I retired early at 54-and 364 days, basically 55. The best thing about retirement is that once "sunday gloom at 3pm"...whereby you start putting away your special projects and realize you need to get back into work...thinking about work sunday afternoon......that Sunday Work Gloom is Gone!, all the time is yours.....now you can continue working on your projects until late at night....no work thinking stress. Plus the added benefit of shopping...you don't shop EVER during Saturday and Sunday...Now you shop monday thru thursdays 9am til 2pm when nobody is in the stores. Also when you happen to get stuck in a line....no worries, you don't have to be anywhere, you got all day....there's absolutely no stress. I drive slower too...60 mph on highway is fast enough. Yes, early retirement is about investing in time....and more money always comes from my little hobbies i love doing. Tickled pink i don't have to drive out int he rat race int eh mornings and evenings. While you're stress driving at 5:00pm, I'm at Red Lobster a few miles from my home.Don't be jealous of me...be proactive...be a long-term thinker, save, invest and make long term decisions....and you too can retire early. Working after 50 gets hard...i know I've been there....it's not bad at 30, gets trying in your 40's...and when you're 50....you really need your own life and own projects...not someone elses.
Kapello Thank you!....Remember when your received $10,000.? ...."The Secret" on steroids manifestation....Yes, I remember when you received $10,000., so you will and "it is done!"
I noticed a comment below where the person asked what to do if one fell into a (lazy) funk. The problem with many wage earners is that they are in the mindset of having someone else telling them what to do. If they are able to shift themselves into an early retirement, the problem of wasting the day would probably have already been avoided/addressed since getting into early retirement took a certain amount of motivation and planning. I have noticed that young veterans come out of the service and stall horribly. They come out of a situation of having their entire day planned out for them by someone else, and when exiting the service, they come home and just sit there with no plans and fall into depression.
Setting a schedule and planning your own route appears to be learned. You have to practice at it just like any other skill. I wonder what the word for that is. Some sort of taking initiative?
Retiring early really is the best. Even if you don't have much money saved, I think more people should consider it. You can make enough to get by and put some back doing the things you love. I'd much rather be my own boss and make less than work for someone else.
The trick is to find out how much less you are willing to accept. I can say after doing this, I realize I am willing to accept much lower than I thought I would.
I retired 10 years ago and only work on jobs that I enjoy whenever I get fun opportunities (tour guide, vacation planner, swim with dolphins, as crew on a film set). My hours to run errands 10am-2pm. I haven't been bored since I was in like second grade.
Apt215 Melissa Brown aww. Thank you. Florida is my home base, but I spend as much time as I can traveling in my van or taking random international trips.
Tc Linn thank you tc I really love my life and need to remind myself when struggles come. Life is short, live it in whatever way makes you and those you love the happiest.
Personally, six years ago I almost got killed when a heavy ceiling fell on me as I slept in my unsafe apartment. Here's what could have been tragic...that if I had died that night...my WHOLE life leading up to the end of my life would have been work, work, work, worrying at work, worrying about work at home, glued to stressful work emails at home.... so very shortly after almost being killed, I was able to stop working, retire early with money saved and Social Security came later. Early retirement is possible, everything you advocate. Now I work on art, being in art shows, cooking, baking, enjoying life so much more. Your videos are great but so far this one is my fave. I would almost re-name this video, "Joys of retiring early."
Volunteer, give back to others, spend time with family, start new hobby, stay productive as member of society and not completely isolated. Congratulations on your financial freedom. Just dont want you to get lonely, depressed, or self absorbed.
I do my best to give back to society through my videos. Many are able to use my methods to receive free money specially when they are in a bad financial situation. One of the more notable way is to alleviate pain. How? By helping people remove their contacts when it gets stuck in their eye. Here: th-cam.com/video/4GN2VrI0swE/w-d-xo.html How about reducing hunger? Pack $1 lunches: th-cam.com/video/HTd_EDTB-qY/w-d-xo.html
Technically you are self employed. You are still working, but you don't have to answer to anyone (aka supervisor, etc). Being self employed takes discipline!! Thank you for the good videos!!
Technically, it is up to each individual to define what "retired" means. There is a large group of people who no longer "have" to work and therefore call themselves retired. I'm sure there are also people who will consider themselves retired when they are dead and there are also people who don't even consider what they do a "job" so they don't even feel like they are working or are employed. I think most are somewhere in between
Correct. But there is an additional point. You must enjoy it A LOT. You could be working for an employer and enjoy it a lot as well. Then is that not also kind of retired? In the end, is it not how you look at it? But then the commuting part is a deal breaker for me. If you are required to commute, then I have to say it's not being retired.
I love my job but can afford to retire. I went to part-time because I am too young for Medicare. Now I am "working for benefits". I call it semi-retired, lol.
I can appreciate what you say cause i have a work from home job. i feel like being able to control your time and having a flexible job and avoid daily 2 hour commute is a huge huge plus. it is priceless!!!
2 hours a day adds up quick. Not only the time spent but commuting really drains you. I'd say about 25%-50% of your energy is already spent after you commute 1 hour to work.
I’m a doctor and I like going to work on Monday. I have a lot of friends at work. On the weekend I’m excited for free time but I’m also excited to go back to work.
Nice! I'm glad you enjoy your work! That is the life isn't it? To enjoy what you do since I'm glad you enjoy saving lives. =D But if you won the lottery... 100 Million lets say. Will you still go to work? Maybe you still will. But you wont know if you really will until it really happens.
This was super helpful, Mr. BTB. I plan on retiring early in about 5 years and the idea of it seemed kind of vague because no one I know has the desire/will/ability to retire while they are still relatively young. And thanks for the time dialation discussion. I’d never heard this theory before but it makes perfect sense.
So many truth bombs here. Flexible travel, hanging out with friends that aren’t early retired only happens after their work hours, etc. Keep up the good work
buddy you hit the quantum time brain apprehension universe warp theory right on the lazer blaster. As soon as i started to structure my life a bit differently and cut out this mad influx of clutter, time slowed down.
=D HA HA... Universe warp theory? Lol, I like that. =D Isn't perception of time important. Feeling like you lived a wonderful, meaningful, and LONG life? Rather than lots of repetitive driving, work actions and 1 year flies by in a blink?
You put a perspective on this that I have not heard before. Interesting. One thing I've always said is that a job takes up a LOT of you time/life...but, you need to money to live.
You make fascinating videos. The variety of your topics is amazing and always either helpful or interesting to think about. Your editing skills keeps your videos fast moving and on point. I claimed Social Security, but still work. I still need the money, and I think for many who do not retire, it is because people get bored and cannot or do not have enough projects, hobbies or friends to fill their time. Many start feeling irrelevant and without purpose to anything outside themselves. I work part-time. It is enough to keep me involved, while allowing me ample personal time. For me, it's the best of both worlds. When work takes up all my time (in the past) I saw life slipping away on the altar of corporate America. There was no balance. So part-time became my goal, and I never worked full-time again since my mid-fifties. If we all worked as hard on carving out a financial picture as we do on working for someone else, we would be better off.
Thanks! And all thanks to my spastic interest in everything. How can anyone not have enough hobbies to fill their time? I think it takes practice. Or maybe it's based on personality. Instead of working part-time which I equate to just throwing away your time, you could work on a hobby that makes you money. When you have that goal, that hobby becomes an incredible time sink. You can funnel as much time as you want into it and it will never stop needing more. You actually have to limit yourself from spending all your time with it and have to stop and do other social activities on purpose.
I retired at 45 two years ago after 23 years working full time and saving/investing...it was the best decision I ever made. I'm financially independent now. The time flies by so fast. 1 week feels like a few days.
In retirement. I wasn't sure if i getting bored after 1 year not working, so I told to myself "i'm going on a 1 year sabbatical and see if it goes", but i'm so happy with my current life (time flies). No stress and no obligations. Just relaxing and spend my time on my hobbies. I've more energie and picked up old hobbies that I stopped 25 years ago.
I'm a resent follower to your channel and find your channel very interesting. I have been binge watching your videos and after this one here I was wondering how long was your commuted back and forth to work. Thanks for the great videos.
It's always hovered around 20 minutes but that's only if I can manage to drive off peak hours. During peak hours its 40 minutes. Short to some people that have 3 hours commutes.
This is good info. I plan on retiring in the next three years and it helps me look forward to it even more. What about exercise? Since you have more time and more energy, do you find yourself keeping up on a regular exercise program? Do you find you take better care of your health? I find it hard to exercise regularly while I’m working. Just want to veg after work.
Not retired but I have managed to reduce my professional career to a small sliver of my time. It seems like the only way to live like a real human being. 99% of people don't have the time to take care of themselves, learn, or grow I find it very sad. Way to take the plunge.
Great video. I hope listen to you more to convince myself to quit my current "golden handcuff, but demoralizing" job sooner rather than latter, and finally going to do something I find interesting.
Hello Beatthebush. Btw I love your videos. Here is my situation. Last year in June I was 20 and got sold a life ins / retirement acct policy with transamerica. I'm paying $100 total each month with automatic payments. I have no children or defendants m, the beneficiary is my mom. I'm thinking about canceling this policy bc I've been told it's too expensive, and that I don't need it because of my age and the fact I have 0 dependents. I'm already leaning towards canceling but before I do anything else I want to hear what your thoughts are.
Depending on the policy, you might want to check if you can sort of cash out the value. Yes, its true, if you have no one to leave the money to that is dependent on you, then why do you need it? You'll be dead by then. However, you might consider if you want to keep it if maybe later on you do have dependents. All of this depends on the terms of your policy.
I quit my job at 27 in accounting, to pursue writing full-time. I've written since I was young and did it free as a hobby for years. I still work, but when I want and how I want, doing what I love. I don't know if that's retirement, but I wake up everyday when I want and am able to prioritize my day, without dreading a minute of it. May not be retirement, but for the past seven years, it has sure felt like it.
Nice one! I want to suggest this is sort of like semi-retirement because you are doing what you love. Just make sure that as soon as you don't like it, it's no longer semi-retirement.
Francis have you thought about some adventure hobbies like sailing surfing scuba hang gliding skydiving etc.? I retired in my 20s and did a lot of travel and cool stuff. Then I had a family and my monthly nut went up by an order of magnitude and forced me out of retirement. Great video! Come to NYC in your travels.
Nick Kravitz - Aren't those expensive and don't you have to sign a waiver? Those are "thrill sports," cuz nothing makes a White guy feel more alive, happy and free than risking his hyde and yelling "Ow" at the end. :)
Those extreme sports I did a few, not too big a fan of them now though. That sucks you have to go out of retirement. NYC is on my short list to travel. Always wanted to see.
BTB could you make a video how you invest in the stock market more detailed (just single stocks or ETF too, just the US or other areas too, how many different stocks... etc...)? I already whatched all your investiting videos - more detailed Info would be great 😎 Also how did you came on track to FIRE? Did you plan it from the beginning and how many years did it took you? Great video as always 👍
As an overall strategy, I'm actually very conservative because I'm in my position and I do not want a market downturn to bring me out of it. So you can imagine, my strategy will greatly differ from someone aiming at retiring at 50-65 range. FIRE track. I've saved aggressively ever since I started earning money. But from a video or two, you will also know I spent a lot more before as well from random hobbies. Those toned down and I got more and more aggressive starting about 3-5 years ago.
Tax experts should know their thing. It's hard to say because you would hardly ever try both routes and compare. It also depends on the skill of your tax expert.
I have been watching your videos for a while; I feel your video style is showing a way to explain yourself in your current situations of the choices you have made. It feels like you are trying to find people or audience who are more or less agreeing to your views rather than giving them insightful advices in life(i originally watched your videos because I find it inspiring to think differently in an insightful way). Furthermore, I have a feeling now that deep in your thoughts, you are regretting quitting your job(maybe I am totally wrong about it but I see you mention that 'you were making 6 figures' in most of your previous and this videos). Overall, I think you can plan out a better lifelong goal to inspire people and really leave an awesome legacy behind during or after the later stages of your life. All in all, I wish the best of you.
Overall pretty rude comment to make so many assumptions. Based on what you said, I think I can assume you are not a retired person? Let me know if I am wrong. So if you are not, then it's likely better to say where you are is best rather than have tried both and say for certain which is better, retried or not. For those in the comments that said they are retired, they overwhelmingly said it is by far better than working. I don't even have to think for a split second if this is true. It is.
How am I so rude? I am just giving you some feedback based on what you were saying. If I am wrong please try to prove or show I am wrong instead of assuming my comments are ill-mannered. Overall, I feel you are trying to justify your role and your life choices. And now I feel you are a bit bigot now. Have a good time justifying yourself further.
Debt management, consumption management. Lowering the costs of living and traveling in creative ways, and multiple streams of semi passive income. family money 🤣😂🤣 thats a good one.
tuan vu build up some side hustles. eBay, Amazon, etsy for example. "digital dollars" coming in in different ways, all while lowering your cost of living. It's a very attainable dream for all if we make more than we spend. What do you work as right now for your main source of income?
Nice vid. I did a couple of mini-retires along the way but getting ready for the real deal on FI soon--very soon. Practicing my frugality to make the $ last. I agree with you on the stretching of time. That was my experience as well and now looking forward to it again. I cannot recall if you did a vid on the 4% rule but wondering if that was your plan?
Great! Lots of videos how to cut expenses on here. Try this one: th-cam.com/video/H4nt1gNjxIU/w-d-xo.html if you haven't seen it already. I did a vid on 4% but I don't lean on that too heavily.
I’m a classic type A personality. I took a “forced” retirement and it was so boring the first few months. Medical appointments ate up a good portion of my time. Now, healthy, 18 years have flown by. I do get more compliments on my complexion, stress will make you look old. I love being able to read whatever whenever. The old bucket list has long since been finished. Now, if I see something interesting, I’ll just go and do it. Gasp! I had to edit 3 times. Right hand in a cast.
BeatTheBush the completed bucket list were fairly easy. I don’t make a bucket list anymore, if I see something I want to do, I just do it then. I doubt I’ll be physically able to climb Mount Everest, but I was happy knowing I hiked the Blue Ridge Parkway in North Carolina. Learning to paint better with oil paints is just a work in progress. Travel around the World. Did it twice. See Jeju Island in Korea, tickets booked. See Japan’s Lavender fields, planning for 2019. www.japan-guide.com/e/e6826.html. Irritate Beat the Bush with funny old lady videos? Ongoing. Take to the stage and perform ballet with my daughter and granddaughter, I’m choreographing that now. Three generations of Prima Ballerinas is amazing. Take two semesters of any college/university, BUT I want to live in the dorms like an incoming Freshman. The World is so big and there are so many things to do.
Been watching your videos for a while and this is fascinating. I do enjoy working in biomedical research but always wonder what it would be like to completely depend on ME for all my income. Thanks for the inspiring video !
You have to go back bro and watch his other finance related videos. When you have time, just binge watch. They are categorized by playlist. If you touch or click the thumbnail, it pops up, in case you're not familiar with YT setup. (I guess I'm like his personal assistant, but seriously he covers it pretty thoroughly).
Ken Tong - Since I have seen real estate spike and drop over 4 decades, I would normally not agree with counting the RE, but he's in a very RE sustainable area, like Manhattan or Tokyo, a place people want to live - very well established with affluent residents, so in this case, I think it's a safe bet to count RE. I woudn't trust the McMansions comms that cater to new money with young families willing to be cash poor just for a swimming pool and mediocre school district. I've watched homes like that sit on the market for years and you know they end up taking a loss.
1 year?? Dam thats very long, no way I can speed up the process. I am trying to acquire as many credit cards as possible earlier so I can have a strong base. So far I have 3 personal cards over a year old and a new one recently.
I quit my day job too. It was one of the best decision in my life. The most important part is that I could choose whom I hang out with, avoid negative people. Also, I have time to do a bit of soul searching which I do not have time to do when I was in a day job. Now I can draw my fantasy comic book which is a project that excited me.
so do you also do engineering related activities? Do you think you will forget any of that? if you were to go back to that kind of job years from now do you think your knowledge would be outdated by then?
I have no idea. During my engineering, I seem to do higher and higher level things and even switching from one concentration to another. Then again... core principles never gets out dated. I = c*dv/dt lol
Plenty of them on the net already. The two that I use is a simple mortgage calculator to tell me how much I can use every month from my large lump sum. And I use a compound interest calculator.
I do indeed do that in the form of excel spreadsheets. I load them on Dropbox accessible to Patreon members. Past one include a Net Worth one and others.
You are totally right. Even my airsoft todo list is inflated even though that is something fun to do. For example I have this M16 replica that I want to convert to a DMR and it is almost ready except the gearbox because that would take several hours to do and then the next day I wouldn't have energy to go to work. So I can either sacrifice one of my Sundays or only do small steps at a time and then leave the disassembled parts on the table - neither of them is my favorite choice.
I need about $80,000 a year to live comfortably. So a 2 million net worth in the stock market with the $4% rule makes $80,000 a year with the net worth never going down. So a 2 million net worth plus a paid off home would be about what it would take for me to not work ever again.
I think you mean make sure you remain retired after you become retired. I've said before that my yearly burn rate is about $40k. Benton: That sounds like a high burn rate.
Glad to see you back at home with the stuffed animals. What do you think about foregoing a $2k per month retirement plus 401K at age 57 to retire early at age 41?
I'll be FI in January of next year, shortly before turning 23. Technically won't be retired for three more years, but I've been living a pseudo-retired life for the past 6 months. It really is nice.
Those don't last long. Eventually you get bored and want to do something. Then you get up and do it. I rarely go a week "doing nothing" (ie playing video games and screwing around on the internet) aside from regular side hustles before I feel the need to do something else.
It seems many of these budgeting videos say we need so much money to retire. Very few people age 5o and above do not have much money in retirement. What advice do you have for these people? This video is wonderful.
My advise to u. Quit your job. Get more money in another company and continue quitting and gttting more jobs. I started with a 30k job 3 years ago. And now in 2018 I'm on my 6th job and make 62k. 30 to 38k. 38k to 48k. 48k to 60k are some examples. I now make more than the median household income with is around 57k I believe. And I can save 2k everymonth I see ppl crying cuz they don't get a raise or hve been in same compnay 10 years. I get 25% raises just by finding other jobs. U can either waste ur time in a bad company or quit a job every 6 months until u make above 60k. Which less 60% of thr population makes That's what works for me :)
This is why I love working 12hrs shift. I work 3 or 4 days/week alternating, and get 3-4 days weekend in return. This puts me at 84hrs of work bi weekly vs the normal 80hrs, but I also save time from commuting and getting ready for work and all that. Lots of pros and cons.
I think when you retire very early, lots of friends will either feel sorry for you thinking you made a mistake, how will you get by, or they will envy you and think how can you be so selfish. But in the end you have to do what is right for you.
Thanks for the reply. I have 2 kids and I can honestly say that they are the biggest drain on my/our resources than anything else (although I love them and wouldn't change it of course). I've watched many of these type of retirement videos and none of them seem to include kids. I guess this type of lifestyle is probably impossible if you have kids.
It appears that at least one of the consequences of early retirement is a growing community of stuffies to support...😄 Everything you've said in this video is something I've thought my self at one time or another. I really like how you think. It would take me at least ten years to get through my current personal to do/ wanna do list, so I also look forward to early retirement. Or rather, if I retired right now, I'd be so busy with my other stuff that I wouldn't even notice.
It's good to have a long list of things you want to do. Sounds like you are ready to retire in that sense outside of the money factor. One can always do a test run by taking a week off and pretend you are retired rather than travelling.
BeatTheBush Done that more than once. I still didn't have enough time to get everything done that I wanted to. * Just noticed that Autocorrect tripped me up in my original comment... I meant "community of stuffies", not "studies", LOL. Fixed it now. Freakin Autocorrect. Sheesh.
I retired early at 54-and 364 days, basically 55. The best thing about retirement is that once "sunday gloom at 3pm"...whereby you start putting away your special projects and realize you need to get back into work...thinking about work sunday afternoon......that Sunday Work Gloom is Gone!, all the time is yours.....now you can continue working on your projects until late at night....no work thinking stress. Plus the added benefit of shopping...you don't shop EVER during Saturday and Sunday...Now you shop monday thru thursdays 9am til 2pm when nobody is in the stores. Also when you happen to get stuck in a line....no worries, you don't have to be anywhere, you got all day....there's absolutely no stress. I drive slower too...60 mph on highway is fast enough. Yes, early retirement is about investing in time....and more money always comes from my little hobbies i love doing. Tickled pink i don't have to drive out int he rat race int eh mornings and evenings. While you're stress driving at 5:00pm, I'm at Red Lobster a few miles from my home.Don't be jealous of me...be proactive...be a long-term thinker, save, invest and make long term decisions....and you too can retire early. Working after 50 gets hard...i know I've been there....it's not bad at 30, gets trying in your 40's...and when you're 50....you really need your own life and own projects...not someone elses.
Accuracy Marked congratulations!
Kapello Thank you!....Remember when your received $10,000.? ...."The Secret" on steroids manifestation....Yes, I remember when you received $10,000., so you will and "it is done!"
Preach!
what are you talking about?
So you retired because you got a pension?
I noticed a comment below where the person asked what to do if one fell into a (lazy) funk. The problem with many wage earners is that they are in the mindset of having someone else telling them what to do. If they are able to shift themselves into an early retirement, the problem of wasting the day would probably have already been avoided/addressed since getting into early retirement took a certain amount of motivation and planning. I have noticed that young veterans come out of the service and stall horribly. They come out of a situation of having their entire day planned out for them by someone else, and when exiting the service, they come home and just sit there with no plans and fall into depression.
Setting a schedule and planning your own route appears to be learned. You have to practice at it just like any other skill. I wonder what the word for that is. Some sort of taking initiative?
Retiring early really is the best. Even if you don't have much money saved, I think more people should consider it. You can make enough to get by and put some back doing the things you love. I'd much rather be my own boss and make less than work for someone else.
The trick is to find out how much less you are willing to accept. I can say after doing this, I realize I am willing to accept much lower than I thought I would.
I retired 10 years ago and only work on jobs that I enjoy whenever I get fun opportunities (tour guide, vacation planner, swim with dolphins, as crew on a film set). My hours to run errands 10am-2pm. I haven't been bored since I was in like second grade.
Hi CoolCat you are awesome and living a more meaningful life!
I'm impressed and envious. You must be in Florida.
Apt215 Melissa Brown aww. Thank you. Florida is my home base, but I spend as much time as I can traveling in my van or taking random international trips.
Tc Linn thank you tc I really love my life and need to remind myself when struggles come. Life is short, live it in whatever way makes you and those you love the happiest.
Ay I’m a tour guide on a farm and have a couple years of experience touring. Could you help me find a dream job touring somewhere exceptional?
I discovered your channel last week, and have been really enjoying it everyday!! Full of insight, wisdom and encouragement!
Personally, six years ago I almost got killed when a heavy ceiling fell on me as I slept in my unsafe apartment. Here's what could have been tragic...that if I had died that night...my WHOLE life leading up to the end of my life would have been work, work, work, worrying at work, worrying about work at home, glued to stressful work emails at home.... so very shortly after almost being killed, I was able to stop working, retire early with money saved and Social Security came later. Early retirement is possible, everything you advocate. Now I work on art, being in art shows, cooking, baking, enjoying life so much more. Your videos are great but so far this one is my fave. I would almost re-name this video, "Joys of retiring early."
Retire early and become a vampire, that's the dream.
Vampire-like. =D You know those shows where the vampire is 300 years old talking to a human? It's can get that way.
Volunteer, give back to others, spend time with family, start new hobby, stay productive as member of society and not completely isolated. Congratulations on your financial freedom. Just dont want you to get lonely, depressed, or self absorbed.
This is good advice.
I do my best to give back to society through my videos. Many are able to use my methods to receive free money specially when they are in a bad financial situation.
One of the more notable way is to alleviate pain. How? By helping people remove their contacts when it gets stuck in their eye. Here: th-cam.com/video/4GN2VrI0swE/w-d-xo.html
How about reducing hunger? Pack $1 lunches: th-cam.com/video/HTd_EDTB-qY/w-d-xo.html
Technically you are self employed. You are still working, but you don't have to answer to anyone (aka supervisor, etc). Being self employed takes discipline!! Thank you for the good videos!!
Technically, it is up to each individual to define what "retired" means. There is a large group of people who no longer "have" to work and therefore call themselves retired. I'm sure there are also people who will consider themselves retired when they are dead and there are also people who don't even consider what they do a "job" so they don't even feel like they are working or are employed. I think most are somewhere in between
Correct. But there is an additional point. You must enjoy it A LOT.
You could be working for an employer and enjoy it a lot as well. Then is that not also kind of retired?
In the end, is it not how you look at it? But then the commuting part is a deal breaker for me. If you are required to commute, then I have to say it's not being retired.
BeatTheBush I don’t consider it retired if you are still employed regardless if you enjoy it.
I love my job but can afford to retire.
I went to part-time because I am too young for Medicare.
Now I am "working for benefits". I call it semi-retired, lol.
That might be me in 10 years at 55. Hopefully, by then HC ins will be basically free.
My light bulb moment of this video - "I feel like I live a lot longer than other people" ! - so true
It's a time machine. Crazy.
I can appreciate what you say cause i have a work from home job. i feel like being able to control your time and having a flexible job and avoid daily 2 hour commute is a huge huge plus. it is priceless!!!
The best 😍
2 hours a day adds up quick. Not only the time spent but commuting really drains you. I'd say about 25%-50% of your energy is already spent after you commute 1 hour to work.
exactly. i do go in to work once in a while but when i do i feel extra tired....
I’m a doctor and I like going to work on Monday. I have a lot of friends at work. On the weekend I’m excited for free time but I’m also excited to go back to work.
Nice! I'm glad you enjoy your work! That is the life isn't it? To enjoy what you do since I'm glad you enjoy saving lives. =D
But if you won the lottery... 100 Million lets say. Will you still go to work? Maybe you still will. But you wont know if you really will until it really happens.
BeatTheBush yeah that question comes up a lot at work lol I would def take some time off but I might work like 3 days a weeks instead of 5 ha !!!
How are you not on-call?
Just curious in what specialty are you ?
Best channel on youtube! Thank you very much sir!
Thank you! =D
I really enjoy your videos especially ones like this where you give your opinion and life experiences! Keep doing what you're doing!
Thanks! Based on experience is best so sometimes I may hold off on a video until I experience it first hand.
This was super helpful, Mr. BTB.
I plan on retiring early in about 5 years and the idea of it seemed kind of vague because no one I know has the desire/will/ability to retire while they are still relatively young.
And thanks for the time dialation discussion. I’d never heard this theory before but it makes perfect sense.
I would think this idea is a bit more known these days. Still, when I ask around friends, no one really is ACTUALLY doing it.
So many truth bombs here. Flexible travel, hanging out with friends that aren’t early retired only happens after their work hours, etc.
Keep up the good work
Awesome BTB! Been following your channel for a while now and I’m super inspired to achieve what you have accomplished! Thanks man!
You're welcome!
Very interesting opinions on time, learning and freedom. Thank you.
I will quit my job ! Thank you bush.
Wait what? Don't quit if you are not ready.
I am ready!!
5000k a month /20 years from the california scratcher..
buddy you hit the quantum time brain apprehension universe warp theory right on the lazer blaster. As soon as i started to structure my life a bit differently and cut out this mad influx of clutter, time slowed down.
=D HA HA... Universe warp theory? Lol, I like that. =D Isn't perception of time important. Feeling like you lived a wonderful, meaningful, and LONG life? Rather than lots of repetitive driving, work actions and 1 year flies by in a blink?
To Do list: watch all of BeatTheBushes videos, it keeps growing!!
Uhhh... sorry, I make them daily. At least you can just focus on one topic via the playlist. It gets a lot more manageable.
What do you do for health care
Buy it outright in full price. Video on that soon.
You put a perspective on this that I have not heard before. Interesting. One thing I've always said is that a job takes up a LOT of you time/life...but, you need to money to live.
Life is short. Too short to do something just for money but most people do not have a way out.
You make fascinating videos. The variety of your topics is amazing and always either helpful or interesting to think about. Your editing skills keeps your videos fast moving and on point.
I claimed Social Security, but still work. I still need the money, and I think for many who do not retire, it is because people get bored and cannot or do not have enough projects, hobbies or friends to fill their time. Many start feeling irrelevant and without purpose to anything outside themselves. I work part-time. It is enough to keep me involved, while allowing me ample personal time. For me, it's the best of both worlds. When work takes up all my time (in the past) I saw life slipping away on the altar of corporate America. There was no balance. So part-time became my goal, and I never worked full-time again since my mid-fifties. If we all worked as hard on carving out a financial picture as we do on working for someone else, we would be better off.
Thanks! And all thanks to my spastic interest in everything.
How can anyone not have enough hobbies to fill their time? I think it takes practice. Or maybe it's based on personality.
Instead of working part-time which I equate to just throwing away your time, you could work on a hobby that makes you money. When you have that goal, that hobby becomes an incredible time sink. You can funnel as much time as you want into it and it will never stop needing more. You actually have to limit yourself from spending all your time with it and have to stop and do other social activities on purpose.
I retired at 45 two years ago after 23 years working full time and saving/investing...it was the best decision I ever made. I'm financially independent now. The time flies by so fast. 1 week feels like a few days.
NICE NICE NICE! You mean time flies by fast in retirement of when you're working?
In retirement. I wasn't sure if i getting bored after 1 year not working, so I told to myself "i'm going on a 1 year sabbatical and see if it goes", but i'm so happy with my current life (time flies). No stress and no obligations. Just relaxing and spend my time on my hobbies. I've more energie and picked up old hobbies that I stopped 25 years ago.
So true. Thank you very much for your posts. I admire your mind so much.
If only to make you think about what steps to take to do the same. Starting is the hardest.
A good three day weekend is when the lawn gets mowed.
Sad but true.
This is such an awesome way of viewing early retirement. It honestly just makes me want it even more.
You can at least prepare for it and practice. Take a week off at stay at home. Most people get bored until they drive themselves crazy.
Great points...I'm planning on retirement my self in the next year at 55 years old from the commercial construction.
What do you do about health insurance if you want to retire early (under 65) and lose your employers health plan?
You just buy it yourself. Here is a video on it: th-cam.com/video/zztaG_VP5no/w-d-xo.html
I'm a resent follower to your channel and find your channel very interesting. I have been binge watching your videos and after this one here I was wondering how long was your commuted back and forth to work. Thanks for the great videos.
It's always hovered around 20 minutes but that's only if I can manage to drive off peak hours. During peak hours its 40 minutes. Short to some people that have 3 hours commutes.
I couldn't tell you how many times I've stayed up until 3am. Even 4am. Gotta love it!
AH AHHA HA... 3-4am... Without knowing. That's when you know you've found something you LOVE to do. Glad to hear it what ever it is you were doing.
This is good info. I plan on retiring in the next three years and it helps me look forward to it even more. What about exercise? Since you have more time and more energy, do you find yourself keeping up on a regular exercise program? Do you find you take better care of your health? I find it hard to exercise regularly while I’m working. Just want to veg after work.
How do you deal with providing health care coverage for family?
You have to factor that in. It increases as you age too so it's a killer.
I know these feels. Glad to know i'm not alone. Nice vids.
So many retired people watching my vids!
Not retired but I have managed to reduce my professional career to a small sliver of my time. It seems like the only way to live like a real human being. 99% of people don't have the time to take care of themselves, learn, or grow I find it very sad. Way to take the plunge.
Look forward to seeing the future. Thanks
I'm excited to see what comes as well. Its sort of changing faster than I can ever imagine.
How do you actually create your own Amazon page?
You apply to the program and they need to approve you on a case by case basis.
man, you are good! Thanks for sharing.
Great video. I hope listen to you more to convince myself to quit my current "golden handcuff, but demoralizing" job sooner rather than latter, and finally going to do something I find interesting.
The sooner you can do a hand off in what supports your life, the earlier you can do it.
Self employment is the best. Only difficulty is self-discipline - but the challenge of mastering that is also great, it teaches a lot about yourself.
It really does take some practice to guide yourself. People are not normally wired this way if you've been told what to do your whole life.
Hello Beatthebush. Btw I love your videos.
Here is my situation. Last year in June I was 20 and got sold a life ins / retirement acct policy with transamerica. I'm paying $100 total each month with automatic payments. I have no children or defendants m, the beneficiary is my mom. I'm thinking about canceling this policy bc I've been told it's too expensive, and that I don't need it because of my age and the fact I have 0 dependents. I'm already leaning towards canceling but before I do anything else I want to hear what your thoughts are.
Depending on the policy, you might want to check if you can sort of cash out the value. Yes, its true, if you have no one to leave the money to that is dependent on you, then why do you need it? You'll be dead by then. However, you might consider if you want to keep it if maybe later on you do have dependents. All of this depends on the terms of your policy.
I quit my job at 27 in accounting, to pursue writing full-time. I've written since I was young and did it free as a hobby for years. I still work, but when I want and how I want, doing what I love. I don't know if that's retirement, but I wake up everyday when I want and am able to prioritize my day, without dreading a minute of it. May not be retirement, but for the past seven years, it has sure felt like it.
Nice one! I want to suggest this is sort of like semi-retirement because you are doing what you love. Just make sure that as soon as you don't like it, it's no longer semi-retirement.
The concept of time dilation is so fascinating
More and more videos on time, please! Especially on the philosophy of time and how to use it well. ❤
There's a tug of war between what type of content I should present on this channel. I'll just rotate around everything.
What do you do for health insurance?
I'm not willing to spend a ton of money for mediocre coverage.
the camera seems to jump in and out of focus
I messed up. I figured out why so yeah. No more of this in future vids.
BeatTheBush lol, didn't think you would reply that fast, also thank you very much for this information!
Thanks for everything
You're welcome!
What about health insurance? Do you have any?
Yes, that video is still in the making.
Francis have you thought about some adventure hobbies like sailing surfing scuba hang gliding skydiving etc.? I retired in my 20s and did a lot of travel and cool stuff. Then I had a family and my monthly nut went up by an order of magnitude and forced me out of retirement. Great video! Come to NYC in your travels.
Nick Kravitz - Aren't those expensive and don't you have to sign a waiver? Those are "thrill sports," cuz nothing makes a White guy feel more alive, happy and free than risking his hyde and yelling "Ow" at the end. :)
Those extreme sports I did a few, not too big a fan of them now though. That sucks you have to go out of retirement. NYC is on my short list to travel. Always wanted to see.
Congratulations!!!
BTB could you make a video how you invest in the stock market more detailed (just single stocks or ETF too, just the US or other areas too, how many different stocks... etc...)? I already whatched all your investiting videos - more detailed Info would be great 😎
Also how did you came on track to FIRE? Did you plan it from the beginning and how many years did it took you?
Great video as always 👍
As an overall strategy, I'm actually very conservative because I'm in my position and I do not want a market downturn to bring me out of it.
So you can imagine, my strategy will greatly differ from someone aiming at retiring at 50-65 range.
FIRE track. I've saved aggressively ever since I started earning money. But from a video or two, you will also know I spent a lot more before as well from random hobbies. Those toned down and I got more and more aggressive starting about 3-5 years ago.
Great video!
Thanks!
What are you doing for health insurance then?
Buying it full price.
How much does that cost you?
Love your insight cause it’s on TARGET!!!! 👍
Thanks!
What's the best way to do your taxes if you just bought a house? Should I turbo tax or try to talk to an expert and get refunds for house projects?
Tax experts should know their thing. It's hard to say because you would hardly ever try both routes and compare. It also depends on the skill of your tax expert.
I have been watching your videos for a while; I feel your video style is showing a way to explain yourself in your current situations of the choices you have made. It feels like you are trying to find people or audience who are more or less agreeing to your views rather than giving them insightful advices in life(i originally watched your videos because I find it inspiring to think differently in an insightful way). Furthermore, I have a feeling now that deep in your thoughts, you are regretting quitting your job(maybe I am totally wrong about it but I see you mention that 'you were making 6 figures' in most of your previous and this videos). Overall, I think you can plan out a better lifelong goal to inspire people and really leave an awesome legacy behind during or after the later stages of your life. All in all, I wish the best of you.
Overall pretty rude comment to make so many assumptions. Based on what you said, I think I can assume you are not a retired person? Let me know if I am wrong. So if you are not, then it's likely better to say where you are is best rather than have tried both and say for certain which is better, retried or not.
For those in the comments that said they are retired, they overwhelmingly said it is by far better than working. I don't even have to think for a split second if this is true. It is.
How am I so rude? I am just giving you some feedback based on what you were saying. If I am wrong please try to prove or show I am wrong instead of assuming my comments are ill-mannered. Overall, I feel you are trying to justify your role and your life choices. And now I feel you are a bit bigot now. Have a good time justifying yourself further.
I've been retired since I got out of school. 😍 🤙 Work is optional.
Seriously? How the heck did you do that?
Probably due to family funded money.
Debt management, consumption management. Lowering the costs of living and traveling in creative ways, and multiple streams of semi passive income. family money 🤣😂🤣 thats a good one.
you are living the dream, specifically my dream.
tuan vu build up some side hustles. eBay, Amazon, etsy for example. "digital dollars" coming in in different ways, all while lowering your cost of living. It's a very attainable dream for all if we make more than we spend. What do you work as right now for your main source of income?
Nice vid. I did a couple of mini-retires along the way but getting ready for the real deal on FI soon--very soon. Practicing my frugality to make the $ last. I agree with you on the stretching of time. That was my experience as well and now looking forward to it again. I cannot recall if you did a vid on the 4% rule but wondering if that was your plan?
Great! Lots of videos how to cut expenses on here. Try this one: th-cam.com/video/H4nt1gNjxIU/w-d-xo.html if you haven't seen it already. I did a vid on 4% but I don't lean on that too heavily.
What type of welding?
TIG or regular stick. I'm terrible at it. Still practicing.
Great sharing! I have been wondering how it feels to retire in early age!
=D This and much more. Where do I begin?
I’m a classic type A personality. I took a “forced” retirement and it was so boring the first few months. Medical appointments ate up a good portion of my time. Now, healthy, 18 years have flown by. I do get more compliments on my complexion, stress will make you look old. I love being able to read whatever whenever. The old bucket list has long since been finished. Now, if I see something interesting, I’ll just go and do it. Gasp! I had to edit 3 times. Right hand in a cast.
You got a new stuffed toy. What’s its name?
Imagine... bucket list completed. Does it not get additional items sometimes? New guy is Snorlax. Everybody knows that. lol.
BeatTheBush the completed bucket list were fairly easy. I don’t make a bucket list anymore, if I see something I want to do, I just do it then. I doubt I’ll be physically able to climb Mount Everest, but I was happy knowing I hiked the Blue Ridge Parkway in North Carolina. Learning to paint better with oil paints is just a work in progress. Travel around the World. Did it twice. See Jeju Island in Korea, tickets booked. See Japan’s Lavender fields, planning for 2019. www.japan-guide.com/e/e6826.html. Irritate Beat the Bush with funny old lady videos? Ongoing. Take to the stage and perform ballet with my daughter and granddaughter, I’m choreographing that now. Three generations of Prima Ballerinas is amazing. Take two semesters of any college/university, BUT I want to live in the dorms like an incoming Freshman. The World is so big and there are so many things to do.
th-cam.com/video/VmV1gktS2jo/w-d-xo.html lmao
Date a hot Asian guy? Stranger things have been known to happen. PS: he must be my age!
I love this reflection, good to hear your thoughts. I just gave my 30 day notice!
Omg... I hope you have a plan and not just quit. I.e. financially you need to know you'll be okay for long periods.
What’s considered retiring early?
You can not work and all your expenses covered for the rest of your life.
You definitely look refreshed. Even your eyes seem bigger.
Lol... I get much better sleep in my own bed.
Francis, do you ever get bored with so much time on your hands? I work from home and I find myself bored very often
Not yet. I am still working through my things to do.
What did you do for health insurance? Low premium, high deductible plan? Curious as this is one of the challenges for “early retirees.”
Ahhh.. you just BUY it outright. Will have a vid on this later.
Great! Looking forward to the vid. 👍
I feel a similar way in college. Avoid traffic and busy times at stores. I only work part time now until college is over with.
Traffic is such a waste of time.
I just call in sick on Monday's. Use my sick time. Problem solved.
You only have what? 5 of them a year?
Cool like That lol
We all have vacations...4-5 weeks a year. Not to mention Personal Obligation Days.
i have a question for you.
Usually people just ask.
Is a 1 hour commute worth it if you work from home on mondays off weekends and have every other friday off ? hours are usually 6 am-4pm
Been watching your videos for a while and this is fascinating. I do enjoy working in biomedical research but always wonder what it would be like to completely depend on ME for all my income. Thanks for the inspiring video !
It's a great feeling and liberating. Only very few will ever taste the feeling.
What books you recommend?
Not many right now. Try my Investing playlist, I recommend one on the first video.
At what age did you stop working?
Just couple months ago. I have not disclosed my age.
How is your net worth increasing when you are not working?
Housing bubble, he counts his house in net worth.
Real estate n securities (n low expenses). Everyone's a genius when markets r increasing. Everyone's dumb when they tank.
You have to go back bro and watch his other finance related videos. When you have time, just binge watch. They are categorized by playlist. If you touch or click the thumbnail, it pops up, in case you're not familiar with YT setup. (I guess I'm like his personal assistant, but seriously he covers it pretty thoroughly).
Ken Tong - Since I have seen real estate spike and drop over 4 decades, I would normally not agree with counting the RE, but he's in a very RE sustainable area, like Manhattan or Tokyo, a place people want to live - very well established with affluent residents, so in this case, I think it's a safe bet to count RE.
I woudn't trust the McMansions comms that cater to new money with young families willing to be cash poor just for a swimming pool and mediocre school district. I've watched homes like that sit on the market for years and you know they end up taking a loss.
Investments, he made a killing on bitcoin alone.
Can you do a short one on your favorite books on finance, or whatever you like?
I review a few. There's one here: th-cam.com/video/q_jZb7O6Luo/w-d-xo.html
Unrelated question--- when I get a credit card denied for to many inquiries when would be the next time to apply?
3 years.
In about 1 year at the fastest. 2 years for the hard inquiries to fall off your credit report.
1 year?? Dam thats very long, no way I can speed up the process. I am trying to acquire as many credit cards as possible earlier so I can have a strong base.
So far I have 3 personal cards over a year old and a new one recently.
great video, thanks! :)
You're welcome!
I seem to experience reverse time dilation. Sundays seem to fly, but weekdays seem to drag.
I love your video and lifestyle. It motivates me to create great videos to improve others. But still long way for me to go 😓
One little step at a time. One little step means you do something today. Anything that is a little towards your goal.
BeatTheBush Thanks. Your advice energized me 💕
I quit my day job too. It was one of the best decision in my life. The most important part is that I could choose whom I hang out with, avoid negative people. Also, I have time to do a bit of soul searching which I do not have time to do when I was in a day job. Now I can draw my fantasy comic book which is a project that excited me.
so do you also do engineering related activities? Do you think you will forget any of that? if you were to go back to that kind of job years from now do you think your knowledge would be outdated by then?
I have no idea. During my engineering, I seem to do higher and higher level things and even switching from one concentration to another. Then again... core principles never gets out dated. I = c*dv/dt lol
Do you have any interest in making financial calculator tools?
Plenty of them on the net already. The two that I use is a simple mortgage calculator to tell me how much I can use every month from my large lump sum. And I use a compound interest calculator.
I do indeed do that in the form of excel spreadsheets. I load them on Dropbox accessible to Patreon members. Past one include a Net Worth one and others.
Screw the rat race! Yay!
It's more like sail boat coasting now. =D
How long are you planning on doing youtube for?
I don't know. Things change so much that what I intend to do could change. I'm pretty flexible on this.
I hope this video goes viral. This is awesome information. Thanks dude
Thanks! I hope so too! =D
How much do you play video games?
In the past year or so, I played about 1 hour worth. I may play more as God of War looks fun.
You are totally right. Even my airsoft todo list is inflated even though that is something fun to do. For example I have this M16 replica that I want to convert to a DMR and it is almost ready except the gearbox because that would take several hours to do and then the next day I wouldn't have energy to go to work. So I can either sacrifice one of my Sundays or only do small steps at a time and then leave the disassembled parts on the table - neither of them is my favorite choice.
Sounds like you need more time. =D
You know where I can get some of that?
what is the minimum u need and how to make sure u can retired?
Depends on your monthly living expenses...
I need about $80,000 a year to live comfortably. So a 2 million net worth in the stock market with the $4% rule makes $80,000 a year with the net worth never going down. So a 2 million net worth plus a paid off home would be about what it would take for me to not work ever again.
I think you mean make sure you remain retired after you become retired. I've said before that my yearly burn rate is about $40k.
Benton: That sounds like a high burn rate.
Glad to see you back at home with the stuffed animals. What do you think about foregoing a $2k per month retirement plus 401K at age 57 to retire early at age 41?
Clarify? You mean use up the funds in your 401k to retire early? What will you do for funds when you do retire?
I'll be FI in January of next year, shortly before turning 23. Technically won't be retired for three more years, but I've been living a pseudo-retired life for the past 6 months. It really is nice.
Cool! Wow.. you are very young to do so. Nice!
How do you avoid drifting into a lazy funk?
You need to have purpose. You have to find your purpose.
Plan your day!
Those don't last long. Eventually you get bored and want to do something. Then you get up and do it. I rarely go a week "doing nothing" (ie playing video games and screwing around on the internet) aside from regular side hustles before I feel the need to do something else.
Great video. What a blessing.
=D Thanks!
Cool video! But is this lifestyle really that sustainable if you plan on getting married and having kids?
Depends how much more that will cost and how much passive income I can pile on before that happens. Depends on the girl too.
Inspiring!
=D
The fuzzy logic works for me !
I bet you're wondering how you did all your stuff and do a job ?
I'm 18 months in and i'm still wondering how.
I have yet to see the tombstone that reads “I wish I had worked longer”
It seems many of these budgeting videos say we need so much money to retire. Very few people age 5o and above do not have much money in retirement. What advice do you have for these people? This video is wonderful.
For these people. If living on fixed income, this video on cashflow will help: th-cam.com/video/H4nt1gNjxIU/w-d-xo.html
Hi. I am listening now. Thank you for all you do. I drive my friends mad because I do not like spending money on going out to eat.
My advise to u. Quit your job. Get more money in another company and continue quitting and gttting more jobs.
I started with a 30k job 3 years ago. And now in 2018 I'm on my 6th job and make 62k.
30 to 38k. 38k to 48k. 48k to 60k are some examples. I now make more than the median household income with is around 57k I believe. And I can save 2k everymonth
I see ppl crying cuz they don't get a raise or hve been in same compnay 10 years. I get 25% raises just by finding other jobs.
U can either waste ur time in a bad company or quit a job every 6 months until u make above 60k. Which less 60% of thr population makes
That's what works for me :)
DX, you sound like a brilliant person!!!! You must have many skills.
This is why I love working 12hrs shift. I work 3 or 4 days/week alternating, and get 3-4 days weekend in return. This puts me at 84hrs of work bi weekly vs the normal 80hrs, but I also save time from commuting and getting ready for work and all that. Lots of pros and cons.
Pros is as you state. Cons is ITS LONGER. You have to push through it depending on the type of work.
I think when you retire very early, lots of friends will either feel sorry for you thinking you made a mistake, how will you get by, or they will envy you and think how can you be so selfish. But in the end you have to do what is right for you.
It is perplexing how this is even possible. But it takes a lot of planning and executing. So you don't just end up in this situation without thinking.
Where do kids fit into the plan? or don't they?
Not sure, didn't think about it much as I don't have any.
Thanks for the reply. I have 2 kids and I can honestly say that they are the biggest drain on my/our resources than anything else (although I love them and wouldn't change it of course). I've watched many of these type of retirement videos and none of them seem to include kids. I guess this type of lifestyle is probably impossible if you have kids.
It appears that at least one of the consequences of early retirement is a growing community of stuffies to support...😄
Everything you've said in this video is something I've thought my self at one time or another. I really like how you think. It would take me at least ten years to get through my current personal to do/ wanna do list, so I also look forward to early retirement. Or rather, if I retired right now, I'd be so busy with my other stuff that I wouldn't even notice.
It's good to have a long list of things you want to do. Sounds like you are ready to retire in that sense outside of the money factor. One can always do a test run by taking a week off and pretend you are retired rather than travelling.
BeatTheBush Done that more than once. I still didn't have enough time to get everything done that I wanted to.
* Just noticed that Autocorrect tripped me up in my original comment... I meant "community of stuffies", not "studies", LOL. Fixed it now. Freakin Autocorrect. Sheesh.