The progression toward financial independence can be encapsulated in two distinct life stages: the hunt and the feast.
Some will spend their lives in a perpetual hunt, holding out for large game that may never come. These folks move the goal posts so far forward they risk never scoring.
Others shorten the hunt by accepting a feast that is slightly less gilded than their neighbor, gathering grubs and berries. These folks play on a smaller field where scoring is easier and victory becomes a far more feasible accomplishment.
My favorite proponent of this latter strategy (who also happens to be one of the early FI blogs I stumbled across) is the Escape Artist. A recent post, which extolled the mental gymnastics underlying his approach to FIRE, was entitled, "Not wanting something is as good as having it." He cites Thoreau:
A man is rich in proportion to the number of things he can afford to let alone.
When I lived in Boston for a couple of years, I spent many afternoons driving out to Walden, and it was a beautiful place to go bird watching or take a hike. Two impressions stand out most of all from Walden.
The first was written accounts that, far from living a hermit's reclusive life, Thoreau treasured daily walks into town or to visit neighbors. His integration into the social fabric (as distinct from conformity to social norms) that brought him great joy. He enjoyed having friends, neighbors and visitors.
The second was that his was the original tiny home - smaller than the walk-in closet in the master bedroom of a doctor house, it contained a bed, a small writing desk, a fireplace and three chairs ("one for solitude, two for friendship, three for society"). To be so content with so few material possessions was his unfair advantage.
It got me thinking of how the ideas he espoused have affected my journey. I've benefited from a number of unfair advantages:
- I was born with the wants of a dirtbag. This was dumb luck, like being born with immunity to certain disease processes, but I'm grateful for it.
- I've solidified my identity through my outsider status, which created a desire to resist rather than cede to peer pressure.
- I've found companionship in seeking out my fellow tribe of misfits, resulting in a support system that mutually reinforces our resolve.
- The activities that provide me pleasure out of proportion are largely low-cost or free.
There are advantages that have nothing to do with temperament or mindset that have also accelerated my journey.
- My high-income earning, working spouse was a huge advantage, and allowed us to approach FI at twice the rate of a single-income family.
- Similarly, I had my educational expenses covered by my folks. This was the life lottery ticket I pulled - after my dad's family lost everything following the Cuban Revolution, they went all in on education as their investment of choice, and it paid off for me in a big way.
I was taking a moment to reflect on these different influences as I pondered the next few years, and the potential transition from hunt to feast.
What feast will I aspire to? I hope to set a modest table, with food that is simple, filling and wholesome; with chairs enough for family, friends and society; with bread to break and bread to share.
What will your feast look like?
Comments 4
This is a great post @CrispyDoc. Yeah – I am the people in the church. Notwithstanding my recent affinity to Dollar Stores 😉
Author
DTD,
Thanks for the kind words. My dad is a longstanding fan of the 99 cent store – he call it his therapy – all to say you are among excellent company.
Fondly,
CD
It’s all feast. If you live in the USA it’s all feast. Before I retired I pulled my SS.gov earnings record. It gives a yearly analysis of the wages you paid taxes on. I totaled up my entire life’s earnings. At age 65 I had more than half left in my portfolio. This meant I lived for 49 years, I acquired several degrees, bought houses, sent kids trough college debt free, bought a dozen cars, traveled to Europe and China lived a full and complete and happy life, and I still had more money than the first 49 years of tax paying living cost me left in the bank. Now, I’m older still, having lived nearly 5 more years of job free living expenses, Roth converted a ton of money, meaning paid a ton of tax money and I still have more in the bank than the day I retired. That reality didn’t take care of itself. It required significant planning and analysis, but the result is all feast.
Pulling your SS earning record is a significant reality check. It’s just the facts mam. It tells you what you actually spend and what you actually save and where you actually are in your journey, not some back of the napkin 4th grade math projection. Each AGI recalls what you were doing and where you were in your life. Each AGI provides you with insight into milestones and milestones yet to be lived, and still needed to be planned for. People are want to plan from today forward but in reality planning needs to be done from the future backward as well. The record gives some insight into what future backward looks like and the capital necessary to fund the future. An analysis of “the record” is what I used to to make the decision to retire. In my case it became clear I’d already made all the money and it was time to move to spend all the money.
Author
I pulled my SS record a few years ago and found my first reported paycheck – as an assistant Sunday School teacher at age 16. That led to my gig as a Sunday School teacher through college, where I earned in one morning what friends earned in multiple afternoons on campus work-study jobs. It was my first taste of understanding how selective skills could pay disproportionate income, although I did not pursue it for that reason.
To this day I have a rainbow-haired troll that a third grade student gifted me over her mother’s measured objections because she knew I’d love it. I told her she was absolutely right, and my kids have enjoyed playing with it to this day.
It really is all feast.