On July 4, 1845, an eccentric and unconventional 27-year-old began a two-year experiment in simplicity. The man’s name was Henry David Thoreau, and the location of his experiment was on the shore of Walden Pond outside of Concord, Massachusetts. On a 14 acre parcel of land owned by his friend, Ralph Waldo Emerson, Thoreau built [Continue Reading]
Happiness: An Unexpected Benefit of Frugality
If you’ve followed me for long, you know that I think frugality is important. By frugality I do not mean painfully depriving yourself of happiness now so that someday you’ll be more happy. I also don’t mean you have to live in a tent or eat rice and beans your entire life. No. Frugality can make you happier [Continue Reading]
How to Retire Rich With Embarrassing Old Cars and Fixer-Upper Houses
At coachcarson.com I love to write about starting a business, doing deals, flipping houses, and finding many other ways to increase income. Our incomes are the essential engines that help us retire early and reach a destination of financial independence. But, as I also write about, more income by itself is not sufficient. There are high-income earners [Continue Reading]
When Will Your Period of Financial Sacrifice Be?
“[E]very person, unless they were born with wealth, must serve a financial sacrifice period if they live a normal lifetime. Furthermore, everyone has the option to either serve that sacrifice period while they are young and healthy or they can wait until they are old and sick.” Jim Napier, Invest in Debt I have some [Continue Reading]
How Frugality Bought My Freedom
This article is about the idea that frugality, or living more simply financially, can buy you freedom both in the long run and in the short run. Frugality does not have to be a painful and difficult sacrifice. Frugality does not mean you must become a greedy, covetous Ebenezer Scrooge. Like people who love exercise or [Continue Reading]
The True Cost of Regular Expenses: The Rules of 752 & 173
The concept of reaching financial independence where passive income fully supports your lifestyle is fairly simple in theory. Essentially you just increase your income, cut your expenses, and maximize your savings rate (see my article “Simple Math, Early Retirement“). But, as we all know and as I shared in “Destination Financial Independence,” simple concepts like losing weight, exercising, and [Continue Reading]