This following is a guest post from Martin of Studenomics.
You only live once. A phrase that’s usually followed by some very careless action. Do you only live once? Is early retirement extreme not an option? What I love about this site is that it explores the possibilities of what can happen if you make the right moves in your youth with your finances. It’s too easy to get caught up with the distractions.
It’s okay to do stupid things because you only live once. You got to be dumb because you only have one life to live. Right? Well, sort of. I love to get wild and have fun. I also enjoy this whole making money and getting ahead thing.
I’ve heard friends justify many of the following activities:
- Spending tons of money on alcohol.
- Using credit cards for all sorts of crap.
- Buying the newest gadget.
- Not going to work because work isn’t fun.
While I’ve made my fair share of dumb mistakes, I’m tired of solely hearing the logic that you only live once being applied to mistakes. This logic can be applied to getting ahead and being smart with your resources.
I wrote about early retirement extreme last year because the topic intrigues me. It goes against suggesting that you only live once prior to doing something stupid. Early retirement shows you that working hard today can really pay off tomorrow. Busting it in your 20s can lead to you enjoying life in your 30s/40s. You can retire before your friends. You can earn your freedom at a young age.
What did I pick up as the core tenet the last time I wrote about early retirement extreme?
“Becoming financially independent and using that freedom to pursue other interests.”
Where am I going with all of this? We need to try to apply this mantra/catch-phrase that you only live once to other areas of life, such as the following:
Switching a job you hate.
We don’t live in some utopian society and we all won’t always enjoy our work. That’s understandable. What’s unacceptable is working a job you hate to buy stuff that you don’t need — or sticking around in a job because you’re too lazy to take action. Since you only live once, why stay at a job that you can’t handle? Why torture yourself for 1/3 of your life?
Traveling to an interesting destination.
Have you been thinking about traveling the world? What’s stopping you? Life is very short. So short that I would easily have to live at least five times to see what this world truly has to offer. Traveling is an excellent motivator for saving money, working harder, and getting more serious. It gives you something to look forward to and chase after. Where’s your next trip?
Working long hours to increase income.
Just because you live once it doesn’t mean that you have to spend every penny. Living once means that you should try to have a decent retirement. If you work longer hours to upgrade your skills and make more money, you can save tons of cash and be set for the future.
You want something to show for your hard work. Too often do we read about celebrities that have spent millions and are now forced to work in their golden years (the wrestler Ric Flair is a perfect example). Since you only live once, why not work hard now and use a little creativity so that you can retire early and be free at a youthful age?
Life isn’t about absolutes and falling under only one side of the spectrum. I just want you guys to think a bit before you dismiss something or try to justify a poor behavior.
Have you though about giving early retirement extreme a chance?
How am I planning for early retirement?
I’m doing my best to avoid the whole job force. Rather than leaving early, my plan is to never enter! I’m 25 now and this has been possibly because I worked full-time, applied for every form of financial assistance (free money baby), and used some creativity to graduate from college debt-free. In the process, I also took some risks with the stock market, real estate, and my own blogs. As a result of all of this I didn’t have to take the first job that came my way after college nor did I have to stress about money.
Now post-college, I’m working my butt off to sustain my online income so that I never have to look for a “real job.” I’ve dabbled into blogging, freelancing, self-publishing, launching products, and consulting. I’m always trying to increase my income and decrease my spending. My lifestyle design isn’t complete yet but I’m working on it. In 2012, I was able to go on five trips and going forward I plan on traveling more.
This was a guest post from Martin of Studenomics, where he explores all topics from student credit cards to surviving a night out on the town.