Join Early Retirement Today
Thread Tools Search this Thread Display Modes
Old 08-20-2010, 05:39 AM   #21
Recycles dryer sheets
Join Date: Aug 2010
Posts: 68
Thanks for the encouragement, Sarah. I'll look into the writer you mentioned. The name is familiar, but I don't think I've actually read any of his work yet.

As for updates, yep, I'll probably be sticking around for a while. I've just started to get a solid enough grip on the present to start looking at the future, so it will take me a little while to get where I want to go, but most good things are worth working a while for. I've been combing the forum archives, trying to get a handle on things around here and maybe avoid asking too many questions that have already been amply addressed. I'm sure you'll still see a few confused posts from me, though.

Planning for retirement is like the argument people have about going back to school...
"But if I start working on this now, I'll be X years older by the time I'm done!"
"Ok, and how much older will you be by that time if you *don't* do it?"

Joshua is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 08-20-2010, 06:29 AM   #22
Walt34's Avatar
Join Date: Dec 2007
Location: Eastern WV Panhandle
Posts: 22,863
I think you're doing fine. As others mentioned very few people have their act together at age 27 - I didn't either. At that age I was still single, and owned an airplane and a motorcycle, not giving a thought to where I wanted to be in five years, let alone 20.

Read the books mentioned and you can turn things around. You have responsibilities to your family and you're meeting them.

At 28 I was newly married and divorced five years later. So at 34 I had a net worth of about $8k, most of that in cash, and was living with my mother, not where any guy wants to be at that age, saving for a house which I bought 18 months later. At 36 I had an income of $38k/year and was six figures in debt between the house and a pickup truck. I met and married a wonderful girl who had the wisdom and maturity to say "The only trouble with loans is that they always want you to pay it back. Plus interest."

Well, duh.

Fourteen years later DW and I achieved Zero Debt, in part because we haven't paid a dime in credit card interest charges, taking to heart Suzie Orman's mantra of "If you can't pay cash you can't afford it!"

At the other extreme we know a couple who has had a great time the last 25 years, with every "I wanna..." funded by credit. They were $700k in debt, just sold a house via a short sale, meaning the bank accepted less than the amount due on the loan figuring half a loaf was better than none. So their next 20 years looks pretty bleak to me since the era of easy credit is gone for the foreseeable future and their credit is destroyed. They have no savings of course, but one has a pension so they probably won't starve.

That is not a place anyone wants to be.
When I was a kid I wanted to be older. This is not what I expected.
Walt34 is offline   Reply With Quote
Old 08-20-2010, 06:45 AM   #23
Thinks s/he gets paid by the post
Join Date: Apr 2005
Location: Duesseldorf, Germany
Posts: 1,150
Look for the contributions by Nords. He was in the military and ER'ed successfully and his contributions are great to read.

Then, tackle your habit of spending money in ways that do not support your goals in life.
This does not mean that you should not buy things for your family. But you could be more creative to find alternatives to buying as your sign of love.
Long term, no kid misses the toy that Daddy did not buy. But they all miss the game that Dad did not play with them, the book that Dad did not read to them.
If you feel the urge to buy as sign of love, put the item on a list for at least a week, go home instead and try to express your love in a special way that does not involve consumption.

It is highly recommended to start keeping track of expenses in writing and as detailed as possible. Create budget categories and monitor at least monthly. Only if you know exactly where your money goes you can find opportunities to save, attack useless expenses and see your progress. There are lots of contributions here on tracking expenses.

As you wrote, your family has some obstacles with only one income. But look out for examples of other one income families like on's forums, or on The Dollar Stretcher: Frugal Living since 1996. Get a copy of the "Complete Tightwad Gazette" and of "Your Money, Your Life" from the library or buy used. Lots of ideas and examples, even though the prices in the examples are outdated by inflation.

Share your dreams and goals with DW. You need to work as a team and her support will help you in your daily work and she might come up with some ideas as well.

All the best to you and to your family. Please keep us updated.
chris2008 is offline   Reply With Quote
Old 08-20-2010, 02:49 PM   #24
Recycles dryer sheets
Join Date: Aug 2010
Posts: 68
Originally Posted by chris2008 View Post
If you feel the urge to buy as sign of love, put the item on a list for at least a week, go home instead and try to express your love in a special way that does not involve consumption.
That's good advice. I probably fell into the habit because it's more or less what I learned from my own dad, and patterns like that have a tendancy to reassert themselves when you're not paying attention.

Share your dreams and goals with DW. You need to work as a team and her support will help you in your daily work and she might come up with some ideas as well.
Yep. We always try our best to work as a team with everything. No couple is 100% in harmony all the time, but I think the trying is almost more important in some ways than the succeeding. We've made it five happy years so far.

You know what they say - the hardest working person in the military is a spouse!

Joshua is offline   Reply With Quote

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

Similar Threads
Thread Thread Starter Forum Replies Last Post
28yr old retiring Dreamweaver Hi, I am... 14 11-28-2008 11:01 PM
I want to see the future Rich_by_the_Bay FIRE and Money 14 06-15-2007 04:41 PM
Family FinanceDude Other topics 18 03-23-2007 05:37 PM
charitable family foundations--family first! astromeria Other topics 4 09-25-2006 09:49 PM
Are you the first to ER in your family? yAyA Young Dreamers 22 11-13-2005 08:19 AM

» Quick Links

All times are GMT -6. The time now is 05:13 PM.
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2021, vBulletin Solutions, Inc.