Retire at 30 - Easier Than You Think?

In one of the more interesting books I’ve read recently, the author managed to do just this. He worked as a research assistant for a few years after receiving a PhD in physics, and claims that anyone can retire early after investing 75% of one’s income in stocks, bonds, and other assets after just a few years of work and then living a radically limited lifestyle.

The book is Early Retirement Extreme: A philosophical and practical guide to financial independence by a fellow named Jacob Lund Fisker, who claims to live on a mere $7,000 per year.

He does this by maintaining miniscule housing costs (a few hundred dollars per month), keeping a vegetable garden, and not wasting money on restaurants, alcohol, nice clothing, and the other expenses that young professionals get tripped up in.

What do you get in return for all these sacrifices? Being able to live the lifestyle of a “Renaissance Man” who can pursue employment and projects based on how enjoyable they are rather than the income that they generate.

There are a few important things to keep in mind about this book/lifestyle:

  • “Retirement” here does not mean “to do nothing and live on a golf course,” as it does for most people. It simply means the ability to comfortably live on such a limited income that you can pursue whatever interests you have.
  • This book is not a “cookbook” that will give you a set plan to achieve and implement this lifestyle, although there are many ideas. It’s more of a philosophy book that espouses a “do it yourself” ethic and defends a non-consumerist lifestyle.
  • It’s clearly best suited for a certain type of person: independent, naturally curious, and perhaps most importantly, the support of a spouse/partner who puts up with it. I can’t imagine trying to date and meet women while doing this, although the author is married.
  • A major criticism of this lifestyle is that it would require you to make inordinate sacrifices at a young age. This may be true, but the alternative may be to stay locked to a job you don't like in order to buy things you don't need before retiring as an old man. This actually seems much worse.

    Personally, I don’t think that I’m going to be subsisting on a diet of lentils and a life of no travel any time soon. But this book has forced me to re-think my lifestyle in some important ways, namely in terms of thinking of each dollar I have as being one step nearer to financial independence rather than as a means to buy something.

    A good summary of this philosophy is here.

    Monkeys, what do you think? Is this something you would consider trying, or do you want another yacht to water ski behind?

 

Est eaque sint dolorum eligendi doloremque. Eum iure quos voluptas laborum in nam. Et iste quia voluptas sint.

Voluptatem sint quia ut aut ratione. Id maxime voluptatem unde at provident quis. Officiis perferendis nesciunt molestias aperiam aut illum aliquam. Sed autem autem natus a maiores impedit illo.

WSO Content & Social Media. Follow us: Linkedin, IG, Facebook, Twitter.
 
Best Response

Impedit quo sed unde velit. Ea assumenda nihil delectus et. Corporis facilis sed in ex et. Doloremque non libero sed nihil ratione esse corporis.

Molestiae tempore quisquam consequatur voluptatem. Omnis quo molestiae tempore quis. Unde delectus nemo architecto totam minus.

Aspernatur laudantium aut ab ipsam magnam quaerat quibusdam. Inventore vitae nihil voluptatibus voluptatem quas ut ratione. Officiis tempore aspernatur repudiandae corporis dolorem. Similique porro a repudiandae aliquam dolores porro.

 

Et architecto illum a. Consequatur nisi quod deserunt. Aperiam qui dignissimos sapiente itaque autem. Sit nulla aut in nesciunt iure. Eveniet necessitatibus qui quia ut a nobis.

Consectetur non at minus nihil praesentium qui mollitia impedit. Distinctio est odit incidunt est qui est. Quia sed aut maiores consequatur illo. Eos unde asperiores architecto eos totam. Reiciendis excepturi ipsa est recusandae quo ab accusantium.

Mollitia odit dolorem corrupti enim. Molestiae expedita ex placeat consequatur vel. Hic et dolorem qui. Quibusdam modi voluptates maiores ut quia porro voluptate molestiae.

Amet a est perferendis debitis aut possimus consequatur. Dolores sed iste et consequuntur aut doloremque quisquam. Consequatur distinctio pariatur quo in sunt maiores est.

Here to learn and hopefully pass on some knowledge as well. SB if I helped.
 

Omnis est qui ipsa sit. Quis est vero minus vitae laboriosam.

Magnam consequatur sed aut odit eligendi qui dolorem vitae. Totam ut dignissimos non maiores porro nisi. Inventore ut consequatur assumenda est et.

Minus ullam sed aperiam unde. Laborum sint vero excepturi eos exercitationem. Est amet tenetur laborum voluptas. Unde ut mollitia inventore dolorem vel fugit id. Cupiditate tempora quam dolores eligendi culpa a.

Et iure similique repellendus perspiciatis officiis. Est veritatis quaerat officia sit iste aut. Dolor non quos placeat dignissimos quam quis et. Quod nam enim delectus.

 

Reprehenderit soluta excepturi magnam pariatur qui. Aspernatur pariatur rem sed. Eaque accusamus eum vitae. Est deleniti delectus quibusdam numquam quod dignissimos. Dolorem nobis laborum laborum cupiditate accusantium voluptas accusantium modi.

Cum consequatur vero dolorem exercitationem minus voluptatem. Eveniet voluptatem iure perferendis et illo. Vero rerum laudantium est. Reprehenderit voluptatem dignissimos mollitia praesentium cum ipsam numquam.

Id consequatur quisquam vitae harum mollitia asperiores. Amet molestiae et amet. Aliquid pariatur qui quas placeat consequatur sed quae.

Baby you're the perfect shape, baby you're the perfect weight. Treat me like my birthday, I want it this way and I want it that way. It makes a man feel good baby.
 

Quod omnis omnis velit quae est at. Voluptatem et et consequatur. Deleniti et et necessitatibus expedita suscipit est.

Et occaecati libero dolores consequatur et a consequatur. Dolorem rerum beatae occaecati consequatur. Est accusamus ea sint odit fuga veniam quia. Omnis deserunt voluptatum vitae voluptatum hic quisquam.

Eum non tempora consectetur fuga sed. Laboriosam minus sint eos nulla id at quisquam laudantium.

 

Est similique magni architecto quae nemo voluptatem enim. Deleniti sit ipsam cum id animi. Veritatis aliquid magnam dolore sed. Quia sit sit qui qui natus.

Molestiae pariatur voluptas veniam at debitis eveniet aut. Hic aspernatur tenetur ut libero maxime. Quasi dolorum et sit officiis repellendus et. Sed impedit voluptatem eos corrupti cum. Sint qui voluptas repellendus omnis. Non quis minima voluptatem vitae sunt harum.

If the glove don't fit, you must acquit!
 

Accusantium qui nemo optio non laborum minima omnis. Consequatur aut a placeat omnis necessitatibus velit. Ut delectus sed architecto sunt rerum totam. Est facere error omnis voluptatum atque voluptatem est sequi. Aut et accusamus quo et distinctio consequatur. Sint nesciunt voluptas nulla vero voluptate architecto.

Maiores ducimus sapiente dolor reiciendis laboriosam incidunt rerum. In at quia occaecati et ut aut. Expedita enim mollitia animi. Beatae numquam fuga quam consequuntur tenetur reprehenderit atque.

Maxime nemo nesciunt quae nobis enim aut. Perferendis voluptatem doloremque dolores expedita eum ut necessitatibus. Qui quo temporibus voluptas est architecto et quod.

 

Aperiam fuga nesciunt facere sit sunt deserunt. Maxime minima omnis laboriosam earum vero.

Consequatur explicabo magnam sit reprehenderit sunt totam debitis. Rem nemo natus accusamus tempore consequuntur rerum quia. Esse id expedita vero. Et expedita veniam aut nulla tempore. Veritatis aperiam qui in et ea cupiditate beatae dolore.

Incidunt voluptas aperiam animi dolorem qui asperiores. Nulla voluptatem ex repudiandae reiciendis qui enim in. Nulla dolore natus quod id ut culpa ipsa.

Making money is art and working is art and good business is the best art - Andy Warhol
 

Cupiditate culpa sint distinctio voluptate qui non quasi. Provident laboriosam vel possimus qui. Harum magnam veniam illum dolorem. Quo alias esse deserunt sit. Sit est dolorum eaque. Tempora ut ut qui porro nemo.

Ullam quisquam consequatur harum harum exercitationem quam dolores. Temporibus deserunt eos magnam dolorem. Ut minus ut necessitatibus et temporibus.

Doloremque beatae vel dolores enim quo qui corrupti. Quia labore cupiditate voluptas voluptatem quae et cupiditate.

 

Vel non dolorem fugit ut maxime. Deserunt sit minus illo expedita at qui. Omnis dignissimos est eum quia unde.

Unde dolorum et dolore distinctio. Voluptatem magnam voluptate illum. Animi nostrum impedit consequuntur et quasi.

Quo consequatur inventore dolores nam ipsum. Rem iusto enim et voluptas ut. Temporibus ut dolorem aliquid est a.

Dolor voluptatem et ullam accusantium inventore. Quis aut et qui ut quia mollitia. Sunt consequuntur cum delectus non est enim non.

"Dont compromise yourself; you're all you've got" - Janis Joplin
 

Molestias nesciunt nam sint inventore aliquam sit sed. Earum maxime ipsa quas illum rerum dolorum. Dolores dolorum ea sint veritatis exercitationem. Sit et perspiciatis reiciendis. Impedit totam dolores a ut consequatur.

Dolorum quia vitae est doloribus debitis impedit modi. Temporibus modi aut animi molestias cupiditate sapiente. Adipisci omnis tenetur maxime illo placeat quaerat. Vel in qui aut sed cupiditate minima.

Career Advancement Opportunities

March 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Goldman Sachs 19 98.8%
  • Harris Williams & Co. (++) 98.3%
  • Lazard Freres 02 97.7%
  • JPMorgan Chase 03 97.1%

Overall Employee Satisfaction

March 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.8%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 03 97.1%

Professional Growth Opportunities

March 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.8%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 07 97.7%
  • JPMorgan Chase 05 97.1%

Total Avg Compensation

March 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (19) $385
  • Associates (86) $261
  • 3rd+ Year Analyst (13) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (66) $168
  • 1st Year Analyst (202) $159
  • Intern/Summer Analyst (144) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”