My Plan To Retire At 24
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- Опубликовано: 28 сен 2024
- In this video, I will share my strategy for retiring in my twenties.
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pin this so everyone sees it!
Don’t worry Nate. We know the true Nate ❤️🙌🏼👌🌹👏🇺🇸🙏🏽
How old are you please?
I’m 45......
noted but i definitely appreciate this video! i feel like i’ve been having the same thought process as you without the specific numbers yet for my current circumstance only but i figured seeing/showing examples of it would help out a lot to understand more. i appreciate you doing so a bit in this video as well and please include more so we can follow along!! :))
Me: Watching all the ads so Nate can retire at 24
Im dead 😂😂
*Frantically refreshing*
hahaha
Epic 😂
Me: getting RUclips premium so I don't have to watch ads and still help my man eat
Early retirement is the dream. I refuse to accept that I have to be at the end of my life to enjoy time freedom. Let's hustle to financial independence!
FIRE
FIRE MOVEMENT BABY! I made a video on it last week, feel free check it out
Retirement gets pretty boring after a few months. Being able to work on your own terms feels better to me. I still want to make money, build things, grow, and learn. Sitting around collecting rent isn't that interesting.
lets get it!!
Opportunity is out there for all of us! 💎
True Abundance ⭐
Amen to that!!
I am 18 years old and kinda lost, but I’ve been binge-watching all your video for a few days. Thanks a lot for all the help and inspiration! ❤️
I am 20 years old and I want to retire by 30 years of age, you’re an inspiration Nate for me setting up my channel to show my progress and tips, really inspiring video, thank you @Nate O’Brien😊
Jake Hooley I’m 19 man. I also plan on achieving Financial independence by 30 and maybe start working from home running my business by 22
It’s possible! As long as you’re committed you can do it mate ✅
Nice one @Josh V, good luck man💪
Thanks Marzell Money!👌
Lol you’re diluting the industry for him. Making it harder for youtubers to make money when there are so many of them now
The FIRE movement is alive and well! People don't necessarily want to stop working, but more so to have the CHOICE if they really wanted to.
Always negotiate from a position of strength.
Hi. What is the Fire movement?
@@amourtoujours779 Financially Independent Retire Early
@@amourtoujours779 Yep, just like ^ Jacky said, it's an acronym that stands for Financial Independence Retire Early! It's a movement that emphasizes living substantially below your means and investing a large chunk of all the money you make. By doing this, you will accumulate a large nest egg much quicker and will be able to retire earlier if you desire!
Someone commented on this recently. Live frugally to stop working to live frugally. Sounds like fun, not. Besides all, the people I hear about in the 'Fire movement don't retire fully in the traditional sene. A lot of them write a blog with adverts and affiliate marketing links. So still making money working just not a traditional. 9-5
"Retirement is when you stop living at work and start working at living" -Unknown
Thats wise
I wrote that
I wrote that
Not really. Many people are really passionate about their jobs so yeah good for them but if you dont then this quote applies.
Well put!! It’s the time when we show up because we want to, not because we have to! A lot more fun✨
Hey Nate. Really like the concept of this video. My goal is to retire when i'm in my early 30's (26 right now). So right there with you on your mindset. But I would appreciate it if you made a sequel to this video explaining HOW you are going about it right now. Most of the video was conceptual which was fine. But I think an in-depth version on your actual "plan" would be informative and relatable to all people who are trying to retire early. Thanks!
You're basically talking about FIRE (Financial Independence Early Retirement) which I started doing myself recently and had a great progress
1- Cut your spending
2- Maximize your savings
3- Utilize the savings in creating passive income
I'm quite sure hes aware of the FIRE movement
I plan to retire at 50 or earlier. Currently have 2 rentals, stocks, my own property management business, and a full time job ( 4x10s). I have Friday,sat, and sun off which leaves me time to pursue my freedom.
With that amount of assets, I'd be set for 400 years with my current lifestyle.
That's so on point!💛Fun and money both on alignment ..
I'm 27 and I'm only now making steps to retire. Thanks for the inspiration, I appreciate it
I, too, have a plan. It is to retire at 12.
same @ 9
Question is, the idea that comes with it?
You must be from Dubai and your daddy sponsor Instathots to fly out for the weekend to shit on their chests
@@killerontheroad280 how did you know?
Kill parents. Collect insurance money. End up in an orphanage. Profit?
Sometimes society makes it seem like retirement is only for older people, we’re taught to get a job work for like 40 years then retire, when actually there are other options, this was refreshing, love it
For some reason I am big advocate of financial freedom and doesn't really understand/agree with retiring early. I get you need not to rely on one source of income, but maybe the definition of retirement is different for most people and I don't agree with how most people define retirement. That said, Nate your content is amazing and I wish you more growth and success for doing what you love!
He starts the actual advice at 9:30. You're welcome.
Thanks Josh...He sure talks a lot about nothing. All fluff, no substance. This is a total clickbait video.
What happens when you find a Girlfriend/Boyfriend? Life partner. Seems like a hatchet would get thrown into your plan.
Oh yes it will lol we never see that shit coming
You cannot retire in your 20s if you plan to have a family, unless you're a trust fund baby.
Getting groceries at 10am on a Tuesday. That's my go-to saying when I talk about featuring asap and being financially independent and have time freedom.
I wish I had started thinking like Nate sooner but never too late! I'm 24 and I just brought a house for passive income purposes. My plan has been to grow my wealth by maintaining or decreasing my expenses as my income increases. I live in NYC but am really cautious about my spending and released a "how to save money" video a few weeks ago (inspired by Nate). Saving and investing are key! It's all about making the right moves in order to set yourself up for freedom and financial independence. I plan to retire by 30 :) And I'll have more time to spend on causes I care about instead of a job weighing me down.
I’ve been talking with my dad a lot lately about wanting to be able to retire no later than 30.
He’s worked his way up at the same company for 30 years & has another 10 years until retirement. He works from home now and travels a lot, but only after 30 years into his position does he have the flexibility for it.
I told him I can’t see myself being stuck at the same place for that long waiting for life to start at 60, but he’s stuck under the impression that there’s no way around it. 🙃
I’m afraid of not being there for my kids all due to my job!
having the ability to make your own schedule it's an amazing and very fulfilling sentiment. I guess the idea behind is to work when you feel like it not necessarly stop working all togheter. Most of us probably would want to volunteer to do something meaningful but feel kept inplace by a job that doesn't fulfill them just pays the bills.
For myself, eventho I have a job, i still schedule my day in a small notebook and it does bring me small bits of joy knowing that I've completed tasks that I set up, not someone at the office.
So happy you're uploading again! Your videos are truly inspiring. Keep it up Nate!!
Investing in yourself and creating multiple streams of passive income along with saving money by going to community college would definitively allow you to retire by 24!
I’m still looking around for those sources of income. Financial aid is a count I guess, but it’s only for each semester
I would be bored stiff. I have been looking for a job I really love and I found it. For me it's not a problem at all to work until my retirement.
For everyone ouy there, keep following your dreams, stay positive, be consistent, may you all be succedful!
Thank you 🙏🏻 you too 🤗
hey Nate it's really inspiring to know that you have the courage to override and defy society's game plan that's really quite unique.
If you want something bad enough, you will achieve it. Good for you Nate ! I woke up to this a little later in life but will still stop working for a paycheck in a few years. Then it's doing only the things I want to do and never have to worry about money.
One of my best friends here and I discovered we're both quite Mustachian and we're both engineers. He got laid off though at the beginning of the pandemic and was out of work for a few months. As gungho as he was about FIRE before that, he quickly became 'bored af' and eager to work full time again, even though he did woodwork, scuba diving, camping, you name it, and is satisfied in his love life. He found a new job though and seems to think developing the frontend is quite simple and leaves something to be desired.
The point overall in the case of my friend, he seems to have learned that what he previously thought he wanted is not what he actually wants now, but would be a path to boredom. So finding something to do you like is important, that might only come from experience and not research. And that's controversial, I think Call Newport among others says passion is overrated, and you like something by getting better at it. Maybe it's a personality difference, I don't think I get bored as easily.
Spilled thoughts but I'm still figuring it out. Retired at 24 and just watching TV all day would be lame AF but being say a contractor who helps 6 month out of the year could be a compromise, and that's not exactly being retired.
And while I'm at it, the best investment in my opinion is large tracts of land. Land is a buffer against worst-case scenarios where the stock market plummets 90% in a single day and your earnings STILL can't keep up with housing costs. Land has intrinsic value and can almost always be converted into arable and/or grazing land. Very VAST tracts of land can be continually subdivided into smaller plots, so your children and grandchildren can live independently. This actually attracts more wealth right off the bat because honestly the kids are more likely to entice a high-income spouse under those conditions. Most high earners live in cities but people naturally prefer a more bucolic lifestyle. If they get a dowry of a few free acres that offsets their commuting costs.
Simply amazing! Planning intentionally for financial freedom and then taking concrete steps to make it happen is so important 😎👍🏞💰
Assuming linear growth of value is kinda idealized, since as you mature in the workplace your time becomes worth more, and so people give you more value points as you progress. You could probably make a model that accounts for this.
23. Got a credit card not too long ago, finally opened a Roth IRA, and now have 1k in Robinhood starting my dividend growth portfolio. Wish I started earlier but I think I’m omw
The goal is having a job that you don’t want to retire from
My mindset exactly!
That's what capitalism taught you - BRAVO
Not many people are lucky enough to find a job that they love that much. For most of us, even if your job is fine, it's still a job, and there are still days when you wish you didn't have to show up. And honestly, I don't think there's anything wrong with that. There's more to life than jobs. To me, the goal is to find a job you generally don't mind doing and that pays you adequately and then build up your life outside of work (for instance, maybe by exploring early retirement).
Aaaah young idealism. Gotta love it!
"Fun" jobs dont typically pay much though
at 22, i thought i was too old and behind the ball to start a retirement plan LMAO i was smart enough, but not informed enough; the information wasn't as readily available as it is today. i also didn't make enough money at the time and didn't even know a way to make the kind of money that would enable me to strategize more than one year into the future. now i'm in my 30s. i'd gone back to school and gotten my bachelor in business administration last year. and with my current (and growing) salary in defense contracting, enough stock market winners, and a little bit of luck, i can realistically retire inside the next decade if i wanted
Retiring young without a good plan is useless.. If I may ask what are your achievements or investments?
Exactly sir.
That's a good question.
Yes, my dear. Retiring young in this present generation will cost you to double your investments in order to achieve your goals
But we are blessed to be in a generation where we are blessed with the forex/bitcoin market. Where if you a good trader you stand a chance to achieve more
Forex?
Very eloquent in the way you speak man. I wish I was this mature at 22. Much respect. Keep up the good work. 👍🏻
Keep it up! Don't let money get a grip of you!
I cannot thank you enough for how much you have changed a lot of my perspective in life. Your video touches everyone who sees it. I usually recommend your channel to my listeners on Friday:) it’s that day again. Thanks for the video.
You are off to a good start. Wish I knew then what I know now. You have to provide small value to millions of people or provide much needed value to thousands. Good luck!
I like ur channel because u took d point of view from same perspective as others but explained it in simple and very clear sentences. Thank you. Don't change your content nate.
Funny how Tesla’s are the new iPhones in these analogies. “People want the latest...”
Great video, very clear, concise love how you break down work into units.
This is really awesome, I am 20 now and kind of lost, doesn't have goals or plans. I'd like the idea of retiring early and having a freedom for the rest of my life to do what i wanted to do. This video is really helpfull for me to start jotting down my plans. THANK YOU!
I like that definition of work - adding value to survive. Changes the perception on what we are all doing.
Me, a 26 year old: crying
Relax dude you'll be fine, I'm 31 (and on Monday 32) :D. I've been in investment banking, entrepreneurship, martial arts, fitness & and yes also wasted ALOT of time. Take your time and experiment. Be hungry, but stay humble :)
Same here man...
Why?
I'm one of the biggest fans of the quality of your videos.
Retirement age is not specific in such a way as you claimed - at the very beginning of this video. Before you were born the age was 65. Mine is 67.
it all depends on how you define 'work'
Help me understand... I get that reducing my spending and being frugal will help me save towards retirement. Many videos I see that speaks of financial freedom gives me that vibe. But if I live a super frugal life by not going out doing things and not spending money on things because they are not necessary... I personally feel like it's not truly living. I'm just surviving. Am I wrong to think that way? I personally have many hobbies that bring lots of joy to my life, but they cost money. I can't imagine living a life not doing those activities. Does that mean I will never achieve financial freedom?
What a smart kid! Wow you are so mature for your age. Very very focus. This is pretty much the message in the FIRE Community. Thanks for the inspiration.
I wish you all the best with it. You seem a good guy, with solid knowledge and the drive to do it.
I plan on retiring when I turn 12 - started saving and working when I was 6
LOL
I agree with your idea, but I don't think it's realistic, especially for the average person. There are still ways to make money and do what you love untill your 50s or 60s and then retire. There are also loopholes you can find, for example my dad works the weekends at a humanitarian job, but he does 4 shifts and gets payed for 5 days. He makes almost 6 figures and has 5 full days to be free. This is the kind of life I would like, but I know il need to work 3 or 4 days, because I will have something I enjoy, where money isn't the top priority. It's all about planning and executing your dreams properly.
You have such wisdom at your age is unreliable !
Hope you continue creating videos after you retire
I got your point, but still missing something in the national park example. Look if national park salary wouldn't be satisfying for you, then you would look for ways of improvement of the park services and have a better salary as a result. I wonder if going as a park employee with money you would be as much pushed to do good things as when you were in need of money?
I love my job, (I’m a bricklayer and Allied Craftsworker in the BAC Union). I’ll make a lot of money, but I have to work at-least 10 years to get my pension, I get a larger sum in my pension if I work 20 years and the max if I work 30 years, and then I can’t collect on that until I’m 58. I will also have a massive Annuity if I work the full 30 years. I will be investing a lot of money along the way, and I am going to continue to work toward F.I.R.E. We will see!
Human needs to do something only been at home is stressful,
I understand that with this lock down, off course doing the same all the time is boring too. One thing is true money is freedom because if you have free time without money you can't enjoy.
Love seeing something to have a life of freedom this is what I want to implement in my own life
I am 56. If I knew when I was 20 what I know now, I literally would have retired at 30. Number one is get a live-in job so you have no car or living expenses. That will give you a nest egg. Buy land to develop, there are always people willing to loan and or guide you. In the past 3 months I have learned to trade- started out with my $1000 tax refund. Now I make the same as my old job. It was very hard intense work and I still have far to go. With my lifestyle I still put away 1000 a month. I am now getting one, maybe 2 roommates, I have the room and the 'free' money is worth it. Working for hourly pay is NOT the way to go if you can avoid it!
6 to 10 percent roi is possible is possible from property rentals , for example building a trailer park can be cheap relatively and you too can live there rent and mortgage free in a nice park home and collect a decent pension from rents .
Great video 👌🏻 very unrealistic to think of retiring by 24 but if you apply this way of thinking to try to retire by , let's say 40, then it may work
I'm afraid of getting into stocks because I don't know about taxes or what hidden thing I'll forget and have to pay later
Do your research then. Taxes vary between states, and also whether or not you take profits immediately or you hold your investments for 1 year or longer, then your tax rates are significantly reduced.
Your computations all makes sense. Very easy to understand. But how do you jack-up your value to 400% at 22? That would be more interesting to know--it's what I was actually expecting from this.
Agreed. We live based on the teachings of society. I think it’s done that way so the gov gets more taxes. Less workers = less taxes. Just guessing. My dad was from the Great Depression era and being frugal, penny pincher, live below your means does NOT mean you can’t be wealthy financially. On the opposite. The more I cut back, the better I live and when I see that one luxury I want, I can actually get it.
It's clear that nowadays, compared to prehistoric time, we have less time off from regular work. Society has evolved in a way that takes more and more away our freedom. Nowadays we add more value to the system which gives less back..
As a new RUclipsr and Investor I appreciate this advice! My doggo approves!
That is a great plan! I think a lot of people are not thinking nearly enough about the long-term in order to really make their life a lot happier. I also make finance videos.
This video is probably going to blow up in views
honestly if this guy makes a podcast i'd commit my whole life listening to him. theres so much knowledge and info in what he says. king.
Im 26 and far from retiring and do not think will ever retire as breadwinner of the family. Cheers to those who have freedom and control over their finances and goals. We are in one of the darkest time of our lives and it is truly hard to take care of finances but we'll get through it. Goodluck, everyone.
"This RUclips channel helps pay the bills" lol yeah I'm sure over 10k a month helps pay the bills bro........ no hate but not realistic
Nate, I have been watching your videos for a while now, and I still can’t figure out what you do for a living? Or where you started your path
Upload a video of what you do in a day 😀
Nate's already a grandpa figure so it makes sense he's ready to retire lol
Hahaha😁
Ha ha! Funny how tv portrays old people as the only ones retired 😁
What does retirement means? If you enjoy what you are doing, does retirement applies?
It probably applies to people whose focus is not on what they are doing now, though.
Take it from me, I “retired” 2 years ago when I was 52, and I was then enjoying an employment with a good pay and good challenges, meeting people everyday. I decided then to retire to do other things, which mostly is all about having free time to focus on hobbies.
But then my dear, after 2 years, I have done all of that.. and am now asking what is there more to do. I begin to miss my job...
In a nutshell, I am sharing here, to never retire if you are enjoying what you do. If you don’t enjoy it, and don’t have a choice to change that, then perhaps you could make a retirement plan .. at the end of the day, it is all about making useful of your time and money.
Good for you bro, I'm 30 and haven't worked since I was 20, other than managing my stock portfolio
Nate is wiser than many people who are much older than him
I think it would definitely be possible for me to retire early, maybe by 30, with good budgeting etc and a good job, currently I'm 22. Although, surely life is more complex than that? If I was to start a family, well that's a pretty hefty expense so I don't think retiring that early would be feasible
I'm more interested in your plan after your retirement.
Nate, very smart to use 3% over 4% though as you mentioned there are still big issues with the idea.
I like that you are trying to impart some knowledge and assist others (and you are obviously a very intelligent young man) but would be good to hear specifics, I was 5 minutes in and didn't hear anything new or helpful. I stayed on to see if the good bits were coming but I'm still waiting. I've heard of the 4% , F.I.R.E etc I haven't seen any of your other videos so maybe if I followed there would be some gems in there.
Love your charts Nate! You did however misspell: "EXPEDITED" 😳 I have been "providing value" for the past 30years as a Math Prof while incorporating writing, so I spot math & writing errors very quickly! 😁 And I love what I do. Your idea of "hybrid retirement" is perfect and exactly what I'm trying to do BEFORE age 60 so I can move onto my next fun career. Your advice is TERRIFIC and I get lotsa wisdom from them. As a matter of fact, one of my Math Students introduced me to your channel! Hope to see you in a NSP someday...where I also hope to work. 🐻🦋🌿
I retired at 13
Anyone older than 24? I’m already way too late to retire at 24 😂
yall lucky to live in a country that gives you so many options to become financially wealthy so much faster
he looks 30 already, work hard but sleep a bit as well, best wishes
Love this... I don't ever comment but your videos hit perfectly
Im 20 and ill earn my first million when im 25 but i dont think ill ever retire i would just chose when and what to work on
Nate: I retired by 24
Also Nate: posting on RUclips gaining money telling how he retired😭
Nothing stopping you from doing the same thing, bro 👍
TheKillahKyla except that’s not the point that the poster made. Dimwit.
I did it twice it gets boring real fast. Even with two commas of cash. At 30 after a burnout was deserved. At 34 and being alone.
Even without the worry of finances, I'd still volunteer somewhere (between fishing and golfing that is).
Awesome video as always Nate. I'm all for the Fire movement as the progress to.
24 is a long way for some and tomorrow for others. But making progress towards a goal like that is going to be a fun ride.👏🏾👏🏾👍🏾
A really interesting idea! I honestly won't do that because after two weeks of holiday I'm so bored (I would already work on a ton of side projects and learn new languages) and it just makes me go insane. Therefore, I study at uni what I love and also work in a job that I love. Of course, I'm really lucky to be able to do that! But I think this whole "retirement as early as possible" isn't really for me because I already have the huge luxury of only working/studying the things I love the most in my life.
I really appreciate and enjoy your videos. Thank you for making this!
Oh my, that sounds amazing. I'm 31, I only worked properly for 1 year in total + 3 years apprenticeship and I absolutely hated it. This whole school - work - family - death lifestyle isn't for me, I already knew that from a very young age on. So I saved as much money as possible in this year of proper payment and went to Australia for a work and travel gap year. Now I try to change a few things in my life. I also watched your minimalism videos and sorted out a lot of that shit you collect over the years 😉 I wish I could make some money from youtube, then maybe only work part time in a job that I like without needing to earn tons of money for paying bills etc. I just wouldn't know what to talk about...you maybe have some tips for RUclips starter? That would be very interesting for me and I guess many other peeps too 😊
I am now 19 imagine getting retired 5 years later
I know £=$ is different but how could you not live if 15$ an hour the average hour pay in the uk is 9-10£ an hour and people live very happily!
I'm 24 now. Not where near retiring but I would like to be financially free and have the choice to work or not by 35.
God, the first world does live life on easy mode. I'm jelaous, truly. This is not possible over here. I spend 80% of my income on survival (rent, food, and transport). Of course there are ways to optimize it, but I'll still have to work for years and years to come. And I'm 24 with a decent degree.
Just say you are going to make 50 RUclips videos and live off the income stream. There was no detail in this video.
Somebody had to say it. lol.
That's everyone's tactic these days. "How to make me rich from my how to become rich videos".
@@randerins Yep.
I love national forests too and city life is not for me. I want to buy a small house in teh countryside. I am exhausted and wanting to retire in 4 years but cannot :- (