Family, children, and travel. The simple things in my head that made me consider the idea of working towards financial independence at an early age. The idea of retirement is pretty simple to me- getting to the point where I no longer need to work a mandatory job to cover our family’s expenses (ever again). Will we continue to be active and productive after we complete our mandatory employment? Sure. Idleness in not the end goal, choice is. I enjoy my current employment and lifestyle, but there are certainly a few tweaks I would make if money was of no concern.
Have you ever considered becoming financially independent at an early age? What would be a good target? 30, 40, 50? Have you ever stopped to consider what it would be like if you never had to work for an income again? Any changes you would make? I would love to have a little more time in my days. The primary motivations for me are: time with my family, financial simplicity, and a lifestyle of minimal environmental impact. Joe Dominguez and Vicki Robin have been writing about this type of financial lifestyle for over thirty years since the original publication of Your Money or Your Life in 1992. Continue reading
It has been a pretty incredible week. We added a new member of the family on Thursday and we were able to come home from the hospital this weekend. It has been a fun few days adjusting from a single little one running around to having two. It has been a blast. Our little lady seems to be getting along with her new baby brother so far. Everyone is healthy and we couldn’t ask for more!
Here is our little Baby James. His two favorite hobbies are eating and sleeping and he is pretty good at both. It will be interesting to see how adding a new one effects the financial picture but most of that impact will be much further down the road. The biggest thing I’ve noticed is how much I enjoy spending time with my kids. If there is anything that can motivate me to financial independence (faster), it would be the ability to spend even more time with my growing family! I’m looking forward to seeing him grow up and I’m really enjoying watching our two year old girl learn tons of new things every day.
I’m pretty sure we all have people in our lives that we are thankful for. I’m sure you can think of a few off the top of your head. I have more than I can count. However, it is very rare that I actually communicate my gratitude to the people I care about. I know I should be more intentional about letting people know when they impact me in a positive way, but I rarely take the time to extend my gratitude.
One of the hardest parts about expressing gratitude for me, especially to other guys, is the difficulty of getting over the awkwardness it takes to randomly send someone a message of thanks. It is easy after I have recently interacted with them; however, many of the people I’m extremely grateful for I do not see very often. I actually received an email out of the blue from a really good friend. It was a simple thanks for being a friend but it was very encouraging. In addition, the subtle joy of a quick message was just enough to motivate me to pass along some gratitude myself.
Who are you grateful for? I know we have moved past the traditional thankfulness season, but I think it is worth extending (and possibly building lasting habits). Have you let the people you care about know recently how much you appreciate them? Do you think it is possible that unexpressed gratitude can actually communicate ingratitude? Continue reading
I spend quite a bit of time reading. Most of what I do for work, research, writing, and academia all involve massive amounts of reading. If you throw in my parenting and religious interests, I certainly spend a large portion of the average day reading content in various forms. I really enjoy reading plenty of other blogs and online sources, but when I really want to delve into a subject, I actually still prefer long form books. I tend to focus primarily on non-fiction, but I always enjoy throwing in a popular novel or two into the mix.
My methodology is pretty simple when it comes to finding new material. Anytime I hear about a new book, my first response is to find it on Amazon and send over the sample to my Kindle. I rarely have time to jump straight into a book when I first learn about it. So, samples are a great reminder tool, as well as a nice little addition to keep a running list of my current interests. I think most of the books I’ve read this year have been personal recommendations or ones I’ve seen recurring on blogs or other feeds that I follow.
I’ve discussed my all time favorite books in the past and also a handful of books that have changed my life. I’m always looking to add to my list, and books remain one of my favorite ways to learn. So, without further ado, here are five (or more) of my favorite books that I’ve read this year. I’ve also included some bonus ones at the end and some on my reading list. Do you have any books you think I should read next year? I’m always looking for things to add to my list.
Vagabonding – Ralf Potts
If there is a book I would recommend to anyone that is considering traveling overseas, it would surely be Potts’ classic. It is also a pretty good resource to encourage people to expand their horizons through a broader international perspective. I really wish I had been given this book when I was in my early teens. Although I already had a penchant for traveling, many of the logistical tips and overall insight would have been perspective changing on what to expect when traveling. The book talks about travel through the eyes of someone who wants to spend more than an hour or two at the tourist traps on a journey overseas. It also includes a lot of insight about the nature of things you can learn and experience when you travel with time and flexibility. I enjoyed the book so much, I actually ended up getting the audio book from Tim Ferris’ book club so I could share the audio with my wife. I could realistically add this to my favorite books of all time. Continue reading
Most people do not feel like they are living an excessive lifestyle. In fact, if you ask, people have a much greater awareness of areas where they contentiously hold back or make tough financial choices. It is also true that most people spend a lot more money than they wish and rarely meet their savings or investing goals. One of the problems we face in the western world, is that we have unconsciously designed our lives to be expensive. We fill our lives with lifestyle habits that elevate our monthly fixed costs. From mortgages, debt payments, insurance, utilities, basic food, childcare, communications, to transportation- we often set our expense expectations without ever spending a dollar of true discretionary money. For many families, our basic obligations are enough to consume the vast majority of our disposable income. When all of our money is already expensed, we rarely have any margin. And we certainly feel richer when we have plenty of that margin in our lives.
We don’t wonder out of an expensive lifestyle. But we can certainly wonder into one. To redesign our lifestyle, it takes a bit of reflection, introspection, and evaluation to motivate change. In addition, most Americans live in a perpetual time deficit so we resort to spending more to try and make up the lost time. We hire out anything we can and tend to spend excessively on the people we love- often to make up for the quality time we wish we could spend with them. Overall, we create a lifestyle that becomes very expensive to maintain. However, we do have a choice. We get to choose how we want to design our life. It starts with a few observations and small steps. Continue reading
Why is it always cloudy over here? I asked my tour guide. It never seems to rain but it always looks overcast. She replied in a pleasantly accented english, “This is normal, you get used to it after a while.” It wasn’t until we left the city of Beijing that I saw the sun for the first time on our several week trip through China. Until that point, I never considered myself an environmentalist. In fact, for most of my life it was much more convenient to not even think twice about the environment in which I lived. Sure, I like clean spaces and I’ll pick up trash around the house to make it look better, but I was never searching to be a part of some greater environmental cause.
So, why am I still reluctant to ascribe to environmentalist perspectives? I think it is two-fold. First, it is about inconvenience. As painful as it sounds from a first world perspective, the environmentally friendly products are often portrayed to be less convenient or more expensive options. The second is about distractions and guilt. We only have limited amounts of cognition and willpower and we often tend to concentrate on only the most urgent things in our life. For busy people, spending a lot of time thinking about saving the environment is simply not a priority. It takes time to fully wrestle with the idea of ‘what is enough’? Where do we draw the line between waste and consumption? If I drive a car, is that too much? Air condition? Flying across the world in a plane? Recycling? An SUV?
For me, it all boils down to waste. There is some part of the minimalism, living simply, and the efficient living movement that aligns itself to a less environmentally impactful lifestyle. Continue reading
We just joined the electric car revolution. Well, maybe a puttering attempt for revolution. But nevertheless, we have joined the electric car bandwagon by purchasing a new Nissan Leaf to drive for the next few years. Due to an unusual set of incentives in place, the cost of owning an electric car (in GA) is probably cheaper than your current cell phone bill.
If you had asked me six months ago if I would ever drive a new car, let alone lease a new car, I would have told you that you are crazy. I have been a staunch supporter of buying reliable, efficient, used vehicles for years. Buying new is a pretty tough sell, but leasing new is generally faux pa in almost all frugallite circles. However, for every rule of thumb, there are always a few exceptions. And this case is no different. By fully utilizing all the current tax and non-profit institutional pricing incentives, we have leased a brand new 2015 fully electric Nissan Leaf for total price of $1,186 ($49/Month) with an estimated gas savings of at least $2,125 ($88/Month) over the course of the two year lease. Special current incentives also include no down payment options. Continue reading
I’m at a crossroads. I’m at the point where I am trying to figure out what I want to do for the rest of my life. The last few days reality has been knocking at the door. I’m not sure what it is. Maybe it is the realization that our second baby is coming in a few weeks. Or maybe it is the fact that finishing my PhD is in sight and I’m starting the process for prospecting employment and casually interviewing different companies around town. Either way, for some reason, it has started to sink in that my life will look a lot different in the next two years and it is time to start planning for the change.
I remember when I decided that I wanted to get married. Ms. SE and I had been dating for several years and I remember thinking that she might be the ‘the one’. While I wasn’t ready to get married, I knew that she would need plenty of time to prepare for the wedding and we would likely get married the summer after we both graduated. Counting backwards from our possible wedding plans, it didn’t take long for me to figure out I needed to start looking for a ring and begin the process. That is when it hit home. The reality of what was about to happen started well before the actual life changing event. And that is pretty close to where I sit today. Trying to plan the rest of my life. Continue reading
What is minimalism? Is it counting the number of items you possess, owning a house with no decorations, or living in a tiny home? Not for me. Sure, those are options, but I prefer to think of minimalism in the broad sense of removing all the distractions, clutter, and non-important commitments in our lives so we can focus our attention on the things that truly matter. Practical Minimalism is the notion of understanding the elements of minimalism that can be usefully applied to reduce stress, develop physical/mental clarity, and fundamentally to makes our lives better.
Conceptually, minimalism is about having less of something. The first thought is often about our stuff, but realistically, a minimalistic lifestyle often exhibits itself by helping an individual remove the detrimental distractions to life. Removing stress, bad habits, debt, addictions, and clutter pave the way for clarity and focus in life. By removing negative things in our life we actually add to our overall satisfaction.
My forray into minimalism actually started with my stuff. I’ve had a tendency to collect things dating back to when I was a small child. The first time I backpacked in Europe the seed was planted. I lived in a large house throughout college and always kept my closets and storage areas packed with things. However, just by living out of a backpack for a short period, it finally clicked that having only the necessary can actually be freeing and mentally relaxing. The idea of practical minimalism slowly began to creep into other areas of my life. Continue reading
I enjoy the Gurus. I enjoy seeing popular media personalities talk about life, living the dream, and hearing their personal views on finance. I’ve read all of their books, listened to their shows, taught some of their classes, and enjoyed almost all of it. More often than not, the general advice they give is pretty good. Or at least, much better than the population of their followers. Most people would benefit from following the baby steps, getting out of debt, or riding a bike. But are all the gurus right for you?
The great part is everyone has their guru. In the financial community, it’s Buffett, Dave, Suze, C. Howard or even Mr. Money Mustache. They are all in the big game of trying to get financial information to us in entertaining and occasionally educational ways. They build audiences, platforms, and have followers that most small time authors or bloggers only dream about. And they are pretty good. But, are they good for you? Is it even possible for one person to give accurate advice for everyone in the world?
The trouble with gurus is that they have to ascribe a one size fits all approach. To really build a platform, one needs consistency and quotability. It is more important to have a uniform message than to try and navigate all the unique situations that arise in real life. Continue reading