Monday, April 13, 2020

Three great ways to start on the FI lifestyle earlier and better.

Three great ways to start on the FI lifestyle earlier and better.


You have seen these before but I’m giving you a different slant below borne out of personal experience; that I have been living the FI lifestyle for over 3 decades:

1.  Move from HCOL to LCOL  -  high cost of living/low cost of living
2.  DIY  do it yourself
3.  Be fearless

Yes we’ve all seen these before, but…
starting with #1:

We do not have to necessarily hurl ourselves thousands of miles away to do this. 

Many go as far as going all the way to different countries to do this, and this is perfectly ok.

If that is what you wanted anyway i.e. for the adventure and the travel experience, not for the potential lower cost. 

I say potential because most if not all newly minted FIRE folks end up paying touristy prices which end up being just as high as living in the u.s.a and of course, there’s more to it than just the price.

But back to moving, it could mean a move as simple as 100 miles away from where you have been living and working for many years thanks to the high paying job.  

Case in point:  just going about 100 miles out of New York City it gets really interesting as to lower costs and there are some pretty sizeable towns to boot.

This can also be said of places like Los Angeles to Arizona or New Mexico, etc. 

You see the point, one does not have to go from Seattle to Macon Georgia for example, unless you have reason to do so other than lower cost of living.

This achieves multiple milestones, such as overcoming the mindset challenge.  

Instead of a seemingly impossible huge move to a place far far away it now becomes a concept that is much more doable from a physically practical and mentally challenging state of being.

Not to mention that if you get nostalgic for the big city again, it’s not that far away and could make for an interesting day or weekend trip.

And that’s not the only way of doing it. 

Some of you will achieve that same goal by even staying in the same area

but just getting away from the immediate zone of your employer and not having to compete for housing with everyone else that needs to live there.

It could be as simple as driving 15 to 45 minutes away to a different but good neighborhood and finding a deal.

You could even find a spot walking or biking distance to many major stores, one never knows until you look.

Of course, if one is looking for a different kind of weather, then a move much further away could be a good plan, such as: 

From the Pacific north west to Arizona, from New York to North Carolina, etc. 

Why am I not recommending moves to Mexico or South America etc.?

Because for most people this is not really a good idea, 

there’s a whole lot more to that than what is being told in the circles where this is promoted, 

and most people end up going back home after a few years of disenchantment.

If you fall in the camp of those that have their heart set on it, go ahead, but plan on having a base back home or at least entertain that idea seriously.

#2  DIY do it yourself.  This aspect also has a mindset issue.  

From the very beginning as a younger man and beginning wealth builder, the school of thought has always been that once you arrive to a higher level of finances,

the smart thing to do is to hire other people to do those things that you used to do yourself. 

 And this could go on for many years during our high earning years, therewith establishing the principle on a habitual level, which is what happened to me.

There are pros and cons to this idea, and especially when one is busy busy earning all the time.

But once we embrace the FI lifestyle, this idea no longer serves us as well as it used to.

If you wince at the thought of having to do it yourself, I understand.

Most diy projects however, don’t have to be overwhelming.

They are only so if and when we attempt to do too much too soon.

Starting with very small projects such that you can familiarize yourself with the how and when to do it yourself, and when not to, is a great starting point. 

 For now just be willing to accept this as an idea, that there is a way for you to learn to do things that you have never done before,

that you didn’t have time for, that you can and are willing to learn new skills, and that it can and is actually fun and satisfying to do so.

And we live in an age where it is easier than ever, thanks to how to do it videos on you tube and forums, etc.

Understand that there is a level of satisfaction in the accomplishment of something you did not know how to do before.  

And a confidence boost in the idea that we are not 100% relying on something that is completely out of our control:

like when you change those spark plugs yourself for $10 instead of the $500 the shop guy was asking, 

or washing your car yourself on a warm spring day instead of paying someone hundreds to do it. 

It could also be a great allowance earning opportunity for the kids, and a great learning experience for them.

I knew a lady that took community college courses in the evenings in L.A. and learned how to re upholster furniture.  

She then would collect furniture on the sidewalks that people were throwing out, and as long as the base was sound and clean, 

she would re upholster it and I'm telling you it looked like and was brand new furniture as if just purchased for thousands of dollars.  

The sky is really the limit here of your imagination.

And it goes way beyond the money, let’s not forget the personal freedom of not being taken advantage of and overcharged (ripped off).

And the satisfaction of accomplishment, that people don't realize is a necessity, until they FIRE and,

not having planned that far in advance, run out of vacations and sightseeing for the initial thrill of it, and then it wears off, and then, - now what?  "I need something to do".  

Being Financially Independent is all about gravitating toward that which makes us happy on a daily basis.

#3.  Be fearless.

This may sound a bit cliché or superfluous.  But think about it.
The whole idea of ‘one more year’ syndrome is all about the real fear of jumping ship so to speak.

Fear is real and it is a strong motivator and usually not for the good.  

Although fear as an emotion is designed to keep us out of harm’s way, in many cases it does the opposite.

When is this the case?  When our fear is not based on the facts, or not based on knowledge of all the facts.  In point of fact, fear is usually borne out of lack of knowledge.  

We are afraid of what we don’t know, or what we can’t see. 
Back in the day, they were afraid to venture out further than they could see, in fear of falling off the edge of the earth, 

because in their mind, the earth was flat, because they never ventured out, and on goes the cycle.

If we don’t have a clear picture of what our life will be like and what all the options are then we will succumb to fear.

This still happens to those that reach ‘their number’ and decide to jump ship at that milestone.  

The reality usually hits them that they really have not grabbed a firm toehold into the FI lifestyle, and they suddenly realize that life is more than money.

This is why I don’t recommend setting a date and then making the cut.   

Instead, grab on to these principles and start chewing on them little by little one by one.

This is a surefire way to building the confidence that you need to embrace the FI lifestyle.  

And there is one more thing;  embracing the FI lifestyle and letting go of fear are two great miles stones to achieve in this life,

and the third and very important is your relationship with the creator. 

Inevitably at some point we all will ask, what is this all for?
Are you ready?

And if you want to look at what all the options are for letting go of fear and getting unstuck from your life and embracing the FI lifestyle, just want to let you know that 

I’ve been there done that for over 3 decades and am willing to take a look at what that could look like for you on a complimentary call. 

Reach out and I’ll send you a link for an appointment.
To your success and happiness.
Frank Louis and family

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