How To Retire Before You're 18 Years Old
Even if you're currently over 18, this guide will teach you how to retire in a few years. This is easier to read on the Google Document I made. There is also a great video I made about this here: https://www.youtube.com/watch?v=r6y_9qTGm54&t=1s INTRODUCTION Most people have hopes of retiring at 65. More ambitious people plan to retire at 30. But what if I told you that if you start early, you can actually retire before you're even 18? HOW MUCH YOU ACTUALLY NEED TO RETIRE (Hourly rate * Hours * Days worked - Expenses) * ROI - Taxes = Gross income Taxes = State Income Tax (5%) + Federal Income Tax (12% (11,001-$44,725)) + Capital Gains Tax (15% (Single: $44,626 to $492,300)) ($25 * 5 * 310 - 0) * 1.1 * 0.68 = $23,375 You need $250,000 to never work again, but if you just work one hour every day you only need $200,000. (25Γ1Γ365Γ0.68 = 6205) Keep in mind that this is if you make $25 an hour and don't make any money passively. If you can manage to run a business, you could make money even when you aren't technically working. (you would have to outsource the work) You can learn more about this by reading The 4-Hour Workweek by Tim Ferris. I'll have a link to a book summary in the description. Cost to live in Thailand for 1 month Airfare Free (AMEX gold card and Chase Continental Airlines card) Housing Penthouse apartment: $550 Food 5-star restaurants twice every day: $540 Education Two hours of private Spanish lessons (5 days per week): $200 Two hours daily of private tango lessons with two world-class professional dancers: $200 Muay Thai lessons (6 hours per week): $400 Transportation Subway pass: $75 Total cost $1965 CONCLUSION This means that to vacation in Thailand for 1 year you need about $25,000, but because you should also save money you would need about $30,000. Most people think that you need $120,000 a year ($10,000 per month) to life a lavish lifestyle, but in reality you only need a 1/4 of that.