The allure of early retirement has enthralled many people and has become a bigger and bigger movement. As more an more people follow this strategy to regain more of their time, one can possibly take this too far by being too frugal. This is to the point of self restriction and refusing to do social activities in favor of saving more money. Please be very aware of your financial plans but also know to take care of your current life. Life happens now and it does not start after your early retirement. Extreme saving can have a toll on your own personal life so be sure to mix in a good balance as I am sure pushing it too hard is the the answer. You might view it as saving for this spectacular future but doing it the the extreme is detrimental to your current life.
How’s it goin everybody does this betta bushed today we’re going to talk about being too frugal because being too frugal will sometimes make you rich but alone sometimes have you just heard about this financial independence thing and that you can actually retire early you can get a little bit too carried away with this some people might push it a little too hard
And kind of lower their quality of life such as eating something not as good like something really bland like beans and bread all the time or maybe they won’t turn on any kind of electrical items even when they’re in the room the goal here is not really to retire as early as possible you’re not racing anybody saying oh i’m did in five years or four years or even
Three years the goal here is to be able to live your life to the fullest in a totality if you live every single year to the fullest then obviously you win if you’re to approval you could be putting your life on hold and you could be losing out on the years that you have now of course we all don’t know how long we’re going to live so you’ve got to live a little bit
Now but not so creatively so that you blow away all your financial independence plan the one thing that’s important is to never turn down socializing with your friends and family unless of course you really hate them or something that maybe you don’t want to hang out with such friends you do want to set aside time and money for your friends and family that you do
Like so sometimes you might actually do things that’s completely out of character from your normal frugal method if you were left alone so i call this but not frugal fun it’s just money in there that when you do it you’re going to cringe you’re going to go oh my gosh i can’t believe it why am i wasting so much money for example i just went to a bobo place last
Week i completely would not just walk in a bulbasaur these days and go get a milk tea with boba in it and bring it back home just to drink it of course they bond by myself i’ve make my own milk tea but this is with friends so when i go to the store with my friends yeah you kind of need to order something or maybe share i don’t know so i would just toss this into
The no reason – a type of fun work yes it doesn’t make sense financially but it does make sense when you’re spending it with your friend or family because you’re actually socializing with people building relationships and this is really good in terms of life in general a lot of big spenders like to eat out they eat out just so that they can obtain food so then it
Becomes like a really recurring process where for a person that’s trying to be financially independent you actually use going out to eat as a socializing thing normally yeah we just eat at home but then whenever you have other people yes you use the restaurant as a meeting place and you go out and it becomes a lot less frequent because you’re not going to be needing
Everybody every single day of the week you really want to spend it in such a way that you are eating and you are meeting with people that you like it’s important to keep on reminding yourself that if you’re super frugal that life happens now it does not start happening after you can retire early so you really have to take care of your current life even if it means
Spending a little bit more and delaying the date that you think you’re going to retire early i had a friend in college just like three years younger than everybody else because he studied throughout his high school he just didn’t do anything else he just kind of ripped through high school really really fast but then in the end what did he have he didn’t have any
Experiences in high school it’s like it’s completely removed from him he did tell me more than a few times that he wish he could have taken it a little bit slower because all of that you know it’s just life that he never experienced and he wouldn’t never know what it was like to you know how the high school experience so remember it’s not how fast you can retire
But really how cool you can live your life throughout your whole life not just right after retirement because if you do it too quickly you might find out that once you start your early retirement there’s no life to live at all because the whole time that you’re saving you’re just working working working saving up and then when you start retirement you find out hey
You know you don’t have anything to live for so i put this as a warning out there because there’s so much buzz about early retirement these days that people might get carried away with this i hope this makes everyone understand you shouldn’t pay your frugality all the ways that i max that let’s back a little bit so that you can live a little bit or life now don’t
Forget to give me a like on this video comment down below let me know if you think you should pull back your frugality a little bit if you’re interested in supporting this channel you can get a free audible book down in the video description below through audible you can also support directly to a patreon over here and don’t forget to subscribe thanks for watching
Transcribed from video
Early Retirement Can Make You Rich and Alone By BeatTheBush