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Couple retires in their 30's with 1 million in the bank, travels world?

Discussion in 'Economics, Business, and Taxes' started by SW48, Apr 1, 2015.

  1. SW48

    SW48 Administrator Staff Member Supporting Member

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  2. connieb

    connieb Senator

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    I think they will work again in some capacity. But, if they are really smart and really budget well and have no major disasters - they can probably make it.

    I have some friends that are really into the "minimalist" lifestyle and they have really cut their living expenses and are living well on what I would consider a pittance, and saving the rest. But, they have completely opted out of the whole keeping up with the Jones.

    Right now their kids are young so they get away with no sports, no lessons, everything second hand or yardsale, no TV, etc. So we will see it they are able to hold to it when the kids get bigger and begin to influence spending a little more.

    connie
     
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  3. freyasman

    freyasman Senator

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    Yep.... them offspring sure do get expensive. :cool:
     
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  4. connieb

    connieb Senator

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    Sure do.
     
  5. fairsheet

    fairsheet Senator

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    Per what others are saying, note that they haven't had any children yet. It would've been really difficult for them to've set this pot aside if they had had kids. On the other hand, their new lifestyle looks to be a great one for raising kids.

    Although....I imagine that if you were to ask my step-children - now in their mid-to-late 30's, I'll betcha they'd insist that I made them live a minimalist lifestyle! Hey....we saved and planned for their college all those years and they chose not to go....that's not MY fault!
     
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  6. freyasman

    freyasman Senator

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    Did you keep the college money you'd saved for them? Since they chose not to go?
     
  7. fairsheet

    fairsheet Senator

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    Uhh...what're you suggesting I did with it otherwise? Bought donuts?
     
  8. freyasman

    freyasman Senator

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    It's your money, right? You set it aside to pay for their education, but if they chose not to go to college, then it's still yours to do with as you wish. I was just curious if you kept it, or gifted it to them anyway.
     
  9. fairsheet

    fairsheet Senator

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    Thanks for asking. I should say that it wasn't exactly like we kept a running account balance with their name on it. I've heard that some Grandparents do that sort of thing - most likely to ingratiate themselves with their grandchildren!.....but with us, it was more about ordering our affairs such that should they have chosen to go, we would've been in a position to help.

    The girl married young and when she and her husband came back from his 3-year AF tour, we reiterated our dream of sending her to a 4-year college. She declined and has never complained. The other one...the boy....has sucked some $30k out of us for tech school, and has subsequently pissed it all away.
     
  10. freyasman

    freyasman Senator

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    Yeah, I can relate.... between my boy, my godchild, and my soon-to-be-arriving grandchild, I expect I'll get to keep maybe 10 cents out of every dollar I make for the rest of my life, lol. Li'l suckers are expensive, ain't they?
     
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  11. fairsheet

    fairsheet Senator

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    Best we can do is be thankful we've got the resources to share. I'm mean...hey, what else are ya gonna do? -:)
     
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  12. Woolleybugger

    Woolleybugger Mayor

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    I was planning the same thing in my late 20's, moving to Kenya and live there forever. Then I met my wife. 1 million is a lot of dough, if done right, you can live like a king in some wonderful places but kids end up costing a lot more than you think...good luck to them
     
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  13. Fast Eddy

    Fast Eddy Mayor

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    You need way more then that to retire at thirty.
     
  14. Max R.

    Max R. On the road Supporting Member

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    Only if you want to buy them shoes and put them through college. ;)

    IIRC, it costs about $250K to raise a middle-class kid in the US.

    That said, "wealth" is directly relative to "costs" and a lot of "costs" are directly related to "want". Want less and it costs less. People can live great with second hand cars, smaller houses and less luxurious expenses for years on relatively small amount.
     
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  15. Caroljo

    Caroljo Senator

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    I have a friend that has what I think would be a DREAM job. They have their own website, and sell their services. Right now they're 'homeless'...but they travel the world. They house-sit, sometimes house-pet sit for people in all different countries. They take care of others homes anywhere from 2 weeks to up to 3 months. They get paid very well....and get to see all the different cultures. They're very well off!
     
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  16. Woolleybugger

    Woolleybugger Mayor

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    very true, wise words indeed. But let me tell you some more wise words...once you start making serious dough, you would be shocked at how much shit you start buying. It happened to us and all my friends. Very few folks remain stingy once you start making money. At the end of the day, money is only good if it makes you happy. I can tell you that we have had a ball and that I have no regrets. You can live for tomorrow but sometimes tomorrow never comes. We can all drop at any time, there is a balance and no one knows the perfect balance but what the hell...
     
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  17. Max R.

    Max R. On the road Supporting Member

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    Which explains why you (and I) hang around here. ;)

    Agreed money is fun. It's not having money that's the problem. It's both or either the love of money or the want of money that causes people problems.
     
  18. Lukey

    Lukey Senator

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    In a ZIRP world? What are they getting, $15 $20K a year in interest?
     

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