Early retiree credits his $1 million net worth to these 7 ‘unpopular opinions’

[Shadow King]

So he retired at 35 and has only raised his worth by 100K in 6 years?

Coli Financial Wizards am I being unreasonable?

 

[Uachet]

So he retired at 35 and has only raised his worth by 100K in 6 years?

Coli Financial Wizards am I being unreasonable?

Yes you are. Just the fact that he is growing in wealth without having to work is a net good for him. It means that his living expenses are less than his gross gains from his investments. If he maintains his growth pace in expenses taking in consideration inflation too, he will continue to grow his wealth at a slowly increasing rate. This is how it works normally for people without a large infusion of money to start with.

 

[Shadow King]

Yes you are. Just the fact that he is growing in wealth without having to work is a net good for him. It means that his living expenses are less than his gross gains from his investments. If he maintains his growth pace in expenses taking in consideration inflation too, he will continue to grow his wealth at a slowly increasing rate. This is how it works normally for people without a large infusion of money to start with.

If you say so

 

[Originalman]

This like some basic advice. Really it ain't saying much. The most important advice I can say (outside of what he said don't get a dumb ass mate that is irresponsible with money).

Is manage your money /get a budget (or your money manage you), if you at a job and they offer 401K invest in that hoe cause they giving you free money to match, stop keeping up with the joneses, don't stretch yourself when you buy cars, homes and etc (if you can't still invest for retirement after buying that shyt then you don't need to spend that much on it), try to increase your salary (whether jumping, getting promotions or getting more training/education) but when you increase it also increase your % that you put in your investments, don't use all the extra money you make when you get a raise (or career advancement) to buy dumb ass material shyt, live below your means and don't spend tons of money on education / training that will not set you up with a good salary.....do not a spend a ton of money on an education that will not give you ROI compared to what you put into it.

 

[Originalman]

The point about a life partner is the one most of y’all should focus on. Y’all got ya priorities all the way fuccked up on here.

What folks don't understand is its not just finding a smart life partner. Most well to do regular folks are well to do because they are combining two salaries.

If you can find a mate that is financially responsible plus they have a good career salary wise that is a cheat code because you are combining salaries.

 

[Originalman]

Nothing new was said.


If I left hoes alone the past 3-4 years i’d be a millionaire right now

They talked about how the late great blues singer Howlin Wolf even in old age was financially successful compared to his peers during their music career. One of the reasons he was is because his wife was very very smart money wise and handled all his finances.

They also talked about how compared to his peers that he went on tour with the elder Howlin didn't have side chicks, a drug habit, splurge on cars or clothes and jewelry. He was even able to offer band members better pay than other blues artist and even offered them health care benefits. Which is one of the reasons he could maintain his band and folks wouldn't leave his group.

 

[Nigerianwonder]

How is he going to live off if $1 million the rest of his life?

I never trust these stories, especially when the writer is white. You look at the details and you find bullshyt like "I lived in my grandmother's vacation house to save money on rent" or "I drove the late model car my parents bought me for graduation instead of buying an even later model car like those showboat minorities do"

And $1 million isn't enough to retire on at 36 unless you're REALLY frugal

The key take away is that he switched jobs to maximize his earnings and he and his wife were in high paying professions. He is was software developer so he was making over 250k per year and got stock grants that could easily be worth 100s of thousands if he was working for a major tech companylike Google or amazon. Assuming his wife also made at least 100k there is nothing special they had to do other than not blow their money. Saving a million off earing 300 to 400k annually in 10 years isnt hard to do.

And you can easily retire off 1 million if you live within your means. Even a conservative 4 percent return annually gives you 40k net to live off per year. 40k net is like earning 70k gross before taxes. You can live good off that especially if your house is paid off.

 

[Duke Wy Lin]

Are you white? or arguing just to argue?

Black people don't have the same luxury of job hopping like a white man. I've seen it numerous times. Are there exceptions? Sure, there's exceptions to EVERYTHING in life but in general he's right.

@Doobie Doo is definitely right. It depends on the industry. Make excuses for being stagnant in life, brehs.

 

[Duke Wy Lin]

So the fukk what? What's a nikka supposed to do, NOT job hop cuz he's not white? WHo gives a shyt what luxury a cac has, if a nikka wants to job hop then job hop. The risk ain't worth staying put

Some of these dudes have a terrible mindset.

 

[Uachet]

Some of these dudes have a terrible mindset.

Who said not to job hop if the opportunity arises? Please, point out where anyone said that. I know you understand English as well as I do, so you should be able to tell that saying something is harder to do is not the same as saying something can not be done or something should not be done.

 

[TRUEST]

What folks don't understand is its not just finding a smart life partner. Most well to do regular folks are well to do because they are combining two salaries.

If you can find a mate that is financially responsible plus they have a good career salary wise that is a cheat code because you are combining salaries.

Breh listen. While combining salaries can be a plus, it can also be an hindrance if your status in life isnt completely in your control. Say for instance u and your wife buy a house together. If y’all should get divorced for any reason, you’ll either have to buy her out, or sell the house. A very expensive ordeal. And the timing of this could be very bad. With whatever u have left over u may not be able to buy a house ever again.

My point being, learn to depend solely on ur self. Because after all, that’s the only person u have control over. If you’re lucky enough to find a wife, make sure she can stand on her own, financially and won’t be a leech in any way.

I’ve had people ask me to join businesses with them and my answer has always been no. Attaching myself to anyone serves me no real benefit because my determination, resoluteness, concentration is usually unmatched. They have a whole lot to benefit from me. But I don’t see their benefit, hence my rejection of their proposals.

women can be a great joy to have. But make no mistake about it, they will derail your life. No woman wants to stay home several weekends back to back cause u working on a business idea.

 

[Blessings]

I never trust these stories, especially when the writer is white. You look at the details and you find bullshyt like "I lived in my grandmother's vacation house to save money on rent" or "I drove the late model car my parents bought me for graduation instead of buying an even later model car like those showboat minorities do"

And $1 million isn't enough to retire on at 36 unless you're REALLY frugal

Most white folks don't disclose life alley-hoops(inheritance, benefiting from family property, whiteness).....