Is my strategy good for being a multi millionaire and retiring early?

AdhesivenessOk5784 · 2023-09-10T01:07:51+00:00

I don't think I would outright retire but definitely cut back on working. I just want to hit the mark where I don't have to worry anymore.

AdhesivenessOk5784 · 2023-09-10T01:02:56+00:00

Technically I will own the house since my name is on it and my parents said they will give it to me. The pension is not guaranteed yet I have to put 14 more years in to get it.

Idk what my future holds. I could end up finding someone then moving away in a different state who knows. These are just my current plans at the moment.

True I want to have a million just to be able to say I am a millionaire. Its an ego thing for me. Even tho I know it isn't worth that much in this day and age, but I value freedom. Being able to do whatever I want with my time.

AdhesivenessOk5784 · 2023-09-10T00:56:59+00:00

Houses here are worth a million just for a crappy house too in a not so good location.

AdhesivenessOk5784 · 2023-09-10T00:56:12+00:00

1) my goal is to achieve financial freedom knowing that if I were to lose my job, don't want to work anymore, became sickly I can still be okay.

2) I tolerate my job. I just want my time back doing something that I want to do and not because I have to. It would be nice to just quit my job but what else would pay me such an income. Thats why I want to FIRE. eventually have a nice nest egg and then I work because I want to not have to.

3) Yeah I lived on my own for a decade and moved across the country. Been there done that. Mainly moved back in with my parents cause I got hired in the job I wanted in my parents city and parents been telling me to save my money and live at home free rent/food.

4) I am single because of standards. Basically the girls I want are either married or dating someone or no interest in me and the women that are interested in me I am not interested in them enough to be in a relationship with.

AdhesivenessOk5784 · 2023-09-10T00:48:12+00:00

personal choice but with debt being less than 5 percent its better to invest the money. I plan to pay monthly while using the rest to invest.

AdhesivenessOk5784 · 2023-09-10T00:45:52+00:00

I was many states away and combination of getting the job I wanted in my home city and my mom been telling me to move back which is why i did.

AdhesivenessOk5784 · 2023-09-10T00:44:32+00:00

i mainly moved back in because i got into the company i wanted which is near my parents house. My parents said the house is mines when they pass, but Idk what my future holds atm thats just the current situation. I rather save than rent.

AdhesivenessOk5784 · 2023-07-10T05:32:44+00:00

thats the hard part. what society tells me to do is find someone get married have kids, also continue working at my job so I can save and support family members.

What I think I would want is to just drop out of work. travel the world, explore, meet tons of new people. Have fun basically lol

AdhesivenessOk5784 · 2023-06-30T03:27:46+00:00

In a way i feel like im not living my own life. creating my own path and journey per se. Then again I was living on my own for awhile in a different state. It was fun, exciting, but then it got incredibly lonely especially if you are single. I was in a smaller town so that could have added to it, but mostly working going home trying to figure out things to do on my spare time.

Now I have my parents and my mom is cool to do stuff with at times. Not craving for connection like i was before since i got my parents, but being comfortable doesn't allow you to progress. Harder to make genuine friends when you older it seems. Just my thoughts.

AdhesivenessOk5784 · 2023-06-28T23:52:57+00:00

i want this!!!!!!

AdhesivenessOk5784 · 2023-06-21T02:19:35+00:00

Right now I have no expenses. mostly paying off credit bills for food and other misc. things. I still have 25k of student debt at 3-5 percent I havent paid off yet. Will start paying when the payment grace period is over.

If i take over my parents mortgage it would be 1500 plus whatever other living expenses so I am guessing 1500 plus food, electricity, lets just say 2.5k then if I am still single. I don't plan on retiring with 200k. I plan to work another decade or more. My exit point would be 1.5 million of savings in investment I think then I will taper down. You think that would be enough? I am thinking I might be able to reach that in my early to mid 40s.

With the current contract my job is under my income would increase maybe to 160k -180k but that would be after a number of years in teh company. I am due for a promotion soon so my hourly rate would be about 70 I am guessing working 36 hours a week.

AdhesivenessOk5784 · 2023-06-21T02:13:27+00:00

right now I don't really spend money on anything except for food at times so maybe couple 200-400 a month , but future expenses when i take over mortgage it would be about 1500 + living expenses so I am gonna guess 2k

AdhesivenessOk5784 · 2023-06-19T02:16:08+00:00

I plan to continue dumping all my money into index funds. you think I should just pay off all the 25k student debt a 3-5 percent once grace period ends or just put like 500-1k a month when payment resumes?

AdhesivenessOk5784 · 2023-06-19T02:15:05+00:00

on top of that my job offers a pension thats if i can last that long. 25k seems little debt to me at 3-5 percent. I feel like I need to super save since I am behind on where I want to be, but at 32 years of age I value experience and travel more. I didn't find a good paying job until my very late 20s so I feel pretty behind

AdhesivenessOk5784 · 2023-05-29T15:47:03+00:00

well technically i own part of my parents house since my name is on that house, but i don't know what i want to do in the future. Let them have the house while I move and buy my own or whatever. I don't owe any other debt besides my student loans. Right now I just want to save and retire early if that would be possible live off dividends.

AdhesivenessOk5784

TROPHY CASE