The Motley Fool Discussion Boards
Retirement Discussions / Retire Early CampFIRE
|Subject: Re: Your Money or Your Life||Date: 7/25/2000 8:28 PM|
|Author: 1HappyFool||Number: 13735 of 847224|
I have a question though, for those of you who have read the book. The exercises strike me as a major time sink. I'm wondering how many of you did them, and what your impressions were. Did you / do you track every penny you spend? Have you calculated how much money you've made over the course of your life, or your total net worth to the penny? If so how much time does it take?
I didn't do the exercises because I didn't need to. I discovered the book, TMF and REHP at about the time when I had "enough". It would have been pointless to plot a line towards independence day when I was already there. Still, the book was useful to me because it supported the conclusions I had already made and it helped my wife to understand the true cost of continuing my career and our consumerist habits.
We had always been LBOM and we had "enough", but we needed to move away from a good job market to be able to transcend to the next level (ER). Uprooting was/is traumatic, but well worth it.
I think one thing that made it less necessary for me to track expenses and all the ancient history was that we have already had a working budget for many years. We were aware of where our money was going and only needed to understand what impact our spending habits were having on the survivability or our portfolio.
|Copyright 1996-2016 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us|