Anyone retired early solely from property or shares?

Discussion in 'Investor Stories & Showcase' started by Lacrim, 10th Feb, 2019.

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  1. Shawn

    Shawn Well-Known Member

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    Hi Gunky would you be comfortable being my mentor?
    Your timeline is very similar to what I'd like to achieve.
    I am 27 now. Bought my first at 22.
     
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  2. Richard Taylor

    Richard Taylor Well-Known Member

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    Retired at 40 - Read my API interview.

    6 months later totally bored so now work for fun and to fill me days and love every minute of it helping other.

    Cheers


    Richard
     
  3. Gunky

    Gunky Member

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    Know that feeling Richard get very bored very quickly. Hard to fathom until you experience it hey?
     
  4. NHG

    NHG Well-Known Member

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    I heard Richard say this once few years back.
    Sound ridiculous until you actually do it.

    I took 12 months off work to experience 'retirement'. I wanted to shoot myself in the face. Spiraled into a depression.

    Retirement isn't for me. Focused on creating and growing business.
    Much more fulfilling than sitting on my ass in different countries.

    I'm 33. I can leave work today. 90% due to business income.
    Lifestyles better than average.

    Could drop business too and live on 'passive' rental income.
    I wouldn't have the stomach for it, FIRE is too restrictive for me (personal choice).

    Yet to meet someone who can retire early, who just stopped.
    It's a passion, not an outcome. Met an 82 year old the other week, has dozens and dozens of properties through-out Sydne yCBD. He was painting the kitchen (more directing his grand-kid to paint the kitchen). He won't stop.
     
    Last edited: 27th Aug, 2019
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  5. sash

    sash Well-Known Member

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    Navid...I keep this hear from you....my understanding is you don't have income certainty yet.....

    As for FIRE....you need to read a lot more...there are many types of FIRE....I have opted for what you call FAT FIRE which means incomes over 100k Perhaps you need to go to some of the meet-ups. It is one thing to say you have done and another to clearly demonstrate one has done this.

    I see a lot of spruiking...but 99.5% on this forum are not in position to retire today.
     
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  6. NHG

    NHG Well-Known Member

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    You got me.
    I don't even have property.
    I do it for the likes.

    There are two parts to FIRE.
    You can do FI, without having to prove it with RE.
     
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  7. Barny

    Barny Well-Known Member

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    You sure you retired with enough income to actually enjoy retirement? It's one thing to retire with let's say 100k after tax, but 500k-1mil+ would open up your imagination and experiences.
     
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  8. NHG

    NHG Well-Known Member

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    $1M? How can one truly enjoy retirement if you don't earn at least $5M+.

    I'm clearly taking the ****.
    What constitutes retirement varies from person to person.

    I've met a few that can genuinely leave work, but:

    1. Passive income is never truly passive. Some maintenance is required.

    2. Those that can retire early (comfortably) aren't the sort that do.

    3. It isn't always about replacing 100% of income. You can replace enough to downgrade your role, or work on things that interest you to cover the remaining portion of income.

    4. Eventually nieces need to go to school, and waterfalls across the world start to look the same. I realised I like to create. More meaningful to work on myself and I enjoy creating businesses.
     
    Last edited: 31st Aug, 2019
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  9. Big A

    Big A Well-Known Member

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    Have to agree with you @NHG . When your building up your nest egg your mindset is as soon as I get to my magic number I’m done. I’m going to stop working and live the dream. The you get there and realise 1. If you stop work life gets boring really quickly. 2. How much income is enough income. As you make more money you tend to spend more money. Your taste changes. Holidays get more expensive , cars get more expensive e.t.c. Then your re thinking your numbers going well if I can get to x amount passive income them that should cover my new found expenses. And so on and son on.

    Since I figured that I am going to want to keep working in order to stay sane. Then might as well keep adjusting that target and building the nest egg.
     
  10. Big A

    Big A Well-Known Member

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    How do you guys demonstrate this exactly? Do you take title deeds to property you own to meet ups? Do you take your bank statements with you to verify your passive income?

    I haven’t been to a meet up, but I might prepare my property title deed scrap book for the next meet up. :D
     
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  11. The Y-man

    The Y-man Moderator Staff Member

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    Brilliant! We can do a realestate and shares concours.... :eek::D:D:D

    The Y-man
     
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  12. Lacrim

    Lacrim Well-Known Member

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    If you get to retire early and get 'bored', maybe the problem isn't early retirement. Maybe the problem is YOU.

    For some who haven't any burning passions or found themselves prior to pulling the plug...building a career, business etc and earning $ defines them.

    I can think of half a dozen things I'd do with my time...some may, but not all will lead to further financial benefit. A lot of that what I want has no financial value, but tons of emotional value, soul enrichment and well-being.

    Retirement buys time full stop. It's a means to an end, not the end in itself. If all you can come up with is generating even more $, then I think you haven't really figured out why you seek financial freedom in the first place.
     
    Last edited: 31st Aug, 2019
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  13. Sackie

    Sackie Well-Known Member

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    I think most confuse financial wealth with emotional wealth. It's only recently that I've come to the unequivocal conclusion that they are indeed seperate conditions. They do overlap in some areas but mostly they are not intertwined nearly as much as many may believe.

    I had my ' enlightened' moment not long ago when I realised at the end of the day we really aren't investing for the money per se, but rather what emotions we think the money will create in us.
     
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  14. Big A

    Big A Well-Known Member

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    Haha. Are we gonna compare the size of our shares?

    It’s not the size of your share portfolio that matters ok. It’s how you use it.
     
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  15. Big A

    Big A Well-Known Member

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    Totally agree. It’s not retirement that’s the problem. I am just a mess. o_O
    But working keeps me busy and distracted from the emotional issues. Maybe all that passive income can pay for the therapy.
     
  16. NHG

    NHG Well-Known Member

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    Money solves money problems.

    If one has thrown themselves into building wealth due to ego, or avoidance of some other deep seated emotional issue, all FI does is provide more time to spiral.
     
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  17. spludgey

    spludgey Well-Known Member

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    Sorry, but I disagree.
    More money beyond a certain amount does not increase overall happiness.
    $100k after tax is a lot of money if you have your PPOR paid off! It would still allow you to go on two overseas trips per year. Even in business class, if need be.
    We're (family of three) on less than $100k after tax now and we're living a comfortable life, even though we're paying over half of our net income into principal repayments.
    If I had the choice of retiring on $100k after tax now or $500k in ten years, I know which one I would choose!
     
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  18. Barny

    Barny Well-Known Member

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    How can you disagree to something if you haven’t been in that position?

    I clearly never said that having more money brings more happiness.
    It brings opportunity to try new things, study and learn new topics. Gives you time to master what ever you choose.
     
  19. Lacrim

    Lacrim Well-Known Member

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    And without being overly dramatic or morose, let's not forget that in the end of the day, we are all heading to the same place. Time is precious, time is short.
     
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  20. Nodrog

    Nodrog Well-Known Member

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    +1