We’re about to go through a life and financial transition as big as graduating from college or getting married — and that’s switching from earning plenty while working to earning very little in early retirement. Which means that we need a new set of systems to ensure our financial success, especially given our status as anti-budgeters. But it also means that we’re bringing back a tool we gave up years ago: the personal allowance.
We’ve been lucky in many ways, but one of those ways is that we’ve been almost completely supported in our early retirement plans by our friends and family (at least the ones who know!). But we know that many aspiring early retirees aren’t so lucky, and today we hear from lots of them about how they handle that lack of support!
When you’re saving like crazy for early retirement, any money not going into the savings pool can feel like a setback. But there’s more to life than just future goals, and those goals should never trump your values or your joy in the present.
As we get closer and closer to early retirement, we get more excited. But it’s not all puppies and ice cream sundaes, either. There are some definite ups and downs that have come along with our journey, and sometimes we each handle them differently. Here’s how we navigate that as a couple.
We’ve noticed something surprising. We’re super happy to talk in detail about finances and our retirement plans with strangers… but we don’t do the same thing with people we know in real life. Why is it so much easier to spread the word about FIRE with strangers?
in honor of valentine’s day, we got to talking about how we’ve grown as a couple financially. neither of us started out as a financial role model. instead, we let ourselves figure out the money stuff together as we went along.
today we’re tackling two topics: the question of how to define financial independence (and whether we’ve already reached that milestone without noticing), and sharing the contents of our already-full life bucket!
tomorrow is the one-year anniversary of our first ever post here, and as the tradition goes, we’re going to reflect a little about our first year of blogging here at our next life, as well as take a big look forward… and share some totally goofy facts about ourselves. but most of all, we want your feedback! we’d love to hear from you about how we can keep improving in year #2. so please chime in in the comments!
while it’s easy to paint a pretty picture here in blogland, the truth is that, despite all that counseling, and reading that book and others, and even despite being in complete and total lockstep with regard to our early retirement and life goals, we aren’t always on the same page about every aspect of our finances. we think it’s important to acknowledge that. here’s how we’re dealing with our current disagreement.
we’re not really new year’s resolution people, but we have definitely been on a journey to see the best in situations — from appreciating beauty more of the time, to looking on the bright side at work, to enjoying the journey of early retirement instead of always focusing on the end goal. so we’re determined to ride that wave into 2016.
big news: we got the okay from the extended family to cut out gifts for adults this year, and give only homemade or secondhand gifts to the kiddos. we’re stoked about this shift, and hope it sticks in future years. gift-giving occasions are emotionally fraught for savers, but here’s how we convinced our families (slowly) to embrace the no-spend holidays.
we’ve both come across a seemingly frequent but also puzzling (to us) phenomenon while perusing new blogs. when aspiring early retirees are telling people in their lives about their plans to retire early, they’re getting negative responses. one of which has us utterly befuddled: the assertion that the accumulation of assets required to retire early constitutes pretty much the worst quality we can imagine: greed. here’s our response, in manifesto form.
for early retirees, if our marriages don’t work out, there’s a high likelihood that our early retirements will fail as well. that’s why we should invest as much in our marriages as we do in our index funds or our dividend stock accounts — maybe more. we should see our marriages as our most important investments, and nurture them accordingly.
it’s so easy to be blind to our own bad habits, and so to avoid forgetting about the bad ones we’ve recently identified, we’ve started making a list of what we want to change just as soon as work is in our rearview mirror. we’re calling the list our resolutions for retirement, and expect this list to grow over time.
today’s topic is one we wrestle with a lot, and which feels central to us as early retirement inches closer and closer: how will we define ourselves once our careers no longer define us?
today we’re sharing the story of some very, very bad money decisions we made once upon a time. some very bad money decisions that we couldn’t be happier about.