The Millennials Not Spending Money So They Can Retire Early

While some Millennials struggle to break into the housing market, others have committed themselves to a new movement of saving all their money, without making any fun purchases, so they can retire early.
But is it realistic for everyone?
35-year-old retiree Dave Gow explains how he did it.
#Retirement #Millennials #Housing

[@Abracadabra154]

The hosts have misunderstood the deeper point of 'Die with Zero'. It doesnt simply mean don't leave the kids nothing. It means dont keep accumulating and accumulating mindlessly your whole life for fear of running out of resources and wake up when you are old and have regrets about what you didnt do but wanted to. If leaving an inheritance is important to you thats ok. The point is minimise regret and don't end up necessarily being the richest person in the graveyard.

[@joeyc666]

I love how the last host says "I don't know anything about money ..."
And then pretty much proceeds to talk as much as the primary interviewer 😂

[@kmaki86]

The hosts very clearly didn't read the book. It even says that if you want to give an inheritance to your children - why wait until they are in their 50's (when you pass away in your 80's or 90's) when they don't really need the money. Give them the money you would like them to have earlier when it can make a huge difference in their lives like their early 30's when they are buying their first house, for example.

[@Larry1-pl2wq]

I'd retiring or working less in 8 years, and considering this financial recession, Im deciding to begin taking up skilled trades. I'm curious to know best how people split their pay, how much of it goes into savings, spendings or investments, I earn around $120K per year but nothing to show for it yet.

[@reddead2067]

Who knew Millennials had so much savings squirrelled away.

[@user-wl3fn7gn6l]

The younger generation are wiser! They are resisting getting locked into the system of getting a mortgage and spend your life trying to pay it off. They see through the system and don’t want to be part of it - and they know they can’t get ahead. Good on them I say, that’s the only way we will get change.

[@TerryRoberts-ji7oc]

this tells you nothing how did he make his money so he can retire typical 10 no substance.

[@tocakawaiibear9041]

He has a blog and wrote a book. Strong money australia. He worked, saved and invested. Also has no kids so that's a bonus 😅😅

[@tjacks07]

He was a forklift driver.

[@fredsalfa]

@@tocakawaiibear9041How much money did he accumulate?

[@joshdinning6573]

@@fredsalfa25x his yearly expenses which are around 45k for him and his partner

[@joeyc666]

@@fredsalfa I can't remember if he owns his own place. If he does, I'm thinking the expenses for he and his partner would be between $40 - 50k
So assume a 4% return on the stock market (I think this is conservative), prob about $1.25 million AUD?

[@cman86s]

I don't ever want to retire. To retire is to expire! Life is short, so figure out whatever is it you want to do, and pursue it relentlessly. Don't give up, and don't retire!

[@dragonite87]

To me, it's not about doing nothing but its about having the freedom to do whatever the hell you want, without having to worry about paying the bills.

[@thefire-nanceguy4440]

The retire early component is not the traditional meaning. The meaning here is do whatever you want. So you could continue working but you don't need to be paid for example like volunteer work.

[@zerosum1290]

hilarious

[@JM-bg2ts]

Doomed culture. The ungrateful recipients of past glory.

[@highbrass3749]

I agree. Boomers are awful.