tag:blogger.com,1999:blog-8552721.post112439005229120258..comments2023-06-16T10:23:26.465-04:00Comments on Just Between Strangers: Good thoughts never go staleACMhttp://www.blogger.com/profile/05150889888692992746noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-8552721.post-1124458108822814782005-08-19T09:28:00.000-04:002005-08-19T09:28:00.000-04:00It's true -- if you really want to not have to wor...It's true -- if you really want to not have to worry about a job, then you'd have to be willing to work like a dog for a chunk of time (a decade, maybe?) while living in ramen-noodles student poverty. That would build up a ton of principle fast (you could probably sock away tens of thousands a year on a grown-up salary), but sort of suck meantime (unless you're still 20 and don't know the difference). Personally, I'd be willing to have my salary + investment income be enough that I was increasing my savings over time (i.e., rolling investment income back in and adding some) such that I could be financially independent in retirement. You have to suffer at some point, and I'd rather do it slowly by having a job all that time, rather than intensely but for a shorter period by living the enforced poverty lifestyle. <BR/><BR/>I guess I focused on the "having enough" part and not the "investment income" part when reading this the first time - I'm not sure that I'd ever have "psychological freedom" when my income could be wiped by a market crash or other uncertainty. I suspect that most folks would benefit by exposure to the idea of systematic discipline -- even just paying off debt rather than necessarily building up big income-generating equity, or figuring out a method that allows for regular savings. Any of those are better than living off your whole income right now, even if you don't aspire to becoming "wealthy."ACMhttps://www.blogger.com/profile/05150889888692992746noreply@blogger.comtag:blogger.com,1999:blog-8552721.post-1124398639380566422005-08-18T16:57:00.000-04:002005-08-18T16:57:00.000-04:00I'm left to wonder, though, in the case where one ...I'm left to wonder, though, in the case where one doesn't have any family money to fall back on (or to seed things), how feasible financial independence (living solely off of investment income) is... not to mention the high cost of health insurance these days.<BR/><BR/> And even if it is feasible, I'm not sure I could ever bite the bullet sufficiently hard in the meantime to get there.. (I'm reading _YMoYL_ at the moment... )<BR/><BR/>MedleyAnonymousnoreply@blogger.com