We’ll close this iteration of our discussion on spending and saving in a second.
But first, a quick update.
It has been a nice November for the Never Retire newsletter. We have grown paid subscribers to 111. That’s up from 93 at the end of October. Good for a 19.3% increase.
Here’s my intention and humble pitch to you to upgrade or join as a paid subscriber:
I hope and intend to write this newsletter forever.
As you know, I will Never Retire so, when I say forever, I mean forever. When the time comes like (hopefully) 50 years or so from now and you don’t hear from me for more than a week, it probably means I’m dead. (True, but also meant to be a joke!)
My 3-to-5-year Never Retire plan—maybe less, if I’m lucky—is to only write this newsletter. This means no more private clients (I usually have one or two I’m writing for most of the time) and very little, if any writing on other platforms.
So, you’re taking my journey with me, using it and everything I write about and we discuss to help inform your own personal financial journey.
Being a paid member is about more than eliminating the paywall, it’s about supporting the existence of a newsletter I plan to write forever. It helps support one illustration of a Never Retire strategy.
As always, I appreciate the support and will continue to update you on our progress.
of published an excellent Tweet the other day:
It’s a nice bookend to our recent discussions on saving and spending.
Money absolutely can buy happiness.
The problem many people run into with this—I definitely did up until a few years ago—is they don’t know what they want.
You can apply not knowing what you want to trouble you experience in most aspects of life, from relationships to work. And definitely money.
The people who run around seeking happiness through spending often spend indiscriminately, if not recklessly. They’re like serial daters, people who date a whole bunch of people over a short period of time because they get off on the chase. They don’t know what they want. And, even if they do for a time, it’s usually superficial and ephemeral.
Once they get to really know themselves—and what they want over the long-term—things fall into place.
Which brings us back to Ben’s Tweet.
Here’s my spin on it. Consider your personality. But also limit your spending to a handful of things you really get something from.
For each, create a pot of money.
These things you choose to focus your spending on don’t have to be directly material things.
For me, it’s like this—
A travel fund. Direct and material.
A move to Spain fund. Direct, but not material. More a mid-term life goal.
A rainy day fund. Indirect and contributes to cash security.
Outside of that, I have a few other things I have determined I really like and can’t live without—
Yoga.
Dining out several times a month.
The costs these two things incur don’t come from pots of money. I cover them from my checking account cash cushion.
While I like other things, such as buying clothes or going to concerts, I don’t do them all that often anymore. Because I like them, but don’t love them. I can live without them.
If you focus your spending on just a few things—and strategically cover them via pots of money and monthly cash surpluses—you will be happier and better situated financially, now and for the duration. At least that’s my experience.
Congrats on the subscription growth. Well deserved!