how many of you are interested in FIRE? (Financial independence Retire Earl)

[MyNameIsHammurabi]

I won’t explain the whole thing since tons of info is already online. I’ll explain the premise really quick.

you save up 500k and invest in the stock market preferably index funds. you withdraw 4% adjusted with inflation. In this case 4% of 500k = 20k. That is the amount of money you can spend yearly without ever running out. In other words if you can live on that 20k you will never ever have to work again (maybe) Life has zero guarantees excepted death.

 

[Zargrim]

I'm on the smoke weed and play video games all day plan

 

[amabo]

I'm on the smoke weed and play video games all day plan

Isn’t that expensive tho

 

[MyNameIsHammurabi]

I'm on the smoke weed and play video games all day plan

great I hope for you that you don’t regret having that mindset in the future

 

[Zargrim]

great I hope for you that you don’t regret that having that mindset in the future

I can promise I won't

Isn’t that expensive tho

They are the only things I spend money on besides the necessities of life. And I don't go crazy with the weed or video game costs.

 

[amabo]

I can promise I won't

They are the only things I spend money on besides the necessities of life. And I don't go crazy with the weed or video game costs.

I used to get ripped off on pot quite a bit

 

[NeverEndingWinter]

500k is a lot lol. I'll probably never same up that much in my life to begin with

 

[HikiNEET]

It requires a loooot of wagecucking. If the stock market grows at 7%, then it would require 1000$ monthly for almost 20 years.

 

[Zargrim]

I used to get ripped off on pot quite a bit

Yeah for now I buy it, once I finish some stuff I will probably try improving my growing skills. I made a few half ass attempts at growing and got maybe an ounce of shitty quality weed. Getting good at growing weed is definitely on my to do list.

 

[MyNameIsHammurabi]

500k is a lot lol. I'll probably never same up that much in my life to begin with

that was just an example you could go ahead and do it with 200k at 10%. Whatever works for you. Don’t you live in a home? Check how much it’s worth and see if you can come up with the money that way.

 

[Zargrim]

as long as you live in a first world country you can get rich if you are really motivated to do so, unless you are a complete retard

 

[amabo]

as long as you live in a first world country you can get rich if you are really motivated to do so, unless you are a complete retard

Oversimplification

 

[PickledNEET]

this sounds like it would take over a decade of wageslaving just to be really poor

unless ur a lottery winner/super genius businessman which in that case why even go here

 

[Zargrim]

Oversimplification

nah

 

[MyNameIsHammurabi]

this sounds like it would take over a decade of wageslaving just to be really poor

unless ur a lottery winner/super genius businessman which in that case why even go here

not exactly you could sell your house and start investing in highly volatile stocks. Maybe you have an intellectual property you could sell for a few hundred thousand. Good old fashion wage slaving is an option.

 

[HikiNEET]

not exactly you could sell your house and start investing in highly volatile stocks. Maybe you have an intellectual property you could sell for a few hundred thousand. Good old fashion wage slaving is an option.

This is assuming a NEET owns big house in a valuable area (and nothing else). I doubt that describes most of NEETs.

Selling it just means they have to pay rent which means they must relocate to a lower cost area (assuming those exists) and rent a cage apartment to have some of that "FIRE income" left over.

It would be a big downgrade in standards of living.

 

[Disorder]

Sounds good other than the initial cost, the only ways I'd ever get that kind of money is if I won the lottery or my family died in some accident.

 

[MyNameIsHammurabi]

This is assuming a NEET owns big house in a valuable area (and nothing else). I doubt that describes most of NEETs.

Selling it just means they have to pay rent which means they must relocate to a lower cost area (assuming those exists) and rent a cage apartment to have some of that "FIRE income" left over.

It would be a big downgrade in standards of living.

Not at all if you are are smart about it you could do very well. Being jailed inside your house is the worst thing possible. Living in a van would be more interesting

Edit
The median house is close to 300k

 

[PickledNEET]

not exactly you could sell your house and start investing in highly volatile stocks. Maybe you have an intellectual property you could sell for a few hundred thousand. Good old fashion wage slaving is an option.

i doubt most people here own property

 

[impale]

I won’t explain the whole thing since tons of info is already online. I’ll explain the premise really quick.

you save up 500k and invest in the stock market preferably index funds. you withdraw 4% adjusted with inflation. In this case 4% of 500k = 20k. That is the amount of money you can spend yearly without ever running out. In other words if you can live on that 20k you will never ever have to work again (maybe) Life has zero guarantees excepted death.

You could retire with less than that and make more money if you learnt how to invest in dividend stocks, though I guess working on analyzing the market isnt exactly retirement

 

[impale]

I'm on the smoke weed and play video games all day plan

same tbh