How to Retire Early & Live Off Investments - Joe Blogs

[TexasTowelie]

In this video I discuss what you need to do to be in a position to retire early. Retirement Ages are rising all around the world and if you want to take control of your life and do what's best for you then you need to start planning now. The FIRE (Financial Independence Retire Early) Movement has been around for a while however the ideology is a little extreme for most people so in this video I discuss how you can plan for a comfortable retirement.

Chapters:
0:00 Intro
4:34 HOW MUCH
6:02 DEBT
8:01 EXPENSES
11:38 SAVINGS
13:44 INVESTING
15:51 SUMMARY & CONCLUSION

[3Hotdogs]

1. Two interesting points. How much of your discretionary spending is used because you are bored? You can't think of

anything else to do? Too much of mine, is.

What are you hoping to get out of the item or experience you are spending money on? Is the new baseball cap with MAGA on it, really gonna get me laid? How about the new Nike's?

[3Hotdogs]

2. My retirement was well planned. It was based on SS and a pension paid by the state pension fund. What could go wrong?

What went wrong was Chris Christie pulling the plug on Cost of Living increases to the fund.

While I am not starving and still living within my means, I should have had $7k more in my annual pension check.

[PoindexterOglethorpe]

4. I worked ten years for a company that,

shortly before I was going to start taking my pension, declared bankruptcy (for the second or third time) and was able to reduce everyone's pensions to about 25% of what they should be. I was lucky in that I never assumed mine would be very much, because I only worked ten years there. It's the long term employees who were screwed.

[3Hotdogs]

5. Mine: It was a contract from the state. If anything goes wrong, they can raise taxes to fund the discrepancy.

It did. And they didn't.


What pisses me the most, teacher contributions to the pension fund were mandatory. If I had the money instead of them, I could have bought shares into S & P 500. I would have been better off.

[multigraincracker]

3. Great advice. I retired a little over 22 years ago at age 52.

Paid off my last car payment in 1982. In my 3rd house I've paid cash for. I have hobbies that pay for themselves. Have a pension and SS. My dividends pay all of my monthly bills.
Getting out of debt and staying out are the key.