Post
Topic
Board Speculation
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
JayJuanGee
on 15/09/2014, 09:23:30 UTC
I'll be retired by 33.

I save 75-80% of my income currently, have plans to build a house within the next year (eco home made with earthbags, very low cost)

Once I remove my housing  costs I will easily save 90%+ of my income.

By 33 I will be financially independent (have enough to never work again) but I will continue working, or i'd get bored.

My plan is to continue til about 40, then Ill have way more money than I need, and I can take up something interesting and expensive like diving without worrying about paying for it.

This is assuming that my x amount of bitcoins do not go up. Even if they stagnate I am on course for this, if they go to $5000 a piece it'd knock at least 2 years off that, I would be financially independent if that alone happened, let alone my savings.

I agree that saving 75 to 90% of your income is a pretty decent plan to retire early - so you already have a pretty good idea that you can live off 10 to 25% of your current income and that if your passive income generates that amount of income, then you would be able to live without working.

However, it seems kind of abstract, if we do NOT know what is your current age? so, how many years from now until you reach 33?

 And, also kind of abstract if we do NOT know how much you figure that you need to live monthly or annually?   If you are choosing to keep working, then maybe you are figuring that the amount is NOT quite enough.

Also, a little unclear that you are planning to consider yourself "financially independent," at age 33 (if things go as planned) but have already decided that you are going to choose to voluntarily work 7 more years after that, between the age of 33 and 40?