Author Topic: I could retire tomorrow...  (Read 4060 times)

lordmetroid

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I could retire tomorrow...
« on: August 20, 2016, 08:29:54 AM »
I am 33 and I could retire tomorrow if I dared to!

All I need to do is sell my 100 sqm(1000 sqft) house, sell the car and then rent a 1 room apartment in the city for about a 1/3 of my current living costs. I am not a materialistic person, all I want is a roof over my head, heat in the winter and a couple of meals a day. I have no desire to own anything other than a bed and a computer.

I have lived in my house for about 2 years and while I like the privacy of a house. Maintenance and gardening is definitely not something I care for. I built this house from scrath with my own hands and it took me almost every weekend for 3 years.

I am really really really tempted to sell the house in order to liquidate and live. However, it feels like my mom and dad would not approve of me selling the house. I had a lot of help from my father building the house, granted I have also helped my father build a couple of house which they sold. But I feel I have some kind of obligation and guilt to keep the house. Even though owning it forces me to be miserable and chained to a job.

trailrated

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Re: I could retire tomorrow...
« Reply #1 on: August 20, 2016, 08:36:04 AM »
owning it forces me to be miserable and chained to a job.

I think you pretty much answered for yourself, but I will end with one of my favorite quotes (replace success with contentment, you get the idea). End of the day it is up to you but...


"“A person's success in life can usually be measured by the number of uncomfortable conversations he or she is willing to have.” -Tim Ferriss

oldtoyota

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Re: I could retire tomorrow...
« Reply #2 on: August 20, 2016, 08:58:00 AM »


I am really really really tempted to sell the house in order to liquidate and live. However, it feels like my mom and dad would not approve of me selling the house. I had a lot of help from my father building the house, granted I have also helped my father build a couple of house which they sold. But I feel I have some kind of obligation and guilt to keep the house. Even though owning it forces me to be miserable and chained to a job.

You say selling the house would mean you would live. You answered your own question.

SwordGuy

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Re: I could retire tomorrow...
« Reply #3 on: August 20, 2016, 12:58:54 PM »
I "officially" quit doing exactly what my parents wanted me to do when I moved out their home to go to grad school.

On some topics, I had quit doing what my parents wanted me to do years before.

That's why I am not miserable as a doctor.

That's why I've been married to love of my life for over 33 years.

Your parents get to live their life the way they want to.  They don't get to live YOUR life the way they want to.

Sell or not, but do it because that's what you want.

Shiernian

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Re: I could retire tomorrow...
« Reply #4 on: August 20, 2016, 01:53:55 PM »
You need to listen to yourself, not your parents (as you know). However, I'd like to know how long ago you made the decision to sell the house. I think the longer you have had in mind to sell it, the more likely it is that you really want to sell it and have roommates again.

Another alternative is get another job and keep the house. Don't tie the fact that you dislike your job to the need to sell the house; those might be different issues if you can get a job you like.

Metric Mouse

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Re: I could retire tomorrow...
« Reply #5 on: August 20, 2016, 02:27:08 PM »
Congrats on being so close to freedom! If you're more miserable making your parents upset than you are at your job, the job can't be that bad. Good news is, whenever you decide you're really ready for FIRE, you can!

big_slacker

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Re: I could retire tomorrow...
« Reply #6 on: August 20, 2016, 03:24:40 PM »
So the house is paid off and now worth enough that if you sell your stache will be big enough to live off of and still GROW?

How many years is this advancing you? 5 or 20?

Will you ever marry? Would you maybe want to be back in the house but now be priced out?

I'm sure there are a lot of these types of questions other than the ones above.

I'd think carefully about selling a personally built, paid for house. Not that I wouldn't sell it, but I'd really want it to advance me far enough that I could afford to not just barely squeak into FI but really be solidly there and not have to go back to work period, ever.

On the subject of parent's expectations I'll buck the trend and say yes you should be considerate of their feelings and take that into account when making the call. I don't mean you should not live your life or be miserable because they wouldn't make the same choice. I'm saying parents are a part of your life, and you at least owe a conversation with your dad about why you want to sell it considering the fact that you built it together. Maybe he'll disagree and that's fine, but you'll at least have explained where you're coming from and possibly he will too.

BTDretire

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Re: I could retire tomorrow...
« Reply #7 on: August 20, 2016, 04:01:39 PM »
There is no mention of your stache.
Would your house sell at a profit?
Did you enjoy the house building enough to do it again?
Could you sell the house, find a property, live in a cheap
motor home/mobile home on the property while you build another
home. Then sell the house, and repeat.
 Remember, as long as you live in a home two years, the profits are tax free.
Check all my tax advice with a CPA.
Just one possible way to go.








clarkfan1979

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Re: I could retire tomorrow...
« Reply #8 on: August 21, 2016, 12:17:10 AM »
Could you rent the house to test it out?

PFHC

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Re: I could retire tomorrow...
« Reply #9 on: August 21, 2016, 12:25:17 AM »
“A person's success in life can usually be measured by the number of uncomfortable conversations he or she is willing to have.” -Tim Ferriss
That is a bad ass quote. So is the Bukowski quote in your signature. Well done.
« Last Edit: August 21, 2016, 12:29:52 AM by PFHC »