Why I Retired at 32 | Carl Seidman | TEDxIIT
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- Опубліковано 30 вер 2024
- Millennials will soon make up 60% of the workforce causing a major disruption in how Americans work and live. Companies must adapt to meet their needs. The solution is for the workforce to do something unexpected.
Carl is a strategic management advisor whose perspectives on life and work have attracted the attention of businesses and journalists around the world. He has worked with nearly 200 companies and thousands of professionals aligning business growth with interpersonal relationships and communication. Carl helps leaders craft empowered work cultures and speaks to young professionals about enhancing their confidence, acting on their ideas, and becoming more engaged in the workplace.
This talk was given at a TEDx event using the TED conference format but independently organized by a local community. Learn more at ted.com/tedx
I was an architect and I hated corporate job. Now I do couple of different freelance including test prep tutoring, web development, comic artist and uber driver. I like this.
Would you recommend the architect career today?
just wanted to check if your working lifestyle has changed after 2 years?
@@Alan-Aus hi, I changed. I am still freelancing but I mostly do construction detailing and construction technical translation. also I live in a camper van that saves a lot of money.
College is a joke, it's an expensive vacation from the reality you're about to get hit with. Debt.
Steve Will great line...I am gonna use it...
bull's eye
Only in the US.
College shouldn't be a "vacation", you should be working and studying so you're not saddled with a bunch of debt when you graduate.
College isn't the problem, it taught me advanced science and useful modern skills that allowed me to find a great paying job afterwards.
The 9-5 is from another era,
1, the travelling to work and back. day in day out
2. the co-worker who hates you
3 the boss hates you
4 that toxic workplace
5 the endless lies and gossip
you stay at the job 30 years and when you leave its just bye
have a nice day and don't forget to hand in your locker key or whatever
..
True story i see it all the time.....people that have spent decades at a company.
that is true. That is why I hate corporate job. Now I do a lot of different freelance job test prep tutoring, web development, comic art, uber drive and have a lot of free time to spend time with friends.
I just hit 25 years with my company. I didn't get a phone or email thanking me for my 25 years of service
3 years at my current company. This is my life. My boss's 15 year milestone was fast food lunch with his Boss and an off brand Thermos.
Point 5 is so true its scary, when you resign after so many years it's like you're dead, gone & no one cares hey, scary existence we are having.
Been living this way since 2001. It's scary but it's liberating- No future in pensions that are being Mismanaged and designed to fail and be liquidated. Be self employed, only way to freedom each day.
Quit consuming, save and invest instead !
How do you think the companies you invest in make their money when nobody consumes the stuff they sell.
The economy would collapse if people quit consuming.
@@maythesciencebewithyou
economy would have a Correction & shift.
@@maythesciencebewithyou lol, sad truth. Most need to keep consuming so the rest of us can retire off of their spending habits.
Just buy Bitcoin💯
@@maythesciencebewithyou Of course no one is going to quit consuming entirely. But we can consume less and invest more. Prices will come down as people stop bidding them up so high, and this will naturally increase consumption to a level that will sustain an economy.
A market has many natural feedback loops. And yes virtue is rewarded, not punished.
"Your golden years are right now" 🔥🔥 loved that
Wait... this dude's a millennial?
He was born in 985.
video was posted in 2016 and he says, "several years ago when I was 32". He had to be born "several years" before 1984.
1980-1994
Maybe retiring early aged him.
@@Derpster2493 AD or BC?
I disagree. I believe in choosing a career and continuing to develop professionally within it. When things get boring, then refocus on things that you fear or challenge you. Also, developing strong hobbies outside of work and cultivating relationships make for a lovely life too. I agree that sometimes you need to shake things up, go on sabbatical, vacation, or vision quest.
Your comment is an intelligent and reasonable response.
Wow, finally someone who who gets it. I did much the same thing as he did. Earlier in life I did the usual thing, going to college and getting a good job. All the while I had the presence of mind to save some of that money I made and in 1995, at age 34 I took a company buyout and went into semi retirement. From that time on I worked temporary assignments, enjoying the time off in between. There was the volatility of not having income between jobs, except for savings, and dealing with the hopelessly outdated mentality that gaps in employment were a bad thing. On the contrary, I found my self refreshed, full of energy and ambition, ready to go, much like a rested up sprint runner. If I were to do it all again, I would make some changes, like saving even more and investing in companies that pay dividends rather than mutual funds as I did up until this decade.
I believe Carl Seidman is ahead of his time, and similarly believe I was way ahead of my time years ago. Good video, thanks for posting.
Abitibi_Doug great story indeed!! just one question - don't you have any dependants all the way?
@@pardeeprawat13 most xhoose not to have kids as in the future jobs will be rare to get and most will be very poor with government basic income to barely survive and kids would live in utter poverty
YOU ARE THE EXCEPTION TO THE RULE AS MOST OF THE POPULATION DOES NOT HAVE A COMPANY TO SELL.
@@charlesbennington9951 Where did I say I sold a company?
@@Abitibidoug "I took company buyout ........" I would assume you would have to own a company or at least be a partner with a majority share." Either way you sold "something" that 90%+ of the population does not have that enabled you to go into semi retirement ? There must be something missing or something far more interesting to your story than that absurd and inane question.
Live below your means and invest early = simple
Prudential is crazy. No one will ever live to 150. 125 is the realistic possibility, but would require living the perfect life. I've lived long enough to see most every overly optimistic prediction every made be wrong. If you want to make an accurate prediction, trust me, be a pessimist, lol ,
Indeed living to 125 or 150 seems crazy right now, but even if the average life expectancy increases by 10 years to 90 years old, retirement as we know it will be over. Much of the workforce will have to endure gainful employment until the 70s or 80s. How the structure of the workforce and eldercare will support that is what remains largely unsolved.
@@carlseidman9334 Thank you for commenting, Carl! My dad is 95 and still working, though not presently with the Covid situation. He never wants to retire, lol. By the way, I was raised in Chicago. Best regards!
@@DocinaplaneGood for your Dad -- like him, I'd also love to work as long as I'm physically and mentally able. Why retire indefinitely if you like what you do for work.
I literally wrote a book on this exact topic called, "The Millennial's Unconventional Guide to Retiring Every Other Year: The Key to Designing the Life You Dream About" I'm glad to see there are other like-minded individuals in the world. We were not born to work, pay bills, and die!
If you are genuinely passionate and actualized about the work and end goal, it is surprisingly decent
Would love to read it if it's available? 😊
None of these people actually retire at the ages they say they did... They pretty much all continue working and making money in a part time fashion.
Truth
That is more a choice than a necessity.
The poony is they do it by choice as they have enough invested/saved not to. Working part time for different periods of time as you get bored then each time taking months or years off in between is essentially same as full retirement with that work more like a hobby.
This guy is 39 years old. Not sure why he's calling himself a millennial.
By definition he made the cut by 1 year
He has lots of overtime, that's why he's 39. Otherwise he'd be like 17.
Hmm....starting over at 53 means starting over in a career making half as much money as I currently earn....why in the world I do that? If I quit my job before retirement (about 7 years or so away) it's to be self employed, I don't see any point in "reinventing" myself just to get another job...at entry level no less.
Looks like a guy that retired early from telling people how to retire early.
Iam Ian He looks pretty old for 32.
He said "several years ago, at the age of 32....' Not sure what "several" means in this case.
His LinkedIn profile states that he took his first "retirement" in 2013, which, if it can be believed, translates to an age of 37 or 38 in 2018.
Dubble D it's in the title of the video...
title of the video isn't "how I retired at 32" it's "why" and that's what he explains.
3:30 - 4:30 Every Indian, Chinese, Asian parent needs to hear this.
Just listened to part of a video about a guy and his wife who retired at 30 or so. They're 35 and 37 now and have 2 kids. Anyway, stopped watching when I noticed the guy appeared to be missing most of his back teeth. I guess under his "early retirement plan", going to a dentist was a luxury. Thanks, but I'll work a few years more in order to have my teeth a bit longer. ; )
I intended to be financially independent before AI takes over. There will be no more jobs...
masayako I doubt it. If no one's working, where will the taxes come from?
Nonsense, not every job will be automated. Just the jobs that do repetitive tasks.
hahah AI is not for repetitive task its for the tasks that need thinking
and how do you suppose companies will thrive if there's no consumers, and who do you suppose will build ai
The problem is capitalism. If production was not about profit margins, but instead about sustainability. Everyone could work 4 hours per day (doing something they enjoy), and know that their needs were taken care of.
Which one is better : Suffering , grinding , working 15 hours a day for 10 years to turn your passion into a consistent money making business , and never retiring and having an amazing life , or working a job you hate for 40 years and retiring so that you can finally start enjoying life ?
You missed his point. This whole thing , find you passion and do it for rest of your life doesnt work. Things change, people change, and that's what this ideo is about. Stop looking for passion, DEVELOP you passion.
The more I learn, the more I live, the lies are being sold....
If you can pay off your house you should pay off your house before investing.. so if you lose your job you're not homeless..
Common Sense isn't so common
I got 5 on it ....or you can invest first while your young and live with parents and buy real estate to hold as rentals then before you move out to buy a house, buy it cash. Or buy a duplex,triple, quadplex live in one unit and let your tenants not only pay your mortgage but allow you to live for free basically. That to me is common sense.
disagree, let's say you got a mortgage at 5%(if you have decent credit should be lower), the S&P 500 has averaged something like 9.7% the last 50 odd years and you can write off what you pay in interest on your mortgage for taxes; even after taking 15% off capital gains you will on average do better with stock market.
For risk avoidance you would be better off stockpiling a large emergency fund in the short term as if you put all your money into paying down the mortgage then a crisis comes up before it's completely payed off you have no emergency fund and still have the mortgage payments. Even in the long term there is an argument for not paying down mortgage ASAP, it is a low interest method of leveraging your investments that allows you to invest your capital where it can make higher returns than the interest you would be avoiding. As for the wisdom of investing an emergency fund I like a small stack of readily available cash and a larger stack that is invested in bonds and stocks, as they tend to be inversely related(reducing risk for poorly timed crisis) but both have an upwards trajectory unlike cash due to inflation.
We are not living longer. Actually, life expectancy in the US has dropped for the first time in a very long time. Our work lives may be getting longer, but we ain't living longer. Mind the gap
People are so obsessed to live longer but so many hard working end up in nursing homes rotting away and not even visited, loved or taken outside the compound or even building for years or decades
He looks 50
p000000Lverr you sound 17
He looks terrible
p000000Lverr it’s his receding hairline.
@@Xn0VV7hj31ph I am 17 :C
I was thinking the same thing. When he said "we millennials" I was like wtf
Big companies figured out that people needed diverse work experiences to become good execs a long time ago.
Basically this is feasible only for people with technical skills or technological support to perform the skill. A security guard, a canteen helper, small Supermarket owner, salon shop owner- these people rely on duties tied to the time spent on the job. If you are not available there at that time, job is given to another person. In these cases, retiring early is a day-dream.
While I agree that one should take break from work to re-energize himself, the idea of one must diversify the skill is not for me. You can learn difference things as a hobby but don't think you can earn money from that. Employers only pay the best people in the industry, and you are nobody if you learn a skill for 1hr after work everyday or during a full year break. There are tons of people with 10 years experience out there in that industry. Think about it.
College is absolute waste of time and money - Invest that money instead
well the thing is most people don't have that money. They have to borrow it.
He did a great job explaining the problem. I didn’t hear him provide a solution.
Long story short, you retired early because you could. Do you think younger people don't think the whole concept of giving up a huge chunk of your life so that other people can tell you how to live your life is bs? Of course they do. Many would love to do something more than be with people they'd never cross the road to speak to. Doing boring stuff for 8 hours a day. You're lucky, don't go telling the rest of us we can too, otherwise just not possible
Great plan for someone who is able to save money and eat. For many just eating means going into debt.
You most likely are not single or have children
Retirement is good but most people can’t Do that.
Most will work to not starve most of us does not have parents with real state for example
Most of us don’t want to risk on business
Some people do not want to retire and choose not to have security for the sake of other perks in life.. We are not all the same
Who cares how old you live - care about how GOOD you live
"If portfolio diversification is so important in financial economics, doesn't it make sense that we do the same thing in our work and in our lives?"
No. It's called specialization. I don't need a heart surgeon who can also drop a transmission or tile a roof. I want a guy who does this and only this.
Also, you never retired, you just quit your job.
If I'm looking for a medical specialist, I'd agree -- I'd want them to do nothing in their life but spend all of their attention practicing heart surgery. But for most us who didn't spend 10+ years on training, evolving our careers to adjust to changing markets and demands is imperative. Heart surgeons will always be relevant and in-demand as long as people have heart disease. For those of us working in professions or industries where demand changes, we need to consider how to position for our next move. Our jobs and employers may disappear. One day, even some doctors may be supplanted by robotics.
Thanks for the teaching moment but I think most of us know about specialization. How about not reducing his talk with a ridiculous comparison.
Why can't you specialize in more than one thing? I'll let the heart surgeon fix my roof if he also knows how to fix a roof lol
I've done many jobs. The best involved working with people and travelling, the worst being stuck in one place and producing things - skilled but mind numbingly boring. The money has no bearing on the LIFE satisfaction at all.
Basicaly, he said nothing in this speech. Thanks.
This is the privilege of the top 10%. The rest of us forget it.
With that mentality is the reason you are not in the top 10%.
I wish this is true for me. But I can’t. Too much responsibility and debt to pay. To working poor, this isn’t a possibility when 99% of my paycheck go to pay the bills and save up for tax payment. And I worked two jobs alright.
best video ever
help me am from morocco
34yrs
Average consumption rate is so imbalanced, that everyone wants everything in life, without putting limits to wants and desire. Americans constitute 5% of the world's population but consume 24% of the world's energy. That's just one example. People consume so much that, debt increase and are meant to work rest of their life.
Someone read the 4 hour work week by Tim Ferriss. Omgad... i think this guy just took the 4 hour work week and is acting like it is his...
Retirement is easy if you live debt free and are a minimalist and have investments .
Why be defined by what you do at all? People put too much stock in their jobs, period. I strongly recommend Bob Black's "Abolition of Work".
”Your golden years are right now.” -- Love it.
2:10 capitalism needs to change too. It is too extreme and focused o n big business only concerned about profits negatively impacting their workers and consumers.
Free market capitalism, aka. lawlessness, is what needs to change. There are plenty of variants of capitalism, like facisim and monarchy, and socialistic capitalism, which is a market, where government intervenes in positions where a person is rendered vulnerable, which has no place in the free market. Collectivism is not diverse and causes much chaos before devolving into facisim. Your ideal economics falls somewhere probably in the socialistic capitalism, which favors small business rather than large business.
American dream, live poor, work until you drop
Graduate high school, go to trade school for 9 months and then work as a tradesman. In 3-4 years you'll be a journeyman in that trade making good money and can have a lot saved up too. Then buy a big old house near the university you want to attend. Rent out rooms in your house to other students to pay for it and your education. Now you can work on the side if you want, or in the summers and make good coin. You could also travel every summer and work in your trade. When your done university, sell your house and start your next carrier with a boat load of money, skills and a free education.
Do mini-retirements while you are healthy and leave sitting around for your golden years.
absolutely incredible, this is exactly what I've been doing and being criticized for doing
It's becoming more and more common
You should probably share this talk with them 😃😄
How did you get this done at such a young age ?And why would people be critical of you living your life your way ? I feel as if we are missing some detials.
Unfortunately he forgot to mention the 2005 meta-analysis by Roese & Summerville, stating that the two biggest life regrets are education and career with 32 and 22 % respectively.
I really like his way of thinking but it's all a bit based on the 150 year longevity estimation. Still, evolutionary speaking his system of work is way more realistic and admirable ❤️
It is harder now, to make these goals. 2022 .
get married early, have kids after you get married, dont be housepoor, save first, buy/drive used cars.
I have a carry-on bag, my laptop satchel, and a fresh US passport.
I've lost everything else in my divorce; home, car, money. I am 60 years old, and unemployable.
I have zero income and zero debt, other than my lease agreement, which I don't know how I will pay.
My dysthymia will turn me to the Aaron Clarey retirement plan (e.g., Robin Williams necktie party) when I am out of options.
Divorce is the worst financial disaster to a man.
Lots of jargon, not much content.
it is true, however, I still like his passion.
Agreed
What do you want in 20mins.?
Literally a video about nothing
retiree haeven is portugal, holland?
I was at work today, figuring out a project. I was dieing to get it to run though, and i could just barely figure it out. I hope when i'm in my golden years, i will have the patience to figure out problems like today's and it will be so fulfilling.
Actually it shouldn't be "retiring" at 32. It should be getting to live laugh as the fullest you desire. This "working and retiring" is a capitalism thing.
Easy to retire at 32 when you get 200k at your barmitzvah at 13. Most of us dont have a free 200k to invest by 18 let alone 13!
Lousy excuse to not work towards financial freedom at an early age. Saving and investing is key. Buy assets, not liabilities.
You have no idea...
what he forgets to mention is that you need a level of intelligence to be able to manage your money well and even more to be able to invest it properly.. must people will not be able to do this.. i am guessing you are one of them
Will maybe u should Thank god , we people in Syria our 60-70 work to eat not 4 saving up thank to America!
That claim regarding living longer is complete nonsense. The oldest age hasn't significantly increased in decades--we've hit a genetic wall. In fact, life expectancy has fallen in the US.
It very well could be complete nonsense. However, with the leading causes of death being, by far, chronic diseases like heart disease and cancer, it not at all unrealistic that pharma and science will dedicate huge investment to addressing these problems. We're talking about progress over the next 150 years, not just a few decades. That's a long time to make major advances in understanding chronic disease, nutrition, and genetics.
@@carlseidman9334 maybe, but that's not relevant to the audience, based on that timeframe. As an aside, I personally think such advances will occur far sooner, within 50 years (due to things like CRISPR). This should also address the other concern--healthspan.
its the money system that is the problem
It needs a total renovation
What do you propose instead of moeny system? equality of income? If so, good job trying to get highly specialized and risk job workers to go to their job.
This is guy is barely a millennial.
The way people are eating, the speed of life with multitasking and the lack of exercise will keep 65 as the threshold of like in the social security scheme. I believe that you should try and find a work that you like to do and that you find interesting and challenging- that way you enjoy what you do but do not live solely for the work. The secret to saving money is simple- watch your pennies the dollars will watch themselves. Take care of what you have , fix or repair as much as you can before replacing and do without things that are purely superfluous. Don’t live in competition with the Jones. Very important learn about cars they will eat your life’s saving.
he looks a lot older than his age.
Life diversification is must. Period
I will eventually retire. I am quite capable of doing what I do indefinitely. I work part time earn enough to live on with a bit to spend on 'fun' . retirement says to me 'no longer capable,' I am very capable - I like what I do I have stuff to get out of bed for in the morning - obligations and motivations. Could not begin to imagine waking up with nothing to do. that's what keeps me alive and motivated...
For sure it's not for well employed.
It's for guys like me who lost well paid job in mid 40's.
Cardboard sign......
Have been thinking of this for a while. Thanks for the financial advice! Kind Regards, a millennial that earns well, but hates his job and is only specialized in 1 thing currently
There are always comments suggesting moving to another country, just as its not easy to emigrate to the usa the same applies to most other countries so thats not really a solution/option
Earn for the life style you want & you will never have to care about “enough for retirement” cause you’ll always have more than you need.
It feels like there's a light at the end of the tunnel. Multiple lights, multiple tunnels. Keep pushing forward!
Milleniallosaurus
Fare point but what about the kids mortgage and the wife?
god only knows Leave the wife to me.If she is pretty, I'll take care of her.
live out the golden years of your life rather than dedicate the entirety of your life to your work
Most are rotting in nursing homes at that age having missed most of life working
well said
I plan to retire or reduce my work hours in five years, and I'm interested in how others allocate their income between savings, spending, and investments. I currently earn about $175K annually but haven't built up much in savings so far
There are numerous strategies to achieve high yields during a financial crisis, but it is crucial to undertake such trades with the guidance and supervision of a professional financial advisor to ensure informed decision-making and risk management
That's true. I've been assisted by a financial advisor for almost a year now. I started with less than $200K, and I'm just $19,000 short of half a million in profit.
Nicole Anastasia Plumlee is the coach that guides, you probably might've come across her before I found her through a Newsweek report, she's quite known in her field, look-her up
Yes love the point of this!!! We are calling people 50 and over old. It is not!! My Mom is 80 and needs to work. Come on.
He's so smug!
5:30 - a false perception that many have because they think that while they're spending all of their time thinking about themselves, that other people are spending time thinking about them. Nobody cares what you do, champ. Going from working to self promotion and lying and saying it's about retirement isn't any big thing - there are dozens or hundreds of other people claiming this "retired early" just to get a shot at marketing themselves and their websites and name on tedx talks.
I waited till 33 to Retire . I'm 52 Now , I am glad I did it :} QC
really?
Brilliant Speech - Duly Noted - I am already thinking about retirement a little differently. I'm now 41, but already had a mini retirement 2years ago, lasting 2years - And i loved it...
I'm grateful you had that takeaway from the talk. Especially now, given how disrupted the world is, it seems counter-intuitive to take time to reexamine life and work. But now more than ever, we should all be thinking about where the world is going, where our work may be going, and reposition for personal and professional success in this new reality.
Wait, he took a retirement to pursue entrepreneurial stuff? So he worked.
One man’s retirement is another man’s Craig’s List ad.
When i loose in poker i come to this videos
ahaha
This guy looks 50
He should of put a beanie on and called himself Gen Z
3_*
Unrealistic, superficial and useless BS. If you throw away your executive career, it's gone. The guy is a businessman, he decided to go into business. Good for him that he succeeded, but that is not a sure thing.
If you have a good paying job, stick to it. We are heading into a major recession sooner or later. Save money and be prepared.
I like your message. Having a side gig that is not just about lining your pockets with a few extra dollars but about a skill you can sell if your current industry is reduced or outsourced is so important. Now if we can just figure out a way for people to stop wasting their time watching UA-cam videos 🤔
dansweeney10 some of the best things I've heard were on UA-cam you want to take that away... :P
More like wasting time with a half baked comment. Wasting time is reading the bible.
How is UA-cam a waste of time. Most of my DIY and fix for things are from UA-cam. Not to mention Tedtalks like this.
There are still jobs(teacher+policeman) you can retire in 20years. Not 30-40. And get 80% salary in pension.
What state is that?
Pensions averages 53% of ones highest earned income and based upon this measure dependency on social programs to compensate seems likely provided you find no part-time work
You lost me @ "people will live to 150yrs. Pfffft
A.I.s will someday totally take over the workforce to do repetitive tasks.
Plot twist: It's us.
No it doesn’t make sense to diversify in work. If I knew a little about everything I’d be worthless in any field.
steelcurtain656 You'll become what they call a manager. Lol.
TEDx: Follow your dreams; the money will follow. What’s the worst that can happen?
Health Insurance: Hold my beer.
Yang: Hold my beer; I’m going to reform Health Insurance.
And u think u a soo happy. Not ebody wants to stay at home, or holiday, or do charity eday. I m 55 yo but still wants to go to work. I tried retiring at 38yo..and boy it is not fun at all
So happy to live in Finland, free education and cheap university.
For now
@@luciferin22 It's not probably gonna change any time soon. Although the taxes are high. Even they pay is decent and most in the capital make over 3,000 (average) a month. So, all n all it is pretty much a good society.
@@sneakytaze5336 I have mixed feelings on this subject and no definitive US policy recommendation, but Finland has an enviable model for the rest of the world to examine. Many people in the US want free education and healthcare but don't want to pay for it. It would also cause a major disruption in how universities and research are funded. I believe the impact of COVID will be massive on the education sector, causing many universities to terminate historically profitable programs and reexamine how they are going to make money. I think high tuition costs, combined with a contraction of enrollment, and easily-accessible virtual education will cause universities (and hopefully govt) to reinvent the model in a way that gives greater access to education and is also more financially sustainable.
I didnt woked for 14 months since I watchted you earlier. Thank you. I have 20 Lakhs rupes as back up. But just looking for alternative work insted of IT SAP HR conultant.
How about, starting at 55, we slowly delete a person's memories until at 65 they are barely self-aware and don't mind dying, and don't even feel taken advantage of because they don't remember being screwed.
Stop being a serf, be an owner. Buy stocks, buy companies, help others do the same
Looks like your still working....
Any book or UA-cam video with "retired" in the title is guaranteed to not be about actually retiring.
Dannial Hayes à
He had retired from working for an employer, not from working from home. Just because you retire doesn't mean you have to stop working and stop making money. l retired working for an employer at 39 , l'm 42 now and l write personal finance books, and make money from that.