Trying to find a way to retire by 35.

Not the only way but yeah most wealthy people do tend to either come from a privileged background or are rather unscrupulous, the idea that most people could retire at 35 if they "worked really hard" is really just a right wing fantasy.

Spoken like a true miserable leftist.
 
AkA "the truth", the vast majority of people who work very hard to not earn enough to retire at 35.

The corollary though is that most people who do well financially (have a comfortable living) -- in the west -- was a result of their own hard work.
 
Find a cheap real estate market. Buy a distressed multifamily for cash, fix it up enough to live in a unit while fixing the others. Get a home equity loan to pay for the other units repairs. Refianance it for the new higher value once you're finished rehabbing it and rent out the other units. Take the cash from the refinance and buy another house and rehab it. Get home equity loan once you finish rehab (prior loan should be enough to cover home and rehab costs since it's the value of your other home fixed up), and use that Loan to buy another. Same process. Once you get s few under your belt you have to be more creative with the financing but in the right market you can actually make a good living doing this and you can get established quickly. In my market one multifamily makes around 10-15k profit s year. Buy one a year while having your regular job and in ten years you'll have over 100k in residual income and also equity in every home you own that you can cash out on

~DaViD~


This is my plan for the moment. Especially if you buy in a down economy (not now) and you buy high cash flow real estate, you can get 25% ROI on investment property.
Today you could probably still see 15%. I've put in offers on multiple 3 and 4 families that cash flow enough for those numbers, and I live in New England where prices and relatively stable, other parts of the country you can work the more wild swings in price with market fluctuations.

So the idea is that to get 6-8k a month (72K-100K/ year) @ 15% roi I'd have to have about 500K to invest, if you wait till the next down turn and you're able to ride the wave and crush it @ 25% roi you'd only need about 300k and it would probably take about about 6 properties.
Figuring I'm putting down about 20% on these properties, thats a couple million in real estate that you now own due to the leverage the banks give you.

You could probably retire right there, especially if you keep supplementing your income with other stuff. In fact you might be able to retire with about half that amount depending on which part of the country you live, and still do side jobs, because rents will rise over time, so those numbers will grow on their own, and in 30 years the motgages will be paid off likely increasing those cash flow numbers dramtically, and the properties will have appreciated considerably so if you just wanted to ball outta control in your retirement you could liquidate them and play with what would likely be several million in cash.
 
The corollary though is that most people who do well financially (have a comfortable living) -- in the west -- was a result of their own hard work.

I wouldn't disagree there, most middle class people do well off of their own hard work, the problem is many other people do not do well off of a similar level fo hard work.
 
Do you know what your retirement will look like? You need a ton of money to live for ethe next 50ish years without any income.

I'm looking forward to semi retirement. Have a side hustle to earn some extra cash and stay grounded.
 
If you stop working your ass off you might be more positively disposed towards working another 30 years.
 
Kidding aside, I'm the same age as you and I have the same mindset. I've been trying to generate different streams of passive revenue. I'm not expecting to get rich overnight, but you keep working at something long and hard enough you'll win.
 
Same here OP.

My whole thing is I NEED to find a side gig I can do online from home. I hate going to work, but if I can work from home whenever I want I would probably put more hours into it than my full time job, even if it didnt pay much. I'd rather work 100 hours from home than 60 actually ar work.

No idea what I can do though.

Teach students in China English, you can get paid well with that (if you need more info, lemme know).

Also, I know a lot of people do surveys all day. Does it pay a realistic wage? No.

But can you support yourself doing it? Yes, if you put in a lot of time.
 
Lots of people retire.
They get fat, lazy, or drink too much.
6 months later the novelty wears off. Back to work they go.
Let that sink in.
Just observations.

I didn't think I'd see a legit response in this thread but there it is.

I actually retired at 36 but went back to work. I had a lot of fun for 2 and a half years but then it was time to get back to work. I know quite a few people who don't need to work, or are just active/passive investors, and I can tell you it's not as good as it sounds. Two problems:

1. Ever heard the expression Idle time is the Devil's play? It's not a joke. I know of a few guys who had way too much money and time on their hands only to create personal disasters which were totally avoidable. I know people are going to laugh at this but the expression "Hookers and blow" is not that far off the mark. More accurately it would be, "Hookers or blow" in my experience.

2. If #1 above doesn't take you down, then just becoming weird is the other risk. You know what, working is good for people. People who don't work often become just weird. They are out of touch with reality. They start to dwell on dumb shit and look for problems.

Some people can pull it off, most can't.

You gentlemen are both correct. Retirement kills.

If I were in a position that I didn't need to work, I would work part time or volunteer. I just wouldn't put myself in a position where I'd be stressing out over a job or dreading waking up early every day.
 
First, save about 100k. Buy land, tiny house, and get a part time job to make enough to pay the $10 propane bill. Just make sure to go off grid, solar etc, and live within your means.

Alternatively, if you can buy land near a faster running creek go hydroelectric + solar. With a wood stove all you comfort needs would be met year round.

Or, install a wood boiler for heat and hot water.
 
Don't you have a young girlfriend who you treat like shit? Might as well pimp her out.

I’ve been treating her really well the past few months.

She’s improved too. She cooks me healthy food every week so I don’t eat much takeout. She’s an angel.
 
The first thing you have to do is organize a rebellion.
Second, use said rebellion to overthrow the bourgeoisie.
Then, take all their money and eliminate political super pacs and anonymous political contributions. In fact, eliminate political contributions altogether. Then, without billionaires paying politicians to crush unions, unions and collective bargaining will finally make a comeback, people will he paid livable wages for jobs other than those in finance and banking, and you may have a shot at making enough money that you can retire at 55 or 65. 35 is never going to happen. More than likely, you and I will work until we die at 80.
 
You know you don’t have to be rich to do nothing. Take a look at my cousin, he’s broke and he don’t do shit.
 
I'm not savvy in technologies or starting a company whatnot.

The best short come outcome I could think of for me, would be to buy a house and rent it out. I could purchase a house near my local hospital and rent it to foreign student nurses - yummy!. Or if not, a property near the university to rent to students.

I'd have to continue my regular job for a while before I'd see my investment pay off. But then branch out down the line.

Fixed this for you.
 
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