Okay, I know that in this “financial space” it might not be gauche to talk about why saving money isn’t worth it, but hear me out. I made a mistake a week ago and thought I’d save myself some money. To save myself ~$8 I cost myself almost 3 extra hours of time. Yeah, that doesn’t sound frugal, that is starting to sound cheap, and not to mention I cost myself a lot of extra work too. What mistake could cost me that much time for so little money? Brewing beer. Yep, homebrewing can be a great way to save money per beer, but when you add in the time cost, for me at this point in my life, I’d rather have time over cheap beer. So here’s what started the “saving money” idea and what led to me understanding how much that “saving money” actually cost me. I basically cost myself 3 hrs of working time to save myself $8, wtf was I thinking?! How did that even make sense?! This is what made it make sense in my head and how I forgot why I quit all-grain brewing to begin with.
The destination to FIRE can seem like it’s all about getting to that endpoint, but that’s not really what it’s about right? Isn’t it more about the journey and the freedom you’re giving yourself by getting to that stage of your life? There are loads of posts about “enjoy the journey” and “we shouldn’t be focused on the end goal, we should be present”. Hell, I think my 2017 goals were to be more relaxed and present and quit worrying about the end goal. I think the best description of trying to get to FIRE, is from Maggie at Northern Expenditure when she describes it as a “sprint followed by a rest on a moving sidewalk”. I second that feeling!
So then what am I talking about with the destination being important? Well, imagine you’ve been working towards your version of FIRE and a few weeks before you hit your number you find out that, nope, that number has been moved, the dates have changed, sorry, Wally World’s Closed… That’s how I felt this past weekend when I found out my 1st Olympic triathlon that was scheduled for March 5th was bumped back to Oct. 8th. Yeah, friggin’ October! So how does this relate to personal finance, early retirement, financial independence and your own planning? Bascially, there’s only so much you can control, so how do you plan for it? I don’t know, and I’m no financial planner, but let’s discuss the similarities that I found between the sheet being pulled out from underneath me with the race and how that could happen close to reaching FI.
We drink coffee, a lot of coffee, I mean it is even in our blog’s name, Slowly Sipping Coffee. All of this coffee consumption over the years has led me to trying to find a good balance between “good” coffee and “low cost” coffee. In Denver, I would go to Sunflower Market to their bulk bean bin and pay ~$6/lb which was good at the time. We’ve tried buying in bulk when we still had our Costco membership, we’ve tried the bulk bean route at the grocery store, and those worked well to cut down on costs but the best savings and flavor balance I’ve found so far is – wait for it – roasting my own coffee!!
I know right?! How would roasting your own coffee at home be cost effective and easier than just buying it at the store? Don’t you need specialized equipment, a grand knowledge of coffee roasting principles, and somewhere to buy the beans? The short answers are No, Meh, and the internet. For the longer answer, keep reading and let me explain.
Until Mrs. SSC left her old job to teach, she was miserable. Her company continually reminded her she was just a number by dragging her and others through long protracted layoffs. Even though she didn’t get let go, the whole process left her with zero job satisfaction, and ultimately she lost all drive to work there. I felt very similarly working for that company my last year there, and after failing to get moved to a better position, I also left that company. We had both lost our ikigai…
What’s ikigai? Ikigai (pronounced icky guy) is a Japanese term that translates as “the reason to wake up in the morning.” In other words, it’s your driver in life, what keeps you going and motivated. Does that mean we really need a reason to get up in the morning if we’re retired?
Good morning everybody! Today we have a guest post on what it’s like actually living your FIRE dream! This comes from Lois at Living Dubois and that’s pronounced “Dew-boys” not “due-bwah” as you may have assumed. She’s got some great posts and awesome pics about living post-retirement life in Dubois, WY.
She writes about what it’s like living in Dubois, WY as opposed to where she lived her entire adult life, New York City. Yep, she went from big city, and big sky scrapers, to.. well, just big sky (I know that’s Montana, but if you’ve never been to WY, it fits there too!).
FIRE One Year In: Living Out Our Paradigm Shift
While packing for our latest road trip, I was amused to notice that this time I hadn’t bothered to give the house the usual top-to-bottom cleaning before our departure. And I didn’t really care.
What changed?
Once, I thought of it as a dream house, and I was preparing to return to my dream. Now it is just home. Our dream has become a satisfying reality.
We have spent a lifetime working for financial independence–working two jobs, saving money, and spending only prudently. As a result, I was able to retire early last June, several years after my husband did so.
The “retire early” element wasn’t necessarily part of our original plan, but I have no regrets about it Quite the opposite.
Getting to this place required us to take a step that seemed wildly impractical at the time (and may still seem wild to some friends and family). While living and working in New York City, we bought a log house thousands of miles away in remote Dubois, Wyoming.
Given our lifelong habit of financial prudence, this felt like a crazy leap. But we were both in love with the small town and its dramatic surroundings. We had visited a guest ranch there when our children were small, went back several times, and eventually realized we just didn’t want to stop being there.
We figured we’d work it out somehow.
Luckily, the Internet service in Dubois is even better than in New York, which allowed me to telecommute to my Internet-based job before retirement. For eight years, we traveled back and forth twice a year, spending ever more time in Wyoming and ever less in New York. Importantly, from the outset we decided to fully integrate ourselves into the life of the town.
Gradually, we realized that the city we called home had little appeal for us, now that we weren’t part of its ladder-climbing mindset. And our Wyoming home has all of the factors we wanted for our retirement.
Climate: When we first moved here, we didn’t understand how important the weather would become as aches began to set in to our aging joints.
In the “banana belt” of Wyoming, the weather in Wyoming’s Wind River Valley is so temperate that the prehistoric Shoshone natives made it a habit to winter there. The winters feel milder than those we experienced in New York, because the snow tends to blow away and the dry atmosphere moderates the temperatures.
We have also traded the humid summer storm cycles of the east coast for a dry high-mountain desert atmosphere that tempers the heat. Nights are very cool and so are the days in summer.
Community: I thought I was a dedicated city dweller, but (like my mother before me) I discovered that city life can lose its appeal as you mature. Our neighborhood of 30 years has become very hip, hot and cool at once, and I feel out of place there now.
Besides, I’ve seen it all so often before. The sight of the playground always made me miss my now-grown children. The sound of revelers made me weary, not jealous or nostalgic.
Retired to Wyoming, I’m enjoying the new experience of life in a small town that both welcomes newcomers and takes care of its own. I love the fact that a car will stop for me as I’m crossing the highway to the Post Office, and that I will recognize the friend who’s at the wheel. We enjoy new friends who share our enthusiasm for these surroundings. There’s more to enjoy about it than I have space to tell here.
Cost of living: An important economic factor is that Wyoming has no state income tax. But a great deal more makes this a frugal place to live.
For one thing, we’re in an environment where others don’t have a great deal to spend, or if they do they don’t flaunt it. There is no Fifth Avenue with expensive shops, not even a shopping mall. There aren’t many dress-up occasions where you feel the need to trot out an evening gown or showy jewelry.
You can find what you need here, and there’s a well-stocked grocery store, but only a few restaurants. We enjoy doing things for ourselves anyway, including cooking.
Many of the favorite pastimes around here – hiking, quilt-making, painting, and photography, musical jam sessions, book clubs and card games—are free, or nearly so.
There simply aren’t that many attempts in Dubois to separate us from our money, and most of those are for good charitable causes.
Geography: Our new home is in the center of the great American West, a region I took little opportunity to visit back when I was a working woman with children. We’ve spent plenty of vacation time in the last 8 years exploring, and now we have the liberty to discover even more.
Activities: Retirement means the liberty to do what you wish. I love to keep busy. So except when I’m out hiking with my dog, which is my main diversion here, I enjoy spending my time at volunteer work. This supplants my paid career with equally meaningful work that gives back to the community. It also allows me to continue working as part of a team, in this case people in the community who share my goals. I’m content, and happy to get out of bed in the morning (although now I can often ignore the alarm).
How different it all is than the retirement I imagined for myself! When I was younger, I assumed that retirement meant loss: Losing money, losing work, losing friends, losing contact. I never guessed it would bring so much adventure, fulfillment, and delight. Of course it all began with those two important words: Financial independence.
Thanks again Lois for the insights into FIRE and what its like in Dubois! And be on the lookout for a follow up look into how her finances have been affected by this change.
This weekend I ran the Outlaw Half Marathon in Luckenbach, Texas, and I finished! Yeah!! While I didn’t hit my stretch goal of finishing in under 2 hrs, I still had a lot of fun and really enjoyed it, and I think I may have found a new hobby. Even as recently as last December I hadn’t broken the 5 mile mark with my running, but since I’ve written about that already, you can catch up here if you missed it. This post will focus more about the race day, feelings going into it, and random thoughts during and after the race.
Just so I’m not wasting anyone’s time, there’s no financial stuff in this post, but if you want to read more about the half marathon journey, continue onward!
This past President’s Day I had the day off. Yep, I’m at one of the odd oil companies that still honors this day, which meant Mrs. SSC was at work, and the kids were at daycare, so I had a real free day to myself. I decided I would take the opportunity to go fishing, since I hadn’t been on the water yet this year. The weekend before, I checked my fishing tackle, read up on some new rigging techniques and made a list of things I needed from our local outdoor store. I got some different hooks, weights, and other items so I could try a new fishing technique. It’s actually old as dirt, but since I’m new to freshwater – non-fly fishing style fishing, it’s been “learn as you go”, and I have no one to teach me anything. That equals a lot of fishing, and just a little catching.
When I got to the lake, I talked with a guy, Cowboy, and he was telling me about a website that had all of these crazy expensive reels on sale for less than $50. Line, rods, reels, lures, anything you would ever need. He mentioned that he found it over the holidays when his house had been robbed and they got $1000 worth of tackle from his place. My first thought was, Holy crap, including my kayak, I don’t have $1000 worth of tackle! When he described his reels that he had stolen he talked about how he’d paid $400 for one, $200 for another, $300 for one that was on sale… Then I realized, I must be pretty cheap when it comes to buying gear. My whole rod/reel setup was less than $60, although I did get it on a great 40% off sale. It’s worked great and I’ve caught some really big fish on it. My other rod and reel, was one my mom used back in the day, and with a little reel lube and occasional line replacement, it is still catching fish at over 30 years old… My kayak, I got on sale for $150 off, along with all the accoutrements. Then I realized what the difference was in my shopping habits and Cowboy’s shopping habits.
I shop for value on my money spent balanced with the return I’ll get out of it. Hmm, that sounds like a lot of jibber jabber, so let me explain what I mean. I’m just an average Joe fisherman that probably couldn’t tell the difference in quality between a $400 reel and my current reel. Okay, I could, but I wouldn’t see it being worth the extra $340. I understand that the $400 reel will no doubt be “better” than my reel that I use. If Cowboy values that extra quality, then that’s awesome it’s his hobby, he should be able to enjoy it with whatever tackle he finds makes it more enjoyable for him. I would find a lot more enjoyable things to do than spend an extra $340 on a reel, so for me, it doesn’t pay out a positive return. I also understand that in general more expensive means better quality, but it doesn’t mean you have to overbuy. For less than $60 I’ve had a rod and reel that has worked great for over 3 years now. I didn’t overbuy but I didn’t buy cheap either.
I’ve found buying “cheap” leads to more spending than buying quality because cheaper things break quicker and need to be replaced more often. However, there are plenty of middle of the road companies that make great products for fair prices. I tend to stay in this path, unless I find a great sale. Even then, just because something is on sale, doesn’t mean you need it.
I’ve come to find that’s the key with spending and not just related to hobbies. It’s not about “how much did it cost”, even though it seems like it for some people. I’m not one of those people. I’d rather get a fair price for good quality than spend more to have a name brand. When we were kids, my Grandad would give us $100 for Christmas. The stipulation was that you had to use it on shoes first, then you can do whatever you want with the money. My brother would invariably get the new Nike Jordan’s and still need an extra $10-$20 bucks from mom or dad. I’d hit Shoe Carnival and get 2 pairs of shoes, and have $60 left over to spend on whatever I wanted. I didn’t overbuy, my shoes lasted the year, and I got to get more toys or what not with the leftover.
Have you ever found yourself overbuying on things? Is overbuying worth it for you? It was for my brother, and he got his return on enjoyment from the money spent by having Air Jordans, even though they wouldn’t always make it a full year…
Maggie from Northern Expenditure put out a post about a “Filling your Bucket” List a little while back, and I’ve compiled some things that have “Filled my Bucket” so far. The thought is that instead of obsessing about ticking off things on a Bucket List, you’ve probably already done some pretty cool things in your life, so take a moment to reflect on all those things that have already “Filled your Bucket”. Below are some things I’ve done that have been really fun and Filled my Bucket. Enjoy the pics, I tried to put in more than usual!
Mr. SSC: Hike most of the Appalachian Trail – While trying to figure out what I wanted to do in college or if I even wanted to remain in college, I decided hiking would be the best way to figure that out. So, I researched, planned, and then hiked from Maine down to Lower VA which was about 1700 miles. The hike worked and I figured out that I wanted to study Environmental Science which ultimately led me to my career in Geology.
Mr. SSC: I got to go hiking in a jungle in Belize. We hiked in for a few miles and then we got on tubes and floated back down a creek, and we went through a bunch of limestone caves. It was pretty awesome floating in darkness through a cave, and then you see the light and come back out in a jungle!
Mr. SSC: Sky dive! I was writing an article for a magazine in Denver – a sort of advertorial but it was a paying free-lance writing gig and I covered reviews for mountain biking trails, white water rafting, etc… Sky diving was one topic I was supposed to cover, and when interviewing one of the schools, he asked, “How can you write about it if you’ve never done it?” I told him I didn’t know, so he asked if I could be there at 7am the next day. I went and got my first jump in by stepping out onto the wing strut of a small Cessna! It was awesome!
Mr. SSC: I’ve gotten to throw beads from the Royal Sonesta balcony on Bourbon Street during Mardis Gras. If you live in or near New Orleans, Mardis Gras is a weeks’ long event culminating into revelry on Bourbon St. when Mardis Gras finally gets here. Most of the balconies on Bourbon St. are booked years in advance, and are not necessarily open to the public. You need passes and they even have security at the doors checking invites. BUT, I was able to get passes one year and it was a pretty awesome vantage point! No parades come down Bourbon St., but the people watching was some of the best I’ve ever seen.
Mr. SSC: Visit the “Goonies” house in Astoria, OR! Yep, the first real vacation Mrs. SSC and I took together we decided we’d visit the Portland, OR area. She asked, “What do you want to do around there?” I said, “OH!! We’re only a few hrs from the house where they filmed Goonies!! We could go see that!” And so we did, and I never got much more input on vacation itineraries after that, lol. I’ve seen that movie over 300 times easily and so it was really cool getting to see “the house”, even though I didn’t get to do the Truffle Shuffle on the stump.
Mr. SSC: Ride on a Mardis Gras Float – While we lived in LA I got a chance to join a Krewe and ride on a float. I did this for 3 years, and it was pretty awesome, but word of warning, it’s also expensive! You have to pay to join the Krewe, which covers float maintenance and all the costs associated with putting one of these things on. Plus, you buy everything you throw, so in essence, you are literally throwing money away. The first year was the worst, but following years, I stocked up on a lot of it through yard sales, where local kids would repackage beads and animals and trinkets caught, for $1/bag or less.
Mr. SSC: Climb 23 Colorado 14’ers, which are peaks at or over 14,000′ high. To be honest most of these were glorified hikes. Well, long hikes with some tough sections but still, I loved it! There were a few where we took some radical routes (like below) and probably should have had ropes, but it all ended well thank goodness!
Mrs. SSC: I’ve been to all of the contiguous 48 states so far in my life. I want to eventually visit them all, and so far, I’ve gotten to all of them except for Hawaii and Alaska.
Mr. SSC: Being a father. This might be cheesy, but there was a time when I was younger I didn’t want kids or see me ever having kids. As tiring, trying, challenging, and frustrating as they can be at times, there isn’t anything I’d do differently or trade to not spend time with them.
Mr. SSC: Go to France! I’ve always had a fascination with France, even studying French for 5 years from middle school to high school. I didn’t get to go on that class trip, but I did get to go on my grad school field trip to Le Mont St. Michel. I got to see some rare silicilastic reefs (most are carbonate), the Eiffel Tower, and even visit Normandy Beach, along with the memorials and cemeteries associated with that invasion. That was the saddest, and most inspiring part of that whole trip.
Those are some of the things I’ve gotten to do that have filled my bucket. Thanks again to Maggie for putting that out there, this was fun getting to relive a lot of these memories!
We’re continuing the “Our Next Life Challenge” put out there by one of our favorite bloggers, our next life. The following is my take on it, and even a picture of me!
As you may have been following, we recently went through a drawn-out lay-off situation with Mrs. SSC. It was a blessing in disguise really, because while she didn’t get laid off, it really forced us to examine what would happen if she were let go. The short answer, is that our quality of life would most likely improve and we would end up a little better because of it. Schedules would get less hectic, we could focus more on family time, have more freedom, and less stress to get to better enjoy our downtime.
In short, that’s what we are looking for with “our next life”, is a more relaxed, less hurried pace of life that will allow us more time to spend with the kids and ourselves.
We’ve come to the realization that we aren’t seeking the typical Financial Independence Early Retirement (FIRE) situation, but rather a Fully Funded Lifestyle Change (FFLC). We feel it’s a distinction for us because Mrs. SSC really wants to teach, and while I would be happy not to work, if I came across a small Oil & Gas company, I’d definitely hit them up for some consulting and part time work. So, while we’re aiming for the FI part, we don’t really see it as early retirement, because we plan to be fairly busy with other projects, we just won’t have to depend on any income they may/may not provide. We see it as having the opportunity to pursue what we are passionate about – regardless of the paycheck, and to always have the freedom to put our family first.
Location:
Currently, we live in the great metropolis of Houston. While we love our neighborhood and immediate area, we would not want to retire here because we need four seasons, mountains to hike, and a smaller town that has a community feel to it. We’re currently looking at the Roanoke, VA area because it has a lot of amenities and a lot of small communities around it, while being nestled into the Appalachian Mountains. We haven’t ruled out North Carolina, or Eastern Tennessee, however the greater Roanoke area is close to some good colleges and universities that could fit Mrs. SSC’s teaching goal quite well. But, that could all change if she gets an offer to teach somewhere else that we hadn’t thought of yet.
Timing:
We’re looking at no earlier than Mid-year 2017. Unless we win the lottery, but I doubt the occasional $1-$2 ticket is going to make that happen, and yes, we will occasionally buy a lottery ticket. GASP!! Since we’re not counting on winning that, our financial models have us looking at 2017 for a few reasons. Mainly, I get fully vested with my company “retirement” plan then. It’s their version of a pension, so I’m not going to leave that on the table. I also have a golden handcuff bonus that hits mid-summer 2017, so I’m not leaving that either. Most likely it will be 2018, but if Mrs. SSC gets a good teaching job before then, and we can live off of that income, let our investments grow more, then we may pull the trigger on our Lifestyle Change in 2017.
What will we do:
We have no worries that our time will get filled up with activities. Beyond getting to have more home cooked from scratch style meals, just having free time to hang out with the kids will be awesome.
Mr. SSC: I like to play the banjo and guitar, and will spend a lot more time playing music. I also want to finally spend more time learning the dobro. Gardening is another way I plan to spend my time. Exercise. Something else I have to force into my schedule now to keep off the “office lbs” but can do for fun when I have free time. Blogging. Yep, I’ll spend some more time keeping posts coming out and updating you guys with how we’re doing. Volunteer/Part time work. I don’t know which of these will happen, but between the kids sports/activities, our local community or possibly church, I plan on doing some work with a few of these to keep socially active. Fishing, how could I have forgotten fishing? I like kayaking and fishing and plan to spend a lot of the time on the water doing one or both. Woodworking. I want to build a wood strip canoe, and maybe a wood strip kayak as well, along with other projects as they come along.
Mrs. SSC: Teaching. She will most likely have a teaching gig of some sort to keep her occupied. Photography is another hobby of hers that she doesn’t get to spend as much time with as she would like. Painting is something she enjoys but hasn’t had the time to enjoy recently. Reading. She longs for the days she can be “that girl” sitting somewhere for a few hours with a book/kindle in hand without a care in the world.
Travel:
We plan to travel during the summers or the kid’s school breaks. We want to take at least a month and road trip each summer across the US or maybe even Canada. We’ll just knock around camping and seeing the country. We also want to see a baseball game at every major park, and we can start knocking some more of those off of our list again. International travel is something we want to do, spending a few weeks or so in another country with the kids. I think it would be great cultural experience for everyone and a fun way to spend part of the summers. We’d like to live abroad at some point, but it will have to wait until Mrs. SSC’s parents are gone and the kids are out of the house. Camping and hiking whenever we have free time. With the Appalachians at our door, we are positioned well to be in the woods a lot.
I’m sure we will probably end up with a schedule where we will mix up time for kids, music, gardening, blogging, napping, exercise, and more once we get our rhythm established and get the pace of our lives turned down from 11 to a more respectable 3-4 level.
That’s what we see as “our next life”, at least as it is looking this month. It changes, but the overall goal is the same – more freedom, less stress, and enjoying life.
With all of this talk about layoffs and possibly looking for a new job soon Mrs. SSC has been working on her resume. Don’t worry, she’s been working on it before now, but it keeps bringing up this debate over whether or not to highlight soft skills. If you do list them, to what degree should they be featured and what is the best way to incorporate them? We have opposing schools of thought on this concept. I think they show a side of you that your technical skills may not reflect, while Mrs. SSC tends to go the more traditional route and downplay or not list soft skills at all. Let me elaborate on some of my more humorous soft skills and then I will show how they can be interpreted on a resume.
Soft Skills:
Advanced Banjo, Guitar, and Dulcimer player
Excels at Small Talk: Voted “Most Likely to be in Someone Else’s Office Chatting” by my previous company
Excellent Gardener: Produced 1 perfect tomato from a single plant – expects to double success this fall
World of Tanks: Blitz!: Deputy Tank Commander of VOLT clan. Achieved a 64% Win Rate
Excels at Weeding: Uses hands to pull roots instead of indiscriminately using chemicals
Franchise owner in Madden XXV: 8 consecutive Superbowl Titles, Developed 2 MVP quarterbacks from Rookie status
Candy Crush Soda: Achieved Level 368 – current level progress may be higher than listed
Interpretation of Soft Skills by Hiring Manager
Creative, and disciplined to become advanced on an instrument – instrument choice shows outside of the box thinker
Good office personality, probably well-liked by colleagues. Would transition well into any group. Plays nice with others.
Prefers quality over quantity! Willing to put in the hard work for little reward. Probably would accept more work for same pay and not complain…
Knows how to strategize, lead a team, and manage risk. Can quickly assess a situation and determine the best scenario to achieve success!
Not afraid of hard work, selective in his thought process and work methods.
Good manager, and can develop people – possibly mentor material and/or leadership position
Persistent, driven to win. Won’t accept defeat, but continues to strive for victory
Interpretation of Soft Skills by Mrs. SSC
Choice of instruments sounds like a hippy, maybe not corporate material
Doesn’t stay on task – disrupts others – could be counter-productive to the whole floor if left to roam the halls on his own
Can’t grow anything – must not use internet for help or reach out to others when needed. Who grows only 1 tomato?!
Spends too much time playing games – 64% win rate?! That doesn’t happen overnight…
Weeding by hand?! Who does that – this guy is stuck in the past – chemicals are around for a reason, sounds like a typical work harder not work smarter situation…
Again with the games?! Does this guy have a social life – probably just everyone he chats up at work…
??? Shows ability to get obsessed with things that don’t matter. Probably heads down lots of rabbit holes in his current work projects. Probably easy for him to get distracted and stay off task…
Clearly Mrs. SSC is a bit more harsh than the hiring manager’s interpretation of my awesome soft skill set, because I did get hired by a different company. They tend to like the out of the box soft skills I’ve spent a lifetime developing, but I can’t seem to get Mrs. SSC on board with that. She keeps rolling her eyes and telling me I’m ridiculous and those kind of soft skills would get her passed over for an interview, much less a position. I have to disagree. I mean, I added some soft skills like mine to her resume, and she didn’t protest at all. Although, I didn’t tell her, so maybe she hasn’t noticed yet?
What are some soft skills you would put on leave off of a resume? Have you ever seen anything as ridiculous as my soft skill set on an actual resume?