I have always been fascinated by the power of money, probably because we didn’t have much of it growing up.
In my family, money was almost never talked about, and when it was, it went something like “money is the root of all evil” which further fueled my fascination with it.
When I entered college and moved away – and then promptly got married – I had the vague sense that we should be eating out less, saving more, and generally trying to be more careful with our early 20’s to set ourselves up for financial success later in life.
It was that fascination that spurred me to start Retired by 40! 3 years ago, when I was fresh out of college, in a new job, and unexpectedly pregnant.
A desire to clear a way through all of the clutter for this then-clueless woman to make some serious lifestyle changes.
During that time, before our daughter was born we had credit card debt, auto debt, no savings, and no plan to save, but we needed to buy a house, accumulate all of the things a baby needs, and find a way to form a stable life for our new little one.
And so we changed.
We more than doubled our income, cut our spending by nearly half, and even paid off $24,000 of debt in 2015. In the process we learned how to budget as a couple, how to curb our impulse spending, and tons of ways to make living frugally easier.
And I want to share it with as many people as I can.
If in the process I manage to help even one person, then sharing our (ongoing) journey will be entirely worth it.
This is why Retired by 40 is now Living on Fifty.
There were many factors that went into this decision, and to be honest some of them were due to my short-sightedness when beginning this website. It has grown faster than I ever could have imaged, and my and my families’ lives are in a far different place than I ever thought possible.
This new name represents a fresh, expanded vision.
It stands for small steps that add up to big achievements.
And through it, I hope to communicate my knowledge in practical, relatable way that everyone can use, whether you are aiming to retire early, or just get a handle on your finances in the here and now.
In plain and simple terms, this means that I’ll still be churning out the same great content, designed to help you save money, make more money, and help you manage your finances better. In addition, I’ll be expanding the content offered to include helpful parenting resources, creative projects, and even some of my favorite recipes.
Ultimately, the goal of Living on Fifty will not change:
I want to help you save money without sacrificing your quality of life.
Are You Still Working Towards Retiring by 40? (And paying off debt, and living frugally, and traveling?)
Of course! The same health issues, freedom issues, and desire to travel are still plaguing us, so that is ultimately our goal. Everything I do here on the website is in service of this larger goal
Our personal goal of retiring by the time we turn 40 will remain the same, but the new name reflects our emphasis on smaller, piecemeal goals to get us to our big end goal: namely, reduce our expenses and increasing our income enough to live on 50%.
Regardless of whether you intend to retire early like us, striving to live on 50% or less is an admirable goal that every family should strive for. Not only does this level of spending/saving set you up for retirement success, it cushions you against emergency, disaster, and failure here in the present.
And even if you never reduce your spending to fifty percent, any reductions you make are steps in the right direction.
Why Living on Fifty?
Matt & I are committed to saving aggressively enough to retire by 40, but that our goal isn’t exactly common, or even reachable by many families. Our situation is unique, but I want Living on Fifty to be a resource for EVERYONE, not just the early retirement crowd.
Part of this vision is the expanded content, and part of it is smaller measurable goals.
Yes, this is an illusion to the S.M.A.R.T. method of goal setting.
We’re still working towards our goal of retiring by 40, but the new name points to a more “now” solution to the debt, savings, and retirement problem: working towards living on 50% of our income.
Our family is in a VERY different place than we were 3 years ago.
We’ve learned a lot, and we want to share it with you, as well of more of our lives, and the name Living on Fifty allows for this.
So, what happens now?
The last 3 years of my life have been unforgettable, and I would love to use the knowledge I’ve accumulated to help YOU. I’ve made plenty of mistakes, and I don’t want you to do the same.
Just like before, I’ll be publishing new content here each day designed to help you save money, pay off debt, earn money, and other ideas that will help you get a better handle on your finances.
Soon, we’ll be moving to the new web address, www.livingonfifty.com, but don’t worry! If you come back to Retired by 40!, you will automatically be redirected to the new site. Even the design and logo are going to look pretty darn similar. After all, new colors + design went up during January 2016, so a new look isn’t really needed.
We are looking forward to this new chapter, and hope that you’ll continue with us!
Until then, I invite you to join more than 5,000 newsletter subscribers and get started changing your money habits while still living a life you love!
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