they have also built a life in San Francisco, with friends, connections and a community, and they aren’t yet ready to give it all up.
LINK
Yeah, no minority populations in the South. His town needs to be "racially diverse", as long as it's the right kind of diverse.
ETA - Another gem:
quote:
And while some in the FIRE community would question why he doesn’t find a cheaper strategy or cut expenses, it’s not his view on early retirement. “Why would you want to live near abject poverty, just so you can retire early,” he questions.
This post was edited on 12/20/19 at 2:03 pm
Posted on 12/20/19 at 2:16 pm to OleWarSkuleAlum
quote:
Here are the main reasons I now need to retire from early retirement:
We had a child
Oh, that and not that you lived in the Bay area?
Posted on 12/20/19 at 2:20 pm to Brummy
The guy doesn’t want to give up anything to stay in retirement. He very well could but would have to sacrifice things that he deems too important.
The two that he could do and be financially set are:
- Relocate
- Don’t send your kid to private preschool or elementary school
I plan to FIRE but he tried to do it while living like a 0.05%er.
The two that he could do and be financially set are:
- Relocate
- Don’t send your kid to private preschool or elementary school
I plan to FIRE but he tried to do it while living like a 0.05%er.
Posted on 12/20/19 at 3:28 pm to OleWarSkuleAlum
Stopped reading at the mention of San Francisco.
Posted on 12/20/19 at 4:18 pm to Brummy
quote:
But they have also built a life in San Francisco, with friends, connections and a community, and they aren’t yet ready to give it all up.
90% of Louisiana residents with the means to move but don’t. Let’s not act like this isn’t a very important variable.
Posted on 12/20/19 at 6:10 pm to cuyahoga tiger
quote:
Now if he was on the Gulf Coast he could make do very well.
Give me his assets and I can not only retire, but put the next generation of my family through college.
This post was edited on 1/25/21 at 4:11 pm
Posted on 12/20/19 at 6:59 pm to TheCaterpillar
If you don’t have the private school ring you will never be one of them. At Catholic High they actually take an oath to protect one another when they get the ring.
Posted on 12/21/19 at 7:00 am to Dominate308
No they don’t
Posted on 12/21/19 at 7:35 am to Brummy
but he doesn't have to move to Lake Charles
he can move to any other West Coast hub, which will be super expensive, and still live well. LA, San Diego, Seattle, Portland, etc.
or if he wants to slum it, move to like, Anaheim
SF is just THAT much more expensive
he can move to any other West Coast hub, which will be super expensive, and still live well. LA, San Diego, Seattle, Portland, etc.
or if he wants to slum it, move to like, Anaheim
SF is just THAT much more expensive
Posted on 12/21/19 at 7:57 am to Tiger Prawn
quote:
Dude could’ve lived comfortably in 95% of the country, but he picks one of the top 3 highest cost of living cities in the country
Let's be honest. You can still live very comfortably in SF for 250k. This guy is a doorknob who is blowing through cash.
Posted on 12/21/19 at 8:59 am to Dominate308
quote:
At Catholic High they actually take an oath to protect one another when they get the ring.
Posted on 12/21/19 at 1:18 pm to OleWarSkuleAlum
No way to help him if he wants to live in California.
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