Early Retirement/Investing

[bang bang]

Hey guys,

 

Just to throw it out there, has anyone heard of the, what some might call, movement of young people pushing for early retirement through minimal spending and maximal investing?

 

This is something my wife and I are starting to do and it's absolutely mind-blowing that we never knew this stuff before and how pivital it can be in someone's life.

 

This is the blog I follow, btw: https://www.mrmoneymustache.com/2013/02/22/getting-rich-from-zero-to-hero-in-one-blog-post/

[Vindstot]

A related idea (rather the opposite of that) I heard. People would work 3 days a week, the price is: work 11 hours per day and retire at age of 75 or so. With about same pay

You would have much more freetime in your life, but if you need money, you can still take 2 jobs.

The life expectancy is higher and higher, so raising retirement age with it might be a logical consequence

This idea is rather for the white collar workers. Doing office work at age of 70 is still viable.

 

Read more about it at : https://money.cnn.com/2014/10/08/investing/carlos-slim-3-day-work-week-will-happen/index.html

(or use Google)

[CheepHeep]

Who would want to be working at 70?  Also, which employer would give a job to a 70 year old person instead of a younger person who is physically and mentally more fit?

[Vindstot]

3 minutes ago, CheepHeep said:

Who would want to be working at 70?

My grandfather worked many years after he was forced to retire (dont ask if that was legal or not). They simply needed the money, and he could still work

 

4 minutes ago, CheepHeep said:

which employer would give a job to a 70 year old person instead of a younger person who is physically and mentally more fit?

There are 70 year old people in great condition. A person who has worked more is more experienced, probably knows more stuff related to the job, could train entrants, more mature; and if you employ a 70 year old, he/she will probably be loyal and not switch job compared to a young, ambitious person who wants to build carrier and have family later

[bang bang]

11 hours ago, Vindstot said:

A related idea (rather the opposite of that) I heard. People would work 3 days a week, the price is: work 11 hours per day and retire at age of 75 or so. With about same pay

You would have much more freetime in your life, but if you need money, you can still take 2 jobs.

The life expectancy is higher and higher, so raising retirement age with it might be a logical consequence

This idea is rather for the white collar workers. Doing office work at age of 70 is still viable.

 

Read more about it at : https://money.cnn.com/2014/10/08/investing/carlos-slim-3-day-work-week-will-happen/index.html

(or use Google)

How interesting! I have not seen this, but I do like the idea of catering your "work" around your life and passions as opposed to the other way around.

 

Me personally, I think I would rather just gain financial independence all together and then do as I please. Theoretical at this point for us, but still viable if our math is right.