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Icelander
The Minstrel in the Gallery



Registered: 03/15/05
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Your money or your life
#7832075 - 01/04/08 02:03 PM (16 years, 27 days ago) |
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I retired at 53. I worked most of my life at minimum wage or not much higher and part time at that. Mostly never full time work. Yet here I am owning my home outright and with enough savings to relax and not go to work each day. I place great value on my freedom from the 9 to 5.
Most of the money that we take home after taxes is wasted IMO. Wasted on things that don't really give value for the expenditure. I retired not by investing (although I do some conservative investing) but instead by not spending/wasting money just so I won't be bored or feel empty.
Anyone else manage this?
-------------------- "Don't believe everything you think". -Anom. " All that lives was born to die"-Anom. With much wisdom comes much sorrow, The more knowledge, the more grief. Ecclesiastes circa 350 BC
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lIllIIIllIlIIlIlIIllIllIIl
Stranger

Registered: 12/16/04
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Re: Your money or your life [Re: Icelander]
#7832079 - 01/04/08 02:05 PM (16 years, 27 days ago) |
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no, you're speshul
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geokills
∙∙∙∙☼ º¿° ☼∙∙∙∙


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Re: Your money or your life [Re: Icelander]
#7832214 - 01/04/08 02:45 PM (16 years, 27 days ago) |
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Good philosophy. Often times I find myself faced with the compulsion to spend money on distractions. This desire is often exaggerated when I'm feeling down, as the distraction can have the short-term effect of taking my mind off of heavier matters, if only temporarily. Nevertheless, it is still only a distraction, one that costs money and more often than not, doesn't provide any lasting value. Getting one's spending under control is the first step to keeping yourself from being poor. I believe I've done fairly well at this, choosing to distract myself through free personal intrigues such as music and exercise (hiking), rather than a trip to the local bar or the purchase of some new toy play thing.
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-------------------- ┼ ··∙ long live the shroomery ∙·· ┼ ...╬π╥ ╥π╬...
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Icelander
The Minstrel in the Gallery



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Re: Your money or your life [Re: geokills]
#7832363 - 01/04/08 03:34 PM (16 years, 27 days ago) |
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Zactly, I never really felt deprived on this path. In fact I became savvy and creative. I always purchased the things I wanted and bought the best I could afford and did my best to wear it out instead of buying next years model that was rarely much better. Not only was I not deprived but I didn't really have to pay much attention to money matters. One day I woke up and found I had accumulated enough to buy a house almost outright. I really hadn't thought about it as strange as that sounds. Once I wasn't paying a mortgage or rent then I was on easy street.
-------------------- "Don't believe everything you think". -Anom. " All that lives was born to die"-Anom. With much wisdom comes much sorrow, The more knowledge, the more grief. Ecclesiastes circa 350 BC
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xFrockx



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Re: Your money or your life [Re: Icelander]
#7832974 - 01/04/08 06:25 PM (16 years, 27 days ago) |
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That is amazing that you managed to save so well that you retired at 53 after only working minimum wage. I really didn't think that would be possible for most people who made more money. I think you've really encouraged me to be more frugal, thank you.
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Liz
Owl Lady




Registered: 11/16/04
Posts: 6,962
Loc: Massachusetts
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Re: Your money or your life [Re: Icelander]
#7833020 - 01/04/08 06:34 PM (16 years, 27 days ago) |
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I admire your will power! One of my informal New Years resolutions is to spend less money on material things and stuff I simply don't need. I can't even tell you how many pairs of pants, shirts, shoes, I have in my closet with tags on them - I need to stop shopping! I hope that I can curb my spending and be better about saving this year, and in years to come. Any tips would be appreciated!
-------------------- Remember, remember the fifth of November The gunpowder treason and plot. I see no reason why gunpowder treason Should ever be forgot.
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Liquidkick
H2O
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Re: Your money or your life [Re: Icelander]
#7833043 - 01/04/08 06:43 PM (16 years, 27 days ago) |
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For Reals, i need to cut down on my frivolous spending and using the discretionary income to buy some more options.
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mndfreeze 
Shroomery Secret Service




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Re: Your money or your life [Re: Icelander]
#7833784 - 01/04/08 10:00 PM (16 years, 27 days ago) |
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Define 'not investing'. You kept all your extra money that you didnt waste in a box under the bed or something? Just saved it into a non-interest bearing bank account?
-------------------- Nothing says love like grannies prolapsed anus! quote]Urb said: I know... Its fucked up... Ill fix it minyana..[/quote]
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Liz
Owl Lady




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Re: Your money or your life [Re: mndfreeze]
#7834025 - 01/04/08 11:12 PM (16 years, 27 days ago) |
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I would guess he means not investing in stocks.
-------------------- Remember, remember the fifth of November The gunpowder treason and plot. I see no reason why gunpowder treason Should ever be forgot.
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GnosticWarrior
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Re: Your money or your life [Re: Icelander]
#7834440 - 01/05/08 03:14 AM (16 years, 27 days ago) |
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Icelander, You're a good role model and global citizen. A great example of someone who just consumes what they need. Marketers try to make people feel deficient and that material objects and lifestyle fanatasies will fill that void for them. Creates excess consumption and profits for some and indebtedness for others. Regardless, humanity and the earth does not benefit.
Surprisingly Warren Buffett is also a good example. He got wealthy by being frugal and compared to his overall networth, is still frugal. Wealth is just not measured in dollars, it could also be the freedom to spend your time the way you want, living your passion.
Here's a good article for those wanting to be like Icelander and Warren Buffett: http://www.thestreet.com/funds/saving-money/10388435.html
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Ego Death
Justadropofwaterinanendlesssea


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Re: Your money or your life [Re: Icelander]
#7834694 - 01/05/08 07:58 AM (16 years, 27 days ago) |
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I hope to get to that point too.
I never realised you were that old Icelander - no wonder your so wise.

Do you still shroom and stuff?
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Icelander
The Minstrel in the Gallery



Registered: 03/15/05
Posts: 95,368
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Re: Your money or your life [Re: xFrockx]
#7835616 - 01/05/08 01:27 PM (16 years, 26 days ago) |
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Quote:
xFrockx said: That is amazing that you managed to save so well that you retired at 53 after only working minimum wage. I really didn't think that would be possible for most people who made more money. I think you've really encouraged me to be more frugal, thank you.
Check out the book "YOUR MONEY OR YOUR LIFE" (cheap on e-bay or amazon or even better get it at the library)
-------------------- "Don't believe everything you think". -Anom. " All that lives was born to die"-Anom. With much wisdom comes much sorrow, The more knowledge, the more grief. Ecclesiastes circa 350 BC
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Icelander
The Minstrel in the Gallery



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Re: Your money or your life [Re: mndfreeze]
#7835634 - 01/05/08 01:31 PM (16 years, 26 days ago) |
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Quote:
mndfreeze said: Define 'not investing'. You kept all your extra money that you didnt waste in a box under the bed or something? Just saved it into a non-interest bearing bank account?
As I said I did some conservative investing (401K IRA Govt Securities) but not really to make money (although I did get modest returns and tax breaks) but as a place to store it safely, and here's the big thing, so I didn't have to spend my free time thinking about it or it's safety.
-------------------- "Don't believe everything you think". -Anom. " All that lives was born to die"-Anom. With much wisdom comes much sorrow, The more knowledge, the more grief. Ecclesiastes circa 350 BC
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Icelander
The Minstrel in the Gallery



Registered: 03/15/05
Posts: 95,368
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Quote:
GnosticWarrior said: Icelander, You're a good role model and global citizen. A great example of someone who just consumes what they need. Marketers try to make people feel deficient and that material objects and lifestyle fanatasies will fill that void for them. Creates excess consumption and profits for some and indebtedness for others. Regardless, humanity and the earth does not benefit.
Surprisingly Warren Buffett is also a good example. He got wealthy by being frugal and compared to his overall networth, is still frugal. Wealth is just not measured in dollars, it could also be the freedom to spend your time the way you want, living your passion.
Here's a good article for those wanting to be like Icelander and Warren Buffett: http://www.thestreet.com/funds/saving-money/10388435.html
Thanks. Now, over time, I have had a chance to compare my life to those who bought all the toys and spent all the money they could and went into debt to do it. I admit there were times I thought my style might be a loser style and not work. But over time I have come to see that it worked out very well for me. I didn't spend all my youth at work. I played outdoors and hitchhiked and backpacked all over the west and went here and there on a whim. I took whole years off of working completely and lived out of a pack on almost nothing.(not for everyone I'll admit) I played a lot. Still,now I'm debt free and my old spending friends are nearing retirement without owning their home and in lots of debt. Their "retirement" doesn't look too stable if they get there.
In this society there are a lot of things that can be had for free or minimal cost (sometimes just picking it up from somebodys house) If you get creative and don't believe that bull about how your lifestyle should look like the Jone's exactly then you will find lot and lots of ways to live well cheaply and well.
-------------------- "Don't believe everything you think". -Anom. " All that lives was born to die"-Anom. With much wisdom comes much sorrow, The more knowledge, the more grief. Ecclesiastes circa 350 BC
Edited by Icelander (01/05/08 01:46 PM)
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Icelander
The Minstrel in the Gallery



Registered: 03/15/05
Posts: 95,368
Loc: underbelly
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Re: Your money or your life [Re: Ego Death]
#7835679 - 01/05/08 01:43 PM (16 years, 26 days ago) |
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Quote:
Ego Death said: I hope to get to that point too.
I never realised you were that old Icelander - no wonder your so wise.

Do you still shroom and stuff?
Yes I am a wise guy. I admit it.
Do you still shroom and stuff?
Ideed.
Edited by Icelander (01/05/08 03:36 PM)
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budmanman
OTD Masterbater



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Re: Your money or your life [Re: Icelander]
#7835756 - 01/05/08 02:05 PM (16 years, 26 days ago) |
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Now we all could take ice landers idea to heart. Or for us who smoke excessive marijuana and us who might get lung cancer at 35, this may or may not be a good idea.
-------------------- Everything I have ever said is total bogus bs I am full of crud therefore everything I say should never be taken literal. And I am mentally unstable.
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ravin0fff
Stranger

Registered: 10/17/07
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Re: Your money or your life [Re: Liz]
#7840231 - 01/06/08 04:03 PM (16 years, 25 days ago) |
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Quote:
Liz said: Any tips would be appreciated!
don't eat out, only buy unprepared food(try to avoid frozen, canned, boxed etc)
shop at thrift stores(it's just clothing.... do you really want to attract someone that likes you because you wear expensive clothes?)
break costly addictions(pot, smokes, coffee, alcohol being the most common)
those are the easiest, riding a bike/walking/public transportation will probably be a bit harder for some people(i've done this all my life with no problems but some people seem to be attached at the hip to their cars)
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badchad
Mad Scientist

Registered: 03/02/05
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Re: Your money or your life [Re: Icelander]
#7842497 - 01/07/08 07:11 AM (16 years, 25 days ago) |
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Nope.
I also value my free time. I find that having more money allows me to do more with that free time. Unfortunately, the experience of living life often comes at a price.
-------------------- ...the whole experience is (and is as) a profound piece of knowledge. It is an indellible experience; it is forever known. I have known myself in a way I doubt I would have ever occurred except as it did. Smith, P. Bull. Menninger Clinic (1959) 23:20-27; p. 27. ...most subjects find the experience valuable, some find it frightening, and many say that is it uniquely lovely. Osmond, H. Annals, NY Acad Science (1957) 66:418-434; p.436
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Icelander
The Minstrel in the Gallery



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Re: Your money or your life [Re: badchad]
#7843166 - 01/07/08 11:23 AM (16 years, 24 days ago) |
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Unfortunately, the experience of living life often comes at a price.
Death, and you can't buy your way out of it.
-------------------- "Don't believe everything you think". -Anom. " All that lives was born to die"-Anom. With much wisdom comes much sorrow, The more knowledge, the more grief. Ecclesiastes circa 350 BC
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Icelander
The Minstrel in the Gallery



Registered: 03/15/05
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Re: Your money or your life [Re: ravin0fff]
#7843171 - 01/07/08 11:24 AM (16 years, 24 days ago) |
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Garage sales can be gold mines. You can even resell your deals on Amazon or E-bay and work for yourself. I furnished most of my home with fairly nice furniture for not much over $500 by going to garage sales.
Edited by Icelander (01/07/08 11:26 AM)
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