LBYM Extreme - with a plug for ER.org!

[NW-Bound]

I didn't watch this video as I have seen others by the same couple and didn't get too much out of them. It was my understanding she runs the blog and other media forms for income and he works remotely, so I am not really sure where the retired part comes in. It seems like with rent and two earned income streams they should have a pretty decent income, more than enough to go out to eat now and then if they wanted to.

I watched a bit of it. They have a decent house, and seem to live a comfortable life. Of course we do not know how much they have saved, and if their stash is good enough to weather bad economic spells.

The additional income from the blog surely helps. I recall a youtube couple, who started out to build an off-grid home in Idaho. Their youtube channel stirred up a lot of interest, and they have many subscribers. As I can recall, they do not divulge how much money they get from youtube, but they were able to upscale their modest dwelling, which was a travel trailer and a utility shack, to a timber-frame home with a large basement. They also could afford a front loader, a lumber mill to cut their own timber, a new pickup truck, and various tools. They have given up on the solar power and will hook up to the grid.

I don't blame them though. Hey, when you've got money, there's no need to scrounge. When one's means expand, one can upgrade the lifestyle and still be LBYM. Nothing wrong with that, and in fact it is the right thing to do.

 

[daylatedollarshort]

For me the fun part of a LBYMs lifestyle is living high on the hog while not spending a lot. Not spending a lot and never going out doesn't seem to take a lot of thinking or analytical skills. That is what poor people have to do by default.

It is the analytical part that I find fun - traveling on reward points, getting cheap or free seat filler tickets, examining the odds and finding contests I can win regularly, great thrift shop finds and in general finding bargains and freebies that require a little searching or analysis.

 

[tmm99]

For me the fun part of a LBYMs lifestyle is living high on the hog while not spending a lot. Not spending a lot and never going out doesn't seem to take a lot of thinking or analytical skills. That is what poor people have to do by default.

It is the analytical part that I find fun - traveling on reward points, getting cheap or free seat filler tickets, examining the odds and finding contests I can win regularly, great thrift shop finds and in general finding bargains and freebies that require a little searching or analysis.

I actually thought of you after I watched their video and read a few posts here - I think they enjoy saving in the way you enjoy saving. It's like a game they play, to see how much they can save.

 

[tmm99]

I feel like I know what they are doing. They aren't the kind of people who get a kick out of expensive clothing and expensive lifestyles. They like nature, woods, etc, and they realized they could live the lifestyle they wanted without much sacrifice, and they did just that. Retirement was never their goal, and they don't mind working, and they do but not the way they used to work. I am happy for them. They seemed to have found something that worked better for them and they are happier because of it.

 

[candrew]

If I want to be depressed there are aesthetically preferable ways, like going to an Swedish movie festival.

Thanks. I almost spewed coffee on my keyboard.

 

[tmm99]

BTW, I enjoy going to thrift shops. Many of our lamps we have at home came from these shops (we restored one and swapped shades, etc). A couple of chairs, a desk, photo frames (for DH's artwork and photography), some clothes too. My last find was a $20 19-inch computer monitor.

 

[Midpack]

I feel like I know what they are doing. They aren't the kind of people who get a kick out of expensive clothing and expensive lifestyles. They like nature, woods, etc, and they realized they could live the lifestyle they wanted without much sacrifice, and they did just that. Retirement was never a goal, and they don't mind working, and they do but not the way they used to work. I am happy for them. They seemed to have found something that worked better for them and they are happier because of it.

That’s how I took them too. They had way more earnings than most, and realized ‘the meaning of enough’ long before most Americans (some never do). Looks like a healthy mindset to me, but to each his/her own.

 

[RAE]

For me the fun part of a LBYMs lifestyle is living high on the hog while not spending a lot.

It is the analytical part that I find fun - traveling on reward points, getting cheap or free seat filler tickets, examining the odds and finding contests I can win regularly, great thrift shop finds and in general finding bargains and freebies that require a little searching or analysis.

Exactly. For example, why should I pay full price for clothing when I can find perfectly good stuff at thrift stores for a fraction of the price? I found a pair of Levi's jeans (in good shape) in my size at the thrift store the other day for $4. Also found a nice Dockers shirt in my size for $3. I find clothing deals like this all the time. The money I save on deals like this is used for things like our annual winter snowbird trip, or some other priority item. I don't feel like I am making any real sacrifice at all by living the way I do - and it's kind of a challenge.

 

[HI Bill]

"If I knew then what I know now"... I would have saved/invested, and worked harder to become FI by 40, rather than 52, and I would have switched careers, doing what I truly want to do (underwater photographer/filmmaker), rather than slugging it out for 28 years as a geologist, a job which is okay, but does not stoke the fires of my heart.

 

[rayinpenn]

"If I knew then what I know now"... I would have saved/invested, and worked harder to become FI by 40, rather than 52, and I would have switched careers, doing what I truly want to do (underwater photographer/filmmaker), rather than slugging it out for 28 years as a geologist, a job which is okay, but does not stoke the fires of my heart.

Was it Barbara Bush said Ill never fret over what was or could have been..

 

[Plantman]

How about Uncle Leo finding the watch and the wallet in the trash can on Seinfeld?

 

[FUEGO]

I was at CampFI Midatlantic this weekend as a speaker (with 70 other mostly young FIRE-seekers under age 50). During the icebreaker I mentioned I found FIRE through e-r.org way back in 2005 and asked for a show of hands for those that had heard of the forums. Only 3-4 raised their hands. Lots of new people learning about this stuff but it's mostly Mr. Money Mustache and their forums, blogs, podcasts, and facebook groups.

Or maybe it's just the younger people accessing FIRE material through those other media.

 

[redduck]

A winter coat taken from a dumpster?!

Damn, so that's what happened to my winter coat while I was in the bathroom!

 

[daylatedollarshort]

I actually thought of you after I watched their video and read a few posts here - I think they enjoy saving in the way you enjoy saving. It's like a game they play, to see how much they can save.

I like the game part but not the never going out to eat or tree clearing kind of work. I grew up in a small house in a low cost, frozen half the year, rural farming area and we didn't go out to eat much so I already know pretty well how to live like that. We had catchy name for our lifestyle, too, but it wasn't called minimalism back then. We called it "growing up poor".

 

[NW-Bound]

We did not grow up poor, but both my wife's and my parents did not have the habit of going out to eat. And so, we enjoy cooking as much as eating, and do not eat out that much unless there's some special restaurant that we like to try. At this point, we have enough money that eating out would not make much of a dent, but we do not care to.

About recreation, we both find plenty of things to amuse ourselves with, without spending money. Well, I spent quite a bit on my electronic stuff, but it is still not that expensive compared to new cars every few years.

Other than travel, we find little things to spend money on. As homebodies, we are satisfied lounging around in our two homes, and go on long treks with the RV or internationally once in a while. Even that does not cost that much.

 

[Bryan Barnfellow]

For me the fun part of a LBYMs lifestyle is living high on the hog while not spending a lot. Not spending a lot and never going out doesn't seem to take a lot of thinking or analytical skills. That is what poor people have to do by default.

It is the analytical part that I find fun - traveling on reward points, getting cheap or free seat filler tickets, examining the odds and finding contests I can win regularly, great thrift shop finds and in general finding bargains and freebies that require a little searching or analysis.

That and having friends with boats!

-BB

 

[rodi]

I think Mrs. Frugalwoods would agree they're not retired... at the end of the video the narrator states that she doesn't refer to herself as retired... but rather 'financially independent'... meaning she doesn't need to work. So she's not claiming to be retired while getting income from her blog she puts effort into.

I agree with others in this thread who opined that the couple seems to have found the balance for them between consumption and frugality - and found where they are happiest on that scale.

As for the dumpster coat - heck - how is that different than the really nice timberland coat my son bought at goodwill a few weeks ago. He got a label he's (ridiculously) impressed with - and spent 1/10th of what it would be new. I've got several items in my house that were either marked "free" at the curb, picked up from freecycle and craigslist free listings, or purchased for almost free at garage sales. I like to think it's not about being cheap - it's about repurposing/reusing items, diverting them from the landfill.

 

[calmloki]

We are in SoCal at the winter digs - fantastic location surrounded by mountain tops about 2 miles from the Coachella music festival, polo fields, and the tennis gardens. We are surrounded by mostly working folks. Our garbage and recycle cans are rarely even a quarter full each week - by contrast, our neighbors put out cans that are full to overflowing - lots of boxes and polystyrene. If anything we dispose of could have utility to someone we put it on the curb - often someone takes it, which pleases me. I've also picked up other's discards - wanted a deep shelf and grabbed a discarded headboard last week as it had enough trimmed and finished wood to build it. My favorite thing is Saturday yardsales - some friends call our house the museum house because of our eclectic furnishings and decor. When we first came here we brought some folding chairs and tables and some oriental rugs - just about everything else we sourced second hand locally and we paid pennies on the dollar for it. Silk and linen shirts on the hanger with drycleaner tags? - a buck each - rude surprise to find having them cleaned cost 5 times the purchase price.
Guess years of trying to shrink dumpster loads when the student tenants move out and discard furniture and such has desensitized me to "dumpster diving". Or maybe it was hearing that every car on the road is a used car. In any case, cleaning is easy and I'm happier to pay a quarter rather than $5 at Walmart for the same item.

 

[Koogie]

I've got several items in my house that were either marked "free" at the curb, picked up from freecycle and craigslist free listings, or purchased for almost free at garage sales. I like to think it's not about being cheap - it's about repurposing/reusing items, diverting them from the landfill.

You might like this show on Netflix..

Money for Nothing
""Aided by designers and craftspeople, entrepreneur Sarah Moore rescues items bound for the garbage dump and turns them into valuable, unique objects.""

FWIW, we do the same. We spent a pantload of money on redoing our main bathroom but the sink is a pedestal sink I got at Habitat for Humanity (I spend so much money there I should get a thank you card from Jimmy Carter)

 

[tmm99]

I like the game part but not the never going out to eat or tree clearing kind of work. I grew up in a small house in a low cost, frozen half the year, rural farming area and we didn't go out to eat much so I already know pretty well how to live like that. We had catchy name for our lifestyle, too, but it wasn't called minimalism back then. We called it "growing up poor".

Yeah, I hear you. I don't want to be frugal to the point I end up feeling poor. I am frugal as long as it's fun to be frugal.

 

[tmm99]

You might like this show on Netflix..

Money for Nothing
""Aided by designers and craftspeople, entrepreneur Sarah Moore rescues items bound for the garbage dump and turns them into valuable, unique objects.""

FWIW, we do the same. We spent a pantload of money on redoing our main bathroom but the sink is a pedestal sink I got at Habitat for Humanity (I spend so much money there I should get a thank you card from Jimmy Carter)

I went to one Habitat for Humanity store, and I couldn't believe the amount of high-quality stuff they carried! (Well, not all of them are like that, but the one I went to in a relatively well-off area of the city had great stuff.)

 

[Choices]

I love to go to antique stores....what’s the difference between their offerings and the stuff I can sometimes get for free? In 2005 I furnished my daughters 3 Br house for $350. using stuff we found alongside the road, thrift shop goods and things from friends. She only had her bed and two dressers.
As I said frugal habits die hard.

 

[street]

Interesting but i too wouldn't of enjoyed life retiring at 30 yo.

 

[daylatedollarshort]

That and having friends with boats!

-BB

Friend with boats who belong to yacht clubs with fun parties!

 

[Bestwifeever]

The Frugalwoods could probably have a boat, especially with saving all that money from never eating dinner at a restaurant: “online tax filings for ActBlue, the nonprofit that employs Nate, indicate he made $246,485 in 2016” (with the company he still works for, after moving to their Vermont house on 60 acres in May 2016) https://m.sevendaysvt.com/vermont/what-i-learned-from-meet-the-frugalwoods/Content?oid=14358690. Never mind the blog income. I can see why she’s backed off from calling themselves retired. Good for them, though.