Four Ways To Quit The Rat Race

[@helmethead72]

We found another way to quit the rat race 5 years ago. I sold my house, we quit our jobs, paid off our debts and set off in the car with everything we could carry, the rest we put in storage or sold. We then set off on a road trip across Europe in search of somewhere to begin a new and satisfying life. After several months and 20 countries later, the trip of a lifetime in itself, we found a new home in rural, tranquil Bulgaria and have been here ever since. The cost of living here is a fraction of what it is in the UK, we have a 4 bedroom, detached, fully renovated house with outbuildings, a vineyard and enough space to park 30 cars for the price of a new Ford Focus. We have no mortgage, no rent, minimal taxes and zero intrusion into our lives from the state. We have not had to work in the conventional workplace since 2011 and have already had 260 weeks or over 50 years holiday time from the societal norms we grew up with. Is it Utopia? No, but it is infinitely more enjoyable and rewarding than the one step forward and two back that we had before.

[@schto173]

helmethead72 basically you take advantage of the fact that in a poor country you can live like a rich person. Nice.

[@SanRemoMotelBar]

@@schto173 Perhaps he does, but one doesn't have to. The possibilities you have with surplus savings from comparatively cheaper living costs are endless if you're strategic, careful and willing. Lots of people create businesses, fund effective charities, volunteer. Conversely, living costs in the UK mean many people work lots whilst saving next to nothing, with little free time to reflect or find alternatives, let alone actually live a quality life full of activities.

[@capooleg]

May I ask you, do you work remotely now? How do you keep your savings balanced?

[@raquelcortez0106]

I want to live like you

[@Underhills]

Or even better, pay off debts and keep the home.

[@AStreaminLife]

My husband I are "quitting the rat race". We've been living simply and saving like crazy for many years now. We sold most of our things and our house and moved into our Airstream Travel Trailer. In 2017 we'll hit the road full time to travel and see the country. Through frugal living and dedicated savings we can devote ourselves to the things we love to do rather than being chained to desks we dreaded going to. It can be done with the right motivation, dedication and a little luck.

[@gardensofthegods]

AStreaminLife Yeah but what are you going to do when the money gets low

[@danwekoya9735]

Hello, did you get to it?

[@prashantb8281]

Where are you now?

[@thinhdoan3373]

The 4 Ways to Quit the Rat Race: 1. Unjobbing 2. Intensive Saving 3. Passive Income Business 4. Sell a business

[@mecaemalestacuenta]

Thinh Doan thanks for the summary!

[@JB-wx4wo]

thanks!

[@Νικόλαοςαἰσθητικός]

5. Be completely debt-free

[@filipbuczynski9905]

Thinh Doan thanks, you saved 1h of my life

[@choosetoshine2610]

Thanks so much

[@9catlover]

i just bought the book 'your money or your life' i actually quit a full time job i hated and stayed there for 7 years. now i'm a contractor i earn so much more, so i could learn a thing or two about saving and being frugal. It's great quitting what you hate and realising there are better options, and sometimes all that was stopping was fear.

[@IamSpiritful]

You are my role model. I wish to become like you some day.

[@jay-rus4437]

cindy chan ....you and i have a very similar experience. Once i got over the fear (which was unfounded anyway) and simply walked away from a job that i hated, and starter my own business, i have now found that i earn even MORE money and only work 3-4 days per week now. Much more family time, and have a better financial position than before. We also live on less than we ever did before too. Smaller house, used vehicles, and NO credit cards. Life is much less stressful now.

[@DadManDoes]

skip to 7:50 to actually get started

[@sandeshdsouza7337]

Thanks for mentioning this. I did exactly that and saved 7 minutes of my life :)

[@ashleyhanks3687]

Jim Dubya thanks

[@desper7350]

Damn I saw this too late

[@ianwynne5483]

Thanks for saving me 7 valuable mins of my life.

[@dusk2dawn55]

Thank you SO much!

[@SERGUMUM]

I do not buy more than I need, get second hand cars for 4500 Euros, not getting in debt, only investments debt if so. I move to a small village and left the big town. Materialism is wrong and make us lose humanity.

[@Tundra0128]

Sometimes i wonder if life is only about working and making money. You only get 1 life and we use it chasing after paper for 30 to 40 years

[@mysticaltyger2009]

But for many people, it doesn't have to be that way. Shun the overconsumption that passes for normal and most people wouldn't have to work "chasing paper" for 30 or 40 years if they didn't want to.

[@danpt2000]

mysticaltyger2009 i saved 60-70% of my paycheck for years. i can quit and do what i want, but boss man says. please stay for a few more months.

[@mysticaltyger2009]

Well, if you can afford to walk away and don't; then that's a choice on your part. Maybe you like your job. Or maybe you're having trouble figuring out a sense of purpose outside the world of paid employment????

[@Purplecolors88]

@@mysticaltyger2009 employment is a pyramid schem! Scam!

[@deericcio3379]

we did the work work work thing for years, house , kids, cars, etc , and didnt save because we helped pay for kids educations , colleges, so we ended up selling everything and paying off all debt , I mean , no credit cards or anything, we have a small savings and a manufactured home paid in full , I am now able to do #1, I unjob, I do errands, shop for elderly, pet sit, house sit, weed gardens, on my own , no boss, work where and when I want . I DO live super minimal and frugal , and grow alot of my own food, thrift stores, .. etc , dont use a car much , bike and walk , alot you can do to not spend alot of money , I have more time , way more freedom .

[@dabprod]

Dee....Good on you. You figured it out on your own. No student loan, no boss. Most people would never consider what you've done because they "care/worry" about what other people would think about them. Most people think what you do is "beneath" them. Its true, I've seen it myself. My life was unconventional to say the least too. But it worked for us. Old now, but very comfortable in a home we own for over 30 years on a lake. Wife has a business that she works out of the house for 25 years and a six figure income and we both draw the max SS. Neither of us went to college.....ever. NO debt and enough savings and investments to last us the rest of our lives. It can be done.

[@gardensofthegods]

Dabprod I'm just curious.. can you tell us what is the business that your wife owns... what does she do ?

[@CWTGD]

My kids not going to college fuck college it’s a rip off.

[@craighoyer6543]

"How rich do you want to be?" my high school English teacher asked. It was 20 years after graduation, he had quit teaching and started selling real estate, and was trying to fine-tune a get-rich-through-real estate seminar. My wife bought into his ideas, we bought a triplex by refinancing our home, bought three other properties, and now, although divorced, we both have enough to retire early with modest income. Note that our first home cost $44k in 1989, making entry into market possible. Stigletz said it: go for rental income, like the big boys.

[@larryboatright8456]

smart man i bet the wife is poor

[@IamSpiritful]

Go the minimalism route.

[@GarryBurgess]

An improvement over the rat race is the life that humans had for hundreds of thousands of years as a hunter gatherer. Making a house in a few hours, having all your work as directly meaningful, and being free to choose your activities for the entire day.

[@gardensofthegods]

Garry Burgess Garry, I hope you're being facetious , my friend .

[@lpdleoni3850]

We not design as species to in

[@HIGHLANDER_ONLY_ONE]

Thank you, I love the idea of these four points. I'm looking to get rid of all things that I don't believe in; working at home, decluttering, so shopping FAR less, for things I don't even need nor want. L I'm looking forward to minimalizing, and decluttering generally, and yes, the money. However, no one talks about ALL the YEARS we human beings WASTE in our school system. I have homeschooled my oldest child, and without ANY effort, she finished high school at 14. She started college a week after turning 15, finished her associates degree at 16, and graduated with a bachelor's degree right after turning 18. All with honors, and with very little effort she says, and she doesn't consider herself to be a genius, but that she was motivated to finish school. Now she owns her own business, and is debt free, and she is 27 years old today. My point in all this is, WHY does it take so many years to learn the basics of anything. It takes 100 hours to teach a child all they need to know in math, up to high school level. Our schools don't educate, they school, and they give tons of homework, while many studies, including one in Canada, have shown that homework don't help kids, until they're in high-school, and that's not always. In lower, and middle school, homework ONLY helps, IF that child is struggling with a subject. When kids have spent most of their PRECIOUS childhood times, they start college, and not only are they wasting their time, but in HUGE debt, a money they don't quite have yet! Now we have college graduates owing roughly $60,000 or so, depending on what they studied, and most end up not qualified, don't have experience, or there's no job waiting for them. WHAT A WASTE OF HUMAN BEING'S TIME! These are years you'll NEVER get back!!! We were NOT created for that "sit in a room quietly". That is NOT natural! The school system we know today, is very new, and was created for the industrialized era. So, although it is a young system, mist people accept it as the ONLY way, although the school system as we know it we act as if we CANNOT live without it! Please do NOT think that I'm saying not to send your kids to schools at all, I'm saying, "WHO ARE BENEFITTING, FROM ALL THIS MADNESS - IT CERTAINLY IT'S NOT THE CHILDREN!" We need to completely DISMANTLE the current system, and integrate a new one, which takes less time - a lot less... Most parents will go CRAZY, because they need the school to babysit their children, especially g it's feeding them, and raise their children for them... If the kids got more vacations, they learn more by experience. Yes, not everyone could stay home, they need to be babysit their children, but it's nice if parents could choose. Know EXACTLY what to do actually, but I don't have time to explain it all. I may know that this system HAS TO CHANGE... We need to reclaim our children back, and spend more FAMILY time together. 😊💙❤💙❤💙❤

[@hamsterama]

Your post totally rocks! Especially your comments about homework. What a waste of so many hours of my youth. So many evenings reading novels I didn't like, doing a ridiculous numbers of math problems every day, writing essays about subjects I didn't care about, answering dumb questions out of textbooks, etc. And all that for what? It has no correspondence to anything I do in my real-life job. I work in accounting. Everything is done in Excel. I wasn't taught how to use Excel in school. So, how did doing all those endless math problems help me? It didn't, because that's not how numbers are crunched in the real world. When I was in high school, I was unable to do anything useful, like get a job or acquire useful skills, because I was too busy doing stupid homework to get A's. I graduated high school in 2003, so I don't know if things have changed since. I'm guessing things are still the same.

[@normmacdonaldrules4602]

School taught you how to become an employee. It isnt WHAT you did day in and day out in school...its THAT you did day in and day out in school. Congratulations...you are a champion of completing tasks that marginally benifit you. Just like you did then...so you do now.

[@fmartin59]

Yup. They're the same.

[@fmartin59]

BEST POST EVER!!! I felt like I could have finished high school at 13 were I given the option to self-study and still performed better than most people. I felt like I wasted over 8 years in school. My connections with my parents are weak. School and modern jobs just cut too much into the life that actually matters.

[@CzechRiot]

I spent most of the time in school either talking to other people in class (specially in large classrooms where you can be way out in the back and not really disturb the teacher), or daydreaming, thinking about stuff I was going to do afterwards that day, or in the distant future, or checking out girls, or drawing. i would normally have poor grades in first tests, because I didn't really study, but when I got the low grades it would become sort of a challenge to compensate in future tests in order to pass, then I would actually read the material with proper attention for the later tests and would do well. It is true, the schooling system is designed for the masses, and it's main idea is to "form citizens", which is basically to condition people to behave and obey, limiting their activities and personal proclivities.

[@FullStarSky]

planting your own food is one way to be free. and it has a lot of fun also

[@300pzl]

The system doesnt want you to leave.

[@Νικόλαοςαἰσθητικός]

300pzl yeah, if you’re in debt

[@kajallison8896]

Facts

[@LukitoPerkasa]

4 Ways to Quit Rat Race - permanent portfolio: passive investment strategy that has fixed investment in a number of different asset classes with rebalancing. 4% safe withdrawal rate - being financially free is not necessarily rich, not a high consumption lifestyle - being free to do what you want not sitting and watching TV, but doing things that fulfilling 1. Unjobbing if you are in a job that you hate, and choose to leave that job to pursue what you love. Consequences: income level affected, have lots of different jobs rather than 1 job, live frugal Not a situation where you have investment income that you can live from. You are working to support yourself, but the idea is not “work” but to do something that you really love You need to be aware to keep finding ways of getting that income in, there are pros and cons 2. Intensive saving Saving until certain amount, quit the job, live from the interest, live very frugal lifestyle Intensive saving = >50% of income Assumptions: save >50% of income can retire in 16 years, 75% can retire in 8 years relying in compounding interest save 3,000 dollar every year from 21 years old and earn 8% after inflation, how much you’ll get at 65 years old from the compounding interest? over a million dollar After retire: live from a safe drawdown rate = a sustainable rate you can take every year without running out of money in the end, consensus figure is 4%. You will earn more than that 3. Passive income business Do a lot of upfront work to create an automated business (don’t have to be there every morning, to directing people and organizing everyday), could be online, property. Live from the long term income provided by the business 4. Selling a business create a profitable business and sell the ownership of it. but this is hard, it is rare to find someone who wants to buy a biz Quitting a rat race is unconventional, unusual. It needs courage to do it. creating more value than you are consuming it. needs a network to do any of approaches. you have to find purpose if you want to do any of the lifestyle

[@amankwahisaac1748]

21:47

[@mysticaltyger2009]

37:30 he gets into why most people won't quit the rat race. People are herd animals and don't want to go against what everyone else around them is doing. In order for this to work, you have to think normal sucks and then do something about it. Most people complain, but don't really want to do anything different.

[@workingshlub8861]

try to live debt free..no car loans ..no credit cards etc... you cant really quit the rat race but you will have alot more financial freedom.

[@geot4647]

Camera operator: pan right to show the screen vs. empty space on left.

[@GoodLightGoddess]

I know right!

[@SenorJuan2023]

You'd think even an average intelligence amateur would know this. SMH

[@bsdiceman]

Too late

[@TheMcNeillsonWheels]

My wife and I quit the rat race in 2018. We now live in a caravan and work minimum wage jobs. You may argue that we’re still in a ‘rat race’ of sorts, but the work we do now isn’t stressful and we’re not tied to paying a mortgage. Also, the past two years we’ve spent one third of the year travelling and enjoying ourselves. This year, with the pandemic, we’ve not had to worry, despite me being out of work. We’ve not saved, but we’ve not drawn out, either. Check us out here if you’re interested: HD Living full time in a caravan in the UK: 2 months in!

[@coachmariotabone]

These points have some merit in certain situations, yet I prefer to have an Abundant belief rather than a limited belief. I and all of my clients have achieved freedom from a JOB by following these simple yet challenging steps. 1- Get clear on your min monthly income to cover your lifestyle (do not sacrifice to much) and expenses. 2- Do your best to minimize spending money on the things you don't really need. 3- Research what actually makes you happy and look at all the skills, talents and passions you have or have ever had. 4- Next start looking around to see how are other people making money from these simular skills, talents and passions. 5- Then pick 1 of these ideas you think you would enjoy doing daily if you could actually ever find a way to make it work. 6- And lastly yet most importantly you must find the right team of people to help guide you to get there. That's it really. I did this myself and have helped many clients over the years do the same. Everyone has a natural strength or passion that they can turn into money. Eg: A client of mine who is disabled and stuck at home in a wheel chair with speach challenges has started an online business selling ebooks on life hacks for people in wheelchairs. Anyone can create an income and quit working in a job. Don't put up with a JOB if you can make money from your passions. Turn Your Passions into Profits and Love Your Income....

[@DevarySS]

Starting a business, to my view, isn't too different from working like crazy and trying to save up a bunch of money up front and retire early. Entrepreneurs work very very hard for other people's needs and agendas. I also think it's important to attach to yourself to projects that aren't your own all the time. It's spiritually healthy to be on the team and not the captain for a certain amount of your energy expenditures. For me what is terrible about the working world is that you have to keep doing the same things in the same places all the time. I'm happiest when I've got several jobs going at a time. So I think the unjobbing thing is the most in line with my values and preferences. But the inherent problem with that is when you age you won't be able to rely on your body to make money, and other people won't want you to work for them after you're 50 or so. So unjobbing is a bit of the grasshopper view of life and doesn't take into account the greater need for physical comfort and medical issues that come later. The world is set up to reward people who sign on to the indentured servitude model, not those who want out. It's interesting that planned communities haven't come up here. It seems like a small group of people could come together to create resources that free up human capital to do something different with their lives than just put pennies in the piggy bank...

[@vivaloriflamme]

There are hundreds of intentional communities: www.ic.org/directory/

[@lordmetroid]

Except you can decide yourself how much time you want to spend working and be satisfied with working perhaps a few hours a day or per week and earn a satisfactory small amount to live a simple life.

[@TheSailingBrothers]

My brother and I quit the rat race from supermarket workers to sailing around the world with KZbin, two years later after having gone through the Panama canal, we are now just about to sail across the Pacific Ocean

[@user-ee5om8wy7u]

As a woman I can tell there is the fifth very important savings factor(at least for me) : have no children. I can only save aggressively because I am just me and nobody else. If I had children, I cannot imagine how I would save. But for those who do have children, don't give up. If I had children, I would probably encourage them to work on a side or work for me, in which case I would delegate my chores to them and pay them for that while at the same time letting them learn to appreciate the value of every dollar they earn and the value of every minute they lose as they earn the dollar. And I would teach them to start saving early from what I pay them.

[@RaistlinKishtar]

Having no kids is not a winning strategy.

[@mike.p.1400]

I agree with this man and his philosophy. But he forgot to mention one word. Responsibility. That right. Responsibility. It is very difficult to be a minimalist with a wife and 2.5 kids. For a single person it's fine and absolutely doable.

[@Abitibidoug]

Really? Obviously no one told Derek Foster who lives in Ottawa with his wife and 5 kids and retired at age 34. Nor did anyone tell Mr. Money Mustache (who has some videos posted here) who has a wife and 1 kid and still managed to retire at age 30. It's all in the intelligent choices you make.

[@mike.p.1400]

Abitibi_Doug I agree. Intelligence is key. But. If you don't have a bankroll it's hard enough to support yourself let alone a wife and kids.

[@IamSpiritful]

That's why I don't have a wife and kids, and I will never have them, ever. Wife loses her charm and beauty over time. Children will grow up and leave you one day. What's the point of enslaving yourself? I'm 28 and I'm glad I found the minimalist philosophy in my early twenties. It changed the course of my life.

[@IamSpiritful]

If you have a wife and kids to support, then it likely is too late for you to live a minimalist life. You need to think of other plans, like get better paying jobs and save and invest most of your money so you can retire early.

[@apocalypticredix8538]

agree and with you on this one...

[@PGSL-r5n]

Most people want instant gratification. These seminars have been around for a while now

[@1mansmoneyblog916]

I just took a temporary hiatus from the rat race. I quit my job of 13 years in Sept. Investing, saving & paying down debt over the past 7 years helped me feel prepared to do so. My wife having a six figure income helps. Lol!

[@skiddieleet]

Looks like you're well on your way to financial independence.

[@tyrloki5999]

How nice for you.

[@dreamingoffreedom2462]

his experience - make a lot of money and quit the ratrace - wow ingenious !!

[@kotare86]

Dreaming OF Freedom Lol

[@kotare86]

Dreaming OF Freedom Remember to invest it so the rat wheel churns faster and so other rats do the work

[@Tusker78TogetherForever]

He hasn't quit the race but is still very much a part of it;)

[@kotare86]

tusker78 It's great for him, but now he's just perpetuating the rat race with his investments

[@vanwin5415]

If you can find somewhere to live with a bit of garden space you can grow all the food you need.

[@chriselliott.4996]

Most folks I met in my life who saved did nothing are now miserable saying I should have done things when I was young. Or there kids hate them and are now spending money they saved

[@nathanielcarreon5634]

Got a govt. job, live very frugally, paid off house in 10 years and retired very early.

[@manuellisbona1927]

It would have been nice to see more of your slides. Good info though... Thanks very much!

[@Wowsers101]

buy some land live simply grow you're own food....

[@erin79]

I think about this more every passing week. And wondering where and how best to do it. Thinking leaving the US is probably necessary, but not sure.

[@maytons]

Here's the quick version.... You have to work for the advancement of the rat race in order to escape it. You're welcome. =D

[@MrDonkov]

Nice talk, learned some new things too. However, I find the first option being extremely frugal and save a lot, the least likely to pursue (except if you earn lots of money) . Todays financial situation is way too unpredictable, way too many factors out of our control to make it work. Keep it up!

[@robbybonfire23]

I am learning how to plant my own MSG, and high fructose corn syrup, so that I won't feel I have been left behind.

[@DavidTMSN]

+Robby Bonter lol

[@surfertube44]

Yes i want to get fat and lazy, oh show me the ways to grow MSG and High Fructose corn syrup and I will help all my neighbors be even bigger ass holes and non expression zombies!

[@CzechRiot]

Visit my website to buy Corn Syrup organic seeds enhanced with vitamin A, at 25% discount if you reference this comment.

[@alexcarter8807]

Having been around "off grid" AKA "survivalist" types, you guys are killin' me here!

[@bikinggal1]

now that's funny!!

[@ThePigeonmilk]

So the take away is. Start a business then sell it for massive profit so you can then see about living for yourself......

[@maganyajeffrey]

Get land. Start prosuming. (Producing what you consume). Grow your own food, build a house (possibly 50% of your rat race income). Limited transportation needs naturally.... work for your cash needs (30% of what your current income). So long as you still 100% cash centered you will still be in the rat race.. albeit at s lower level.

[@thatisabsolutelykooooge2211]

Best way to rise through the ranks is to pool money together with like-minded people (such as the people watching this video/at this presentation) and then investing it. Why not buy land and, say build multi units so you can live in them mortgage free? Although you still gotta pay for property taxes, homeowners insurance, and maybe HOA, that’ll still be cheaper then just paying rent depending on all of the variables. My point is, buying land and building your own property and teaming up with other people can be significantly cheaper than you alone buying an existing unit

[@toddlavigne6441]

Of coarse you can quit if you sell your business for ( probably millions ) sounds like this guy's situation was rather unique. Not everyone can do this. Most businesses fail let alone become profitable and get sold for a healthy gain.

[@cheekymonkey3929]

it still is ...ha ha 😀

[@heykevinb]

whats interesting is when faced with this possibility...many ask, "but, what are the risks of being more self sufficient...the risk of starting your own business?" ...the question that isn't asked, "what are the risks of STAYING at the job" we all know the NET income involved as well as the amount of deductions that many may not see...since the retirement age keeps getting pushed farther out. all the usable income isn't available, since it's DEDUCTED. i value work, but i've already done that...with gain and loss. businesses do fail, but YOU and the rest of US KNOW NOT of the WHY...the media is incapable of telling you the why you can start any business for a year and list that shit in a monthly publication for a lump sum, you literally do not KNOW what businesses have and have not sold for a healthy gain.

[@cheekymonkey3929]

***** it's 50:50🙏

[@shitmandood]

I have to agree. Selling off a company for millions doesn't really give a good starting point for the rest of us.

[@mysticaltyger2009]

The key is to work both the income side and the expense side. Keep your income as high as you can get and your expenses as low as you can get. That means you won't be living the typical lifestyle of most other people in your income bracket. FYI, the expression is "Of course". "Coarse" means rough.

[@Londonfogey]

Good talk thank you. Some other books worth reading are 'How to Survive Without a Salary' by Charles Long (out of print but available second hand on Amazon) and 'The Quest of the Simple Life' by William Dawson (available free for Amazon kindle).

[@1234kingconan]

I also went to music school for classical guitar. I graduated in 2008 with my bachelor of music, and subsequently the economy tanked and I didn't have much work. Now I'm working towards FI. I thought I could find satisfaction in another career, but even though the topic is interesting it turns out the companies that employ my skill set are all very awful and boring. Little did I know. I guess I was naive. But anyway it's not all doom and gloom it has its interesting moments and I'm well on my way to FI.

[@sky-fg3wv]

Why cant we consider stock market as buying a bussiness?

[@neptronix]

Dude, you're awesome.. can you put more of your stuff on youtube? i'd donate to a patreon or whatever else if you are willing to.

[@AdamSahr-cj4kf]

Intensive saving no longer works because you are not actually protecting your money's worth and interest rates are extremely low these days. There are total idiots who jumped on the property bandwagon in the early 2000 and have very good equity today if they haven't cashed in yet. Basically savers have been financing real estate risk takers.

[@AnotherFineDecision]

How can you save 75% of your income if state, federal, SS, and medicare taxes are already greater than 25% of your income? Then include mandatory health insurance. If you are childless and married, maybe this intensive savings is possible- otherwise, it's NOT.

[@larryboatright8456]

AnotherFineDecision stay in ur car

[@nathanhaltman7235]

Savings rates are usually based on after tax income.

[@JohnVanMeter58]

8% He lives in a different world.

[@Mcf412]

John Van Meter ever heard of the stock market?

[@icawn]

nearly half the folks in my small town have quit trying to succeed and work a simple part time for min wage, up to the limit of still collecting welfare. with the middle class getting shafted right now, they'd have to climb the ladder high enough to offset these perks, so they don't bother. pride is less important these days, particularly when you can escape your shame in an online virtual reality.

[@coachb2766]

icawn exactly. I play computer games every day. Am on the dole, yes. Just got offered 2 full-time jobs. Neither one would pay much and I might've lost the SSI .Was barely able to get it. Not worth the risk. I'll try wartime work to save a few dollars first. I will go back to work full-time one day.

[@derrickmcdowell9791]

Are you a real estate investor?

[@PilsnerLager]

It looks like you're single, which helps IMMENSELY.

[@tinahalle3575]

Only because we have kids to buy for and you men knocked us up lol. Shit, I’m all for living a simple frugal life but .... kids . school systems in poor parts of town suck .... which means yes, we need to live in the better parts of town where the homes cost a little more . Sheesh , way to stereotype .

[@tinahalle3575]

I think maybe women should just stop letting men knock them up 😆

[@LarryCuckman]

@@tinahalle3575 men get the short end of the stick either way.

[@monocle8868]

Safe money; Buy three houses or apartments WITHOUT mortgages; Rent out two of them and live in one. Then, do whatever you want with your free time.

[@tobyholland7577]

Yeah or just save money and not buy expensive cars? Also small houses can get you far!

[@praguhbis]

He looks 60 years old now after quitting his job

[@kabunga5056]

😂😂

[@realestaterene]

Thank you. Very much enjoy this presentation. Great points. Sacrifice and delay gratification in order to live your life according to your values. Well done.

[@codebreaker7844]

There is one thing that they didnt tell you - buying stocks

[@SturFriedBrains]

I enjoy economics and finance, so the plan is to make long bets for big bucks yearly, and small bets daily for spending money. I saved like crazy to get enough money to trade with any substance (I don't believe in margin trading.) I'll be released from my contract in May, have some big bets in the works, future is looking good.

[@graywilliams_77.]

Retirees who struggle to meet their basic needs are the ones who could not accumulate enough money during their active years to meet their needs. Retirement choices determine a lot of things. My wife and I both spent same number of years in the civil service, she invested through a wealth manager and myself through the 401k. We both still earning after our retirement.

[@susannicky]

It's unfortunate most people don't have such information. I don't really blame people who panic. Lack of information can be a big hurdle. I've been making more than $675k by just investing through an advisor, and I don't have to do much work. Doesn't matter if the economy is misbehaving; great wealth managers will always make returns.

[@susannicky]

I definitely share your sentiment about these firms. When I was starting out, I checked out a couple of freelance investors online, so you could do the same. I personally work with JENNY PAMOGAS CANAYA“”, and she's is widely recognized for her proficiency and expertise in the financial market. With a comprehensive knowledge of portfolio diversification, she is acknowledged as an authority in this field.

[@stevenoverlord]

This was great no filler thank you👍🏽

[@KIERNAN100]

quit the rate race and get up early on a Sunday

[@ConanDuke]

Subtitle: For privileged middle class people with high-paying careers.

[@Emma-nu4bh]

Thank you for posting, great information and resources.

[@bdflavors1347]

sucks that interest rates are negative so a 4% assumption won't work right now. I really wish it would.

[@mikemaclean6704]

Over time it's actual more then 4 percent market will go up and down but over the life of the market it's more like 6 to 7 percent

[@Vention1MGTOW]

I love the idea of the permanent portfolio. If I were starting one right now though, there's no way I'd buy stocks though.

[@kurtknapp904]

I like the idea of Warren Buffett's "Permanent Portfolio". 90% of your wealth in Vanguard S&P 500 index fund, 10% in short-term bonds. (the bond portion being the funds you use during a stock market crash so you don't have to sell low). This is what he has set up for his wife when he passes

[@ljavierg18]

nice to see one of my favorite mgtow in the comment section

[@johntheaccountant5594]

Clearly the guy did work at some time and built up enough capital (probably lived in the south and made his capital from the increase in value of his house).

[@babblingidiot7903]

So, we would like to quit the rat race, just to get back in a different format rat race?

[@burntrubber7458]

"Unjobbing" is foolish. Even if something is your passion you are still Working.

[@WaynoGur]

Can't watch. No captioning. Please consider adding captioning to the videos for the benefit of those of us in the Deaf and hard-of-hearing community. Thanks.

[@RayTutajjr]

Can't see the screen. Plenty of room on the left side of the vid. Very simple solution: pan to the right a little.

[@PunjabiSikhRajput1]

Banks don't give interest these days, you have to gamble on the stock exchanges hoping for yield, only to be wiped out like in the dot com bubble or the housing bubble and soon to come the bond bubble. Don't forget the massive inflation that is coming down wind when the central bankers of the world inflate the currency by reducing interesting rates to zero or even negative.

[@JumpingWatermelons]

PunjabiSikhRajput1 You just can't win, huh? But.... other people are.

[@PunjabiSikhRajput1]

Off course you can win relative to the population... diversify into deflation and inflation hedges... we don't know what the gods of the central bank are going to come up with next... we don't live in a free society, free country, free market, and thats too bad because if we had freedom we could do so much more.

[@JumpingWatermelons]

PunjabiSikhRajput1 Speaking of freedom - there's a book you might like on this subject: How I found Freedom in an Unfree World (By Harry Browne). You can find a PDF of it very easily if you want it for free ;-)

[@PunjabiSikhRajput1]

You know I have been meaning to read that book for years... I am a fan of Harry Browne. Thanks for the reminder :)

[@JumpingWatermelons]

Oh - it's very good - start it soon!

[@user-xn2hf9re8r]

sorry couldn't watch this so boring and repetitive - pls just get to the point

[@barendhammer3544]

If every man and woman on this planet quit the rat race, what would the world look like?

[@priceandpride]

That's why they don't teach you to be free

[@bdflavors1347]

had you not sold a business, how would you achieve this freedom?

[@gfsdgfabfsdafjsavbdfs1253]

+bd flavors Mustachianism and/or minimalism can help achieve freedom. Search YT for TEDx The Minimalists, Joshua Becker, or google mrmoneymustache.

[@danielskiba8256]

this video is great. my thing is if people cant understand investing and vehicles of investing, f-em.

[@apacademy]

That's almost an exact quote I got from a guy at Lehman Bros, right before, you know..........

you are awesome, thank you. i really want to quit the rat race.

[@lorraineanderson8896]

Message received. Thank you. Well done, and brilliant.

[@priceandpride]

Quartered portfolio sounds like a terrible idea nowadays unless you're already old

[@nolame100]

What if someone wanted more than anyting is to serve at the feet of a superior like you! Know I was born to serve, and is all I want Sir. I know inside,, I was meant to serve. I feel nothing wrong with servitude to another sir. Everyone should do what is natural to them sit. I know and crave my place. I am a slave at heart, and all I want is to serve!

[@dejayrezme8617]

How to quit the rat race: Step 1: Be smart, intelligent and competent Step 2: Be successful Step 3: Take on risks and get grey hair with 40 Step 4: Profit (Just kidding, this is a good talk and is probably directed to university students, not everyday Joes. But for 95% of the population the only option really is the first one, living extremely frugally)

[@Alberturkey54]

But buying a house? How do you buy a decent house without a full time job? From a suicidal lawyer.

[@madamestrawberry4321]

Perhaps that depends on your definition of decent housing. Check out Off-grid with Doug & Stacy channel.

[@Alberturkey54]

Madame Strawberry thanks. will do.

[@gavinwalsh5238]

owner finance land, bulid it yourself look at Earth bag earthship cob lot of alternatives

[@kotare86]

Alberturkey Check out the tiny home movement

[@DeHuwite]

Wait a minute....how'd Mr Money Mustache get an English accent????

[@JK-Visions]

for the dutch readers pls check the books of gerhard Hormann

[@dannymolfilmpie]

Compound interest?....yep thats gone

[@alfredkabura4101]

humans don't have the same warnings and life is expensive wisdom is great and our goverment should know about us i hope they know about us.

[@cherylkeller5181]

My parents had 6 kids. They couldn’t quit the rat race until we were all on our own.

[@jkairi4]

By the time you save all that money eating bread and water for 20 years, life would have passed you by without enjoying any of it, however you will certainly have enough money for burial expenses.

[@jont2576]

it doesnt take 20 years actually,i see building a investment portfolio,or building passive income or a portfolio of assets and cashflow generating assets as kinda like a snowball rolling down a snow covered hill,as the years go by,the snowball starts gaining layers,mass,speed and momentum as it keeps rolling downhill,pretty soon after 5 to 8 years,the snowball is now so big and massive and thundering downhill so fast u no longer have to put any effort or energy into it,it can easily sustain its own momentum thru its sheer size and mass,and after another couple of years the snowball builds up so much size and momentum it overtakes you completely and you can barely keep up with it,thats when u truly understand the power of time and compounding interest which according to einstein is one of the most powerful forces in the universe. yes the first initial couple of years,maybe 5 or 7 years might be extra tedious and painful,it might require supreme discipline and endurance and a whole lot of suffering......but once u get over the initial phrase of suffering,and ur investment grows to a size a critical mass where it no longers need ur guidance and input of resources and energy,whereby it can grow and sustain by itself.its like planting a orchard of trees,the trees are now grown up and mature and bearing fruit,and u can enjoy the fruit it bears for the rest of ur life.now instead of drifting thru life stagnant and going nowhere and forever stuck in one spot for years and years and forever complaining u dont have enough money always,why not bite the bullet,take the pain and suffering and sacrifice yourself for a couple of years in order to build a investment portfolio and a better legacy for tomorrow? i know a guy who has been saving and investing since he started work in his late teens,he has a bachelors degree and made an average income of 4 to 5k a month,he was a extremely frugal and disciplined investor,he saves nearly 70 to 80 percent of his income and spends less than 1k a month,by the time he was 30,he had accumulated a portfolio of nearly 800k and was generating from the dividends from his portfolios nearly as much as his job.he is now 41 years of age and investing for over 20 years.he now lives in a million dollar condo that has been fully paid and has a estimated portfolio networth of between 3 to 5 million.he generated nearly 160k from his stocks dividends in 2015,more than three times any job could pay him.he still lives a pretty minimalistic and simplistic life.im in my twenties and i can only hope to achieve 20 percent of what he has.

[@Putseller100]

There is an assumption that costly stuff will make life enjoyable. The necessities and a few luxuries here and there is enough. The object is not to waste precious time doing something you don't like

[@jkairi4]

Some people have no alternative but to work on a dead end job.

[@IamSpiritful]

I eat pasta and beans everyday. Better than being stuck in office and playing the corporate game.

[@chucktaylor11000]

that's funny

[@Ferelmakina]

I thought it was about a different thing...

[@jimmy27paul]

An actual rat race?.....

[@Ferelmakina]

jimbob jim haha that would have been cool too

[@elijahmumfordjr1572]

....yes ...you tell..."em...SUSAN-Miller...

[@JimmyHuynhdesign]

No Broker? How?

[@KurtoGuzic]

Total BS! This guy put other people in a rat-race to develop his company to get himself out of the rat-race by selling it. Now he is talking about saving 75% of someone's income!

[@vivaloriflamme]

There is no way around the high cost of health insurance--- and it doesn't cover everything anyway. One hospital stay and you'll be broke.

[@signalfire6]

How about putting aside enough money to declare bankruptcy, and then moving on? You can declare every 7 years, I believe. And if worse comes to worse, just default on credit cards; if you have nothing much of value to seize, they can't touch you.

[@Gr8erThan8]

signalfire6 that is stupid and sick....you are basically lying to people to get money and then not pay it back...those costs are dispersed to everyone else. furthermore, the same is true of hospitals who charge everyone else outrageous sums because people like you take medical care with no intention of paying it back. typical liberal: pass on your consumption to everyone else.

[@mobilephonewatches]

vivaloriflamme You can sue the NHS, plenty have successfully. All doctors worldwide can kill what's your point?

[@mobilephonewatches]

vivaloriflamme So people who attend private healthcare don't die? Your logic is beyond stupid.

[@vivaloriflamme]

mobilephonewatches Go back to selling watches. You're better at that than trolling.

[@sammencia7945]

You quit The issue is your thinking. You are in a prison of your mind.

[@threethrushes]

Quit the RR in 2015 at 39 after corporate hell run by psychopaths.

[@Paseosinperro]

Very good talk Jake! Is nice to see u on video. I thought You were 30 o something :)

[@kuddyadyanchi]

Beautiful presentation Jake! There is a deeper truth to your subject defined in the Vedantha (Vintage Wisdom) That construct of Life (every moment) is a continuous series of Space, Time, Causation, Grace Withheld, Grace Granted. Most people oblivious of Spiritual orientation experience Grace Withheld. Where life is a endless RACE from Womb to Tomb. GRACE GRANTED life ceases to be a RACE, kindles a realization of Oneness at Root. Simple. Grace Withheld a person feels Isolated, Neglected at Root - Grace Granted a person feels a sense of Oneness, belonging Isolation at Root breeds EGO, Selfishness in the Heart - Belonging at Root blossoms Righteousness in the Heart Ego weeds Selfishness of Character - Righteousness blooms as a Beautiful Character Selfishness causes disharmony in the house - Beautiful behavior Creates Harmony at home Spurs Disorder in the Nation - Creates Order in the Nation Crisis, Chaos, Conflict, Corruption in the World - Create Peace, Progress, Prosperity in the World ! Grace Withheld folks live in a EGO System, aka Maslow's Triangle of Self Actualization while Grace Granted folks live in a Ecosystem, in harmony & happiness ! Wish you the very best to make the world a better place.

[@jesseproett3168]

Unjobbing sounds like unemployment

[@mustafakhan5821]

I slaved away earlier at the Rat Race for an Ogre of a boss. He micro managed us every day 9-5

[@Kiyameturk]

Can someone write example about passive income ? there is no translate I can't understand..

[@curiousgeorge555]

So, how does you average Joe earn 8% a year on investments

[@denvercatwoman6561]

curiousgeorge555, Vanguard index funds.

[@priceandpride]

SPY

[@nathanhaltman7235]

VOO, VTI………

[@newellharry176]

Number 5: become a monk

[@delick01]

How can you afford $500 medical insurance?

[@priceandpride]

He's British, it's free

[@amse7119]

TLDW : start a business, play in a jazz band for a year and do standup comedy. more BS from someone who had the means to quit.