Great article, thanks. It is implied in the article but I'd like to emphasize a parallel point we've taken to heart in our spending habits:
First off, we take vacations rarely, and usually don't go very far. The "goal" of a vacation can be achieved a mere 100 miles away, no need to go 5,000. They are also fairly short. The "goal" is usually achieved after 3-5 days. No need to be gone for two weeks. The return on investment is just not there in either case. If you had to pay by the minute to charge your phone, why leave it in in for a day when it's fully charged in an hour?
INSTEAD, we have stopped stressing about our groceries. We buy the expensive cheese/kombucha/nuts/cuts of beef because we enjoy them way more and it's only a few dollars' difference. We get that funny cat toy even though it's $30 because the fun we'll have watching them is worth it. So we always sort of feel like we're splurging without actually spending thousands for a week in a tourist trap.
Our culture has made such an unquestioned virtue out of travel. People scrimp in their daily lives all year long to save up for this precious little week. Not nearly enough is written about travel's negative effects. We say, skip Belize and get that juicy prime rib you're craving at the store.
Every nook and cranny of this planet has infinetly interesting experiences waiting for us.
I get to hike in a forest 10 min from home, it might not be Yosemite - but it is fulfilling. I chased a wild turkey once, for no reason. I try to learn the names of the local birds, and everytime there's something new I notice.
Traveling to another country is great for learning about new cultures, but the random person next to you in a coffee shop is just as interesting if you dare to find out.
Very good article--thanks. I will add that much lifespan stress is alleviated by deriving your income from something you actually enjoy doing. This just turns the whole "retirement" thing on its head: it's either no longer needed, or it just flows naturally when it is. I realize that is often an elusive goal in our society, but it is still a wonderful thing to aspire to and strive for
good article. For those that live in high health cost countries like America have to save more to account for the risk that we might get ill (cancer, stroke etc) and will need a lot of money to pay for it. Take away the healthcare cost risk and many would retire without worrying about saving lot of money for retirement.
The solution for this is to actually have a plan. Some people need 1.5M, some people need 500k (sometimes less). But often times neither actually knows because they only read the scaremongering and never take the advice at the end that says “talk to a financial advisor who can help you build a plan for *you*”.
Save for your future but don't be so frugal that you feel like you are missing out along the way.
It is a big gamble starting to save in your 20's for a world you think will exist in your 80's. Imagine if the market colapses in your 50's and you'd been eating Kraft dinner so you could stop working at 55. Imagine being out of the work force for 5 years at 60 and that market crash comes.
True, there needs to be a healthy balance. The goal is to enjoy life at every stage. If you live it up in your youth and fail to save for your old age, that’s a decision you will also regret.
Yes! And what I find interesting is that the people with the most money are often the ones who don’t think they have enough. It’s really amazing what you can learn to scale down and live without, but people just don’t want to do it. A lot of times, spending money and shopping become ways to cope with unhappiness in their jobs or other areas of life. It’s easier to buy things than address the underlying issues, even though simplifying can bring so much more peace.
Amy, this was a great article. Thanks for penning it! Love how you show how corporations and banks uphold this illusion time over time. I haven’t touch on financiers yet in my stack, but this is an article that’s got the ball rolling.
Thank you for this perspective, it certainly makes living and retiring seem much easier, attainable and logical. I'm gonna spend all my kids inheritance now 😄
Great article, thanks. It is implied in the article but I'd like to emphasize a parallel point we've taken to heart in our spending habits:
First off, we take vacations rarely, and usually don't go very far. The "goal" of a vacation can be achieved a mere 100 miles away, no need to go 5,000. They are also fairly short. The "goal" is usually achieved after 3-5 days. No need to be gone for two weeks. The return on investment is just not there in either case. If you had to pay by the minute to charge your phone, why leave it in in for a day when it's fully charged in an hour?
INSTEAD, we have stopped stressing about our groceries. We buy the expensive cheese/kombucha/nuts/cuts of beef because we enjoy them way more and it's only a few dollars' difference. We get that funny cat toy even though it's $30 because the fun we'll have watching them is worth it. So we always sort of feel like we're splurging without actually spending thousands for a week in a tourist trap.
Our culture has made such an unquestioned virtue out of travel. People scrimp in their daily lives all year long to save up for this precious little week. Not nearly enough is written about travel's negative effects. We say, skip Belize and get that juicy prime rib you're craving at the store.
Every nook and cranny of this planet has infinetly interesting experiences waiting for us.
I get to hike in a forest 10 min from home, it might not be Yosemite - but it is fulfilling. I chased a wild turkey once, for no reason. I try to learn the names of the local birds, and everytime there's something new I notice.
Traveling to another country is great for learning about new cultures, but the random person next to you in a coffee shop is just as interesting if you dare to find out.
Life is truly what you make it ✨
Excellent point, Jim. If you make your daily life the best you can, there’s no need to vacate it.
Most people's biggest fear is healthcare. There's so much uncertainty in that area that it makes it hard to budget for.
Absolutely, for Americans that’s a huge wild card, which adds to the anxiety. I am lucky to be Canadian 😊
Very good article--thanks. I will add that much lifespan stress is alleviated by deriving your income from something you actually enjoy doing. This just turns the whole "retirement" thing on its head: it's either no longer needed, or it just flows naturally when it is. I realize that is often an elusive goal in our society, but it is still a wonderful thing to aspire to and strive for
You’re absolutely right about that, Gordon. If you truly enjoy your work, you never “work” a day in your life.
good article. For those that live in high health cost countries like America have to save more to account for the risk that we might get ill (cancer, stroke etc) and will need a lot of money to pay for it. Take away the healthcare cost risk and many would retire without worrying about saving lot of money for retirement.
This 👆
A relevant theory on why we should place our energy above both our time and our money:
https://open.substack.com/pub/manageyourmindwellbeing/p/energy-time-money-full-article?r=4ni5kb&utm_medium=ios
The solution for this is to actually have a plan. Some people need 1.5M, some people need 500k (sometimes less). But often times neither actually knows because they only read the scaremongering and never take the advice at the end that says “talk to a financial advisor who can help you build a plan for *you*”.
Once you know, things get easier.
Save for your future but don't be so frugal that you feel like you are missing out along the way.
It is a big gamble starting to save in your 20's for a world you think will exist in your 80's. Imagine if the market colapses in your 50's and you'd been eating Kraft dinner so you could stop working at 55. Imagine being out of the work force for 5 years at 60 and that market crash comes.
True, there needs to be a healthy balance. The goal is to enjoy life at every stage. If you live it up in your youth and fail to save for your old age, that’s a decision you will also regret.
Yes! And what I find interesting is that the people with the most money are often the ones who don’t think they have enough. It’s really amazing what you can learn to scale down and live without, but people just don’t want to do it. A lot of times, spending money and shopping become ways to cope with unhappiness in their jobs or other areas of life. It’s easier to buy things than address the underlying issues, even though simplifying can bring so much more peace.
I agree, 100%.
Amy, this was a great article. Thanks for penning it! Love how you show how corporations and banks uphold this illusion time over time. I haven’t touch on financiers yet in my stack, but this is an article that’s got the ball rolling.
Here’s an article I’ve touched with some tangental points: https://unorthodoxy.substack.com/p/the-comfortable-cage-of-our-modern
Thanks, Franklin!
Just what I needed to read. Thank you 💛
I’m glad it helped 😊
Thank you for this perspective, it certainly makes living and retiring seem much easier, attainable and logical. I'm gonna spend all my kids inheritance now 😄
... Okay maybe just some of it.
I appreciate the great advice!
There’s something to be said about dying with zero (in fact a popular book has been written on the topic). Thank you for reading.
Oh? That's an interesting concept and sounds much easier than saving 1.7 million dollars
🤣
Good advice. I always doubted that I’d need two mil saved before retirement. Now that I’m nine years retired I know I don’t need it
That’s great to hear! It must’ve taken courage to take the leap.
I appreciate that you took the time to read and share your point of view. So important to have those goals to keep us focussed!