Howyoudoin wrote:What's the point in retiring in your 30s if all your mates are still working?
That's a serious question by the way. I'm certainly aware of a few 'youngsters' who have completely gone off the rails when a few million has landed in their laps. Whether that be by lottery wins or inheritances.
If someone gave me £10m, after buying a new house, car and boat, i'd probably spend the next two weeks in the pub.
What makes one person different to another person? Guess if you come from money, it will be easier for you to deal with but there's no guarantee of that.
There aren't many super rich people that haven't succumbed to drugs, so what makes you any different?
So what if your mates are still working? I never socialised with my friends during working hours anyway.
The big problem as I see it is that jealousy can all too easily rear its ugly head, so what I did is create a fake job (self-employed) so that it appeared that I was still working. It's relatively easy to do this as long as it is plausible that you can work from home. After a few months people will stop asking you about it beyond the usual pleasantries.
I'd suggest that those of us here on TLF who have taken early retirement, or are contemplating it, aren't likely to go off the rails. For one thing we've probably made most our money though work and investing it, so we have a different sense of value to someone in their thirties who has lived from paycheck to paycheck who wins the lottery or has a major inheritance. If someone gave me £10 million I'd still shop at Aldi and Lidl, I'd soon have a bigger portfolio and my one luxury would be buying a racehorse, or rather shares in many racehorses - with an extra £10 million that would be affordable (remember the general rule, "never invest in anything that eats").
Here's a fairly lengthy thread on dealing with very Early Retirement (mine is the fourth post in).
viewtopic.php?f=30&t=3214As mentioned previously by several of us, a key part of the solution is containing your costs. People who like to have a new car every year and buy flashy stuff to impress the neighbours almost certainly aren't going to have the discipline to retire early. But those of who do aren't going to become drug addicts or wasters (since I retired I've passed three degrees). This doesn't mean that you have to live a bargain basement lifestyle, just be a bit careful about the major expenditures. I live the rural lifestyle of someone earning roughly £30,000 a year before tax (way above average salary in my part of England), who doesn't have to pay the mortgage (or rent) and doesn't have any of the costs associated with going to work (which can be substantial).