Originally Posted by HoffaLives
Hmmm, that assumes I have some. Which I don't 'cause it all went into the freakin' boat!!
I know how to make money. These days you have to try real hard not to make money; the economy is blazing and boomers are throwing around dough like popcorn at a re-release of Blazing Saddles.
However, I have to figger out how to make money and love what I'm doing.
I love to do a lot of things, and I can live with making money, but even after all this time I don't know how to fit them together. I thought that by living aboard it would free me up and that I would be done with that crap. Hah.
It's the wife's fault.
Time to open another beer and hit myself across the head with it once it's empty.
Hoffa, I know where you are coming from. That is all kind of the point of the thing, that these folks cut their expenses to live on the interest from their savings. That does NOT mean they had a lot of savings, they don't - the numbers they have in the book were really low by U.S. standards, certainly living under the poverty line. I think they said the more recent numbers were like 1700#uk, which I don't know what that is now, but at the time they were writing that was probably like 3k$us/year. That's THREE thousand $us/year. So they were probably talking about savings 20 times that, or about 60k$us, they didn't say that but that's just a number I throw out there as a guess.
Of course they had to cut back living on that amount, but I was impressed by how well they seemed to live with a little extra effort. Of course they cook, they don't eat as much meat as I would prefer in my own diet, and there are some other things they do that I am not sure I would want to do. But still, in the end, they do not have to work anymore if they don't want to, so long as they keep their expenses low enough to live on the interest from their money. And they didn't seem to be hurting for anything, I mean that amount of money comes out to be like 25$us/week for each of them, and everything comes out of it. So I guess a big luxury for them would be to go and see a movie or something. But can you imagine having that kind of freedom ?
I think the thing that impressed me was how happy they were to go to work when they decided they wanted to. They didn't even think in terms of "I'm going to make 10k$us", they thought more in terms of "This will mean an extra 1$us/week interest income, so we can buy another dozen eggs every week". Those words are mine, not theirs, but you get the idea. Edit, oh and I should add that I think in my reading that I remember they did adjust for inflation too, so their savings did not dwindle over time.
Edit, I'll add one more thing. What I liked about this thought beyond the specifics is that there is just something cool about knowing your money can get you something. I mean, if you can save even a small amount of money, even if you just save 5k$us, then that means you have an income of about 250$us/year, which even with that small amount of money means that the world will feed you rice and beans for the rest of your life and you don't ever have to work another day in your life for it. That's the kind of thinking in the book, just living not only within your means, but really trying to save your capital and only live on interest.