Never Retire - What an Extra $4,200 a Month Can Look Like

Paid subscriber post #8

Part of what I will do with this newsletter is take some of what I write on Medium deeper in the weeds, using my own personal finance as illustration.

As an example, I have an article hitting Medium tomorrow (Christmas) or the next next day about the impact of a monthly car payment on our budgets. Some of us—myself included—accept a car payment as the cost of doing the business of life. At the same time, if you’re of relatively modest means, it might make sense to take a closer look at this.

How can I not have a car payment?

Sometimes it just comes down to resetting your lifestyle and status expectations.

So maybe it’s not about completely shedding the car payment, but slicing it in half or more by switching from a luxury vehicle to something more run of the mill.

For me, I’m dropping $350 a month on a Hyundai. A big money goal for 2022 is to get rid of this expense. If I do, it means an extra $350 a month and $4,200 a year to play with. When I say play, I mean thoughtfully allocate into my pots of money to help facilitate life today and going forward.

In this installment we quantify what this extra money can do.