![\"August](\"https://thinksaveretire.com/wp-content/uploads/2015/09/august-budget-pc.png\")
Welcome to the first exciting installment of the 4-part article series \"Our Next Life\". Here, we divulge our retirement plan, in some detail, for others to consider, scrutinize and endlessly ridicule. And yes, I am fully aware that the name of this series also happens to be the name of one of our favorite finance blogs around - OurNextLife.com - and that's okay. They will forever be the blog. This is the series. Blog. Series. Okay then, let's get started! First, I quit!
I remember vividly the last time that I quit a job.
In many ways, I was on top of the world. Nothing could touch me. Move out of the way, world, because I'm coming through. This is my day - my day to be eternally, unequivocally, 100% happy and overflowing with pride.
This was my last day working as the Director of Information Technology at a not-for-profit in the healthcare industry. Two weeks prior I submitted my official resignation, and for 13 days, I was preparing for this sweet day, my last 8 hours, in an office that grew to be stale, hollow and unsatisfying. As it turns out, I don't like working a job all that much.
What does it mean to simply \"not like to work\"? Does it mean lazily sitting on your ass all day and doing nothing, Peter Gibbons-style? Well, maybe. For me, it means I can't stand the extra workish stuff that comes free of charge with a career, like meetings, performance reviews, more meetings, commutes, schedules, documentation... As you know, I don't want a career. Been there, done that. Sorry career, you're not for me.
I wanted to experience the feeling of knowing that I will no longer have to do this any more. No more commute into the office. And that huge looming kill-me-now-I-don't-want-to-live project that I've been dreading for months? No longer my problem. I wanted to walk through the office one final time while thinking to myself, \"I'm free!\" I wanted to freaking scream it.
For the past 8 months, I served as the head of the Information Technology department, a team of 13 people if I recall. I was just some 32-year old stooge, but I was also in charge of people who were twice my age - those with more experience than me, and sometimes, more leadership under their belts.
But I was the guy. I called the shots. How did this happen? What in the world enabled some 32-year old to be transformed from a web developer to the Director overnight?
There was no warning, either. The CEO called me into his office and told me, point blank, that the old Director had been let go and he/they/someone wanted me to fill that role. Whoa. I'm sure my expression of shock, disbelief and amusement was felt reverberating throughout the office at that instant.
Of course I accepted. For the past 12 years, I wrote code for a living. Head down and mashing the keyboard, pounding out if statements and while loops, worrying about memory leaks, resource allocations, security vulnerabilities, all the \"what ifs\" of usability.
Sure, what the hell. I wanted a change. Truthfully, I badly wanted to experience something new. Okay, maybe I didn't have quite this much of a job title upgrade in mind, but screw it, let's give it a shot. I'm game.
Overnight I became \"the Director\", and I felt like hot shit that night.
The very next day, my calendar started getting full - I mean, real full. Meetings piled up. Questions about schedules and features started pouring in. I liked it. I was the one in charge. Finally, after years of longing for the opportunity to make decisions, here I was - with virtually no prior upper management experience - sitting in meetings with executive staff making things happen.
And for a while, it was great. It was new and different. At least it got me moving around more going from meeting to meeting. It was all cool and exciting. It was nice being on top.
But slowly, the monotony started to set in. Day after day was always the same, questions. Concerns. Issues. Meetings. More questions. More concerns. More issues. More...meetings. It all started to accumulate within me. My frustration grew.
Then the employee performance reviews started, and that sure as hell didn't help. Nobody, not even management, seemed to give a wit, but they still needed to be done. My staff didn't care, and quite frankly, I did not expect them to. Their goals were as scripted and barren as possible. They placed no importance in this process. But honestly, neither did I. It was busy work and I knew it. Performance reviews are almost always busy work. Ugh, why?
At first, I chalked it up to being a part of the job. When you're in management, these things happen. Dealing with people is a part of it. Answering questions is why you're here. Feeding upper management gigantic piles of feel good bullshit was what this job is all about. Live with it and move on.
But as the weeks dragged on, I realized that I can't simply \"move on\". The truth was after several months of being \"the boss\", I wasn't happy with what I was doing. I don't want to be on the phone with one of my support staff on a Saturday night if something breaks in the office. I also don't want to be the douchebag who makes someone work when they should be away from the office and enjoying time off.
I refuse to be the enforcer of a policy that requires IT staff to sign their lives over to the organization, to design their free time around the ability to immediately respond when something goes wrong, generally caused by mindless office staff who could not possibly care any less about their jobs.
I also don't want to practically turn into a lawyer whenever I'm in a meeting with upper management by carefully choosing my words, committing to nothing, anticipating their questions and having my bullshit answer already scripted in my head. Because if you say the wrong thing, you're liable to make it happen.
I was done, and I put in my two week notice 8 months into my dictatordirectorship - and I couldn't have been happier. I did it through email, 'cause I'm good like that, and 'cause I work in IT and it was assumed that I no longer possess the ability to print a piece of paper or hand-write much of anything.
And there is probably some truth to that.
It was both exciting and nerve-racking. Suddenly, I became brutally honest in meetings with upper management. Sugar-coat removed, baby. For the next 14 days, you get the real-deal-spiel directly from your soon-to-be former Director. But not to worry, for my replacement will soon reapply the sugar and once again feed you the bullshit that you're looking for.
In some ways, it was a surreal experience. Slowly walking towards the kitchen to grab myself a cup of coffee on my last day, I looked around. I remembered things. Good things and bad things. I remembered standing there talking to so-and-so about such-and-such problem.
I also remember sitting in that cubicle writing code, wishing that I was the one calling the shots around here.
But more than all that, I also realized this was my last day walking these halls, talking to the majority of these people, dealing with this organization's crap and the familiar concern over whether or not my weekend is going to be frantic OMG-Everything-Is-Down-Please-Fix call free or not.
It was a sense of relief. And it was this relief that enabled me to finally see things for what they truly are without the old \"Yeah, but I work here, so it's not that bad\" blinders on. The old fridge. The grimy carpet. The yellowing ceiling tiles.
That 65-year dude who still works. I don't want to turn into that dude.
And now, as I think back on my last day at that organization, I am feeling the same drive to quit once again, but this time, for good. I realized long ago that the grass is never greener - in fact, that shit is always brown. The truth is that I am not cut out for the traditional \"job\" - any job. I can move from company to company until I'm blue in the face. It won't help. I don't like \"jobs\"...not like this.
The way I felt walking the halls on my last day, will that be how it feels the next time that I give my two week notice? Will I once again feel a sense of relief, or will it be something much greater - knowing that I'm not getting another job?
How do I tell my much-older boss that I'm not just \"moving on\", but retiring? I've already made up my mind that I'm not using the insipid \"I want to spend more time with my family\" excuse, because that opens the door for the company to try and keep you by giving you more time off. Screw that. I want the rest of my life off. And besides, why lie? We've spent the past several years saving huge amounts of money so we can retire early and travel the country, and I'm damn proud of that.
I don't know what that feeling will be like, but I am looking forward to finding out. Come the end of 2016, my life will surely get pretty darn hectic, not just because of our retirement, but also our lifestyle changes that are enabling us to retire this early.
We are selling [almost] everything.
Check out Our Next Life, Part 2!
","tags":[{"name":"How to Retire","slug":"how-to-retire"},{"name":"employment","slug":"employment"},{"name":"job","slug":"job"},{"name":"Our Next Life","slug":"our-next-life"},{"name":"quitting","slug":"quitting"},{"name":"work","slug":"work"},{"name":"Change Your Life","slug":"change-your-life"},{"name":"Live Your Dreams","slug":"live-your-dreams"},{"name":"How Life-Changing Things Happen","slug":"how-life-changing-things-happen"},{"name":"Retire Sooner","slug":"retire-sooner"},{"name":"Retiring Early","slug":"retiring-early"},{"name":"Retire by 40","slug":"retire-by-40"},{"name":"Leave Corporate America","slug":"leave-corporate-america"},{"name":"Generating Income","slug":"generating-income"},{"name":"Build Wealth","slug":"build-wealth"},{"name":"Leaving Corporate America","slug":"leaving-corporate-america"}]}},{"node":{"slug":"budget-august-2015-over-the-ridge","feature_image":"https://thinksaveretire.com/wp-content/uploads/2015/09/monthly-budget.jpg","title":"Budget August 2015 ~ Over the Ridge","published_at":"2015-09-01T14:17:53.000+00:00","primary_author":{"name":"Steve Adcock","profile_image":"https://www.gravatar.com/avatar/ae0b2f8d459bad06e6d287fa4a74b1ea"},"html":"Ever since we decided that the path for us is out of the rat race and into an early retirement of our choosing, the Mr. and I have been keeping an eye on our finances and scaling down our spending. Neither one of us were complete clowns, but we certainly weren't looking out for our future selves at anywhere near the level we want/need to be.
So in comes the budget. Budgets don't work for everyone and in the future it may not be necessary for us but for now it is the way we are buckling down and meeting the tough goals we've set for ourselves. Read more about how we budget here.
We are labeling August Over the Ridge(line). We sold the Ridgeline to Steve's brother and we couldn't be happier! We're down to the CTS and the motorcycle and we've decided that's where we are going to stay. Given our timeline, we don't want to risk getting a new-to-us car that might need maintenance in the next 1 1/2 years. We know the CTS and it's running great, so we'll keep it. Meanwhile, like everyone else we saw, our net worth decrease with the market this month. We were lucky enough to have money to invest at the right time when the stocks were on sale though ;). So we'll keep on keeping on.
Meanwhile two small notes.
On to the numbers!
Another great month on the books.
Now, let's take a look at the money-shot numbers.
Total August 2015 income: $17,082.45 (bonus, overtime, and Ridge Payment)
Total August 2015 expenses: $3,835.74 (love this number!)
This means our total August 2015 Take Home Savings Rate came in at: 78%.
And our August 2015 Total Savings Rate: 76% (includes maxing out our 401ks).
Our net worth: $626,489. Let's see this number grow!
We're doing great! Just gotta keep on keeping on.
Another adventure awaits!
Fruits and Veggies: $214.01
Canned Goods: $41.62
Vegan 'Meat': $18.06
Meat, Seafood and Dairy: $16.81
Dry Goods: $57.55
Minus 50 cents from our bag credits. Gotta love a little extra savings ;)
","tags":[{"name":"budget","slug":"budget"},{"name":"Food budget","slug":"food-budget"},{"name":"Monthly budget","slug":"monthly-budget"},{"name":"Change Your Life","slug":"change-your-life"},{"name":"Save Money","slug":"save-money"},{"name":"Get out of Debt","slug":"get-out-of-debt"},{"name":"Build Wealth","slug":"build-wealth"},{"name":"Money-Saving Habits","slug":"money-saving-habits"},{"name":"Getting Out of Debt","slug":"getting-out-of-debt"}]}},{"node":{"slug":"as-the-stock-market-slides-remember-long-haul-victory","feature_image":"https://thinksaveretire.com/wp-content/uploads/2015/08/Untitled-1.png","title":"As the stock market slides, remember long haul victory","published_at":"2015-08-22T12:00:32.000+00:00","primary_author":{"name":"Steve Adcock","profile_image":"https://www.gravatar.com/avatar/ae0b2f8d459bad06e6d287fa4a74b1ea"},"html":"If you're paying any attention to the markets this week, then you are probably aware of its sharp slide over the past several days, sending the Dow plunging 300+ points for two straight days and down 5% this week alone. Around the globe, stocks are sharply down.
Yesterday, the Dow gave back 530 points and, over the past week, lost its 2015 gains. Apparently, a 10% correction in the market is widely anticipated among investors, and many believe this may be its chance that it is happening, down 10% from its all-time high.
The Dow's 530-point drop on Thursday was the biggest in four years. Well-known companies like Netflix, Apple and even Disney - all down more than 16% this week alone.
According to the \"experts\", uncertainty over China's economy and a possible Federal Reserve interest rate hike have combined into a perfect shit-storm of selling throughout the stock market, which might mean that it's the right time to buy.
Regardless of the reason this time, the stock market is a living and breathing \"thing\". It has good days and bad, and we investors take the bad with the good as it continues its trek.
We sent an additional $7500 into the markets this week - of course, this was a planned activity and in no way associated with the down tick in the markets. But nevertheless, this is the nature of the stock market. It rises and falls, and the trick is to buy when prices dip and sell when prices are high. Easy in concept, not so easy in practice.
Only time will tell whether buying this week will turn into a profitable circumstance, but we are keeping our heads held high because investing in the stock market is about the long term, not week or month long stretches where investors either lose their shirt or \"get rich\". It doesn't happen that way.
Are you in the stock market for the long term? Do you even notice its weekly rises and dips?
","tags":[{"name":"How to Save","slug":"how-to-save"},{"name":"Financial independence","slug":"financial-independence"},{"name":"Stock Market","slug":"stock-market"},{"name":"Change Your Life","slug":"change-your-life"},{"name":"Save Money","slug":"save-money"},{"name":"Retire by 40","slug":"retire-by-40"},{"name":"Opportunities to Save","slug":"opportunities-to-save"},{"name":"Generating Income","slug":"generating-income"},{"name":"Build Wealth","slug":"build-wealth"}]}},{"node":{"slug":"bye-bye-honda-ridgeline-will-i-miss-you","feature_image":"https://thinksaveretire.com/wp-content/uploads/2015/08/truck-2.jpg","title":"Bye bye Honda Ridgeline; will I miss you?","published_at":"2015-08-19T14:39:39.000+00:00","primary_author":{"name":"Steve Adcock","profile_image":"https://www.gravatar.com/avatar/ae0b2f8d459bad06e6d287fa4a74b1ea"},"html":"I've written in some detail about the mistakes that I've made in my past. Cars, unfortunately, are included in that list (and perhaps the biggest part), and cars also happen to be one of the more significant drains on people's pocketbooks.
It sure as hell was for me. The cash that I've dropped over the years for automobiles has me literally cringe every time that I think about it. I now realize that, had I been more sensible with my automotive purchases throughout my years living and breathing on this earth, I'd probably be another hundred thousand up in the ol' net worth by now.
But hell, I can't dwell on it now. Mistakes were made. I'm not perfect. Life goes on.
One of the more recent automotive course corrections that we made was selling the Honda Ridgeline that I bought from my father-in-law about a year and a half ago. I made myself believe that trucks are convenient to have (you know, cause they haul stuff). Around that time, my father-in-law was looking to sell the truck and upgrade to a new one (I know, an even worse decision).
![\"Our](\"https://thinksaveretire.com/wp-content/uploads/2015/08/truck-2-1024x683.jpg\")
And lookie there - he wanted to sell his truck. I wanted to buy a truck. A beautiful match made in heaven, right?
But wait, I thought matches were supposed to be positive developments, not cash draining money pits (queue girlfriend jokes...now!). I very quickly realized that, well, I did it again. I made the same mistake of buying a vehicle that I did not need. An 18 MPG vehicle. A vehicle that I used to actually haul things maybe 3 or 4 times in a span of nearly 2 years. Maybe.
Sometimes I'm a hard learner.
Cars are automotive train wrecks (brain twister!) and notoriously horrible investments, especially expensive ones. Most vehicles begin their steep depreciation dance the minute they are driven off the lot, and wind up costing people hundreds of thousands of dollars over a lifetime.
Even after I realized my mistake, I kept that truck around for months, paying insurance on it and performing routine maintenance. I rarely drove it due to its gas mileage. In the end, I paid for a truck to sit in my driveway for a while, occasionally seeing the roads when I just didn't feel like taking my motorcycle out during the day.
Shesh! Enough of this crap. I'm looking to retire by the end of 2016. I should know better than to stubbornly keep this truck around. I'm done, let's sell the truck.
And so I did. The truck is gone.
And so is my insurance payment, and all the gas fill ups. And the excuses as to why I was keeping that bad boy around.
It's a Festivus miracle! (Seinfeld reference)
But we still have another vehicle to contend with - our 2010 Cadillac CTS that, yes, I bought brand new back in 2010.
We completely paid off the vehicle so we do own it outright. Now, the question is whether or not we trade that sucker in for something that gets better gas mileage or not. Is it worth it?
Keep in mind that we will be selling ALL of our vehicles in 2016 in order to buy the truck that will pull our Airstream. So whatever we do, we'll only have the car for about a year and a half. Maybe selling the car is worth it. Then again, maybe it's not.
I don't know, but make no mistake about it...one of my boneheaded automotive decisions has, finally, been corrected!
Are you driving around in a vehicle that you don't truly need? If so, what's stopping you from selling it?
","tags":[{"name":"How to Save","slug":"how-to-save"},{"name":"automobile","slug":"automobile"},{"name":"Save Money","slug":"save-money"},{"name":"Opportunities to Save","slug":"opportunities-to-save"},{"name":"Build Wealth","slug":"build-wealth"}]}},{"node":{"slug":"budget-july-2015-glacier-national-park","feature_image":null,"title":"Budget July 2015 ~ Glacier National Park","published_at":"2015-08-03T12:00:04.000+00:00","primary_author":{"name":"Steve Adcock","profile_image":"https://www.gravatar.com/avatar/ae0b2f8d459bad06e6d287fa4a74b1ea"},"html":"Ever since we decided that the path for us is out of the rat race and into an early retirement of our choosing, the Mr. and I have been keeping an eye on our finances and scaling down our spending. Neither one of us were complete clowns, but we certainly weren't looking out for our future selves at anywhere near the level we want/need to be.
So in comes the budget. Budgets don't work for everyone and in the future it may not be necessary for us but for now it is the way we are buckling down and meeting the tough goals we've set for ourselves. Read more about how we budget here.
We are labeling July appropriately Glacier National Park month. We knew this month would be spendy since we were going to have to pay for the rest of our hotel, rental car etc for our trip. We only overspent on vacation by less than $60 which isn't too bad. We set ourselves a pretty strict budget so I'm really happy we did this well. Our savings rate is down quite a bit this month but we're not worried. It was budgeted for. Next month we're back to normal. The only other major thing is that we paid off our CTS car loan. We are waiting on the title and then are planning to sell the CTS to buy a vehicle with better gas mileage. Look for an upcoming article explaining our great car switcheroo!
On to the numbers!
Another great month on the books.
Now, let's take a look at the money-shot numbers.
Total May 2015 income: $10,156.74
Total May 2015 expenses: $5,743.69
This means our total May 2015 Take Home Savings Rate came in at: 43%.
And our May 2015 Total Savings Rate: 65% (includes maxing out our 401ks).
Our net worth: $635,012.22. Happy this is starting to grow again!
We're doing great! Just gotta keep on keeping on.
Another adventure awaits!
","tags":[{"name":"budget","slug":"budget"},{"name":"Monthly budget","slug":"monthly-budget"},{"name":"Save Money","slug":"save-money"},{"name":"Get out of Debt","slug":"get-out-of-debt"},{"name":"Build Wealth","slug":"build-wealth"},{"name":"Money-Saving Habits","slug":"money-saving-habits"},{"name":"Getting Out of Debt","slug":"getting-out-of-debt"}]}},{"node":{"slug":"my-wife-just-made-100k-her-bitch","feature_image":"https://thinksaveretire.com/wp-content/uploads/2015/03/fl-105.jpg","title":"My wife just made $100k her bitch","published_at":"2015-07-31T23:28:51.000+00:00","primary_author":{"name":"Steve Adcock","profile_image":"https://www.gravatar.com/avatar/ae0b2f8d459bad06e6d287fa4a74b1ea"},"html":"Just seconds ago, my wife messaged me with delightful financial information - her company-sponsored 401k retirement account has finally, after months of flirting with the magical 6-figure amount, finally crested the $100k mark.
And you know what? That rocks. It rocks so hard that I can hardly contain myself.
![\"Fireworks](\"https://thinksaveretire.com/wp-content/uploads/2015/03/fl-105-300x179.jpg\")
Because this whole financial independence thing is a journey, and we must never forget to stop and recognize the small achievements that we get to experience along the way. Staying focused on the NOW, as well as the FUTURE, is the very best way to keep motivated and stay out of the doldrums of \"I want to be retired NOW\"-itis.
After all, all these little achievements add up to something much, much greater.
Is $100k the magic number that will allow my wife and I to give the middle finger to corporate America? Heck no, not yet. But $100k - or whatever other amount that you're actively trying to achieve - is that step in the right direction.
And it starts simple enough.
Get a job at a company that offers a 401k program is first (and if you can't, any job will still work).
Even better, find one that offers some kind of a 401k match, usually in the form of a percentage number.
Then, devote into your 401k as many pre-tax dollars as you freaking can while you're still working, because this is the time to save, and a reduction of your taxable income is like, well, the best thing ever. Our goal is to make the government believe that we're living in poverty. It'll be pretty darn easy after we both quit.
Remember, persistence is key. Keep throwing money at your 401k retirement account until it reaches $10k. Then keep doing it. Soon it'll hit $50k. Then $100k. It all adds up, and it adds up to sweet, sweet jobless victory in the end.
But through it all, never forget to recognize all the things that are going right along the way. Remain focused on the end goal, but don't lose sight of the now.
My wife just made $100k her bitch. It's been brazenly sitting at $99k for a while, then last month's stag-tastic stock market brought that back down to $94k and the market laughed in our face. But today, we get to slap the stock market back across the face.
Because she hit the 6-figures. You go girl.
","tags":[{"name":"How to Save","slug":"how-to-save"},{"name":"401k","slug":"401k"},{"name":"Save Money","slug":"save-money"},{"name":"Retire Sooner","slug":"retire-sooner"},{"name":"Retiring Early","slug":"retiring-early"},{"name":"Retire by 40","slug":"retire-by-40"},{"name":"Opportunities to Save","slug":"opportunities-to-save"},{"name":"Build Wealth","slug":"build-wealth"}]}},{"node":{"slug":"make-cheap-kick-butt-picture-frames-that-look-like-clipboards","feature_image":null,"title":"Make cheap, kick-butt picture frames that look like clipboards","published_at":"2015-07-27T12:00:09.000+00:00","primary_author":{"name":"Steve Adcock","profile_image":"https://www.gravatar.com/avatar/ae0b2f8d459bad06e6d287fa4a74b1ea"},"html":"If you are like me, you love free stuff. But if you can't get free, an inexpensive do-it-yourself project might be the next best thing, and that is just what my wife and I did over the weekend to come up with some truly nice looking picture frames that look just like clipboards.
![\"clipboard-1\"](\"https://thinksaveretire.com/wp-content/uploads/2015/07/clipboard-1-1024x576.jpg\")
These clipboards are light-weight and easy to hang and make changing out your 8x10 pictures a snap. Cheap, too. A few bucks each gets you a unique and creative way to hang your photography.
Total cost: Including the photo, each clipboard \"frame\" cost about $6 bucks.
Here are the steps that we took to make these picture frames.
Materials needed: Individually-cut pieces of wood, sanding paper (or sanding sponges), wood stain, foam staining brush, clips and framing hardware. We picked up the clips and framing hardware from Hobby Lobby. The rest of the material came from Home Depot.
1. Acquire the wood. At Home Depot, we had a long 1 x 12 piece of wood cut every 13 inches. This gave us 7 full clipboards along with a smaller piece of wood about half the size as a leftover. We also picked up some mahogany wood stain to darken the wood and create a pleasing contrast between the darker boards and lighter photographs.
![\"Clipboard](\"https://thinksaveretire.com/wp-content/uploads/2015/07/clipboard-2-300x169.jpg\")
2. Sand the wood. At home, we sanded down each piece of wood, especially the corners, so each board was smooth with slightly rounded corners. We used coarse grit sanding sponges rather than traditional sanding paper because sponges make it easier to round off the corners. We also found that these sponges are just easier to hold and work with than paper.
![\"Clipboard](\"https://thinksaveretire.com/wp-content/uploads/2015/07/clipboard-3-300x169.jpg\")
3. Stain the wood. After sanding each board, wipe the sawdust away and stain the boards using a wood stain of your choosing. We chose a mahogany wood stain to make each clipboard dark, but any stain color will work. Simply use a standard foam brush and stain each piece of wood, including the edges of the board (we did not stain the back). We only applied a single coat of stain, but multiple coats may be necessary depending on the stain color and quality of wood. If more than one coat is desired, remember to let the first coat dry before applying the second.
![\"Clipboard](\"https://thinksaveretire.com/wp-content/uploads/2015/07/clipboard-4-300x169.jpg\")
4. Attach framing hardware. After the stain is dry on each board, attach the framing hardware to the back of the frame. We used traditional framing hardware that you might use on a picture frame, but these clipboards are light enough in weight that easier-to-use two-sided tape or any other more creative hanging mechanism might also work. We attached the hardware one inch down from the top of the board, horizontally positioned in the middle.
![\"Clipboard](\"https://thinksaveretire.com/wp-content/uploads/2015/07/clipboard-5-300x169.jpg\")
5. Attach the clips. The clips are what make these boards resemble traditional clipboards, and we used two clips for each board. We placed each clip three inches in from each side and about an inch down from the top and used super glue to attach them instead of a nail.
Please note that if we had this to do over again, we'd probably move the clips down the board a bit (perhaps two inches down instead of one). This is only personal reference. The size and style of the clips are up to you. We chose smaller black clips that seem to work well with the mahogany stain.
That's it! The only thing left to do is attach your photography and hang the clipboards up against your wall.
![\"Clipboard](\"https://thinksaveretire.com/wp-content/uploads/2015/07/clipboard-6-1024x576.jpg\")
A couple last tips:
1. With a darker wood stain, choose brightly-colored photographs for the best contrast (aka: \"pop!\").
2. Use a piece of two-sided tape at the bottom of the photograph so the print stays positioned flush against the clipboard.
","tags":[{"name":"DIY","slug":"diy"},{"name":"Financial independence","slug":"financial-independence"},{"name":"Photography","slug":"photography"},{"name":"Change Your Life","slug":"change-your-life"},{"name":"Generating Income","slug":"generating-income"},{"name":"Build Wealth","slug":"build-wealth"}]}},{"node":{"slug":"budget-june-2015-the-great-camera-switch-out","feature_image":null,"title":"Budget June 2015 ~ The Great Camera Switch Out","published_at":"2015-07-02T12:00:50.000+00:00","primary_author":{"name":"Steve Adcock","profile_image":"https://www.gravatar.com/avatar/ae0b2f8d459bad06e6d287fa4a74b1ea"},"html":"Ever since we decided that the path for us is out of the rat race and into an early retirement of our choosing, the Mr. and I have been keeping an eye on our finances and scaling down our spending. Neither one of us were complete clowns, but we certainly weren't looking out for our future selves at anywhere near the level we want/need to be.
So in comes the budget. Budgets don't work for everyone and in the future it may not be necessary for us but for now it is the way we are buckling down and meeting the tough goals we've set for ourselves. Read more about how we budget here.
We are labeling June the Great Camera Switch Out. As you may have seen, Steve changed out his camera rig to something lighter and more travel-worthy to align with exploration goals. What's funny is that even though he spent A LOT of money on his new gear he's still under on his camera fund. Why? He sold all of his old stuff. While the camera budget took a bit of a hit this month, his camera fund is still under budget for the year. This is the beauty of well-regulated roll over budget categories.
Otherwise, this was a pretty normal month for us. No extra paychecks or bonuses to speak of (oh shucks). Spending pretty in line...a little over here a little under there. So all in all a good month.
On to the numbers!
Another great month on the books.
Now, let's take a look at the money-shot numbers.
Total May 2015 income: $10,254.42
Total May 2015 expenses: $4,961.90
This means our total May 2015 Take Home Savings Rate came in at: 52%.
And our May 2015 Total Savings Rate: 70% (includes maxing out our 401ks).
Our net worth: $621,637.00. Ouch. Less than $200 growth from last month but I guess we should feel lucky that we didn't actually drop like many people. Look at the bright side, all that extra money we invested was invested when the market was down. The right time!
We're doing great! Just gotta keep on keeping on.
Another adventure awaits!
","tags":[{"name":"budget","slug":"budget"},{"name":"Monthly budget","slug":"monthly-budget"},{"name":"Save Money","slug":"save-money"},{"name":"Get out of Debt","slug":"get-out-of-debt"},{"name":"Build Wealth","slug":"build-wealth"},{"name":"Money-Saving Habits","slug":"money-saving-habits"},{"name":"Getting Out of Debt","slug":"getting-out-of-debt"}]}},{"node":{"slug":"what-has-the-american-dream-become","feature_image":null,"title":"What has the American Dream become?","published_at":"2015-06-22T12:00:11.000+00:00","primary_author":{"name":"Steve Adcock","profile_image":"https://www.gravatar.com/avatar/ae0b2f8d459bad06e6d287fa4a74b1ea"},"html":"![\"What](\"https://thinksaveretire.com/wp-content/uploads/2015/06/pinterest-american-dream.jpg\")
If you do a Google search for \"Is the American Dream dead\", the results aren't pretty.
For example, Richard Eskow writes that the American Dream is dead because people \"can't get ahead financially\" and that living debt-free is only for the rich.
Researcher Gregory Clark believes that the American Dream has always been an illusion, and that \"Blindly pursuing that dream now will only lead to a future with dire social challenges\".
Amazingly, the USA Today put a price tag on what the American Dream supposedly costs. The number? $130,357. And there ya have it, it's as simple as that. Apparently, if you don't have $130 Gs, the American Dream is not for you. How stupendously simple.
Is there any validity to this pessimism? First, we need to determine what the American Dream actually is. Naturally, most definitions are different.
Is the American Dream the ability to start a family, buy some property and live in a nice comfortable home? Maybe it is the freedom to choose your own path in life, shape your future in your own unique way and set forth down a path that is truly yours and tailored to your individual wants and desires.
If we take our cues from society, the norm in life can be roughly distilled down to something along the lines of this: earn a college degree, get married, buy a house in the suburbs, have a few kids, retire by 65 and live out the rest of your life like normal Americans.
Is this the American Dream? What if you want something different?
According to Wikipedia, the American Dream is thusly defined: \"The American Dream is a national ethos of the United States, a set of ideals in which freedom includes the opportunity for prosperity and success, and an upward social mobility for the family and children, achieved through hard work in a society with few barriers\".
To be honest, I fully expected to disagree with the Wikipedia definition of the American Dream before I had read it. But truthfully, I think that definition is spot on. The American Dream, to me, is the ability to take charge of your life in a society that supports and encourages personal growth.
It means that the only thing standing between us and our ultimate goal of happiness is the strength of our determination to see it through. Challenges and tribulations along the way only make the end that much sweeter.
Using the Wikipedia definition, which is one that I happen to whole-heartedly agree with, there is simply no basis for the American Dream pessimism that we see from mainstream financial content factories.
People's incomes will always differ. We will all drive different cars, work different jobs, live in different sized homes and accumulate different amounts of debt. Despite the personal choices that we make for our lives, the opportunity for something better will always be there. This opportunity is the dream!
My wife and I are not living our lives the normal way. We have no plans to have children. We do not anticipate working past 2018 and we have no particular desire to move out into a big home in the suburbs and endure the torturous commute to an office for the next 30 years. And that is okay.
This is our dream. This is us, just two peas in a huge world-wide pod, shaping our future in the way that works the best for us. Even though we are moving against the grain of \"normal\" society, we are taking advantage of the American Dream to make it happen. We are working hard and taking charge.
I believe the American Dream is alive and well in the United States. Contrary to a CNN poll that found 59% of those polled believe the American Dream is impossible to achieve, the fact remains that the American Dream itself essentially speaks to personal determination, and nobody can take that away from us.
If one believes the American Dream to revolve around material possessions, or raises at work, or cars as nice as their neighbors, then it might seem like The Dream is impossible to achieve. But in truth, The Dream is not about stuff.
If someone is not living what they believe the American Dream to be, that does not necessarily mean that the American Dream is impossible to achieve.
Remember that we cannot \"achieve\" The Dream as if it were a finish line, and crossing that line means that we have accomplished this or that, amassed X amount of wealth or paid off X amount of debt. The Dream is not a \"thing\" that we get and, therefore, it cannot be \"bought\" as postulated by the silly USA Today article from above.
Instead, The Dream is a process.
The reality of living in the United States of America is actually quite encouraging. The very large majority of us have plenty of opportunities to succeed and build the life that we want. Some of us take those opportunities and make the best of them. Others don't. The impact can be amazingly severe, but the impact of our decisions does not kill off the American Dream.
The sheer number of rags to riches stories in this country and from around the world helps to prove how powerful our motivations are in building the lives that we want to live.
Like Ursula Burns, who grew up in low-income housing projects in New York and is now the head of Xerox, or Oprah Winfrey who wore dresses made out of potato sacks and widely known to have been abused as a child is now one of the richest people in the world, or Harry Potter author J.K. Rowling who lived on welfare and is now worth in the neighborhood of a billion.
Surely, we all won't get to be quite as rich as these folks, but determination is what separates Burns, Winfrey, Rowling, and so many others, from the rest of the pack. They could just as easily have chalked up their circumstances to a series of misfortunes and settled into a lonely life of frustration and misery. Oh well, The Dream is dead.
They didn't. If you want the American Dream bad enough, you can have it. We all can. Just reach out and take it...I promise, it won't bite.
What say you? How do you define the American Dream, and do you believe it is still alive?
","tags":[{"name":"How to Think","slug":"how-to-think"},{"name":"Financial independence","slug":"financial-independence"},{"name":"money","slug":"money"},{"name":"rich","slug":"rich"},{"name":"Live Differently","slug":"live-differently"},{"name":"Change Your Life","slug":"change-your-life"},{"name":"How Life-Changing Things Happen","slug":"how-life-changing-things-happen"},{"name":"Save Money","slug":"save-money"},{"name":"Leave Corporate America","slug":"leave-corporate-america"},{"name":"Build Wealth","slug":"build-wealth"}]}},{"node":{"slug":"budget-may-2015-whats-with-all-the-groceries","feature_image":null,"title":"Budget May 2015 ~ What's with all the groceries?!?!","published_at":"2015-06-01T12:00:01.000+00:00","primary_author":{"name":"Steve Adcock","profile_image":"https://www.gravatar.com/avatar/ae0b2f8d459bad06e6d287fa4a74b1ea"},"html":"Ever since we decided that the path for us is out of the rat race and into an early retirement of our choosing, the Mr. and I have been keeping an eye on our finances and scaling down our spending. Neither one of us were complete clowns, but we certainly weren't looking out for our future selves at anywhere near the level we want/need to be.
So in comes the budget. Budgets don't work for everyone and in the future it may not be necessary for us but for now it is the way we are buckling down and meeting the tough goals we've set for ourselves. Read more about how we budget here.
We are labeling May the Month of GROCERIES. We had family in town 4/5 weekends (only 2 of those expected). I hosted book club (which means snacks) and we hosted a Memorial Day BBQ for friends. We tried to be thrifty and smart but we went seriously way over budget. Like 1.5x our budget of $300. But we saw it coming and managed to only spend $36 dollars over (and into next month). How? We used our personal fun money accounts. Not ideal but that money is there to do with as we please... and we were pleased to be able to feed ourselves the last week of the month - haha. Next month is A LOT quieter so already starting $36 down does not effect us much.
Other big news is that I bought my hiking boots! As some of you may remember our fun money doesn't roll from month to month unless we dedicate it to something specific. Steve is always saving for camera equipment. Me? I wanted (and needed) hiking boots for our Montana Trip in July to Glacier National Park. So I've been saving $50 a month for the past 4 months. And after an hour at REI during their 50th Anniversary Sale last weekend I am now the proud owner of a pair of Vasque boots that I love. We tried them out with a nice hike last weekend and I am officially saying goodbye to sneaker hiking. The boots are so worth it :)
On to the numbers!
Another great month on the books.
Now, let's take a look at the money-shot numbers.
Total May 2015 income: $12,551.28 (Steve's quarterly bonus!)
Total May 2015 expenses: $5,555.75
This means our total May 2015 Take Home Savings Rate came in at: 56%. Gotta love bonuses.
And our May 2015 Total Savings Rate: 66% (includes maxing out our 401ks).
Our net worth: $621,460.66. Remember how I was upset a few months ago because we seemingly lost money from our net worth. I found it! Now everything is in Mint and I have passwords and usernames to ALL our accounts. So this is really our net worth and we should see more modest increases (but real ones) in the months to come. I hate disorganization and it bothers me it took me this long to see what happened, but O well. I'm pretty happy where the number actually stands.
We're doing great! Just gotta keep on keeping on.
Another adventure awaits!
","tags":[{"name":"budget","slug":"budget"},{"name":"Monthly budget","slug":"monthly-budget"},{"name":"Save Money","slug":"save-money"},{"name":"Get out of Debt","slug":"get-out-of-debt"},{"name":"Build Wealth","slug":"build-wealth"},{"name":"Money-Saving Habits","slug":"money-saving-habits"},{"name":"Getting Out of Debt","slug":"getting-out-of-debt"}]}},{"node":{"slug":"downsizing-my-photo-equipment-what","feature_image":null,"title":"Downsizing my photo equipment? What?!?","published_at":"2015-05-27T12:00:33.000+00:00","primary_author":{"name":"Steve Adcock","profile_image":"https://www.gravatar.com/avatar/ae0b2f8d459bad06e6d287fa4a74b1ea"},"html":"Well, I finally did it. In the name of both frugality and minimalism (and maybe a little thinking ahead), I decided to officially buy into a camera system that is significantly smaller, lighter and easier to carry with me than my current - and much-beloved, Nikon-based camera system.
![\"From](\"https://thinksaveretire.com/wp-content/uploads/2015/05/11220769_10152831399598456_8523720246493835208_o-1024x679.jpg\")
Everybody likes getting new stuff. It was not easy to press that 'Buy Now' button for my new (to me) photography equipment, though.
Imagine for a moment working with a particular brand or type of equipment for years and years, and one day making the decision to sell it all. The reasons for my switch are in my best interest, but still, letting go of the equipment that I've used, practiced with and know so well is still a bitter-sweet moment.
I like to think of this move as a downsize, but technically, is this really \"downsizing\"? Hmm, I don't know. When you downsize, you're simplifying your life by living with less. This switch in photo equipment does indeed simplify my life. But I am not living with less. I am simply replacing my larger and heavier photo equipment with something smaller and easier to manage.
Who needs a mirror, anyway? Traditional cameras (like my Nikon equipment) have a mirror directly in front of the camera sensor (or the film plane back in the film days), and this is what provided your view of the scene when looking through the viewfinder on the back of the camera. When the shutter button is pressed, the mirror flips up and exposes the sensor or film to light, then flips back down to re-gain a view of the scene through the camera.
![\"The](\"https://thinksaveretire.com/wp-content/uploads/2015/05/dslr-300x208.jpg\")
This is an important concept to understand - it's the mirror that enabled the concept of an optical viewfinder. Without the mirror, the scene in front of you can't get reflected up through the camera (called a \"pentaprism\") and out of the back (see the picture on the right from Digital-Photography-Tips.net for a diagram of how light travels through the camera).
The camera system that I am buying into is mirrorless. As the name implies, these are cameras without a mirror in the camera. That means NO viewfinder - at least no optical viewfinder. To compensate for the lack of a mirror, many of these cameras (like the one I bought) offer an electronic viewfinder, which is effectively a video screen that mimics the mirror concept.
Truthfully, switching camera systems has been in the back of my mind for a while now. While I loved my Nikon equipment, I still wanted something different. But why? Why switch to a camera system without a mirror?
Simple: the absence of a mirror makes these cameras smaller and lighter - not just the camera, but the lenses, too. In fact, my entire new camera system probably weighs as much as my current Nikon camera and the 80-200 telephone lens...that's right, just my camera and one lens.
In the future, my wife and I are planning quite a bit of travel – perhaps full time travel. To be perfectly honest, I am not looking forward to hauling all of my fairly heavy Nikon gear around with me across the world, especially when there are other exceptionally high quality alternatives available on the market.
In addition, I would rather not walk around all day long with a big and heavy (depending on the lens) camera around my neck or shoulders. I like the idea of having a more compact, yet just as powerful, camera at-the-ready that I could slip into a larger jacket pocket and, of course, utilize a much smaller footprint.
An important element to consider when not just switching camera manufacturers, but camera SYSTEMS, is the type of photography that you shoot. I am a landscape and nature photographer first and foremost. I do not need the fastest camera in the world (though the camera I bought is darn fast), nor do I need one built like a tank to keep up with my demands in the field. The fact is my shots often come after miles of walking…through mountains or deserts, valleys and fields. In other words, it’s a manual effort to get to my photography, and I need a camera that makes that process as easy and painless as possible.
Ultimately, life is a series of trade-offs. The biggest downside to making this switch is the relatively limited availability of lenses at the moment. The mirrorless camera system concept is still fairly new and, naturally, lens choices will be more limited than with traditional mirrored digital SLRs, like Nikon and Canon.
As a nature and landscape photographer, I quite frankly do not need a large variety of lenses. All I need are three primary lenses to cover the entire range of my photography - a wide angle (between 12mm and 16mm), a mid-range zoom (in the neighborhood of around 18 to 105mm) and a longer range telephoto (around 80-200mm). I bought two of the three when I made my initial purchase last week - a wide angle and mid-range zoom.
And best of all - I bought all of my \"new\" equipment used. Buying used photo equipment, similar to buying cars used, can save several thousand dollars in entirely unnecessary costs. I plan on selling all of my Nikon equipment after I help a friend of mine photograph a wedding this weekend, and I will come away from this deal close to budget-neutral.
Okay okay, enough with all the words - what did I buy? I bought into the Sony Alpha mirrorless camera system.
Camera: Sony Alpha a6000 (Amazon link)
Wide angle lens: Sony 16mm f/2.8 (Amazon link), accepting the 12mm fisheye attachment to be purchased at a later date
Mid-range zoom: Sony 18-105 f/4 OSS (Amazon link)
I am selling both of my Nikon D7000 and Nikon D70 cameras as well as all 5 of my Nikon lenses. Doing the math, I am replacing 7 pieces of equipment with 3, and each individual component is smaller and lighter than its Nikon counterpart.
I love simplifying.
What about you? Have you ever sold something near and dear to your heart after many, many years of faithful service?
","tags":[{"name":"Financial independence","slug":"financial-independence"},{"name":"Photography","slug":"photography"},{"name":"Simplify","slug":"simplify"},{"name":"Change Your Life","slug":"change-your-life"},{"name":"Save Money","slug":"save-money"},{"name":"Psychology of Spending","slug":"psychology-of-spending"},{"name":"Generating Income","slug":"generating-income"},{"name":"Build Wealth","slug":"build-wealth"},{"name":"Money-Saving Habits","slug":"money-saving-habits"}]}},{"node":{"slug":"lookie-there-stats-prove-american-ridiculousness","feature_image":null,"title":"Lookie there! Stats prove American ridiculousness","published_at":"2015-05-18T12:00:27.000+00:00","primary_author":{"name":"Steve Adcock","profile_image":"https://www.gravatar.com/avatar/ae0b2f8d459bad06e6d287fa4a74b1ea"},"html":"Is it any wonder why the average retirement age in the United States has crept up past the 60 year old mark (62 according to Gallup)? If the stats that were graciously put together all in one spot from Becoming Minimalist are any clue, then this retirement phenomenon, unfortunately, should come as no surprise.
Let's take a look at a couple of my favorites from the article.
The average size of the American home has nearly tripled in size over the past 50 years (NPR).
Wow! Lifestyle inflation at the maximum. Complete with large foyers, huge entertainment / game rooms, over-sized kitchens and an expansive garage (aka \"storage space\"), these mega-homes are becoming more and more normal in the United States. Huge homes are nice to look at, but they also need to be maintained. Maintenance on large homes is not cheap. Speaking of garage space...
25% of people with two-car garages don’t have room to park cars inside them and 32% only have room for one vehicle. (U.S. Department of Energy).
Stuff. Americans are burying themselves with so much stuff that not only does their crap spill out into their garage - an area designed to keep their cars out of the elements - but New York Magazine reports that 10% of all Americans rent additional offsite storage. Materialistic, anyone? And speaking of materialism...
3.1% of the world’s children live in America, but they own 40% of the toys consumed globally (UCLA).
That's nice. From a very young age, we seem to be surrounding our kids with stuff. Lots of stuff. Enough stuff to teach our youngsters that stuff makes us happy. What do the majority of parents do when the baby starts to cry? Some hold them. Others simply give them stuff to play with. The lesson: stuff = peace.
Nearly half of American households don’t save any money (Business Insider).
This is perhaps the most frightening of all the statistics. Seriously, no savings? As in, not a single dime saved for the future? It is interesting to view the bar graph on the BI page and observe how the savings rate among Americans has differed from year to year. Take note of 2001, where the savings rate was actually quite high. Why? Extra income! This chart helps to prove a point that I wrote about earlier, that a high level of savings, if you have the discipline to keep at it, is a much more consistent and dependable way to retire early than pure income generation.
And lastly, Americans spend more on shoes, jewelry, and watches ($100 billion) than on higher education (Psychology Today).
Materialism, materialism, materialism. I used to work with a guy who liked to collect watches. Expensive Rolex-type watches. Apparently, blowing through $6 grand to add another watch to his ridiculous collection of time-keepers was no big thing. Of course, this guy also drove around in an Audi and bought lunch almost every day. Retirement by 62? If he's lucky.
Excellent list of American ridiculousness and hat tip to Becoming Minimalist for putting that together. Allow me to pile on here a bit and add a few additional numbers to our discussion.
24 million different consumer goods (read: products) available on Amazon.com (The New Consumer).
And holy shnikies. 24 million products? 24 million different choices for Americans to spend their hard-earned money on? No wonder so many of us are quick to click on that 'Buy Now' button - surely, out of 24 million choices, we can all find something that we like.
$51 billion worth of fast food was charged to credit cards in 2006 (Business Insider).
I am not sure what is more interesting here - that so many people continue to swallow the processed, bacteria-laden fast food, or the fact that we are so quick to put the cost of that shit onto our credit cards. I can respect the credit card rewards and badass hackers out there, but something tells me that credit card hacking is not the primary reason this stuff is charged to plastic.
Americans drive more than 13,400 miles every year (Love To Know, Cars).
That is a TON of miles to put on a car that depreciates the minute that it is driven off the lot. Add in the cost of gas, insurance and maintenance, and these are some ridiculously costly miles. A few other tidbits of note from the article - men drive considerably more than women. Americans drive the least during retirement (yay!) and the most between the ages of 35-54...coincidentally, during most people's primary working years.
Americans spend almost as much on their morning coffee as they do on their commute (Consumerist).
On average, Americans shell out $20 every week on their coffee, the worst of us between the ages of 18 and 34. The numbers: Yearly, we spend almost $1,100 on coffee compared to nearly $1,500 spent on commuting into an office every day. Wow! Speaking of expensive coffee, did you know that the Starbucks \"Trenta\"-sized coffee is bigger than the average stomach, or that their grande coffee has more than four times the amount of caffeine in a Red Bull? Starbucks' market value of nearly $78 billion means people spend a LOT of money on expensive coffee.
20% of us spend more on our cell phone plans than our groceries (Business Insider).
One of the easiest ways to save monthly costs for MOST Americans is to reduce both cell phone and television service plans. This article also cites that 59% of us pay more than $100 every month to maintain our cell phone service. And also, in 2011, we blew through more than $66 billion on lottery tickets and about 2/3rds of Americans pay for gym memberships that they do not use.
We spend an average of 162 minutes on our cell phones each and every day (Geek Wire).
Doing the math, that is almost three complete hours of staring into our cell phones and absorbing ourselves into our artificial digital lives. Sadly, gaming accounts for the largest percentage of cell phone use, followed up by keeping our social media profiles updated and pouring through Facebook and Twitter postings. In other words, we don't use our phones \"in case of emergency\" or to carry on productive business. Instead, we use them as a way to distract ourselves from our own lives. Women's Health Magazine reports a more obscene 10 hours of daily cell phone use number, but I frankly don't understand how that is even possible.
Phew, the ridiculousness of our materialistic society of pure consumption is exhausting. We are all guilty of this to some degree. But, early retirement is the reward for mustering up the ability to escape this wrath of consumerism. Spending more money on cell phone plans than groceries is ridiculous. Wasting 3 hours a day on a cell phone is ridiculous. Drinking expensive coffee is ridiculous. Driving thousands of miles in an expensive car and paying gas prices is ridiculous.
And this ridiculousness is keeping Americans commuting into an office much longer than they should.
","tags":[{"name":"Consumerism","slug":"consumerism"},{"name":"Financial independence","slug":"financial-independence"},{"name":"Statistics","slug":"statistics"},{"name":"Live Differently","slug":"live-differently"},{"name":"Change Your Life","slug":"change-your-life"},{"name":"How Life-Changing Things Happen","slug":"how-life-changing-things-happen"},{"name":"Save Money","slug":"save-money"},{"name":"Retire by 40","slug":"retire-by-40"},{"name":"Psychology of Spending","slug":"psychology-of-spending"},{"name":"Opportunities to Save","slug":"opportunities-to-save"},{"name":"Generating Income","slug":"generating-income"},{"name":"Build Wealth","slug":"build-wealth"}]}},{"node":{"slug":"budget-april-2015-the-month-of-unexpected-expenses","feature_image":null,"title":"Budget April 2015 ~ The Month of Unexpected Expenses","published_at":"2015-05-02T14:33:39.000+00:00","primary_author":{"name":"Steve Adcock","profile_image":"https://www.gravatar.com/avatar/ae0b2f8d459bad06e6d287fa4a74b1ea"},"html":"Ever since we decided that the path for us is out of the rat race and into an early retirement of our choosing, the Mr. and I have been keeping an eye on our finances and scaling down our spending. Neither one of us were complete clowns, but we certainly weren't looking out for our future selves at anywhere near the level we want/need to be.
So in comes the budget. Budgets don't work for everyone and in the future it may not be necessary for us but for now it is the way we are buckling down and meeting the tough goals we've set for ourselves. Read more about how we budget here.
We are labeling April the Month of Unexpected Costs. Nothing serious just a bunch of bills hit us all at once and we had a couple of things we weren't expecting. This biggest of these was a trip to the Emergency Room for some stitches in my foot after a knife fell tip-down into it. Ouch! I'm being more careful about where knives are now and slowly healing. Luckily we have insurance and keep money in the budget for medical/health expenses.
So what did all the unexpected costs mean to us? More of Steve's income was spent this month than we like (we always save all of mine). So no, we did not have to touch our emergency savings. In fact we still saved all of my income and 10% of Steve's, so not too shabby. I love that we haven't budgeted Steve's entire salary because it means when months like this happen it doesn't mean pulling money out of savings.
On to the numbers!
Another great month on the books.
Now, let's take a look at the money-shot numbers.
Total April 2015 income: $11,623.21 (3 paycheck month for me!)
Total April 2015 expenses: $5,328.46
This means our total April 2015 Take Home Savings Rate came in at: 57%. Only reason it's this high with the unexpected expenses is the extra paycheck that went directly to savings.
And our April 2015 Total Savings Rate: 67% (includes maxing out our 401ks).
Our net worth: $554,683.22. I think we have all our accounts finally squared away so hopefully this number will only continue to grow from now on.
We're doing great! Just gotta keep on keeping on.
Our Plans for April were to Keep Saving by:
Our Plans for May are:
Another adventure awaits!
","tags":[{"name":"budget","slug":"budget"},{"name":"Monthly budget","slug":"monthly-budget"},{"name":"Save Money","slug":"save-money"},{"name":"Get out of Debt","slug":"get-out-of-debt"},{"name":"Build Wealth","slug":"build-wealth"},{"name":"Money-Saving Habits","slug":"money-saving-habits"},{"name":"Getting Out of Debt","slug":"getting-out-of-debt"}]}},{"node":{"slug":"we-all-know-how-to-retire-young-but-only-a-few-of-us-put-a-plan-into-action","feature_image":null,"title":"Want to retire young? Believe it or not, you already know how it is done","published_at":"2015-04-20T12:00:48.000+00:00","primary_author":{"name":"Steve Adcock","profile_image":"https://www.gravatar.com/avatar/ae0b2f8d459bad06e6d287fa4a74b1ea"},"html":"Let's face it - the large majority of Americans know how to retire young. Most of us know that to retire significantly before our 60s, we must save our money rather than spend it. Ultimately, it is the accumulation of wealth that enables us to quit our jobs and live out the rest of our lives in jobless bliss. Truthfully, this isn't rocket science.
Many-a-finance article, especially through our mainstream media, publish seemingly helpful tips and techniques to help you retire before you hit 60. Things like savings and investing in the stock market, utilizing your company's 401k plans, generally not spending on shit that nobody really needs. Same stuff, different day...over and over again. Almost never anything new.
Hell, I've done this too. I've talked about how costly that morning trip to Starbucks really is. I have also talked about some pretty basic techniques to save money while eating out and my wife has written about saving tips. But honestly folks, there's nothing all that ground-breaking about all these \"helpful\" articles or blog posts. Most of us know that we need to save.
As an aside, this is why I have been writing more and more about how to THINK and the virtues of taking control of your lifestyle.
Most people know that they can't just keep buying a bunch of crap and expect to be able to quit their jobs and...just live. Even the most financially-dense among our population has probably figured out an interesting pattern: the less money you spend, the more money you have.
The problem isn't that people don't know HOW to retire early; now more than ever, people are fully aware of retirement accounts, long term savings and generally what \"investing\" is. They may not know them in excruciating detail (and, quite frankly, the details aren't that important anyway), but still - people get the point.
The problem is people simply refuse to leave their comfort zones. News articles and blog posts can talk about saving 15% of your income until the author is literally blue in the face. But, until their audience is willing to escape the luxurious confines of their comfort zone, not much is going to change. And so, enough with the how-tos on early retirement, Mr. Mainstream Media.
There are a couple much larger issues at play.
Believe it or not, I have no problem with people who make the choice to work longer into their elder years in order to live less frugally while young. Several of my friends admit that the lifestyle that they choose to live NOW will affect their ability to retire LATER.
They fully realize that the hundreds of dollars they spend to upgrade their pocket-sized personal computer (widely referred to as the modern \"cell phone\" in the United States) every year is cutting into their long term savings. They know that the homes they live in, cars they drive and the stuff that they have and things they do affect their ability to retire early.
And they are okay with putting in a substantial number of additional years at the office to make their current lifestyle possible. These people are adults and capable of making their own decisions. They made a choice and are sticking to it.
And quite frankly, I respect a person's reasoned decisions - like I said, early retirement isn't for everyone. People's goals are all different, and there's no law of the land that instructs people to actively seek early retirement.
The real tragedy here is with people who DO want to retire early, but refuse to make the lifestyle changes necessary to make it happen. \"I know I should save more\" is an often-uttered phrase when talking to one of these people.
They just \"can't save\", they lament. It's darn near impossible.
After all, that 70\" flat panel television needs to be paid for somehow. Or their BWM sitting in their garage, expensive wrist watch on their arm, $2500 surround sound stereo system in their living or game room. All that stuff needs money.
Even while spending substantial amounts of money on unnecessary luxuries, people know how to save. Most also recognize that money does not grow on trees, and retirement will require a certain level of wealth.
The true problem: they choose not to save.
Naturally, we all want to feel comfortable in our lifestyles, and I am certainly no exception. I love knowing that the decisions that I am making are actively supporting the goals that my wife and I have setup for our future. Every day, it is a joy knowing that we are working towards the glorious goal of jobless bliss.
But sadly, people's comfort zones represent the biggest factor in the inability to achieve the goal of financial independence and early retirement.
It is a mind-game that people are playing with themselves. Spending is an addiction, and people's minds keep planting the seeds of comfort within the decision-making process. \"Come on Steve, that new Corvette will make you happy\", my mind once said. \"Oh dude, wouldn't it be cool if you supercharged that Corvette?\"
Shut up, brain. You're totally killing my ability to retire from this rat race whenever the hell I want. Just stay up there and mind your own business.
The key to early retirement isn't necessarily in the HOW. Instead, the key lies with the MIND. Once the mind has been tamed, one can truly begin to control their own destiny.
After all, it's your mind that tells you what's comfortable.
What happens when you begin to control your mind rather than your mind controlling you? You begin to REASON, and reason is good. It's good people.
For example, fast food every night would probably taste good - after all, your mind wants that level of satisfaction. But, your ability to REASON intervenes. If you eat too much fast food, you grow fat and unhealthy. Your standard of living sinks. Then, you may die.
And likewise, your mind tells you that spending money on useless crap will make you happy. And it may very well give you a sense of happiness, at least for a little while. But then, your mind moves on to different things, and the crap you bought last month no longer has the same appeal any longer.
Your lifestyle will begin to change for the better after the inclusion of REASON. The crap you [used to] buy every week to make you happy will no longer affect your mind, because now, REASON is in control of your mind.
Your mind usually knows the right answer in almost any situation. Somewhere in the ol' cranium, your ability to REASON has already figured it all out. The answer is almost always there. Great, so what's the problem?
Your mind has covered up that REASON with a thick layer of rubbish.
The great untamed mind might carry on a short, but financially devastating, conversation that goes something like this:
You: \"I really need to save more.\"
Your mind: \"But you probably want that new iPad more, don't ya?\"
You: \"Yeah, but Mr. Mind - I really need to save.\"
Your mind: \"Oh get real - retirement isn't for another 20 years; have a little fun, get that new iPad. You'll love it.\"
You know how to save. You also know what it takes to retire. Trust me, you really do. If you think that you're confused, that is probably your mind playing games with you. It's that layer of rubbish over your REASON.
The key to early retirement isn't reading the newest \"Five Insane Tips To Retire By 40!\" article through some heavily-funded content factory (i.e.: a magazine or newspaper). It also isn't about reading blog after blog that talks about the gory details of 401ks or the eccentricities inherent within average rates of return, stock yields or investment diversification.
Those are all perfectly legitimate topics to fine-tune your retirement strategy later on, but if you don't yet have a strategy to speak of, take a step back. See the forest for the trees. Don't get distracted by those topics.
But also, don't let your mind tell you that this early retirement business is too complex or just downright impossible in your situation.
Nine times out of 10, that's just your brain screwing with you.
Get a hold of your ability to REASON and start controlling your mind. Real comfort does not come from buying a bunch of stuff during your weekend trip to the store. Comfort - and I'm talking about the most fundamental element of comfort, is what results from figuring out what your level of happiness is all about.
For me, it's about drinking a cup of extra bold coffee and sitting on my [probably hand-made] deck looking out over beautiful red rock country of Sedona, AZ. On a Monday morning. When I'm 40.
What about you? Has your ability to REASON broken through the rubbish?
","tags":[{"name":"How to Retire","slug":"how-to-retire"},{"name":"Save Money","slug":"save-money"},{"name":"Retire Sooner","slug":"retire-sooner"},{"name":"Opportunities to Save","slug":"opportunities-to-save"},{"name":"Build Wealth","slug":"build-wealth"}]}},{"node":{"slug":"10-things-you-can-do-today-or-any-workday-to-save-money-now","feature_image":null,"title":"How to save money: 10 things to start doing today to save money and retire happy","published_at":"2015-04-15T12:00:25.000+00:00","primary_author":{"name":"Steve Adcock","profile_image":"https://www.gravatar.com/avatar/ae0b2f8d459bad06e6d287fa4a74b1ea"},"html":"If you are anything like me, you are constantly on the lookout for ways to save money that will make a difference, but also aren't hard. Now that we've whittled our budget categories down to where we think they should be (at least until our next budget checkpoint in a few months), I've been looking for little things that can help our savings grow.
My goal is to spend nothing, 0, zipola on weekdays when I'm stressed and more likely to buy things I shouldn't. We do our shopping deliberately on weekends with lists to prevent bad spending (intermittent spending, anyone?).
Here is a list of things I came up with that you can try to save money on any typical workday. Can you think of any others?
Why heat or cool the house when no one is in it? If possible, turn off your heat or AC all day while you're at work. If you live in extreme temperatures (like us here in AZ in summer), set the AC or heat to run only so your pipes don't freeze or you don't bake your electronics and house plants.
Then, have it change to a more livable temperature by the time you come home. Instant savings without you doing a thing. One of the first tasks I did when moving into my home was to install an electronic thermostat.
If I can do it, so can you :)
Most of us actually have to drive to work (unless you scored an awesome gig like Steve and work from home). Pick the most money efficient way to get there. I'm not saying everyone should bike or walk, but if you can, do it! If there is a bus, take it! Pick one day a week to take public transportation. Or at the very least, take the most fuel efficient car possible. Every little bit helps.
I understand coffee at work may not be the greatest brew in town. But it is most likely free. Take advantage of free stuff! I don't drink coffee but I do love my tea. I have a stash of nice loose leaf teas at home, but when at work, I drink the free bagged kind. It's good enough. And did I mention it's free?!? Free tastes pretty darn good.
Cafeteria prices are killer and the food is almost always sub-par. I swear the only reason people buy food there is because it's their only option (and most cafeterias know this). Except it's not. Bring your breakfast from home, even if it's prepackaged from Costco. You will know what the quality is like and it will be a lot cheaper.
See #4. Seriously.
Technology is wonderful, but it makes buying things way too easy. Resist the temptation to spend money online while at work. No searching eBay or Amazon on your lunch break. If it's something you really truly want (or, better yet, need) wait until the weekend to purchase it or at least until you get home. You never know - you might change your mind and think better of it.
Have you heard of the \"Eat the Machine\" challenge? Ugh. Not at all tempting, thank you. We all get hungry. We all want snacks. Can you guess where I'm going to tell you to bring them from? HOME! My husband is a sweetheart and makes me bags of airpopped popcorn to bring to work, but even the same snacks you find in the vending machine, if bought wholesale, will save you money!
If I need to stop on the way home for any reason, I plan my route ahead of time. Need to drop by the library to pick up that book and get gas? Where is the cheapest gas station? What's the most direct route between work, the gas station, the library and home? If there isn't one, can one of the two errands wait until tomorrow?
Everything is cheaper if you make it at home. Like to have a beer after work? Great! Stock your fridge. Same with your personal bar. If you're going to enjoy a cocktail, it makes it that much more enjoyable knowing that you are saving money as you sip. Same with dinner. There are a LOT of cheap amazing dinner options that don't take a lot of time. Check out Budget Bytes if you haven't already. We cook a lot of recipes from there. Also, think about investing in a crockpot. We often set our crockpot up in the morning and come home to a delicious almost complete meal. It makes the house smell amazing, too.
You don't have to go out to enjoy yourself once you get home. You could read a book from the library, or a few of the many blog posts from amazing authors sent to you that day, or watch a movie on Netflix or Amazon Prime, or take a walk with your loved ones, or play a card or board game, or have a deep discussion over deep topics over a drink or dessert, or relax and watch the sunset.
I hope these 10 ideas help inspire you to find ways to save money during your workday! If you think of another idea I missed, please let me know in the comments. As I said, I'm always looking for more ways to save.
","tags":[{"name":"How to Save","slug":"how-to-save"},{"name":"list","slug":"list"},{"name":"Save Money","slug":"save-money"},{"name":"Opportunities to Save","slug":"opportunities-to-save"},{"name":"Build Wealth","slug":"build-wealth"}]}},{"node":{"slug":"budget-march-2015-the-month-of-juice","feature_image":null,"title":"Budget March 2015 ~ The Month of Juice","published_at":"2015-04-01T21:00:29.000+00:00","primary_author":{"name":"Steve Adcock","profile_image":"https://www.gravatar.com/avatar/ae0b2f8d459bad06e6d287fa4a74b1ea"},"html":"Ever since we decided that the path for us is out of the rat race and into an early retirement of our choosing, the Mr. and I have been keeping an eye on our finances and scaling down our spending. Neither one of us were complete clowns, but we certainly weren't looking out for our future selves at anywhere near the level we want/need to be.
So in comes the budget. Budgets don't work for everyone and in the future it may not be necessary for us but for now it is the way we are buckling down and meeting the tough goals we've set for ourselves. Read more about how we budget here.
We are labeling March the month of Juice. Why? Because here in Arizona, March is the end of spring/beginning of Summer in terms of temperatures. We've already had a number of days above 90 (though luckily none above 100 yet). Why does that mean juice? Well in the winter, breakfast tends to be oatmeal. It's cheap. It's easy. It's warm. Perfect. However, on a 90-degree day, it's not quite as comforting so we switch to homemade veggie juice for breakfast.
We have a centrifugal juicer and each morning at 5:30am I whip up our concoction for the day. Normally it involves romaine, spinach, an apple, some carrots, and then I throw in cucumber, zucchini, beets or whatever else we have lying around the fridge. It takes some getting used to but both myself and the hubby feel great drinking our green juice in the morning. However, it does impact the pocketbook a bit. We never kept track of exactly how much juicing costs and therefore this month we are over budget in groceries, though not by much because, halfway through the month, I saw it coming and tried to head it off at the pass. Now, we know that cucumbers cannot go in every juice (we spent close to $25 alone on cucumbers!) if we want to stick to the budget. We will definitely do better in April.
The other big news this month was we refinanced our home. We've been planning it for a while and are pretty excited it's all done and over with. We dropped our interest rate by a whole percentage point. Although that meant our savings took a hit this month, we planned for it and know that we will recoup all costs within the year and then be able to save even more each month towards our long term goals.
Lastly, since we are 3 months into 2015, I thought it was time for Steve and I to sit down and evaluate the budget. A lot of the categories were educated guesses since we hadn't tracked our spending to this extent before. Thus, a quarterly evaluation seems like a good idea. This lead to us decreasing the budgeted amount in some categories and increasing it slightly in others. No big overall difference in the total amount we are budgeted to spend in a month, but hopefully a more accurate view going forward. We also decided to move all cleaning supplies, toilet paper, light bulbs etc out of our grocery budget and into our Home budget. This seems like a better place for this.
Anyway, we keep on moving and grooving along.
On to the numbers!
Another great month on the books.
Now, let's take a look at the money-shot numbers.
Total March 2015 income: $11,634.69 (My yearly bonus didn't hurt!)
Total March 2015 expenses: $4,339.65 (not counting the refinance costs), $7788.62 if we include them
This means our total March 2015 Take Home Savings Rate came in at: 62%. WOW! We again broke the 50% mark (though with a bonus so I don't know if this counts plus we took a bunch out of savings for the refinance)
And our March 2015 Total Savings Rate: 73% (includes maxing out our 401ks). And broke the 70% mark but again with the bonus so probably shouldn't count
Our net worth: $544,485.48. We're having some organization issues with accounts and as you can see in the plans below we hope to get everything streamlined next month.
We're doing great! Just gotta keep on keeping on.
Our Plans for March were to Keep Saving by:
Our Plans for April are:
Another adventure awaits!
","tags":[{"name":"budget","slug":"budget"},{"name":"Monthly budget","slug":"monthly-budget"},{"name":"Save Money","slug":"save-money"},{"name":"Get out of Debt","slug":"get-out-of-debt"},{"name":"Build Wealth","slug":"build-wealth"},{"name":"Money-Saving Habits","slug":"money-saving-habits"},{"name":"Getting Out of Debt","slug":"getting-out-of-debt"}]}},{"node":{"slug":"our-amazing-world-last-nights-halo","feature_image":null,"title":"Our amazing world: Last night's halo","published_at":"2015-03-30T14:34:46.000+00:00","primary_author":{"name":"Steve Adcock","profile_image":"https://www.gravatar.com/avatar/ae0b2f8d459bad06e6d287fa4a74b1ea"},"html":"Allow me a moment to divert completely away from the topic of financial independence a minute and talk about what an amazing natural world that we live in. Last night, one of our dogs - that RARELY barks unless something is truly wrong - started barking by the back door. Naturally, my wife and I responded, but there seemed to be nothing there.
![\"Last](\"https://thinksaveretire.com/wp-content/uploads/2015/03/halo-199x300.jpg\")
I went out into the backyard with my dog to check things out - again, nothing. I suppose it was a false alarm. But, just as I was about to call it a night and return to our comfy couch, I looked up and saw something amazing. It was one of the biggest, brightest and beautiful halos around the moon that I've ever had the privilege of witnessing.
Of course, the photography side of me quickly kicked in and I ran inside to grab my Nikon digital camera, a wide-angle lens and a tripod. I started shooting 30-second exposures and literally hoped for the best. Even in the pitch black (minus a few ground lights here and there), it is amazing the detail that can be picked out of the darkness with long exposures.
I remembered something last night, too. Our natural world, when we take a minute to observe it, is just amazing.
And if it wasn't for our dog who was seemingly barking at nothing, I probably would have completely missed this beautiful sight as my attention was entirely focused, perhaps ironically, on writing another article for this very blog.
But, some things in nature deserve our attention. The article can wait. Halos like this don't happen very often, and I'm glad that I got to witness it.
![\"Last](\"https://thinksaveretire.com/wp-content/uploads/2015/03/halo-2-679x1024.jpg\")
![\"Last](\"https://thinksaveretire.com/wp-content/uploads/2015/03/halo-3-679x1024.jpg\")
Okay, we are absolutely swimming in it this month - bonuses for both my wife and I finally got rolled into our bank accounts recently, leaving us with an additional $6+k (before taxes) in cash - beautiful cold hard cash. And I love the smell of money. I'm practically hearing the wonderful clinging sound of coins bouncing off of each other as they literally fall from the sky out of some invisible caldron of money!
Imagine the amount of bacteria, though, that gets onto our money supply. How disgusting.
![\"A](\"https://thinksaveretire.com/wp-content/uploads/2015/03/money-pile1-300x193.jpg\")
But, I digress. Focus, Steve.
Okay, back to the topic at hand. We have several thousand dollars of additional income sitting in our bank account. So, what in the hell do we do with all this beautiful money?
Maybe my wife and I feel like we deserve a treat. Hell, we both work hard all year long, so what's wrong with spending some (or all!) of our bonus money on shit that we probably won't use, but we still buy to bring us that tempting temporary happiness? Maybe we should live a little.
But no, that's not the smart thing to do with our money. The smart thing is to save. Forgo current happiness for the benefit of our futures. Right?
Well hell, an E* Trade survey apparently found that less than 28% of those surveyed use their bonus money to save for retirement. Less than 28%? What are they thinking? Why would people blow through additional cash so recklessly and without a second thought?
Oh crap, wait a minute. I was one of those people too. Steve, get off of your high horse, pal.
There was once a time in the not-so-distant past that I would have, well, spent that shit. I mean, almost all of it. Maybe a new camera or lens, new wheels for my (now sold) Corvette - that freaking money-pit of a car.
I remember one year I blew through the majority of my bonuses paying a landscaping guy to remove all the weeds (I'm talking man-sized mutant weeds) from my backyard, filling the area with decorative rock and building a little elevated grilling area with brick. Okay, maybe this added value to the home, but nothing that I couldn't have done myself...if I wasn't so damn lazy at the time.
A new computer here. A ungodly-huge flat screen monitor there. Oh hey, that new Chromebook looks totally badass, let's buy it! Fuck, I was a mess.
But hey, you live and learn, right?
This time, I'm being boring with my bonuses. Boring to my current self, but damn generous to my future self. Both my wife and I are saving 100% of this additional beautiful cash, and will do likewise with any other bonuses that we get throughout the year.
We're saving it all. Every damn penny.
You probably know by now that my wife and I have a dream. We have a dream of picking up our lives and moving up to Sedona, AZ in the near future to live out the rest of our lives surrounded by red rocks in northern Arizona. Gawd, beautiful country up there.
A part of that plan includes a town house purchase next year, and we are contributing a portion of our savings to the eventual down payment. Half of our bonus money will be plopped directly into our down payment fund and the other half directly into our long term savings account.
How boring. Totally boring. No new television. No upgrade to my Chromebook computer, monitors or photography equipment.
But come retirement time, this apparent boring use of our bonus money will be magically transformed into one of the best decisions that we've made - over and over again. Neither my wife or I want more crap around the house to maintain. We want northern Arizona.
Priorities, ladies and gentlemen. Jobless bliss in the very near future, coupled with stunning beauty in 360-degrees, is our priority.
Let's make it happen, one bonus at a time!
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