If you had the money to retire at 30, your savings would be invested and on an average year your earnings would cover your expenses. You would have health insurance, so no worries there. The only catch is that you would have to keep your expenses at 65% of what you spend right now. Would you take it, or would you rather work a few more years for a better lifestyle and financial security?
For sure no. I don’t want to live frugally for the long term. I played that game in college and I’m not excited to go back.
If living on 65% of my current income was possible.
If I had that little I would be homeless, not retired.
But by 30 most people have already contributed way more than they will ever consume by existing peacefully.
I don’t think I could keep my expenses at 65% of what I spend now because I already spend as little as I can since I’m trying to save up for an early retirement. I’d love to retire as early as possible.
I would have retired at 16 if I could.
I don’t think you would keep up with inflation
Fuck yeah. Nothing’s more tiresome and stultifying than the whole work routine. That’s time you’re never getting back.
The whole idea of retiring at 65 after you’ve been squeezed like an orange that’s been sent twice into the press, just to “enjoy” your failing body, failing senses, failing brain in your twilight years is absurd.
If you can retire at 30, hell yes do it.
I am older than 30, but am literally facing this decision right now. I have chosen the latter: work for more years for better lifestyle and financial security. My job isn’t too bad, so I don’t have a huge push to walk away.
I’m planning to scale back my career in a few years, but most likely part-time or seasonal work rather than full-on retirement.
I would, but it’s not possible since I don’t have millions of dollars in my savings account.
I’d do it, but retiring early = doing my hobbies instead. Long days writing books, making art, volunteering, and pet sitting. Retiring would just mean working the jobs I want instead of the ones I have to.
Healthcare costs grow rapidly as you age, and have been outpacing inflation in the US. If your remaining money is only keeping up with inflation over time, you are very likely to fall behind later in life, when job opportunities are more scarce, and less lucrative.
If you can make changes to live more frugally now, and work a year or two more while your money is growing in the background, you will be much better off long term.
I have numerous family members that have lived a long time, and eventually faced severe health issues, so I expect that in my future. I will work until my retirement savings are more than I need for my current lifestyle, and then cut back on certain things to do my best to prepare for that eventuality.
Personally, no. You’re barely an adult at that point. If you have the privilege of a disposable income at thirty, splurge and enjoy yourself. Treat yourself to new experiences.
I wasn’t even out of school yet.
I’ve heard of people being kept back a year but damn my dude
Did a PhD. Those take time.
Yeah i figured as much but I like my jokes
i tried and its boring as fuck so i want to work again instead
65 percent of jack shit is not enough to live on my guy.
Good point, but also my question is pointless if you are already living frugally, because that would basically be “would you like more time and money?”
Yes I would like more time and money thank you
Can I get like 3 time and 1 money and… uhhh… a chocolate shake.
If I could retire right now at 38, and kept my expenses at 100% of what they are right now, I’d still be choosing which bill can wait a week and a half past the due date to make sure we can all eat.
65% and we start drawing straws for who gets eaten this week.
