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|Subject: Re: Retire at 30||Date: 4/28/2013 2:25 PM|
|Author: intercst||Number: 72117 of 74432|
<<<And as I recall, one who did that successfully is the OP, Intercst.>>
There was some luck involved.
As Warren Buffett says, "I won the ovarian lottery." I was born a white guy in America -- and that puts me ahead of 99% of the world.
In my case, I was born to Irish emigrant parents (a construction laborer and a nurse) who had come to America 6 or 7 years before. I was lucky enough to grow up in a town (Hartford, CT) where though the schools were already in decline, taxpayers were still spending enough to provide a decent education. When the time came to go to college, both my brother and I were able were able to put together enough savings, scholarships and loans to attend top-flight private colleges (RPI and WPI.) Once there, I put my nose to the grindstone and got my degree in three years -- saving a year's worth of the exorbitant tuition and earning a big engineering salary a year earlier.
Here's my "Career Advice for Budding Early Retirees." that I wrote back in 1999.
I just completed my annual review of Real-Life Retiree Investment Returns.
For folks who retired as I did in 1994, you didn't need to do anything exotic to get wealthy. Just taking a 4% withdrawal from a 60% S&P500/ 40% bond portfolio would leave you with 2-1/2 times your starting balance after 18 years of inflation-adjusted annual withdrawals. Heck, even if you retired at the market top in 2000, a 60% stock/40% bond portfolio still has 80% of it's starting value after 12 years of withdrawals.
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