FIRE (Financially Independent Retire Early)

[03cobra#2]

Recently finished paying off my house and cars so $0 debt now . Portfolio took a bit of a hit but not too bad. I'm 46. Next Goals are reaching financial independence so I'm not tied to a job and work when I want to. Second goal is the purchase of a vacation / lake house in my state / area (Ohio).

Would love to hear from anyone who is close or at FI. Share your story.

 

[Zemedici]

Recently finished paying off my house and cars so $0 debt now . Portfolio took a bit of a hit but not too bad. I'm 46. Next Goals are reaching financial independence so I'm not tied to a job and work when I want to. Second goal is the purchase of a vacation / lake house in my state / area (Ohio).

Would love to hear from anyone who is close or at FI. Share your story.

Goals

Congrats man

 

[03cobra#694]

That's great. Not really early like you. I can bail anytime now and have been able to, pushing 64. All our stuff has been paid off for years. Just waiting for 65 for the medicare, and I'm still making serious bank. I'd have to find something to do, as I'd get bored as hell bailing at your age. My dad retired at 52 the first time, and had two more jobs after that to keep busy.

 

[Coosawjack]

Do it as soon as possible......you'll be surprised how old age reduces your ability to do the things you take for granted now.......DON'T PROCRASTINATE!!

GOOD LUCK!!

 

[03cobra#2]

Not ready to bail yet lol but I would love to be done by 60, maybe take my foot off the gas pedal a bit at 55.

 

[VegasMichael]

Packed it in last year. Mid-50s.
Full pension, sold my house this past Spring for almost triple what I paid.
Have had retirement accounts since the 1990s and fed them religiously but won't ever need them.
Currently have no goals which makes me more uncomfortable with each passing day..

 

[03cobra#2]

Packed it in last year. Mid-50s.
Full pension, sold my house this past Spring for almost triple what I paid.
Have had retirement accounts since the 1990s and fed them religiously but won't ever need them.
Currently have no goals which makes me more uncomfortable with each passing day..

Buy a car or 2 and start tinkering with them.


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[VegasMichael]

Buy a car or 2 and start tinkering with them.


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I should get a Hellcat Redeye and have GNBRETT counsel me on what mods to do.

Seriously though, I have to get a house first before cars. Right now I'm renting a second floor townhouse with a single car garage. Honestly don't know where I'm going to go or what I'm going to do. I want to get a job though. Just don't know what in though.

 

[03cobra#694]

I should get a Hellcat Redeye and have GNBRETT counsel me on what mods to do.

Seriously though, I have to get a house first before cars. Right now I'm renting a second floor townhouse with a single car garage. Honestly don't know where I'm going to go or what I'm going to do. I want to get a job though. Just don't know what in though.

When I finally bail. I'm going to try and get a part time deal at the local Ace Hardware or something. No nights or weekends.

 

[03cobra#2]

When I finally bail. I'm going to try and get a part time deal at the local Ace Hardware or something. No nights or weekends.

That sounds like a great idea. I'm currently a sales manager at a car dealership so I think my intermediate step to retirement would be to go back to selling cars but work strickly Monday-Friday by appointment only. Or Local hardware store part time lol.

 

[03cobra#694]

That sounds like a great idea. I'm currently a sales manager at a car dealership so I think my intermediate step to retirement would be to go back to selling cars but work strickly Monday-Friday by appointment only. Or Local hardware store part time lol.

Sounds like me, head sales and VP, only I'm on the construction side here. No more of the sales shit for me. lol. I had thought about maybe Home Depot, but that might be too corporate for me.

 

[DSG2003Mach1]

Im 40 and a long way to go on all that but I have a good start on it. My house will be paid off end of 2024 and outside that I dont owe anybody a thing. Waiting on my first ice/water vending machine March/April, if those work out decent I plan to have anywhere from 10-20 of em scattered around CFL. That would be enough to live quite comfortably whether I decide to go get some BS job or not.

 

[VegasMichael]

Im 40 and a long way to go on all that but I have a good start on it. My house will be paid off end of 2024 and outside that I dont owe anybody a thing. Waiting on my first ice/water vending machine March/April, if those work out decent I plan to have anywhere from 10-20 of em scattered around CFL. That would be enough to live quite comfortably whether I decide to go get some BS job or not.

What type of places are you going to put the machines?

 

[robvas]

Not sure if I spent more on cars or the bar in my 20's I'd be all set by now if I just sat at home and played board games!

 

[black4vcobra]

Good for you. I wanted to be on that track, and I'm doing better than most, but circumstances and timing of life events has seriously hindered every part of the process. Graduating college in 2008 being one of the bigger problems.

 

[DSG2003Mach1]

What type of places are you going to put the machines?

they give you some guidance on local demographics, daily traffic count etc.. I think I'm going to try and balance that with locations that have a lot of day labor activity as well. Ultimately I'd like to try and get some out by the beaches where I can probably get a much higher per vend price.

 

[GNBRETT]

City I worked for give me free medical and a paycheck till I die..... IDN why more ppl dont get government jobs with pensions. Its easy work to.

The pension is like a lottery ticket that keeps growing with a COLA. A pension is worth nealy a million dollars. Retired at 49. No debt. Everything paid off.

Little bored in retirement tho might pick up another LE job when I get to Tennessee.

 

[DSG2003Mach1]

City I worked for give me free medical and a paycheck till I die..... IDN why more ppl dont get government jobs with pensions. Its easy work to.

The pension is like a lottery ticket that keeps growing with a COLA. A pension is worth nealy a million dollars. Retired at 49. No debt. Everything paid off.

Little bored in retirement tho might pick up another LE job when I get to Tennessee.

that is a plus if you can put up with the politics and bureaucracy

 

[VegasMichael]

they give you some guidance on local demographics, daily traffic count etc.. I think I'm going to try and balance that with locations that have a lot of day labor activity as well. Ultimately I'd like to try and get some out by the beaches where I can probably get a much higher per vend price.

I was thinking maybe campsites or marinas as well. Are you renting or buying the machines? Will you have to pay a percentage of sales to the vendor company and the owner of the locations you place the machines at?

 

[DSG2003Mach1]

I was thinking maybe campsites or marinas as well. Are you renting or buying the machines? Will you have to pay a percentage of sales to the vendor company and the owner of the locations you place the machines at?

campsites and marinas can work but there's a balance there - you need to be visible to street traffic as well so you have more consistent sales volume. Killing it on the weekend and nothing during the week doesn't work so well. I want a daily average of 50 10lb vends/day

The company Im using I am buying and own the machine, the only ongoing payment to them is the online portal to monitor the machine. Yes, you would pay either a flat $ or % of gross to the location.