Funding the Adventurous Life
This week we’re taking another look at your specific questions. Today we examine the thorny subject of income and how much is needed to pursue financial independence, how we fund our lives without a job, the best option for medium-term saving goals, some discussion of real estate investing, and a requested expansion on last week’s post about emotional fragility, plus plenty more.
Here’s what you wanted to know…
Continue reading “Your Questions Answered: Volume 2”
This week I am very pleased to bring you an exciting interview with a climber and young professional that you don’t know: Neil Phillips.
As a matter of fact, I’m 100% positive that you don’t know Neil Phillips, because that’s not his real name. And I get that too, because I also don’t use my name. Money and jobs and the internet are like oil and vinegar. They don’t mix. As a matter of fact, we’ll discuss a bit about the taboo of money, and why Neil and I think it’s so damn hard to discuss personal finance.
Neil is a young professional, rock climber, and has many interesting stories and suggestions for anyone trying to get the upper hand with their money.
In this interview we discuss Neil’s desire for financial strength, his story of eliminating debt, pursuing financial independence, and preparing for a year-long road trip. And of course, we even have some good-ole-fashioned climbing talk.
Let’s go!
Continue reading “Neil Phillips: Money as a Means to an Incredible Journey”
The often-touted rule-of-thumb for achieving financial independence is to secure 25 times one’s annual expenses via intentional saving and investing. Even though these are simple systems, we know from the second or third grade that multiplying things by 25 produces much bigger numbers than the thing itself (our spending in this case). Therefore, it seems absolutely outlandish to imagine saving that much money! Outlandish, I tell you!
So, as with many difficult endeavors in life, the tendency is to focus too narrowly on the distant target, and then immediately get overwhelmed. And in doing so, we may never start in the first place. Behaviors remain unchanged; the status quo is preserved.
How can a series of simple systems be implemented to change our lives forever?
Continue reading “The Simple Systems to Kicking Monetary Ass”
When it comes to jobs and careers, parents the world over tell their children more-or-less the same message: you can do anything you want in life. Follow your dreams, and the rest will work out in the end. Of course, those same parents leave early each morning to go to a job that — as statistics show — they probably don’t love.
Years later we find reality to be something a little bit different than a dream. Work is still work, we might have a boss with an ever-so-slightly different vision, and MY GOD why is that woman using the blender right now?!!
So, should we chase our dreams? Are we being misled by pages of digital content and feel-good aphorisms created by outliers? Let’s first begin with a true story.
Continue reading “Chasing Your Dreams is Probably a Bad Idea”
I realize that only some small subset of the folks who end up on this website are likely to pursue financial independence. It’s not for everyone. But if we can make a single small impression on you, dear reader, it would be to invest time in tracking your spending. It doesn’t matter if you are clawing your way out of debt or nearing retirement in your late 20s, you must know exactly how much money is being spent. The more specific you can be in tracking your spending, the more power you have in making change.
Continue reading “Tracking Your Spending: The Ultimate Task”
Well folks, new year, new goals. Are you looking to increase your savings rate this year?
Are you really interested in saving? “No” is a completely acceptable answer, by the way. If you prefer to answer no, you can largely disregard what’s written below and carry on with a plan more suitable for you. We fully recognize that a frugal existence is not for everyone. We cool? Cool.
However, if you’re really interested in saving tens of thousands of dollars, it’s going to require not only change, but a complete re-framing of your lifestyle.
These sort of changes will require a degree of discomfort — whether it’s physical, social, or otherwise — until you become accustomed to a new normal. That’s the beauty of the human condition; we’re adaptable. Take it from us that perceived discomfort can, with time, result in a new-found appreciation for a more simple existence. And the benefits are not purely financial. Building a new life of simplicity brings the benefits of a difficult-to-describe feeling of place in the world. A place you’ve earned, not bought. If you trust us in that, let’s read on.
Continue reading “Five “Essentials” That Are Destroying Your Savings”