Are You Camp Earning or Camp Saving?

I have subscribed to Ramit Sethi’s emails for years, ever since he was a fledgling blogger at I Will Teach You To Be Rich. His websites are now slickly professional and he runs a multimillion dollar empire, selling courses on how to increase your earnings. I’ve never bought a course, but his emails are full of advice about negotiating and growing your business, and he writes compelling headlines (if you don’t believe me, sign up and see what I mean). He’s helped thousands of people earn more money in their businesses.

Are You Camp Earning or Camp Saving--www.thethreeyearexperiment.com

Three days ago, he sent out the email, “What Successful People Don’t Tell You.” It linked to an article by the same name. The premise of the article is that people who truly love their jobs will never stop working, no matter how much money they make, because “you would enjoy being on the beach for about 3 weeks…then you would get bored and want to get back to work.” Apparently everyone that this guy has ever met who’s made big money feels this way. Okay. Let’s accept that premise for a sec.

Ramit goes on to slam the FIRE community, for delaying gratification and staying at a job they potentially hate, eating rice and beans, and leading colorless, boring lives (including WALKING as a hobby for God’s sake), only to retire early and then have no purpose for the rest of their lives.

Apparently, there’s a subreddit detailing the dark underbelly of FIRE, which is that once people have sacrificially saved for 14 years, they then have no purpose beyond amassing their $600,000 so they can live off the $24,000 a year in perpetuity.

The article ends by asking you to pick a camp: Continue reading “Are You Camp Earning or Camp Saving?”

The History of Our Side Hustles

In last week’s post, I laid out several streams of income that Mr. ThreeYear and I expect to utilize during early retirement. That led me to remember all the times we’ve had side hustles during our fifteen years together.

Mr. ThreeYear and I have always had an entrepreneurial spirit that runs through our collective veins.

Side Hustles--www.thethreeyearexperiment.com

I grew up as the daughter of a small-business owner. Although my dad was a pediatrician, he was also the owner and operator of his practice, and I grew up listening to him talk about managing his business for ultimate profitability. He was great at utilizing available resources to help him grow his practice in an extremely poor region of the country (rural South Carolina). Seventy-five percent of his patients received Medicaid, and despite the very low payout rates for those patients, he applied for government subsidies and programs to not only allow his business to survive, but to thrive. When he sold his practice a few years ago, he had over 14,000 pediatric patients in a town of only 4,600 inhabitants! Continue reading “The History of Our Side Hustles”

The Six Streams of Income We’ll Rely on in Early Retirement

Even though Early Retirement is a few years’ off for Mr. ThreeYear and myself, since we plan to continue to work when we move abroad, we do plan to retire early (before we’re in our fifties and sixties), and have ever since we began our personal finance renaissance in 2008. Our current goal is to double our net worth by the end of 2019, and even if we leave those investments alone and add not another penny to them, we’d still be able to retire a few short years after that. When we do retire, we’re looking forward to the possibility of multiple streams of income to tap into.

Six Streams of income--www.thethreeyearexperiment.com

Though Mr. ThreeYear and I primarily invest in index funds (we have a “slow and simple-don’t get greedy” philosophy), we currently plan to have several streams of income available to us when we retire. Some will be passive, and others active. While this wasn’t necessarily a conscious plan on our part, life has worked out this way and we’ll take these streams of income we’ve developed along the way. Continue reading “The Six Streams of Income We’ll Rely on in Early Retirement”