Retiring @ age 23

[dullard]

Originally posted by: iversonyin
Its really not that hard to get 10% out of the market. It depend on how much you are managing

Even the best experts don't expect 10% in anything over the near future. Stocks have gone nowhere in the last 5 years and dividends are about half of what they were before when 10% was achievable.

Sure, I could show you many things that did well in the last 5 years, but those times are over. For example, I can cherry pick a fund that was started during the crash after 9/11. When the stocks returned to normal, those funds that started then gained quite a bit. But there is no reason to expect them to continue gaining now that we have returned to pre 9/11 days.

Sure, I could point you to REITs, but I don't think anyone would agree that they will continue their progress forward. Energy stocks are now on their way back down - or at least have halted their march up. Metal is at extreme highs, not like that is going up much more. There just isn't any bright spot with lots of potential.

Consistant 5% sure. 7% maybe. 10% no.


Plus, how many people really have $60k in cash at age 23? And after 60 years of inflation, will you still be able to live at $500 a month? Assuming 3% inflation, by the end of your life you have $84.87 worth of todays dollars to spend each month. At 4% inflation, you'd be at $47.53/month. And that is pre-tax.

 

[dr150]

Originally posted by: Kroze
Put $60k into mutual funds gaining an average 10% a year. 6000/12 = $500 a month.

Move to Vietnam where it cost less than $200 a month to live like a king.

win @ age 23?

Not only will you live like a king, but you'll have a heirum of "me suck you long time" ladies FTW! :thumbsup:

 

[Kroze]

actually, my uncle build a 3 story marble vacation home in vietnam for $75k including price of land.

 

[five40]

Originally posted by: Kroze
actually, my uncle build a 3 story marble vacation home in vietnam for $75k including price of land.

pics

 

[JLGatsby]

Originally posted by: Kroze
actually, my uncle build a 3 story marble vacation home in vietnam for $75k including price of land.

Liar. Marble goes at the same price anywhere, excluding shipping cost.

You cannot build anything like that anywhere, not even across the street from a marble quarry.

The labor is certainly much much cheaper over there, but quality materials aren't much different in price.

 

[Kroze]

i'm @ work

 

[five40]

Originally posted by: JLGatsby

Originally posted by: Kroze
actually, my uncle build a 3 story marble vacation home in vietnam for $75k including price of land.

Liar. Marble goes at the same price anywhere, excluding shipping cost.

You cannot building anything like that anywhere, not even across the street from a marble quarry.

The labor is certainly much much cheaper over there, but quality materials are much different in price.

I can see it now...he edits the post and puts "..........in 1948" .

 

[kogase]

Originally posted by: JLGatsby

Originally posted by: Kroze
actually, my uncle build a 3 story marble vacation home in vietnam for $75k including price of land.

Liar. Marble goes at the same price anywhere, excluding shipping cost.

You cannot build anything like that anywhere, not even across the street from a marble quarry.

The labor is certainly much much cheaper over there, but quality materials aren't much different in price.

Maybe it was more like "WTB MV Home in Vietnam, 75k, have mats".

 

[Darthvoy]

Originally posted by: dullard

Originally posted by: iversonyin
Its really not that hard to get 10% out of the market. It depend on how much you are managing

Even the best experts don't expect 10% in anything over the near future. Stocks have gone nowhere in the last 5 years and dividends are about half of what they were before when 10% was achievable.

Sure, I could show you many things that did well in the last 5 years, but those times are over. For example, I can cherry pick a fund that was started during the crash after 9/11. When the stocks returned to normal, those funds that started then gained quite a bit. But there is no reason to expect them to continue gaining now that we have returned to pre 9/11 days.

Sure, I could point you to REITs, but I don't think anyone would agree that they will continue their progress forward. Energy stocks are now on their way back down - or at least have halted their march up. Metal is at extreme highs, not like that is going up much more. There just isn't any bright spot with lots of potential.

Consistant 5% sure. 7% maybe. 10% no.


Plus, how many people really have $60k in cash at age 23? And after 60 years of inflation, will you still be able to live at $500 a month? Assuming 3% inflation, by the end of your life you have $84.87 worth of todays dollars to spend each month. At 4% inflation, you'd be at $47.53/month. And that is pre-tax.

My boss pays his investors 10% a year. There is a guy with 4 mil invested in our company and he gets monthly checks of $33,333.33 in the mail,

 

[Kroze]

those who call me a liar, you obviously has never been out of the country.


$1 US dollars = equivilant to $10 in vietnam.

a person is lucky to make $10 US dollars a day in vietnam

 

[dullard]

Originally posted by: Darthvoy
My boss pays his investors 10% a year. There is a guy with 4 mil invested in our company and he gets monthly checks of $33,333.33 in the mail.

Sign me up then. List the stock and let us all in.

 

[Syringer]

My aunt's 3 story place: http://www.pikindaguy.com/P9050006.JPG

Bathroom: http://www.pikindaguy.com/P9060026.JPG

Looking straight ahead, it's the left farthest place with the scooter parked in front of it. She basically lives by herself and off the $100/month her siblings send her. Compared to most others she lives in luxury, since she doesn't have to get up at 5am-midnight everyday working in the outdoors. She even has her own housekeeper.

My relatives who work as teachers, who have to tutor on the side to make ends meet so that ends up working out to be 60 hours of just working, not including time grading/making assignments make around $150/month..and that's being college educated and having a real job. Most others are not so fortunate.

So yes, at $500/month you will be the envy of most others. A bowl of pho can be had for $.40-$.50, and if you want to go "fancy", $3-$4 will do it. People there were AMAZED that I was making $15/hr during a summer job..

 

[kogase]

Originally posted by: Kroze
those who call me a liar, you obviously has never been out of the country.


$1 US dollars = equivilant to $10 in vietnam.

a person is lucky to make $10 US dollars a day in vietnam

Hell, I'd consider myself in a decent position to make $100 a day here.

 

[sswingle]

So, where do you get the initial 60K?

 

[Kroze]

Originally posted by: Syringer
My aunt's 3 story place: http://www.pikindaguy.com/P9050006.JPG

Bathroom: http://www.pikindaguy.com/P9060026.JPG

Looking straight ahead, it's the left farthest place with the scooter parked in front of it. She basically lives by herself and off the $100/month her siblings send her. Compared to most others she lives in luxury, since she doesn't have to get up at 5am-midnight everyday working in the outdoors. She even has her own housekeeper.

My relatives who work as teachers, who have to tutor on the side to make ends meet so that ends up working out to be 60 hours of just working, not including time grading/making assignments make around $150/month..and that's being college educated and having a real job. Most others are not so fortunate.

So yes, at $500/month you will be the envy of most others. A bowl of pho can be had for $.40-$.50, and if you want to go "fancy", $3-$4 will do it. People there were AMAZED that I was making $15/hr during a summer job..

finally, someone who speak with experience

 

[Kroze]

Originally posted by: ScottSwingleComputers
So, where do you get the initial 60K?

savings & property sale

 

[amoeba]

you should strive for more in life than adequete mediocrity.

theres more than passable creature comforts to shoot for.

 

[necine]

Originally posted by: kogase

Originally posted by: JLGatsby

Originally posted by: Kroze
actually, my uncle build a 3 story marble vacation home in vietnam for $75k including price of land.

Liar. Marble goes at the same price anywhere, excluding shipping cost.

You cannot build anything like that anywhere, not even across the street from a marble quarry.

The labor is certainly much much cheaper over there, but quality materials aren't much different in price.

Maybe it was more like "WTB MV Home in Vietnam, 75k, have mats".

HAHHAHHAHAH!!!!!!!!!

 

[axelfox]

Too freakin' hot over there for me.

 

[rh71]

I don't think I would bother attempting to live in another culture unless I hit the lottery. Only then would there be reason for me to experience other things... for right now, I love the USA.

 

[KevinF]

It's a great idea, but you're approaching it the wrong way. You don't want to retire to Vietnam. You should "retire" to a life of learning how to speak languages in other countries. That much money is enough to live like a king in Vietnam (by which I mean like an upper-class Vietnamese, which is a pretty good lifestyle in the ultimate scheme of things), or at least very well. You could certainly get an apartment, eat very, very good food. Most importantly, you will speak Vietnamese by the end of the year, especially if you spend nine hours a day in a classroom setting learning Vietnamese, which is how you should be maximizing your time in Vietnam.

Once you've learned Vietnamese after a year or two, go to China and repeat the process. Then Japan. By the time you're thirty, you will speak every Asian language and know a lot about Asian culture which will be an unbeatable skillset in the business world. Maybe it'll motivate you to unretire and go make more money somewhere.

 

[SilentZero]

Originally posted by: Baked

Originally posted by: iversonyin
Go back to China.
Build a village with $60,000

Collect Rent and retire.
Post on ATOT for life.

And get your village confiscated by the Chinese police in a month.

And get run over by a commie in a tank the following month.

 

[sygyzy]

You guys have no idea what the country (Vietnam) is like and what the cost of living is.

 

[JLGatsby]

Isn't Vietnam communist? I don't think any price justifies living under communist rule.

Edit: http://en.wikipedia.org/wiki/Vietnam

 

[drnickriviera]

Originally posted by: JLGatsby

Originally posted by: Kroze
actually, my uncle build a 3 story marble vacation home in vietnam for $75k including price of land.

Liar. Marble goes at the same price anywhere, excluding shipping cost.

You cannot build anything like that anywhere, not even across the street from a marble quarry.

The labor is certainly much much cheaper over there, but quality materials aren't much different in price.

You're full of it. My uncle in Vietnam owns a granite quarry. We've though about importing it. For a small kitchen (around 200sq ft of countertop), we can get the granite for around $150. That does not include shipping which is the reall killer. You can't fit much in a sea land van.

Thay mine marble and granite in country. Lot of the granite is shipped to Italy, then imported to the US, so it can be 'Imported from Italy' They have a mountain over there called, guess what? Marble Mountain


Last time I was in Vietnam was 96'. I met someone over there who was a goldsmith. This wasn't someone that worked in a jewelry store and repaired jewerly. He would actually make necklaces, rings, etc. He was paid $5 a day.


They are communist, but with a capitalist economy.