Frugal 'Weirdos' Retire at 33

[Freefaller]

I wish I was in a position to retire in my 50s but unfortunately I have lived a bit of an extravagant lifestyle in my youth and didn't save or behave sensibly. I clawed my way out of that reckless behaviour but took me many many years to get myself debt free and in a more comfortable way of life.

Now, I enjoy my holidays and hobbies, but also have a mortgage to pay and so on. If we are lucky we might clear our mortgage in 20 years but who knows. I'm quite happy working if it means I can afford to do the things I want to do.

If I won the lottery I'd probably invest in it and be a bit more careful, but hey I don't play and I know I have to work, so my life is now based around the fact I have to work, but now just put money aside and have secured a decent pension too.

 

[Randomface74]

I'm really trying to be able to retire in my 40s

 

[Participant]

But surly this is more reality than anything else. Retirement costs money. A lot of money in most cases as you have too fill your time. Most people simply can't retire, and if they did retire they would be trying to live on a couple of £ a day.

Some people want to maintain a certain lifestyle/level of spending.

Not trying to be an arse, but you guys didn't read this bit:

financial assets notwithstanding

I'm talking about people that claim they still wouldn't retire even if they were really rich, because they love their job too much. People always say that, until they're rich. Then they start hobby businesses.

 

[Firestar_3x]

Wouldn't want to 'retire' in my 30's unless i had millions in the bank.

Don't think i could live with myself settling for an 'OK' house etc and watching the years go by knowing i could have got myself into a much better position had i worked till i was 45 - 50, which is when i intend to pack in.

 

[Boge]

A profitable hobby?

Bernie Ecclestone has a good one.

 

[dowie]

I'm talking about people that claim they still wouldn't retire even if they were really rich, because they love their job too much. People always say that, until they're rich. Then they start hobby businesses.

Well not always, there are plenty of rich people still working and the reason sometimes is they want to maintain a particular lifestyle other times they've got certain goals or really enjoy what they do. This includes people who are billionaires even. But really plenty of people working in the city or working in various high paying professions could retire early if they wanted to yet relatively few do.

 

[Deleted member 66701]

part time student, you're full time are you not complete with student loan?

some retired people work part time in B&Q too

tis sometimes called semi-retirement if we're being pedantic - for example my mum gave up full time work and instead worked 2 days a week at a hospital and collected a pension, she was semi-retired. Now she's just retired.

Semi-retired is a good shout actually.

 

[Voltar]

I have considered something similar. Switching to academia would be marvellous. I would love to jus do a part time PhD but I am fairly spendthrift so wouldn't be able to do it.

I would like Amiga become a house husband and student- living the dream.

 

[Tunney]

I'd like to retire probably late 40's-mid 50's. Anything sooner I'd probably go a bit crazy.

Sadly, there's a link between early retirement and early onset dementia. Studying for a degree sounds like a good way to avoid that though.

 

[Boge]

Yeah. Like what would a worker bee be if a worker bee couldn't be a bee?

Drive you mad it would.

Don't do it.

 

[Hades]

There's no chance of me retiring until my mid 60's unless something radical changes. I could actually sell the house now and probably retire but I want to leave it to my kids or sell it and use it for their education. So work I do. I also earn many times my wife's salary so if anyone is to give up work then it makes sense for it to be her.

Until recently I would never have wanted to retire. But now in my late 40's I've had enough and would love to.

 

[Woden]

Sadly, there's a link between early retirement and early onset dementia. Studying for a degree sounds like a good way to avoid that though.

Didn't know this, my granddad retired very early and his dementia is getting pretty bad.

 

[danielanthony]

Unfortunately I've still got a mortgage, school fees and a desire for new expensive cars to satisfy before I can retire. Once the kids finish school Id like to move to Silicon Valley to work for a few years before retiring off the back of some large IPO...

 

[Glaucus]

Didn't know this, my granddad retired very early and his dementia is getting pretty bad.

It's 's only because when most people retire they dont do anything,
Just have to stay active mentally and physically

 

[regulus]

I retired at 35.

I wouldn't say I've lived overly frugally though - but I have made good financial decisions/investments and not done daft things like buy brand new cars, blown £20k on a wedding or had extravagant holidays etc.

Respect!

 

[regulus]

Just to play devils advocate but lots of students enjoy beers and BBQs (and, when they're not older/married, casual sex with 18-21yr old girls). I'm still not seeing how being a full time student makes someone retired - especially if you later go onto a PhD which often involves getting a stipend and doing additional work in a department/for your supervisor + often teaching etc.. too.

If he wants to stop the degree/course/PHD research TODAY, then he can. It's his choice what he does, he doesn't have to do it.

Retired doesn't mean sitting in a chair the whole day staring at a wall. Just to save yourself the risk of doing something.

 

[regulus]

Semi-retired is a good shout actually.

Yep. Change the wording because it's clearly driving some people on here crazy that someone in their 30s could afford to retire.

Next they're going to pick on your choice of punctuation or apostrophe use just to show you dammit!

 

[Gilly]

I wouldn't even dream of retiring before 50+ even if I won the lottery I'd still have some sort of vocation.

 

[Puzzled]

Well not always, there are plenty of rich people still working and the reason sometimes is they want to maintain a particular lifestyle other times they've got certain goals or really enjoy what they do. This includes people who are billionaires even. But really plenty of people working in the city or working in various high paying professions could retire early if they wanted to yet relatively few do.

For some people work / business can consume them and once you take away it doesn't leave them with much in their lives or any sense of purpose. Even with all the money in the world some people just can't stop, it's who they are.

I'd imagine early retirement would be great if you have plenty of money in the bank and others to spend the time with. If you can't afford to do anything then it must get rather dull and lonely.

 

[dowie]

If he wants to stop the degree/course/PHD research TODAY, then he can. It's his choice what he does, he doesn't have to do it.

Retired doesn't mean sitting in a chair the whole day staring at a wall. Just to save yourself the risk of doing something.

You could say the same about a Barrister earning a million a year or an MD at Goldman, they could retire if they wanted to but they're currently not retired. By most people's definition of the word someone in full time education is not retired and certainly not when they get to the point of pursuing a PhD on a full time basis + teaching.

By your definition I'm retired because I've taken a break from work and can afford to do so.