The ex Google attack lead.

Now today what?

We're going to be talking about his early retirement and how I managed to retire just a few weeks ago.

Actually, now you may be wondering where I am today, and this is actually my parents retirement home over in Santa Cruz, and I'll show you around a bit.

But I think that retirement is an interesting concept, and it needs a little bit of defining because retirement means different things to many people.

So the first thing to understand this What is it?

Retirement could mean downsizing your house, eating cold cereal every day, doing nothing, no activities and just watching TV every single day waiting to die.

Really, That's what some people do.

Another version of it is People are going out on cruise ships, golfing, traveling around, having a great time.

So what we're really talking about here is standard of living right was standard of living Do you want when you retire, and what do you want that picture to look like?

So for myself, I pretty much went into retirement when I was forced to leave my company Facebook a few weeks ago, and I think this is pretty much how retirement happens.

You could be laid off.

There may be some situation at work.

And sure, you can always go back and pick up another job.

I could go pick up another drop as well.

But at some point, you just take a look at that and think, maybe not.

You know, maybe you're good.

Maybe you're fine.

I like to think of it like there's $10 bills all around you and you can go keep picking them up.

But at some point, you just say, you know what?

You're not going to pick him up anymore.

You're good.

So how do you reach this stage?

Right?

And I think that this is really when your time becomes more valuable than the money around you.

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My parents worked in Silicon Valley many years, and so there were time.

A plan which may be interesting to hear about is that they plan to get rid of their big Silicon Valley expensive house, maybe sell it, were rented out and then downgrade into this beach cottage.

There's not many good schools in the area.

There's not many good cos toe work for, but it's good for a retirement.

I can't believe how successful I am.

We can actually take a look at what this place looks like.

There's a living room over here, and this is essentially like mobile home.

Actually, the gravy and bother is actually not because it's luxurious or anything like that.

It's the location, which you have to be on the weightless in order to get here is the bedroom, and you can always swap out the entire mobile home for a brand new mobile home.

If you really want to, you don't really need the good commute anymore to work.

You don't really need good school district's anymore.

You just need, like a pleasant, recreational type of town.

That is fun.

So I have a few tips here to help you on your way.

The first is to understand what your goal is.

I see a lot of people they're not actually working towards retirement.

Okay, so they're working their job.

And then, in order to make money, they have to spend money.

They may be buying cars, start the symbols on the weekends.

They have to go do something to keep themselves occupies.

And it's not necessarily even something that they really want to be doing learning about whiskey and wines, right?

Just because that's an activity that's local in the city, that can help keep themselves occupied.

One example.

I've heard about it.

Sometimes you have these illegal immigrants.

They come into California, do some low wage labor, and then what they do is they're supposed to send that money back home, right?

That's the goal to take care of their families.

But because they're so lonely here, they end up spending that money on prostitutes or something.

And you know, that's all part of the cost of living and working here.

And it doesn't bring anybody closer to retirement.

It doesn't bring anybody, and you're really joy.

You pretty much lose sight of your goal.

This is what I do not by mid to upper tier, semi premium status symbols.

I'm talking about Banana Republic, Jaguar, Infinity cars.

These are cars that nobody actually dreams about.

Nobody actually really wants clothes that nobody actually wants to where they're not really functional.

They don't look that great.

They're just work clothes right there, work cars, and it's to impress your co workers.

And in my mind, they really take you in the opposite direction of retirement.

You know, close at Banana Republic are really more like business expenses.

Except you don't get a tax deduction when you buy things like that, not the other thing.

You want to keep in mind this lifestyle inflation, where the more money you make, people actually usually end up spending more and more.

Maybe you get 100 k job, you go blow half of that on a brand new car.

Maybe you increase your living standards.

Maybe you get a bigger apartment.

What happens in the end is you take a look at how much you're saving, right, how much you're actually put the end of the bank and you realize that you're saving like less than 10% of your actual income, and the fact there's none of that is really sustainable.

When you retire, you're going to go back to eating peanut butter and jelly sandwiches, even though right now you're going out every night eating four star Michelin restaurants and having sushi.

So yeah, you can live it up now, but it's going to be pretty funny when you have to downgrade your lifestyle, and that's going to be painful.

So I would recommend that you think about having a lifestyle and gradually bring it up Such a sustainable, such that you never have to downgrade your lifestyle backwards.

And in order to retire like let's pretend you're retiring age 50 you could live until age 80 90.

You need, like 30 to 40 years of buffer.

I think the reality is that there is no true retirement in the traditional sense that you may be thinking about that because very few people can actually generate that massive amount of net worth.

No, I don't I don't think so.

I wouldn't say that.

I don't think you're right about that point.

Like, for example, myself several years ago, actually, I returned and I was traveling around going to Hawaii, the Caribbean, and I got kind of bored because I had lost all social status.

And, you know, there's still things I would like to buy for fun, right?

And I don't really want to spend my own money on that stuff, So I thought, Okay, I'm gonna go find another job and just do it for some kicks and giggles.

And then what happened for me, actually, was I met my wife.

We had the kid, and it dawned on me that my time was not valuable anymore.

When you have a kid, you're pretty much locked to their kids schedule.

If they need to do some sleeping, maybe they're crying, their learning to read.

They got to go through pre school and the school and high school.

And all of that time I would just be sitting around waiting for the kid to grow up.

It occurred to me that Well, since I'm not going to really be able to do much traveling, I might as well just pick up a job and just be doing that.

And so that's why I have come back out of retirement and decide that you want.

I don't know what I'm gonna do.

I'm just sitting around waiting for this kid to grow up, might still pick up a job and get some health insurance for everybody while I'm at it there.

But recently since my wife and kid left again, and then I lost my job over at Facebook.

When it came time for me here to think about another job, I started thinking, Well, why?

Why would that go pick up another job, right?

My time is actually starting to feel more valuable now.

There's nothing really locking me down here anymore.

And so that's why I'm considering retirement again now.

The other thing that I think you need to understand is that many people never enter retirement simply because they do not ever value their own time.

So it doesn't really matter how much money you have.

I know people who are generating tons of income and money, and I'm sure you know people like this do.

It must be so common where people get so caught up in working, making money that they lose all of their hobbies and interests.

I won't go back to the issue about money, and I think that the true way to attain retirement is that you need a side business side hustle some passive income.

And that is the only way.

I think that you're able to sustain yourself for, like, 30 40 50 years.

However long you may be living and still be able to have a decent quality of life, because if you were to just tried to save all that much, I think it would be incredibly difficult to do without the time value of being able to generate somewhere income as you go.

So if you take a look at my parents, what they've done is they've invested in a number of real estate homes and houses, including this one, and they go around doing handy work on the renting stuff, out managing it.

It's essentially a side job that they've picked up.

It's like house management, and it's a real job.

But the great thing about it is that you don't have to devote 100% of your time to be doing this.

You can still do it on the side, and, sure, they call themselves retired, but it's more like half retired.

They don't quite go into a company.

They're not employed.

But it's not like their income has come to a grinding halt.

And so my message for you is maybe you have a job now.

Maybe you're employed and you're feeling pretty good about yourself.

But I don't think that that excuses you from having to come up with your own business, your own side income, right, like all of your other unemployed friends have to do, You still got to do that everybody has to do that because that's kind of one of the true sources of wealth.

Which is why it kind of annoys me when I see people who are employed and they just burn all of their weekends and evenings watching TV, going out to restaurants and just burning entire afternoons like they're all set.

You know, I don't think you're set by any means, because your retirement is entirely not planned for developing these other sources of income is going to help you reach your time and goes faster such that you're really enjoying your life.

You wanna have a good retirement, the type where you can be still going Now on Cruz is still going around traveling, maybe doing some golf, having a good time while you're doing that.

And the only way to really do that is to have that additional income on the site.

Let me know what your plans for retirement are.

If you like the video, give the Lexus up scrap.

Alice, you next time.

Thanks.