What’s your money’s purpose? No one ever got rich by saving money

It’s got to ruffle your feathers, doesn’t it? Those people who say that saving money isn’t how you get rich; how to retire early. “No one ever got rich by saving money”, they say. How dare they. After all, saving money is what we personal finance and early retirement bloggers write so much about. We … Continue reading What’s your money’s purpose? No one ever got rich by saving money

Email from a reader: Your retirement account grew by $120,000 in 2015? Bull!

I received an email a couple weeks ago from a reader who expressed disbelief that my “retirement account” (read: investments) grew by a whopping $120k this year – and the year isn’t even over, yet. I love this email.  It gives me the opportunity to point out how powerful a high savings rate can be … Continue reading Email from a reader: Your retirement account grew by $120,000 in 2015? Bull!

How much does income affect your post-retirement lifestyle stability?

One of the most spirited debates within the early retirement community revolves around the influence that a high level of savings (as well as income) has on a person’s ability to retire early.  I have argued in the past that although a high income can help, an aggressive savings schedule is a far better measure to determine a person’s fitness for early retirement.

From our honeymoon on Maui
From our honeymoon on Maui

My rationale was simple: it is a person’s lifestyle that ultimately determines how long he or she can survive without a full time job post-retirement.  Meaning, a more frugal lifestyle will generally enable earlier retirement than a less frugal lifestyle, regardless of income.

But yet, I would be remiss if I did not address the obvious monkey in the room. Continue reading “How much does income affect your post-retirement lifestyle stability?”

My retirement Renaissance: A journey from insane spending to retirement saving

Audio introduction

There once was a dude from the southeast who thought that life could be broken down into a few simple constructs: get a job, buy stuff, retire and die.  Yep, that dude was me.  Early retirement?  Not in the cards.  401k retirement plan?  Sure, but only the minimum.  Retirement was the furthest thing from my mind.  After all, I had stuff to pay for! Continue reading “My retirement Renaissance: A journey from insane spending to retirement saving”