BowTied LifeMaxxer

Coast FIRE at 31.

All earnings now need to be spent.

Follow along for insight, successes, and failures.

[BowTied LifeMaxxer @rentalsguymn]

@jamesonhaslam One Grain of Rice.

https://t.co/1YauErULmX

Hands down best book to teach kids (or anyone really) about the power of compounding.

[BowTied LifeMaxxer @rentalsguymn]

@Leo_Traydes If you have patience there's not surer way to end up as a rich person at a country club than to buy index funds and do nothing.

[BowTied LifeMaxxer @rentalsguymn]

@B_doong2daddy I was surprised how cheap my full coverage insurance was with State Farm. $81/month for my new 2026 Standard AWD Model Y

[BowTied LifeMaxxer @rentalsguymn]

I bought a $35 Tesla 5-20 adapter cord, upgraded my 20amp garage outlet w a $25 20amp 5-20 receptacle and will get 5-7 miles per hour charge. More than enough for our needs as a WFH couple.

$60 total investment for a charging setup that can provide 80-110 miles overnight (4pm to 8am).

More people should explore this option before jumping into Level 2.

[BowTied LifeMaxxer @rentalsguymn]

@realfrugalmogul Oh then you're money 👍

[BowTied LifeMaxxer @rentalsguymn]

my taxes on one of my homes went up $2500 from last year. No renovations, bought the house 8 years ago, called the city for an explanation they just said, "idk, if you want to fight it you can go downtown in 4 months and try but it's not likely to work".

Rent or Buy it doesn't matter. Just make sure you can afford it.

[BowTied LifeMaxxer @rentalsguymn]

@thesamparr This is incredibly useful for the 56 people who both have this wealth and listen to My First Million.

[BowTied LifeMaxxer @rentalsguymn]

@XCompoundQuiet They should target doubling or tripling they're spending/charity.

They already won the money game.

[BowTied LifeMaxxer @rentalsguymn]

@DadInvest Personal housing is not an investment.

It is fake money.

No one will ever buy a home, wait for it to appreciate, sell it, pocket the equity, and buy a cheaper home.

Ever.

[BowTied LifeMaxxer @rentalsguymn]

@Game_Dev_Steve @twistartups 5% is the new suggestion from the guy that created the 4% rule:

https://t.co/U19bS1ivn0

[BowTied LifeMaxxer @rentalsguymn]

@Create_Profit don't be fooled, that 35 yr old rich af too 😂

[BowTied LifeMaxxer @rentalsguymn]

@SteveOnSpeed My friends with new homes spend way more on annual repairs than those with 10-20 yr old homes.

Mid-2020 to today has seen some of the worst built homes of the last century.

[BowTied LifeMaxxer @rentalsguymn]

@shawngorham Now at 34, I don't envy a single one of my friends who's parents bought them vehicles, houses, vacations, etc.

[BowTied LifeMaxxer @rentalsguymn]

No.

Trinity studies don't take into account the fact that people aren't going to adjust their lifestyle accordingly as their nest egg grows or shrinks.

Quit earlier, use a higher withdrawal rate, and watch it closely.

Go back to work or lower your withdrawal rate if you see a catastrophic drop.

[BowTied LifeMaxxer @rentalsguymn]

You have a longer window to observe it grow or shrink and are also capable of going back to work.

Most failure to these Trinity type studies are the result of large drawdowns early on with no adjustment to spending.

People forget that even with ZERO flexibility, a 6% withdrawal rate is successful 72% of the time.

[BowTied LifeMaxxer @rentalsguymn]

You have a longer horizon to observe it grow or shrink and are also capable of going back to work.

Most failure to these Trinity type studies are the result of large drawdowns early on with no adjustment to spending.

People forget that even with ZERO flexibility, a 6% withdrawal rate is succesful 72% of the time.

[BowTied LifeMaxxer @rentalsguymn]

@MiniRetireMatt Absolutely. Also, the younger you are the higher the withdrawal rate.

Look to do closer to 5.5% to 6%.

Keep an eye on it though, if it starts to get a little tight go back to work and pump it back up at some point between 50 and 70.

80-90% of the time you'll be just fine tho.

[BowTied LifeMaxxer @rentalsguymn]

@AcdntlyRetired 💯

[BowTied LifeMaxxer @rentalsguymn]

You probably don't want to retire by 40.

You just want to be in a financial position where you can fill your time with work that fulfills you.

You can get there two ways:

1) Save and invest a bunch of money between now and 40 and live off a combo of investments and income.

2) Lower your expenses to allow you to jump in the work you enjoy tomorrow.

[BowTied LifeMaxxer @rentalsguymn]

@indexnforgetit Good reminder every 70 yr old deca-millionaire would trade it all in a heartbeat to be 25 and broke.