The Motley Fool Discussion Boards
Retirement Discussions / Retire Early CampFIRE
|Subject: Re: Your Money or Your Life||Date: 7/26/2000 11:48 AM|
|Author: seattlerecruiter||Number: 13796 of 741882|
The exercises strike me as a major time sink. I'm wondering how many of you did them, and what your impressions were.
I found the book to be interesting from a philosophy standpoint, but the exercises were only sem- useful if you are already putting a good deal of money away and doing some good budgeting.
I've always used Quicken to track every penny, so that part was a wash. I did not bother to track my lifetime income. I did compute the "real hourly wage", but it was by no means shocking.
In short, I think if you are already sticking to a well thought out budget, the book has limited usefulness. There is not too much shock in finding you spend 100 a month on eating out if you are already planning to do so. If anything, do the real wage computation. It's nice to be able to say, "I had to work X hours to purchase this product", it gives you good perspective when shopping for discretionary goods.
Hope this helps.
|Copyright 1996-2014 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us|