$100/day for 4.5 years

Solo_and_Simple · 2020-09-17T22:59:08+00:00

Good luck, man. Four and a half years isn't that long. I reached FI a few years back, so I'll share a bit about my experience.

Keeping expenses low was key for me. I never let my lifestyle rise when I got raises, I always stayed at a pretty modest level. That helped the FI equations a lot. I also avoided marriage and women. That helped, too, lol.

I always enjoyed my career, at least a little, so I continued to work beyond the point of FI. That helped me get a little more cushion. I quit when I no longer enjoyed the work.

I kept a count of the weeks left on my fridge. It was nice to be able to erase it and write a new number each Friday.

I gave plenty of thought to what sort of life I wanted for myself, when I was free of the burden of work. I read a bunch of books on retirement. They are helpful in reminding you of things to consider. Ernie Zelenski's "How to Retire Happy Wild and Free" is a fun read.

I'm still experimenting, learning as I go along. It's pretty cool. I kind of like what one author called it, a "second adolescence" -- a chance to experiment with exploring your interests and reshaping your identity. You don't have to worry about living up to anyone's expectations but your own.

victor_knight · 2020-09-18T02:30:24+00:00

Good luck, but I'm not so sure that's going to be enough. Just pray you don't run into any serious legal or medical issues the rest of your life. Good representation or care can empty your bank accounts faster than a wife. We haven't even begun to talk about a decent nursing home. Those cost around $4,000 a month (not including medication) today and in 30 years it's probably going to be $15,000 a month. If your mind isn't working right, you're also going to have to pay a lawyer for power of attorney (to make decisions on your behalf). The lesson is, make as much money as you can (assuming you don't plan to jump off a building or blow your brains out, that is).

LGdollarsign · 2020-09-18T02:38:19+00:00

I lived off playing poker for a little over a year with this same mindset. It's possible but u gotta be disciplined and selfish.

Impossible-asset · 2020-09-18T02:15:09+00:00

$3k a month? Doable. I aim for that soon. But first I'm paying off this mortgage.

Got a 30 year loan, I want it paid in 4. Then with a paid off home, the money shovel into savings and dividends starts.

hrm0894 · 2020-09-18T03:35:24+00:00

How old are you? Is 164k really enough for financial independence? Asking because I want to make just enough to retire, but I was thinking 600k would be good to last me a lifetime. I'm a minimalist, too, so I'm really curious if I even need that much.

daniellederek · 2020-09-17T23:04:20+00:00

I think I'm averaging about $25/ day profits on side hustle this year. I was afraid it was going to be way lower with how things locked down in Canada.

It's always nice to be in a position to say yes to a good deal. No crunching numbers, no consulting a wife, just yes dude, I'll be there with a truck at 530 today/ put it on the truck and invoice me .

FaAlt · 2020-09-18T03:13:39+00:00

Why 4.5 years though? What happens after that?

I could last that long now that I think of it. I'm hovering around half a mil net worth at 35, but I don't consider myself financially independent because eventually I would have to go back to work, and it would be hard to find a good job if I quit my career and did nothing for 4+ years.

simplisticallysimple · 2020-09-18T02:57:24+00:00

What's your plan to achieve that?

XbabyjeezusX · 2020-09-18T02:58:49+00:00

I feel for you man but, I must ask...what have we learned?

IanMacHiver · 2020-09-18T06:19:46+00:00

r/financialindependence and r/leanFIRE

Edit: leanfire

SynthWeaver · 2020-09-18T06:20:58+00:00

I only need 5 euro a day for food and 5 for my boat. It is possible if you lower your standards :)

cz_masterrace · 2020-09-18T09:09:12+00:00

Divorced at 35, I'm 40...will be able to retire at 48. Like another poster said - the key is to live like your poor and find hobbies that are free or cheap and you can easily build wealth without a wife or kids. I also put any raises I got towards retirement. So if I got a 3% raise I put in an extra 3% into retirement each paycheck...never missed it.

Gaiinahat · 2020-09-18T02:43:02+00:00

Awesome plan. That's like three hundred and sixty five hundred dollars per year. 👍

onbakeplatinum · 2020-09-18T04:42:35+00:00

Just did the math and I make $110 a day

Powerful_Pudding3403 · 2020-09-18T05:33:58+00:00

That aint a lot of money after inflation or if something bad happens and you need insurance for (and dont have), a catastrophic repair (as in needing to pay it at time of service or you dont get your heat turned back on or dont get your car back) or whatever. Even replacing thins you need that get worn out or broken. Expenses go up, too. You MIGHT be able to manage VERY WELL in a country like Ecuador; most of their population exists on $350-$400 a month (albeit poor). Home in a gated community are $80k-$100k (double home in 2 floors, you can rent out one for income). Just gotta speak Spanish. Can also teach English to rich kids for $50 a day or more as tutoring.

I would build a much larger nest egg than whatever you think you'll need.

Beans and rice will free up a LOT debt or keep you under a budget...but everyone has a breaking point. I flip out after weeks of cheap yet healthy home prepped meals, and then eat at restaurants despite knowing it's burning money. I have cut my expenses as much as possible, can still get down $400 a month more but I keep finding shit to do with my money, like the stock market. I had good gains initially and now I'm addicted. It seems all I am doing is budgeting so I can throw it in the market

the-lone-squid · 2020-09-18T09:21:29+00:00

Sounds like allot. I figure i could sqeak by on 1000/ month. So i guess i could leanfire now

thefudmaster · 2020-09-18T11:37:19+00:00

OP, absolutely do not offer this as an alimony settlement. I was married for over ten years and my ex wanted over $2,000 per month in alimony. This was in addition to substantial child support I was already paying.

They wanted that alimony amount for over half the marriage (7 year alimony term). My attorney said the amount was far too high. I also told him I’d be living out of my car paying that amount.

We rejected the alimony portion as well as other outrageous demands in regard to cash settlement and property division. We came in with a reasonable settlement offer.

When we litigated alimony at trial, the trial judge heard about five minutes of testimony from me and my attorney (I was the Plaintiff/moving party goes first). Trial judge looks at opposing counsel and states $2000 per month in alimony is absurd. The judge then awards alimony for three years at $500 per month.

The rest of the trial went that way when the judge saw they were completely unreasonable and we wrapped up in less than an hour. Best $350 per hour I’ve ever paid for an attorney.

Alimony, if you’re in the US, is no longer tax deductible to the payor/obligor. Judges have to consider this as alimony awarded before 1 Jan 2019 is tax deductible.

Do not quit or concede if the amount is unreasonable. Depending on how long you were married, you may not owe alimony of any kind. If your lawyer is afraid of a trial, you have a shitty lawyer who cannot litigate. Also, refuse to sign an agreement unless your alimony provision states that it is “non-modifiable and cannot be altered/readjusted by any court”.

MGTOWManofMystery · 2020-09-18T14:18:25+00:00

Consider moving to parts of the world that aren't so bad and have MUCH lower costs of living!

yvngmysterious13 · 2020-09-19T21:07:33+00:00

How will you make 100 a day?

Title	$100/day for 4.5 years
Author	existential_pain0528
Upvotes	1
Comments	57
Date	September 17, 2020 10:25 PM UTC (5 years ago)
Subreddit	Posted in /r/MGTOW2
Original Link	https://old.reddit.com/r/MGTOW2/comments/iutusu/100day_for_45_years/
Archive Link	https://theredarchive.com/r/MGTOW2/100day-for-45-years.805414 https://theredarchive.com/post/805414

Comments