When do you think you will be able to retire? Don't you wish it could have been at 30?! Well, for me, that was more than a few years ago, but for this couple, they are making it work. And they even have a 7-year old! They have some great ideas on how to truly live within your means.
In an article from the Washington Post, Mr. Money Mustache (Pete) describes how he and his wife retired when he was 30 years old. They now live off rental income from a house they own as well as money from odd jobs here and there.
Pete shares how his family lives on about $25,000 per year with a paid off house and no debt. He talks about debt and the habits that put us into debt and those that can get us out of debt, as well. The article is a good read about truly living within your means and being able to make the most of your time.
In addition to the Washington Post article, I recommend that you read a recent article that Pete wrote on his website, mrmoneymustache.com. It's called, "The Surprising Effect of Small Efforts Over Time" and it has prompted me to take a good, hard look at many of my current habits and the way I spend my time. The comments and websites shared by other readers at the end of the article are also quite interesting.
I have signed up for his website e-mails and I look forward to his next article. In the meantime, I plan to read his previous writings one by one as part of the small steps I plan to take in the coming months and years.
What do you think? Are you on the path to early retirement? If so, what steps are you taking?
What do you think about Pete's lifestyle? Could you do it?