Has anybody retired young (under 50) and stayed retired?

I'm mostly based in SEA but sometimes spend 3-6 months in South America. Your friend chose well with Poland and it's a place I'd like to spend some in the future. There's a great travel forum on Roosh's board with lots of good tips and advice for living cheaply in other countries.
Roosh V Forum

 

What kinda people do you generally hang around or interact with? I ask because most I saw would be younger than you, especially in backpackers or hostels. Does that bother you?

 

So how many years have you been retired now?
Has your passive income grown much during that time?
Do you think you will ever have kids?

 

I mostly interact with other locals, other retired expats (lots of young retirees in Asia) and FIFO workers who spend their time off living in Asia. I don't hang around backpackers or hostels.

I've been 'retired' nearly 8 years now.
Yes passive income is now close to $50k pa.
I don't have any plans to have kids but won't say never.

 

Good to see your passive income is increasing over time.
Can you share how you are generating this passive income?
Also, how much maintenance does it require to keep everything up to date and covered.

 

Good thing you don't sell the appliances or the retirement police will be after ya

 

I agree - not retired...I think better words @MTR should use would be Financial Independence.

 

Most of my income comes from rent, a little comes from shares. I sold a blue chip property (regret it in hindsight) to pay down a lot of debt and renovate other places to increase the rent on those. Also bought some condos in SEA which gives decent cashflow. Spend about $10k pa on maintenance.

 

I have been looking at this, what country are you doing this in?

 

Great.
What I meant about maintenance was more about what you have to do to keep on top of your investments such as legal stuff, resolve any issues, insurances and basically stay registered with everything.

 

I started in Thailand then Hong Kong and most recently Philippines. Properties in HK and Thailand were purchased when the AU$ was strong. The apartment in HK was purchased with a friend 50/50 and needed major reno. Condos in Philippines were purchased more recently but still have a decent return. If you're looking at doing this there's some opportunities in Pattaya and Makati. I should mention I'm non-res so don't pay tax in Oz on any income or capital gains from property or shares however I've lost my tax free threshold so I pay a lot of tax in Oz on my Oz rental income.

If it's smooth sailing I spend a few hours a month entering rent statements into a spreadsheet and about the same replying to PM emails about any maintenance or leases. If I'm doing a reno then I spend a lot of time on whatsapp coordinating trades and looking for items.

 

This should be how your whole life is based

 

I've retired... Well sent my wife to work! She doesn't know it yet but I have no interest going back!!
Women have had it too good for to long I say! Staying at home drinking wine for breakfast, "looking after the kids"...it's awesome! Especially now with everything automated, dishwasher, robot vacuums, microwaves, grocery shopping online, eBay, the freakin internet! The feminist movement was great but bad timing I say, why would you want to break the "glass ceiling " when you could be at home knocking back a few glasses of wine you ordered in your undies and delivered to your door while eating cheese that Mr woolies delivered
It's time more men took advantage of equality and all that malarkey! You go girls!

 

Or set up systems where the business can run itself without you being there.

The E-myth revisited by Gerber is a great start into thinking along these lines.

 

Where do I get a wife like yours!

 

Its a double edged sword!
Hang around your local hospital, the nurse are mad or drunk, usually both

 

Hey @MTR,
Congrats on your success to date. That's a mighty effort.
I'm interested to know how do you continue to do developments and keep actively investing when retired?
Do lenders continue to borrow you money? Especially when developments are considered 'high-risk'?
I read that once your rental income is more than 50% of net income, many lenders look very unfavourably and stop lending to you altogether.
I ask because developments is one of my long-term goals, however I thought I would only be able to supplement my developments whilst I was continuing to work and had a solid income stream.
Also, were you at the Meetup on the Wednesday that just went past?

 

Hi TE
yes, continue to invest/developments, it's only been 3 years on this route.
I think finance is most challenging, I think most investors will say same at some point..there are always ways around this. I have posted a couple. Eventally income from developments will make life easier, nearly there

My developments - I would not class as high risk, because if I could not sell and market changed the rental income will cover the mortgage and I stick to bread and butter areas, more buyers, the higher the end price, less buyers and rent will not cover bank interest, a big one. As developers we are at the mercy of markets turning.

I am in Perth, not Syd, I heard meet up was great

MTR