4 ms·

This is too hard. I plan on doing something similar except instead of work 4 months every year and take the rest of the year off, I plan on working about 7 mor

This is too hard. I plan on doing something similar except instead of work 4 months every year and take the rest of the year off, I plan on working about 7 more years and never working a day again.

davty 13y ago
Do you mind sharing anymore details of your plan?
- aaren 13y ago
  Probably something like this: http://www.mrmoneymustache.com/2013/02/22/getting-rich-from-zero-to-hero-in-one-blog-post/ http://www.mrmoneymustache.com/2013/02/22/getting-rich-from-... The basic idea is that if you can save a fraction f of your income for the next n years, then you can live work free for the next n*f/(1-f) years after that. You do this by changing your lifestyle such that f is big and you enjoy your life. Then when you stop getting paid, you can happily carry on like that. Obviously you should increase your income as well! 7 years of work at 90% savings = 63 years worth of cash. Once you're saved a reasonable chunk of money (~$500k) it starts to look after itself (if you invest sensibly) and you can make it last indefinitely.
  - pyrrhotech 13y ago
    yea something like that. I love MMM. I'm pretty frugal but I don't save 90% though. However, I make a good bit, have already been working a few years so have a nice base. I'm targeting the $1.5 million range, then move somewhere cheaper and live like a king.
ufukbay 13y ago
I don't have a family yet but I'm planning on doing something similar. You are allowed to retire at the age of 67 in Germany (well at least for my age group - I'm 29), so I calculated how much money I would need to live in my home town which is in Turkey. Depending on how much I can save now, I would be able to retire earlier. However I still need to come up with a good idea on what to do there because I cannot imagine doing nothing 24/7. Usually I get bored after the first half of a two weeks vacation. As for work life balance, I count myself lucky to have 30 days of paid vacation at my current job.

This is too hard. I plan on doing something similar except instead of work 4 months every year and take the rest of the year off, I plan on working about 7 more years and never working a day again.

davty 13y ago

Do you mind sharing anymore details of your plan?

aaren 13y ago
Probably something like this: http://www.mrmoneymustache.com/2013/02/22/getting-rich-from-zero-to-hero-in-one-blog-post/ http://www.mrmoneymustache.com/2013/02/22/getting-rich-from-... The basic idea is that if you can save a fraction f of your income for the next n years, then you can live work free for the next n*f/(1-f) years after that. You do this by changing your lifestyle such that f is big and you enjoy your life. Then when you stop getting paid, you can happily carry on like that. Obviously you should increase your income as well! 7 years of work at 90% savings = 63 years worth of cash. Once you're saved a reasonable chunk of money (~$500k) it starts to look after itself (if you invest sensibly) and you can make it last indefinitely.
- pyrrhotech 13y ago
  yea something like that. I love MMM. I'm pretty frugal but I don't save 90% though. However, I make a good bit, have already been working a few years so have a nice base. I'm targeting the $1.5 million range, then move somewhere cheaper and live like a king.

ufukbay 13y ago

I don't have a family yet but I'm planning on doing something similar. You are allowed to retire at the age of 67 in Germany (well at least for my age group - I'm 29), so I calculated how much money I would need to live in my home town which is in Turkey. Depending on how much I can save now, I would be able to retire earlier. However I still need to come up with a good idea on what to do there because I cannot imagine doing nothing 24/7. Usually I get bored after the first half of a two weeks vacation. As for work life balance, I count myself lucky to have 30 days of paid vacation at my current job.