Recently, I caught up with someone I hadn’t seen for a long time. Two decades, in fact. And they asked me what I’ve been doing. I gave them the canned version of events, ending with my most recent news (that my husband and I had left our jobs a year and a half ago and are traveling the world). Their response? ‘It’s much easier when you don’t have kids.’
Tag: Early Retirement Extreme
Last week we looked at the two ways you can earn money through investing: income and growth.
But how do you know which style is right for you?
It’s important that your investment strategy is aligned with your purpose. We all have different goals, and this means that a one-size-fits-all approach to investing simply won’t work for you.
Over the weekend, having recently returned from our overseas odyssey, I was thrilled to attend the opening of Hope: From Robe to Riches. The brainchild of my dear friend, and one of Enrichmentality’s first believers, Dr. Joanne Sullivan, the exhibition is currently on display at Gum San (金山) in Ararat. And it’s an exhibition that got me thinking about the concept of investment.
I’ve been doing a lot of reading – and thinking – about retirement for a new project. In the last few posts, we’ve looked at net worth (including your home), and retiring. But what is the difference between ‘traditional‘ and ‘early‘ retirement? In this post – the 100th post on Enrichmentality! – we’ll tackle this question.
We arrived in Milan, Italy yesterday, hungry. All throughout the flight, visions of plates overflowing with pasta danced in my head.
Upon landing at the airport, we took a bus straight for the city. On the way, we fervently started looking up Italian restaurants – and, no surprise, there were over 6,000.
But all of them were closed.
The herd instinct is ‘a mentality characterized by a lack of individual decision-making or thoughtfulness, causing people to think and act in the same way as the majority of those around them’. It’s a familiar term in investing, where investors are influenced by the positivity – or negativity – of others, and their behaviour then feeds into the market, perpetuating this cycle and sometimes leading to bubbles or crashes.
But the herd mentality I want to talk about today is the one that is much bigger than the stock market, and permeates almost all of our money (and other) decisions.
‘I love your shoes!’ How should you respond to such a compliment? With gracious acceptance? With modesty?
It’s probably the influence of my time spent in Japan, but my usual tendency is to downplay any compliment.
‘Oh, these? They’re only cheap! They were reduced to $20’
For me, responding to compliments with a simple ‘Thank you’, as is common in many European cultures (including Hungary, where I am now located) goes against the grain.
Complimenting ‘is a complex sociolingustic skill’, says Holmes (cited by Grossi), and in Japanese society, a desire for modesty generally outweighs a desire for agreement (Leech, cited by Pohl). Using Japanese norms in Australian society has sometimes surprised – or even annoyed – those I’m speaking to. ‘Don’t say that!’ they respond with utter horror, ‘I don’t need to know how much they cost!’ highlighting the taboo of talking about money.
There’s a stigma attached to the word ‘cheap‘, especially when applied to a person. Something that is cheap is meaningless, to feel cheap is to be embarrassed. No one wants to be a cheapskate – someone who is labelled as ‘stingy’ and ‘miserly’. But just like the word ‘budget’, should ‘cheap’ be viewed so negatively? Surely saving money – or at least, not wasting it – is a good thing?
Buying a home – especially your first – can be both exciting and terrifying. How can you ensure that your search for the house of your dreams doesn’t turn into a house of horrors?
When my husband and I bought our first place, we felt in the dark – and came close to making a pretty big mistake. Fortunately, we learned a lot from the experience, and things worked out well in the end – we found a place we loved that suited our budget, paid off our mortgage in under 5 years, and that was what started our journey to financial independence.
But before we look at what you should do when getting started buying a house, let’s take a look at what to avoid: Continue reading “Where do I get started buying a house?”
Sitting on the bus from Cork to Dublin, I got to thinking about a recent discussion I had with fellow traveller and blogger Elizabeth the Island Enthusiast about the different ways of calculating how long you can travel for – whether for a quick jaunt, extended – or even permanent – travel.
I love words, language, and reading – and most of all, books. New or old, I love them all.
But when it comes to books spouting financial advice, it pays to check the publishing date, just like it pays to check the manufacture and use-by dates on packaged foods.
So how are financial books like cases of wine with sour milk?