What do we plan to do with our time after we reach FI/Early Retirement? ?Find out in tonights LIVE show. ?Tuesday 10/28/14 at 8:30PM EST.
We mention all the time that our frugality isn’t a sacrifice for us. That’s because we buy only the things we truly love and cut everything else out of the budget.
Here’s a list of a few things we spend money on and a few things we couldn’t care less about.
A lot of this video was inspired(ripped off) from one of my favorite bloggers Tynan. He has an article called Polarizing Purchases where he describes how he is able to travel and buy (specific) nice things without the need for a “job.”
We have lived our lives pretty much the same way, buying only the things that are truly important to us.
After years of reading and studying people who have retired extremely early, I’ve discovered there are two common threads that seem to connect them all.
The first is the ability to think differently. Not just want something different, but honestly believe that there is an alternative out there and they are going to find it.
The second trait that holds up the first the the ability to not care what people think. I mean this in a good way, not a bad way. When you live life outside of the box, some people are going to react negatively to your choices.
If you drive an older car, people are going to assume you cant afford anything nicer. Early retirees have the self confidence to ignore backhanded insults like “you can’t take it with you when you die.”
In the video we talk about some of our own struggles with “looking poor” and how we’ve overcome them.
Hope you’re feeling nosy! We’re about to strip down to our financial birthday suit and reveal our income, expenses and net worth. We did it to keep ourselves accountable to our goals and make things more interesting for you guys.
We debated for months whether we should or not, but decided it would need to happen sooner or later, so why not sooner!
We’ll cover our expenses in detail in another video.
Here’s a link to the Blank_Net_Worth_Projections?spreadsheet I referenced in the video.
Let us know if you have any questions in the comments. Thumbs up if you like this video, and don’t forget to subscribe!
Here is a tour of our house. We show just a few of the ways we’re able to save 75% of our income every month.
The biggest budget items for most people are:
We keep costs down by living simply in a small house, saving cash for our car, and limiting our restaurant eating to $50/mo.
Also be sure to DIY everything, buy used, and cut your energy costs as much as possible (gas for the car and electricity at home).
Want to know why we do the things we do? Our goal is retire extremely early by saving 75% of our income. If you’re interested in financial independence definitely check out Mr. Money Mustache (link below).
You don’t need a high income to retire early. But, you are going to need to give up a lot of “things” for financial freedom. Some people think living without luxury isn’t living, we think living without time isn’t living. We just want people to know they’re making a choice.