How to Retire Early (>17yrs) , and not be cucked by a boss

[BeautifulBones]

This thread was inspired by @future chadlite

I might make a special thread about industries you can get into to make this feasible at any IQ , but i briefly mention this in this thread

https://looksmax.org/threads/dont-rot-tonight.5551/

However the mathematics for retiring early is actually pretty simple

sourced from Mrmoneymustache.com

However to save more than 50% of your income you either need to make a lot of money, or save like a mad person. The latter is not reccomded because you have to maintain this diminished standard of living into retirement. So what's a number I think is a comfortable amount for most people to retire on and live on while working. This is based on NYC

~ 40-50k post-tax
>This allows 24k/yr for rent and 16k for other expenses like food, clothes, insurance and others.


So you'd need to make 80-100k total

How much is this pre-tax

This may seem unfeasible to many, but I know plumbers that work for other people that make this much. I also know many small business owners that make north of 200k.

Also never forget I went from bagging groceries to charging $60/hr for my software, and nowadays I charge between $180-$300/hr depending on the complexity of the work. I'm not saying it's easy , but it's feasible

 

[future chadlite]

5-8 Years after I graduate Comp Sci I'll basically retire
definition of retirement for me is going back to morocco and opening several businesses and chilling.

 

[CupOfCoffee]

What about investing? I'm thinking of making a system where I allocate a certain % of my earnings to high dividend blue chip equities and do a reinvestment program so it can compound. After 5-7 years consistently this can actually generate decent passive income.

 

[VST]

This thread was inspired by @future chadlite

View attachment 9653

I might make a special thread about industries you can get into to make this feasible at any IQ , but i briefly mention this in this thread

https://looksmax.org/threads/dont-rot-tonight.5551/

However the mathematics for retiring early is actually pretty simple

sourced from Mrmoneymustache.com

View attachment 9652

However to save more than 50% of your income you either need to make a lot of money, or save like a mad person. The latter is not reccomded because you have to maintain this diminished standard of living into retirement. So what's a number I think is a comfortable amount for most people to retire on and live on while working. This is based on NYC

~ 40-50k post-tax
>This allows 24k/yr for rent and 16k for other expenses like food, clothes, insurance and others.


So you'd need to make 80-100k total

How much is this pre-tax

View attachment 9654

This may seem unfeasible to many, but I know plumbers that work for other people that make this much. I also know many small business owners that make north of 200k.

Also never forget I went from bagging groceries to charging $60/hr for my software, and nowadays I charge between $180-$300/hr depending on the complexity of the work. I'm not saying it's easy , but it's feasible

Lmao, yeah goy, just save money and wait for inflation to fuck you over, nice one.

Still waiting for the proof of any of your claims including your 120k+/annum (based on full-time hours) software.

It's cringy how you don't realise most people with half a functioning brain can see through this shit.

What about investing? I'm thinking of making a system where I allocate a certain % of my earnings to high dividend blue chip equities and do a reinvestment program so it can compound. After 5-7 years consistently this can actually generate decent passive income.

Investing and owning property is the only fast track route to retirement, other than just getting rich through business acumen or plain luck.

 

[Phad]

Your plan works but isn’t gonna make you happy, what’s the point of saving, your literally letting your money rot.

In my opinion it’s best to have a harmony. Yea sure it’s good to have a retirement planned but you also wanna live life. Invest some money, save money, spend money.

spa: If your getting paid by the hour you arnt living life because your worth is based of your knowledge not a punchcard.

 

[Deleted member 283]

W

5-8 Years after I graduate Comp Sci I'll basically retire
definition of retirement for me is going back to morocco and opening several businesses and chilling.

what u gonna do? Sell couscous?

 

[BeautifulBones]

What about investing? I'm thinking of making a system where I allocate a certain % of my earnings to high dividend blue chip equities and do a reinvestment program so it can compound. After 5-7 years consistently this can actually generate decent passive income.

This takes into account a 5% return on investment , but you can play with the numbers here

https://networthify.com/calculator/...0&expenses=25200&annualPct=5&withdrawalRate=4

Your plan works but isn’t gonna make you happy, what’s the point of saving, your literally letting your money rot.

In my opinion it’s best to have a harmony. Yea sure it’s good to have a retirement planned but you also wanna live life. Invest some money, save money, spend money.

spa: If your getting paid by the hour you arnt living life because your worth is based of your knowledge not a punchcard.

Most people are paid by the hour, including myself well by the minute . Setting up passive income actually takes the most knowledge. The goal is to be paid enough by the hour , so your not miserable

Lmao, yeah goy, just save money and wait for inflation to fuck you over, nice one.

Still waiting for the proof of any of your claims including your 120k+/annum (based on full-time hours) software.

It's cringy how you don't realise most people with half a functioning brain can see through this shit.

Investing and owning property is the only fast track route to retirement, other than just getting rich through business acumen or plain luck.

You have to invest for this to work this assumes a 5% modest return on investment.
See the link above

Also I work 10-25 hours a week depending how much contract work I get, and charge $100(Web Dev) - $300(AI) per hour , so you can do the math on that

 

[CupOfCoffee]

W what u gonna do? Sell couscous?

LMFAO bro

This takes into account a 5% return on investment , but you can play with the numbers here

https://networthify.com/calculator/...0&expenses=25200&annualPct=5&withdrawalRate=4



Most people are paid by the hour, including myself well by the minute . Setting up passive income actually takes the most knowledge. The goal is to be paid enough by the hour , so your not miserable


You have to invest for this to work this assumes a 5% modest return on investment.

Also I work 10-25 hours a week depending how much contract work I get, and charge $100(Web Dev) - $300(AI) per hour , so you can do the math on that

Tbh 5% is a bad return considering you can just hold a market index fund and over time it will translate to about 7% annual, assuming you don't buy in just before bubble like now. 10-12% is doable if you know your shit.

 

[BeautifulBones]

LMFAO bro

Tbh 5% is a bad return considering you can just hold a market index fund and over time it will translate to about 7% annual, assuming you don't buy in just before bubble like now. 10-12% is doable if you know your shit.

Yea but it's better to expect a lower return on investment for retirement just in case, and remember you have to subtract 2-3% off your CAGR to account for inflation, but if you could get a 9% CAGR over the life of your investments. You could retire about 25-30% quicker than with a 5%

 

[CupOfCoffee]

Yea but it's better to expect a lower return on investment for retirement just in case, and remember you have to subtract 2-3% off your CAGR to account for inflation, but if you could get a 9% CAGR over the life of your investments. You could retire about 25-30% quicker than with a 5%

Yeah of course. It's good to take 5% as a baseline for your plan so you don't and up disappointed. Still, tables like that show what's possible if you start consistently from now, most dudes on here could be financially secure in 10 years and rich in 15 if they work, save, invest properly.

 

[BeautifulBones]

Yeah of course. It's good to take 5% as a baseline for your plan so you don't and up disappointed. Still, tables like that show what's possible if you start consistently from now, most dudes on here could be financially secure in 10 years and rich in 15 if they work, save, invest properly.

I'm just trying to give out hope
and deter people from the rope