Would you quit your job for 1 million quid?

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taylost3 said:
How the fuck do you know you prick? There really is a pathetic bunch of keyboard bullies on this forum, mob mentality following along, very sad really.
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Sorry like but you are absolutely clueless if you can't see the flaws in this plan for a lot of people. A few of us have pointed them out but we are all bullies and your right. Load of bollocks man. Good for you if your plan in life is to sack off your job to live off 20% of your salary. A lot of people have better ways of doing it.

Someone on nmw can't realistically achieve it at a young age, bollocks to the theory behind it, in the real world it is not possible unless there is an external factor ie gifted house/inheritance. To say an 18yr old is going to stay at home until 50 just to achieve this early retirement isn't realistic. God knows why you struggle to grasp that.

At the other end of the scale how many people are going to give up a 100k income in their thirties to live on 20k for the next 50+ yrs. Probably less than I can count on one hand. Really this is for people who are a few year off retirement. At that point it's no different to anyone who just saved up, invested and retired a few yr early.

If your plan is to live off 20% of your income from 42 onwards. I guarantee you will do something to boost your income at some point, likely to be a bit part time work when something changes in life.

Horatio Moustache said:
I think there's a fine line between both points discussed here and there's certainly no need to resort to name calling (will await the 'fuck off' replies now :-D ).

It's important to remember that financial independence doesn't mean retiring, it's about giving you the freedom to do what you want because you're financially secure. The likes of MrMoneyMoustache do speak sense in theory but also spout hyperbole that is on another planet, as outlined on this thread.

I'm actively working towards financial independence but I'm not in the cult. I'm aiming to be mortgage free and have passive income of about 15k, that would give me the freedom to do whatever I wanted in life (which does include work of some sort). My sums say this is possible at about 40-45 but things change. I could do it now with about 250k. There's obviously inflation too but I'm not clever enough to work that out.

At the same time though, my life at the moment is what I find to be a good one and I spend (not including mortgage/bills!) around £600 a month. So in theory I could live off way below £15k a year but I'd rather not, again because of reasons outlined on here in this thread.
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This is what I am wanting to do. Although my retirement is an lgps pension so I'm a bit stuck going before 55. Hopefully before then I will be part time once mortgage is gone. Always planned to take the hit on the pension by going early though.

Anything could happen between now and then though.
 
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taylost3 said:
Granted its very very hard I accept that but not impossible. If I earn nmw live with parents until I'm 50 saving a high percentage of income then it can/would happen that's a fact. This started out with the whole thing being impossible anyway which is clearly isn't. Like I said I have nothing to prove I'll leave it here as I cant be arsed to continue this pointless discussion.
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What a life
 
AndrewP said:
Aye, you're probably both doing similar things and have similar goals, just he presented in a realistic way with disclaimers whereas you presented it as magic bean.
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He wants to hope him and his lass never split up.

1. His retirement plan is instantly knackered.
2. He will struggle to meet anyone else who will buy into this fairy tale.

:)
 
safcsafc said:
Sorry like but you are absolutely clueless if you can't see the flaws in this plan for a lot of people. A few of us have pointed them out but we are all bullies and your right. Load of bollocks man. Good for you if your plan in life is to sack off your job to live off 20% of your salary. A lot of people have better ways of doing it.

Someone on nmw can't realistically achieve it at a young age, bollocks to the theory behind it, in the real world it is not possible unless there is an external factor ie gifted house/inheritance. To say an 18yr old is going to stay at home until 50 just to achieve this early retirement isn't realistic. God knows why you struggle to grasp that.

At the other end of the scale how many people are going to give up a 100k income in their thirties to live on 20k for the next 50+ yrs. Probably less than I can count on one hand. Really this is for people who are a few year off retirement. At that point it's no different to anyone who just saved up, invested and retired a few yr early.

If your plan is to live off 20% of your income from 42 onwards. I guarantee you will do something to boost your income at some point, likely to be a bit part time work when something changes in life.


This is what I am wanting to do. Although my retirement is an lgps pension so I'm a bit stuck going before 55. Hopefully before then I will be part time once mortgage is gone. Always planned to take the hit on the pension by going early though.

Anything could happen between now and then though.
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Once again resorting to name calling I see. I'm far from clueless mate if anything you are if you want to retire before the age of 55 you need to start contributing to something other than your pension. I pay into a regular pension but invest via an ISA in an Index fund that I can access at any time. You could also look at some investment vehicle to bridge the gap before your pension kicks in at 55. This might be of interest http://www.thefinancezombie.com/2015/11/the-bridge-to-financial-independence.html

In all likely hood, I probably will still work but I'm aiming for financial independence rather the retirement, I'll decide when I get there. I may continue to work or change careers do charity work etc.
 
safcsafc said:
He wants to hope him and his lass never split up.

1. His retirement plan is instantly knackered.
2. He will struggle to meet anyone else who will buy into this fairy tale.

:)
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Maybe he would like to exchange, mine is badgering me into dropping £7k on a holiday, that could shave a few months off retirement age. ;)

taylost3 said:
Once again resorting to name calling I see. I'm far from clueless mate if anything you are if you want to retire before the age of 55 you need to start contributing to something other than your pension. I pay into a regular pension but invest via an ISA in an Index fund that I can access at any time. You could also look at some investment vehicle to bridge the gap before your pension kicks in at 55. This might be of interest http://www.thefinancezombie.com/2015/11/the-bridge-to-financial-independence.html

In all likely hood, I probably will still work but I'm aiming for financial independence rather the retirement, I'll decide when I get there. I may continue to work or change careers do charity work etc.
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Nah, I could retire before I'm 55 if I wanted to, with no pension and no personal income, it's possible, it relies on my wife though, she could keep me, much like your plan relies on a willing wife..
 
safcsafc said:
He wants to hope him and his lass never split up.

1. His retirement plan is instantly knackered.
2. He will struggle to meet anyone else who will buy into this fairy tale.

:)
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Bore off mate it's also knackered if I get ran over by a bus or it could be enhanced with a lottery win or inheritance if you want to talk about ifs and maybes that no one can predict! Truth is if any of those do happen I'm still financially in a better place because of what I've done up to this point.

AndrewP said:
Maybe he would like to exchange, mine is badgering me into dropping £7k on a holiday, that could shave a few months off retirement age. ;)



Nah, I could retire before I'm 55 if I wanted to, with no pension and no personal income, it's possible, it relies on my wife though, she could keep me, much like your plan relies on a willing wife..
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It doesn't rely on a willing wife at all we would both retire together and she would retire before me if anything.
 
This thread! :lol:

Anyone who doesn't give up their job for a million quid deserves a good kicking around a field. Who cares if it won't see you out until your dying days? It will provide years of stress free fun. & if it runs out before you would retire anyway...

Think of the memories you've made. You could get run over by a bus tomorrow. If you can't work out how to survive after being handed a million quid, there's no hope for you anyway.
 
taylost3 said:
Bore off mate it's also knackered if I get ran over by a bus or it could be enhanced with a lottery win or inheritance if you want to talk about ifs and maybes that no one can predict! Truth is if any of those do happen I'm still financially in a better place because of what I've done up to this point.



It doesn't rely on a willing wife at all we would both retire together and she would retire before me if anything.
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You're right in them situations you will be better off financially. I remember when I got ran over by a bus and my first thought was 'I should never have had that lads holiday to Benidorm when I could have invested it into my retirement.
 
What's going on here?
I doubt I would change what I'm doing if I got a million but I wouldn't ever have to worry about getting a 'proper job' again.
I jacked my job in with next to no money two years ago and earn less than NMW at the moment but I survive.
I never skimped when I was working full time and did all my travelling etc so at the minute I don't mind not having much spare cash. That might change.
Had I continued working I would have earned more than a million before retirement but you spend a lot less when not going to work each day so would definitely have walked even if I didn't want to become a writer.
 
taylost3 said:
Bore off mate it's also knackered if I get ran over by a bus or it could be enhanced with a lottery win or inheritance if you want to talk about ifs and maybes that no one can predict! Truth is if any of those do happen I'm still financially in a better place because of what I've done up to this point.
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It's knackered anyway. It's a shit plan. Glad you're starting to realise.

Your financially better off because you've made some sound investments by the sounds of it. That's no different to a lot of people. The shit part is expecting to live of 20% of your annual income. For most people, particularly low earners, that isn't sustainable.
 
no. work doesent bother me, gets me out of the house for 8 hours a day, a million quid would just buy me a lot more clothes and a few more holidays
 
Fred Secrets said:
This thread! :lol:

Anyone who doesn't give up their job for a million quid deserves a good kicking around a field. Who cares if it won't see you out until your dying days? It will provide years of stress free fun. & if it runs out before you would retire anyway...

Think of the memories you've made. You could get run over by a bus tomorrow. If you can't work out how to survive after being handed a million quid, there's no hope for you anyway.
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What if you enjoy your job? You could probably work for 5-10 years and set you and your family up for generations while living a great lifestyle.
 
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