Normal is NOT NORMAL | Consumerism
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- čas přidán 22. 05. 2024
- If you want to escape the rat race you need to stop acting like everyone else.
In today's video I am continuing my discussion about early retirement and what it takes in order to save money, no matter your situation. Let me know what you think in the comments - I'd love to hear from you!
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what a strange place for a lightswitch
You've never seen a light switch on a wall before?
@@AlexT0210 Definitely not in a middle of a wall. Near the light source or somewhat closer to a doorway - yeah, sure, but... in a middle of a wall..? Oo Genuinely wondering what's the reason behind that.
I always laugh at this too but I live in australia and you wouldn't believe the outrageous places light switches and power outlets are placed. It's enraging. 😂
@@mothbythesea Australia is way too far from my place, so I can only imagine those horrors %)
Idk how it is in other places but in the UK we have light switches in weird spaces because a lot of our houses are very old and its extremely costly to move light switches- wiring is literally plastered into walls so often its a LOT of work. So it means we have to move rooms around regardless of power points or light switches. Spencer's lightswitch here is an example of that IMO
Frugal activities are also often more rewarding. Reading, programming, learning a new skill are mostly free.
Exactly! Programming is something I’d like to learn eventually - very interesting
I really like the fact you've taken the time to respond to questions. I think local economy plays a massive part in saving ability. I'm in England and inflation has jumped to 11% in the last few years and has only dropped like by 2% recently. Food prices are increasing due to this and also supermarkets hiking their prices. Fuel is ever expensive. It has a massive knock on effect on day to day life. Our wages, on average have also been stagnant for 10 years. A lot of people here are living frugally out of nessecity (and also starving) and still struggling. We have a government that has been destroying public services through austerity politics for 14 goddamn years. Throw in a national housing shortage and rent prices being out of control, with a lot of scummy landlords, development firms sweeping in and buying up properties, and its getting extremely difficult to have any savings. I'm extremely lucky to be living with my wife (renting though, and its extortionate) and saving about 30% of my monthly wage but its not a common thing. Even a top UK financial guru said that he's run out of things to advise people to keep their expenses down.
Fully agree about the rest, society is rife with mindless consumerism and the need to have the latest and greatest thing/live by arbitrary standards.
You’re right buddy - a lot of this cost of living stuff is out of our immediate control and we just have to do the best we can to hold on. Sounds like things have been very tough in the UK. Canada hasn’t done much better, but we need to find ways to put something away for tomorrow, and that means going without certain luxuries. That won’t solve everything, but it will give us a chance to have something for the future. Appreciate the thoughtful comment!
@@spencers-adventures Oh for sure, I think its brutal everywhere currently! But absolutely, being able to save, when you're in a position to be able to do so- and the mindset of doing it versus spending every spare penny is very important. It took me wayy too long to not be impulsive with my spending and I'm kind of kicking myself about it in hindsight but what can you do haha
Btw, I really like your channel, it was your iPod video that convinced me to move off Spotify and get back to offline music! Thanks for taking the time to reply!
100% agree with what you said about kids. Single dad with 2 kids - I still save plenty of money. It is as you said - provide them the basics - food, clothing, school supplies, love. None of those things HAVE to be expensive, but a lot of people make them expensive.
I have tons of generous coworkers and they are constantly giving me clothes that their kids outgrew, so I don't have to spend much there.
Once received a notification about this new video, I didn’t even read full text because it was already clear that it’s not a short story format of content, so I can get home and watch it later with calm and proper attention. Thanks for making clear expectations.
Thanks for the feedback, I appreciate that!
Hey Spencer! I love these videos especially when it comes to these topics. Would you ever consider making a podcast?
Appreciate that buddy - I’m in the process of starting a podcast actually! I’ve been slowly seeking out the gear I need on the used market and I’m just about to ready to start. So keep your eyes peeled and thanks for the comment! I’m glad there’s an appetite for it
At age 68, I have now been retired for 10 years. I think nothing is too extreme. However, I do think some of your views on the cost of children, are obviously from someone who doesn't have any. I divorced when my 2 boys were little. Single Mom for many years. Usually worked 2 jobs just to survive. At the start, daycare was a major expense. I always provided reasonable housing for us. It is only true that children eat less when they are little. Trust me, my teenage boys could never be filled up! I always cook from scratch, bought thrift store clothes and luckily had 2 boys, so my youngest got all the hand me downs. Organized hockey was way too expensive as they were growing up, so that was out of the picture. I volunteered with Scouts Canada as a leader, so they went to cubs and scouts with very little cost. They played team sports at school and just pick-up games of hockey at the local rink. Both have completed university and have good jobs, and have paid off their student loans. It can be done. Just not at easily as you make it sound. I retired and am relatively low income, but am doing fine and enjoying life.
All the classmates I had growing up that were in after school activities were in them because parents were usually still at work and couldn't leave 1-2 hours early to go pick up their kids. In elementary my grandma's house was close by so we would walk there (it was like less than 3 blocks away) in junior high I would go to my friends house after school, in high school no choice but to wait there for 90 minutes to 2 hours for my ride, maybe a friend could drop me off or I would walk home. Luckily a lot of my friends were in the same situation so we were like a reverse breakfast club all waiting for our rides.
I FIRED at age 31. It was not a cake walk to get to that point. But I had my DD and I was not going to be working 60 hours a week while she was in daycare. The first few years was TOUGH. Now...pretty darn easy. I have the time to allow my 13 year old to go to a High School across town that only 40 kids got into. I was able to fight the school district to get her a grade skip. For me FIRE was my only option. I want a simple life with the luxury of time
how did you manage to achieve this?
@@bucky7505 I grew up poor, I knew if I learned the power of money I could get out of that hole. I started to save at 18. I worked 5 jobs in college. And spent my 20's living as simple as possible while investing everything I could. And I was obsessed. I understood the power of compounding. It was vital to start early for me. The first 100K was HARD.
That’s amazing! I wish that I had the drive and foresight to save like that when I was in my teens and 20s. I didn’t come around to these ideas (or believe they were possible) until a few years ago. I feel the same way about kids - I’d love to FIRE by the time I have a kid so I can be there as a parent as much as I want to. Great work and thanks for sharing your story!
Jakob Lund Fisker's book is also one of my favorites. His website has got old, but quite cerebral articles about the philosophy and practice of early retirement. Well worth reading!
Honestly, thanks for the links and resources. More of that, please.
Will do buddy!
I would love to retire early as well. In my case, I live with my partner and we only work a part-time job, so we're back home early and have enough time to spend together. Of course, this is only possible because we have a decent paid job, we live together and we try not to waste money on things that are not necessary. As you said, no need to have the newest phone or to get delivery food every week.
Unfortunately, in my country, I think it's getting harder and harder to save money. Most people earn around $300 dollars a month, and the inflation rate last year was over 200%. So, even without a new phone, streaming services, let alone a car or university...people don't have the chance to save money even if they work 12 hours a day. I hope this situation changes in the future.
I moved out to the countryside to save on rent and live with fewer distractions. Every day I work on building my side business. I want one day to be able to live off it. If I can live off my own business, to me it's the same as being free.
I think one of the big struggles is pushback from friends and family who are fairly entrenched in their ways. Despite all that I know that this path will be more rewarding in the end.
Yeah you just have to keep doing your thing. Eventually they’ll get used to it, and maybe even come around and change their ways a bit. That’s been my experience!
I like how ERE has evolved not to “retirement” in the traditional sense but rather a means to live the life you want - rather than what society forces you into. Jacob says it himself - if you enjoy your job, there’s no need to retire from it. But reducing your dependency on that job, achieving financial independence or the “F you” money is really what we should drive towards. Frugality is something that needs constant work to build those long term habits. And even then it’s easy to succumb to the temptations of society which are really extreme luxuries. “What’s $15/month for a streaming service - we use it all the time?” Or “I can afford this chick fil a meal with my kids” and it can add up quickly. I drive a 10 year old car that gets 42-45 mpg, and I still find myself feeling as though I’m driving a luxury car and wanting to go older/cheaper to accelerate my savings and costs per month. It can be hard at times, but like anything once you get over the irrational fear of starting, it’s not hard to maintain or continue.
Exactly! Frugality and financial independence aren’t goals in themselves, they’re habits we need to stick to and the result of focused attention. It’s taking steps to eliminate those drips in your expenses like the streaming services you mentioned and not upgrading to the newest car every payment schedule. I also feel the same way as you - my car is a 2008 and I feel like ditching it altogether at some points to save even more money. I definitely don’t feel any desire to “upgrade” in that respect, and that’s led to saving a lot of money compared to if I had those payments. Thanks for the comment!
Super cool video Spencer! A video about clothing would be amazing btw!
I’ll put it on the list!
Yes, I do want early retirememnt.
I'm not sure about roomates unless you are in college and have no choice. All I hear is horror stories and no one seems to win. I also haven't heard of anyone achieving fire with roomates, but maybe I am missing something.
Roommates used to be a college thing. Now I know people in their 30s, 40s and 50s living in share houses. It's not only because no one can afford $5-10k a month rent for a house by themselves, but there are no single room homes that aren't highway robbery (shoebox studio apartments for $5k/month) I live in Australia. It's fked up. As a single person needing a stand alone house with a yard, that's pet friendly and has room for a workshop, im looking at 2k/week in a city. If I move out of the city it's 3k/month but for a house with 4 bedrooms I don't need. I decided to flip the table completely and bought a bus to live in around Australia and figure out a different life.
Lol, now I realize how lucky I am.I live in Russia and, as a teacher in a rural area, I am given a three-room apartment for free and also pay 60% of the cost of utilities.Yes, I live alone in a three-room apartment - this is a lot, in fact I sleep on the floor, this same room is a gym for me I spend most of my time at work or outside That's why I stupidly have two empty rooms I even had the idea of organizing a pick-up point for orders from an online store. But while I was thinking for a year, I was already
Housing is indeed a luxury and I've gone without starting this month. Expect the rest of Canada to follow suit in coming years.
Remember kids, always recycle... TO THE EXTREME!!
Back to your home planet you
I'd be interested in a clothing video!
iPhone 11 over here, I think it's 4-5 years old, will rock it until it breaks or battery wears out. Car is 8 years old.
I’m with you on the iPhone 11!
your take on the universal income and housing is quite bad tbh. In Berlin (Germany) we had a cap on the pricing. The only thing that happend was that no more houses were built and in the end the house prices went through the roof
Interesting to hear your experience on this stuff where you live. My take on UBI and housing is limited at best, and I wouldn’t even call it a take because it isn’t a fully formed opinion (I honestly haven’t thought too deeply on that particular issue). What I was saying was of course it would be nice if a system was in place to protect individual’s right to shelter, whatever that would look like. The particulars of such a system is unclear, and I am not going to pretend I know the solution. Thanks for the comment!
In Australia you still have to pay for public schools
Wow, really? Outright payment upon attendance or do you mean everyone pays via taxation?
@@spencers-adventures outright payment unfortunately. If you earn under 1300 a week before tax you can get free schooling if you over you have to pay.
Normal has never felt right to me. No one is doing what "everyone else" is doing, although they may be trying to.
You really do have to think outside the box.
My parents came of age in the '50s and '60s, when they could live in a series of rented houses after they were married, and, after the third child was born, were able to build their first home, a split-level in a new development with an attached garage, three bedrooms, and a half-submerged basement/playroom/family room that had full day light for $24,000.
Every year we took a vacation for two weeks to visit out grandparents in Florida.
I remember asking our parents if we were rich. They just laughed.
We went to Florida every year, had two full sets of encyclopedias, two cars, and the Christmas tree was always crowded with many, many elaborate presents each year. That last point was very important to my father who remembered only getting socks one year.
College didn't quite work out for me. I went as long as I could afford it. When I first went I could pay for a year's tuition with the money I earned working at the Ohio State Fair over the summer.
I quit going to college, after more than half-a dozen years, but with no degree, when I would have had to take out a loan to continue. I didn't have that much faith in the value of a degree.
It turns out that lack of a degree held me back more than I expected.
I lived completely without a car for about three years, while working well across town.
In the early '90s I drove across country to get with a woman in California who I met in the user forums of one of those commercial online services we had before the internet was opened up to everyone. I was driving an old Subaru station wagon that I had bought from a co-worker for $200 because the insurance company had totaled it after it had been in a wreck that had pinned the driver's side door closed. I had to climb over the stick shift to get into it, but it was good enough to take me across the continent.
We ran a home-based desktop publishing/graphic design company for a number of years, making enough to upgrade our equipment and assets a couple of times, while that was still a viable market.
We got married and moved a couple of times, into houses we need to renovate, doing most if the work ourselves.
Work was still mostly entry level when I could find it.
Our big windfalls would come when we sold one house to buy and renovate another.
The last time we bought a really small house that we found on the internet for $20,000.
We used the extra money from selling our house in California for my wife to fulfill her dream of buying champion line German Shepherd dogs. She had a lot of previous experience breeding and training dogs.
We ended up giving dogs to service members a police and fire officers, but no making much money from the dogs. But we had an awful lot of fun with some excellent dogs. As my wife's health was failing she had a wonderful service dog that she had raised herself that watched after her and assisted her in innumerable ways.
After my wife died, my sisters asked if I could move back to Ohio to take care of our mom who had recently had a stroke and didn't recognize anyone. I was still working in the logistics job that had paid for my wife's health insurance. They said mom's living trust would pay for my food and I would live in Mom's house. I told them I would need wi-fi for my computer and enough income to pay my car insurance and my phone bill.
It worked out well, until Mom died a few years later.
Now I'm living in the house that is now owned equally by us four kids, basically as a caretaker.
I got a job in a local call center, and then on the night shift at the local McDonald's, while I waited for my Social Security Retirement to kick in.
Social Security now pays a hefty fraction of what I've been used to living on all my life.
A couple of years ago I got a nice surprise.
The logistics company I used to work for wanted to know how I wanted my $22,000 401K to be disbursed.
I had completely forgotten that I had that. My wife always managed all the money and argued that we couldn't afford to put anything away for retirement. After she died, I figured I would have lower expenses, so I funded the 401K to the maximum the company would match, plus Ann additional $10. Every week, for a couple of years.
I have already dipped into it for unexpected expenses and to pay off all my debts (except for the 2016 car I had to buy when my last one gave out - I live rural, right across the road from my sisters' houses -- a car is a necessity - my car payment is still half of what you suggested).
Everyone's situation is different, but there are very many more options than you know.
I love Below the Median, it's a great channel. There are also a lot of other channels on here that discuss living in a van or in your car as a viable alternative to the cost of real estate.
Roaches and mice can be dealt with, and there's alway something better, in one way or another, if you're open to trying something different.
Love this comment - thank you for sharing your story with us here! Sounds like you really have been creative over your life and taken the interesting opportunities that came your way. I especially like the car with the crushed door! I’ve considered taking the creative approach to small living like van life over the years. When the roaches were coming out I definitely had a Cheap RV Living video on trying to motivate me to turn the key and drive away.
What do you mean 'school is usually free'?
In Canada public education (elementary school and high school is free). In some countries that may not be the case
I'm starting to wonder if all these early retirement fans just basically hate their jobs. Do they even know what they will fill their time with? Do they have hobbies and goals to fill all those free hours up? Do they have a plan for their day to day life, after all the structure of having a job is gone?
Yes, most people who want to retire early simply want to retire from mandatory work that they may not enjoy. Many go onto work on projects that they find joy in doing, even though it may not result in much payment for their time spent. I think it’s people who couldn’t imagine quitting their jobs who would need to ask themselves this question, because they’ve often become so disconnected from what they actually enjoy doing that they usually can’t fill their time without a boss telling them how to do it. That’s why so many older people become depressed once they retire, because they have no hobbies or interest outside of their mandatory employment. They’ve lost motivation and curiosity. People interested in FIRE usually have goals they’re working towards that they want to spend more time on
yes. For me personally, working is nowhere near what it used to be. I could get hired very easily 5 years ago, and actually felt accomplished in what I did, as well as respected. Now im noticing a very uncomfortable rise in having to create endless accounts on employer websites, endless quizzes, polls, and surveys on top of that. For zero pay off. Bosses, employers, supervisors, are prison wardens. Lazy, entitled, and ungrateful. Yes, we are all aware that not every job is going to be “perfect” however, it is completely fair and normal to apply for a job, work for someone and be treated like a human, and have a boss that actually works. (I very much disagree with the whole “that’s not the real world, youre going to have to expect this anywhere you go. Why? Why should *I* *expect* to be treated like garbage??) I want a job and activities I feel fantastic in. I want to volunteer, I want to clean up my local community, exercise, help others, and feel rested, and like my time means something. I also want these for my younger family members. Yes, we hate working, and yes a lot of people do know exactly how they want to spend their time. Sure, there’s the some that don’t, but isn’t that why education is important. Being bored is fine, not having structure 24/7 is FINE. The world will not end if ALL of my time isn’t taken up ALL of the time.
Not possible without Bitcoin. Even if you have the money, without Bitcoin you will never have the freedom
Elaborate? Not calling you out for being wrong, but calling myself out for not knowing why your comment may be true.
Agree but one more point , always store it on a physical wallet like ledger . Never on a platform
Lol