Minimalism and early retirement are a match made in heaven, much like the classic pairing of peanut butter and jelly. Each concept enhances the other. By adopting a minimalist lifestyle, you expedite your journey to early retirement, thanks to reduced expenses. Similarly, early retirement often inspires a desire for simplicity, helping you get more out of your newfound freedom.
My personal journey towards minimalism since 2018 has seen its ups and downs. I attempted to sell my oversized home with two unused bedrooms ten years ago without success. Finally, in 2022, we managed to downsize, and it felt liberating to eliminate the unused space.
My wardrobe, once filled with formal wear, is now quite sparse, though I still find it hard to part with old t-shirts laden with memories. For over two decades, I’ve managed with just one car, a necessity for shuttling my two young kids, although I’ve toyed with the idea of going car-free.
However, in 2020, I deviated from minimalism by purchasing a larger home, which led to more furniture, maintenance, and cleaning. Now, motivated by various unfortunate events, I’m committed to returning to the principles of minimalism and early retirement. It’s easy to accumulate more over time, gradually complicating our lives.
Embracing Minimalism Amidst Life’s Inevitable Breakdowns
Life has a way of reminding us about the value of simplicity. Here are some recent experiences that have reinforced my desire for minimalism:
1. Car Troubles
The biggest upside of an old car is the peace of mind it brings. However, after a recent incident where my car was damaged while in a valet’s care, I faced hours of stress dealing with insurance, rental cars, and repairs. This experience made me wish I didn’t own a car at all, as dealing with automotive issues is always a hassle.
2. Property Challenges
Owning physical properties means continuous maintenance. From dealing with a tenant’s stolen bike and city compliance issues to plumbing problems and electrical failures, these tasks consume time and energy. It reaffirms my decision to focus more on private real estate investments, which offer fewer direct responsibilities.
3. Children’s Health
Since my children started school, our family has faced frequent bouts of illness, affecting our routine and well-being. It’s made me ponder the benefits of homeschooling during peak illness seasons.
4. Complicated Finances
As wealth grows, so does its complexity. The bear market of 2022 was a stark reminder of the volatility in stock investments and the benefits of a diversified portfolio. However, managing a varied investment portfolio can be time-consuming and complex.
5. Online Presence and Technical Glitches
While I enjoy running Financial Samurai, technical issues can be frustrating. Reducing the frequency of posts and newsletters, along with possibly shutting down comments temporarily, are steps I’m considering to simplify my workload.
The Beauty of a Simplified, Minimalistic Life
Early retirement provides the freedom to handle life’s random problems. However, even with ample free time, dealing with these issues can be burdensome. We naturally yearn for fewer complications to fully enjoy our interests and passions.
In the face of these challenges, here’s my plan for embracing minimalism:
- Streamline Wardrobe: Donating clothes that don’t fit or are not personally purchased, particularly those kept ‘just in case’.
- Selective Toy and Book Donations: Passing on children’s books and toys to families in need, promoting education and a love for reading.
- Property Decisions: Considering selling my condo if the tenant leaves and reinvesting in diversified private real estate, and committing to not owning multiple properties.
- Content Reduction: Shortening my posts by 20% for easier editing and reading, and to avoid burnout.
- Instilling Minimalism in Children: Teaching our children that less can be more, encouraging a life of moderation.
Becoming a complete minimalist with young children may be challenging, but it’s a worthy endeavor. The pursuit of minimalism and early retirement is not just about financial independence; it’s about freeing up time and space to focus on what truly matters.
