[ABC] Financially independent by 35?

Discussion in 'Financial Independence, Retire Early (FIRE)' started by Spiderman, 14th Feb, 2018.

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  1. Mac Fields

    Mac Fields Well-Known Member

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    Great! Retiring for me is retiring from the obligation to go to work each and every day to fill financial obligations.

    'Retiring' is choosing when and how to work - there may be a period where I want to be fully engaged in some paying occupation, then other times I know that my passive income will carry me through and I choose to do some volunteering, or.... absolutely nothing for a while.....
     
  2. Indifference

    Indifference Well-Known Member

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    Perhaps a better term for this is Financial Independence &/or Semi-retirement.....

    No longer needing to work for financial gain and stopping work altogether enduringly, are two very different things.
     
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  3. Alex Straker

    Alex Straker Financial Life Coach Business Plus Member

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    Free range human ;)
     
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  4. TreeChange@50

    [email protected] Well-Known Member

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    Yep.
     
  5. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker Business Member

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    I know a few people who have reached the point where their passive income covers there basic living expenses and when this happens their outlook on life changes - they have **** you money - they could tell their employer to stick the job up their arse at any point if they wanted to. They don't worry about losing their job, because they think they could get another even if it takes 12 months it wouldn't matter.

    Many reaching this point don't quit work - most because of fear I think, but some want more, greed kicks in for some, but others just want to build up a higher income before pulling the pin.
     
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  6. Spiderman

    Spiderman Well-Known Member

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    I dislike the word 'retire'. It implies a retreat from society, especially its public, political or economic life.

    Whereas a healthy person with financial independence should be able to do more, including an increased engagement in social, political and community life.
     
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  7. Lacrim

    Lacrim Well-Known Member

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    Kudos. How did you achieve the $50K passive and being mortgage free in Oz? Is the $50K from rents or shares etc?
     
  8. bfhoon

    bfhoon Active Member

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    This is interesting. Wouldn't mind doing a similar thing myself however im already 35 I would pay out my mortgage first, then work for 5 years more perhaps investing approx $200K in the sharemarket which I have never really touched before. Assuming you went for good dividend paying stocks how much potential dividends could be had for this kind of investment as an approx estimate. Im thinking of breaking into the share market and im with CBA. Is it worth starting up a CBA share market account???? What would people recommend.
     
  9. Mac Fields

    Mac Fields Well-Known Member

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    Like your thinking. :)

    The Other Assets section may be able to help. There are lots of threads in the sister forum Investchat.com.au , so throw up a question there.