Living Frugally to Retire By 40? Mental Illness or Smart ?

Brianharvey said:
God, I hate it.
One of my friends plays football (soccer to most here I imagine) in the premier League (UK) and makes about £40k per week. I find it depressing to be around, lol.
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There's plenty of golddiggers around to blow that for him in no time.
 
I'd say your fault for bringing up an irrelevant point.
Motivations for those who look for enough money to retire and those who are retired are different.
Psychiatrist will have a hard time retiring with lotsa ( ! I doubt he really has lotsa of 'em, how many would that be ? )millions if he builds his career treating upcountry farmers.
 
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I don't necessarily desire to retire young, but I do desire to be well off while I'm young so I can do whatever I want hobby wise. I would love to buy farmland and fill a shed with ATV's, Dirtbikes, etc, have a boat, fun stuff outside....currently I spend just about all that I make though and don't have much room to cut stuff out...so I will settle for trying to find a higher paying job for now lol.

I put 9% into retirement and my employer matches 3%, I started it at 19 so that will give me quite a few years to really grow that for retirement. Then I put 4 or 5% in a college account for my son so that will be one less expense in the future to eat away at my savings.

I will be 38 when my son graduates high school :eek:
 
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luisHK said:
I'd say your fault for bringing an irrelevant point.
Motivations for those who look for enough money to retire and those who are retired are different.
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What? He wasn't (young) enough to retire before he was retired?

Please, make an argument like an intelligent person.
 
Scataphagos said:
Isn't that the truth. Just ask Mike Tyson.
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Over here in Holland there's a guy called Ruud Gullit, who was a pretty good soccer player in his day. This guy has been married three times without a prenup. He was worth about 30 mln euro when he retired from soccer, now in his 50's he's left with something like 3 mln. And this story is not an exception, it's rather common among soccer players in Europe. Makes you wonder what kind of advisors those guys hire. But the guy who takes the cake is Wim Kieft, he blew literally tens of millions on coke and golddiggers and is now in a debt redemption program, in which you have to live of 200 euro's a month.
 
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Ditch said:
Over here in Holland there's a guy called Ruud Gullit, who was a pretty good soccer player in his day. This guy has been married three times without a prenup. He was worth about 30 mln euro when he retired from soccer, now in his 50's he's left with someting like 3 mln. And this story is not an exception, it's rather common among soccer players in Europe. Makes you wonder what kind of managers those guys hire.
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Tennis star Bjorn Borg blew nearly all of his fortune by losing ~$26Million to start a clothing line. What? "$26Million in the bank" ain't enough? You gotta "risk it all to press for more wealth"? Not smart. Most of us, not even "stars", get multiple chances to screw-up big time financially and still come out smelling like a rose.
 
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Scataphagos said:
Tennis star Bjorn Borg blew nearly all of his fortune by losing ~$26Million to start a clothing line. What? "$26Million in the bank" ain't enough? You gotta "risk it all to press for more wealth"?
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At least he didn't blow it on chicks and I believe he recovered pretty well. The other BB, Boris Becker, also had his share of business failures. His foe on the courts, Stefan Edberg, on the other hand became a successful hedge fund manager. Note that Stefan Edberg stayed with the same girl.
 
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