As more people look to retire early (<60), more people are looking for shortcuts in order to get to early retirement quicker.
It’s understandable that in this day and age of instant gratification, young folks nowadays aren’t willing to grind it out for decades like previous generations.
Instead of building a large enough passive income portfolio to cover a comfortable lifestyle, I’ve noticed more people are willing to retire early to live in or near poverty!
I can empathize.
When I was 25, the 9/11 terrorist attack happened. This terrible event ignited my quarter-life crisis. I seriously thought about retiring with ~$400,000 due to some lucky investments and moving to Hawaii to become a fruit farmer on my grandparents’ under-maintained farm.
In exchange for clearing brush, watering trees, and doing general upkeep on the house, I could live for free and make some extra income selling mangos, papayas, and pomelos down the street. The farm was only about eight acres in Waianae, a rougher part of town.
Then I slapped myself silly and told myself to buck up. Throwing away a perfectly good career in finance so young was incredibly stupid. So I gutted it out for another 10 years until my investments could generate about $80,000 a year and cover my desired living expenses in San Francisco.