Anonymous
Post 08/01/2019 09:33     Subject: s/o living on $25k or $36k a year
1. Get debt free
2. Save a pile of cash
3. Move to a low cost of living area
4. Retire or work when only interested in something you love
5. Profit

Get rid of any recurring payments that aren't necessary and reduce the ones that are necessary. One car, one insurance payment, cheap cell phone plan, no cable TV, cheap internet. $36k buys a lot when you don't owe anyone any money
Anonymous
Post 08/01/2019 09:26     Subject: s/o living on $25k or $36k a year
Anonymous wrote:And these FIRE People also pull stunt of putting kids in "guardianship" so they go to college for free, get ACA and subsidized housing due to no income and hide assets in LLC. They also use food stamps and welfare

My Mom always told me folks not working under 60 are just unemployed they aint retired.


Lol
Anonymous
Post 08/01/2019 09:19     Subject: s/o living on $25k or $36k a year
Anonymous wrote:
Anonymous wrote:And these FIRE People also pull stunt of putting kids in "guardianship" so they go to college for free, get ACA and subsidized housing due to no income and hide assets in LLC. They also use food stamps and welfare

My Mom always told me folks not working under 60 are just unemployed they aint retired.


+1


-1

Of course there will be people manipulating the system, but people can - and do - retire comfortable before age 60.
Anonymous
Post 08/01/2019 09:18     Subject: s/o living on $25k or $36k a year
Anonymous wrote:And these FIRE People also pull stunt of putting kids in "guardianship" so they go to college for free, get ACA and subsidized housing due to no income and hide assets in LLC. They also use food stamps and welfare

My Mom always told me folks not working under 60 are just unemployed they aint retired.


I fully funded my kids college with 529s before retirement. I do not use food stamps or welfare. I have a paid for house on a golf course.
Anonymous
Post 08/01/2019 09:17     Subject: s/o living on $25k or $36k a year
Anonymous wrote:And these FIRE People also pull stunt of putting kids in "guardianship" so they go to college for free, get ACA and subsidized housing due to no income and hide assets in LLC. They also use food stamps and welfare

My Mom always told me folks not working under 60 are just unemployed they aint retired.


+1
Anonymous
Post 08/01/2019 09:15     Subject: s/o living on $25k or $36k a year
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:$36k also goes a long way if you're healthy. You note that the PP mentions no medical expenses.


Also if you have no kids or they do no paid activities or lessons.


My kids run cross country and play soccer. $75 per season


And the soccer cleats and running shoes? Do those magically appear?


Walmart sells both
Anonymous
Post 08/01/2019 08:47     Subject: s/o living on $25k or $36k a year
And these FIRE People also pull stunt of putting kids in "guardianship" so they go to college for free, get ACA and subsidized housing due to no income and hide assets in LLC. They also use food stamps and welfare

My Mom always told me folks not working under 60 are just unemployed they aint retired.
Anonymous
Post 08/01/2019 08:11     Subject: s/o living on $25k or $36k a year
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:$36k also goes a long way if you're healthy. You note that the PP mentions no medical expenses.


Also if you have no kids or they do no paid activities or lessons.


My kids run cross country and play soccer. $75 per season


And the soccer cleats and running shoes? Do those magically appear?
Anonymous
Post 08/01/2019 08:10     Subject: s/o living on $25k or $36k a year
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:We spent 20k last year on non-housing expenses, and another 14K on rent/utilities. Total ~35K. This was our last year before moving to DC.

For us the key was living in a low cost of living state (in the South!). We had a 2bd/1ba, cheap restaurants, and went hiking/camping for fun. In DC, we can still most of these things, but rent is killing us.



This is really the key. Owning your home outright, in an area where property taxes are low, is a great first step. In addition, being retired, and so having time to do things you might otherwise be inclined to pay for, also is important. Finally, being single, like a PP, obviously cuts expenses considerably.

But, let's not forget that very few FIRE people are doing it without some public assistance. They're on Medicaid, if younger than 65; and likely other types of assistance. This galls me - people who *could* be working and footing their own bills just deciding to stop and live off a small amount each year, plus public assistance that is designed as a safety net (not a "let us help pay for your early retirement" plan).


I also wouldn't necessarily assume all the FIRE people are only spending small amount per year, it just that they are only drawing in that much income and are otherwise supplementing with non-taxable savings sources so they stay under the thresholds for ACA and other subsidies. Agree that a lot of this is living in a LCOL area with a paid off home and low property taxes.


Exactly my point. This lifestyle, which is a choice for these people, would not be possible without substantial assistance from the rest of us.
Anonymous
Post 08/01/2019 07:45     Subject: s/o living on $25k or $36k a year
Anonymous wrote:If you want halfway decent, licensed childcare for your child (or children), this is impossible.



I'm one of the "low income" posters on this thread. I paid $250 a week for licensed in home care for my infant, loved the provider. We switched to a Y daycare once she was two and it cost $180 a week. Childcare also goes back to the less expensive area issue.

I have friends who rely partly or fully on free family care, have a live in friend or family member who provides care in exchange for a little cash and room and board, or parents work opposite shifts to cover most of their time.
Anonymous
Post 08/01/2019 05:23     Subject: s/o living on $25k or $36k a year
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:$36k also goes a long way if you're healthy. You note that the PP mentions no medical expenses.


Also if you have no kids or they do no paid activities or lessons.



And they are out of the age where you require childcare. Or you have a SAHP.


Or 2 stay at home parents because of FIRE
Anonymous
Post 07/31/2019 23:20     Subject: s/o living on $25k or $36k a year
Anonymous wrote:
Anonymous wrote:$36k also goes a long way if you're healthy. You note that the PP mentions no medical expenses.


Also if you have no kids or they do no paid activities or lessons.



And they are out of the age where you require childcare. Or you have a SAHP.
Anonymous
Post 07/31/2019 23:18     Subject: s/o living on $25k or $36k a year
If you want halfway decent, licensed childcare for your child (or children), this is impossible.

Anonymous
Post 07/31/2019 23:12     Subject: s/o living on $25k or $36k a year
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:$36k also goes a long way if you're healthy. You note that the PP mentions no medical expenses.


Also if you have no kids or they do no paid activities or lessons.


My kids run cross country and play soccer. $75 per season


For who? We live in Loudoun and rec soccer for 6 yo’s is $150/season.
Anonymous
Post 07/31/2019 13:11     Subject: s/o living on $25k or $36k a year
Anonymous wrote:
Anonymous wrote:$36k also goes a long way if you're healthy. You note that the PP mentions no medical expenses.


Also if you have no kids or they do no paid activities or lessons.


My kids run cross country and play soccer. $75 per season