Even those who don’t make the big bucks can escape the rat race years early if they put their minds to it. So says “Ariechert,” one of my favorite posters in the Financial Freedom Community.
I don’t agree with all of the advice that Ariechert puts forward. But I do recommend that you take a look at his posts. What makes his stuff special is that he speaks from the heart. Ariechert can often convey in a small number of words ideas and emotions that it takes a good number of other posters (like me, for example!) pages of text to get across.
Ariechert’s Tip #1 on How to Escape the Rat Race — Don’t let the fact that you don’t earn a big income stop you from pursuing the goal.
The basic facts of Ariechert’s life circumstances and the impetus of his decision to retire early are set forth in this post on how to escape the rat race.
He never earned more than $28,000. He worked “spraying dog manure down a drain” as part of an effort to find a cancer cure.
He notes in this post that “I have never had a job where I got one iota of recognition. It was always the people above me taking credit for the work I did.”
It is a little hard to believe that that is entirely so. My guess is that it is a bit of an exaggeration. Still, I do think that this comment highlights one of the reasons why many workers today are seeking an escape from the rat race. People have a deep need to obtain more than money from the work they do.
Ariechert’s Tip #2 on How to Escape the Rat Race — Use your bad work experiences as motivation to save, not as an excuse to spend.
Ariechert is not a complainer. I noted above how he feels that he has never received recognition for the work he had done. The most important lesson that his story teaches, in my view, is that he did not permit his feelings about not receiving enough recognition embitter him. Most of his posts convey an easygoing, lighthearted attitude towards life.
Take a look at this post, in which he argues that “If you are responsible for just yourself, you can easily get by on retiring on less than $500,000.”
Or this one, in which he says that “”I live in a house with ten acres of land valued at $79,000, drive a 10-year old Toyota, all of my bills together come out to $900.00/month, and I feel like I have a pretty good life.”
Ariechert comes across as grateful for the good things he has in life. He did not permit his negative experiences to crush his spirit. He used them to motivate him to do the things he needed to do to get to a better place.
Ariechert’s Tip #3 on How to Escape the Rat Race — Don’t be afraid to be different.
Ariechert lives on a smaller income than many middle-class workers would be comfortable living on. He retired while his wife remains in the workforce. He relies on his wife’s company-provided health insurance.
He chose a path that wouldn’t work for many others. The reality, though, is that we all have some things in common with others and some things about us that are unique. I think it is a mistake to ignore the conventional wisdom just for the sake of being a rebel. There’s usually a good reason why certain viewpoints become widely accepted enough to become conventional wisdom. When those reasons don’t apply, however, it can make sense to take the path less traveled.
One of the benefits of tapping into the wisdom of our community is that we have all sorts of people sharing their financial freedom dreams on our discussion boards. If you cannot relate to Ariechert at all, you might be able to relate to someone else who posts at the same board. You need to expose yourself to a diverse group of takes on all the various financial freedom topics to form a well-informed take of your own on how You, Inc., should proceed with its financial freedom quest.
The bottom line is that you are given only so many years to live your life before it is taken from you. Ariechert notes in this post that his father died shortly after turning sixty-five. Seeing that happen is one of the things that put the idea of seeking an early escape from the rat race into Ariechert’s head.
Ariechert’s Tip #4 on How to Escape the Rat Race — Understand that all life decisions have financial consequences.
It is important to marry someone who is not heavy into consumerism, according to Ariechert.
In this post, he notes that divorce can be the cause of a big financial setback.
Ariechert argues that he would not have been able to retire early if he had had children. I don’t advise anyone to give up having children for the possible financial benefits. In my view, the satisfaction that comes from raising children can provide that sense of recognition for a job well done that Ariechert failed to obtain in his work life.
Ariechert also argues against starting your own business. Again, I believe that having your own business can provide both financial benefits and a sense of deep satisfaction. But, again, the benefit of tapping into the wisdom of the Financial Freedom Community is that doing so permits you to hear a variety of viewpoints on these sorts of questions.
Ariechert’s Tip #5 on How to Escape the Rat Race — Don’t Hang Out at the Shopping Mall.
Ariechert argues that things you buy often just become a drag over time. In contrast, money you invest provides you the freedom to do the things you most want to do with your life.
I personally like to be able to enjoy a lot more of the benefits that can be obtained by purchasing goods and services than I could if I entirely took my leave of the workplace with only the amount of assets Ariechert had when he retired from his job “spraying dog manure down a drain.” But I very much think he is onto something important with this one.
Those with big incomes can get permanently caught up in the rat race. And those with moderate incomes can escape the rat race at remarkably early ages. The key is developing an understanding that, while spending is often fun, saving is often more fun.