This is a guest post by Dave, who is also looking to retire no later than 45, but unlike Tim has no kids and doesn’t want any. Dave is from Ontario and is working towards his CGA certification.
I’m not sure what the exact audience of this blog is – I’m sure there are people here that are probably much further along the road to financial freedom than I am, and maybe there are people here that have stumbled across this blog through a Google search. Some people, I imagine read the posts written here just to see what these ‘nut jobs’ are going to write about this week.
Part of the reason that I enjoy writing here is that it provides an outlet for some of my “alternative” lifestyle plans, some which my wife rolls her eyes at and others that she doesn’t even know I have thought up until I get her to read the post prior to publishing. I will be the first to admit that some ideas are not for everyone such as the living in a Tiny House, or touring in a van, or even living on $15,000-$20,000 per year. Some (well most) people have no interest in living like that, sacrificing “now” purchases for “later” gains.
The main thing that I hope readers take away from the posts I have put up over the past 2.5 years is even if you have no interest in retiring 20 years before the conventional age there is always a benefit to being financially independent from a job. There are several benefits of being financially stable, to having a lifestyle that can be funded with minimal effort or money. This past week a couple of events came up in my life that highlighted the importance of having your finances in line.
The first example came from my wife. Over the past 8 or 10 months she has been working part time for 2 separate businesses. She was told in a meeting from her one job that she needed to make a decision and either leave it or work full time and she had a month to make her decision. This business isn’t really all that financially stable, and there is a pretty good possibility that at some point in the near future it could go bankrupt. The other however wasn’t going to offer her more than 10 hours per week, so her choice was kind of made for her. If we were in poor financial shape, working like this would be very risky as a missed paycheque would be really bad news, rather than just a manageable risk.
A second event that made me thankful for the financial decisions I have made, in comparison to others was a family member who needs to remain living with their estranged husband because the couple can’t afford to separate. I don’t know about you, but I don’t think this would be a very pleasant way of living and I am glad that even at this point (near the beginning of my financial journey) I can afford to divorce my wife (she was really impressed to hear this as you can imagine).
So, no matter your reason for reading this blog I hope I am getting this message across – live on less than you need to so that you’re not stuck at your job. Give yourself the freedom that at the end of the month you’re accumulating wealth rather than scrambling with creditors.
…..and have enough money set aside that you can divorce your spouse 🙂