I was at my estate lawyer's office the other day drafting up a family trust fund. By looking at the numbers, he asked me, "How the hell you got a couple of millions of networth, not even counting your life insurance.. You are not even 40 yet... most of my clients are in their 60's....".
So i told him a trick that you can indeed live off very little if you are willing to give up.... STABILITY.
In my 20's, I picked up a job to be a full time road warrior and traveled from city to city. I moved all my junk into my parents garage and lived off travel reimbursement and no more than 20% of my salary. On weekends, I crashed in with my mom and dad so bless their hearts. I made a ton of money. By age 26,I was making over $80K and by age 28, I made over $100K . Besides buying investment properties, creating side e-commerce business and stocking up on 401K, I also helped my parents to buy a house, paying down their debt, etc...
Granted, I was single and had the luxury of freedom to bust my ass and worked 70- 100 hours a week on average for about 10 years. The reward is substantial though.
I am still working. I tried to take a year off to do whatever I wanted when I was in my early 30's.. But the lack of schedule and social connection made me uncomfortable so I am still working in corporation. I love my job. Love my boss. Love my coworkers.. So I think I will stay that way for a while, generate some more income to pay off some large investment loans and make sure my parents are well taken care of.
Bottom line is, regardless how you get there, some big trade offs must be made, whether letting go most of the consumerism stuff or work until you've gone mad... Nothing comes easy..
I do my financial assessment sheet once a year (due to compliance reason with my banker). And these numbers remind me those bloody years I spent on the road, those restless nights that I spent reading about investments. So many great fun spring break opportunities or group travels I have given up... But knowing that my family (my wonderful hubby, my girls and my parents) will be taken care of even if I am gone tomorrow gives me great comfort.