In case you were wondering how they pulled this off at 35:
The author retired from his CPA job at KPMG to live the life of world travel and financial freedom. When he retired in 1984 he was making in excess of $125,000 a year. The concept works best where you have a high priced personal residence in a hot real estate market. The premise is that you sell your high priced house and your status car. Then you take the proceeds and invest it in a SAFE, CONSERVATIVE investment living off the interest and never touch the principle. You move to a lower priced area, either in the US or outside.
Although that leaves it unclear how you got the high-priced house in the first place, much less the status car (why buy one if you're going to sell it anyway?). And the "safe, conservative" investment was cash deposits at a bank paying 8%/year, but good luck finding that these days...
The author retired from his CPA job at KPMG to live the life of world travel and financial freedom. When he retired in 1984 he was making in excess of $125,000 a year. The concept works best where you have a high priced personal residence in a hot real estate market. The premise is that you sell your high priced house and your status car. Then you take the proceeds and invest it in a SAFE, CONSERVATIVE investment living off the interest and never touch the principle. You move to a lower priced area, either in the US or outside.
(from http://www.amazon.com/Cashing-American-Dream-Paul-Terhorst/d...)
Although that leaves it unclear how you got the high-priced house in the first place, much less the status car (why buy one if you're going to sell it anyway?). And the "safe, conservative" investment was cash deposits at a bank paying 8%/year, but good luck finding that these days...