How are you preparing financially for retirement – page 3 – survivalist forum youtube gas station karaoke


I basically decided when I was in the 9th grade I wanted to be an engineer, and I wanted to finish school debt free. I grew up somewhere on the low end of middle class, and I worked my ass off in high school and collage to put myself through school on academic scholarships and graduated from collage last year debt free.

Now I have an engineering degree and make just barely over 6 figures, but I have basically the same lifestyle and expenses as when I was in school. I still buy most my clothes at the thrift store or the employee shop at work (I have TONS of company t shirts ), drive my 40 year old Chevy with rust holes, and live with roommates from work. I enjoy the lifestyle I have, and although I could now afford to spend way more in rent to live right on the beach, way more in clothes at designer stores, and probably even finance the new Corvette I dreamed of in high school, none of that seems to matter to me anymore in my ripe old age . lol

I splurged on a couple nice guns, a welder, a fancy HF radio, and some off-road parts for my truck shortly after graduating, but now I save/invest most of my income. On the weekends when my coworkers are hitting up the bars to the tune of $7 per drink or going to Vegas all the time, I’m out in my yard welding on a project, stringing up a new radio antenna, or heading out to the desert to go exploring. I was raised in a family without a whole lot of money, and now find most of what I enjoy doing doesn’t cost a whole lot.

The first thing I did after graduating college was to save up an emergency fund equivalent to 1 year of my current expenses (which could be cut significantly if I quit restoring/upgrading my truck and going camping on weekend). I am highly debt averse, and I tried to keep ~$2k on hand the whole time I was in school. Other than tuition and books, that was about 4 months of my expenses at the time. Now I have a real job and I have been able to put together a real emergency fund, and the piece of mind is incredible. Knowing I could walk out of work tomorrow, and do whatever I want for a full year without having to touch investments is an incredible feeling.

I max out my 401k despite not receiving an employer match (tax savings are still significant), and max out my Employer Stock Purchase Program (15% of salary) whereby I can purchase company stock at a discount. I also contribute to a taxable investment account with all leftover funds. I hold total-market index funds in both accounts, and am willing to tolerate the risk of almost 100% stocks at this point. I do have a very large percentage of my net worth in equity in my (not publicly traded) employer as well. However the company has been extremely successful in the last year, and I believe they will continue to substantially out-perform the market in the future and am also ok to tolerate that risk. I would not recommend others invest like I do, but it works for me. Total savings and investment contributions are around 60% of my gross income, which is only possible because $18.5k right off the top goes into my 401k tax free.

I do not have consumer debt, or a credit card. I would encourage most people to build credit and use it responsibly, but I’ve never needed it and by the time I get out of L.A. (where I would never buy a home), I will be able to buy a place with cash.

The job I am in is extremely stressful, requires 60-70 hours per week, and also means I have to live in L.A. I love the work and believe strongly in the company mission, but the level of stress I put up with on a daily basis is not sustainable. My overall strategy is to live here for a few years and save as much money as possible as fast as possible, with the goal of attaining financial independence in my early thirties or maybe even right at age 30 (currently 22). At which point I would like to "retire" from engineering and set up a homestead in a mountain town somewhere far from California, and find a job working as a welder or machinist. Or maybe open a junkyard and sell classic car parts. Or something, I dont know. I am sure I will be working until the day I die (because I would go crazy otherwise), but I would like that work to be on my own terms and at a relatively low level of stress.

Also if/when I marry, it will be to someone with similar financial and life goals to mine who does not "need" numerous frivolous things. No exceptions. Also preferably to someone with a similar technical degree and high earning potential, but that part is very negotiable.

Why do you lapse into queenly liberal collectivist groupspeak as if you’re the self appointed spokeshole for some imaginary group? Why are you so weak you can’t simply speak for yourself as an individual. I have no problem being honest enough to speak only for myself, so why can’t you? If I ever use "we" or "our" it only means that my wife and I are both involved together in whatever is being mentioned. bla, bla, bla…..

My wife and I built our house so as not to need to do that kind of stuff. right…. and you’ll never have medical bills, your car never breaks down your motorcycles never need an oil change etc…. spair me. There are two roofs on our house (tile and silicone) so as to never need to replace itin our own lifetimes. Our house is also stucco so the cement color always looks the same and never needs painting. Our house also has NO wood eaves fascia or trim and no wooden decks, or fences so as to be completely free of the need to paint anything. smart…. (I went with metal, next house will be all concrete) won’t cover everything.