goal: zero to retirement in 7 years?

[rennigade]

Very cool! This is the only way an old thread should be revived...when OP comes back to give us an update.

Are those motorcycles street legal? Ive been in some national parks where the roads would be difficult to get an rv like that around. Would be nice to be able to park that bad boy somewhere, hop on the bikes and cruise around. My guess is they are street legal and that you've already thought of that.

[KTP]

Hi, yes they are Yamaha WR250R dual sport street legal (can do 70 on hwy).

The RV isn't hard to maneuver since it is a cab forward truck and only 27 feet long. It gets harder when pulling the sailboat.

[Like2Plan]

KTP,
Thanks for the update. I have been wondering how you have been doing. I love the pictures. It looks like you are well fitted. I was wondering what you will do with your RV when you sail around the world? Does that go into storage somewhere?

[DaveInPgh]

Pretty cool. Congrats.

Would love to see the inside of the first pod

[tripods68]

Very cool! This is the only way an old thread should be revived...when OP comes back to give us an update.

Are those motorcycles street legal? Ive been in some national parks where the roads would be difficult to get an rv like that around. Would be nice to be able to park that bad boy somewhere, hop on the bikes and cruise around. My guess is they are street legal and that you've already thought of that.

I believe you lose the bet to KTP...Pay up!


Congrats! I remember this thread in 2009 after the market collapsed. I thought it was unrealistic based on the current market condition at that time.

This shows that having a detailed plan, execute, and willing to sacrificed at all cost can make it a reality.

[snafu]

thanks for the photos. I hope you'll check in quarterly to let us know the good parts and frustrations of retirement. What did you do with all the stuff from recently sold house? I understand boon-docking and living off the grid but how do you manage income taxes and managing finances/financial decisions? Medical ? Where will you winter-over?

[sv2007]

Can we do it? I mean, assuming we manage to cut spending and actually save 70k a year, will the above strategy net us 50k a year from age 45 to 62? I guess aside from the I-bills, a lot would depend on the stock market recovering over the next 10 years. Although ideally it would wallow around at low levels for the first few years while we are dollar cost averaging into it. Any other saving or investment strategy that might be a better way to go?

Alternative strategy: win lottery, find rich uncle.

There're lots of calculators out there that'll help you figure it out. I'm writing a retirement simulator that may help you as well; it's a hands-on thing that simulates the first 10 years of retirement and your actions. Probably will release it in the next few days.

The key is your lifesytle and how much it'll cost to maintain. And remember to figure in inflation (it's easy to forget, but historically it's about 3-5% depending on where you live).

We retired early and here are a few things you might want to keep in mind:
1. health care is a big expense and worry (you worry because it can change with politics and accidents -- eg long term care).

2. most tax deferred accounts aren't accessible until you are really old; so you must rely on your taxable svings. There may be significant changes to this area and you may not be confident that you can correctly manage the new changes (i.e. to generate the expected return due to investment changes)

There're more - like living life a lot more carefully, many expenditures above planned, etc.

[DaveInPgh]

There're lots of calculators out there that'll help you figure it out.

You must have missed the date of their original post. They figured it out.

[sv2007]

You must have missed the date of their original post. They figured it out.

That's good.

As an early retirement person, there are so many things that people don't expect. You really need a lot of money to retire early and comfortably. The company provides so many benefits that I never thought I'd miss much until I retired.

[MonkeyMama]

I would suggest setting a goal, even it is 7, 10, 15 years out. A long term goal lets you make important decisions. Short term goals are important (pay off a credit card in 6 months, stuff like that), but a long term goal like a early retirement date lets you see the forest through the trees.

So true. I've often felt that just writing down a goal was 99% of the battle. I think because it does give you focus. There also seems to be a subconscious aspect, for me at least.

Congrats!

[terri77]

Congrats on your success!

[97guns]

I'll have to read this thread when I get home and congrats, becoming financially independent is the ultimate goal and accomplishment