[Steve9]

http://www.forbes.com/sites/laurashin/20...u-can-too/

[iknowexactly]

(10-05-2013 08:42 PM)Steve9 Wrote:  

http://www.forbes.com/sites/laurashin/20...u-can-too/

I was thinking of asking about how to retire at 50.

My 30 year old friends save NOTHING.

To retire you need something at a MINIMUM ( others say 500k) of 200K, to save 200K between 30 and 50 means something like 400-800 per month.

There's ALWAYS a reason to WAIT to start saving.

I got lucky and got a cush pension, otherwise I'd still be a full time slave in my 50's.

[Vacancier Permanent]

Easiest most guaranteed way to retire LEGALLY at 30 when starting at 18 without being a pro athlete/singer/actor/genius inventor?

Head to oil sands, get into a trade and get to work. By the time you're 30, you will be debt free, with a ton of very highly valuable skills that are in demand worldwide, plus a killer network of contacts in your field. Oh and not to mention, at least 1-2 Millions in the bank. Provided you didn't piss it all on booze, drugs and strippers or overpriced trucks. Or worst, knocked up a chick or two or 5 and got taken to the cleaners via the family court through child support.

For anyone in here in their early 20's, the oil sands is YOUR best ticket out there! BY FAR! Get to work boys! You will be very glad you did!

Forgot to add that this is still a tremendous option even for the older guys. I'm in my early 30's and I've just made the move to the oil sands. Things are slowly starting to fall into place for me in here after less than a week and taking shape. 2-3 years in this and I'll be in a FANTASTIC position. 5 years and I'll be set for life.

To all of you guys stuck in a dead end life sucking soul crushing JOB in a cubicle or underpaid or even unemployed, fuck that shit and get your ass over here! I haven't met or heard of anyone who has regretted making the move. NOT ONE! There must be a reason for that...it's that it freaking works!

Get out there guys, there is still a ton of opportunities in the right place. Namely North Dakota for you Yanks and Alberta for us Canucks and Western Australia for those down under. Anyone else, find a way to get into these opportunity dens by any means.

[WesternCancer]

^^ that post gave me a boner. (nohomo). Time to get off my ass and look into my oil field options.

[Vacancier Permanent]

WC, just do it man! The soonest the better!

[TopPanda]

IT/finance/law is an alternative. I'm a geek and I'm pretty much retired at 40.

I still work, but on my own terms.

I just stopped buying junk for a while, didn't go out much, didn't buy a car, in fact I didn't really buy anything apart from food.

Ask yourself this. If you go to Starbucks... why?

[pitt]

Great interview.

I am also digging through his blog and he has lots of interesting content.

Anybody ever tried the lending club? He said he makes 17% annual yield on lending club, that's great money for not doing anything.

[Videl]

(10-06-2013 12:56 AM)TopPanda Wrote:  

Ask yourself this. If you go to Starbucks... why?

Because I don't have an expensive coffee machine and I'm a student.

[jdreise]

(10-06-2013 05:47 AM)Videl Wrote:  

(10-06-2013 12:56 AM)TopPanda Wrote:  

Ask yourself this. If you go to Starbucks... why?

Because I don't have an expensive coffee machine and I'm a student.

I think that's the point of the OP's article:

If you're buying Starbucks everyday at $1.70-$5.00 per drink, then you could just cut back on that for a couple of months and afford the "expensive" coffee machine.

Better yet... Find your nearest Vietnamese grocer and buy a cheap French press at $6 or $7 bucks. Buy 4 or 5 cans/bags of premium grade Vietnamese chicory roasted coffee. Good shit. It's awesome with a strong joint. Freeze all but one and make your own coffee as need be. You'll grow to appreciate the slow percolation process, get a chance to hit on Viet girls in the supermarket, and have some kind of "DHV" or whatever for when you pull broads back to the pad.

This shit ain't rocket science, dude.

[Beyond Borders]

(10-05-2013 10:54 PM)Vacancier Permanent Wrote:  

Easiest most guaranteed way to retire LEGALLY at 30 when starting at 18 without being a pro athlete/singer/actor/genius inventor?

Head to oil sands, get into a trade and get to work. By the time you're 30, you will be debt free, with a ton of very highly valuable skills that are in demand worldwide, plus a killer network of contacts in your field. Oh and not to mention, at least 1-2 Millions in the bank. Provided you didn't piss it all on booze, drugs and strippers or overpriced trucks. Or worst, knocked up a chick or two or 5 and got taken to the cleaners via the family court through child support.

For anyone in here in their early 20's, the oil sands is YOUR best ticket out there! BY FAR! Get to work boys! You will be very glad you did!

Forgot to add that this is still a tremendous option even for the older guys. I'm in my early 30's and I've just made the move to the oil sands. Things are slowly starting to fall into place for me in here after less than a week and taking shape. 2-3 years in this and I'll be in a FANTASTIC position. 5 years and I'll be set for life.

To all of you guys stuck in a dead end life sucking soul crushing JOB in a cubicle or underpaid or even unemployed, fuck that shit and get your ass over here! I haven't met or heard of anyone who has regretted making the move. NOT ONE! There must be a reason for that...it's that it freaking works!

Get out there guys, there is still a ton of opportunities in the right place. Namely North Dakota for you Yanks and Alberta for us Canucks and Western Australia for those down under. Anyone else, find a way to get into these opportunity dens by any means.

What's your position, VP? Labor? Any high-paying gigs for a guy with a semi-disabled hand? Can still lift shit but pounding and wrenching of any sort would be a big no-no.

[LowerCaseG]

(10-06-2013 05:47 AM)Videl Wrote:  

(10-06-2013 12:56 AM)TopPanda Wrote:  

Ask yourself this. If you go to Starbucks... why?

Because I don't have an expensive coffee machine and I'm a student.

[phoenix101]

(10-06-2013 05:47 AM)Videl Wrote:  

(10-06-2013 12:56 AM)TopPanda Wrote:  

Ask yourself this. If you go to Starbucks... why?

Because I don't have an expensive coffee machine and I'm a student.

Just an anecdote, but I bought an "entry-level" machine many years ago for about CAD$375 incl tax...coffee was more than satisfactory with just store-bought pre-ground, vacuum-packed italian coffee...lasted me about 6-7 years so it paid for itself several times over.

[phoenix101]

(10-06-2013 11:00 AM)LowerCaseG Wrote:  

(10-06-2013 05:47 AM)Videl Wrote:  

(10-06-2013 12:56 AM)TopPanda Wrote:  

Ask yourself this. If you go to Starbucks... why?

Because I don't have an expensive coffee machine and I'm a student.

Yeah, it's absolutely sickening, a latte is the most basic and easiest thing in the world to make...moka (stovetop) espresso, warmed milk, and sugar. Warm the milk in a small pot on medium to just when you see a tiny wisp of steam rise, put it in a mug 3/4 or 4/5 of the way, fill the rest with the moka espresso, put some sugar, done, now pay yourself $5.

[Vacancier Permanent]

There are so many options out there ranging from physical to more technical and trades. I took a one week pre employment course in a technical trade before coming here. So there are tons of options for those who want to use more their brains that are not as physical or demanding as a physical job like labour or working on a rig.

(10-06-2013 09:00 AM)Beyond Borders Wrote:  

(10-05-2013 10:54 PM)Vacancier Permanent Wrote:  

Easiest most guaranteed way to retire LEGALLY at 30 when starting at 18 without being a pro athlete/singer/actor/genius inventor?

Head to oil sands, get into a trade and get to work. By the time you're 30, you will be debt free, with a ton of very highly valuable skills that are in demand worldwide, plus a killer network of contacts in your field. Oh and not to mention, at least 1-2 Millions in the bank. Provided you didn't piss it all on booze, drugs and strippers or overpriced trucks. Or worst, knocked up a chick or two or 5 and got taken to the cleaners via the family court through child support.

For anyone in here in their early 20's, the oil sands is YOUR best ticket out there! BY FAR! Get to work boys! You will be very glad you did!

Forgot to add that this is still a tremendous option even for the older guys. I'm in my early 30's and I've just made the move to the oil sands. Things are slowly starting to fall into place for me in here after less than a week and taking shape. 2-3 years in this and I'll be in a FANTASTIC position. 5 years and I'll be set for life.

To all of you guys stuck in a dead end life sucking soul crushing JOB in a cubicle or underpaid or even unemployed, fuck that shit and get your ass over here! I haven't met or heard of anyone who has regretted making the move. NOT ONE! There must be a reason for that...it's that it freaking works!

Get out there guys, there is still a ton of opportunities in the right place. Namely North Dakota for you Yanks and Alberta for us Canucks and Western Australia for those down under. Anyone else, find a way to get into these opportunity dens by any means.

What's your position, VP? Labor? Any high-paying gigs for a guy with a semi-disabled hand? Can still lift shit but pounding and wrenching of any sort would be a big no-no.

[Giovonny]

(10-06-2013 11:38 AM)Vacancier Permanent Wrote:  

I'm in my early 30's and I've just made the move to the oil sands.

Do you still sell vacation packages online?

I thought you were location independent?

Do you give up in the internet business?

[JayJuanGee]

Surely the point of the link in the OP's thread was to live within your means no matter what job you pursue and to maximize savings in that regard. Yes, a high paying job will accomplish that sooner, and getting a college degree may delay the pursuit of the monied job; while having to pay off the college debt.

No matter the case, there will be a pretty major freedom if a guy can obtain passive income higher than his expenses. Then chose the extent and type of work merely based on whether you like it rather than whether you have to do it.

I'm sure that there can be considerable risks in the beginning of moving to living off your passive income, and if some life set back takes place, a guy may not be sufficiently insured or hedged and be forced back into working.

[worldwidetraveler]

So much emphasis on retiring young. I would think the better alternative is to find something you enjoy doing that gives you the lifestyle you want.

[JayJuanGee]

(10-06-2013 07:31 PM)worldwidetraveler Wrote:  

So much emphasis on retiring young. I would think the better alternative is to find something you enjoy doing that gives you the lifestyle you want.

WWT:
I think that the point is that, a guy strives to NOT have to do any work if he does not want to, and if a guy truly enjoys whatever work that he does and the enjoyment of the work lasts, then in some sense that guy has already reached the goal of independent living (and reaching that will be different for different people).

Surely, some people have jobs that they really do enjoy and get tremendous satisfaction from their obligations within the job.

However, let's say, for example, a guy is working in one of these jobs and he says that he really and truly enjoy it; how much does he have control over your daily and weekly activities of the job? Is the enjoyment truly of the guy's choice, or is he just saying that in order to rationalize that he has to have a job to survive. If this hypothetical guy gets on a pussy chasing whim for 3 months or longer, would his JOB allow him to pursue that? and to go to whatever location in the world for a period to satisfy his whim(s)?

Surely, we each have different definitions of freedom and independence, and some guys may not feel that they have any desires to engage in pussy inspired travel whims. So, we can consider our circumstances and decide for ourselves whether our JOB allows us sufficient freedom that we want or not?

If a guy lives independently on passive income, then he would be able to drop everything and do whatever it is that he wants at any time. For me, I am o.k. if I have to give two months notice to make my travel plans in order to save money; however, it would be even better, if I were to be so independently able to make my travel plans at a whim and within a week or so. I find it very unlikely that I would find the level of wealth to travel on a whim, but I am expecting to be able to have the level of passive income wealth to be able to travel to inexpensive world locations with a couple months notice and back and forth to the states 2-3 times a year.

Likely, each of us will come to different conclusions about how much we are willing to tolerate being tied down or how much of a taste we have for more expensive luxuries. The guy in the article talks about being tied down to real estate investments, which certainly could cause issues in which that guy is not freed from obligations in order to travel, and he has also chosen to obtain a WIFE and some kids which is also going to limit him, but within his framework, he has structured financial passive income within his expenses.

I think that the sooner and the more sustainable a guy can create these kinds of environments of being able to chose his own activities the better for the guy.

I would rather to be able to achieve an environment of independence at 20 or 30; however, if I am not able to achieve it until 50 or later, then surely, I would like to achieve it at the first possible opportunity. And, surely, if I am not able to get every independence that i want, then better to have as many of them as possible, and in that regard, it would be better (as you suggest) to have a working situation that I truly enjoy and do not feel as if I am being restrained in any meaningful way.

[alphaspiraton]

Scotian in 3..2..1

[Vacancier Permanent]

Gio,
I still do the vacation biz and I won't stop it anytime soon as it's a great little biz with tremendous potential (3 sales=10k/month!) and incredible perks (savings up to 90% off retail on resorts/hotels around the world) as a end user. But right now, I'm in a phase where I want to build a nice 6 fig capital in as short amount of time as possible to pay off a large debt and finance my plans, ideas and other projects I have in mind, including investing in my travel biz to really take it to the next level.

(10-06-2013 04:17 PM)Giovonny Wrote:  

(10-06-2013 11:38 AM)Vacancier Permanent Wrote:  

I'm in my early 30's and I've just made the move to the oil sands.

Do you still sell vacation packages online?

I thought you were location independent?

Do you give up in the internet business?

[scotian]

(10-06-2013 10:55 PM)alphaspiraton Wrote:  

Scotian in 3..2..1

Haha, ya I know a few guys working in the oil sands who are on 5 or 10 year plans, basically they work all year and save as much as they can, its possible to save $100-150K per year up there. The downside is that you actually have to do the work, which isn't really all that great and your social life really suffers, one guy I know has almost hit a million over the past 7 years and he can probably count on one hand the number of times he's had sex in that time (not counting hookers, of course). A lot of these guys waste the best years of their lives (20s) chasing money in the oil patch and a lot of them suffer from depression, isolation and get caught up with drugs and alcohol.

All the money sounds good in theory but its a lot different in reality, not everyone can handle it. Its hard to explain but I can't work like I used to, to be honest I got burnt out from the long hours and long ass shifts in Fort McMurray. I didn't even go up there this year, I took an easy gig in another province (70-80 hours per week as opposed to 100+) and I like it better.

Myself, I'd rather save $50K per year and have time off for myself to travel and actually enjoy life. Another thing is that I actually enjoy working, it can suck sometimes but as long as I can get away with only working 5-6 months each year then I'm fine with that. I may even take a "normal job" in the city and cut down on the traveling in the next year or so, we'll see. I'm getting the fuck outta Alberta in a few weeks though, its snowing here already!

[Videl]

(10-06-2013 11:00 AM)LowerCaseG Wrote:  

(10-06-2013 05:47 AM)Videl Wrote:  

(10-06-2013 12:56 AM)TopPanda Wrote:  

Ask yourself this. If you go to Starbucks... why?

Because I don't have an expensive coffee machine and I'm a student.

I have that shit. It is shit. Doesn't give same taste. Of course it won't How can you compare 10 dollar piece of metal with 500 dollar state of the art coffee machine?

[thegmanifesto]

(10-07-2013 10:12 AM)Videl Wrote:  

(10-06-2013 11:00 AM)LowerCaseG Wrote:  

(10-06-2013 05:47 AM)Videl Wrote:  

(10-06-2013 12:56 AM)TopPanda Wrote:  

Ask yourself this. If you go to Starbucks... why?

Because I don't have an expensive coffee machine and I'm a student.

I have that shit. It is shit. Doesn't give same taste. Of course it won't How can you compare 10 dollar piece of metal with 500 dollar state of the art coffee machine?

How can you compare a $10 land line phone that never drops calls to a $500 dollar gay Iphone that always drops calls?

[scandibro]

(10-07-2013 09:41 AM)scotian Wrote:  

best years of their lives (20s)

Ah well, I think that for a man who makes smart choices and keeps fit, the 30s are going to be best years of their lives.

Youth is wasted on the young though, so if you are one of those rare people who can take advice from the 'elders' in your early 20s, then your 20s may be the best.

Here's my issue with the oil sand biz though. I can definitely see it as a one year thing instead of joining or being forced into the military or doing it as a gap year. But do you want to work in the oil trade as a workman going forward?

I think every guy in his 20s should be less concerned about money - cause 20 somethings don't need money to get laid or live a fun life - and a lot more on aquiring skills in a field they are passionate about.

10 years in your twenties to aquire skills is a long time. You can become quite a master in that time. Read the stories of most successful guys in whatever field. It is always about slumming it whether being a bouncer waiting for an acting break (Vin Diesel) or a tech guy in a garage (Jobs).

You don't need money in your early to mid twenties imo. Just stay out of debt, that is all, seriously don't get in debt. I realize this is hard to do for many in college, but get a job or use some of the info you learn here to get a well paying online gig.

Stay out of debt, get a couple of mentors in your field by taking low paid apprenticeships (and overdelivering), then in your late 20s when your brain is finally grown up and able to make year long strategy, you can take that loan to start a business. Work hard, work smart, launch a product and sell it 5 years later, then retire late 30s and coast on selling books about doing it, being a speaker, investing in other startups etc.

THAT I believe is possible. You will not get rich by saving money, you will get rich and retire from making a lot and then having skills to fall back on.

[nmmoooreland20]

Quote:

Ah well, I think that for a man who makes smart choices and keeps fit, the 30s are going to be best years of their lives.

Youth is wasted on the young though, so if you are one of those rare people who can take advice from the 'elders' in your early 20s, then your 20s may be the best.

Here's my issue with the oil sand biz though. I can definitely see it as a one year thing instead of joining or being forced into the military or doing it as a gap year. But do you want to work in the oil trade as a workman going forward?

I think every guy in his 20s should be less concerned about money - cause 20 somethings don't need money to get laid or live a fun life - and a lot more on aquiring skills in a field they are passionate about.

10 years in your twenties to aquire skills is a long time. You can become quite a master in that time. Read the stories of most successful guys in whatever field. It is always about slumming it whether being a bouncer waiting for an acting break (Vin Diesel) or a tech guy in a garage (Jobs).

You don't need money in your early to mid twenties imo. Just stay out of debt, that is all, seriously don't get in debt. I realize this is hard to do for many in college, but get a job or use some of the info you learn here to get a well paying online gig.

Stay out of debt, get a couple of mentors in your field by taking low paid apprenticeships (and overdelivering), then in your late 20s when your brain is finally grown up and able to make year long strategy, you can take that loan to start a business. Work hard, work smart, launch a product and sell it 5 years later, then retire late 30s and coast on selling books about doing it, being a speaker, investing in other startups etc.

THAT I believe is possible. You will not get rich by saving money, you will get rich and retire from making a lot and then having skills to fall back on.

This is sound advice, but only applicable IF you already have a field you are passionate about, which seems hard to achieve by the time you're 20. It's sort of a catch-22 since it's hard to know if you're passionate about something until you're immersed in it long enough to be good at it. Say it takes 2-3 years to figure out if you like something enough to do it the rest of your life, you better hit it on the first 2-3 fields.

The other option is just to maximize for money off the bat-- say working in finance or the oil fields- and then having years 30-80 to do whatever you want.