Extreme frugal living: Move into an RV
Blogger retired in his early 30s.
This blog is called Early Retirement Extreme for a reason. Jacob, a guy in his early 30s, spent five years saving and investing 70% of his income on his way to a goal of quitting the rat race, and now he's going to save even more.
Here's how he explains his goal: "Six years ago, I decided that a lifestyle based on bills, mortgages, retirement plans, and conspicuous consumption that depended on working a job for 30 more years or maybe even the rest of my life was not for me."
He and his wife are nearly financially independent, but
wanted to cut living expenses further and increase savings. Thus, they
came up with the RV plan. They bought a 1991 34-foot recreational vehicle
(289 square feet) with 58,000 miles, paying $14,200 -- in cash,
naturally. Their rent for the parking space will be much less than they
were paying for an apartment in the Bay area.
"It has wheels," Jacob writes. "It also has everything we typically use in our rental except wasted space."
(Jacob originally considered a tiny Tumbleweed house -- an idea we find very appealing -- but his wife wasn't enthusiastic.)
How does this lifestyle work? He explains some of it in a post called "How do I get my spouse to go along with my frugal plans?" (For more information, read "How to retire in 5 years.") Here are a few details:
He can walk or ride his bike to work.
He barters, swaps and freecycles.
He knows that living like this is not for everyone. "Of course there are some compromises," he writes, tongue-in-cheek. "You can't have a media room. You can't have a home gym. Also you have to say goodbye to the bowling alley in the basement you just financed with a second mortgage."
Published Sept. 12, 2008
Copyright © 2013 Microsoft. All rights reserved.
Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.
ABOUT SMART SPENDING
LATEST BLOG POSTS
Nevertheless, a new study says, young working women says men are more likely to get the top jobs.