# Retiring young



## TxGypsy (Nov 23, 2006)

I determined about 10 years ago that I was through chasing my tail and that I wanted to retire. At that time I determined that I wouldn't be able to afford to retire if I were paying for a place to live. I knew that if I were paying rent or a mortgage that I would have to continue to work.

When I first semi-retired I started work camping. I bought a portable dome and traveled around the country living in beautiful, often remote, locations and working in exchange for enough money to live and a place to set up my dome. Not at all a bad way to live, but kind of hard on an avid gardener. I used this time to finish getting rid of the tiny bit of debt that I had left. I also began to intensively manage windfalls and surpluses. When you are living for free, you can stash away a lot of money quickly. Also, I wasn't paying for a storage building at this time. If it didn't fit in my small SUV or the trailer I used to tow my motorcycle....it got sold or given away. This also helped me resist buying things.

I ended up selling several pieces of property and received a pretty good windfall all within a year and bought my current place. I searched the whole country carefully with several criteria in mind. It must be in the south and in a climate favorable to raising my own food. Taxes and utilities had to be reasonable/cheap and I needed to be close enough to a town with the necessities so that I wasn't spending a fortune on gas driving back and forth. I bought a very nice house, and workshop on 7 acres and paid cash.

Since buying my place I have been investing in the future 'cheapness' of it. I'm spending money now to save even more money in the future. I replaced the A/C unit with a bigger more efficient unit. Also, I had an additional foot of insulation blown into the attic. The ladies at the electric coop are always commenting on how small my bill is  I've also invested in 2 water storage tanks for a total of 3100 gallons of water storage. Once it is set up, I won't have another water bill. I have extensive food storage and a large collection of heirloom seeds. I am taking what extra money I have now and spending it with an eye to reducing my bills down to the ultimate minimum. If the stock market goes completely to heck, I could probably pick up cans or something similar to pay for my bills once the water tanks are hooked up. My bills at that point will be about $100 per month.

I am planning for having no money. The chances of that are pretty slim, but I have learned to prepare for the unexpected. What this translates to in the present is that I have quite a bit of extra money. I am now in the position to indulge myself! Now that I have gotten rid of an ex that was an absolute leech, I am amazed at the surplus.

Anyone can retire young....if you put your mind to it and are willing to do what it takes. I find it is the people that 'must' have certain things that are unable to accomplish this. I'm 40 and I've been semi-retired for 10 years and fully retired for 5.


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## Ramblin Wreck (Jun 10, 2005)

Planning for one does make it simple, and the only person to curse if you don't get where you are going is looking right back at you in the mirror. Best wishes with your garden and other projects.


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## speedfunk (Dec 7, 2005)

This sounds like same exact investment strategy I have. Invest in things that lower operating expenses of living. I just sold my car and now only own a bike. Its great option depending on where you are. I commute the few times I need to 15 mi each way. I'm hoping to car pool if/when weather gets bad.

I've read up on some people that invest their money into these complicated stocks/ira/tax deductible/mathematical , almost gambling money system hopeing to gain 8% payback. Then HOPING some crazy revalue of the dollar does not happen. Seems to me if you have your bills like yours 100/mo. You can do pretty much any thing to make that. Nice job!!! 

Care to share how you got to this point?
BTW that sounds like a pretty awesome life your living, going around in a dome and exploring. Good job!


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## jwal10 (Jun 5, 2010)

Yep, I figured when I had to retire early at 36 that the only way we would make it was to keep the money we had in OUR pocket. It is all about what I save not what we make. We live very cheaply, eat well, live well but there is a lot more to life than money. We downsized and are happy with what we have. Take good care of what we have and it has lasted well. Most of what we have is family hand me downs. Right now we live off a 16 hour a week job and some little construction/handyman jobs. All the rent from rentals has been put back into building more. We have a nice nest egg but why dig into it when we can live well with what we have....James


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## farmerDale (Jan 8, 2011)

I am 36 years old. I suppose if I wanted I could retire if I sold everything I had and paid off my debts. IF I were single without my 4 kids!!! 

Kudos on your planning. Some people want to retire, some really don't believe in it, depending on what they do. As a farmer with two young sons, I probably will never really retire in the sense that most would define it. Heck, I feel retired. I am doing what I love, it is hardly work. If I don't feel like stacking hay, seeding a crop, or fencing, I really don't have to! lol At a cost though of course... I also feel it is part of lifes importance to do as well as you can with what God has entrusted you with, so that you can then share and spread some of that blessing around. For that reason, I am not ready to retire, as I would not have as much generosity to share, as I believe we will have in the future.. I have always dreamed of travel with a twist. Travel to other countries and help them build schools, help them build orphanages etc. So for us, we still have a ways to go to amass enough to look after not just ourselves, but others in need. I feel it is what my purpose on earth is. Always have. I do not mean this is what we ALL should do, I mean it is what I feel I need to do. 

I so agree with you on so many points, especially on the fact people generally feel they have "needs" and use credit perilously to appease them. Those of us who know better (  ), know they are mere WANTS. And that is exactly what I feel is the difference between self sufficiency/retirement, and people who "can't afford to"..

Enjoy your retirement, and again, good for you!


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## cedarvalley (Feb 28, 2012)

Way to go. Lots of people now days with the big house, 2 new cars in the garage, the so called american dream, are deep in debt and are slaves to their possesions. I was always taught its not what you make, but how much you keep or dont spend. Sounds to me like your on the right track.:goodjob:


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## Slick (Jan 27, 2012)

I thought I retired early at age 49. Purchased 6 acres 15 years prior -- land paid for, sold house in city and built 1600 sq. ft. house in country took 5 years. Nothing owed on it but taxes. Raise a few hogs every now and again to fill freezer. Love retirement. Coasting till the lord calls me home. Present age 63 may have 12 to 20 left never know. Do what I want when I want --no job no boss life is wonderful.


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## edcopp (Oct 9, 2004)

I retired young, several times.


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## lmrose (Sep 24, 2009)

We retire every night when we go to bed and are back to working in the morning when we get up! Farming or homesteading means there will always be seasonal work with planting and year around work if you have animals.
What I like to say is we gained our freedom from a paid work place ten years after we signed an agreement with a bank to borrow money to buy our little farm. After the bank was paid we never have had a steady job since! My husband was fifty and me forty-eight when we paid our debt off. Our only regret is we didn't meet younger and get independant sooner. If we had started in our twenties we would have saved instead of borrowing to buy land and built a home before building codes had such a strangle hold on people. But retirement? What is that?


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## rxkeith (Apr 13, 2009)

good for you txmex

you don't need a pile of money to retire early. it helps, but its not necessary.
key thing is don't have debt. as long as you have debt, you gotta work. when you are able to reduce your living expenses to a bare minimum then you eliminate the need to have to work. i am semi retired at 52. haven't worked full time for 5 years. wife and i split a full time job. we get to spend a lot of time with our son. we homeschool. we are working at lowering expenses. learning how to operate the chainsaw, and make wood to heat the house. learning how to do some things ourselves instead of paying to have it done. we barter when we can. we are doing dave ramseys financial peace university which i recommend, even if you don't have a pile of debt. its a good way to get a handle on what you spend.


keith


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## notiller64 (Jul 3, 2002)

Just curious, how do you all handle health insurance?


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## TxGypsy (Nov 23, 2006)

notiller64 said:


> Just curious, how do you all handle health insurance?


I do things differently from most folks. My doctor is a Naturopath. I got tired of MD's trying to kill me :nono: I do spend some money on herbs and supplements, but I enjoy much better health for less than what I spent on pharmaceuticals w/insurance. I'm hoping that I have started early enough in life that I will enjoy good health for the rest of my life.


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