Originally Posted by
ramalama
Oh OK Rick. Make sure world population all don’t become financially independent.........check!
The idea that everybody, or even a large minority could be sustainably financially independent and not working is ludicrous.
With more people sitting on their butt, the ones who are working will simply enjoy a bidding war for their services... as always, the top 10% or so win the bidding and everybody else has to get off their arse and go back to work. You can monitor that in real-time: inflation and CPI numbers.
These retirees are living it right now...
https://www.newsnationnow.com/busine...ack-into-jobs/
Ony two ways to reliably FIRE...
Traditional retirement after age 60 with a big nest egg... the theory here is that you'll die before inflation outgrows your resources (SS and any other retirement systems help extend you). If you live much beyond age 90, you probably won't be active enough to need a lot of money. This isn't very "early" but better than walmart greeting at age 80.
2. Acquire a huuuuuuge nest egg at a very early age... the fundamental trick is to have a LOT more than most other like-minded individuals, so YOU can always win the bidding war. Especially if everybody else wants to retire early too. Probably need a trust fund or tech IPO to get there though.