I finally did it. I cut the…cyberspace pathway to Netflix! No, it wasn’t for the extra $8.95 a month. It was for time. Time to read, workout (no more butt in seat), and just be more productive at the end of the day. Netflix is a great product if you can practice restraint. When you finish a show you have about 10 seconds to decide if you want to watch the next episode or…okay watch the next episode!
This was completely disregarding the message I learned in “Take the Stairs: 7 Steps to Achieving True Success” by Rory Vaden (a book I will be rereading). As Dave Ramsey says, “Personal Finance is 80% behavior and only 20% head knowledge.” It was easy for me to get home from work, make dinner, and watch a 20 minute show while eating. That 20 minute show turned into another 20 minute show, and sometimes another! No exercise happened. No betterment happened. Well I did get better at destroying a bag of Baked Lays.
I strive to act now and not procrastinate. That is my daily resolution. Whether it is picking up a piece of trash, being content doing the most rudimentary work at work, doing a short workout, listening to someone vent at work (Many people are so miserable at work if you look around. Very sad.), or helping a new guy/gal out at work. I lose some days but now find myself winning more and more. A nice, gradual, upward trend with a few pullbacks here and there.
I want to incorporate this mindset into my saving/investing by:
- Budget, Budget, Budget! I have a general idea of where my money goes. Reading that last sentence makes me sick. Lack of preparation that needs to be fixed.
- Slowly increase saving/investing rate. I’m averaging around 43-50% a month. I will temper my desire to go over the top so I don’t crash and burn.
- Continue to invest in solid performers
- Continue to pay myself first (bills and investments)
- Stay excited and motivated when stocks are in the red. Personally, I like to look at the 5 year charts (or longer) and dividend history to regain my perspective.
- Never feel obligated to give someone else my time unless I truly want or need to. I will just say “No thank you.”
- Schedule my time for the things that matter.
I will likely think of and learn other things to add to this list.
Below is a 2:33 video of Chris Hogan talking about retirement. My favorite part of it is when he says, “Retirement is not for old people. Retirement is for people that are intentional.”
I am still trying to get a grasp on all of my numbers and set concrete goals for myself. It is an exciting project that I am looking forward to! I did realize on my way home from work that if I do not increase my savings rate or get a pay raise, I will be able to max out my Roth IRA each year on dividend income in under 5 years. I will not be choosing to do that, but that option is open. It shows that the plan works. I just have to execute now.
As my dad told me many times growing up, “Okay. You have the easy part done now.” I reminisce of this and smile because I am aggressively following my current plan for achieving financial freedom. Having an end goal in mind makes bad days seem okay, okay days seem good, and good days seem great!
I wish you the best of luck (and sweat) to achieving your dream(s). Take care!