I check out this other website a good bit. Invalid Link Removed
The guy that created it has a philosophy of minimizing all expenses, saving over half what you make, and retire as soon as possible. I usually skip the normal site stuff and just read the forums. There is a lot of helpful information about investing, real estate, etc. The main idea is that you can retire whenever you want as soon as you have at least 25x your annual spending saved. Not 25x your income, but your spending . Then you can withdraw 4% per year, and essentially make that money stretch forever. So if you only spend $25,000 per year, you can technically be retired once you have a $650,000 nest egg.
The idea is really appealing to me. I don't want to "retire" to watch Law and Order reruns all day. But I would like to have enough saved to where I don't feel I HAVE to work if I don't want to. I enjoy my job, but would enjoy it more knowing I don't have to kiss someone's a$$ in order to make my next house payment.
Thoughts?
The guy that created it has a philosophy of minimizing all expenses, saving over half what you make, and retire as soon as possible. I usually skip the normal site stuff and just read the forums. There is a lot of helpful information about investing, real estate, etc. The main idea is that you can retire whenever you want as soon as you have at least 25x your annual spending saved. Not 25x your income, but your spending . Then you can withdraw 4% per year, and essentially make that money stretch forever. So if you only spend $25,000 per year, you can technically be retired once you have a $650,000 nest egg.
The idea is really appealing to me. I don't want to "retire" to watch Law and Order reruns all day. But I would like to have enough saved to where I don't feel I HAVE to work if I don't want to. I enjoy my job, but would enjoy it more knowing I don't have to kiss someone's a$$ in order to make my next house payment.
Thoughts?
