How To Retire Before You're 18 Years Old

Even if you're currently over 18, this guide will teach you how to retire in a few years.

This is easier to read on the Google Document I made.

There is also a great video I made about this here: https://www.youtube.com/watch?v=r6y_9qTGm54&t=1s

INTRODUCTION

Most people have hopes of retiring at 65. More ambitious people plan to retire at 30. But what if I told you that if you start early, you can actually retire before you're even 18?

HOW MUCH YOU ACTUALLY NEED TO RETIRE

(Hourly rate * Hours * Days worked - Expenses) * ROI - Taxes = Gross income

Taxes = State Income Tax (5%) + Federal Income Tax (12% (11,001-$44,725)) + Capital Gains Tax (15% (Single: $44,626 to $492,300))

($25 * 5 * 310 - 0) * 1.1 * 0.68 = $23,375

You need $250,000 to never work again, but if you just work one hour every day you only need $200,000. (25×1×365×0.68 = 6205) Keep in mind that this is if you make $25 an hour and don't make any money passively. If you can manage to run a business, you could make money even when you aren't technically working. (you would have to outsource the work) You can learn more about this by reading The 4-Hour Workweek by Tim Ferris. I'll have a link to a book summary in the description.

Cost to live in Thailand for 1 month

Airfare

Free (AMEX gold card and Chase Continental Airlines card)

Housing

Penthouse apartment: $550

Food

5-star restaurants twice every day: $540

Education

Two hours of private Spanish lessons (5 days per week): $200

Two hours daily of private tango lessons with two world-class professional dancers: $200

Muay Thai lessons (6 hours per week): $400

Transportation

Subway pass: $75

Total cost

$1965

CONCLUSION

This means that to vacation in Thailand for 1 year you need about $25,000, but because you should also save money you would need about $30,000. Most people think that you need $120,000 a year ($10,000 per month) to life a lavish lifestyle, but in reality you only need a 1/4 of that.

Maximize income

High profitability:

For high profitability, you need low costs and a high profit margin. You can get this by selling an information product (such as a course) because it is practically free to make, and you can sell it for hundreds of dollars of pure profit. You can then do what I'm doing and create YouTube videos, which will generate free advertising and trust between your prospects.

High scalability:

Information products can be infinity scaled, they have minimal costs.

ELIMINATE EXPENSES

Use the 90/10 rule and save 90% of the money you make. When you're young, your expenses are near-zero, meaning that you can save dramatically more than older individuals can. Use this to your advantage.

COMPOUND PROFITS

Invest in index funds. I'll save you the research, just invest in the S&P 500. The value will go up and down every year, but if you leave it for long enough, it will (because it always has) go up. The S&P 500 gives you (on average) a 10% return on your investment every year. The only safe way you could get a higher return is by investing in your business.

Maximize productivity (Bonus)

To learn how to maximize your productivity, you can watch these videos:

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