Good Evening, Geo Crew!
Can you believe it’s September already? Yikes! At this rate, we’ll all be suffering through endless Christmas music in malls and stores before too long. That’s why I usually escape into the mountains for an outrageously long hike where neither Santa nor stressed-out shoppers can find me—lol.
But before we get too cozy with holiday daydreams, let’s talk about what this newsletter is all about:
- Helping you turbocharge your retirement plans
- Arming you with financial wisdom (minus the boring stuff)
- Giving you that gentle nudge to stop procrastinating and start making things happen
Every month, I dive deep into a finance or personal development book and pull out the top two or three golden nuggets. These are actionable gems you can use right away to move closer to your goals—even if that book ends up as a coaster for your coffee mug. Let’s dive in!
In September’s edition, I tackled Your Money or Your Life by Vicki Robin and Joe Dominguez. This book has been on my list for years, and I’m actually kicking myself for procrastinating so long. It’s one of the foundational texts of the FIRE movement and has inspired many to begin or push forward on their paths to financial independence. Let’s break it down and apply Pareto’s 80/20 principle to highlight the most important takeaways.
Key Takeaways:
Tracking Your Spending and Conscious Consumption
Why It’s Impactful: This concept can transform how you manage and perceive money. By tracking every dollar, you gain insight into your financial habits, allowing you to spot and eliminate unnecessary expenses. The Life Energy Calculator or (Real Hourly Wage Calculator) shows you how much you actually earn, making you aware of the real cost of small purchases. Conscious consumption ensures your spending aligns with your true needs and values.
Example for Early Retirement Overseas: Planning to retire in Thailand? Tracking your spending might reveal that dining out at upscale restaurants in your home country consumes a significant portion of your budget. By relocating to a country with lower living costs and practicing conscious consumption, you can enjoy quality meals for less, redirecting savings towards your retirement fund or enhancing your lifestyle. This shift can accelerate your path to financial independence. Next time you’re tempted to eat out, think, “What could this buy me in Thailand?”
The Fulfilment Curve
Why It’s Impactful: The Fulfilment Curve teaches you to recognise when additional spending stops enhancing happiness and may even detract from it. This awareness helps prevent lifestyle inflation, where higher income leads to more spending without increased satisfaction. Essentially buy things you need and that you truly value rather than buying things as an emotional response or for shoppings sake.
Example for Early Retirement Overseas: This resonates with my minimalist side. If you’re retiring in Portugal, understanding the Fulfilment Curve helps you realise that you don’t need to live in expensive neighbourhoods or indulge in luxury goods to be happy. Instead, you might choose a modest apartment in a smaller town like Coimbra or Braga, where your money goes further, maintaining a high quality of life without financial overextension.
It’s a yes from me. Whether you’re a minimalist or the personification of modern consumerism, this book is filled with priceless, life-changing knowledge—provided you choose to take action. It taught me to review how much time I spend on certain activities and whether they’re truly worth my time. It showed me how being more conscious about what I spend money on not only makes me a happier person but a richer one. Finally, this book helped me see that living a happy and fulfilling life doesn’t require millions in the bank; time and happiness are the real wealth.
Book-Book or Audiobook?
Read it in a book-book. I listened to it via audiobook and still loved it, but I would recommend that anyone else reads it with paper and a highlighter nearby to make notes of the gems that fall out of this one.
Thank You for Your Support!
I truly appreciate you taking the time to read the 60 Seconds to FIRE newsletter. Your support means the world to me. If you have any feedback or book recommendations for future reviews, please don’t hesitate to reach out—I’d love to hear from you.
If you find value in this newsletter, please share the Substack with like-minded friends and family. Also, don’t let them miss out on joining our vibrant Geo-Arbitrage FIRE Community on Facebook. Connect with others who share your passion for financial independence and retiring abroad by joining the Geo-FIRE Retire Abroad group here.
Thank you once again, and I look forward to continuing this journey together!
Cheers
Andy
Panama City
Typical Panamanian food and a show