Very limited message. I did retire at 28 and this guy skipped all of the real world pitfalls, other than money. I can tell the real story, not this guy.
Greetings from north of the border, just came across your channel. Congratulations for reaching FI, this not something many can do but you proved it’s achievable with proper planning, saving and investing. Thank you for sharing the tips, best of luck.
Fantastic presentation really glad I found your channel. I am aiming at FIRE by 49, wife and three kids as well who will still be at home when I do so, so it’s really interesting to see there are others in that position and you did it without any extremely well paid jobs etc.. Congratulations on your journey so far! :)
Thanks Chris for watching. I will continue to post additional talks in the upcoming months. Good luck on your FIRE journey and hope to meet you at a future CampFI.
We live in quite a time. When normal workers can be FI in 10 years time. Ive seen it happen to many. And its possible even without a booster-pack of years (2007-2012) in investing.
I appreciate you sharing your retirement life… What you said about investing thousands a month over 18 months is exactly what I needed to hear to keep me doing what I’m doing in the market.
Exactly. Learning from Justin and others who have been through similar situations to this year (2022 market downturn), and seeing that it worked out in the end for them, definitely helps us to stay the course. Thanks for watching S Tom.
The ACA is heavily dependent on how you structure your MAGI in retirement. You can live on $80,000 a year but if only $20,000 is taxed as income you will pay significantly less than someone in retirement who is living off $70,000 taxable income in retirement. Additionally the size of your household matters. There's a few more variables such as the location you live in. You have wildly different prices for the same situation from state to state or even county to county.
@@NipItInTheBud100 Oh I've seen it done. Especially when you can keep your MAGI low plus have kids on the plan. It's not cheating. It's just following the law as written. I mean Amazon was making record profits yet found a way to pay $0 in federal taxes. It's up to Congress to change the law not the individual to volunteer to pay more than the law says they should. But in any case most of the plans will require a fairly high deductible and the lower the monthly premium the higher the deductible typically.
@@ariefraiser140 I get there are ways to cheat the system....and trust me, those corporations are cheating the system. I just didn't think it's possible to pay $0.00 for health insurance through the ACA. I would think if you qualified to pay $0.00 for insurance then you would qualify for Medicaid.
@@NipItInTheBud100 How is following the law cheating the system? FYI Medicaid qualification is purely based on your MAGI. You can't buy a plan on the ACA if your MAGI falls under a certain level. The actual system won't allow you.
ACA is only cheap for you because you don’t have an income… if you were making your engineering salary you’d be paying a tone. It is subsidized for you.
This is my story and no one can tell it better than me. I started out top 2% of Americans in 1989 and am now top 15% in 2023. Inflation hurts, ill health hurts, kid's costs hurt, divorce hurts. Your income will get impaired at some point, even if you're a trust fund baby. I am sort of a trust fund kid, but not quite. Turn 30, educated but no job, but still with a very high income, and a girl's parents will try dissuade their daughter from dating you. I own commercial real estate that was featured in the Wall Street Journal. But crap happens contracts can and do get impaired. Better have a backup plan. Obviously, I should do a video because few people have this experience.
I have lived off grid for over 25 years. Now that it's an in fad sort of thing and 95 percent of the folks attempting are completely in need of guidance (but unaware that they are)... maybe I could earn enough to not starve by coaching others. Hmm.
Hi Chris, Sounds like a plan to me. Living off grid is definitely interesting. Would you be interested in sharing your experience and knowledge at a future CampFI?
WOW, ACA 0-125 per month. Guess the rest of us working are paying to subsidize it. Gratz. Affordable for the people who don't want to work, not for the working though who pay the taxes to make it work. Couldn't watch the rest after that slide, sorry.
Plus income from the part time gigs blog etc. Means this person is earning an income and drawing down smaller amount from investments. Its what everybody does just with a shed load of investment wealth.
I retired at 28. I was single. Guess what? When you don't have a real job, women and even worse, their parents, look at you like you're a crazy gambler not marriage material.
@@CampFI This brings me to problem number two, at least pre Obama care. If you, your spouse, or both, get seriously ill such as cancer, you need health insurance, the kind that a major employer provide. I had to return to work.
How the fuck did he go from earning 80k per year to having a 1.1 million portfolio after just 10 years of working? I guess together they earn 150k and had good time when they bought stocks?
I retired at about the same time as Justin & have been following his story since 2014, he has everything detailed on his website as far as his salary & annual investment amounts per year in a post named zero to millionaire. Yes, the portfolio is from investments of the income of him & his wife. Also his wife worked for 3 years after he retired, so technically he was a stay at home dad of a family living on one income during that time. But it still quite an accomplishment for them to retire in their mid 30s with 3 children by a high saving rate & investments based on 2 fairly average salaries.
This guy's story is so incomplete that it can't and won't help anyone. This is laughable. 33 years old, huh, wait till the shit hits the fan, and it will in around 10 years. Then you'll look back at your life and say, I screwed up, how do I right the ship? Remember this day, it's going to happen to you. 1.1M, that's a joke. I am 61 and have made 7MM. It takes real money to live and 1.1m doesn't get it done.
I rarely comment, but I think I need to in this case. The setup works for him for 9 years now. He already had 3 most important areas covered: a house, a family and a wife that is on board with his decision. He chose to spend the time to raise his kids full time, while letting the passive income take care of modest finances. He also mentioned that while retired he still makes about 30k doing odd, low stress gigs. Average lifetime health spend for an American out-of-pocket is 500k (maybe 600k with inflation). Also in his presentation he described standard tools that were used that everyone can adjust to their needs. For example, if someone needs 100k a year, that would require a portfolio of $3-4M. Finally, for your case. Congratulations on $7M. However, you make is sound that even that is barely enough. Maybe out of fear. Or maybe out of bitterness that you could've retired much earlier. Your amount equates to over $200k a year to deplete it in your lifetime if it was just sitting in cash (and in any fund it would sustainably generate $200k a year easily). His goal (and of many others) is not to need to work to live, but be free from 9-5.
Some thoughts on your situation. You state that you have retired early(age 33). But then you state that you are earning about $30,000 per year. So you are not retired. You show your increase in net worth has almost tripled over the last 10 years while you "were retired". This period was one of the longest and best stock market bull runs in history. Run your numbers if you had retired in 1966. What about college savings for your children. You didn't mention that. Even though it has worked for you, I would not recommend this for a 33 year old unless he/she had around $5M of investments/net worth.
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Justin is the real deal. Great message without the self promotion or purple hair.
Very limited message. I did retire at 28 and this guy skipped all of the real world pitfalls, other than money. I can tell the real story, not this guy.
@@jimsmith8324Then make your own presentation?
Greetings from north of the border, just came across your channel. Congratulations for reaching FI, this not something many can do but you proved it’s achievable with proper planning, saving and investing. Thank you for sharing the tips, best of luck.
SN There are many amazing stories in the FI community that are shared on this channel. Justin's is definitely inspirational. Thanks for watching.
Fantastic presentation really glad I found your channel. I am aiming at FIRE by 49, wife and three kids as well who will still be at home when I do so, so it’s really interesting to see there are others in that position and you did it without any extremely well paid jobs etc.. Congratulations on your journey so far! :)
Thanks Chris for watching. I will continue to post additional talks in the upcoming months. Good luck on your FIRE journey and hope to meet you at a future CampFI.
We live in quite a time. When normal workers can be FI in 10 years time. Ive seen it happen to many. And its possible even without a booster-pack of years (2007-2012) in investing.
I appreciate you sharing your retirement life… What you said about investing thousands a month over 18 months is exactly what I needed to hear to keep me doing what I’m doing in the market.
Exactly. Learning from Justin and others who have been through similar situations to this year (2022 market downturn), and seeing that it worked out in the end for them, definitely helps us to stay the course. Thanks for watching S Tom.
Amazing! Great speaker! Thank u for sharing all the great tips! 😊
Glad you enjoyed it!
This is my dream life right here
The great thing is that it doesn't have to stay a dream. Completely achievable. Thanks for watching Gerardo.
What kind of insurance do you pay $0? I use the ACA and for decent insurance it’s $400+
The ACA is heavily dependent on how you structure your MAGI in retirement. You can live on $80,000 a year but if only $20,000 is taxed as income you will pay significantly less than someone in retirement who is living off $70,000 taxable income in retirement. Additionally the size of your household matters. There's a few more variables such as the location you live in. You have wildly different prices for the same situation from state to state or even county to county.
@@ariefraiser140 I get that but $0? I mean how much are you cheating at that point??
@@NipItInTheBud100 Oh I've seen it done. Especially when you can keep your MAGI low plus have kids on the plan. It's not cheating. It's just following the law as written. I mean Amazon was making record profits yet found a way to pay $0 in federal taxes. It's up to Congress to change the law not the individual to volunteer to pay more than the law says they should.
But in any case most of the plans will require a fairly high deductible and the lower the monthly premium the higher the deductible typically.
@@ariefraiser140 I get there are ways to cheat the system....and trust me, those corporations are cheating the system. I just didn't think it's possible to pay $0.00 for health insurance through the ACA. I would think if you qualified to pay $0.00 for insurance then you would qualify for Medicaid.
@@NipItInTheBud100 How is following the law cheating the system? FYI Medicaid qualification is purely based on your MAGI. You can't buy a plan on the ACA if your MAGI falls under a certain level. The actual system won't allow you.
ACA is only cheap for you because you don’t have an income… if you were making your engineering salary you’d be paying a tone. It is subsidized for you.
Do you have a video of the credit card hacking presentation?
We don't have recordings of credit card hacking presentations, but eventually I am sure we will. Please stay tuned. Thanks CapsFan082892 for watching.
Awesome!
Life Without Limits, Thank you for watching.
Great!
This is my story and no one can tell it better than me. I started out top 2% of Americans in 1989 and am now top 15% in 2023. Inflation hurts, ill health hurts, kid's costs hurt, divorce hurts. Your income will get impaired at some point, even if you're a trust fund baby. I am sort of a trust fund kid, but not quite. Turn 30, educated but no job, but still with a very high income, and a girl's parents will try dissuade their daughter from dating you. I own commercial real estate that was featured in the Wall Street Journal. But crap happens contracts can and do get impaired. Better have a backup plan. Obviously, I should do a video because few people have this experience.
You SHOULD do a video. I am sure many people could learn from your experience Jim. Let us know when you do please sir.
I have lived off grid for over 25 years. Now that it's an in fad sort of thing and 95 percent of the folks attempting are completely in need of guidance (but unaware that they are)...
maybe I could earn enough to not starve by coaching others. Hmm.
Hi Chris, Sounds like a plan to me. Living off grid is definitely interesting. Would you be interested in sharing your experience and knowledge at a future CampFI?
@@CampFI I don't have money to travel and stuff like that probably doesn't pay... but maybe the youtube route might work.
ty
Thank you for watching.
This just proves that engineers get paid way too much!
70-86k is too much?
WOW, ACA 0-125 per month. Guess the rest of us working are paying to subsidize it. Gratz. Affordable for the people who don't want to work, not for the working though who pay the taxes to make it work. Couldn't watch the rest after that slide, sorry.
Plus income from the part time gigs blog etc. Means this person is earning an income and drawing down smaller amount from investments. Its what everybody does just with a shed load of investment wealth.
I retired at 28. I was single. Guess what? When you don't have a real job, women and even worse, their parents, look at you like you're a crazy gambler not marriage material.
Thanks for watching.
Curious what you decided to do? Did you decide to go back to W-2 work? Start a business? Or adapt in some other way?
@@CampFI This brings me to problem number two, at least pre Obama care. If you, your spouse, or both, get seriously ill such as cancer, you need health insurance, the kind that a major employer provide. I had to return to work.
He already had a house, a family and a wife who supports the retirement. It's might be a good prerequisite to mention in such speeches.
@@AleksejTrefilov I am not only directing my comments at him, but to anyone who watches his video. I've had a helluva life.
You can always move to other countries that have free healthcare... Canada, most European countries etc.
How the fuck did he go from earning 80k per year to having a 1.1 million portfolio after just 10 years of working?
I guess together they earn 150k and had good time when they bought stocks?
I retired at about the same time as Justin & have been following his story since 2014, he has everything detailed on his website as far as his salary & annual investment amounts per year in a post named zero to millionaire. Yes, the portfolio is from investments of the income of him & his wife. Also his wife worked for 3 years after he retired, so technically he was a stay at home dad of a family living on one income during that time. But it still quite an accomplishment for them to retire in their mid 30s with 3 children by a high saving rate & investments based on 2 fairly average salaries.
This guy's story is so incomplete that it can't and won't help anyone. This is laughable. 33 years old, huh, wait till the shit hits the fan, and it will in around 10 years. Then you'll look back at your life and say, I screwed up, how do I right the ship? Remember this day, it's going to happen to you. 1.1M, that's a joke. I am 61 and have made 7MM. It takes real money to live and 1.1m doesn't get it done.
I rarely comment, but I think I need to in this case. The setup works for him for 9 years now. He already had 3 most important areas covered: a house, a family and a wife that is on board with his decision. He chose to spend the time to raise his kids full time, while letting the passive income take care of modest finances. He also mentioned that while retired he still makes about 30k doing odd, low stress gigs.
Average lifetime health spend for an American out-of-pocket is 500k (maybe 600k with inflation). Also in his presentation he described standard tools that were used that everyone can adjust to their needs. For example, if someone needs 100k a year, that would require a portfolio of $3-4M.
Finally, for your case. Congratulations on $7M. However, you make is sound that even that is barely enough. Maybe out of fear. Or maybe out of bitterness that you could've retired much earlier. Your amount equates to over $200k a year to deplete it in your lifetime if it was just sitting in cash (and in any fund it would sustainably generate $200k a year easily).
His goal (and of many others) is not to need to work to live, but be free from 9-5.
Thanks Aleksej for watching and commenting.
@@AleksejTrefilov well said.
😂 and yet it has and is... working!
Some thoughts on your situation. You state that you have retired early(age 33). But then you state that you are earning about $30,000 per year. So you are not retired. You show your increase in net worth has almost tripled over the last 10 years while you "were retired". This period was one of the longest and best stock market bull runs in history. Run your numbers if you had retired in 1966. What about college savings for your children. You didn't mention that. Even though it has worked for you, I would not recommend this for a 33 year old unless he/she had around $5M of investments/net worth.