Now that our family has moved to North Carolina, our next big financial goal, ten years’ hence, is retirement. We’ve decided to wait until Little ThreeYear graduates before we retire (although we could always change our minds). Since we’ll be retiring somewhat early, before the “official” age of 65, we’ll need to structure our retirement so that we have access to different pools of money, or streams of income, to tap into.
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”
Hi folks! Welcome to the second post in my Wednesday series. These are real stories from people who have become location independent, work internationally, and/or continuously travel. They’ll be sharing how they became location independent or how they got jobs abroad, but most importantly, they’ll share how their lifestyle has positively or negatively affected their finances and how they got to the life they’re living now.
The reason for this series is to showcase people who have already achieved what the ThreeYear family is working towards: location independence and/or securing international jobs. Since we’re not sure which route we’ll take, we thought we’d hear from people who’ve already achieved the life, so we can learn more.
Today, I’d like to introduce you to Steve, from the blog Think, Save, Retire. Steve very kindly agreed to share his story when I reached out to bloggers on the Rockstar Finance Forums (check them out! Tons of financial nerd types like myself discussing all aspects of financial independence!).
Steve retired at age 35 and he and his wife Courtney currently travel the United States in their Airstream (a.k.a. my dad’s dream mode of transportation). Steve has given up traditional employment and now blogs about how he and his wife created a life that freed them up to do more of what they really value the most–namely, travel.
Without further ado, take it away, Steve!!
Can you tell us a little bit about your background? Where you’re from, how long married, degrees, pets, etc.
I’m 35 and recently retired from full-time work. I worked in the information technology industry for my entire career doing things from computer programming and database administration to being the Director of Information Technology at a not-for-profit organization. I was born on the East Coast, but I’m definitely more of a West Coast kind of person, so I moved out here in 2007 after starting my first real job in Virginia. I’ve been married for almost three years, and my wife and I live in our 30′ Airstream Classic with our two rescued dogs, Patti and Penny.
When Mr. ThreeYear and I decided to turn our financial lives around in 2008, we had a lot to learn. When we first started to budget, we wasted tons of money on what we now consider unnecessary expenses (things like alarm systems, cable, and yard service).
We were living in Atlanta at the time, and the dominant culture in that city can be a bit… showy. Since public transportation is limited there, as it’s one of the most spread-out metropolitan areas in the country, cars are a must. And one of the most popular Atlanta pastimes seems to be car one-upmanship. There was even a Lexus Lot at Turner Field, so that Lexus owners could park their cars in an exclusive lot much closer to the field. We were driving a BMW and an Acura at the time (although they were both very used), even though we had debt.
Then we moved to New England and we were exposed to a completely different culture. In the rural New England hamlet where we live, people like to say that they’re of hardy stock. After all, you have to be tough to brave seven months of snow, mud season, and the fierce weather that characterizes the very northeastern-most region of the country. Natives of this region are often seen in January in nothing more than plaid shirts, jeans, and boots, with temperatures in the teens (that’s roughly -10 for you users of Celsius).Continue reading “Planing Our Way to Frugality”