Comments on: Leaving the Corporate Life Behind http://masteryourcard.com/blog/2008/09/23/leaving-the-corporate-life-behind/ The best Credit Card Debt Blog online Thu, 02 Feb 2012 13:31:13 +1100 http://wordpress.org/?v=abc hourly 1 By: Rob in Madrid http://masteryourcard.com/blog/2008/09/23/leaving-the-corporate-life-behind/comment-page-1/#comment-6872 Rob in Madrid Sun, 28 Sep 2008 19:34:31 +0000 http://masteryourcard.com/blog/2008/09/23/leaving-the-corporate-life-behind/#comment-6872 What's the best way to "retire at 29" simple, write a best selling book about retiring at 29 the the royalties should give you enough money to retire on. This is more or less what is more or less what Derek Foster of stopwork.ca did. Retired at 34 then went on to write 3 best selling books. The problem with his first book was the math doesn't work out. According to his book he worked at a low paying job and put 200 a month into investments and vola he retired 12 years latter with 2 kids and paid for house. What's missing, well the fact he got a large inheritance, bought a house cheap at the bottom of market (up probably 250% since then) used leverage and bought into the beginning of a massive bull market (energy income funds) and oh yeah, wrote several best selling books. Obviously he was a very frugal person who avoid the debt trap but still you can't hope to retire in 12 short years using his method. It's the same with those "how to retire in 5 short years" pure luck. The best and only guaranteed way to financial freedom (and not necessarily great wealth) is to have a good paying job and live well below your means. What’s the best way to “retire at 29″ simple, write a best selling book about retiring at 29 the the royalties should give you enough money to retire on.

This is more or less what is more or less what Derek Foster of stopwork.ca did. Retired at 34 then went on to write 3 best selling books. The problem with his first book was the math doesn’t work out. According to his book he worked at a low paying job and put 200 a month into investments and vola he retired 12 years latter with 2 kids and paid for house.

What’s missing, well the fact he got a large inheritance, bought a house cheap at the bottom of market (up probably 250% since then) used leverage and bought into the beginning of a massive bull market (energy income funds) and oh yeah, wrote several best selling books.

Obviously he was a very frugal person who avoid the debt trap but still you can’t hope to retire in 12 short years using his method.

It’s the same with those “how to retire in 5 short years” pure luck. The best and only guaranteed way to financial freedom (and not necessarily great wealth) is to have a good paying job and live well below your means.

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