Comments on: Who wants to retire in their 20's, anyway?

By: AJC

AJC — Thu, 05 Jun 2008 13:55:28 +0000

@ sr3d – Thanks, but struggled with the sound … wouldn’t it be great if the video had captions on it?!

By: sr3d

sr3d — Thu, 05 Jun 2008 05:34:48 +0000

Inside the mind of ‘Kimbo Slice’
http://tubecaption.com/watch?v=0idnTreAFuU

A friend of mine is really into Kimbo, a street fighter. Fighting is not really my thing but this interview shows how much a guy goes thru to fullfil his dream, to take care of this family, to be able to pay the bills. It’s not about the fight, it is about his determination.

If you’re not okay with the occasional strong language, skip it till the 7th minute — but you may miss out some good insights about how hard life is for some of us.

I have more respects for people like Kimbo who literally fights for his dream. In the end, no pain no gain — unless you are born rich.

By: AJC

AJC — Thu, 05 Jun 2008 03:03:24 +0000

@ Trainee – my list is very similar to yours, but when you get closer to 50, your needs suddenly jump from coach/backpacking to business class / 5 star … hope you plan for that, well in advance!

By: traineeinvestor

traineeinvestor — Thu, 05 Jun 2008 00:58:49 +0000

I have a long list of things to do when I eventually retire (hopefully in about 5 years time). Writing a book, travel, cure my technophobia, some charity work, study part time etc. Apart from travel, most of these are fairly cheap. If I feel concerned about boredom or cutting myself off from the office life I will always have the option of reducing to part time working for a while.

By: AJC

AJC — Wed, 04 Jun 2008 22:57:26 +0000

@ M/Monk – Or you can write a couple of blogs and research a book … seems to soak up a lot of time

By: Moneymonk

Moneymonk — Wed, 04 Jun 2008 22:48:15 +0000

i) Your income goes DOWN

ii) Your spending goes UP

Amen!

The problem retirement makes you have time on your hands, then you tend to spend to keep yourself busy.

I always say I am smi retired, meaning My income goes to my lifestyle and investments (retirement, stocks, colloge fun) I don’t work for payments, My side income and husband take care of bills.

I doubt if I can completely stop working. I will be bored as hell.

I will more likely take a sabbatical for about a year than straight retire

By: AJC

AJC — Wed, 04 Jun 2008 19:20:28 +0000

@ Heidi – depends on what you plan on eating

By: Heidi

Heidi — Wed, 04 Jun 2008 18:43:50 +0000

I’d like to retire by 30. Lofty goals, considering I just turned 26 on Monday!

By: AJC

AJC — Wed, 04 Jun 2008 16:31:05 +0000

@ SRD – TubeCaption is a great new product for captioning YouTube videos; but, you are welcome to do so. Just let me know during this Thursday’s 8pm CST live chat if we need to turn the sound up/down.

BTW: $2 Mill. TODAY should give you a safe (no-need-to-work) income indexed for inflation, for a long time (I hesitate to say ‘for life’) of $50k – $70k p.a. (again, TODAY – if you wait 10 years, you had better plan for $3Mill for the ‘same’ income) … does that pay for everything that you need INCLUDING travel? Or, will you need to find ways to earn an income in semi-retirement, instead?

@ Josh – Who knows, by planning for ‘retirement’ in your 20′s you might actually be able to retire in you 20′s or 30′s?!

By: Josh

Josh — Wed, 04 Jun 2008 16:18:34 +0000

I’m thinking about retirement a lot (in my twenties) because much like putting together a jigsaw puzzle, things always go easier with the end product in mind.