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Brandon Hunt, known on the internet as MadFientistretired in 2016 at the age of just 34 after actively saving and keeping expenses to a minimum.
At the same time, he does not regret the wealth accumulated by his “hyperfocus”. saves 70% of his income“I might take my foot off the gas knowing what I know now,” he told host Paula Pant in a recent episode The Allow Everything Podcast..
Ahead of early retirement, the software developer and his wife lived frugally “in the woods of Vermont” while they pursued financial independence. But during that time, “I fell into deprivation, and neither my wife nor I were happy,” said Hanch.
Now with two young children, his spending habits have changed. Rather than being “ultra frugal”, he prefers to spend on things that improve his family’s quality of life, such as buying a house in Scotland, where they now live – a decision he described as “pure luxury” compared to his previous frugality.
“For the first time in my life, I’m enjoying home ownership,” Ganch told Pantu. “I don’t let it stress me out. I know there will be costs,” so he doesn’t worry so much about “saving every penny.”
“Don’t increase your net worth”
Hound’s shift in thinking came after reading Bill Perkins’ “Die With Zero,” a book that emphasizes a balance between financial independence and enjoying life’s experiences in the present, not just saving for the future.
Looking back, Hound regrets missing out on certain moments in his 20s, such as the bachelor party he skipped to avoid expensive plane tickets.
“I wouldn’t want to go and have a boozy weekend now that I’m 40 with friends, but I wish I’d missed it in my 20s because it would have been so much fun — and we’d make great stories , which can be told,” he said.
He still values the freedom of early retirement and is keen to keep his savings intact, but has become more relaxed about spending. “You don’t maximize net worth. You have to maximize net realization,” he said.
“My biggest financial regret is not my spending, but my thinking”
Like Hound, Alex Trias wishes he wasn’t so fixated on reaching his goal of early retirement. Before the Triassic retired at 41 and moved to Portugal with his wife, he spent years obsessing over his investments, a habit he wishes he had avoided in retrospect.
“My biggest regret financially is not my spending, but my thoughts,” Trias previously told CNBC Make It. “Before, I kept thinking about investing at a low price, waiting and then selling at a higher price. I cannot begin to explain the anxiety and waste caused by such a mental mechanism.’
In retrospect, “I think trying to pay attention (to your net worth) month by month or even year by year is probably counterproductive,” Trias said. “Focus not so much on the end result as on the habits you’re forming.”
Sam Dogen, Founder A financial samurai and author of a forthcoming book, “Milestones of a millionaire,” does not regret his decision to retire early, but wants to work for a few more years.
“I now realize how ridiculously young I was when I retired,” wrote Dogen, who retired at 34. 2019 article for CNBC Make It. “Several people even commented on how irresponsible and reckless my decision was, especially since I was just entering my peak earning years.”
Dogen spent 13 years in investment banking before leaving with $3 million in net worth, which generated about $80,000 in annual passive income. But holding on a little longer would allow him to save even more for retirement and potentially explore new opportunities.
“Looking back, I could have stayed at least another year and found a new position with the firm in another office,” he wrote. “I always wanted to work abroad – in Hong Kong, Taiwan, Beijing or London. Perhaps it would rejuvenate my interests and convince me to work for a few more years.”
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