Comment by ghaff
9 years ago
Here's a New Yorker article about him: https://www.newyorker.com/magazine/2016/02/29/mr-money-musta...
I believe he has some rental income from properties he owns and he claims to only spend $25K or so per year, so the answer is probably closest to 1. His brand/blog does seem to be quite lucrative though. At this point, it would probably make more sense to limit the effort rather than shut anything down.
There should probably be another word for it? I'm financially secure and will be for the rest of my life. But, I still generate an income, mostly by ownership but I still do physical labor. I do quite a bit of my own labor, as well. I can easily pay someone to do it for me, but I like it.
I just helped harvest the blueberries. Next, I'll be filling my own freezers during hunting season and I'll be guiding others to help fill their freezers. I harvest and process the animals on the neighboring farm, more so if I'm to be purchasing the results. I cut down trees for my own firewood, but I've helped the crew that harvests for commercial reasons. I own a share in a few franchises, and it is not unknown for me to come help on snowy days or even just to help clean up at close. I not only plow my own snow, but I plow it for other people, I'll even shovel for them.
Some of this makes me money, some of it costs me money.
I'm not sure retired is the right word? I don't have to do it, but I like keeping busy. Surely, there could be a better word than 'retired?'
I don't know. "Financially independent" strikes me more along the lines of being able to walk out the door tomorrow and only doing a job because I want to. Not because I need the money.
I think "retired" is OK. A lot (most?) retired people who are healthy do something whether it's just some DIY around the house or volunteering. Of course, these days there are opportunities to pick up some dollars through various gig economy things though I would definitely have to need the money.
The lines are more blurred than they used to be though. I've known quite a few consultants who basically wound things down over time--not actively pursuing work as much but happy to spend some time and cash some checks with existing clients.
Yeah, right after I sold, I tried the not being busy thing. It was less than ideal and it only took a few years before I was bored beyond belief. I did the volunteering thing but that was, for many reasons, less than ideal. So, now I keep myself occupied in unofficial capacities, both at home and in my small community.
I'm not sure how people do it. They retire and seem to do a whole lot of nothing. They may travel a little, maybe putter in the garden, but they mostly seem to watch television and hang out with other old people.
I retired fairly young. That may account for some of the difference. I try to have hobbies that keep me both physically and mentally occupied. Being unoccupied doesn't work well for me.
Financially independent is the phrase I'd use. Enough money so you don't 'have' to work to survive
That works. Anything I make, at least for money, gets donated or given away, pretty much. Some of the things I do result in my being given things like lasagna and fresh baked bread as payment. I eat that. I'd be crazy not to.