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Smart. Get enough passive income coming in that even a lower paying job or perhaps a part time job, combined with that passive income, is enough. I'll bet that strategy takes a lot less time to accomplish than full financial independence.
I wouldn't want to actually retire at 30. I just want the freedom to choose whether to have an active income or not. At that point I'd probably find some sort of enjoyment in my job lol
yes it is not important to be retired, it is important to be able to say your boss you are not going to work overtime and if he is not cool about it just kick him in the nuts and could search for a job for a few months without having a fear of running out of the money
Yeah that's the thing. These type of strategies are really only doable if you were born rich. If you're not, it's always 100% a horrible idea to "retire" early as your investments can always go tits up at any time, leaving you totally screwed if you have 0 experience in a job market that's increasing becoming more skill-orientated with huge experience requirements. Real estate and rental properties are the only investments that are secure enough for you to reliably "retire" on, but even then those are full time jobs themselves.
sayedstafa The best time to plant a tree was 20 years ago, the second best time is now. You’re still young so I would start now and retire in your 40s/50s.
I am 64 years old and I retired a little early at 56. I think it's always good to live frugally but don't overdo it. Especially when you are young. Those years between 20 and 40 years of age is the prime of your youth. Don't forget to enjoy those years.
@@krabbykrabby8818 To each their own. But working 80 hours a week, living off ramen, and most likely going to still have to push that retirement goal back to 40 doesn't seem like the path I want to go down.
@@marcelrodriguez2067 At an income level like that you need to focus on how you can make more money. Once youre above 50k you can really do wonders on living frugally and saving most your income
Thanks to this guide and my career goals, I could retire comfortably at age 50 with over $3 million in the bank that will keep on growing and live off of over a $100k salary a year without having to work for the rest of my days. Sure, it's not 30, but I rather be living comfortably and being assured my millions will continue on growing.
Ima be real - retiring early sounds great, but struggling to live while working for 10 years just so you can struggle to stay within that tight margin of $1400 without working just sounds counterproductive. "Retirement" is different for everyone, but not having to work is only half the picture. Quality of life is the other 50% imo.
I look at it a different way. Instead of "retire" I would say to "achieve financial freedom". This means that you can work if you want to - but you have no obligation to work. And if you do work you will probably pick something you want to do instead of what you have to do. Now I would make the argument that you are way more probable to become successful(and happy) at a job that you 1) want to do, 2) can quit at any moment.
Brad_6492 your fire number doesn’t have to be the same as someone else’s. You can aim for having more money than someone else might; I.e 100k to spend a year vs someone who’s goal is 50k
Ikr. You only live once. The reason u work is not just to survive, it's to live comfortably. What's the point of working your ass off and living in poverty
Well retiring in 10 years is the issue here. The restrictions are only there because you're trying so hard to not work after only 10 years lol youd be fine if you did this for 20 or 30 years.
@B Chow I earn 6 figures. But I'm feeding 4 people. There are only so many costs you can cut when certain things you value can't be avoided. I won't bw retiring in my 30's Possibly 40's if it all goes well
The problem with retirement is you are chasing a moving target, so you need to adjust your estimated saving amount with the average inflation for the number of years that you plan to save for.
Fortunately with the 4% system, if you can grow your nest egg 8 percent per year, the remaining 4 percent will be your inflation gains and hopefully give you a raise every year.
Agree. Living with your parents and contributing money to the family (contributing to pay rent and food) benefits both you and your parents long term. Many people want to move out because of "freedom". Yeh enjoy your 9 to 5 to be barely able to pay for rent and food if thats what you call a freedom.
for the first couple of years in my earlier career, my monthly expenses were about $600/month. $400/month for a mattress in a shared apartment and $50/week for food at the grocery store. biked to work. Yearly expenses were just a little under 8k.
My name is Steve Rogers ... he means he rented it out and bought a condo in Thailand with the money saved and the monthly income he receives form renting it.. at least I think as that’s exactly what I’m doing.
Not gonna lie, last year I put together a game plan without having watched this “fire” movement. My conclusion was the same. It’s all about living as frugal as possible while on the grind. Delayed pleasure and pure discipline. This also does something no one else talks about. If you have spent 3-8 years being frugal and establishing retirement... well then the retirement life will be a breeze. Habits will have been ingrained and the want to go out and spend it will be all but eliminated due to the constant work that was required. You won’t just blow it.
Great advice!😆 Don't spend money during your prime years. Im telling you as a 40yo war vet. I remember all my experiences (trips, dates, driving cars, food). I dont remember how much money I spent. Also, retiring early doesn't mean you're living a rich person's life, you're actually living below means because you have to stretch out the $3mil. Which isn't that much it is $150k /year for 20 years. What about your 60's, and 70's? Dont listen to this guy. Invest the money you can save and also live your life and fill it with experiences.
With a 8%-10% avg growth, even accounting 3% inflation and 1% commission, withdrawing 4% annually would at worst leave you dead even, at best your principle increases. Do, however, realize you need to tax off of your fund earnings from the stock market just like you would regular income.
@@RyanScribner reflecting on your reply - I agree. My personal opinion is that FIRE works great for people like you who have several passive income streams. For others, 30 years of FIRE means living their healthiest, most active years too preoccupied with saving to actually live life. If that's for them - great. I've found a profession I love, with people I love working with, and I enjoy splurging now and then on some memories with my wife and son. I'm OK with retiring at 70. Of course if your job sucks then that would be torture.
BS. You are so far from f*cked that the light from f*cked would take a billion light-years to reach you. Start right now, if financial independence is worth it to you. You have maturity and experience going for you. Would I be correct in thinking you make more money now than you did when you were 20 years old? If so, it will be easier for you and go quicker. Start thinking in terms of how you are going to make it happen, not making up excuses as to why you can't. Be creative. Be tenacious. Otherwise, in a decade, you will be posting that you are in your 40's and wish you had taken action in your 30's, thinking that you would have been done or almost there by then if you had.
I'm 28 and I've effectively "retired" because I now work online while travelling. All I've ever wanted was to be able to travel forever. So even though I'm still working, I feel like I've retired because I've got the freedom I always wanted. And now here I am looking at what I can do with the $1000 I can save every month.
I'm 35 and just had my first year of saving 50% of my income towards FIRE. Had to do a few things to get to this point though. Cut all discretionary expenses. Eating out once a week is my luxury lol. Sold my car and only have a motorbike. Paid off all debts other than my mortgage. Rented out rooms in my house.
2:44 Step 1: Be Frugal 4:40 Step 2: Have 30x your annual expenses in investment portfolio, withdraw no more than 4% a year to live off of 7:00 Step 3: Passive income, suggests index funds (low risk and on average 8-10% yearly return
All your calculations are based on a 3.33% rule, not a 4% rule. For example you calculate: $20,000 = $600,000 $35,000 = $1,050,000 $50,000 = $1,500,000 $100,000 = $3,000,000 With the 4% rule, the numbers should be: $20,000 = $400,000 $35,000 = $875,000 $50,000 = $1,250,000 $100,000 = $2,500,000 For the 4% rule, multiply by 25, not 30. Or divide your annual costs by 0.04.
@Pranav Pai That's why I doubt most people would even retire. When work is your life and you have nothing to come home to, what is the point of retirement?
@@shaunrosenberg4568 So let me get this straight. You want family, vacations, and memories but you think giving up 60 hours of your week commuting to and working at a job while spending time with your family really only on weekends is the way to go? This society has really done a great job programming you guys into beleiving your only purpose is to go out and work for someone and if you don't your life would have little meaning. Hey it might be time you break out the matrix.
@@ariefraiser140 You're only going to get to retire at age 30 through the stock market if you are working your ass off with probably 2 jobs at and spending essentially $0/month or close to it. Most 30 year olds after all that time of working will maybe be making $1,000/month or so from their investments. With so little in savings and nothing to come home to, you'll just keep working and the retire at 30 plan becomes the retire at 40 plan. By the time you do retire, you'll figure that your best years were wasted and you're getting too old to start a family. You didn't avoid work, you just worked twice as hard for 20 years instead of working half as hard for 35-40 years and having a more balanced life. Happiness is about balance.
I want to semi retire at 30 where I can just have a part time job just a few shifts here and there while earning my dividends, and hopefully fully retire around 35-40
My biggest reservation with this strategy is that it greatly limits what you can actually do with your free time once you retire. Therefore the systems beats it's own purpose. Yes, you're retired at 30, but cannot provide for kids, take care of elderly parents, go on vacations, do fun activities or other ways to either enjoy your free time or take responsibilities. You're free, but you have very little to do with your time, which leads to boredom. This strategy works best if you keep working, but are now able to invest all of your income so that you can retire with enough money to actually enjoy life and take responsibility 10 years or so later.
@@BarrettBiggers I have my own house and haven't lived with my parents since age 20. In fact since I house hacked to the point my mortgage is paid and I get $100 on top of that I would lose money if I had stayed with my parents instead of buying a house.
ive been watching your videos ever since the first one. I remember i was watching financial education alot with jeremy and then you popped up and added a different perspective to alot of things. when you had an idea or question you would research the crap out of it and i have alot of respect for what youve accomplished here on this channel man. dont ever let down! true inspiration
I have a different take on the end goal. I have been saving a lot for the past few years and will have a small passive income. This will allow me to take a less paying job that I will enjoy more and maybe work part-time if I want to
I just retired at 40 with real estate and having lived through the process first hand, i think it would be very difficult to retire at 30. The concept of living of of interest of an asset that can go POOF! is scary. The worst case scenario would be terrible. Going back to work after 10, 20, 30 years 😱
@@Tizonwar8 What I experienced from reading books so far is that you're good with reading 2-3 books on the same topic. People always will tell you they have something in it than the others book don't but that's wrong. They are all copying from each other.
For years, I've shopped for most of my household needs (except primary food and clothes) at the dollar store. All brand name soap, shaving cream, hair gel, snacks, cleaning supplies, laundry and dish detergent, etc... So yes being frugal is a huge economic benefit
Nice job. I am aiming for quality dividend paying companies and it is working out great especially when there has been buy in sales on these stocks like ABBV, MO, JNJ to name a few these last few months. I am keeping a eye on the energy sector now since there is some good sales currently on some companies.
@@LeAnniejo The stock market takes time to fully understand and even once you think you know it all, you will find something new to learn all the time. I suggest you start a very small portfolio with a commission free broker so you can buy shares of a few strong solid well known companies to get started. Companies you might be interested look at their price history on the charts for basics but there will be more things to learn as you go. You can invest in ETF's also if you do not want to buy tons of different companies but I suggest you keep doing your homework on companies you invest in and what you want to look for. Some great YT channels I have learned a lot from are: ppcian, Kenny Robinson, Andrei Jikh, Independent Investor, Lets talk money with joseph hogue and B.A.B.Y. Investments to name a few. Happy investing!!!
@@Diamondking135 A big mistake many make is not having cash on hand. You want to have buying power for when stocks/crypto etc dip, then strike. Covid a perfect example, you could've bought almost any assest and be much better off by now.
I wish I learn this in my 20's. I am really hard working and didn't know any things about investing. 20 years later I'm learning. Thank you so much, you are amazing!
Have fun in your 20s!!!! Don’t sacrifice life and fun for money in your 20s. It’s a stupid idea and you will understand why when you hit 40 years old. Working into your 30s is a great idea to start to gain high level experience and master skills. Also it’s an important time in life to socialise and work place or business is a Great community to learn from. You need to have fun in your 20s and work hard in 30s and then retire at 40. I’m 42 and I’m so happy I played in my 20s and worked hard into 30s. Ready to retire at 45.
Great video man, I always try to save 90% of my income, and spend as little as possible. I think that if you want to spend more you need to find ways to MAKE more instead of trying to cut every single little corner.
Forgot to mention you cant have kids, you didnt account health insurance and things of that nature. I think if you lived with your parents until you're 30 it's very doable though and you are single with no kids.
A pretty easy way to do this, would be to just live at your parent's for a long time. Especially useful in countries(like Australia)where your biggest expenses is just the place where you live.
Yeah really, that's just enough to pay my mortgage. In no way is that "retirement money". Not saying investing in index funds is a bad idea, but you certainly aren't retiring
N96ZG Ur funny. Some ppl are making $200-$300 bi-weekly. U live in a dream world. There’s a lot of ppl who make salaries like this and can’t afford to save anything.
Great overview of FIRE! I recently became one of those FIRE people too but before 40 ;) I didn’t go all the way in to pursue FIRE at first because I didn’t know this kind of lifestyle was possible. Great seeing other FIRE people’s insights!
No kids , no girlfriend or boyfriend, no cars , no rent try to stay at your folks place , no school no tuition etc.. , just work , no fashion stick with same clothes wash them, no new tech , no booze no party no restaurant no nothing. From 18-30 invest in dividends stock or real estates or wtv. Sacrifice a decade to not wirk for the rest of your life pretty simple if you value the real goal
May Wong when I was 15 and started working I wished I saved all the money instead of buying stuff consumer items (clothes, fast food, friends) Save your money!! Your future self will be grateful!
I got my first tech (software engineer internship) when I was 17 by lying about my age. Go follow your dreams. (Though, I warn you, it requires regular self study, ~2 hours every morning 6 days a week.)
Investing early = GOOD. Investing everything in the stock market hoping for a 10% return during 10 years when the markets have never been so high... = NOT SO GOOD Diversify.
Even with a family you can retire early if you focus. My late husband and I had both had nothing when we married except kids he had 4 and I had 2, debts and expensive divorces). We just dug in and did it. We did go on vacations (I am extremely frugal and it can be done). Along with money that their grandparents saved for them (kids also worked summers and during college and got scholarships ) all our kids went to state colleges for their degrees with no debt. We got out of debt, bought a house, paid off the house and saved, saved, saved. No cable, no expensive shoes for the kids, home cooked meals etc. it took me until I was in my early 50s but still did it with a family
This would be very helpful to those people who are straight out of college and their parents are still around to support them and they have little to no bills. That would be the best recipe to retire early!
i dont think its worth living like a peasant and sacrificing life experiences in your 20s just so you can retire earlier. you will probably get bored by retiring that early anyway if you dont have a plan. dont get me wrong its definitely worth saving and investing as much as possible to give you that freedom in the furture if u want it
Yea most people in the FIRE community say you have to find balance between saving and living. They tell you to increase savings until it's unhealthy mentally and/or physically and then dail it back.
"i dont think its worth living like a peasant and sacrificing life experiences in your 20s just so you can retire earlier." That all depends on what your income is. If you have a marketable degree or skill you might be able to invest $50,000 per year and have $30,000 per year to live on when some people don't even make $30,000 per year. Is $30,000 living like a peasant? Also consider that some people might be a couple, and maybe they can actually afford to live on one of their salaries which means that they can invest 100% of the other person's salary. I don't know anyone who does that even if they easily could afford to. Or they just end up being a single earner household when they could have the non-working spouse work and in ten years end up with $300,000+ after ten years of investing the after tax earnings from a $10 per hour job. For some reason nobody does that. I grew up in a single earning home and from my early teens (I was reading about investing even at that age) could not figure out why my mom didn't work and just invest her income. Here we are over 30 years later and the parentals could easily have a couple million more generating dividends and throwing them income to spend, or give away, or donate to charity, etc.
You have to get a better idea of what the fire movement is because judging from your statement it appears you may have some misconceptions. First it's Financial Independence/Retire Early. Most people that first hear of the movement put all their focus on the Retire Early and hardly pay attention to the Financial Independence part. To be in control of your own livelyhood and not HAVE to depend on an employer in your 30s is very powerful. To be able to do any type of work you want without worrying about your day to day expenses is extremely powerful. To essentially have a huge chunk of your time back instead of spending 10hrs dedicated to commuting to work, working, and commuting home is hugely beneficial. Stop and think about it. How much of your 20s do you really have? There's 168 hours in a week. Assuming you work at least 40 hours a week, commute time adds another 10 hours plus 48 hours sleeping and another 10 hours doing choirs, groceries, cooking etc that leaves you with 60 hours of "free" time per week at best. And if you work 50 hour weeks or a second job you get less. Time is the one thing you can't buy and the most precious you have. Sacrificing 10 years of your life so you get to FULLY decide what you can do with the remaining 50+ years of your short precious time on earth is well worth the sacrifice.
I have a feeling you will feel differently about this in about 30 years and wish you had done differently. To each their own though. Time is on your side now. It won't be later.
i think this is more reasonable. his example is just mainly for clickbait to get people interested, then educated on fire movement. I'll likely do 15 years of hard saving before i reach retirement (opposed to his example which is 10 years, and yours which is 20).
Great video man! I've been saving around 40% of my income every paycheck this year. I work around 60+ hours a week. Trying to bump that up to 50% in the coming months
I'm 46 and TH-cam depresses me more and more everyday now that I've found this type of content. Born in the wrong decade apparently and now sentenced to work until I die like most of the population. Or maybe I should have read Think and Grow Rich earlier in life. Or maybe I should stop living in the past and move forward as quickly as possible!!
Everyone’s journey is different. Many people make their fortune later in life, like how colonel Sanders came up with KFC late in life. Starting early sounds good but only when it comes to passive investing and comes at the cost of enjoying your youth, something no amount of money can bring back. In entrepreneurship, having business experience is a huge advantage, less risky and potentially huge returns. What would take a teenager decades to reach through passive investment could be done in a matter of years through a good business. Also I remember reading that most millionaires make their fortune in their 40’s (or something like that). I will make a video about it at some point but in the meantime cheer up and go make your millions!
If you care enough you can do anything. I feel late to the show at age 30, but every single day so long as you read, plan, visualize your goals it's possible to still retire far earlier than you would have otherwise. Compare yourself to yourself. Look into buying property and renting it out. In this video he says you don't 'need' to, but its actually far more practical than living off 1400 a month. You can hire a real estate agent to look for only Legal Duplex's in your price range, with units that will generate 1000 a month. Then you buy the duplex, either live in one unit and rent the other (still gets your 12000 a year), or rent both (24000 a year). Look into it, and continue to look into it. It's very common. You don't need talent or 200 iq to be rich. You don't need a PhD or a masters degree in something to be an expert. You just need will power. This will allow you to own or live in a housing property while other people pay for your mortgage, and possibly net you some extra money on the side. Whenever you have the funds you can fully pay off the duplex, live in it mortgage free, and it should only cost you a couple hundreds a month to live there for the rest of your life, depending on where the house is located. This means it will only cost you 12000 a year tops to live in that duplex even if NO ONE is renting any of the units. This means you will only need 300,000 dollars to retire (using index funds stocks like mentioned in this video), not 500 or 600k. Maybe you decide to keep renting the basement to a tenant out after mortgage is paid? Then you will literally need 0 dollars saved to retire. The guy in the basement of the duplex is literally paying for you to not have to work. Just some things to think about. I spend hours every single day crunching scenarios in my head and save 60% of my income currently. So many options to think of. :P
It's such a specific type of people for who this is an option... everything in life has to go your way lol. No medical bills, no prolongued unemployment, no young family, low living costs. Well GL to those people.
Again, just another perspective. I would HATE “retiring” period. Now, having the financial freedom to work and vacation when I please, yes. But as a healthcare professional who got into this for the right reasons - and soon to be going back to med school (for the right reason) - I cant imagine doing this AT ALL. I’m more of a serve ‘til I die kind of guy. But I’m invested enough and saved to pay my way through med school and come out with no debt (also helps being a TX resident going to state school). Again, multiple perspectives and ideas of how to live. Don’t get too caught up in this FIRE movement unless you actually want that lifestyle.
Yeah I am 38. It is good for anyone though. I think he should have said how to retire in a certain number of years after investing a certain amount of money.
I don’t really WANT to retire by thirty. That’s a little too soon for me, activity keeps you young 😭 but thanks for the info, I’ll still get rich off of it.
Love your work and there is no need to retire. I have trained many of the world's wealthiest people and I can tell you money does not equal health and happiness. If you have lots of money post 30s with little skills, meaningful relationships, and robust health you are are doomed to a long life of misery. Watch the Alan Watts video, If money were no object and hopefully you will see that this is the way to living a fulfilled life. Money does not equal fulfillment, flow, or happiness
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I’m 89 years old and I’m now saving money. I plan on retiring after I die.
🤣😂☺️
Good job
At least you get to retire at this stage I won't be allowed to die :)
my Mum just died at 80.
@@MrSoloun Nah. They'll get rid of retirement and everyone will work until death
My objective is not to retire completely, but instead being able to do something I like for a living, this is the ultimate goal
Smart. Get enough passive income coming in that even a lower paying job or perhaps a part time job, combined with that passive income, is enough.
I'll bet that strategy takes a lot less time to accomplish than full financial independence.
thats smart its lean fire. you make 20k a year passive income to boost your current income
Same....
I wouldn't want to actually retire at 30. I just want the freedom to choose whether to have an active income or not. At that point I'd probably find some sort of enjoyment in my job lol
Whats stopping you from enjoying your job now? Thats right you are. You and only you are responsible for your mental state
@@jonl9192 I enjoy my career, but there's another level of enjoyment when you know that isn't your sole income
100%. Financial freedom.
yes it is not important to be retired, it is important to be able to say your boss you are not going to work overtime and if he is not cool about it just kick him in the nuts and could search for a job for a few months without having a fear of running out of the money
Freedom Dividend
YangGang2020
step one: rent your current property in usa
step 2; move to poor country
step 3: retired and u live luxurious life.
this is more practical
Muhammad Talha lmao you’re not even lying that’s the crazy part
What if I'm from the poor country?😅
emm miabellisima go to a even more poor country.
@@miabellisima move to even poorer country or poorer part of your own country.
@@miabellisima Get dat green card sssshon
At age 66, I'm really interested in learning how to retire at age 30.
😅😂u should feel 30
66 is the new 25!
59 here. I understand.
Forget age. I love your mindset!!
🤣🤣
At least you should teach your children so that they can start investing
I know a bunch of guys that retired by 30. They were born rich
Yeah that’s the easiest way 😂😂😂
Yeah that's the thing. These type of strategies are really only doable if you were born rich. If you're not, it's always 100% a horrible idea to "retire" early as your investments can always go tits up at any time, leaving you totally screwed if you have 0 experience in a job market that's increasing becoming more skill-orientated with huge experience requirements. Real estate and rental properties are the only investments that are secure enough for you to reliably "retire" on, but even then those are full time jobs themselves.
You mean retire since they were born?
Yep
@@illegallogic3132 it's probably more considering lower and middle class are over 99% of the population
Can I still retire at age 30 if I'm currently 33, about to turn 34?
Probs not
sayedstafa The best time to plant a tree was 20 years ago, the second best time is now. You’re still young so I would start now and retire in your 40s/50s.
Jaja lol
it takes 10 years to effectively retire with investments and no debt bills
Are u dumb?
Live poor while you're working so that you can stop working and live poor for the rest of your life. Got it!
you could keep working and earn twice as much 🤷
My uncle worked hard all his life to retire early, he died a year after retirement.... guess it was a waste of time.
@@marcelrodriguez2067 exactly. Life is too short eh
Ha love it! A very good point
Yeah, lol. Well said !
I'm 28 and saving 60% of my after-tax earnings. It's too late to aim for 30 for me, but I'm aiming for 35.
same here man, retire by 40 is my goal
Bro you need to invest some of that money not just save it.
@@YouGotOptions2 lol. I do. Thought that was implied
Same here man! We can do this!
That's a great idea dear, you can start investing and retire at any age you want
I am 64 years old and I retired a little early at 56. I think it's always good to live frugally but don't overdo it. Especially when you are young. Those years between 20 and 40 years of age is the prime of your youth. Don't forget to enjoy those years.
whats ur net worth?
Not getting into the consumer cycle at a young age does help us retire early :) Thank you Ryan
btw the dark web comment i've seen spammed everywhere. goes without saying but ignore it
Being frugal and living below your means is really the _secret sauce_ of the FIRE movement
🤯🤯🤯🤯
The opposite is the secret sauce of the FYRE festival
Yea. But there is a limit. Saving to retire at 30 and live off of little money afterwards doesn't lead to a good life.
@@shaunrosenberg4568 Yeah, different people have different goals and different things they want in life.
@@krabbykrabby8818 To each their own. But working 80 hours a week, living off ramen, and most likely going to still have to push that retirement goal back to 40 doesn't seem like the path I want to go down.
$100 of expenses = $36,000 more money you need to set aside. Great perspective of thinking!
I'm selling everything I own right now!🤭
Hahaha not really possible when you only make 24k a year lol
@@marcelrodriguez2067 At an income level like that you need to focus on how you can make more money. Once youre above 50k you can really do wonders on living frugally and saving most your income
@@Diamondking135 I have 4 kids, wife cant work.... make salary 70k and I still live week to week dont even own my home.
I guess that those StarBucks coffee are pretty darn expensive when you think of it in those terms.
Thanks to this guide and my career goals, I could retire comfortably at age 50 with over $3 million in the bank that will keep on growing and live off of over a $100k salary a year without having to work for the rest of my days. Sure, it's not 30, but I rather be living comfortably and being assured my millions will continue on growing.
Ima be real - retiring early sounds great, but struggling to live while working for 10 years just so you can struggle to stay within that tight margin of $1400 without working just sounds counterproductive. "Retirement" is different for everyone, but not having to work is only half the picture. Quality of life is the other 50% imo.
I look at it a different way. Instead of "retire" I would say to "achieve financial freedom". This means that you can work if you want to - but you have no obligation to work. And if you do work you will probably pick something you want to do instead of what you have to do. Now I would make the argument that you are way more probable to become successful(and happy) at a job that you 1) want to do, 2) can quit at any moment.
Brad_6492 your fire number doesn’t have to be the same as someone else’s. You can aim for having more money than someone else might; I.e 100k to spend a year vs someone who’s goal is 50k
for $1400 a month you could live like a king in Indonesia, dine at all you can eat restaurant every night, travel abroad and shits.
Ikr. You only live once. The reason u work is not just to survive, it's to live comfortably. What's the point of working your ass off and living in poverty
Well retiring in 10 years is the issue here. The restrictions are only there because you're trying so hard to not work after only 10 years lol youd be fine if you did this for 20 or 30 years.
Ryan: Step 1...be Frugal
Me: Aight, I'm out....
John Smith ive saves my way to 3 million in real estate equity and ten mill in real estate
Its too hard!
@@MetalBum saving $13M ... Nice
@@MetalBum Show me the way Obi Won
@B Chow I earn 6 figures.
But I'm feeding 4 people. There are only so many costs you can cut when certain things you value can't be avoided.
I won't bw retiring in my 30's
Possibly 40's if it all goes well
The problem with retirement is you are chasing a moving target, so you need to adjust your estimated saving amount with the average inflation for the number of years that you plan to save for.
Fortunately with the 4% system, if you can grow your nest egg 8 percent per year, the remaining 4 percent will be your inflation gains and hopefully give you a raise every year.
I can't stress this enough but, live with your parents as long as you can.
Agree. Living with your parents and contributing money to the family (contributing to pay rent and food) benefits both you and your parents long term. Many people want to move out because of "freedom". Yeh enjoy your 9 to 5 to be barely able to pay for rent and food if thats what you call a freedom.
I'm struggling with this but I know financially it's best.
I guess, i need my own place but if your respecting your parents and not free loading you should be good, get your $$$ and move up
I'm a parent...move your kids out by 25 so you can retire early
My parent is toxic and abusive😅personally I’ll move out or at least live with my uncle and auntie.
for the first couple of years in my earlier career, my monthly expenses were about $600/month. $400/month for a mattress in a shared apartment and $50/week for food at the grocery store. biked to work. Yearly expenses were just a little under 8k.
I'm an HVAC technician at 20 years old and I definitely believe this works
Rented my house. Bought condo in Thailand. Game over.
Huzzah... A man of Quality
My name is Steve Rogers ... he means he rented it out and bought a condo in Thailand with the money saved and the monthly income he receives form renting it.. at least I think as that’s exactly what I’m doing.
Shimmy2.0 Shimelesse Mekbeb dome and done ✅
couldnt pay me enough to live in Thailand . that place is trash
Girlfriends are really, really cheap there too.
I’m turning 30 in 9 days. Can’t wait!
Not gonna lie, last year I put together a game plan without having watched this “fire” movement. My conclusion was the same. It’s all about living as frugal as possible while on the grind. Delayed pleasure and pure discipline. This also does something no one else talks about. If you have spent 3-8 years being frugal and establishing retirement... well then the retirement life will be a breeze. Habits will have been ingrained and the want to go out and spend it will be all but eliminated due to the constant work that was required. You won’t just blow it.
I’m turning 20 this year and i feel like this video was made for me. Thank you Ryan!!
Great advice!😆
Don't spend money during your prime years. Im telling you as a 40yo war vet. I remember all my experiences (trips, dates, driving cars, food). I dont remember how much money I spent. Also, retiring early doesn't mean you're living a rich person's life, you're actually living below means because you have to stretch out the $3mil. Which isn't that much it is $150k /year for 20 years. What about your 60's, and 70's? Dont listen to this guy.
Invest the money you can save and also live your life and fill it with experiences.
Step 1: remember inflation ;)
Great piano lessons by the way
Shhh, don't tell. And also keep the index fund commission(Vanguard's is
With a 8%-10% avg growth, even accounting 3% inflation and 1% commission, withdrawing 4% annually would at worst leave you dead even, at best your principle increases.
Do, however, realize you need to tax off of your fund earnings from the stock market just like you would regular income.
@@TheSystemaSystem you don't pay capital gains if you are bringing in less than 80k which was the amount in 2020
@@jdubbelyew wait what? Really
So... as long as I decide I'm not going to enjoy life I can retire at 30, and then continue to not enjoy life.
@@RyanScribner reflecting on your reply - I agree. My personal opinion is that FIRE works great for people like you who have several passive income streams. For others, 30 years of FIRE means living their healthiest, most active years too preoccupied with saving to actually live life. If that's for them - great. I've found a profession I love, with people I love working with, and I enjoy splurging now and then on some memories with my wife and son. I'm OK with retiring at 70.
Of course if your job sucks then that would be torture.
Dumb comment.
When you watch this video and you’re in your late 30’s and come to the realisation you’re f*cked!
42 years old. Im screwed
@@superflan7812 haha 40 this year, not far behind 😂.
BS. You are so far from f*cked that the light from f*cked would take a billion light-years to reach you.
Start right now, if financial independence is worth it to you. You have maturity and experience going for you. Would I be correct in thinking you make more money now than you did when you were 20 years old? If so, it will be easier for you and go quicker.
Start thinking in terms of how you are going to make it happen, not making up excuses as to why you can't. Be creative. Be tenacious.
Otherwise, in a decade, you will be posting that you are in your 40's and wish you had taken action in your 30's, thinking that you would have been done or almost there by then if you had.
“...a business that can make money for you...” *shows a blockbuster store*
I’ll shoot for 40 since I’m almost 28. Aaaaand I have student loans plus a car payment BUT still saving money.
Student loans are a killer for sure
How's the progress?🥰
You are not saving if you are in debt.
You have negative money.
@Major Key uh a car payment and student loans is a debt are you slow?
Get rid of the car payment or you'll never become well off.
I'm 28 and I've effectively "retired" because I now work online while travelling. All I've ever wanted was to be able to travel forever. So even though I'm still working, I feel like I've retired because I've got the freedom I always wanted. And now here I am looking at what I can do with the $1000 I can save every month.
very cool Nigel! what do you do?
@@PeterPyo Call girl
I'm 35 and just had my first year of saving 50% of my income towards FIRE. Had to do a few things to get to this point though.
Cut all discretionary expenses. Eating out once a week is my luxury lol.
Sold my car and only have a motorbike.
Paid off all debts other than my mortgage.
Rented out rooms in my house.
Very nice... I saved a good percentage this year but not anywhere near 50%... That's my goal for next year
So sick dude, best of luck, sounds like you got a solid foundation.
Your journey is motivating for me ...
Congratulations!!! You just accomplished what I think 95 percent of people cannot or will not do.
2:44 Step 1: Be Frugal
4:40 Step 2: Have 30x your annual expenses in investment portfolio, withdraw no more than 4% a year to live off of
7:00 Step 3: Passive income, suggests index funds (low risk and on average 8-10% yearly return
Step 4: run out of money at age 70 b/c the 4% rule was built for people retiring at age 60.
So basically I need to become Mr. Krabs for a decade
All your calculations are based on a 3.33% rule, not a 4% rule. For example you calculate:
$20,000 = $600,000
$35,000 = $1,050,000
$50,000 = $1,500,000
$100,000 = $3,000,000
With the 4% rule, the numbers should be:
$20,000 = $400,000
$35,000 = $875,000
$50,000 = $1,250,000
$100,000 = $2,500,000
For the 4% rule, multiply by 25, not 30. Or divide your annual costs by 0.04.
5:10 7:37 VOO and Vanguard 500 fund. 9:36 Work and save 50-70% of income and for 10 years. Saving 30 times your annual expenses.
20-30: save hard and live off ramen noodles.
30-death: spend little and live off ramen noodles.
...PASS
Basically. I want a family, vacations, and memories.
@Pranav Pai That's why I doubt most people would even retire. When work is your life and you have nothing to come home to, what is the point of retirement?
@@shaunrosenberg4568 So let me get this straight. You want family, vacations, and memories but you think giving up 60 hours of your week commuting to and working at a job while spending time with your family really only on weekends is the way to go? This society has really done a great job programming you guys into beleiving your only purpose is to go out and work for someone and if you don't your life would have little meaning. Hey it might be time you break out the matrix.
Sorry Shaun. That was meant for Pranav
@@ariefraiser140 You're only going to get to retire at age 30 through the stock market if you are working your ass off with probably 2 jobs at and spending essentially $0/month or close to it. Most 30 year olds after all that time of working will maybe be making $1,000/month or so from their investments.
With so little in savings and nothing to come home to, you'll just keep working and the retire at 30 plan becomes the retire at 40 plan. By the time you do retire, you'll figure that your best years were wasted and you're getting too old to start a family.
You didn't avoid work, you just worked twice as hard for 20 years instead of working half as hard for 35-40 years and having a more balanced life.
Happiness is about balance.
Guess I better not buy a brand new Challenger Hellcat Red Eye next year.
😂
Hahah. Same here, I been thinking about that or investing.
Hey hey hey I sell them in Florida anyone looking for one ;) I’ll sell you the one in our showroom
Nah, buy the drag pack model. Sure it’s not “street legal” but they’ve got to catch you first.
Sound like my little brother lol💪😁
I want to semi retire at 30 where I can just have a part time job just a few shifts here and there while earning my dividends, and hopefully fully retire around 35-40
My biggest reservation with this strategy is that it greatly limits what you can actually do with your free time once you retire. Therefore the systems beats it's own purpose. Yes, you're retired at 30, but cannot provide for kids, take care of elderly parents, go on vacations, do fun activities or other ways to either enjoy your free time or take responsibilities. You're free, but you have very little to do with your time, which leads to boredom. This strategy works best if you keep working, but are now able to invest all of your income so that you can retire with enough money to actually enjoy life and take responsibility 10 years or so later.
People who do this are still living with their parents
Definitely would speed things up 😂😂
Thats what I was thinking - must have some special situation or inheritance
@@BarrettBiggers I have my own house and haven't lived with my parents since age 20. In fact since I house hacked to the point my mortgage is paid and I get $100 on top of that I would lose money if I had stayed with my parents instead of buying a house.
Or just don't spend much on useless shit
@@sirlimen333 Which place is this that I live in that a house is affordable?
ive been watching your videos ever since the first one. I remember i was watching financial education alot with jeremy and then you popped up and added a different perspective to alot of things. when you had an idea or question you would research the crap out of it and i have alot of respect for what youve accomplished here on this channel man. dont ever let down! true inspiration
I have a different take on the end goal. I have been saving a lot for the past few years and will have a small passive income. This will allow me to take a less paying job that I will enjoy more and maybe work part-time if I want to
I just retired at 40 with real estate and having lived through the process first hand, i think it would be very difficult to retire at 30. The concept of living of of interest of an asset that can go POOF! is scary. The worst case scenario would be terrible. Going back to work after 10, 20, 30 years 😱
When the “sacrifice” lifestyle is your current lifestyle...
😂😂😂😂
You're not alone 😂
i’m 16 and this helps a lot
Other people: Watching TH-cam is a waste of time
Ryan Scribner:
These days reading a book is a waste of time.
@@Tizonwar8 What I experienced from reading books so far is that you're good with reading 2-3 books on the same topic. People always will tell you they have something in it than the others book don't but that's wrong. They are all copying from each other.
@@danielkelvin1036 Reported
“Be frugal” oh so I guess the Rolex will have to wait until I’m old and wrinkled and no one will compliment me because I’m already outdated :)
For years, I've shopped for most of my household needs (except primary food and clothes) at the dollar store. All brand name soap, shaving cream, hair gel, snacks, cleaning supplies, laundry and dish detergent, etc... So yes being frugal is a huge economic benefit
Not sure why you think being "frugal is a huge economic benefit" since saving money does not equal making more money over time?
This must be why a lot of people are living the van life movement
This was a good wake-up call. Basically, you need to be a millionaire to retire.
That’s honestly the only thing I took from this. If I want my money to actually work for me in the stock market I need to save over a million.
49 and over a million 650k in stocks 500 k cash. Shooting for 1.6 then bouncing. Keep on saving my friends.
Nice job. I am aiming for quality dividend paying companies and it is working out great especially when there has been buy in sales on these stocks like ABBV, MO, JNJ to name a few these last few months. I am keeping a eye on the energy sector now since there is some good sales currently on some companies.
Just now starting in the game, and I need wisdom and advice on getting into the stocks game.
@@LeAnniejo The stock market takes time to fully understand and even once you think you know it all, you will find something new to learn all the time. I suggest you start a very small portfolio with a commission free broker so you can buy shares of a few strong solid well known companies to get started. Companies you might be interested look at their price history on the charts for basics but there will be more things to learn as you go. You can invest in ETF's also if you do not want to buy tons of different companies but I suggest you keep doing your homework on companies you invest in and what you want to look for.
Some great YT channels I have learned a lot from are: ppcian, Kenny Robinson, Andrei Jikh, Independent Investor, Lets talk money with joseph hogue and B.A.B.Y. Investments to name a few.
Happy investing!!!
Why do you have so much in cash? Unless its a business account for a business shouldnt it be invested?
@@Diamondking135 A big mistake many make is not having cash on hand. You want to have buying power for when stocks/crypto etc dip, then strike. Covid a perfect example, you could've bought almost any assest and be much better off by now.
I wish I learn this in my 20's. I am really hard working and didn't know any things about investing. 20 years later I'm learning. Thank you so much, you are amazing!
You are totally right 😀thanks I’m 50 and trying to get debt free for the most part. Trying to be frugal while enjoying life
Have fun in your 20s!!!! Don’t sacrifice life and fun for money in your 20s. It’s a stupid idea and you will understand why when you hit 40 years old.
Working into your 30s is a great idea to start to gain high level experience and master skills. Also it’s an important time in life to socialise and work place or business is a Great community to learn from. You need to have fun in your 20s and work hard in 30s and then retire at 40. I’m 42 and I’m so happy I played in my 20s and worked hard into 30s. Ready to retire at 45.
Great video man, I always try to save 90% of my income, and spend as little as possible. I think that if you want to spend more you need to find ways to MAKE more instead of trying to cut every single little corner.
90%. I thought I was doing good saving 60%.
@@user-bm6wu9zw9m That is very good, I think anything over 50% is amazing honestly
Forgot to mention you cant have kids, you didnt account health insurance and things of that nature. I think if you lived with your parents until you're 30 it's very doable though and you are single with no kids.
I’m 14 and since I have no bills, just invest all my money
If you stick to investing wising, compound interest will be very good to you (:
A pretty easy way to do this, would be to just live at your parent's for a long time. Especially useful in countries(like Australia)where your biggest expenses is just the place where you live.
"Eating canned beans"
Hey that's me!
And me eat them just about every day
Is living off $1400 a month possible for 10 years? Yes. Keep in mind that you will be living off $1,400 a month when you retire as well.
Yeah really, that's just enough to pay my mortgage. In no way is that "retirement money". Not saying investing in index funds is a bad idea, but you certainly aren't retiring
N96ZG Ur funny. Some ppl are making $200-$300 bi-weekly. U live in a dream world. There’s a lot of ppl who make salaries like this and can’t afford to save anything.
live on 300 a month in cambodia
@@Davetheweeb you won't have a mortgage when you retire. So the $1400 will be yours.
$1,400 a month can be poor income or rich income depending upon where you live. Move to a cheap country and live like a king.
10 years later: "how to retire before puberty"
Great overview of FIRE! I recently became one of those FIRE people too but before 40 ;) I didn’t go all the way in to pursue FIRE at first because I didn’t know this kind of lifestyle was possible. Great seeing other FIRE people’s insights!
This guy is honest and I love that
Who the hell can save 1 million dollars by the age of 30.
Oh yes. I've 40 and I haven't even made half that my entire working life thus far.
Dont have a family and invest in your early 20s.
Look in to real estate fr
I did it by the age of 32. Never even graduated high school. Worked my tail off and invested my money.
No kids , no girlfriend or boyfriend, no cars , no rent try to stay at your folks place , no school no tuition etc.. , just work , no fashion stick with same clothes wash them, no new tech , no booze no party no restaurant no nothing. From 18-30 invest in dividends stock or real estates or wtv. Sacrifice a decade to not wirk for the rest of your life pretty simple if you value the real goal
Me (a 15 year old): Well.... better start saving! I’m already half way to thirty!
May Wong when I was 15 and started working I wished I saved all the money instead of buying stuff consumer items (clothes, fast food, friends)
Save your money!! Your future self will be grateful!
Haha great idea, I am 19 and feeling like I have already lost 4 years of saving 😂
I'm 16 I've got a hesdstart😂
hi there same
I’m 37 and have Three million $ saved
1234 net you got some nice pootang
@1234 at 16, at 18, at 21 and way until into my mid twenties all I thought about was party and pussy... :-/
I got my first tech (software engineer internship) when I was 17 by lying about my age. Go follow your dreams. (Though, I warn you, it requires regular self study, ~2 hours every morning 6 days a week.)
Amazing video!!!! Thank you so much for sharing!!!
Some good knowledge right here
The true irony of it all - the target audience won't have internet access due to cost to see this anyway.
Shawn Clay 😂😂
Investing early = GOOD.
Investing everything in the stock market hoping for a 10% return during 10 years when the markets have never been so high... = NOT SO GOOD
Diversify.
And 25k invested throught Webnull will cost y 6.99% per year 🙄.
History would tell us that a market crash is just around the corner... wait for this before buying shares.
Ben Williams this ages very well
ETFs my man
@@benwilliams5080 wtf bro
Jokes on you I already live on less than 3k a month! I only make 2k a month lol
Minimum wage
@@luney3232 it's not lol
Even with a family you can retire early if you focus. My late husband and I had both had nothing when we married except kids he had 4 and I had 2, debts and expensive divorces). We just dug in and did it. We did go on vacations (I am extremely frugal and it can be done). Along with money that their grandparents saved for them (kids also worked summers and during college and got scholarships ) all our kids went to state colleges for their degrees with no debt. We got out of debt, bought a house, paid off the house and saved, saved, saved. No cable, no expensive shoes for the kids, home cooked meals etc. it took me until I was in my early 50s but still did it with a family
Think there’s an error in your cover image for this video. You have 1,000,000 yearly expense needing 3,000,000. It’s 100,000
Hey mate, from Australia here. Honestly love the content, straight to the point and actual great videos that teach great concepts!
Screw it, life is too short, spend SMART and enjoy life especially when you are young.
Life can definitely change or end at any second! Make the most out every second!
Without smart investments, early financial freedom is hardly possible 💪
Excellent. I'm going to follow this and retire at 31. Thanks!
This would be very helpful to those people who are straight out of college and their parents are still around to support them and they have little to no bills. That would be the best recipe to retire early!
i dont think its worth living like a peasant and sacrificing life experiences in your 20s just so you can retire earlier. you will probably get bored by retiring that early anyway if you dont have a plan. dont get me wrong its definitely worth saving and investing as much as possible to give you that freedom in the furture if u want it
Yea most people in the FIRE community say you have to find balance between saving and living. They tell you to increase savings until it's unhealthy mentally and/or physically and then dail it back.
100% agree with you.
"i dont think its worth living like a peasant and sacrificing life experiences in your 20s just so you can retire earlier."
That all depends on what your income is.
If you have a marketable degree or skill you might be able to invest $50,000 per year and have $30,000 per year to live on when some people don't even make $30,000 per year.
Is $30,000 living like a peasant?
Also consider that some people might be a couple, and maybe they can actually afford to live on one of their salaries which means that they can invest 100% of the other person's salary. I don't know anyone who does that even if they easily could afford to. Or they just end up being a single earner household when they could have the non-working spouse work and in ten years end up with $300,000+ after ten years of investing the after tax earnings from a $10 per hour job. For some reason nobody does that.
I grew up in a single earning home and from my early teens (I was reading about investing even at that age) could not figure out why my mom didn't work and just invest her income. Here we are over 30 years later and the parentals could easily have a couple million more generating dividends and throwing them income to spend, or give away, or donate to charity, etc.
You have to get a better idea of what the fire movement is because judging from your statement it appears you may have some misconceptions.
First it's Financial Independence/Retire Early. Most people that first hear of the movement put all their focus on the Retire Early and hardly pay attention to the Financial Independence part. To be in control of your own livelyhood and not HAVE to depend on an employer in your 30s is very powerful. To be able to do any type of work you want without worrying about your day to day expenses is extremely powerful. To essentially have a huge chunk of your time back instead of spending 10hrs dedicated to commuting to work, working, and commuting home is hugely beneficial. Stop and think about it. How much of your 20s do you really have? There's 168 hours in a week. Assuming you work at least 40 hours a week, commute time adds another 10 hours plus 48 hours sleeping and another 10 hours doing choirs, groceries, cooking etc that leaves you with 60 hours of "free" time per week at best. And if you work 50 hour weeks or a second job you get less. Time is the one thing you can't buy and the most precious you have. Sacrificing 10 years of your life so you get to FULLY decide what you can do with the remaining 50+ years of your short precious time on earth is well worth the sacrifice.
I have a feeling you will feel differently about this in about 30 years and wish you had done differently. To each their own though. Time is on your side now. It won't be later.
I would want to retire at 40 and live more comfortably.
Do you, boo boo
Carson W you can switch to just working part time once you hit a certain point
i think this is more reasonable. his example is just mainly for clickbait to get people interested, then educated on fire movement. I'll likely do 15 years of hard saving before i reach retirement (opposed to his example which is 10 years, and yours which is 20).
Great video man! I've been saving around 40% of my income every paycheck this year. I work around 60+ hours a week. Trying to bump that up to 50% in the coming months
👍🏼
I mean ...its just not about the % ..the amount matters. Talking about 600k to retire and get 20k. Smh
@@twincherry4958 40% of $600k would be $240k, not $20k
@@AlexanderKroening it's the 4% rule.
Alex that's goals. If I had a lower mortage I could try ur method. But my wife does not work.
THanks Ryan for this video
The lower your burn rate, the lower the amount of money you need to retire.
I'm 46 and TH-cam depresses me more and more everyday now that I've found this type of content. Born in the wrong decade apparently and now sentenced to work until I die like most of the population. Or maybe I should have read Think and Grow Rich earlier in life. Or maybe I should stop living in the past and move forward as quickly as possible!!
Just learn how to invest and save money if you want to retire by 56! Gotta keep pushing my dude
Everyone’s journey is different. Many people make their fortune later in life, like how colonel Sanders came up with KFC late in life. Starting early sounds good but only when it comes to passive investing and comes at the cost of enjoying your youth, something no amount of money can bring back. In entrepreneurship, having business experience is a huge advantage, less risky and potentially huge returns. What would take a teenager decades to reach through passive investment could be done in a matter of years through a good business. Also I remember reading that most millionaires make their fortune in their 40’s (or something like that). I will make a video about it at some point but in the meantime cheer up and go make your millions!
If you care enough you can do anything. I feel late to the show at age 30, but every single day so long as you read, plan, visualize your goals it's possible to still retire far earlier than you would have otherwise. Compare yourself to yourself.
Look into buying property and renting it out. In this video he says you don't 'need' to, but its actually far more practical than living off 1400 a month. You can hire a real estate agent to look for only Legal Duplex's in your price range, with units that will generate 1000 a month. Then you buy the duplex, either live in one unit and rent the other (still gets your 12000 a year), or rent both (24000 a year).
Look into it, and continue to look into it. It's very common. You don't need talent or 200 iq to be rich. You don't need a PhD or a masters degree in something to be an expert. You just need will power.
This will allow you to own or live in a housing property while other people pay for your mortgage, and possibly net you some extra money on the side. Whenever you have the funds you can fully pay off the duplex, live in it mortgage free, and it should only cost you a couple hundreds a month to live there for the rest of your life, depending on where the house is located. This means it will only cost you 12000 a year tops to live in that duplex even if NO ONE is renting any of the units. This means you will only need 300,000 dollars to retire (using index funds stocks like mentioned in this video), not 500 or 600k. Maybe you decide to keep renting the basement to a tenant out after mortgage is paid? Then you will literally need 0 dollars saved to retire. The guy in the basement of the duplex is literally paying for you to not have to work.
Just some things to think about. I spend hours every single day crunching scenarios in my head and save 60% of my income currently. So many options to think of. :P
You still have 20 good years to retire with something. Don't blow it just embrace it! better to have something then nothing at all.
This is a good video to organize retirement indeed. But, I think it would be good to factor in the % of inflation and emergency funds. Thanks, Ryan!
It's such a specific type of people for who this is an option... everything in life has to go your way lol. No medical bills, no prolongued unemployment, no young family, low living costs. Well GL to those people.
It is unfortunate that so many people struggle to make ends meet every month. The global pandemic put some many vulnerable families at risk.
@@coco_mustachio9778the plan is to not have a family
Again, just another perspective. I would HATE “retiring” period. Now, having the financial freedom to work and vacation when I please, yes. But as a healthcare professional who got into this for the right reasons - and soon to be going back to med school (for the right reason) - I cant imagine doing this AT ALL. I’m more of a serve ‘til I die kind of guy. But I’m invested enough and saved to pay my way through med school and come out with no debt (also helps being a TX resident going to state school). Again, multiple perspectives and ideas of how to live. Don’t get too caught up in this FIRE movement unless you actually want that lifestyle.
TH-cam I’m 30 years to late for this video, please take note.
Anyone else in their 30's watching this video? haha
I'm not yet in my 30's but I am trying to prepare for the future for sure!
Yeah I am 38. It is good for anyone though. I think he should have said how to retire in a certain number of years after investing a certain amount of money.
sounds possible if you never leave your parents basement.
Great video
Simplest video I’ve ever watched on investing.
I don’t really WANT to retire by thirty. That’s a little too soon for me, activity keeps you young 😭 but thanks for the info, I’ll still get rich off of it.
Lol, I turn 30 in 30 days, and this shows up on my recommended.
Love your work and there is no need to retire. I have trained many of the world's wealthiest people and I can tell you money does not equal health and happiness. If you have lots of money post 30s with little skills, meaningful relationships, and robust health you are are doomed to a long life of misery. Watch the Alan Watts video, If money were no object and hopefully you will see that this is the way to living a fulfilled life. Money does not equal fulfillment, flow, or happiness
That's something that somebody who has never been poor says. LOL!
Thank you for such an honest, helpful and straight forward video.
The only detail is the inflation... But your video is excellent!! Very true information
Watching this as I splurged on beer and pizza 👍🏽