From working on the road to maximizing their 401K savings in order to retire early, several 20- and 30-somethings have looked for ways to replace the 9-to-5 grind.
I don’t give a $hitt how they present this...anybody earning enough to retire after 6 years of work doesn’t represent 95% percent of the rest of Americans, no matter how economically they have lived.
They may not but that doesn't mean no one from the bottom has never made it to the top. I come from literally nothing, section 8 bull shit Wic and food pantries all my cousins sell dope and you know what I am 26 self taught software developer making almost 80k 3 years in I don't have no fucken college degree you know what I do have is hustle and drive to make it out and I focused until I found my lane. If the money is the problem go out and get you yours brother cause its out there. Once I hit that 100k in like 2 more years I'm tryna learn from these white ppl how to retire early.
Ugh, so can we please stop acting like the outlier is the norm? These people who all say, "well, I beat the odds therefore, it is an option for e everyone and anyone who struggles is a dumb, lazy, etc...." good for you. Glad it worked out for you. Now, there's of the world could use actual solutions. Not a lot of real advice out there though. Just a bunch of braggerts acting like they are flawless. Seriously, youwant to be impressive? Have some empathy instead of all that cynicism.
Uncle Sunbro it’s only not the norm because people like you are saying it’s so impossible there is nothing better than advice you can’t give people shit that’s just a fact of life and nobody owes you anything...a so called solution would be the school system doing a better job teaching real world knowledge etc but to be honest even then it’s going to be the same outcome because people are comfortable. I have friends from other countries that would laugh at your reply because honestly what would be your solution ?
This reminds me of the people on those house hunting shows. "My wife is a part time dog walker and I'm a knitter. Out budget is only $500,000. We have a modest budget..." 🤮🤮🤮🤮🤮🤮
generational weatlth is why they can do this..other races could not afford to do this because of deiscrimation in jobs and housing and studies show home ownership has helped millions of white people move into the upper middle class
Yeah, interesting. I live in southern california, i work 12 hour days, sleep 4-5 hours during the week and have been doing this for years. I am able to support myself yet I don’t have kids because I do not have the time to even date. It’s very sad but the reality is I have no choice but to work non stop right now, so it was probably a choice for them but it could also just be the way things have panned out.
The goal of the older generation: SECURITY. The goal of the younger generation: HAPPINESS. I'm happy to see my peers finding ways out of the 9 to 5 cubicle slavery life.
So when they finally get to the "security" part, who is going to provide that for them? It's hard enough for a pregnant woman to return to the workforce and maintain an upward trajectory, so what about these free spirits who want to return 10 YEARS after not working?
There was no security in work when I graduated from college at the peak of the 2008 recession. I went back my retail job while I actively looked for something better. There was nothing better and I was lucky to have my job- people wanted my low end job. 10 years later, after so much soul searching and even returning to school, I've landed in working warehouses. I love my job and my life: work 3 days and making a liveable wage. Do my parents and siblings like my job? No, but they're not the ones paying my bills and living my life.
Ditto. Lost my 401k at 25-26 due to Neuro Lyme Disease/Bartonella/Babesia/Rocky Mountain Spotted Fever infections that caused secondary problems like POTs/Dysautonomia, other nerve damage, and an immunocompromised state that made me succumb to fungal infections like Candida. This was all right after I gave birth to our child. Had to cash that 401k in for food and meds and couldn't work for 3 almost 4 years now.
V D.O. Depends On where you’re paying rent...yes it’s pricier than it ever has been anywhere, but for example vegas compared to anywhere in California, is totally affordable.
John W You are just making excuses for yourself. If someone put a gun to your head and said they would shoot you if you didnt save half of your income every month, you would magically find a way to do it (even with a low salary). Stop playing the victim
It does if you are willing to work REALLY hard, maybe even extra hard and be smart about where you spend. But also having HELP, does help. Like for example parents or siblings who are well off and able to help. So. There could be a point here.
@@topcomment3816 Also move away from the USA so no one has a gun pointed at your head and if you do get shot you have universal health care so you don't go bankrupt.
@@notandyvee It does, and also how much anyone has saved. Without any statistics there's no way to figure out how they're doing it and the odds of them running out of money, and how you might be able to do it.
@@roachtoasties I'm confused. You want statistics and can presumably make sense of the data, yet you can't do your own research to find out how doable FIRE is? HA
@@memezoffuckery3207 I agree! People think it’s selfish but it’s not because they never try to answer this question: What do we do when there are too many people? Kill them all?
Except they didn't have student loans and they both made 6 figure salaries. This is incredibly unrealistic to most and a ploy to get people to buy their book...which also assists them in maintaining their lifestyle.
Andrew Demidov Carlin was a legend. In his later years I saw him as a visionary more than a comedian. He will be extremely difficult to replace. I definitely respect him more than any politician. He told it like it is and didn’t sugar coat anything
WAS a great role model with actual talent for teens to look up to. .....Now best known for showing up HOURS late, if at all, to all her performances and marrying a Marley.
Marie Ji I know many people who make that and never physically go into work. Anyone who can successfully run an online business never needs to go to an office.
Without any statistics in this video, for example even mentioning approximately how much money the first couple has saved, this story is useless. Nothing but a concept that has already been made into a video a thousand times. Nothing in here is new, but regurgitated stuff.
Look into FIRE movement and you'll understand. - Save 20-50% of your income and spend less = grow your gap - don't buy material consumer goods (cars, new gadgets, eating out) - but your money into investment vehicles so they do the work for you. ..... most americans don't do this
Let's be honest: It's impossible to be financially independent in the United States. No matter how 'secure' you are financially, one medical emergency or a long term fight with a serious disease like cancer will wipe that egotistical 'financially independent' smirk right off your face. These people will end up begging on 'Go Fund Me' the second anything even remotely serious happens to either one of them. And why didn't the reporter ask about health insurance (or lack thereof?). This was such a fluff piece that didn't ask anything critical.
Let's be even more honest. These people are rich kids from legacy money. Political consulting (aka corporate lobbying) is a bullshit job that only rich and connected people get. If you don't believe me, just look in your local classified ads for political consulting positions. They don't exist. Because political consultants are the nieces and nephews of CEO's whose job it is to bribe politicians with their uncle's money. These people didn't get rich from "wearing parkas in the winter to save money on heating". That's the most laughable, stupid lie ever which they only said to try and subtly encourage viewers to self-impose more austerity on themselves under the false delusion that it will somehow lead to a 7 figure retirement account if you save 50 bucks a month in heating for 6 years.
It's true. There was a news story a while back about a couple in Tennessee that followed all the rules, saved up a sizeable nest egg, and then the husband got cancer at 62 and it was wiped out in a matter of a few months due to medical bills. They had to declare bankruptcy.
By definition a millennial isa none who reaches young adulthood in the early 21st century which began in 2001. YA begins at age 18 so yo'd have to be born in 1983 to reach young adulthood by then. Which makes sense since 1983 is when the internet was founded.
The lady said she is retired and not working... sis stop it. You're still working on books, podcasts, etc and getting money from there. Unless she is doing these sessions for free (and maybe just charging to make it) I dont think she is completely retired. Its misleading to others who believe they can survive on their retirement.
Because it doesn't matter how much is earned. They said 50% was saved after tax. Based on that, you know that every year, they bought themselves 2 years of expenses. The one girl lives in Guatemala, so in other words she earned 6 years of Guatemalan living for each 1 year worked in the US.
Go into the FinancialIndependence subreddit on Reddit and you will see most of the people able to achieve FIRE at a young age earn around 200k a year and save very aggressively, around 60-70% savings rates. They also invest heavily into Index Funds in the stock market which provide a good return on average and a dividend in perpetuity once you have achieved you net-worth goal - Most people try to accumulate around $2,500,000 because at a 4% withrdrawl rate (From investment dividends) this will give you about 100k (pre-tax) to live on in perpetuity.
@@TheJokerOfSandwiches You're right about the index funds and the 4% safe withdrawal rate, but most of the normal people on the FIRE subreddit are not making $200K/year. People who make six figures are just the ones who most the most, whereas the majority of them make normal incomes of about $50K to $80K.
I left the corporate world at 29. In preparation, I used my paychecks to buy rental property and now focus on the things that I enjoy doing like ministry. Its not easy but freedom, joy, and peace, is worth much more than a paycheck
Alfredo Brown the advice I hear in videos like this one is preparation, increase income and live with less so you can choose your own path. Is that what you suggest?
@@vintagegirl3372 Actually, all I did was use my income for investments, have a low maintenance spouse, and be working towards a dream. I gave up my 401k plan and pension because i dont want to waste my dream building years. Understand that you cant have an aversion to risk and it is imperative that you be working to build something to replace the income you lost. Know your strengths, know your gifts, know your purpose, know your God and you'll never "work" a day in your life. Won't be easy but my life has so much more meaning now. Wouldn't trade it for the world
What money do you use to maintain the property. Does rent cover everything. How many do you need? I am on my way there, although like you said it is not easy and things come up that cost
maria thiede I have the same questions as you. I’ve been wanting to do this, and I see an opportunity, but so many questions like yours. Alfredo, help! Lol
That's great, I work abroad as a software developer, saving towards a small flat in Italy. Once you have your own flat in a relatively cheap country/city you will be fine even doing temporary free lance jobs to just pay the bills
Millennials are GenX’ers with internet access. We were called slackers for wanting a different lifestyle. I think if we had grown up with internet access we would have been able to be free at a younger age. Free spirit GenX’ers feel like the world has caught up to our way of thinking.🙌🏾
c. l. One example is the internet gives the opportunity for people to work anywhere. Within the next several years it's been projected there will be more freelancing jobs than ever. If you still don't see how the internet helps people live a freer life, I don't know what to tell you. Also, I am at the lower end of the GenX’er era.
Stephen Anthony Freer in the fact we aren't tethered to a desk or location, which is what this report was about. However, I see what you are saying and I don't necessarily disagree with you...technology has its pros and some pretty big brother cons.
9-5 work sucks the life out of you. I live in Europe and working part time would be ideal for me but it wouldn't cover my expenses, so I'm stuck at a full-time desk job, not seeing the light of day, waking up and repeating what feels like the same day over and over again... It's exhausting. It's great to be able to work for yourself and be independent, but not all of us are talented bloggers, youtubers or podcast people.
I’d disagree with you. I also live in Europe. I have a “9-5” job and enjoy my work, get paid really well and respected by my company and team. I’d hate the “hustle” of having to worry about my next pay check. Just saying... not all 9-5s are bad maybe it just didn’t fit you.
@@ambricem You're very lucky you feel that way, it's a good thing. Personnally it's not what I do that bothers me but all the time spent "locked in" an office - as I am somone who enjoys spending time outside, I would just love to be able to go to a park in the afternoon and lie in the grass or go and sit at a cafe terrace and just sip a cup of coffee. I try to do it on the weekends but between the grocery shopping, laundry, house cleaning and cooking there's very little time left. I know a lot of people are in the same situation as we talk a lot about being stuck in this rat race, just running round and round in a circle.
I'm confused on one thing: How can they claim to be financially independent by maximizing the retirement account if you can't access them until you're a senior? Sure you can access with fees added to them but that's a compromise no one really should take.
This is nothing new. As a single Mom without child support for more than 25 years, I was forced to sacrifice. With birth control, people now have a choice to actually improve their lives. Having kids is a real struggle.
These kids are spoiled/lucky. Try living this way when you have disabilities, chronic health issues, parents / families to take care of and other life struggles...
Wendy Liu EXXACCTTLLYY!! Thats whats missing in this video. Even if you dont have kids, people also have life illnesses or family to take care of. These kids have perfect families and all the freedom they want.
We all need to fight against the new laws they keep making against living in rvs or tiny homes, it's not fair and if you cant choose to live on a peace of land that's outside if an rv park how free are we? We have had to deal with code enforcement and moving to more low key areas with our RV just to live more simple.
I couldn't agree more. I live in an area where housing costs have increased exponentially, due to a large corporation moving here to receive a tax break. I have a bachelor's degree, but cannot afford to move out of my mom's small condo. As a 35 year old woman, I don't identify with the millenial generation for many reasons. However, I worked hard to get through high school and college with a disability and I feel like I should be able to live like an adult on my own. I would love tiny home, but this area would never allow it
My husband is Chinese and I am an American. We met while he was a student in America. I owned a stressful and ever depleting small business, and after he finished school he worked as an illustrator. American business has become more and more difficult and we both knew we would be working our entire lives and never retire if we kept going the same way. Too many roadblocks and red tape. His parents left him a small amount of money after graduation as a gift...So he took that and put it alongside the savings I had and we moved to China. Within 4 years we have been able to open 5 businesses here, no longer dealing with all the bureaucracy and able to enjoy a good life. I wish I could have done the same in America but after 15 years of dealing with the joint incompetence of far too many regulations, codes, city/county/state/federal requirements that tend to only fight each other, dated financial institutions, confusing and ever-changing tax laws, systematically errored healthcare system and a ton of other shit....No, I didn't want to deal anymore. I love my country, but the best choice I ever made was to think outside the box and take a chance. Luckily I can afford to travel and visit as often as I want, But I hope someday I can bring my business back and see things fixed. Until then, Don't worry, I still have my tax season to remind me of where I was born. Haha
I'm moving to China this summer for my career and I'm so very excited. The fact that my housing and transportation is paid for and waiting for me will put me light years ahead of my peers.@@iwanttosurvive3992
WOW! It's so sad that the country where everyone believes Anything is possible, when in reality. Yes, you can open a small business BUT you will be bought out by franchise or all the taxes! OUR COUNTRY IS NOT FOR THE POOR TO GROW INTO THE WEALTHY LEVEL. They give us just enough to be happy that we are doing good but wont let us be GREAT!
China has too few regulations and struggle to keep their citizens safe. I want a country where I can express myself if I do choose. You keep the communism, and I’ll keep my version of the American dream - play hard, work harder and fight to make my country better and safer for those who come after.
I couldn’t imagine moving to China. Even without having to learn more Mandarin, there’s the lawlessness, pollution, fake food that gives you cancer, apathy towards fellow human beings, females being kidnapped to become unwilling brides...the list goes on.
She’s not a millennial - she’s is a Xennial. The micro gen born between 1977 to 1983. Remembering times when everything was still analog. Didn’t have cell phone until after high school etc. Yes! We’re the ones you love to call Millennials - because everyone knows that label.
You just brought back memories for me like buying cassette tapes, VHS, Blockbuster Video Store, pay phones and pagers, listening to the radio, MTV for music videos, and a time when talent got you a record deal.
Well, the term "millennial" was created by two researchers in 1987, to describe kids in Kindergarten and 1st grade at the time. So 1981 on is millennial. It's meant to describe kids who would become adults around the millennium, or year 2000. So most millennials were born in the 80's, not 90's. The media has just co-opted the term to describe anyone young who hangs out on a cell phone, but that wasn't the original intent.
As a millennial I definitely recognize the downsides to 9-5 from my parents generation. My mom's health was affected because of it (carpal tunnel, bad shoulder, thyroid issue due to quick meals from exhaustion etc ). So it makes me wonder, if it is really worth it. Although we had a roof over our heads, It makes me hard to believe that selling our labor as cheap as we do will benefit us in the long run. Many times degenerative disease is cause by unhealthy lifestyle (stress, poor eating, lack of excercises) working 8+ hours plus commuting is taking so much time out of our day that could have been spending making our bodies and minds healthier. I think this generation just wants a solution. The closest solution I can find is save like a MF. Live like you are dirt poor (besides healthy food..which is an investment in yourself but even this doesn't have to be too much $ ). But basically drop out of the consumerist lifestyle as much as possible. I know it's not a fabulous solution. But live simple. Save the money you do make and look ahead for the next bigger opportunity. It's not all joyless ...you just have to get creative with your personal time to be able to properly unwind. I have a lot to say about this. I should write a blog.
When you make six figures and you’re single you can live off of 30000. How can this lady promote not spending your bonus income when she’s taking vacations all the time? This isn’t a fair story.
"When you make six figures and you’re single you can live off of 30000" You can live off of 30k while not being single and having kids. Just don't live in a high cost of living area. And it doesn't seem like the trips they are taking are expensive. Camping, hiking, skiing. Real expensive.
Completely unrealistic! They were making 6 figures plus per year! It’s easy to save making that kind of money! They are in the top 5 percent of earners give me a break
As someone who made minimum wage for years working shitty jobs, many of which were outside in the elements, my 9-5 job in a cushy climate controlled building is a dream come true. No sweating in the sun, no getting soaked in the rain or freezing in the winter cold. I love my 9-5 and wouldn't trade it for anything. If you've lived a priveleged life you might not know worse. I came from nothing so a decent job with benefits makes me feel like a millionaire
Thats because you're rich. Most millennials cannot afford any thing even close to this. We can barely afford to put food on the table. The 1% is out of control.
They likely worked for an consultant firm researching political data for election campaigns. It's an all day/night job that is a roller coaster. There is someone "always" running for office or prepping for it. Degrees for this work is in the political science field. The video probably changed their job roles so they didn't have to say where they worked previously to their "FIRE" lifestyle change. #gofigure
@@JK20239 depends on what school you go to. You're not gonna get that 100k job as a political consultant with a degree from second class state u easily.
@@ANonyMouse627 hmm that makes sense. But she is still getting funds. Retirement means not working at all. She could have worded it differently. Instead she could have said that she saved money to get paid to do things she loves or a part time job that she loves (but the pay isnt well)
This is the precise point that people get confused about. For many the "Financial Independence" piece means more than "Retire Early." Building the means to be self sustaining does not mean that you must "Retire Early." Maybe it means you can spend your time being a productive member of society in a way that brings you more personal happiness.
The moral of the story is... Look at us, we are stupid Millennials who figured out a way to avoid responsibilities, screw kids we are too busy being happy, we haven't matured yet so we'll travel and discover ourselves, and we'll help make the world a better place just because we exist. Idiots...
No the moral of the story is be financially responsible and persue the life you want. All the people mentioned cutting down their expenses to increase their savings so they can afford to do this. Stop keeping up with the Joneses and keep up with your savings and aspirations instead.
traditional careers are vital still. not everyone can be an "influencer" we still need doctors, nurses, teachers, cops, lawyers, etc
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i actually already figured this out except i don't make 6 figures so i still gotta work but i did do nothing and vacation for 10 months straight from april 2018 to feb 2019. def doing this again.
surfer dude Not entirely true. A lot of the people shown in this video are in other countries now, and most countries provide free (or very cheap) health care even to non-citizens/non-residents. I’m an American expat living in Sweden and my father had a heart attack while visiting me a few years ago. Even though he’s not Swedish he was only charged about $50 for all the medical treatment he received.
Everyone that says this is impossible needs to learn the concept of compound interest. Glad to have this conversation about financial literacy out there!
For all those hating, don’t. They took full advantage of their resources, including the use of social media which is open to all in the u.s., while being resourceful. Not everyone wants to join the rat race until they’re elderly, especially in a generation where ssi isn’t guaranteed for us. Y’all better learn a thing or two, finesse the times you live in and privilege we ALL possess. Don’t knock the next person for making the most out of their human experience. Perhaps question why you aren’t and how you can.
These people were rich kids born politically connected. Political consultants (aka lobbyists) are the nieces and nephews of CEO's who funnel their uncle's money to politicians in return for favors. They shouldn't even call it "retiring" because lobbying is not real work. Also, that bit about how they saved money by turning down the heat and wearing parkas inside was really funny. As if saving 50 bucks a month in heat will contribute to a 7 figure retirement. Seeing as how all news is propaganda, they probably just put that in there to encourage others into self-imposed austerity and deprivation so that they can lower collectively lower expectations and push the working class even further down while they rake in record profits and talk about saving the earth on private jets.
cryptokook what does have to do with you though? Have you examined what privileges you possess right now that someone in a third world country could say that YOU are spoiled for? Don’t let someone else’s resources blind you from realizing your own...
@@stumack9755 not many people know what that is nowadays cause the companies that give them are few and far between. It's an extra check an employers ( like I said, they're rare) gives out to their employees for working their butt off.
I am 59, no kids, no spouse. My jobs have never paid more than 33,000 per years, usually less. I will never be able to retire. These young people make me sick with their winning.
Jobs used to be worth the sacrifice, but now most companies just abuse their workforce. Benefits and work environments are crap and expectations are high.
Most companies are abusive and toxic. I got the hell outta corporate env. There is no life in corporate job with all politics, performance, reviews, stress, new things to learn constantly, job insecurity and competition. Bosses who abuse people since they depend on jobs..what corporate job offers??? Death and Disease early in life...
Umm no...this is so unrealistic to ordinary average working ppl. You really have to have a lot of privilege and head start in life compared to other ppl for this to even be an option.
I started with zero dollars at 18 coming from a family under the poverty line and retired in my 30s. I also support three other people, none of whom work. It’s not easy and maybe most people can’t do it, but privilege isn’t necessary nor is any sort of head start.
Not for nothing I don't want to discredit these people or knock them. But I don't see any black, asian, or latino folks doing this. I wish I did it would great to see. But it's difficult to empathize or be inspired by these people. Good for them though.
Because white people marry and pool their resources together. Blacks and Latinos do not. Unfortunately, white people are being heavily discriminated against in the workplace because they are being replaced by Chinese, Indians, and other immigrants. It’s understandable why they would want to leave the workforce.
MyNameIsNotImportant *Unfortunately, white people are being heavily discriminated against in the workplace because they are being replaced by Chinese, Indians, and other immigrants* That is called *outsourcing* and no one is being discriminated against when the ratio for white people to "minorities" are still great. Get your facts straight.
I find it interesting how people think Asians are and underprivileged minority and they seem to get away with not being questioned but Asians actually are the highest earners in the world that earn a lot more than white people
Financial independence is a number not an age. You need at least 25 times your yearly expenditures into a diversified ETF or Mutual fund such as VTSAX or VOO, You then withdrawal up to 4% perpetually assuming a 7% annual inflation adjusted return, see the S&P 500 which has averaged 10% since inception or 1926 - 2018. Your principal continues to grow to keep up with inflation and you live off a portion of the interest which is taxed at a much lower marginal rate, IE short term or long term gains vs medicare, social security and federal income tax, think 0-20% vs 20-40% on average. People always bitch about that the rich are getting richer and the poor are getting poorer... This is because once you reach the above mentioned formula thanks to capitalism and the 6th wonder of the world compound interest. That 25x living expense seed if you either work and continue to contribute or live below your 3-4% withdrawal rate will continue to grow and given enough time will reach a point where it would be damn hard to not be rich.. Now on the same token if you look at someone who lives paycheck to paycheck regardless of what they make will be eaten away constantly by inflation and time. Granted most companies do account for a annual raise for inflation, but that time in the market that's wasted every year not investing cannot really be made up for and as you get older requires more and more income / effort to catch up to.
Video should be titles "how growing up privileged led me to have no passion so now I'm living out of my car to try and find any sense of purpose," .... Shows how disconnected people are to homeless folks actually living out of their cars not just "living the van life," .... When the "van life" is ur only choice suddenly it's not the most appealing .
Thankfully I was able to start my own company. My husband owns his own company too. I was over having to be at a given place for a given amount of time.
Sitting in an office from 9-5 5 times a week is not an Ideal way to live. Its boring, repetitive, and don't forget about the traffic that you get to deal with when going to and leaving work.
It's always being *salty* or *hating*; when one speaks *facts.* The title is very misleading to begin with and all of these people had careers where they are not even considered to be "middle class." The narrative tries to covey one thing when the actual message is completely different. *Have a good career and save more than you spend, so you can retire early.* How the hell are you a "Burned-out millennials" when your 38?!?!?!
@@kierah6087 I agree that the segment should be renamed "One Generation X'er and 2 millenials demonstrate desires to forgo the traditionally celebrated paths in society by working hard, spending less, and choosing more independent career paths." There would probably still be some salty comments tho
A bunch of poor wage slaves in these comments, more like. If you haven’t worked a minimum wage job in the past 5 years, don’t talk. I worked waiting tables and in home care. I lived on ramen noodles and never made rent. Fuck off.
I think the point of this story is: Life sucks as a corporate slave, even if you are making great money. Love the life you live, live the life you love. These people want to live ( after they saved a bunch of money of course).
This is totally unrealistic for most people. I can’t imagine going through nursing school only to quit after 3 or 4 years. They’ll have to return to work if they have kids. What if your elderly parents need financial help when they reach their fourties or fifties? I guess these folks don’t give a crap about that. Very selfish and discouraging to me. That’s just my humble opinion though.
I use to live in the city. Then 9 years ago I saved up for a trailer and now I live in New Mexico living off the lands via retirement salary without wife nor kids. Even the recession didn't effect me. I never felt more Free. My advice, F the American dream, redefine your own happiness.
I guess they do not have parents (or even aging extended family?) to take care of like many of us? This definitely seems like a majority WASP 1%-3% thing...
Sheeeeeit, I’ve lived a debt-free, minimalist lifestyle for 11 years now and am currently saving 80% of my take-home pay and I still won’t be able to retire until I’m 93!
So what exactly does a "millennial" look like? Since they range in age from 23 to 38 and come from all different backgrounds, I'm pretty sure there is a lot of variation in their appearance!
@@mightbesherwood1313 they make more than most. What they do cannot be done by those living paycheck to paycheck and no i am not going to change my channel name to satisfy you
"focus on increasing your take-home pay every year"....HAHHAHAHA, I will make sure to pass that on to my boss. Not sure how you can already be burned out at 27 or 30's....I must be ash by now.
I had burnout problems before I was 20. Not the norm I hope. Worked over 30 hours a week while in high school and tried to keep that pace after graduation and into college and it was really bad for me. I got depressed and my health started to falter. It got to a point of debating whether being homeless would be any worse than how I felt toward my job and school. I dropped out and it was about a decade before I had the opportunity to go back. During that period, I had several jobs and now, having so many jobs has hurt my odds of getting interviews and the like. It feels like there's no win regardless of how hard you work or how qualified you are. It come down to luck so, dont have bad luck.
I work 13 or 14 hours shifts every day 7 days a week (with a half day on a Sunday). I never have to worry about being at my desk at 9am every day because my work starts at 6am.
honestly, doing this is possible for anyone who is willing to take on the life style. requirements are that you were smart enough to not take on a loan/debt, invest/know were to put your money at, live a minimal lifestyle, no kids, never eat out, no 5k+ car, and live below your means. you'll see yourself rack up a lot of money in 6 years
How many regular people at 38 can "retire" except very wealthy people? I don't know anyone who can do this and then go on a very expensive ski vacation. Most people before corporations get more greedy promised traditional pensions and didn't make the employee contribute a thing. I am getting one of those pensions right now. There is no way I could've saved for retirement and lived my life and most people are like that. I asked my father if he and mom "saved" for retirement and he said no - so this is a very new concept perpetuated by corporations who don't want to fund pensions but don't blink an eye paying their CEO's millions of dollars.
I have no desire to stop working, go on permanent vacations or live by myself in the tundra. I choose to be around others, invest in children and my fellow citizens. Saving money, consuming wisely I can appreciate.
Lots of ppl pay for it themselves by working multiple jobs through college or joining the military-that's what I did and I know many others do too. One girl interviewed did mention student loans. If we are smart with what school to go to and get a marketable degree, then we don't have to buy the lie that we have to take out student loans.
Must be nice, wish my family had generational wealth than maybe we too could just up and travel the world in our $80,000 mobile camper...Butt ugghh i guess good for them?...
Articles like this : "My husband is an exotic ferret wrangler, and I crochet used shopping bags into sleeping mats for the homeless....So naturally we have enough money all on our own to travel the world in early retirement."
My wife and i (29 and 36 years old) quit the 9 to 5 this year. We sold our house and quit our jobs. We have worked and saved money for years so that we could create a healthy financial starting position. We don't have children so that made it easier to save money. We are now traveling around Europe with our cat in our campervan, exploring beautiful places. We're also vlogging about this alternative lifestyle and we hope to encourage people who might be thinking about changing to a alternative lifestyle. This lifestyle is cheaper, but not free. So every now and then we work for a few months, to stay financial healthy, but also to contribute in local communities. For us, it has been the best decision we made in years. Lots of love, Leon and Miek
LOL and it all comes out at 4:40. Writing books, giving speeches and workshops... "passion projects". You have a job. You didn't retire, you're just self employed.
I’ve been working since I was 14 legally. I’ll be 35 this year. It is tiring, draining and exhausting on your soul and mind when you have to work a job you absolutely hate. The catch 22 is the job pays well but you cannot stand going to work and everyday feels like the day your going to say f- it and quit. It’s a good idea to figure out how to save money and then plan to make moves in the future. I’ve completely failed at this and having student loan debt sucks badly but at some point all of us in this same position need to start making moves to set ourselves up later to be comfortable. Not sure how much longer I can tolerate this lifestyle of “groundhogs day”.
FIRE isn’t for everyone. Companies require growth to produce the dividends that they pay to shareholders. They need workers and consumers to achieve this. Not everyone can be a by standing shareholder or the system would fail.
Curious as to why there were no questions asked about health insurance, children or elderly family members/parents and the financial dents that would occur if/when two of these three were in their lives and how it would impact their current lifestyle. What would be their plans for that?
Corporations: Millennials keep ditching their jobs when they're not happy, wtf! Also Corporations: Let's give them even less incentives to stay here. "Beth are you sure this is the lowest salary we can offer?"
I mean, if your working a 6 figure job its so easy to save fast and retire early. I work for a corporate company that pays pretty good but a lot of ppl live pay check to pay check. Even being single without kids is still a struggle. Companies don't want to give out raises and 401k grows soooooo slow. And as for traveling, alot jobs don't have the option to work from home. So they can't work on the road and travel in RV. I need to see a news story where someone making less than $50,000 gives ppl tips on how to travel, save fast and retire early.
Videos like this are so depressing. I grew up poor to a family hit hard by the opiate epidemic and alcoholism. My mother died from opiates and my dad is still a mean drunk. I've been struggling to keep a roof over my head for over 15 years, because of either not working enough or having to work up to three jobs (sometimes 70 hours a week) at a time. Nothing is steady, fair, or a safe bet anymore. This video is for the lucky few who can afford to take risk in these uncertain times. Mainstream news can be so out of touch sometimes.
I don’t give a $hitt how they present this...anybody earning enough to retire after 6 years of work doesn’t represent 95% percent of the rest of Americans, no matter how economically they have lived.
That's what I say... I with I could eve half my income.
Who can save half their after tax income anyway? Dont these people eat or have to pay rent and utilities?
They may not but that doesn't mean no one from the bottom has never made it to the top. I come from literally nothing, section 8 bull shit Wic and food pantries all my cousins sell dope and you know what I am 26 self taught software developer making almost 80k 3 years in I don't have no fucken college degree you know what I do have is hustle and drive to make it out and I focused until I found my lane. If the money is the problem go out and get you yours brother cause its out there. Once I hit that 100k in like 2 more years I'm tryna learn from these white ppl how to retire early.
Ugh, so can we please stop acting like the outlier is the norm? These people who all say, "well, I beat the odds therefore, it is an option for e everyone and anyone who struggles is a dumb, lazy, etc...." good for you. Glad it worked out for you. Now, there's of the world could use actual solutions. Not a lot of real advice out there though. Just a bunch of braggerts acting like they are flawless. Seriously, youwant to be impressive? Have some empathy instead of all that cynicism.
Uncle Sunbro it’s only not the norm because people like you are saying it’s so impossible there is nothing better than advice you can’t give people shit that’s just a fact of life and nobody owes you anything...a so called solution would be the school system doing a better job teaching real world knowledge etc but to be honest even then it’s going to be the same outcome because people are comfortable. I have friends from other countries that would laugh at your reply because honestly what would be your solution ?
This reminds me of the people on those house hunting shows. "My wife is a part time dog walker and I'm a knitter. Out budget is only $500,000. We have a modest budget..." 🤮🤮🤮🤮🤮🤮
Tell me about it.
Average salary for a political consultant in 2004: $100,000
These folks ain't average
In California sadly $500,000 is a modest budget 😅
Stephen Willis it’s true 🤣🤣
generational weatlth is why they can do this..other races could not afford to do this because of deiscrimation in jobs and housing and studies show home ownership has helped millions of white people move into the upper middle class
Anyone else notice they don’t have kids ?
Probably a good thing.
Also a planable thing
You can do this with kids, you probably are not going to be traveling all of the time, but settled down in some house in the woods.
Yeah, interesting. I live in southern california, i work 12 hour days, sleep 4-5 hours during the week and have been doing this for years. I am able to support myself yet I don’t have kids because I do not have the time to even date. It’s very sad but the reality is I have no choice but to work non stop right now, so it was probably a choice for them but it could also just be the way things have panned out.
@@laturista1000 Why do you assume that they want kids or are going to want kids in the future?
The goal of the older generation: SECURITY. The goal of the younger generation: HAPPINESS. I'm happy to see my peers finding ways out of the 9 to 5 cubicle slavery life.
Yet, most are depressed and have anxiety
So when they finally get to the "security" part, who is going to provide that for them? It's hard enough for a pregnant woman to return to the workforce and maintain an upward trajectory, so what about these free spirits who want to return 10 YEARS after not working?
There was no security in work when I graduated from college at the peak of the 2008 recession. I went back my retail job while I actively looked for something better. There was nothing better and I was lucky to have my job- people wanted my low end job. 10 years later, after so much soul searching and even returning to school, I've landed in working warehouses. I love my job and my life: work 3 days and making a liveable wage. Do my parents and siblings like my job? No, but they're not the ones paying my bills and living my life.
As you get older you'll learn that it's a balance and that security makes happiness a lot more tangible.
Exactly
i thought this about "regular" millennials, not "rich" millennials...
Everyone is just one illness away from losing their savings.
agmorgan yep! Happened to me
or market crash.... seriously.
yup
The sad truth of living in America. I keep reminding my European business partners that I actually have insurance!
Ditto. Lost my 401k at 25-26 due to Neuro Lyme Disease/Bartonella/Babesia/Rocky Mountain Spotted Fever infections that caused secondary problems like POTs/Dysautonomia, other nerve damage, and an immunocompromised state that made me succumb to fungal infections like Candida. This was all right after I gave birth to our child. Had to cash that 401k in for food and meds and couldn't work for 3 almost 4 years now.
Switched to minimalism, no fancy cars no mortgage no status ! Keeping up with the Jonses - forget about it! Living my life on my own rules!
I second this!!!
Exactly
The best!!!
V D.O. Depends On where you’re paying rent...yes it’s pricier than it ever has been anywhere, but for example vegas compared to anywhere in California, is totally affordable.
anglekan Vietnam has a good visa but air quality is pretty low. Although Da Nang looks beautiful
Lol. This doesn't really apply to the vast majority of millennials who are making $20,000-$40,000/yr and drowning in debt.
John W
You are just making excuses for yourself. If someone put a gun to your head and said they would shoot you if you didnt save half of your income every month, you would magically find a way to do it (even with a low salary). Stop playing the victim
It does if you are willing to work REALLY hard, maybe even extra hard and be smart about where you spend.
But also having HELP, does help.
Like for example parents or siblings who are well off and able to help.
So. There could be a point here.
@@shaneh9591 Chances are, if you have car payments. You already doing many things wrong.
@@topcomment3816 Also move away from the USA so no one has a gun pointed at your head and if you do get shot you have universal health care so you don't go bankrupt.
Nia Gillies
Great idea! I love the idea of having to wait three months in order to get a simple surgery! Brilliant!
They never asked the Salary they were making and they never asked what they had to give up.
Does it matter? They seem happy. It was the right choice for them. Does it make you feel better knowing they had to give something up?
@@charles910 Jealous much?
@@notandyvee It does, and also how much anyone has saved. Without any statistics there's no way to figure out how they're doing it and the odds of them running out of money, and how you might be able to do it.
@@roachtoasties I'm confused. You want statistics and can presumably make sense of the data, yet you can't do your own research to find out how doable FIRE is? HA
@@notandyvee they dont seem happy at all. it seems contrived. theyll be dead by 50 by murder suicide.
No kids!!! NO KIDS...repeat NO...KIDS...that is how you retire early & live your best life...again NO KIDS
People who do not have kids are freeloaders. They must be taxed heavily to support those who have kids.
Then who is going to hand you a cup of coffee when you're old and grey?
It’s their right to do so.
The less people there are, the more resources we will have in our disposal.
@@memezoffuckery3207 I agree! People think it’s selfish but it’s not because they never try to answer this question:
What do we do when there are too many people? Kill them all?
@@RK-ve4xp they already are 😂 no child tax credits, property taxes for schools they'll never use, etc
Except they didn't have student loans and they both made 6 figure salaries. This is incredibly unrealistic to most and a ploy to get people to buy their book...which also assists them in maintaining their lifestyle.
Screw them over and get the book for free from a local library.
Yep. They are trying to get rich from the book. Although I wont tax them for doing what they did, im not gonna help them gain wealth.
So the key is... money still
But okay
obviously. they always leave that part out.
Dean Cartwright outside the box. Independence isn’t a 9 to 5. They’re teaching kids nothing practical in school anymore.
Right.
Dean Cartwright exactly
@Dordana Hakimzadah are you sure you read that right?
This literally only applies to people with good careers
Right! I got that as well so it's like of course they could do it because they were making over 50K to begin with and have no kids
50k is low even w/ no kids. @@kierah6087
@@stumack9755 lol that's why I said over 50k. Most people around my age don't even make that as it stands
@@stumack9755 50k is pretty good in Texas. It depends on the cost of living.
@@kierah6087 well said!
It’s called the “American dream” because you gotta be asleep to believe it
Carlin
George Carlin Quote. He's a great comedian
Andrew Demidov Carlin was a legend. In his later years I saw him as a visionary more than a comedian. He will be extremely difficult to replace. I definitely respect him more than any politician. He told it like it is and didn’t sugar coat anything
So true !!!! 🤣😂 I gotta use this one
Carlin was a bitter atheist dumbass
"The System is a Joke" - Lauryn Hill
she's a joke.
@@stumack9755 no shes not
She’s a wise woman ❤️
WAS a great role model with actual talent for teens to look up to.
.....Now best known for showing up HOURS late, if at all, to all her performances and marrying a Marley.
Lauryn Hill didn’t pay her taxes
I mean people have been doing this stuff for centuries all of sudden its new trend for millennials lol
Matthew Alkman huh?
Only a small number of people could do this in the past. The internet allows more people to work remotely
@@naomiwilliams8850 I have 2 relatives that make 6 figures working remotely. They only physically go in to work for 1-3 days a week.
Marie Ji I know many people who make that and never physically go into work. Anyone who can successfully run an online business never needs to go to an office.
@@OriginalGrasshopper true. I met a group of people that are ebay sellers and they all make enough to quit the 9-5.
Without any statistics in this video, for example even mentioning approximately how much money the first couple has saved, this story is useless. Nothing but a concept that has already been made into a video a thousand times. Nothing in here is new, but regurgitated stuff.
they saved 768 000 US dollars in 6 years by saving 70% of their salary
Look into FIRE movement and you'll understand.
- Save 20-50% of your income and spend less = grow your gap
- don't buy material consumer goods (cars, new gadgets, eating out)
- but your money into investment vehicles so they do the work for you.
..... most americans don't do this
Kristen Young Good advice. I’m looking into this.
@@ALCAN52 f**k living like that. Except the travelling part
@@ALCAN52 excellent
Let's be honest: It's impossible to be financially independent in the United States. No matter how 'secure' you are financially, one medical emergency or a long term fight with a serious disease like cancer will wipe that egotistical 'financially independent' smirk right off your face. These people will end up begging on 'Go Fund Me' the second anything even remotely serious happens to either one of them. And why didn't the reporter ask about health insurance (or lack thereof?). This was such a fluff piece that didn't ask anything critical.
Well said. This was lame. Felt more like something you would see on HGTV or the travel channel.
Let's be even more honest. These people are rich kids from legacy money. Political consulting (aka corporate lobbying) is a bullshit job that only rich and connected people get. If you don't believe me, just look in your local classified ads for political consulting positions. They don't exist. Because political consultants are the nieces and nephews of CEO's whose job it is to bribe politicians with their uncle's money. These people didn't get rich from "wearing parkas in the winter to save money on heating". That's the most laughable, stupid lie ever which they only said to try and subtly encourage viewers to self-impose more austerity on themselves under the false delusion that it will somehow lead to a 7 figure retirement account if you save 50 bucks a month in heating for 6 years.
It's true. There was a news story a while back about a couple in Tennessee that followed all the rules, saved up a sizeable nest egg, and then the husband got cancer at 62 and it was wiped out in a matter of a few months due to medical bills. They had to declare bankruptcy.
You're not a millennial if you're 40 + That's Gen X
🤣🤣
By definition a millennial isa none who reaches young adulthood in the early 21st century which began in 2001. YA begins at age 18 so yo'd have to be born in 1983 to reach young adulthood by then. Which makes sense since 1983 is when the internet was founded.
Must be nice to be financially independent. Thanks for reminding us that we are all wage slaves ABC.
We are free. We are free to work or quit. We have all the freedom in modern world...
@@RK-ve4xp get real... we need to work in order to eat...we have freedom 'till a certain extent
I will have to work up until the day of my funeral & then for 3 hours after!
This should be top comment for this bs fluff pieces that applies to no one in the real world.
Hopefully you will get overtime for those 3 hours.
Lmbo... you are too funny. Not 3 days after--😂😂😂
Bwahhhhhhhhhh
😅😅😅
How much did they earn exactly?
Hate how these vids suggest they did ot by cutting back with a few coupons or so...
Musleading crap
The lady said she is retired and not working... sis stop it. You're still working on books, podcasts, etc and getting money from there. Unless she is doing these sessions for free (and maybe just charging to make it) I dont think she is completely retired. Its misleading to others who believe they can survive on their retirement.
Because it doesn't matter how much is earned. They said 50% was saved after tax. Based on that, you know that every year, they bought themselves 2 years of expenses. The one girl lives in Guatemala, so in other words she earned 6 years of Guatemalan living for each 1 year worked in the US.
Go into the FinancialIndependence subreddit on Reddit and you will see most of the people able to achieve FIRE at a young age earn around 200k a year and save very aggressively, around 60-70% savings rates. They also invest heavily into Index Funds in the stock market which provide a good return on average and a dividend in perpetuity once you have achieved you net-worth goal - Most people try to accumulate around $2,500,000 because at a 4% withrdrawl rate (From investment dividends) this will give you about 100k (pre-tax) to live on in perpetuity.
@@TheJokerOfSandwiches You're right about the index funds and the 4% safe withdrawal rate, but most of the normal people on the FIRE subreddit are not making $200K/year. People who make six figures are just the ones who most the most, whereas the majority of them make normal incomes of about $50K to $80K.
I left the corporate world at 29. In preparation, I used my paychecks to buy rental property and now focus on the things that I enjoy doing like ministry. Its not easy but freedom, joy, and peace, is worth much more than a paycheck
Alfredo Brown the advice I hear in videos like this one is preparation, increase income and live with less so you can choose your own path. Is that what you suggest?
@@vintagegirl3372 Actually, all I did was use my income for investments, have a low maintenance spouse, and be working towards a dream. I gave up my 401k plan and pension because i dont want to waste my dream building years. Understand that you cant have an aversion to risk and it is imperative that you be working to build something to replace the income you lost. Know your strengths, know your gifts, know your purpose, know your God and you'll never "work" a day in your life. Won't be easy but my life has so much more meaning now. Wouldn't trade it for the world
This is beautiful and quite inspiring!
What money do you use to maintain the property. Does rent cover everything. How many do you need? I am on my way there, although like you said it is not easy and things come up that cost
maria thiede I have the same questions as you. I’ve been wanting to do this, and I see an opportunity, but so many questions like yours. Alfredo, help! Lol
That's great, I work abroad as a software developer, saving towards a small flat in Italy. Once you have your own flat in a relatively cheap country/city you will be fine even doing temporary free lance jobs to just pay the bills
@bangmeister2012 Duh! Aside from all the other cool things.
@bangmeister2012 Oh, I dunno, the food, the wine, the beer, the women, the culture, the rich history, the beautiful scenery, etc.
I'm 28. At 25 I was so burned out and terrified that I had 30+ more years of bad jobs, I went part time. Awesome decision for me!
Part time is great but is it good money?
Honestly asking
Millennials are GenX’ers with internet access. We were called slackers for wanting a different lifestyle. I think if we had grown up with internet access we would have been able to be free at a younger age. Free spirit GenX’ers feel like the world has caught up to our way of thinking.🙌🏾
Millennials and the lower part of genX did grow up with the internet? What does the internet have to do with being free?
c. l. One example is the internet gives the opportunity for people to work anywhere. Within the next several years it's been projected there will be more freelancing jobs than ever. If you still don't see how the internet helps people live a freer life, I don't know what to tell you. Also, I am at the lower end of the GenX’er era.
I dont know if I would call a technology driven society "free". We have become very crippled in so many ways due to the internet and technology.
Stephen Anthony Freer in the fact we aren't tethered to a desk or location, which is what this report was about. However, I see what you are saying and I don't necessarily disagree with you...technology has its pros and some pretty big brother cons.
That’s what I was thinking!
9-5 work sucks the life out of you. I live in Europe and working part time would be ideal for me but it wouldn't cover my expenses, so I'm stuck at a full-time desk job, not seeing the light of day, waking up and repeating what feels like the same day over and over again... It's exhausting. It's great to be able to work for yourself and be independent, but not all of us are talented bloggers, youtubers or podcast people.
🙌
I’d disagree with you. I also live in Europe. I have a “9-5” job and enjoy my work, get paid really well and respected by my company and team. I’d hate the “hustle” of having to worry about my next pay check. Just saying... not all 9-5s are bad maybe it just didn’t fit you.
@@ambricem You're very lucky you feel that way, it's a good thing. Personnally it's not what I do that bothers me but all the time spent "locked in" an office - as I am somone who enjoys spending time outside, I would just love to be able to go to a park in the afternoon and lie in the grass or go and sit at a cafe terrace and just sip a cup of coffee. I try to do it on the weekends but between the grocery shopping, laundry, house cleaning and cooking there's very little time left. I know a lot of people are in the same situation as we talk a lot about being stuck in this rat race, just running round and round in a circle.
Join a community group or do charity
We can't all entertain each other in a massive loop. Someone has to do the real work
I'm confused on one thing: How can they claim to be financially independent by maximizing the retirement account if you can't access them until you're a senior? Sure you can access with fees added to them but that's a compromise no one really should take.
I quit my 9 to 5 and only work part time, best decision ever. Live beneath your needs and you will have a good life.
Could you elaborate more about working in a part time job?
She is a millennial??! Hmmm i don’t know...
The oldest millennials are almost 40
The oldest Millennials are 38 as of 2019.
Nope. Go by year. 1981 is the oldest. I'm 38 going on 39 (1980) and I'm not a millennial. Gen X aka breakfast club cassette tapes era
tee b yeah i know a guy that age he considers himself a generation x er.
@_dell NO.
This is nothing new. As a single Mom without child support for more than 25 years, I was forced to sacrifice. With birth control, people now have a choice to actually improve their lives. Having kids is a real struggle.
more people choose living over just existing
These kids are spoiled/lucky. Try living this way when you have disabilities, chronic health issues, parents / families to take care of and other life struggles...
Wendy Liu EXXACCTTLLYY!! Thats whats missing in this video. Even if you dont have kids, people also have life illnesses or family to take care of. These kids have perfect families and all the freedom they want.
These people are pushing 40 and have probably been working for two decades
@@RGLover641 i wish that they would do something like helping out people in need/ giving back to their communities....
We all need to fight against the new laws they keep making against living in rvs or tiny homes, it's not fair and if you cant choose to live on a peace of land that's outside if an rv park how free are we?
We have had to deal with code enforcement and moving to more low key areas with our RV just to live more simple.
I couldn't agree more. I live in an area where housing costs have increased exponentially, due to a large corporation moving here to receive a tax break. I have a bachelor's degree, but cannot afford to move out of my mom's small condo. As a 35 year old woman, I don't identify with the millenial generation for many reasons. However, I worked hard to get through high school and college with a disability and I feel like I should be able to live like an adult on my own. I would love tiny home, but this area would never allow it
@@stewarln52284 then move somewhere cheaper
The system is not set up for u to live off the grid and be free
@@ajniraNina I would if I could. My son's father lives here and due to custody arrangements, I can't.
@@ajniraNina oh wow, bet she never thought of thaat before. Just "move." Lol. Like it's that simple and easy.
My husband is Chinese and I am an American. We met while he was a student in America. I owned a stressful and ever depleting small business, and after he finished school he worked as an illustrator. American business has become more and more difficult and we both knew we would be working our entire lives and never retire if we kept going the same way. Too many roadblocks and red tape. His parents left him a small amount of money after graduation as a gift...So he took that and put it alongside the savings I had and we moved to China. Within 4 years we have been able to open 5 businesses here, no longer dealing with all the bureaucracy and able to enjoy a good life. I wish I could have done the same in America but after 15 years of dealing with the joint incompetence of far too many regulations, codes, city/county/state/federal requirements that tend to only fight each other, dated financial institutions, confusing and ever-changing tax laws, systematically errored healthcare system and a ton of other shit....No, I didn't want to deal anymore. I love my country, but the best choice I ever made was to think outside the box and take a chance. Luckily I can afford to travel and visit as often as I want, But I hope someday I can bring my business back and see things fixed. Until then, Don't worry, I still have my tax season to remind me of where I was born. Haha
Tyler M Good Job!!!! Keep Going!!!!
I'm moving to China this summer for my career and I'm so very excited. The fact that my housing and transportation is paid for and waiting for me will put me light years ahead of my peers.@@iwanttosurvive3992
WOW! It's so sad that the country where everyone believes Anything is possible, when in reality. Yes, you can open a small business BUT you will be bought out by franchise or all the taxes! OUR COUNTRY IS NOT FOR THE POOR TO GROW INTO THE WEALTHY LEVEL. They give us just enough to be happy that we are doing good but wont let us be GREAT!
China has too few regulations and struggle to keep their citizens safe. I want a country where I can express myself if I do choose. You keep the communism, and I’ll keep my version of the American dream - play hard, work harder and fight to make my country better and safer for those who come after.
I couldn’t imagine moving to China. Even without having to learn more Mandarin, there’s the lawlessness, pollution, fake food that gives you cancer, apathy towards fellow human beings, females being kidnapped to become unwilling brides...the list goes on.
She’s not a millennial - she’s is a Xennial. The micro gen born between 1977 to 1983. Remembering times when everything was still analog. Didn’t have cell phone until after high school etc. Yes! We’re the ones you love to call Millennials - because everyone knows that label.
You just brought back memories for me like buying cassette tapes, VHS, Blockbuster Video Store, pay phones and pagers, listening to the radio, MTV for music videos, and a time when talent got you a record deal.
Lulu Smith um neither did I and I was born in 1986. No Facebook. Used encyclopedias and the library. Very little to no internet.
earth ocean were hybrids then
Lol Generations like Pokemon.
Well, the term "millennial" was created by two researchers in 1987, to describe kids in Kindergarten and 1st grade at the time. So 1981 on is millennial. It's meant to describe kids who would become adults around the millennium, or year 2000. So most millennials were born in the 80's, not 90's. The media has just co-opted the term to describe anyone young who hangs out on a cell phone, but that wasn't the original intent.
As a millennial I definitely recognize the downsides to 9-5 from my parents generation. My mom's health was affected because of it (carpal tunnel, bad shoulder, thyroid issue due to quick meals from exhaustion etc ). So it makes me wonder, if it is really worth it. Although we had a roof over our heads, It makes me hard to believe that selling our labor as cheap as we do will benefit us in the long run. Many times degenerative disease is cause by unhealthy lifestyle (stress, poor eating, lack of excercises) working 8+ hours plus commuting is taking so much time out of our day that could have been spending making our bodies and minds healthier. I think this generation just wants a solution. The closest solution I can find is save like a MF. Live like you are dirt poor (besides healthy food..which is an investment in yourself but even this doesn't have to be too much $ ). But basically drop out of the consumerist lifestyle as much as possible. I know it's not a fabulous solution. But live simple. Save the money you do make and look ahead for the next bigger opportunity. It's not all joyless ...you just have to get creative with your personal time to be able to properly unwind. I have a lot to say about this. I should write a blog.
When you make six figures and you’re single you can live off of 30000. How can this lady promote not spending your bonus income when she’s taking vacations all the time? This isn’t a fair story.
"When you make six figures and you’re single you can live off of 30000"
You can live off of 30k while not being single and having kids. Just don't live in a high cost of living area. And it doesn't seem like the trips they are taking are expensive. Camping, hiking, skiing. Real expensive.
Completely unrealistic! They were making 6 figures plus per year! It’s easy to save making that kind of money! They are in the top 5 percent of earners give me a break
As someone who made minimum wage for years working shitty jobs, many of which were outside in the elements, my 9-5 job in a cushy climate controlled building is a dream come true. No sweating in the sun, no getting soaked in the rain or freezing in the winter cold. I love my 9-5 and wouldn't trade it for anything. If you've lived a priveleged life you might not know worse. I came from nothing so a decent job with benefits makes me feel like a millionaire
Thats because you're rich. Most millennials cannot afford any thing even close to this. We can barely afford to put food on the table. The 1% is out of control.
chemicalsam u don’t have to be rich to have a dream
POLITICAL CONSULTANTS?????
Forreal... What bullshit
They likely worked for an consultant firm researching political data for election campaigns. It's an all day/night job that is a roller coaster. There is someone "always" running for office or prepping for it. Degrees for this work is in the political science field. The video probably changed their job roles so they didn't have to say where they worked previously to their "FIRE" lifestyle change. #gofigure
@@AskMiko yet someone else with a polisci degree is working at Starbucks....hahsha
Yeah... Me too! I too consult politically!! While snorkeling and minding my emails..
@@JK20239 depends on what school you go to. You're not gonna get that 100k job as a political consultant with a degree from second class state u easily.
To me, she seems to be still working. Just because you stopped working a $heety job and started working for yourself, it doesn’t mean you retired 😂
I guess the point is, she's working because she wants to, not because she needs to pay the bills. That's financial freedom.
Depends upon who you are referring to. The chick doing the podcast and a blog is probably not making much money, if any. Very hard to monetize.
I said the same thing. It can be misleading for others who truly believe they can survive on their retirement.
@@ANonyMouse627 hmm that makes sense. But she is still getting funds. Retirement means not working at all. She could have worded it differently. Instead she could have said that she saved money to get paid to do things she loves or a part time job that she loves (but the pay isnt well)
This is the precise point that people get confused about. For many the "Financial Independence" piece means more than "Retire Early." Building the means to be self sustaining does not mean that you must "Retire Early." Maybe it means you can spend your time being a productive member of society in a way that brings you more personal happiness.
I am so proud of this group of people. Live on your own terms!!
So....retirement in their 30's?? What happens when they live to their 80's? They saved enough to not work for 50 years?? Wow! I'm impressed.😉👍
Decent salaries, financing your life right, living below your means to save, and double income with no kids- most people could live comfortably.
Yessir! A side hustle helps too.
Huh, so if you have a lot of money you can do anything you want especially if you skip having kids? Is that the moral of the story?
The moral of the story is... Look at us, we are stupid Millennials who figured out a way to avoid responsibilities, screw kids we are too busy being happy, we haven't matured yet so we'll travel and discover ourselves, and we'll help make the world a better place just because we exist. Idiots...
No the moral of the story is be financially responsible and persue the life you want. All the people mentioned cutting down their expenses to increase their savings so they can afford to do this. Stop keeping up with the Joneses and keep up with your savings and aspirations instead.
@@jellybeans9283 well said
Sounds good to me
@@charles910 fucking boomers…
traditional careers are vital still. not everyone can be an "influencer" we still need doctors, nurses, teachers, cops, lawyers, etc
i actually already figured this out except i don't make 6 figures so i still gotta work but i did do nothing and vacation for 10 months straight from april 2018 to feb 2019. def doing this again.
shantédidathing would you mind sharing ?
I'm a millennial making a 6 figure salary. I do enjoy my work but corporate America does come with problems. I would not want to retire early.
I want to know the percentage of people who are making good money that do this. I don't want to work a job....hell who does.
I don't want to do any of that. And how many people really replace their income. More people trying to sell the idea i think
@bangmeister2012 but thanks for the reply. I get what your saying
One question. Did they say anything about health insurance? I muted my phone.
surfer dude Not entirely true. A lot of the people shown in this video are in other countries now, and most countries provide free (or very cheap) health care even to non-citizens/non-residents.
I’m an American expat living in Sweden and my father had a heart attack while visiting me a few years ago. Even though he’s not Swedish he was only charged about $50 for all the medical treatment he received.
Everyone that says this is impossible needs to learn the concept of compound interest. Glad to have this conversation about financial literacy out there!
For all those hating, don’t. They took full advantage of their resources, including the use of social media which is open to all in the u.s., while being resourceful. Not everyone wants to join the rat race until they’re elderly, especially in a generation where ssi isn’t guaranteed for us. Y’all better learn a thing or two, finesse the times you live in and privilege we ALL possess. Don’t knock the next person for making the most out of their human experience. Perhaps question why you aren’t and how you can.
These people were rich kids born politically connected. Political consultants (aka lobbyists) are the nieces and nephews of CEO's who funnel their uncle's money to politicians in return for favors. They shouldn't even call it "retiring" because lobbying is not real work. Also, that bit about how they saved money by turning down the heat and wearing parkas inside was really funny. As if saving 50 bucks a month in heat will contribute to a 7 figure retirement. Seeing as how all news is propaganda, they probably just put that in there to encourage others into self-imposed austerity and deprivation so that they can lower collectively lower expectations and push the working class even further down while they rake in record profits and talk about saving the earth on private jets.
cryptokook what does have to do with you though? Have you examined what privileges you possess right now that someone in a third world country could say that YOU are spoiled for? Don’t let someone else’s resources blind you from realizing your own...
Can you make this video again and add " Save any bonus you get" too so I can show it to my husband?! Lol
whats a bonu$?
@@stumack9755 not many people know what that is nowadays cause the companies that give them are few and far between. It's an extra check an employers ( like I said, they're rare) gives out to their employees for working their butt off.
I am 59, no kids, no spouse. My jobs have never paid more than 33,000 per years, usually less. I will never be able to retire. These young people make me sick with their winning.
What do you do for work?
Roger clerical work and domestic violence and sexual assault advocate.
The media doesn't talk about my generation(X), they just talk about boomers then skip over to millennials. I guess we're the forgotten generation.
Jobs used to be worth the sacrifice, but now most companies just abuse their workforce. Benefits and work environments are crap and expectations are high.
Most companies are abusive and toxic. I got the hell outta corporate env. There is no life in corporate job with all politics, performance, reviews, stress, new things to learn constantly, job insecurity and competition. Bosses who abuse people since they depend on jobs..what corporate job offers??? Death and Disease early in life...
Umm no...this is so unrealistic to ordinary average working ppl. You really have to have a lot of privilege and head start in life compared to other ppl for this to even be an option.
I started with zero dollars at 18 coming from a family under the poverty line and retired in my 30s. I also support three other people, none of whom work. It’s not easy and maybe most people can’t do it, but privilege isn’t necessary nor is any sort of head start.
Not true. It's hard work, and a lot of frugality, but average people can do this.
Go get some privilege then. And swing it like a hammer.
"Privilege" is just a strawman for those too lazy to take responsibility for their life.
"Move out of the New York and the Bay Area, You'll have plenty of money.
im one of those millennials. I stuck it out in this horrible job, and i can relate in so many levels.
Ebizzill I work at my local arbies for 10.50 an hour. What do you make and where do you work?
Not for nothing I don't want to discredit these people or knock them. But I don't see any black, asian, or latino folks doing this. I wish I did it would great to see. But it's difficult to empathize or be inspired by these people. Good for them though.
Because white people marry and pool their resources together. Blacks and Latinos do not. Unfortunately, white people are being heavily discriminated against in the workplace because they are being replaced by Chinese, Indians, and other immigrants. It’s understandable why they would want to leave the workforce.
Jude Wilson I said the same damn thing!
MyNameIsNotImportant *Unfortunately, white people are being heavily discriminated against in the workplace because they are being replaced by Chinese, Indians, and other immigrants* That is called *outsourcing* and no one is being discriminated against when the ratio for white people to "minorities" are still great. Get your facts straight.
There are plenty on TH-cam with their own channels seeking financial freedom
I find it interesting how people think Asians are and underprivileged minority and they seem to get away with not being questioned but Asians actually are the highest earners in the world that earn a lot more than white people
What is their idea of a healthy retirement? Please do a follow up story on these geniuses in 20 years!
They got rich parents who will drop dead in the next 20 years.
Financial independence is a number not an age. You need at least 25 times your yearly expenditures into a diversified ETF or Mutual fund such as VTSAX or VOO, You then withdrawal up to 4% perpetually assuming a 7% annual inflation adjusted return, see the S&P 500 which has averaged 10% since inception or 1926 - 2018. Your principal continues to grow to keep up with inflation and you live off a portion of the interest which is taxed at a much lower marginal rate, IE short term or long term gains vs medicare, social security and federal income tax, think 0-20% vs 20-40% on average. People always bitch about that the rich are getting richer and the poor are getting poorer... This is because once you reach the above mentioned formula thanks to capitalism and the 6th wonder of the world compound interest. That 25x living expense seed if you either work and continue to contribute or live below your 3-4% withdrawal rate will continue to grow and given enough time will reach a point where it would be damn hard to not be rich.. Now on the same token if you look at someone who lives paycheck to paycheck regardless of what they make will be eaten away constantly by inflation and time. Granted most companies do account for a annual raise for inflation, but that time in the market that's wasted every year not investing cannot really be made up for and as you get older requires more and more income / effort to catch up to.
@@Jcapwell92 now all you need is to build up 25x your annual expenses.
Video should be titles "how growing up privileged led me to have no passion so now I'm living out of my car to try and find any sense of purpose," .... Shows how disconnected people are to homeless folks actually living out of their cars not just "living the van life," .... When the "van life" is ur only choice suddenly it's not the most appealing .
Well she's still making money with her books and work shops... 😂, shes selling an independence dream...
🤣🤣🤣
This segment “White Privileged” is sponsored by Lori Loughlin & friends 👭.
simeon310 OMG. I’m optimistic that this is attainable for any race, but this comment is HILARIOUS 😂😂😂😂😂
It is attainable by any race but “disproportionately” is the word to keep in mind.
simeon310 ha! Gurl , rich white privilege ! Not just white privilege
Let me guess there parents are retired? NOT😠
Until this country treats everyone the same this will only be attainable to the Privileged. #Facts
Thankfully I was able to start my own company. My husband owns his own company too. I was over having to be at a given place for a given amount of time.
Sitting in an office from 9-5 5 times a week is not an Ideal way to live. Its boring, repetitive, and don't forget about the traffic that you get to deal with when going to and leaving work.
Bet none of them have health insurance. One hospital visit and they will be clawing to be a Walmart greeter......
A bunch of salty people in these comments
It's always being *salty* or *hating*; when one speaks *facts.* The title is very misleading to begin with and all of these people had careers where they are not even considered to be "middle class." The narrative tries to covey one thing when the actual message is completely different. *Have a good career and save more than you spend, so you can retire early.* How the hell are you a "Burned-out millennials" when your 38?!?!?!
@@kierah6087 I agree that the segment should be renamed "One Generation X'er and 2 millenials demonstrate desires to forgo the traditionally celebrated paths in society by working hard, spending less, and choosing more independent career paths." There would probably still be some salty comments tho
@Katie Shockley lol true that true that. You know some people aren't ever truly satisfied; not with themselves or any one else's success😂😂
@@kierah6087 its acheivable for middle and lower class as well but unless theres some special advantage it would take 10-20 years usually
A bunch of poor wage slaves in these comments, more like. If you haven’t worked a minimum wage job in the past 5 years, don’t talk. I worked waiting tables and in home care. I lived on ramen noodles and never made rent. Fuck off.
Do POC even get a shot at such careers, education?
Not typically.
Well if we try, we can maybe achieve it
All the time. We just ignore out shots. lol
The way I see it, If privileged people want to bow out to travel the world🤷🏾♀️that’s more job options for POC
I think the point of this story is: Life sucks as a corporate slave, even if you are making great money. Love the life you live, live the life you love. These people want to live ( after they saved a bunch of money of course).
This is totally unrealistic for most people. I can’t imagine going through nursing school only to quit after 3 or 4 years. They’ll have to return to work if they have kids. What if your elderly parents need financial help when they reach their fourties or fifties? I guess these folks don’t give a crap about that. Very selfish and discouraging to me. That’s just my humble opinion though.
I use to live in the city. Then 9 years ago I saved up for a trailer and now I live in New Mexico living off the lands via retirement salary without wife nor kids. Even the recession didn't effect me. I never felt more Free. My advice, F the American dream, redefine your own happiness.
Best decision ever...
Burned out Millenials?
They’ve only been in the workforce for around 10 years..
Burnt out because they work from 9-9 everyday for 10 years....
I guess they do not have parents (or even aging extended family?) to take care of like many of us?
This definitely seems like a majority WASP 1%-3% thing...
Exactly..... What about POC
Exactly. I’m working two jobs right now to support myself and my mother.
Eddie Bacon That’s a very European American way of living. Minority cultures aren’t based on rugged individualism... much more communally based.
Just had to take in my mother who lost her pension, then her job, then her house. We live simply, but health care ain't free.
Sheeeeeit, I’ve lived a debt-free, minimalist lifestyle for 11 years now and am currently saving 80% of my take-home pay and I still won’t be able to retire until I’m 93!
Retirement is a thing? I always assumed you worked until you die.
Political consultants? She doesn’t even look like a Millennial! Most of them are getting bailed out by parents all the time.
So what exactly does a "millennial" look like? Since they range in age from 23 to 38 and come from all different backgrounds, I'm pretty sure there is a lot of variation in their appearance!
They all had 6 figure jobs. Regular people cant do it
Publicists make jack. Nice user name, maybe change it, start the spring.
@@mightbesherwood1313 they make more than most. What they do cannot be done by those living paycheck to paycheck and no i am not going to change my channel name to satisfy you
"focus on increasing your take-home pay every year"....HAHHAHAHA, I will make sure to pass that on to my boss.
Not sure how you can already be burned out at 27 or 30's....I must be ash by now.
I had burnout problems before I was 20. Not the norm I hope. Worked over 30 hours a week while in high school and tried to keep that pace after graduation and into college and it was really bad for me. I got depressed and my health started to falter. It got to a point of debating whether being homeless would be any worse than how I felt toward my job and school. I dropped out and it was about a decade before I had the opportunity to go back. During that period, I had several jobs and now, having so many jobs has hurt my odds of getting interviews and the like. It feels like there's no win regardless of how hard you work or how qualified you are. It come down to luck so, dont have bad luck.
I work 13 or 14 hours shifts every day 7 days a week (with a half day on a Sunday). I never have to worry about being at my desk at 9am every day because my work starts at 6am.
honestly, doing this is possible for anyone who is willing to take on the life style. requirements are that you were smart enough to not take on a loan/debt, invest/know were to put your money at, live a minimal lifestyle, no kids, never eat out, no 5k+ car, and live below your means. you'll see yourself rack up a lot of money in 6 years
Very true..
They graduated with no student loans and their parents are their safety net
ABC, how do you not have captions available for your videos!?
How many regular people at 38 can "retire" except very wealthy people? I don't know anyone who can do this and then go on a very expensive ski vacation. Most people before corporations get more greedy promised traditional pensions and didn't make the employee contribute a thing. I am getting one of those pensions right now. There is no way I could've saved for retirement and lived my life and most people are like that. I asked my father if he and mom "saved" for retirement and he said no - so this is a very new concept perpetuated by corporations who don't want to fund pensions but don't blink an eye paying their CEO's millions of dollars.
I have no desire to stop working, go on permanent vacations or live by myself in the tundra. I choose to be around others, invest in children and my fellow citizens. Saving money, consuming wisely I can appreciate.
Privileged. Who paid for their college degrees?
The government paid for mine, cause my family was very poor
Lots of ppl pay for it themselves by working multiple jobs through college or joining the military-that's what I did and I know many others do too. One girl interviewed did mention student loans. If we are smart with what school to go to and get a marketable degree, then we don't have to buy the lie that we have to take out student loans.
Must be nice, wish my family had generational wealth than maybe we too could just up and travel the world in our $80,000 mobile camper...Butt ugghh i guess good for them?...
Articles like this : "My husband is an exotic ferret wrangler, and I crochet used shopping bags into sleeping mats for the homeless....So naturally we have enough money all on our own to travel the world in early retirement."
IF you were born between 1964-1986, you're not a "burned-out millenial", but more likely a "bored Gen Xer".
My wife and i (29 and 36 years old) quit the 9 to 5 this year. We sold our house and quit our jobs. We have worked and saved money for years so that we could create a healthy financial starting position. We don't have children so that made it easier to save money.
We are now traveling around Europe with our cat in our campervan, exploring beautiful places. We're also vlogging about this alternative lifestyle and we hope to encourage people who might be thinking about changing to a alternative lifestyle.
This lifestyle is cheaper, but not free. So every now and then we work for a few months, to stay financial healthy, but also to contribute in local communities.
For us, it has been the best decision we made in years.
Lots of love,
Leon and Miek
LOL and it all comes out at 4:40. Writing books, giving speeches and workshops... "passion projects". You have a job. You didn't retire, you're just self employed.
All fine and dandy so long as your umbilical cord is still attached.
I’ve been working since I was 14 legally. I’ll be 35 this year. It is tiring, draining and exhausting on your soul and mind when you have to work a job you absolutely hate. The catch 22 is the job pays well but you cannot stand going to work and everyday feels like the day your going to say f- it and quit. It’s a good idea to figure out how to save money and then plan to make moves in the future. I’ve completely failed at this and having student loan debt sucks badly but at some point all of us in this same position need to start making moves to set ourselves up later to be comfortable. Not sure how much longer I can tolerate this lifestyle of “groundhogs day”.
YES Millennials.
chase your dreams!
Awesome if you can do it and make it last.
FIRE isn’t for everyone. Companies require growth to produce the dividends that they pay to shareholders. They need workers and consumers to achieve this. Not everyone can be a by standing shareholder or the system would fail.
J D yeah well not everyone can trade their precious times for mere pennies so guess what pple will find alternatives.
Curious as to why there were no questions asked about health insurance, children or elderly family members/parents and the financial dents that would occur if/when two of these three were in their lives and how it would impact their current lifestyle. What would be their plans for that?
Corporations: Millennials keep ditching their jobs when they're not happy, wtf!
Also Corporations: Let's give them even less incentives to stay here. "Beth are you sure this is the lowest salary we can offer?"
Here we go again with the whole “women” alienation 😒
Wow thanks! This inspired me to quit my warehouse jobs and travel the world. BS! This is a fantasy hahaha
I mean, if your working a 6 figure job its so easy to save fast and retire early. I work for a corporate company that pays pretty good but a lot of ppl live pay check to pay check. Even being single without kids is still a struggle. Companies don't want to give out raises and 401k grows soooooo slow. And as for traveling, alot jobs don't have the option to work from home. So they can't work on the road and travel in RV. I need to see a news story where someone making less than $50,000 gives ppl tips on how to travel, save fast and retire early.
Videos like this are so depressing. I grew up poor to a family hit hard by the opiate epidemic and alcoholism. My mother died from opiates and my dad is still a mean drunk. I've been struggling to keep a roof over my head for over 15 years, because of either not working enough or having to work up to three jobs (sometimes 70 hours a week) at a time. Nothing is steady, fair, or a safe bet anymore. This video is for the lucky few who can afford to take risk in these uncertain times. Mainstream news can be so out of touch sometimes.