So Much Time & So Little To Do!

Wait a minute. Strike that – reverse it! I know, I know, I haven't updated this blog in months. What gives?! If things get any more sporadic around here I'll be on the Miss Mazuma publishing schedule! 😉 Maybe I should adopt the slogan of Wait, Buy Why and claim that I'll have “new posts every sometimes”?

But seriously, it's been a very busy (but exciting!) few months for me. Instead of publishing something for the sake of schedule, I'd rather focus on quality over quantity when it comes to these posts. I have a few new ones in the works, but I'd rather take my time and deliver the same standard you've come to expect from me these past two years…

Two years to the day, in fact! On this day two years ago, this crazy blog was born at CampFI in Gainesville, Florida. A lot has happened since I launched this blog: I sold a rental property, exercised my FU money, quit my job, and eventually reached financial independence! I watched this blog grow from an average of five readers per day to over five hundred daily visitors! And I met a ton of amazing new friends, many of whom I saw IRL for the first time at FinCon this past September!

So… what's been keeping this early retired guy so busy these past few months?

Creative Stuff

This Christmas, I collaborated on a really fun project with Scott of I Dream Of Fire and MSF of My Sons Father to create a FI Christmas video featuring Jonathan and Brad of ChooseFI, Scott from Bigger Pockets Money, and even Suze Orman! My brother and I created the music at my home recording studio, Listen Loud Music. And I performed those smooth crooner style vocals myself 😉 . Lyrics were written by Scott, and all the great Lego animation was created by ‘My Sons Father'. If you haven't watched the video yet, it's a real treat:

Speaking of music – my brother and I actually just completed an ambitious project we've been working on for a few years: we created the soundtrack for an original musical! Think Frozen meets Aladdin, but with a fresh sound- we essentially took a stab at creating a soundtrack for an imaginary Disney movie. It's called Cannetella, and it's based on an old Italian fairy tale of the same name.

My brother John and I at work in the studio

It was a TON of fun to make, and we finally published it online. The Wife and I had some fun laying down the demo vocals, so if you're into musicals, you can stream it for free right here:

And if you really can't get enough of hearing my voice, I'm happy to announce that I'm now a podcast host! My friend Lauren and I just launched our brand new podcast In Love and Money, which explores topics like combing finances, retiring single, prenuptial agreements, marital money disagreements, and much more! We're on iTunes, Stitcher, Spotify, or wherever you listen to podcasts. We're aiming for new episodes every other week, and you can start listening right here:

And in a bizarre colliding of passions, my music life and blogger/podcaster lives are combining, as I've recently started licensing my original music for podcast use! That sweet theme music you hear in the In Love And Money into is the instrumental version of my song Juliet, and Cody and Justin on The FI Show are now using the instrumental from my song The Real Thing. A few other podcasts will be using my music soon as well, so this is turning into a pretty cool side hustle! If you know anyone who needs original music, send them my way!

Sweat & Hard Work

Alright, that pretty much sums up my “sitting in front of a computer” style work; now let's talk about some of the more physically demanding work I've been up to.

Mr. Money Mustache says that hard work is the key to happiness, and he must be on to something because I've been working harder and feeling happier than I have in a long time! One week per month, I've been traveling down to south Florida to spend time shadowing my dad, who owns his own home repair business. A third generation contractor, my dad is the handiest guy I know, but I never learned his trade growing up. My parents always insisted I study hard, go to college, and get a good degree, and so I never really picked up the handy gene.

Here's Dad and I pouring a new concrete slab in his back yard

But that's changing fast – each month I'm working on different jobs with him, trying to absorb as much knowledge as I can. Here's just a sampling of some of the things I've learned lately: Deck construction and replacement, fence repair, AC unit maintenance and troubleshooting, garbage disposal repair, installing outdoor electrical receptacles, roof repair… the list goes on.

All these skills are great, but being able to spend more quality time with my parents every month is one of the best benefits of being financially independent: I finally have time for the important stuff. I'm so thankful for this – I've gone from seeing my parents three or four times a year to seeing them once or twice a month. As an Italian, family is one of the most important things in life, and I'm so lucky I have the opportunity to spend more time with them.

Dad and I working together on a roof in South Florida

All this hard work with my dad increased my ambition for making improvements to my own home, so I recently started the process of re-landscaping (de-landscaping?) my back yard. The previous homeowners decided to put a large berm of plants and trees directly in the center of the back yard. While it did provide privacy, having a giant planter in the middle of the yard was less than ideal. So I've spent the last week clearing brush, transplanting mango and citrus trees, and leveling land. Check out some before and after photos:

Before: A ton of overgrown vegetation taking up the majority of our yard.
After: we have a yard again! I still have to fix up the fence and the sod, but it's a start!
Another angle showing how much more space we have now.

This was hard but rewarding work. And I had the physical strength required to do this project, thanks to the custom workout plan my brother made for me when I started early retirement. For the past year, I've been following his plan:

  • Mondays (Chest):  flys, bench press, incline press, and decline press
  • Tuesdays (Legs): extensions, curls, squats, and calves
  • Wednesdays (Back + Shoulders): pull-ups, rows, and shoulder press
  • Thursdays (Arms): close grip bench, skull crushers, dips, curls

This plan is perfect for me, as I get to frontload my workouts at the beginning of the week, leaving three-day ‘weekends' for travel, rest, and leisure. Most workouts take about an hour or so to complete. Since first starting my brother's program over a year ago, I've put on fifteen pounds of muscle mass, and increased my resistance on the bench significantly.

My brother shares a Google doc with me so he can set my goals for each week
My squat numbers have more than doubled. And I went from being able to do only six pull-ups, to doing four sets of fifteen pull-ups! This strength came in handy pulling out roots, moving trees, and lifting heavy bags of yard debris. My brother's taking on new clients, so if you think a custom-tailored workout plan might help you achieve your fitness goals this year, email me and I'll put you in contact with him.


It hasn't been all sweat and hard work, however. While working on this daily exercise routine, I started listening to all of the Harry Potter audiobooks. I don't know how it happened, but I'm that guy that must have lived under a rock these past two decades because I missed out on the whole Hogwarts craze. But during my workouts, I ended up listening to the entire 125 hours of magic! According to the sorting hat on Pottermore, I'm a Ravenclaw, and this really resonates with me! Gryffindors are brave to a fault, and Slytherin are often too ambitious for their own good, so its no wonder my favorite character was Luna Lovegood.  I really, really enjoyed these books! 🙂

In other fun happenings… I got to sit down with Rita Skeeter… er, I mean CNBC reporter Anna Nova, along with Big ERN and the Physician on Fire at FinCon this past fall, resulting in this CNBC feature on early retirement. It was a lot of fun, and I love seeing positive news like this in the media.

Last but certainly not least, I just got back from CampFI Southeast in Gainesville, Florida, where I gave a presentation on how to think about money, titled “So You Want To Be Rich?!”. It was really well received, and you can watch the entire presentation right here:

If you've never been to CampFI or Camp Mustache, you really should go. I've been to four of them, and they are truly amazing experiences. I wrote a review about the first camp I ever attended here.


So there you have it. A new post that is essentially a well-organized list of excuses for why I haven't made a new post lately. 🙂 But you know what? That's part of the beauty of financial independence – I get to work on what I want, when I want to! Between my new podcast, my various music projects, and preparing for my presentation at CampFI, my post schedule around here has become a bit sporadic.

That's not to say I haven't been working hard on the blog… I have a dozen drafted posts, including an update on our current portfolio and allocation, our future drawdown strategy, and my take on the current sale going on in the stock market (hint – if you don't already front load your investments, now is the time). These posts will all be rolling out over the next few … well, we'll see.

Thank you, dear reader, for an amazing first two years!

Interview With ‘The Wife’!

If you've been following this blog for a while, you've no doubt heard me mention ‘The Wife' on numerous occasions. The ying to my yang, The Wife is my level-headed better half, the one who keeps me balanced and grounded, not only financially, but in all areas of life. I've wanted to interview my partner in crime here on the blog for months now, but thus far she's preferred to stay out of the spotlight, only providing her influence behind the scenes. But as our following has grown, more and more readers have requested to hear her side of the story!

I think this interview is particularly interesting because we don't actually see eye to eye on the topic of money. You might think that since we're on the journey to FIRE together we'd have the same opinions on all things financial, but this simply isn't the case! This isn't a bad thing… in fact, our differences may be an essential ingredient to the balance that has fueled our financial successes thus far. Without further ado, I present, The Wife!

Joel: Hello Wife!

The Wife: Hi!

Joel: OK, to start things off, let's talk about your alias. Here on the blog, I've always referred to you as ‘The Wife', with a capital definite article, as in ‘The Boss' or ‘The One and Only.' Recently though I've been getting feedback from readers saying this could be misconstrued as objectifying or demeaning to women, which is obviously not my intention. How do you feel about the alias ‘The Wife'?

The Wife: I didn't know it had a negative connotation… I look at it more like ‘The Godfather.' Then again, I have been known to use phrases incorrectly, so there's that. ‘The Wife' is OK… as long as you don't start calling me ‘your old lady‘, I think we're fine. Maybe I can just be a symbol like Prince was? Next question.

The Wife is purple.
The Wife is purple.

Joel: OK. Our financial ‘habits' have been a roller coaster over the years. I've always considered you to be the more moderate one in our relationship; when I was super spendy, you were cautious, and when I went on to extreme savings, you pushed back quite a bit. What does this look like from your perspective?

The Wife: I think if you were to graph our spending over time, mine would be a much smoother, less volatile curve. It definitely feels like you ping-pong sometimes. I'm no Jacob from ERE, but I was able to do some of the more ‘extreme' savings stints with you because they were time bound. It's like they say in my spin class: “You can do anything for a minute, just keep those RPMs above 100!” You can do anything for a minute in the same way you can do some really extreme frugality for a short amount of time to kickstart your savings, but it can take a toll after a while. There's some point where you want to back off a little bit and find where your comfort zone is when you're not pushing yourself to the extreme. I feel like we're still working on that.

Joel: I remember when we first met back in high school, you had a pretty sizable savings account (which I quickly depleted with restaurant spending – I'm not proud of this). Have you always been a saver? Did your parents instill the value of saving money in you from an early age?

The Wife: I've always been more on the savings side, but I wouldn't say I've been miserly or anything like that. I opened my first savings account with my dad when I was around seven or eight years old, and I'd been saving a lot of my birthday money since then. That's why I had a little bit of play money saved up when I got to college.

Joel: From my perspective, it was a lot of money. As a teenager in a household that really didn't save much, I had never seen four figures before, and had no sense of how much money that actually was, other than ‘a lot'.

The Wife: Savings was just something we did in my family. At the same time, I wasn't a penny pincher – I still spent money on things I liked, not just things I needed. I wasn't afraid to use my money to buy things I enjoyed. More people in my family have been savers over the years as well. You know, my grandmother's a depression baby, born in the 1920s, and saving has always been very important to her. Not just money, saving ‘things' as well – ‘You never know when this will be rationed‘ she says. It sounds a little crazy today, but yeah, that's how I was raised. And my dad, he's always been a big saver as well.

Joel: He was a banker for some time, and dealt with finance quite a bit, so to me it sounds like maybe your family has always valued saving money, whereas my family never really saved much. Everything that was earned was spent… as soon as it came in, it went out. Now to be fair, my dad was self-employed with his own home repair business, and never really made more than $30k a year, so there wasn't much extra to save in the first place. But, if he had a good month and made a little extra, he'd take us out for ice cream and McDonalds and bowling and such.

The Wife: Ha! Oh that is so different from my family. “No” was a word my parents used very liberally. While I did get some nice treats for Christmas and birthday presents, the majority of the time it was always like “No, why do you need that? You don't need that. Put it back.”

Joel: Well, mine too, but out of necessity, not out of self-control or financial discipline. I think this is a huge distinction, the difference between saying no out of necessity vs. saying it with the intention to deliberately prioritize savings. Now I should give my parents a little bit more credit… while they weren't very good at saving money for themselves, they were still able to pre-pay my college education, which was awesome. When I was young my mom worked a night job to help make that happen, and I'm grateful for it. So I think it was just a difference in upbringing, and very different levels of experience with money. I was also the first in my family to ever go to college, while you come from college-educated parents.

The Wife: Yeah, from a very early age I heard “If you spend all your money on X, Y, and Z, you won't have any money left over for later.” I can see how things would be different if I never had that foundation.

Joel: So I'm curious, where do you think our philosophies on money align? Where do they differ most?

The Wife: I think we really align in areas like avoidance of debt, looking for value, stuff like that for sure. We both like looking for a good deal for example.

Joel: I feel like you don't have the fear of ‘sticker shock' the way that I do when it comes to large purchases. House shopping, car shopping, any big ticket items, I think you adapt to large numbers easier than I do. You can see the value and be OK with it, whereas I tend to get stuck.

The Wife: It's not that I'm immune to sticker shock, trust me, I still get it too, but it's more like being able to understand what you want, and what the market price is. I think I'm more easily able to rectify that and accept “This is what the market is commanding”, and either buy it or move on. Once you get over that hurdle it can be a lot easier to make financial decisions.

Joel: Another area we differ is in terms of patience and planning. I've always been a more impulsive person; If I see something I want at what seems like a good price, I'll pull the purchase trigger that same day, regardless if that item is a television or a car. Once I've convinced myself, which usually only takes a few hours of research, I'm excited to jump. You've always been significantly more cautious though, taking weeks or months to research larger purchases. What are your views here?

The Wife: I've always believed in waiting at least 24 hours before making any large purchase. Sometimes you can take it to the extreme and say “if I wait long enough, maybe I won't even want or need this item anymore!”. But yeah, I like to do the homework, I like to understand price history and trends, etc.

Joel: Yeah for a larger purchase, you are definitely the one in the relationship who could pull off a strategic long play. I'm … still working on this. I'm usually just too impatient. Do you think we balance each other well, or would you prefer if I were a bit less impulsive?

The Wife: I would probably prefer a little less, but then again, your impulsiveness has opened up a lot of adventures, and it can help me make a move in situations where I might be stuck, and I think that yeah, that's a good thing. I sometimes have a way of just swirling around, and thrashing in decision making, and get stuck in the ‘what if I could somehow get this for cheaper' game. Sometimes you just have to say ‘OK, I've done enough homework, I'm confident, let's do this.'

Joel: OK next question… Early on in our FI journey, I saw FIRE as the answer to all my problems. To me, FI was the golden ticket, at least at some unconscious level. You knew better and warned me that any issues I had pre-FI wouldn't magically resolve once I quit my job. Sure, leaving a job you hate can do wonders for your stress levels, but it's not the answer to everything. In fact, most of the ‘revelations' I've had about myself and life post FI, you saw coming. Do you think this plays into our differing philosophies?

The Wife: Well it's easier for me observing from a distance; I'm not clouded by the stressful job like you were. I think sometimes you can be short-sighted about what you're really getting. Maybe this speaks to the difference between financial knowledge, and financial wisdom… having the knowledge is one thing. The wisdom is where you reflect on your history to know how to respond in the future. You know the side effects and context. It's hard to have that wisdom if you've never done something before. You can try to learn from others but sometimes it's not the same.

Joel: So… Hindsight is obviously 20/20, and we've made a lot of mistakes on our path to financial independence. If you could go back and do some things differently, what would they be?

The Wife: I would tell myself to speak up a little bit louder when I knew something wasn't right. We could have avoided buying that house in 2007… but then again, if we didn't work through those mistakes, we probably wouldn't be the people we are today. I think if I could go back and cement a FI philosophy a little earlier, that would have been nice though. I would take more of a Simple Path To Wealth approach… save half my income, go a little slower than we did, enjoy the journey, get there when we get there. More of a ‘slow and steady' works better for me… the thought of working 40 or 50 years doesn't sound great, but the thought of working like 20 years is OK if I can live a little along the way.

Joel: You've said numerous times that you think that my desire to race to the finish line was influenced by the fact that I was on a horrible program at work.

The Wife: Yeah, I think that's a difference between us; I experienced a terrible work program very early in my career, before the concept of FI had solidified for me. I was working third shift, overtime, missed vacations, etc. So in comparison to that program, basically everything work-wise has been improving for me. I like my current job.

Joel: Whereas my very last job was a horrible one, so it's tainted my views of work a little bit. Going out on that job, finishing my career in software on that note, it's left a bad taste in my mouth.

The Wife: Yeah I see that, but I also have a bit more of the ‘this too shall pass' philosophy. You're not going to be in one job or one program forever. It doesn't need to be so polarized where it's “I'm going to quit my job forever”, or “oh I need to keep slogging through this because there are no other options.” Being closer to FI doesn't solve all your problems for you, but it does give you options. For example looking back, knowing what I know now, I would definitely tell myself to go on that winter vacation I skipped for work!

Joel: Oh that's right – I forgot you missed the whole Canada trip because your program was on mandatory overtime back then.

The Wife: Yeah, it's a balance. I don't want to leave my teammates hanging, but at the same time, you do have to look out for yourself. FI makes it a little easier to do that.

Joel: OK, next question, I think our journey to FI has brought us closer in many ways… but I also realize it's been the source of numerous arguments and disagreements between us. What advice would you give other couples who are just starting on the journey?

The Wife: It's good to give anything a try, at least once. If one person in the couple wants to test out FI, why not keep an open mind and give it the old college try? If you try it for a few months and it's not working out for you, you have to speak up though. It helps to define your terms, thresholds, and tolerances on things.

Joel: Spoken like a true engineer.

The Wife: Well it's true, you need to define things up front so you're both on the same page. What are your long-term goals? Where do you want to be after FI? I also initially got caught up in the “Oh I'm gonna quit work forever and it's going to be great!” but I realize now there are things I really do like about work. Sometimes it's the actual work, but sometimes it's the socialization. I like to see people in my day.

Joel: I do miss that about the office. Coffee breaks with friends, discussing the latest pop culture, all that good stuff. I underestimated the importance of the social aspects of work.

The Wife: Yeah. As you get older, work can become your primary source of socialization. But getting back to the couple question: each side needs to be able to discuss things openly and be OK with where the other person is coming from, and what they are really looking for. What is your life actually going to look like post FI? Be realistic.

Joel: The idea of retiring TO something instead of retiring FROM something?

The Wife: Maybe. I don't know. Sometimes I do align with the Internet Retirement Police; sometimes I'm like “doing nothing in retirement sounds really good, actually”! I want the ability to do nothing if and when I want, and not be criticized for it. I don't have as many passion projects as you do, and I don't know that I'm as self-motivated, so if I want to do nothing then that is OK with me.

Joel: I think another thing people should realize is that as a couple you aren't going to agree on everything. You're not going to see eye to eye on everything, and that's OK. Everyone has different points of view and different comfort zones. Because FI is challenging; going on this journey isn't easy and everyone has different areas where they feel more pressure, everyone has different breaking points.

The Wife: Yeah. I think another thing couples forget is that people can change, but really slowly, over time. So don't bet on changing the other person overnight. After we started going ‘pedal to the metal' for a few years, my views on all of this have changed a bit.

Joel: So how do you feel about continuing to work after FI, and the whole ‘FI without RE' subset of the community? What does FI bring to the table for you, if you keep working?

The Wife: My personal preference is to lean towards continuing to work if you enjoy it. This is especially true now, at our point in the journey, because our FI numbers don't match up. Maybe my opinion will change when I've gone way past the number in my head. But I'll probably always keep doing some base level of work, because it helps me stay challenged and social. But as soon as it's no longer fun, I can switch to something else with no need to think about the financial implications. I could potentially change careers or do something completely different with none of the financial stress you'd normally encounter. Money becomes one less thing to worry about, so I can focus on life instead.

Joel: OK next question: I look at you as the more traditionally frugal one, whereas I tend to fall towards what some people might consider ‘cheap'. Where do you stand on the ‘Frugal vs. Cheap' line?

The Wife: Hmmmm. It's a spectrum. I think everyone has places where they are cheap. You can't really just say a person is cheap, it's too simplistic. I view myself as more of a what Brad on ChooseFI called a ‘valuist‘, someone who doesn't mind spending money on something if it brings them value. Think back to that Harmony remote we bought like eight years ago. It was expensive, but it replaced like ten remotes, and it does its job very well. I look at that as a good purchase.

Joel: That remote was $300 though. The new me, post our financial 180, looks at that number and says “That's way too expensive. Who pays hundreds of dollars to change the channel on their television?!” If that remote broke tomorrow, I don't know if I'd have the stomach to replace it with another one.

This is a first world problem.
This is a first world problem.

The Wife: But it does everything we want it to do, and we still use it, almost a decade later. How many $25 remotes did we buy that were all slightly annoying, that never really solved the problem? I enjoy the value we get out of that remote. You're on the other swing of the pendulum now. Before our 180, you would have purchased that remote on a whim, and thrown in a new TV with it because, why not, we had the money. Now you're far on the other side. I think you'll be less conflicted closer to the middle. Not everything in life is solved with some purchase (if you're solving all of life's issues with a credit card, you have a problem). But at the same time, when you do encounter something that will actually improve your quality of life, something that solves a real problem, buy it. That's what money is for!

Joel: Next question. Are there any areas of FI you struggle with?

The Wife: This might be my confessional time, but sometimes I struggle with the thought of being judged by the FI community. It feels like there are rules about what I can and can't buy, like “Oh you can't be part of the FI community if you're buying a $200 backpack.” That's something I kind of struggle with. What if I buy a new car one day? Or a nicer house? Does frugality mean I can't enjoy expensive things ever again? But then I think to myself, who cares? If you can save enough money to reach FI, and you're happy with your savings rate, do what you want. Buy what you want. Enjoy the ride. Don't worry about what others think! Though I do worry sometimes that I might over evangelize, or oversimplify things because I've had a relatively smooth journey to FI for the most part.

Joel: Well, smooth because we had a financial goal and achieved it in a relatively short amount of time; not because we avoided mistakes along the way. We did so many things wrong, and from that perspective, the journey was quite… bumpy.

The Wife: Yeah, we made a lot of bad decisions early on, and I think we've gained our financial wisdom through those mistakes. Going back to other things I struggle with: trying to always score a good deal, and settling for certain things in order to save money. It gets tiring. I feel like that was more important earlier in the wealth accumulation phase, but now that we've come so far, maybe I don't need to over-optimize every small purchase, especially the ones that are a small fraction of a percentage of our net worth.

Joel: Yeah, finding the right balance is a moving target. You don't want to make it rain every time you go shopping, but you also don't want every single purchase to cause you analysis paralysis.

The Wife: Exactly. Either extreme is dangerous. You don't want to spend all your time calculating if you should drive an extra four miles out of the way to save six cents per gallon on gas or something like that. You don't want to over optimize to the point of diminishing returns. Optimize the big stuff, use heuristics on the smaller stuff, and don't freak out about every purchase. Especially once the big stuff is on autopilot.

Image: 2018 XKCD
Image: 2018 XKCD

Joel: OK one last question: are there any areas you wish got more coverage in the FI community?

The Wife: I feel like elderly care, caring for aging parents, caring for people with special needs, these are areas that haven't received much attention in the FIRE space. I have a sister with special needs, and of course, my parents aren't getting any younger, so I need to factor some of that into my long-term FI plans. It's another reason my FI number is different than yours. I think these are important topics, and I haven't seen a lot of coverage in the FIRE community.

Joel: It's like another stage post FI; where you've got yourself and your immediate family taken care of, but maybe not your parents, or some family that might need extra help. It's like another chapter of the journey. I think a lot of times what we focus on in the blogging community is the theory, the idealized case, the proof on paper; but in real life, you have a lot of variables, like family members who can't take care of themselves.

The Wife: Yes! I would love to see more written about that.

Joel: Well thank you, The Wife, for finally sitting down and doing the interview! I think this went really well- I have like a dozen new blog post ideas from this one conversation! Where can people find you if they want to chat?

The Wife: People can follow me on Twitter and Instagram, but be warned I am pretty terrible at replying to people in a timely manner, so… you've been warned.


So there you have it! At long last, after many reader requests, ‘The Wife' shares her two cents. If you have more questions for her, leave them in the comments below and I'll pester her until she replies 🙂

Bigger Pockets Podcast

Last week, I was a guest on the Bigger Pockets Money podcast, hosted by Scott Trench and Mindy Jensen! Listen to the podcast here:

Inside the Episode:

We’re on ChooseFI!

This week, the wife and I were guests on the ChooseFI podcast! Brad and Jonathan had us on the show to discuss our Financial 180, and we had a blast.

Listen here!

Some highlights:

024 | FI180 | Make a U-Turn and Choose FI

Subscribe to ChooseFI: iTunes | Android | RSS

A Letter to My 22 Year Old Self

If you could go back in time a decade and tell your younger self anything, what would it be? What advice would you give? What would you do differently, given advance notice?

Back in 2017, I wrote a letter to my younger self, describing why Financial Independence was so important to future me. It was originally published on the Fiery Millennials blog, and it later became a featured story on the Fiology website. It's one the posts I'm most proud of, because it really gets at the “Why of FI”, so I'm republishing it again here. Enjoy!


Hello, twenty-two year old Joel! Greetings from a decade in the future. There’s so much to catch you up on: There’s a new Power Rangers movie! Apple makes cell phones now! And we have electric cars that practically drive themselves!

But there’s a serious matter I want to discuss today: your future happiness. Let me describe two possible futures for you, each a decade away:

Future 1

Picture this: you graduate from college, move to a new town, and get a high paying software engineering job. You immediately buy a beautiful new house, new furniture, and new cars. You live in a fancy gated community with elaborate fountains and walking trails. Friends and family to come visit, and they marvel at all the nice things you have!

You buy all the newest tech toys every year, and consider yourself an ‘early adopter’ of technology. Sure, you pay a premium for the privilege, but you can afford it with your salary. You’ve always loved the latest computers, gadgets and gizmos. It’s why you got into computers to begin with!

You get married to your high school sweetheart and enjoy an extravagant wedding, a tropical honeymoon, weekly dinners at 5-star restaurants, and monthly massages at the spa. You are also quite the jet-setter: you travel nearly every other weekend, all across the U.S., visiting friends and family. Your credit card has no limit, and when you think of something you desire, you buy it. This future is high-class living: you blew past the Jones’ years ago.

Said fancy house

Future 2

Picture this: five days a week, your alarm clock wakes you super early, and you stumble from bed groggy from lack of sleep. You get dressed, make coffee, and race out the door to sit in traffic on your drive to work. When you finally arrive, you sit in a cube and write code for hours on end. Same sights, same sounds, day in and day out. Same people, same faces. Same widgets, different day.

You would think a technology job would interest you, but over the years you realize it’s all the same: write yet another version of an already existing widget for a program that is behind schedule and over budget. You’ve tried changing jobs, but it’s no use. New code, new cubicle, same prison sentence. The fluorescent lights flicker above you glance down at your smart watch and notice it’s 73 degrees and perfect outside. Your legs ache to run outside and enjoy it, but you can’t: you are too behind on your milestones. You are always behind, actually. You’ve tried coming in earlier, staying later, working through lunch. Nothing works.

You check the clock every ten minutes, hoping time would move faster. All you want to do is go home. Tick, tick, tick, tick. The watch hand moves so slowly. When the day is done you still haven’t completed your milestones, but you are happy to leave. You get back into your car and sit in traffic on the commute home, driving past all the same sights and sounds. You do some mental math and realize you’ve driven this route over twenty five hundred times. You’ve seen all these same sights and sounds over twenty five hundred times. You’ve gone home and vegged out in front of the TV to clear your stressed out mind over twenty five hundred times! You’re in an infinite loop, and in just a few hours, you’ll be waking up at the crack of dawn to do it all again.

Your health is not what it once was. You don’t have enough time to exercise regularly. Hell, you don’t even have time to go on walks anymore. You don’t have enough time to cook healthy, either. You can actually feel your health slowly slipping away. It’s gradual, and it sneaks up on you over the years. Your mind isn’t as sharp as it once was. You look in the mirror and you realize you aren’t quite the person you remember. You notice all the grey hairs starting to come in. You think about the email you received from your department administrator earlier in the week, breaking the news that one of your coworkers passed away over the weekend. He was only in his early sixties, just a few years away from retirement. It’s the third email like it this year.

OK. Which future do you choose? Hint: It’s a trap!

These two future scenarios are exactly the same! The bleak life you live in the second is simply the price you must pay to ‘enjoy’ all of the fancy things in the first. All of your free time is spent working, the fun part of your life has been on hold indefinitely, and you rarely have free time to enjoy the shiny things you purchased in future 1. Somehow, this is a normal and accepted part of becoming an adult! Let me be crystal clear here: IT IS NOT WORTH IT!

Here’s the thing: all those luxuries in future 1 are superficial. The new house and cars, the fancy furniture, it’s all a sham. None of it actually brings you any long-term happiness. After a few months, the shininess fades, and you are back to square one. It’s called the hedonic treadmill. The things you are sacrificing for those luxuries though- your music projects, the ability to control your own schedule, having free time to spend with friends and family- these things really did contribute to your happiness, back when you had time for them.

Even if you think you want all those luxuries in future 1, you can still have them. Just not now. You have to wait until the time is right. When is that? When the purchases you want to make are only a small fraction of your overall net worth.

For example: Your net worth is currently around $100. Don’t pretend like it isn’t- I remember being 22. I’m you- remember? Let’s say you want to buy a $400 pair of designer sunglasses. That purchase is 400% of your net worth. (Not good, but with a positive net worth, you’re already doing better than half of the U.S. It’s a low bar.) Now, let’s say you wait six years, work hard and save a large portion of your income, and get your net worth up to $400,000.00. (I know it looks like a large number, but it doesn’t take as long as you’d think to save it.) Now, you buy that same pair of sunglasses. But this time, that $400 purchase is a mere 0.1% of your net worth. A tenth of a percent doesn’t even move the needle. You can comfortably afford it now.

Ironically though, even though you can, you won’t want waste your money on such a frivolous purchase. Because when you finally get good at saving money, you start to respect it more. You learn how valuable it is, and how much freedom it can buy you. Not to mention: you don’t have fancy sunglasses right now, and your life is still pretty great.

You’ve Already Got It Good

Actually, your life is freakin’ awesome. You have it so good right now, and you don’t even know it! Your ‘workday’ consists of classes and homework that average out to about 5 hours per day of work, including travel time. That’s the equivalent of a 25 hour workweek, bud. Your workday never begins before 10:30am. Ever. You enjoy breaks in spring, winter, and summer, as well as two weeks off between semesters. If you add it all up, that’s the equivalent of almost 8 weeks of vacation per year. (You haven’t realized this yet, but even the most generous U.S. companies give only 4 to 5 weeks paid vacation per year. Not 8.)

Time for vacations like this

You walk all over campus, nearly 5 miles per day and it is great for your health! You’re constantly bombarded with exciting new sights and sounds, and you get to spend time with friends every single day. You take it all for granted. It’s just everyday life for you right now. You have so much free time. If you look at the ratio of free time to work time, you’d see that only 30% of your waking hours were spent ‘working.’ That leaves 70% of your time to enjoy family and friends, write music, and start other creative endeavors.

Compare this with you from the bleak future, where you spend more than twice as much time working, get half the vacation time, and rarely have time to spend with friends and family. A few months from now, when you purchase all that shiny new stuff, you unknowingly make a decision to put the good parts of your life on hold for over a decade.

What Can You Do?

It doesn’t have to be this way! You, young Joel, are in the perfect position to change this! Google ‘financial independence’. Start saving more than half of your income from day one at your first job. It’s easy: as soon as you start your first job just set your 401(k) contributions to 50% (or more if you are feeling adventurous)! You’ll never see that money– it comes out before your pay check- but it is still yours, and working hard to buy you your freedom. Don’t worry- your paycheck will still feel large: you have nothing to compare it to. Seriously, you only have $187 in your checking account right now. Any paycheck will feel substantial.

You’ll only have to work about a decade. Maybe less. That’s right- you could be DONE with your working career forever by your 30th birthday if you want. I know that sounds crazy right now, but trust me, you can. Want to shorten it even more? Stop blowing your grant money on a fancy two bedroom apartment! Stop blowing your internship money on fancy restaurants! Take some of your free time and learn to cook for Pete’s sake!

You don’t need a car on campus, and you take for granted how nice it is not having to sit in traffic every day. Walking and biking are massive life enhancers! When it comes time to move, don’t buy a fancy house 12 miles from work. Instead, rent a cozy little apartment within a mile or two of your employer, and walk or bike every day, like you do now! Location is key. Skip the car, gas, and toll expenses, and simultaneously skip the traffic. If you must, buy a reliable four years young Honda for $5k and drive it sparsely for a decade!

I can see your eyes glazing over, Joel. You aren’t paying attention. I forgot how stubborn you were at that age… how stubborn I was. You know what they say: some people can learn from other’s mistakes. Others need to make their own. I guess you fall into the latter camp. Sigh. Not all is lost, Joel. You’ll realize what I know now around your 30th birthday, and you’ll do a quite dramatic financial 180. It will be a wild ride, and you’ll kick yourself for not listening earlier. Once you get there, once you have your freedom back- hold onto it tight, and don’t ever let it go.

Until we meet again, a few words of advice: Time moves much faster than you think. Be careful not to obsess over money: make sure it works for you, and not the other way around. Pay attention to your wife: she’s been right about this stuff all along. Don’t let any job eat away at your morals. And visit mom and dad more often. While you’re there, play with your childhood pets a few more times. Some things don’t wait around forever, you know.