No need to stress when you don’t need to work

I don’t think of myself as a stressy person in general.  I take some things seriously but usually don’t stress too much.  Anyway, on 8/22/2016 my wife and I made a number of decisions (read about it at The Mission if you haven’t).  On that day we decided first and foremost to get serious about retiring ASAP.  We went on to decide that we would need 80k a year and $2.5 million in total to feel comfortable.  Large numbers to be sure.  […]

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From College Broke to Exit Young

There are plenty of feel good stories online about how a couple decided to scrap it all and retire early.  They all have a different flavor, but one thing they have in common are comments from people who think that it was luck.  In some ways, I suppose that’s true.  We were lucky enough to be able to go to college.  We’ve been lucky enough to have reasonable work stability (aside from some short lived layoffs).  We were lucky enough […]

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Start Early to Exit Young

I have long thought that schools should do much more to prepare students with personal finance education.  It should start early explaining concepts of limited resources and the importance of saving.  By high school students should have a basic understanding of credit scores, 401k plans, and loans (especially student loans and how compounding works).  College should reinforce and expand on these ideas.  Retirement planning could be a course on its own but it should be at least included in some personal […]

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$80k

How much money will we need each year in retirement?  That is the question we’ve struggled with the longest.  It is also a huge determinant of when you’ll be able to retire.  I can’t even say we’re done tweaking the number, but I can say we’re close and $80k feels about right.  80k is a big number with lots of play room in it.  But I still worry it’s not enough. Heath Care My biggest concern by far is heath care.  […]

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The 4 Percent Rule

What is the 4 percent rule?….Well great question! The 4 percent rule is a common rule of thumb for figuring out how much you’ll be able to spend each year in retirement given a known quantity of retirement savings.  For example, if you have $1,000,000 in savings, the rule would say you can withdraw $40,000 each year.  A variant of this allows for increases over time to match inflation.  There have been a number of studies against historical performances of the S&P 500 that […]

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Keeping Up with the Joneses

Most everyone can relate to some level of envy or longing for the things you don’t have.  It’s a struggle for anyone, but in the Financial Independence community I think its at another level.  Don’t get me wrong, we have nice things.  Nicer than we need in many cases. Mrs. Exityoung and I have made a decent living for a while now.  We know that we have made more than most of our friends.  Yet we envy some of the spending we see […]

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The Mission

Since we were married, Mrs. ExitYoung and I would occasionally look at budgets and discuss income, spending, retirement.  What do we want to do when we retire?  Travel the world of course.  Isn’t that what people do when they retire after all?  Ok so we need $100 to $150k+ per year in retirement.  That’s somewhere from $4 million to $5 million to get there safely right?  4 percent rule be darned (I’ll get more into this later).  Our retirement planning was […]

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The Revelation

I have always thought about retirement.  I knew I would never be one of those people that loved their day job.  Since graduation from college, before starting my career, I remember thinking I wanted to retire.  I’ve saved from the beginning.  Often daydreaming about an early retirement and the unfathomable savings it would take to achieve.  We got married a little late, had a baby girl even later (she’s now 1).  Luckily my wife generally shares my frugal tendencies.  We’ve saved well together and […]

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The Beginning

Wake, work, sleep, repeat.  This site is for those who are looking for something better, something different.  Or at least anyone interested in the successes and failures of a young family trying to quit the rat race and figure out what’s next.  Follow our journey toward… some call it “early retirement”, others prefer “financial independence”, but we like to call it “Exit Young“.  In this blog we will detail our path to date, our recent revelation, and progress toward our goals (as […]

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