How to retire early... or simply survive

[tech/a]

I think some are too worried to spend it.
That’s what moneys for ——spending!

 

[Wysiwyg]

Very handy calculator (for Australia's unique SUPER system):

http://firebythirtyfive.blogspot.com.au/p/superannuation-needed-to-reach.html

I found the calc. had no use. A 'should have" figure based on years and percentage rates and spend numbers put in the boxes. No starting amounts, present age, contributions etc.

I did find Pat the shuffler's blog very good to read, thanks.

 

[Smurf1976]

Pick a job that you don’t really consider as being work as such. That way the $ just tends to find you and all is happy.

On the other hand there are things like painting. Suffice to say I have absolute respect for anyone doing that for a living. No human should have to endure such misery so I sure hope they’re being paid well and then some.

Smurf hates painting. I say that having spent the whole day painting a house and there’s still more to go. Now THAT is what I call work.....

There ought to be a law against building houses in a way that needs exterior painting. Either that or use it as punishment for something really bad.

Electricity is much more fun.

 

[SuperGlue]

Electricity is much more fun.

Until



Got to post this. Can't help it.
Stay safe.

 

[Smurf1976]

Until
View attachment 86553

Yep, those paint fumes sure are dangerous.....

 

[Miner]

I suppose Warren Buffett,Bill Gates , Zuckerberg, Rupert Murdock Frank Lowe
Should stop living their dream Wyzzi

Good ones Wysiwyg (damn - have a short name mate - I will call you Wise Man ) and T/A
Dear Trendnomics - trust me I even do not need any kind of cheap tombstone as my ashes are to be either put into a cascade or thrown into a holy river! Environment protected and money saved too.

 

[McLovin]

The last time I worked for someone else (finance) I was 29, I'm 36 now. I don't think I could work for anyone else again. My last paying job was high six figures, without going into detail I'll just say that these days I'm comfortably into seven figures, so money isn't a concern. I like the flexibility I have, and I hated having to manage people. I'm definitely not retired, I'm just doing my own thing. There's only so much golf or bridge you can play. What's the point of spending your best years living like a pauper so you can enjoy your fifties?

 

[sptrawler]

The first article rang a bell with me. Being fairly frugal when young and employed, allowed us to get ahead in life. We were able to pay off the first house loan at high interest rates in a relatively quick time. This then allowed for borrowing against the house for investment when young.

I agree with your and smurph's sentiments, being frugal is the only way, for working class people to retire early.
As early as possible, buy a dwelling, if you can't afford to do that, buy a block of land.
Then as brty says, pay off your dwelling as quickly as possible, then get on with investment.
There's plenty of time to compete with the Jonses, when your investments are making more, than your job.

 

[sptrawler]

The last time I worked for someone else (finance) I was 29, I'm 36 now. I don't think I could work for anyone else again. My last paying job was high six figures, without going into detail I'll just say that these days I'm comfortably into seven figures, so money isn't a concern. I like the flexibility I have, and I hated having to manage people. I'm definitely not retired, I'm just doing my own thing. There's only so much golf or bridge you can play. What's the point of spending your best years living like a pauper so you can enjoy your fifties?

I think what you have done, is the way to get ahead, these days.
My S.I.L worked for a company that went broke, he as you did, started a company. To cut a long story short, within five years he has built a mansion.

Back in the 'baby boomer' early years, there was very few people went on to uni, therefore the majority became wage and salary workers. Actually even those that went to uni, usually ended up working for a Government Department.
That was brought about because back in the 1960's - 70's, most large employers were a division of the Government, be that Federal, State or Council, so the opportunity for mega wages was very limited if not impossible.
As the resources sector grew, the outsourcing grew and the population grew. Remember in 1970, Australia's population was 12.5 million, then compounding of supply and demand commenced and since the mid 1980's wages have flourished, Government services have been sold off and the costs have escalated.

The sad part is, as can be seen by the demographics, the percentage of people who become wealthy and self funded, probably hasn't changed much.

In answer to your last statement, what's the point of living like a king in your early years, to live like a pauper from 50 on?
Having said that, most seem to be choosing it.lol

 

[luutzu]

Yep, those paint fumes sure are dangerous.....

I like paint fumes.

Has a nice smell to it. That and it tells you your work is about to be done... just the lighting, the flooring, the furnishing, the skirting and trims. Come to think of it, it's like spending all that time and money to have a slab done just to see that that's just the beginning.

 

[luutzu]

The last time I worked for someone else (finance) I was 29, I'm 36 now. I don't think I could work for anyone else again. My last paying job was high six figures, without going into detail I'll just say that these days I'm comfortably into seven figures, so money isn't a concern. I like the flexibility I have, and I hated having to manage people. I'm definitely not retired, I'm just doing my own thing. There's only so much golf or bridge you can play. What's the point of spending your best years living like a pauper so you can enjoy your fifties?

I take it you don't labour much, you lucky...

There's no point at all in living like a pauper in our best years, just that the majority of people don't have much of a choice. Most skim, save, work long hours, try to stay out of debt, pay their bills, raise a family... and if they're lucky they get to enjoy their fifties or starting in their sixties with some comfort and security.

That's kinda like wondering why a pimply HS geek with braces and no car why he didn't get laid during his best years but wait 'til marriage. Answer would be he'd be lucky to get married and have some at all once those nerdy hours at the library studying for exams paid off.

 

[McLovin]

I take it you don't labour much, you lucky...

My parents owned a corporate furniture manufacturing business. From 13 until 20 or so I had to go out and do installations on school holidays (I had enough small businesses on the side that I didn't need the money). It was hard work. Believe me, as a 12 year old or 18 year old, MDF desks are heavy. My old man verbally kicked my arse when I said I didn't want to do it. The time with those guys gave me a very different perspective.

There's no point at all in living like a pauper in our best years, just that the majority of people don't have much of a choice. Most skim, save, work long hours, try to stay out of debt, pay their bills, raise a family... and if they're lucky they get to enjoy their fifties or starting in their sixties with some comfort and security.

Sure they do, they choose not to. Get married and have kids, start in your thirties. Before then, the world's your oyster!

 

[McLovin]

I think what you have done, is the way to get ahead, these days.
My S.I.L worked for a company that went broke, he as you did, started a company. To cut a long story short, within five years he has built a mansion.

I really just took my savings, which were substantial for someone at that age, and started investing. I've branched out since then, but I'm not the only one on here who has gone full time investing.

In answer to your last statement, what's the point of living like a king in your early years, to live like a pauper from 50 on?
Having said that, most seem to be choosing it.lol

LOL. You're half dead; you may as well start living it.

(I've always enjoyed my chats with you, sp. You remind me of an uncle I have)

 

[luutzu]

My parents owned a corporate furniture manufacturing business. From 13 until 20 or so I had to go out and do installations on school holidays (I had enough small businesses on the side that I didn't need the money). It was hard work. Believe me, as a 12 year old or 18 year old, MDF desks are heavy. My old man verbally kicked my arse when I said I didn't want to do it. The time with those guys gave me a very different perspective.


Sure they do, they choose not to. Get married and have kids, start in your thirties. Before then, the world's your oyster!

Dam. That's very impressive. Well done man.

 

[sptrawler]

.
LOL. You're half dead; you may as well start living it.

(I've always enjoyed my chats with you, sp. You remind me of an uncle I have)

I am enjoying it, always worked for wages, retired at 55 own a Harley, owned a Porsche, going on my 15th cruise.
Be back in mid June, to check my SMSF tax issues.

Having said that, I was the 'black sheep' of the workshop, invest don't spend was my mantra. So I ate my lunch mostly on my own. LOL

 

[McLovin]

I am enjoying it, always worked for wages, retired at 55 own a Harley, owned a Porsche, going on my 15th cruise.
Be back in mid June, to check my SMSF tax issues.

Nice. I never picked you as a Porsche owner, spiv.

Who do you cruise with? I'm going on my first with the girl in July to Alaska.

 

[sptrawler]

Nice. I never picked you as a Porsche owner, spiv.

Who do you cruise with? I'm going on my first with the girl in July to Alaska.

I hate flying, so I tend to mix my destination, with an area of the World I want to "see" but not necessarily visit.
So when we were first going to Europe, I looked for a cruise that visited a lot of ports around Africa, that finished in U.K.
Then I looked at what cruise lines offer the places I want to see, then wait until "the price is right".
This time I'm doing the Suez and the Med.
I've cruised with a few cruise lines, and to say which would you cruise with, I think is really dependent on who you are and what you want.
Some cruise ships are great for families eg, wave generators, skydive tubes, bumper cars, video games.
Others are great for pomp and ceremony.
At my age and my personality, the other half and myself, like a quiet cruise, with great ports and a really good gym, we're not there to impress anybody.LOl

So really I can't recommend any cruise line specifically, it really does depend on the type of person you are.
But having said that, cruising is a great way to see the World, at a very reasonable price.

 

[sptrawler]

My parents owned a corporate furniture manufacturing business. From 13 until 20 or so I had to go out and do installations on school holidays (I had enough small businesses on the side that I didn't need the money). It was hard work. Believe me, as a 12 year old or 18 year old, MDF desks are heavy. My old man verbally kicked my arse when I said I didn't want to do it. The time with those guys gave me a very different perspective.
!

You've got a lot to thank your Dad for, firstly he was a business owner, which gave you the frame of mind not to be scared of owning your own business.

Secondly he obviously showed you that owning a business, wasn't all pi$$ and skittles.

Thirdly you had the brains, to work out, you put F all in you get F all out.

There is a lot of people with your background, that blow the family fortune, and there are a lot of people from poor backgrounds that break through the glass ceiling.

The problem is the current crop of idiots, both Labor and Liberal, want everybody to believe they can make it through higher education whether they can or can't.
As long as it keeps them off the dole, it's good.
It is time the Government realised privatisation has been a disaster, and took it back in house, it just means the taxpayer is paying wages rather than the dole.
Let's be honest a lot of failed ex Government businesses, if re established, would be great employers and skill generators.
By the way I'm no spiv, just love nice engineering, never owned a big cube V8 when all my mates did, I drove a 1969 Toyota Crown, that took balls in a mining town.
Now you know the scenario.lol

 

[bellenuit]

Nice. I never picked you as a Porsche owner, spiv.

Who do you cruise with? I'm going on my first with the girl in July to Alaska.

I did the coast of south Alaska (Glacier Bay, Sitka etc) with Princess Cruises (The Emerald Princess) from Vancouver last year. Although the trip was enjoyable (although a lot colder than I expected, which limited time spent on top deck), one thing I would advise with Princess is to not tick the box that says to add you to their mailing list.

I literally spent months afterwards trying to stop unwanted email and snail mail being sent to me (even though I unsubscribed multiple times) which was often 3 or 4 times per week. I sent numerous emails to various US and Australian contact people complaining about the emails. In the end it only stopped when I did a search of every top person with Princess (including their US CEO) and sent them an email demanding that they stop harassing me. That worked.

 

[Wysiwyg]

In answer to your last statement, what's the point of living like a king in your early years, to live like a pauper from 50 on?
Having said that, most seem to be choosing it.lol

Most working people are on an hourly rate and all the saving and scrimping and frugality in the world aint going to make all of them wealthy soon. Long time to a million on an hourly rate.