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  #1  
Old 01-28-2017, 05:33 PM
faux faux is offline
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Default A quick video about how to retire early

So I'm pretty big into investing and passive income so I created a spreedsheet for me to use and this is a video on what the spreedsheet does and gives you a look at what we all could have done to retire before 40.


https://www.youtube.com/embed/6HImgGBm5LU
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  #2  
Old 01-28-2017, 05:39 PM
Ordinary Biker Ordinary Biker is offline
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Default Re: A quick video about how to retire early

ok
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  #3  
Old 01-28-2017, 06:14 PM
whiskeymike whiskeymike is offline
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Default Re: A quick video about how to retire early

I'm just going to work until I die.
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  #4  
Old 01-28-2017, 06:36 PM
camodown camodown is offline
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So that is to retire at 40 but it only gives you less than 80k a year pre capital gains taxes for 10 years. What happens if you live past 50?

Save as much and possible and invest wisely but much more money would be needed to retire at 40 but I get the point of the spreadsheet. Gives examples of what is possible if young people will start saving early, which most don't.
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  #5  
Old 01-28-2017, 07:10 PM
faux faux is offline
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Default Re: A quick video about how to retire early

The amount that you make per month at the bottom of the sheet is what you make off the interest, as long as you dont use more than that then you will continue to make that amount. Thats why its called passive income and not a savings, savings would be gone at the end.
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  #6  
Old 01-28-2017, 07:48 PM
camodown camodown is offline
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Quote:
Originally Posted by faux View Post
The amount that you make per month at the bottom of the sheet is what you make off the interest, as long as you dont use more than that then you will continue to make that amount. Thats why its called passive income and not a savings, savings would be gone at the end.
Not quite. You are now depending on short term gains without adding any new money and you will not make 8-10% per year every year in the stock market. What happens when it is down a year then stabilizes the next year and takes a 3rd year to get back to where you were. Now you have burned thru money over 3 years with no gains.

You also have to deal with 10% penalty on top of taxes on ever penny you take out until you are 59 1/2.
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Old 01-28-2017, 08:01 PM
faux faux is offline
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Default Re: A quick video about how to retire early

That can be solved by earning 20% more that what you need to survive on to account of down months. The stock market is a larger risk that private notes as an income.
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  #8  
Old 01-28-2017, 08:59 PM
camodown camodown is offline
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Quote:
Originally Posted by faux View Post
That can be solved by earning 20% more that what you need to survive on to account of down months. The stock market is a larger risk that private notes as an income.
Easier said than done. Most people can't stash away 20% of their income, but that just correlates to what I have said. You need more money than that to retire that early. Especially since if you retire that early you will want to do things, hobbies, take trips, help your kids with college, insurance, medical bills as you get older, etc etc.

So your spending will probably go up compared to when you were working because you are going to be out and about not sitting at home eating ramen noodles all day.
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  #9  
Old 01-28-2017, 09:02 PM
faux faux is offline
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Default Re: A quick video about how to retire early

Its all about your lifestyle and the things you want to do. I wish I would have known more about investing when I was younger, before I became all grown up....I could have thrown a lot of money towards investing
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  #10  
Old 01-28-2017, 09:07 PM
camodown camodown is offline
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Quote:
Originally Posted by faux View Post
Its all about your lifestyle and the things you want to do. I wish I would have known more about investing when I was younger, before I became all grown up....I could have thrown a lot of money towards investing
I hear you. I always said when the market crashed in 08 I should get in. I didn't start investing in the market until 11.
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  #11  
Old 01-28-2017, 09:53 PM
Ordinary Biker Ordinary Biker is offline
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Default Re: A quick video about how to retire early

Quote:
Originally Posted by faux View Post
Its all about your lifestyle and the things you want to do.
Figures range from just over 50% to almost 75% of Americans are living paycheck to paycheck. Makes it tough when you say 'all you have to do is earn 20% more than you need to live'.

The average American has zero concept of delayed gratification in any form. The newest shiniest toy has to be purchased. Money has to be spent. I am glad that this works for you, and thanks for sharing, but not many will follow.
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'07, 4X4, 4.0l, 5spd, super cab fleet side
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'81 Yamaha XS850 custom bobber
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They who can give up essential liberty to obtain a little temporary safety, deserve neither liberty nor safety. - Ben Franklin
The best government is a benevolent tyranny tempered by an occasional assassination. - Voltaire
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  #12  
Old 01-28-2017, 11:51 PM
jheitt jheitt is offline
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Default Re: A quick video about how to retire early

Quote:
Originally Posted by Ordinary Biker View Post
Figures range from just over 50% to almost 75% of Americans are living paycheck to paycheck. Makes it tough when you say 'all you have to do is earn 20% more than you need to live'.

I am glad that this works for you, and thanks for sharing, but not many will follow.
Most people blow well over 20% on random crap, they could easily save it instead. Hell I bet 25% of that 50-75% spend that 20% in the first weekend after payday on booze, then complain about how they don't have enough money to save for retirement.

Like you said, the need for instant gratification makes people think they can't do it because they have to buy whatever at the time. No one thinks ahead.


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  #13  
Old 01-29-2017, 06:44 AM
whiskeymike whiskeymike is offline
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Default Re: A quick video about how to retire early

Honestly, I would rather spend money on my hobbies (I usually make money from them anyway) than pinch pennies the rest of my life and sit at home doing nothing. I do invest in retirement, but I won't be retiring until I'm about 70.

But I actually like to work, so it's probably different.

Also, I agree 100% with camodown. The spreadsheet is nice "tool" but it is optimistic. Especially since the world market is a bit combustible.
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  #14  
Old 01-31-2017, 10:11 AM
cowboybilly9mile cowboybilly9mile is offline
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Default Re: A quick video about how to retire early

Quote:
Originally Posted by faux View Post
That can be solved by earning 20% more that what you need to survive on to account of down months. The stock market is a larger risk that private notes as an income.
I didn't look at your spreadsheet (thanks, but I have my own) but all I've noticed in the thread are expectations of sunny days, which aren't always the case. With that in mind and in the name of expanding investment opportunities, if you don't know what a short sale on stock is you might want to brush up on this (could come in handy pretty soon). Also, nowhere has there been consideration of how far you'd let an investment go down before you take action (something that should always be done at the time it's purchased). Action being, reevaluate, pull back, bail, buy more, etc etc. The other thought missing so far is that, IMO, you should be able to explain to an eighth grader in under 60 seconds and with words they can understand, why you own something. And the correct choice of words isn't, "because it is going to make money", that's expected without being spoken. Carry on, I"m listening.
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  #15  
Old 03-06-2017, 08:37 PM
Angel Brown Angel Brown is offline
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Default Re: A quick video about how to retire early

As far as concerned,i am going to do something i like after retirment.Such as help little
child and old people needing help.Life is wonderful,even though retired,we could reach our
value.
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