Save 100% Income But Why Are You So Cheap? | BeatTheBush

Let me take this moment to address an ongoing comments on my channel asking why I am so cheap when I can save 100% of my income. It probably was only possible to save 100% of my income due to being frugal. I actually do not see the reasoning of becoming annoyed at another person’s spending habits. Each person has their own person preference on where to spend their money. I enjoy spending on my hobbies and even more importantly, towards financial independence. It’s a lofty goal which requires great sums of money to be able to generate enough passive income. As a ball park figure we can use the 4% safe withdrawal rate to figure out the amount of money one may need to save to achieve this milestone.

Probably going to brittany this is beat the bush today i’m going to address the common comment that i get on my channel and it goes something like this you’re an engineer why are you so cheap why is your home so empty you save a hundred percent of your income and yet gripe about free cell phone service from freedompop it looks so empty by the ways because this is

A set i have a lot more stuff that’s in other rooms and stuff but the general themes that these comments are quite right yes it may come off from the videos i am a bit cheap but when i go out with friends i don’t really count like oh i can’t order this appetizer if people are going out to the movies i won’t go no i don’t want to watch a movie you know i just go with

The flow with everybody else i try not to hinder anybody else when i’m saving money so usually it’s for personal things like my own cell phone cable bill you know like or like going out to lunch i don’t do that very often nice to go out to eat but you can imagine as an engineer i can probably afford a lot of different things maybe by table lattes every morning i can

Probably make out-of-state trip every few weeks i can have 15 lunches every single day i can have really fancy dinners twice a week fifty hundred dollars per person twice a week i can buy all the light latest gadgets iphone 7 or whatever but i don’t have an iphone 7 i have an iphone five and i’m still okay with that the statement of why are you so cheap you’re an

Engineer sort of assumes that my lifestyle has to be inflated because of my income so when i’m an engineer people assume a certain income and therefore based on that income i should inflate my lifestyle too accordingly of the average of all the other engineers for me i fit my lifestyle which is pretty comfortable for me but it’s not based on my income at all four

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Things i don’t really care about ice cream block and four things i really do care about i splurge on these comments and statements really gives me a reflection and i get it all the time that the people that don’t understand you can see how hard wired consumerism to these people because i’m not following the norm then i am thought of a strange or cheap or what i’m

Being frugal because i have something bigger to save up for i don’t want to buy random things gadgets and stuff because i bought it for years they depreciate so quickly i have so many different little gadgets that’s worth nothing right now so these days i prefer not to buy the latest iphone and let it depreciate like crazy i’m not saving up to buy like a mercedes or

A bmw or something like that i’m saving up to buy something much bigger than that that cost maybe 10 20 times as much that is called financial independence and this is very costly in order to save up enough to be financially independent it depends on your burn rate i currently spend about $40,000 a year which may be pretty low compared to other engineers living in

The silicon valley but even at this really low burn rate of $40,000 at the states withdrawal rate of 4% i still need $1,000,000 of investable assets so there you go i need $1,000,000 that’s what i’m saving for that’s why i’m not buying an bmw m3 or a mercedes or flying all over the place all the time or eating all this fancy dinner i’m content with eating whatever

I cook just driving my 15 year old porsche boxster that’s why i’m so cheap than all the other stuff because i don’t care of all the other stuff i don’t care about a cell phone i can still use it the freedompop thing i can still have data i can call on it just fine but you see why this is all about the cash flow thing where i’m trying to maximize my income reduce

My expenditures so that i can build up my investable portfolio so that i can become financially independent now it seems like a lot of people might not have this as an ultimate goal why do you want this as an ultimate goal because when you’re financially independent you have so much more free time instead of working week after week and every single year you’ve got

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Two week vacation you’re essentially have infinite vacation when you have a full-time job every single week you work five days a week right you take maybe half hour commute or something it tires you out so by the time you get home you really don’t have time to do anything i know when i’m working full time i only have really one day a week because on a saturday i’m

Basically catching up my life i’m in doing laundry i am cleaning everything about everything that i missed during the week and i only have one single day however if you’re financially independent you can have seven full days or maybe just take one day a week to you know do like chores and stuff but you still have six days this is what six seven times as much free

Time as when you’re working so what’s more important is buying a real cellphone plant more valuable than your time iru time is much more valuable and therefore that is why i don’t buy all these fancy gadgets and stuff instead i use my money to buy more time i understand a lot of people subscribe to my channel mainly due to the credit improvement videos where you’re

Trying to improve your score because you want to buy a car because you want to buy a house very rarely for when you want to churn a credit card because that’s way down the line all the time you just people want to get a better car better house or qualify for a good job because they do check your credit score just so that you can have it you know above a certain

Limit so that they always see you have you or responsible financially but all those things are consumer based and work based because you are going to buy a car or a house and you’re going to go get a job where you’re going to get paid a salary and then you’re just going to going through the cycle it has nothing to do with increasing your cash flow and financial

Independence so therefore of course i still like things right dinosaur here is peas i need money to buy things certain things i have a 3d printer over there digest buffer $200 and yet i don’t buy a cell phone plan so when i look at how i spend money i direct it very sharply at things i really really like and if it’s things that i don’t like too much or i can do

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Without i cut them out you know what time my party lives other than saving and reaching financial in the so that i can get more time it’s actually making these videos for you guys making these videos where you guys actually gives me a lot of satisfaction because i help people take off their contact lenses and people aren’t hurting their eyes these days i hope people

Improve their credit score so that they can do better things with their finances or somehow hopefully i’m helping people pay off their student loans and also consolidate their debts things like that to help their finances out so that they’re not bothered and dragged down by big ball of debt i make videos of other genres other than finances to help in other ways

As well and i hope you guys appreciate those as well so don’t get me wrong i like things just as much as the next guy i would rather have an iphone 7 if i don’t have to pay for it of course if at some point in the future whatever i saved up is able to meet my burn rate if i have stuff on top of that yeah you bet you i’m going to spend that on whatever because i am

Set already okay and i would have the freedom to do whatever i please and if i have extra money on top of that then yeah i’m going to use that and buy you know fancy your toys i guess i probably just won’t blow it off on something because being frugal your whole life you tend to not just kind of flip the switch and and just you know become like a spender you might

Notice under my channel banner it says why so awesome i just don’t understand that i just don’t understand heart describes perfectly the people that don’t understand what i am trying to do that’s like most people thinking why are you earning this money i just don’t understand why you need to be so frugal so i explained it i hope the people that were perplexed or

No longer perplexed and maybe i have convinced some people to be frugal as well that would be the day leave a comment down below if you are convinced so that’s all for today don’t forget to give me a like on this video i have an audible link down below patreon here and don’t forget to subscribe thanks for watching

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Save 100% Income But Why Are You So Cheap? | BeatTheBush By BeatTheBush

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