How to master your early retirement lifestyle: Part 3

15 thoughts on “How to master your early retirement lifestyle: Part 3”

  1. Mrs. Budgets and I are at that stage where we have figured out that we could live off one income once I take the leap. Waiting for the jewelry business to grow and working on a another e-commerce store, we are determining now what is really needed. A few cases of beer a month really needed? Since I’ve had a work provided cell phone for past 9 years, now I need a phone of my own…what provider, phone, blah blah do I get? Do we go down to a one car household? Tons of questions that need to be answered!

    1. Hey guys! Living off of a single income sure does help a lot, especially when you have multiple incomes coming in and can save 100% of the rest. But you’re right, this business all comes down to choices, and there are so many of them to make. Regarding cell phones, you might be happiest with Republic Wireless if you don’t need the most expansive of mobile coverage outside of wi-fi areas.

  2. This is a great step-by-step guide. Since we’re fairly new to the “early retirement mindset,” I’ve discovered it is definitely a process. As we seek to decrease spending and increase savings, we need to pat ourselves on the back for the progress we make because we’re not at 70% yet, but we’ll get there… a little at a time. Also… you just gave me another reason to make my super excel sheet budget even more specific and geeky!

    1. Hi Maggie! Thanks for the kind words, I definitely appreciate it. You’re right that this isn’t a sprint – it’s a marathon, and a steady progress is all you need to do well. Slowly but surely is all that’s required! 🙂

    1. Hi Savvy – Yeah, I’d be surprised if my wife and I buy another house that’s bigger than, say, around 1,000 sqft. The space that we actually need is just so little!

  3. I enjoyed the series. Hope the Albuquerque trip went well Steve!

    The secret and biggest challenge is to control our spending. I know for us it is something we continue to work on. If you can be happy living well below your means for years, save and invest the difference, wonderful opportunities begin to unfold. You gain the benefit of compounding in your passive investments, with a new frugal and comfortable lifestyle. Early retirement then can become an achievable and sustainable reality in a matter of a few years. The speed of the journey is primarily determined by the amount you can save.

    1. Hey Bryan – yup, spending is the key for us as well, big time. We do pretty well when we’re home, but we do tend to spend a little bit more when we are out of town. That’s what we will need to focus on keeping under control in the future, but I think without any real earned income coming in past next year, that will serve as all the motivation that we will need to keep things under control!

  4. Funny – Mr SSC and I were just talking about how much subscription fees add up, and some of the crazy stuff our co-workers subscribe to. Even just apps and a couple dollars here and there. I am often amazed at how people think $10 here and $20 there doesn’t make a difference, but you add it together and you are blowing $100 or more a month!

    1. Hey Mrs. SSC – it’s so true, the small monthly fees add up to something much, much larger, and most of us don’t notice them much because they are individually small enough, AND they are extracted from us on a monthly basis without us having to lift a single finger! It’s way too easy to spend money. 🙂

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