Retiring Early

Sunday, January 21, 2007

Reminding yourself to live simply

Simple room with rocking chairThis article in Kiplinger's contains a lot of the usual mumbo-jumbo about keys to financial security, but this one jumped out at me. It's good to remind yourself periodically in a positive reinforcement sort of way:
Key 7: Live simply today for a more comfortable tomorrow
Deferred gratification is no fun, but it's the only way I know to fund your long-term goals -- college for your kids or grandkids, that vacation home you've always wanted, early retirement, a generous bequest to your alma mater. Take a close look at your current lifestyle, and if you see a lot of spending that is dispensable, consider it found money for the bigger dreams in your life (see The Invisible Rich).
Now, I'm not saying that you should live a hermit's life, but simply that you should be mindful of your spending choices. I've been running the expenses numbers from last year and have a certain amount of frustration with our burn rate because I think it's too high (mostly due to costs associated with the new house). However, as I've said, you can't put life on hold between now and retirement, so I probably just need to let it go and do a little living for today. In the end, it's really a balancing act.

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3 Comments:

  • At 1/21/2007 4:19 PM, Anonymous finance girl said…

    When you think about it, that's about the best place for anyone to start (living simply), regardless of income. Not only is it less scattered, less frenetic, and less costly, but healthier and develops patience and an appreciation for what's really important.

    Sheesh, am I accidentally channeling Ben Franklin?

     
  • At 2/04/2007 8:33 PM, Anonymous Golbguru said…

    I finally followed the link you left in one of your comments on my blog. :)

    Yep I have tried to say similar things in the past...but most people don't agree with me. I think people easily get drawn into some mindless number race..and forget the big picture.

    Like you say, it's a balancing act. We can live well now..and live well later if we do it sensibly.

     
  • At 2/05/2007 11:17 AM, Blogger fin_indie said…

    golbguru: Thanks for stopping by! Sounds like we have similar outlooks on this front.

     

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