OtherGround Forums $270k lawyer Eats Rice and Beans so...

5 days ago
8/20/08
Posts: 4457

...he can retire early. Awesome choice, wish I could do the same.

 

A Manhattan corporate lawyer earning $270,000 a year told Suzy Weiss of the New York Post that he lives on rice and beans so he can retire early.

He's one of an increasing number of millennials trying to join the so-called FIRE community, Weiss wrote.

Successful early retirees have told Business Insider they stayed on track for financial independence by living on less.

Frugality is the key to building wealth.

Visit Business Insider's homepage for more stories.

Some people will do anything to escape the rat race.

Just ask Daniel, 36, a Manhattan corporate lawyer earning $270,000 a year, who told Suzy Weiss of the New York Post that he lives in New Jersey to avoid city taxes, lives on rice and beans, owns one patched-together suit per weekday for work, and layers up during the winter instead of turning the heat on — all so he can save 70% of his salary and retire early.

It's working: He's saved more than $400,000 and is set to retire in three years, Weiss wrote.

5 days ago
1/1/01
Posts: 114403

He should just move back in with his mom if he's that much of a cheapskate

5 days ago
1/1/01
Posts: 14811

This is awesome choice for some. 

Sad part is with him saving 70%, he’s still spending more than I make. Haha. Epic fail

5 days ago
1/1/01
Posts: 25272
AnotherTMAguy - 

...he can retire early. Awesome choice, wish I could do the same.

 

A Manhattan corporate lawyer earning $270,000 a year told Suzy Weiss of the New York Post that he lives on rice and beans so he can retire early.

He's one of an increasing number of millennials trying to join the so-called FIRE community, Weiss wrote.

Successful early retirees have told Business Insider they stayed on track for financial independence by living on less.

Frugality is the key to building wealth.

Visit Business Insider's homepage for more stories.

Some people will do anything to escape the rat race.

Just ask Daniel, 36, a Manhattan corporate lawyer earning $270,000 a year, who told Suzy Weiss of the New York Post that he lives in New Jersey to avoid city taxes, lives on rice and beans, owns one patched-together suit per weekday for work, and layers up during the winter instead of turning the heat on — all so he can save 70% of his salary and retire early.

It's working: He's saved more than $400,000 and is set to retire in three years, Weiss wrote.


WTF. Those numbers don't add up.
5 days ago
6/30/14
Posts: 33362
"He's saved more than $400,000 and is set to retire in three years"

impossible. countless OGers say you need millions of dollars just to live a blue collar retirement

"Frugality is the key to building wealth."

also wrong. OGers have said paying down debt is dumb if your investments have a hire interest rate

this lawyer should have come to the OG experts for financial advice first
5 days ago
3/12/07
Posts: 11715

$400,000 and retiring at 39? ok.

5 days ago
5/22/18
Posts: 955

Can only imagine what he will eat upon retirement. He will be eating out of a dumpster so he can stay retired 

Edited: 5 days ago
1/1/01
Posts: 33756

I bet he owns a fleshlight and watches lots of porn.

Fleshlights are cheaper than dating NYC women and way cheaper than wives and children.

5 days ago
6/2/14
Posts: 2214
Fan of Fanboys - "He's saved more than $400,000 and is set to retire in three years"

impossible. countless OGers say you need millions of dollars just to live a blue collar retirement

"Frugality is the key to building wealth."

also wrong. OGers have said paying down debt is dumb if your investments have a hire interest rate

this lawyer should have come to the OG experts for financial advice first

He's following what Mr. Money Mustasche has preached to a tee.

5 days ago
1/1/01
Posts: 37000
Yeah, $400,00 (plus 3 more years of savings) and he's going to retire at 39? That does not compute.
5 days ago
10/15/13
Posts: 32152
BJ Penn Forever -

I bet he owns a fleshlight and watches lots of porn.

Fleshlights are cheaper than dating NYC women and way cheaper than wives and children.

How does one know the cost to date children?

5 days ago
1/1/01
Posts: 33757
pm1964 - Yeah, $400,00 (plus 3 more years of savings) and he's going to retire at 39? That does not compute.

When retired he is going to earn interest while living in a microhouse in the sticks of Alabama while surviving on wild game, collecting rain water and drinking his own piss.

5 days ago
10/15/13
Posts: 32153
pm1964 - Yeah, $400,00 (plus 3 more years of savings) and he's going to retire at 39? That does not compute.

It does if he plans on living on rice and beans for the rest of his life.

 

By the way, i find it IMPOSSIBLE for someone to eat that everyday....EVERYDAY....of ones life and nothing else. 

5 days ago
1/1/01
Posts: 33758
Al Cappucino -
BJ Penn Forever -

I bet he owns a fleshlight and watches lots of porn.

Fleshlights are cheaper than dating NYC women and way cheaper than wives and children.

How does one know the cost to date children?

having a wife and children.... I should have said.

As to your question, I don't want to know.

5 days ago
10/12/15
Posts: 1166

You guys saying he's retiring off 400,000 need to learn to fucking comprehend what you're reading.

He CURRENTLY has saved 400,000 and is saving 70% of his 270,000 salary for the next three years as well. 

That means he's retiring with about $800,000

For all we know he has sound investments or investment ideas to create an income and intends to buy property in a cheap state with a lot of land. He could easily retire and live well if he does it right.

5 days ago
2/9/14
Posts: 434

It's amazing that a lawyer that makes that kind of money has zero understanding about money.    

5 days ago
1/1/01
Posts: 22339
LukeJitsu -

You guys saying he's retiring off 400,000 need to learn to fucking comprehend what you're reading.

He CURRENTLY has saved 400,000 and is saving 70% of his 270,000 salary for the next three years as well. 

That means he's retiring with about $800,000

For all we know he has sound investments or investment ideas to create an income and intends to buy property in a cheap state with a lot of land. He could easily retire and live well if he does it right.

I'd assume he's saving 70% of his take home pay...

 

 

5 days ago
6/29/11
Posts: 14403

270,000 in New York doesn’t sound like it goes as far as it does in most other states, am I correct?  Still a good living though. 

Edited: 5 days ago
5/18/10
Posts: 12668

It's not working. How can you do that and have a mediocre 400k

 

I'm younger, much higher wealth, and live far better than him

Edited: 5 days ago
1/1/01
Posts: 22340

I'm assuming he started this plan recently. Having $400k saved at 36 while making $270k a year isn't an impressive amount.

 

If he'd of taken a well paying city job instead out of high school, invested the money he spent on school instead, he'd have way more than $400k now.

 

5 days ago
5/14/10
Posts: 6541
My mom used to see some guy that was like this. He was a millionaire back in the 80s when it still meant something. He owned several apartment buildings in southern CA and got a ton of money from them. He once bragged about how he eats for free sometimes by just going up to people that are eating and asking them if they're going to finish something on their plate so they will offer it to him. He would routinely go into places to eat and work out a deal with the manager before he ordered food so he would be able to work it off instead of paying. He also lived in a trailer with his old mother, even though he owned buildings and had a ton of money. Very Norman Batesey. I also think that he might have molested my little sisters at some point. Creepy dude.
5 days ago
2/24/07
Posts: 28739
That’s a great plan until you get hit by a bus at 40 and realized you completely threw away all of your good years for nothing.
5 days ago
1/1/01
Posts: 9061
FrontBroRian - That’s a great plan until you get hit by a bus at 40 and realized you completely threw away all of your good years for nothing.

This. None of us is guaranteed to see tomorrow. Why live like that when you could have at least a decently comfortable life and still put away plenty?

5 days ago
1/25/04
Posts: 129721

"It's working: He's saved more than $400,000 and is set to retire in three years, Weiss wrote."

 

WTF

5 days ago
1/1/01
Posts: 33759
Jack Carter -

"It's working: He's saved more than $400,000 and is set to retire in three years, Weiss wrote."

 

WTF

Fleshlight instead of a wife, microhouse in the sticks, eating wild game and piss drinking is where it is at.