You won’t retire early, or ever

It’s time for some hard truths.

Pop open your peepers and check out this myth. Absolute BS. Follow that up with this article that says that Gen Y expects an early retirement but has no idea how to achieve it. We apparently have all these bogans and there’s not a drop of wealth among them. Why?

Short answer: spending too much, too often. Just take some personal responsibility, damn. Save for things you really want, forego the things you don’t. Give up the daily coffee. As long as you continue to save, you’ll do well. That goes for all generations.

Using myself as an example, my rent is expensive, I only earn an average wage, I still spend a bit, but only on things that will last a while. If I worked for another 30 years, starting with nothing today, and invested my savings in ‘the market’ (returning 7% per year on average), I’d end up with almost 3 million dollars.

That’s without a single pay rise. So why is retirement portrayed as ‘impossible’?


Save your dollarydoos.

I’ll say it again. Three million. Even after inflation, that’s a truckload. Using the 4% rule would mean I’d retire with $115,000 coming in each and every year for the rest of my life.

We’re talking about passive income of over $2,200 a week. I could literally live in a 5-star hotel and eat steak for every meal of the day. The sky’s the limit when you set yourself up financially, which is what I fully intend to do.

If you believe the news stories that tell you it’s impossible, then you’ve already failed. If not, then just spend less than you earn, develop a savings plan, and invest wisely, and you’ll succeed.

If you don’t want to work for it, I recommend the lottery. I expect a cut if you win.

What did you spend your money on today? Please tell me about it in the comments below!


4 thoughts on “You won’t retire early, or ever

  1. We spent $8 at the grocery store- we bought tuna, two bags of spinach and a can of corn… Compare that to the people I work with who went for coffee this morning- they would have spent close to $8 each and didn’t get 3-4 delicious meals out of it!

    There is never any suggestion of personal responsibility in these articles about how Gen Y will never retire. I am a member of Gen Y and I intend to retire when I am 35/36. You know how?

    Personal responsibility.


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