Retiring @ age 23

[Ranger X]

The original poster sounds exactly like my friend who wants to earn enough and retire, except in China. Of course, it depends on what part of China but he said he can live pretty well on $1000/month with a mistress or two on the side.

 

I'll pass on the living in Vietnam thing.

 

[dym]

wrong, it'll take 1000$ to live like a king in Vietnam.

with 200$, you'll have a lower class life.

 

[FoBoT]

you will get the SARS and die

 

[Fenixgoon]

talk to azurik, he could retire already, right?

 

[iwearnosox]

Originally posted by: FoBoT
you will get the SARS and die

Bird flu.

 

[AznAnarchy99]

Originally posted by: robothouse77
step 3. be constantly held up and robbed in vietnam. lose all asset, possibly life.

good luck out there


EDIT: good luck finding a mutual fund that gets a return of 10% a year after taxes, fees, and loads.

things are not that bad there..

 

[tokamak]

10% seems high. What about the years when the market goes down? You could do something really safe like bonds, but I don't think you'll get anywhere near 10% on that.

Besides, you'd live in Vietnam. Do they even have, like, Arby's there?

 

[Syringer]

Originally posted by: JLGatsby
Isn't Vietnam communist? I don't think any price justifies living under communist rule.

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

Some parts maybe, but in the South there's really little communist influence..

 

[Syringer]

Originally posted by: tokamak
10% seems high. What about the years when the market goes down? You could do something really safe like bonds, but I don't think you'll get anywhere near 10% on that.

Besides, you'd live in Vietnam. Do they even have, like, Arby's there?

They actually have quite a few KFC's =p

Originally posted by: dym
wrong, it'll take 1000$ to live like a king in Vietnam.

with 200$, you'll have a lower class life.

Well it depends on the area. People raise families living in middle class status making around $200 a month.

 

[herkulease]

Originally posted by: tokamak
10% seems high. What about the years when the market goes down? You could do something really safe like bonds, but I don't think you'll get anywhere near 10% on that.

Besides, you'd live in Vietnam. Do they even have, like, Arby's there?

I know they have KFC there. Don't recall other american fast food chains. But I was really looking for them.

 

[Slew Foot]

Some of my oil and energy mutual funds are up 40% this year.

 

[gotsmack]

forget it. The only person who is going to retire at 23 is that guy with the black amex.

Mutuals do not guarantee a return on your money. You have to have your money in bonds for a guaranteed return. Then you'd have to have enough to reinvest to keep up with inflation.

 

[Svnla]

Originally posted by: robothouse77
step 3. be constantly held up and robbed in vietnam. lose all asset, possibly life.

good luck out there


EDIT: good luck finding a mutual fund that gets a return of 10% a year after taxes, fees, and loads.

Constantly held up and robbed?? Have you EVER been to Vietnam at all before you make that stupid statement?

You may be bother by beggars for money or the local government may harrash you for money/import items but I doubt you will encounter any violent incidents.

To the OP, $200 a month may work if you live in rural area in Vietnam but if you want to live in the big city of Saigon, you going to need more, much more than that to live as a king.

 

[iversonyin]

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.

Dullard, an ordinary citizen will not be able to take advantage of opportunties in any type of market and economics system.

To create 10% return on your money is so god damn easy (unless you have a million to invest...by then real estate would be a better choice).

You are a smart guy, I assume you can do 10% with your money every year. With a little hard work, 10% is sooooo easy to come by. (mani bond fund pays about 4% tax free capital gain. thats mount to about 6% of the same type of taxed gain. and all that is pretty risk free)

You are looking at $6000 on $60k. Its really not that hard.

OoO, btw. I can swear that by the time I'm 23. I would definitely have more then $60k liquid asset.

 

[eflat]

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?

well ******, why don't you go live with grandmom for free? i bet she will cook for you and then you will really be living it up.

 

[habib89]

sure, you could live like a king in vietnam.. but you would be in vietnam....

 

[clickynext]

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

Collect Rent and retire.
Post on ATOT for life.

I suppose the villagers will be built in the barracks, and you'll roll tanks out of the war factory for defense.

 

[saahmed]

Sounds retarded to me.

 

[LS20]

Originally posted by: drnickriviera


You're full of it.

i think it has been well-shown that JLGatsby is a complete fkking moron who has no idea ever of what he/she babbles about...

but then again.. the premise of this entire thread is ridiculous to start with. everyone here must seriously be 17 y/o...

 

[LS20]

Originally posted by: iversonyin
Dullard, an ordinary citizen will not be able to take advantage of opportunties in any type of market and economics system.

To create 10% return on your money is so god damn easy (unless you have a million to invest...by then real estate would be a better choice).

OoO, btw. I can swear that by the time I'm 23. I would definitely have more then $60k liquid asset.

:laugh::laugh:
:laugh:

do this: print this thread on quality paper, laminate it, and hang it off your wall. check back in 12 years when you turn 23 to see how ridiculous your hallucinations are

 

[OS]

Originally posted by: iversonyin
Dullard, an ordinary citizen will not be able to take advantage of opportunties in any type of market and economics system.

To create 10% return on your money is so god damn easy (unless you have a million to invest...by then real estate would be a better choice).

You are a smart guy, I assume you can do 10% with your money every year. With a little hard work, 10% is sooooo easy to come by. (mani bond fund pays about 4% tax free capital gain. thats mount to about 6% of the same type of taxed gain. and all that is pretty risk free)

You are looking at $6000 on $60k. Its really not that hard.

OoO, btw. I can swear that by the time I'm 23. I would definitely have more then $60k liquid asset.

heh, you're not even 23, but you think you can consistently swing 10% return on investments for years?

 

[LS20]

Originally posted by: OS

heh, you're not even 23, but you think you can consistently swing 10% return on investments for years?

the only kids who talk about it are the ones who have yet to do it.

"when i graduate college, i will automatically land an 80k job"
"when i turn 25, i will have had a paid-off house"

DO, then SAY

 

[iversonyin]

Originally posted by: LS20

Originally posted by: iversonyin
Dullard, an ordinary citizen will not be able to take advantage of opportunties in any type of market and economics system.

To create 10% return on your money is so god damn easy (unless you have a million to invest...by then real estate would be a better choice).

OoO, btw. I can swear that by the time I'm 23. I would definitely have more then $60k liquid asset.

:laugh::laugh:
:laugh:

do this: print this thread on quality paper, laminate it, and hang it off your wall. check back in 12 years when you turn 23 to see how ridiculous your hallucinations are

Just because you did't have the ability to do this when you were 23, it doesn't mean other people don't have that ability. How hard is it to have $60k when you are 23 anyway?

 

[LS20]

Originally posted by: iversonyin
How hard is it to have $60k when you are 23 anyway?

You'll find out when you make 60k, or when you turn 23, won't you?

Like I said, DO it, then SAY it. optimism is good.... only to a point.