Re:Mr. Money Mustache’s retirement (sort of) plan
by desdiv on Monday February 22, 2016 @04:17AM
(#11149558)
>and that he makes 400k/year from the site
Fool-proof retirement plan that anyone can follow:
1. Have 400k/year of passive income.
2. Retire.
Re:Mr. Money Mustache’s retirement (sort of) plan
by w23j on Monday February 22, 2016 @04:48AM
(#11149688)
Of course the timeline in this case was:
1. Retire
2. Live of savings as planned for years
3. Start a blog that ends up making money
Re:Mr. Money Mustache’s retirement (sort of) plan
by bildung on Monday February 22, 2016 @04:49AM
(#11149690)
According to his site, he was already retired when he started blogging.
Re:Mr. Money Mustache’s retirement (sort of) plan
by nodamage on Monday February 22, 2016 @05:10AM
(#11149766)
Be that as it may, there's a pretty big difference in financial security between retiring at 30 with $600k in the bank (where one financial emergency puts you on pretty thin ice) and retiring with $600k in the bank plus $400k/year extra income.
Are you sure about that? He worked during the boom era (1998 to 2007) and the article says he saved 250k in five years, which indicates that he had a very good salary.
In addition, he says that he and his wife still work occasionally (and she was also a developer in the boom era) and that he makes 400k/year from the site.
I imagine that it's much easier to retire at 30 if you have a crapton in the bank made on a high salary in a good economy (when you bought your houses [one of which they rent out]) and then have recurring income that can pad out your savings in event of any emergencies that might come up.
Someone who's budgeted 30k a year for the rest of his life and doesn't have the kind of job/expertise to do random contract work and retires could easily find himself completely ruined by one bad accident.