June 2, 2010
I’m thinking of planning a retirement. Is 31 too young to actually stop working, forever?
Randy asked:
I’ve worked hard, usually more than one job at a time since i was like 14. I see lazy people, everyday, who have never worked one day as hard as i do, normally. How do i get aboard that gravy train?
Nina
Comments on I’m thinking of planning a retirement. Is 31 too young to actually stop working, forever?
Carolyn
Never too young to retire. Just make sure you have a passive source of income to do it.
Bailey
Yes Quit bing so lazy
Romeo
Welfare? Born rich?
Gunnar
whatever dude
Zaniyah
How much money do you have and how much do you need to live? If you retire that young you will be paying for an awful lot of insurance and other benefits that would normally be paid while you work.
To retire in your sixties, you would want to take out no more than 3 or 4% of your nest egg each year. That will almos guarantee your money will last.
If you want a 40 or 50 year retirement, then you would need a nest egg that you could take no more than 2 or 3% per year.
Of, get some investments that pay you - rentals, etc.
In general, 31 is too young to stop working. And, quite honestly, I’d not want to retire that early. You gonna sit on the couch for 50 years?!?!!?
Monique
If you don’t have the money to live on until you are old then 31 is too young. Marry a rich old lady.
Maci
31 is a good age but u have to be rich…..
Rylie
OK Randy, I am 34; is that too young to be your “sugar mama”? I’ll take care of you
Jovani
I took my early retirement at 63 friend you really need to think about it it was good for app 8 months then reality set in ,i’m back to work 24 hours a week. and have a limit that uncle sam lets me make without penalities, be sure you have enogh residual incme before you do residual income is based on a desire to change your lifestyle and not be stagnant to many people think the grass is alwaysgreener else where. THINK ABOUT IT
Chris
31 is not too young….provided that you have enough income to live the lifestyle you can be happy with….like you i have been working most of my life (hell i was filing tax returns at the age of 9)….so if you are like me you have to work in order to feel productive even if it is part time…i dont know that i couldnt work…a two week vacation drives me crazy….by day 3 im ready to go back to work! but - if you decide to retire early then i hope you are happy with it and its all you thought it would be….its nice to see someone who has worked hard enough to be able to contemplate this