Amazing! Couple retired at age 38.....

  1. I've came across this website thru Kiplinger's Personal Finance and thought you would like to read it. The couple retired at the age of 38 and had over $500K in savings. They invested in low-cost index funds and lived off of $24K (after taxes) a year by traveling all over Asia, Caribbean, Mexico, and South America. Currently (after 15 years), they are still doing what they love. After reading this article, I was so fascinated by their strategies and would love to do nothing but travel. Life is so short and we should enjoy it. Unfortunately, I have 2 toddlers to put thru college before I start this adventure:crybaby:.

    Here's the article:
    http://www.retireearlylifestyle.com/kiplinger_article.htm

    Here's their homepage:
    http://www.retireearlylifestyle.com/
     
  2. Good for them, too right life is too short so should do what makes you happy!
    We all get far too bogged down with material things.
     
  3. Very nice! I suppose almost anyone could do this. The cost of living is different everywhere, seems that's how they've been able to work this a bit.
     
  4. WOW, makes me wanna go check on my IRA....
     
  5. WOW that is so tempting!! if you start saving from 28 - 38 for simple math, you'd have to save $50K a year after taxes. might be more doable between 2 ppl but not 1 person

    and at the rate health care costs are rising through the roof, if something major happens , you'd probably be left penniless. very scary for me.
     
  6. Wow. Excellent articles!
     
  7. id be way too bored if i didnt work. i love working even though that sounds crazy, it gives me a purpose in life to have a career.
     
  8. $500,000 doesn't seem like a lot of money, especially when you take inflation into consideration. I would travel, travel, travel if I had at least 5 million saved up.

    I'm glad they are enjoying their lives! Life is more fulfilling if its spent experiencing the world and learning from different cultures. What is the point of living on a vast and remarkable planet if all you do is work, work, work?
     
  9. I wish!!!! :girlsigh:
     
  10. 500k does not allow for any emergencies or unforseen circumstances that may come later in life. it is not a reasonable amount to retire on. but, if they can do it..and they are happy, that is what matters.

    i guess it depends on where you plan to retire, that isn't enough to live in the US.
     
  11. From what I read, the couple does purchase health insurance. When they mentioned $500K, that was back in 1991. So if we're talking about inflation, it means that we need at least $$750K in today's money.

    I know that's not enough to live on in the US, but for example in Vietnam, the average wage is around $100 a month.

    My grandparents have around $600K and they live pretty comfortable in the US with the extra income of Social Security and Pension. They watch very closely on what they spend (which I can't control:rolleyes:).

    For me, I think I can live comfortable with around $3 million dollars for long-term income (that covers kids stuff and high cost of living expense in the US). I guess it's nice to dream about this and wish we can be financially independent to enjoy our life. I think we can survive with $500K, but I wouldn't give up America for that lifestyle.
     
  12. Wow good for them! Their priorities are very different than a lot of other peoples' (i.e. having nice houses, purses, cars, etc.), but clearly it works for them & that's awesome. Also, I gather they are still making some sort of income through their book, website, interviews, etc.


    Life's short, gotta do what makes you happy!
     
  13. i totally know what you mean. and i fel that way too. it's just that if you have enough $$ saved up, you can just work and enjoy and be less stressed that you can't pay your rent etc etc.

    But sometimes i wonder how sad it is that my job/career is so important. i'm not an insecure person but i *feel* like one is suppose to want to quit and enjoy life asap! :confused1:


     
  14. Id probably get bored quickly.
     
  15. OMG I have 13 years I wonder what I can sock away between now and then