What Early Retirement Means to Me

I’m not entirely sure how I came to the path towards early retirement. I still don’t have an entirely clear picture of what the end looks like, but I’m slowly evolving my idea of ER. What I do know is, the things I have learned along my travels have changed the way I’ll look at life forever.

Some things I have learned:

  • Don’t over eat. Why eat more than you should and have to work it off later? You pay money for food, and then you pay money for a personal trainer to burn it off. You’re paying for your lunch twice. When it comes to what you’re eating; eat what you want and the healthier the better. Don’t waste time eating junk filler, get the good stuff (ideally, make it) and enjoy it!
  • Exercise. I’m not going to advise you on what you should do, but find a physical activity that you enjoy. Being active will help you live longer, and healthier! The healthier you are, the less you’ll spend on healthcare and the more money you’ll have in your pocket. Invest now and get your health dividend.
  • Don’t buy your way into lifestyle bloat. Buy a good pot and pan that will last your entire life; you don’t need 5 of each. You actually may have the need for another pan, but live with one until you NEED another. I once bought 40 shot glasses (yeah, really. Yikes.) to serve a tray of 40 tequila shots at a party; now I have too many shot glasses. Do you need what you’re buying?
  • Fill your home with things that mean a lot to you. I like to bring souvenirs home from my travels, however, I make a point not to buy junk. Copper Bosnian coffee set? Good choice. Looks great in the kitchen and makes great coffee. Shipping a rug across the Atlantic from Morocco? Kidding, I’ve been reformed after the tequila incident. I keep skateboard on my wall as art. If I break a board and need one in a pinch; I’m covered and have a rotating cast of wall art.
  • Get Creative. Please don’t buy plastic water bottles. Buy a water bottle for during the day use. I keep flip top glass bottles in my fridge to have ice cold water while at home. I like not sweating during the summer, but cool a whole house is ridiculous. Cooling my bedroom with a small air condition, gets a single room cold in about 10 minutes. Make yourself a clothesline and ditch the dryer when the weather is good.
  • Key tabs on your money. Make a budget. Setup automatic deposits. Buy index funds when you’re carrying too high a balance in your chequing account. Whatever you do, get an investment and saving strategy. Scrutinize your strategy, and constantly evolve it to improve your situation. $ave dat money.

Retiring early, to me, means being more conscious of your spending, more conscious of your earning, and having a clear idea of why you’re saving. Get a raise, save the increase. One day you have the ability to do stop working, you don’t have to, but you can chase another dream if you wish. Freedom is the goal.

-Mike

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