Quote:
Originally Posted by OMG!WTF!
Yeah, it all falls apart for me when it comes to not having a car. I'd be missing out on a lot if I couldn't drive to the mountains. I don't have an expensive car but it still costs a lot. A guy I know is always bragging about not having a car and not wasting money on insurance and oil changes. I just had the best time telling him to piss off and rent a car to pick up the ladder he needs to buy at Home Depot. I also love collecting art and would miss that as a hobby and passion. You can actually make a bit of money on art though.
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Well I would ask how many times in the last year did you actually drive out the mountains? Could you have gotten a ride with friends and paid them gas money, rented for the other times and still come out way ahead over monthly lease costs? If you must own a car, do it as cheaply as possible. Used, not high end, reliable enough that you can own it for a long time, minimal insurance and organize your life so you don't have to drive it everywhere. Figure out how to be a one one car family when you get to that point.
Home depot delivers.
ERE advocates picking up hobbies where you can break even or even earn extra income and avoiding those that cripple you financially. If you really can make money collecting art, go for it! (Skiing is actually my weakness and it kills our yearly budget as a family of five).
To all, ERE can still be cherry picked for some really good tactics if you think it doesn't fit your lifestyle. You won't be able to retire in five years, but some of the tactics might still really help you get closer than you were before. So I think for everyone it is worth their time to read his website and maybe even buy his $10 ebook if you are finding value in only a few of his ideas.
For those that don't want to retire, I still think it is a worthy and responsible goal to get to a spot where you actually could retire (investment income > monthly expenses, and yes your nest egg will still grow at this point). If you really love your career and working then this is even more important in my opinion, it gives you the security and confidence to really demand only the best out of your career.
Anyhow, I probably posted too much already. The links are there if you are at all curious.