I'll be retiring in 3 years, almost to the day, as that's when my final stock/etc vests. The new Airstream and truck to tow it shows up within the month, and the house is paid for. And betting it all on crypto is nuts... everyone knows GME is where it's at.
To be clear, it's pretty well retire at 55 for me, so not sure how "early" that is to you. To be sure, it's earlier than I was expecting.
There's a huge sell off out of tech stocks right now due to an expectation of higher interest rates. Weeeee.
We're finding the hard part is the tradeoff between retiring early vs working longer and having a lot more money. We technically could retire now if we sold our house, moved somewhere cheaper and kept a fairly tight budget. But, if we grind out another 5-6 years and the market doesn't implode, then we'll be able to retire and have a much larger nest egg and actually enjoy retirement vs just the joy of not having to work.
Yeah I feel this comment, right now my pension will kick in at 67, if I live that long. If not my daughter will be able to enjoy the monthly payments and health insurance for the rest of her life. I look at it more about setting her up nicely and having something for my wife to retire on, if I make it that far then bonus for me.
This is kind of insane... Gamestop is supposed to start getting their vote counts in today in prep for their shareholder's meeting. This was on their official Twitter account today. It looks like GameStop is going to the moon, and they may actually be in a position to know that based on the voting numbers they have. You really have to wonder if the SEC will have anything to say... I wonder if they'll consider this a form of manipulation, in that they're reinforcing the notion of buying their stock. https://twitter.com/GameStop/status/1392177739193622532?ref_src=twsrc^google|twcamp^serp|twgr^tweet
@Nettdata I'm currently doing some of my calculations for retiring at 50, so it's not that much earlier than what you're looking at. But still 17 years ahead of "full retirement age" for social security purposes. @GTE yep, I agree. That's what I'm trying to run numbers on now. I don't want to retire early only to be unable to travel or have to count every penny. But one thing I'm definitely considering is that "retire early" doesn't necessarily mean zero income. I could take project-based IT work, or something part time/low stress to supplement. I definitely feel lucky to be considering it. My girlfriend and I have always been thoughtful with our money, and over the last 7-10 years we've really focused down to spending on what's important and foregoing what doesn't add a lot of happiness to our lives. That has really shown up in our savings rate.
My approach 10 years ago was to build up a hobby (woodworking) to the point that I could transition to it for some cash if wanted/needed. The stuff we do (IT, software dev, etc) is fucking hard work, and mentally taxing, and I've seen a lot of people slowly degrade into not being able to do it. Some of them slide into management, and slowly fail at that, and others just quit outright and learn to weld, etc. Regardless, I'm fully aware that I'm not going to be as good (or marketable) at what I do forever, so woodworking was in my future. I enjoyed it, and people seem willing to pay for a lot of it. Custom tables, whatever. That was the plan before my company got acquired, so now it's looking like it's more for fun.
Change out "girlfriend" with "wife" and that's exactly what we did. Down to the same age goal and all. Kind of weird talking finances with internet "strangers" but a decent portion of our initial retirement income is going to be the commercial real estate that will be paid off by then. The goal is to live off that, her side gig and maybe I get an easy going part time job and just let compound interest do it's thing. Then, we'll retire full time and I'll buy myself a ridiculous car that is made with lots of carbon fiber bits and makes sexy noises.
Wow. So my wife and I are really into “FBI” on CBS. It’s the only show we watch together, that and the spin-off. they just did their latest episode around a fictionalized version of the Robinhood/GME saga, with the robinhood ceo getting assassinated outside an sec hearing
If you don't want to share details, it's fine, but just curious - what percentage of your retirement income is going to come from real estate (vs. stocks/social security), and what percentage of your current income are you looking to replace after you retire?
The current income percentage is tough because they say you should expect to spend ~85% of your current income but I feel that's misleading as we're stuffing so much into retirement and to paying the house and property off. We can live comfortably on way less than we make. I estimate actually percentage will be close to 40% of current income. As far as rental income, it'll be about 60% of our income while the wife continues her side gig and the nest egg continues to grow. Might be a little high for traditional rental income but the property has been continuously rented out for over 60 years by the same company so we feel it's a safe bet.
Sold my random penny stocks, which were all red, like every penny stock right now. Got another half share of GME and gonna use the rest to average down with GTII, then sell once I can break even and flip into GME. After that, I wait.
I just realized that The Citadel is what blows up in that game. And Citadel is the main hedge fund. GameStop twitter is on FIRE.
I don't know exactly what's up with Citadel right now, but watching level 2 on AABB no one will sell to them. I have a feeling they're in a world of hurt somewhere along the line.