How to quit your job and retire in your 30s: The new millennial trend - BBC REEL

Recent studies suggest that over half of millennials do not see themselves as 'emotionally and behaviourally' connected to their job and company.

Exhausted from high-pressure jobs and with a growing sense of burnout, some millennials are following a personal finance strategy that allows them to quit the day job and retire decades early.

Video by Izabela Cardoso & Fernando Teixeira
Senior Producer: Camelia Sadeghzadeh

#bbcreel #bbc #bbcnews

[barttfisher]

A Financial Planner told me Saving at least 15% of your income in a 401(k) can help ensure that you have enough money to retire comfortably. How can one take advantage of compound interest and potentially grow your retirement savings/net-worth to about $3M over time?

[AdeleLaurie]

I believe investors should focus on under-the-radar stocks, especially given the present rollercoaster nature of the stock market. 35% of my $270, 000 portfolio consists of collapsing stocks that were previously respected, and I don't know where to go from here.

[Higuannn]

Just discovered your channel, case studies are extremely useful and I'd like to see more in the future! With this video, I was able to think about my situation with my $300k portfolio as you were describing the case study and it gave me confidence that I'm on the right track.

[MasonKalair]

I am currently in my 50s and This is no time to taper retirement savings. I want to max out my retirement contributions and I also have another $120k in a savings account that i want to invest in a non-retirement account. Where would you invest this as of now?

[ladyinthecave]

Sometimes I really get tired when people from developed countries talk about living in the developing country is soooo cheap. I know they work really hard but somehow it make me sad.

[JoseAlfonsoChavez]

"If you can live on 10, 000 dollars a year, you'll need 250, 000 dollars in investment"
I think this video should have a HUGE warning/label saying: "If you're from the third world, please don't watch this video. It will make you feel miserable."
I earn 7, 200 a year (600 USD before tax) and by watching this video I feel angry of the place I was born in, the money I earn, and makes me sad that if I don't get the F out of here I will live a miserable life until I die.. Oh the perks of being born and raised in a poor country.

[surajitmondal]

By this definition of retirement every other freelancer is a retired person from the beginning 🙄

[benjaminli]

The premise of this whole thing is you have to have a high paying job at first. How else do you expect from someone with minimum wage to retire early?

[prabhakart]

Two things to note here: 1. Become a software engineer to get very high salary.
2. Don’t have kids.

Now you can start watching the video.

[sarabeth]

Most of these FIRE "retirees" make more money than ever before from their blogs, Instagram, and Youtube ventures convincing others that "FIRE" can work. For the people who came later and unable to support themselves selling this snake oil on social media, few are able to actually retire early. I'd like to see some "FIRE" retirees who don't make a penny from selling FIRE and are actually retired living well off their savings and investments. I've never seen one profiled.

[metricstormtrooper]

Bought a house in crap condition in a great place, slaved on the restoration for ten years, bought a cheap farm in another state, moved there at 39 and rented the first house and retired on the rent. Now 65, been retired 26 years and still two years away from "Retirement Age".

[kathryncooper]

After divorce I was creamed in The Crash of 2008. Lost my career, my health insurance, and almost all of my retirement investments at the age of 61. Since then I have learned to live on much less than my poverty-level Social Security income, and I stash leftover money every month. Mortgage is almost paid off, and I take one high-end vacation each year. My forced-retirement life is actually far better than when I was working and making a decent living. Three rules -- homemade and DIY are always less expensive, even designer clothes are a steal at thrift stores, and never buy single-use, disposable products. Wishing in old age that I'd had the foresight to be a FIRE.

[Oliver-Lucas]

I watch several YouTube videos on how to trade in the stock market but haven't made any head start because they are either talking some gibberish or sharing their story of how they made it and I do not want to make mistakes by taking risks in my own hands

[NC_]

The reality is this doesn't apply to everyone. It's applicable to individuals with a high income, living in high income countries (that is the US and certain parts of Europe).

[univibe]

FIRE is a luxury for those with high incomes, usually childless couples with high dual incomes. emphasis on the childless part!

[mathewmcfool]

Great video, I just found out about FIRE roughly 2 years ago and it has definitely become a goal of mine

Yeah, but who apart from engineers who work in tech can do this? Other professions don’t really allow you to save a lot of money quickly. So this isn’t about millennials, this is about a bunch of young people in tech who have realized that they can use their insanely high salaries to just stop working after a while.

[crookedpaths]

Me: I retired at age 10
Mom: Move your lazy backside.

[constanciacollene]

I’m 50 and my husband 54 we are both retired with over $3 million in net worth and no debts. Currently living smart and frugal with our money. Saving and investing lifestyle in the stock market made it possible for us this early even till now we earn weekly. Thanks to FIRE movement.

[dewikle]

It worries me that no comments are made in these discussions regarding the impact these early retirements have on the individuals (in the US) Social Security Retirement Benefit. The calculation that determines the amount of that monthly benefit is based on your 35 highest years earned income, your wages, or net income from self-employment. You don’t want any of those 35 years being assigned $0 when this formula is computed.