Actually it’s only locked up until 55 for 401k plans when you retire from the company.bergsteigen wrote: ↑Mon May 03, 2021 12:58 pmCorrect, if you funnel all your savings into retirement accounts, then it is locked up till 59.5 years of age. Doing so makes ones tax burdens much much less. This guy has a lot of blog posts, so you may want to sift through some of them, as he talks about investing post-tax dollars. I’ve read virtually all of his posts, except when he makes fun of people who drive into the mountains weekly for our enjoyment. Thankfully my accounts are large enough to get a personal finance advisor, so I have more than just retirement to build up and utilize for early retirement. Speaking of which, I need to call him today.ker0uac wrote: ↑Mon May 03, 2021 12:39 pmI agree, I do subscribe to most of what's in this article. I don't think my expenses should go up as I make more money - Im childless. So five years ago, I began sending whatever raises or bonuses I get straight into savings/retirement.bergsteigen wrote: ↑Mon May 03, 2021 12:07 pm Yes, you *can* retire before 65/67, if you don’t spend all your take home $$$. I plan on retiring early and cutting hours ASAP.
From a local Longmont guy who retired at 30:
https://www.mrmoneymustache.com/2012/01 ... etirement/ (He’d be sad at most of our lifestyles, except for Justin)
But Im just asking from a tax perspective. I maximize my contributions to both 401k and IRA, and use all tax loopholes to do so, so the bulk of my money is locked in through legal retirement age, unless I pay the early penalties.
What do you guys do for work/careers?
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- JChitwood
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Re: What do you guys do for work/careers?
"I'll make it." - Jimmy Chitwood
- GreenHorn
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Re: What do you guys do for work/careers?
I find characters like the money mustache guy to be a little disingenuous. I haven't looked at him in a while, so apologies if I'm miscategorizing him specifically, but a lot of these "tell you how to retire early" types leave out the part where they now make significant cash off of a blog or youtube channel telling you how to retire early. That's a career change not retirement. More power to them if it makes them happIer, but be 100% honest about it.
- bergsteigen
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Re: What do you guys do for work/careers?
I don’t have the link offhand, but he does post about what he makes off his website/affiliates/etc. He’s also upfront about the fact that he still does some work - because he wants to. It doesn’t change the math. Wish I had done some better financial planning after school. Never thought I’d have the possibility to retire early.GreenHorn wrote: ↑Mon May 03, 2021 6:39 pm I find characters like the money mustache guy to be a little disingenuous. I haven't looked at him in a while, so apologies if I'm miscategorizing him specifically, but a lot of these "tell you how to retire early" types leave out the part where they now make significant cash off of a blog or youtube channel telling you how to retire early. That's a career change not retirement. More power to them if it makes them happIer, but be 100% honest about it.
"Auto racing, bull fighting, and mountain climbing are the only real sports ... all others are games." - Ernest Hemingway (or was it Barnaby Conrad?)
Your knees only get so many bumps in life, don't waste them on moguls!
“No athlete is truly tested until they’ve stared an injury in the face and come out on the other side stronger than ever” -anonymous
http://otinasadventures.com @otina
Your knees only get so many bumps in life, don't waste them on moguls!
“No athlete is truly tested until they’ve stared an injury in the face and come out on the other side stronger than ever” -anonymous
http://otinasadventures.com @otina
- summitrunner
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Re: What do you guys do for work/careers?
Thank you!
"To give anything less than your best is to sacrifice the gift." PRE
- summitrunner
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Re: What do you guys do for work/careers?
Thank you!Mattm3535 wrote: ↑Thu Apr 29, 2021 2:17 pm Woohoo! Another thread to which I can comfortably contribute. I am a special education teacher for students with emotional disabilities. I work with grades 5-8. Simultaneosly spiritually rewarding and apocalyptically soul crushing, but I couldn't imagine myself doing anything else. Except maybe owning a small souvenir shop in Ouray. Now that would be perfection, but apparently you need knowledge and/or money and/or a strong work ethic and/or good luck to start your own business. And I have none of those things. I do have summers off, which is fantastic, but I live in Illinois, and I already did all 6 things one could do in this state.
"To give anything less than your best is to sacrifice the gift." PRE
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Re: What do you guys do for work/careers?
I'm a middle school reading teacher. Works out pretty nicely with the summers off, but alpine season and my summer don't match perfectly. I have all of June and July off, then we usually start teacher work in early August and kids return mid August. Can't really complain about those 8 weeks off plus all the holiday breaks.
The money ain't great but once you've acquired your gear (slowly over time) then all you really need is time to get out there and explore
The money ain't great but once you've acquired your gear (slowly over time) then all you really need is time to get out there and explore
Re: What do you guys do for work/careers?
That doesn't surprise me.
"A couple more shots of whiskey,
the women 'round here start looking good"
the women 'round here start looking good"
Re: What do you guys do for work/careers?
That doesn't inspire me.
http://listsofjohn.com/CompletionAll.php?M=dpage"
www.mountainproject.com/u/derick-page//110079707
"Resist much. Obey little." -Abbey
www.mountainproject.com/u/derick-page//110079707
"Resist much. Obey little." -Abbey
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Re: What do you guys do for work/careers?
Nerds.
Those who travel to mountain-tops are half in love with themselves and half in love with oblivion
- Bale
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Re: What do you guys do for work/careers?
My real job is to hit the road with my buddy Dean, take copious amounts of drugs while hitting all the best Jazz joints, then write about it almost incoherently. People love it!
The earth, like the sun, like the air, belongs to everyone - and to no one. - Edward Abbey
- highpilgrim
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Re: What do you guys do for work/careers?
Put a rag soaked in ether under your gas pedal and push on it hard.
Oh: watch out for the bats.
Call on God, but row away from the rocks.
Hunter S Thompson
Walk away from the droning and leave the hive behind.
Dick Derkase
Hunter S Thompson
Walk away from the droning and leave the hive behind.
Dick Derkase
Re: What do you guys do for work/careers?
The key to retiring early is a government job with a pension that allows you to buy time. Thanks taxpayers.