In his book, The 4-Hour Workweek , Tim Ferriss proposes that we shift our focus from end-of-life “macro” retirements to more frequent mini-retirements , which might be spaced throughout a working career. Though similar to a vacation or a sabbatical, mini-retirements differ in some key ways:
A sabbatical is a one-time event. Mini-retirements are meant to recur throughout a lifetime.
A vacation is short, and often involves a tourist lifestyle with little immersion in a new way of life. A mini-retirement is long (one to six months), and allows one to fully participate in his new environment.
Ferriss recently took time to speak with me about his notion of mini-retirements. Last week, I published the first part of the interview, in which he discussed using mini-retirements to get more out of life . In today’s excerpt, he provides some real-life examples of how to put this concept in action.
Important note: In our conversation below, Tim describes...
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Now and Then: How My Current Financial Situation Compares with a Decade AgoFrom: feeds.feedburner.com
Post Date: 2008-05-22 05:00:11
I spent the 1990s addicted to credit cards. I was mired in debt.
Recently while cleaning the garage, I unearthed a box full of old receipts and bank statements. I spent a couple hours sifting through them, aghast at my former spending habits. It was like peering into the life of a stranger.
Addicted to debt
The oldest documents I have are from April 1994, less than three years after I graduated from college . Already I had $9,550.13 in credit card debt. (I also owed more than $5,...
more Daily Links: Blind Money, Check Fraud, and Economic StimulusFrom: feeds.feedburner.com
Post Date: 2008-05-21 20:00:07
Amber dropped a line yesterday to share a story that might seem minor to some people, but which is important to her and many others. A U.S. Federal appeals court has ruled that paper money is unfair to the blind , which may force the Treasury Department to redesign our currency.
“This has been a big issue in the blindness community for a number of years now,” Amber writes. “I am curious to hear what you and your readers think of this issue. As for me, I am blind myself,...
more How to Save Hundreds by Playing the Drugstore GameFrom: feeds.feedburner.com
Post Date: 2008-05-21 11:00:03
This is a guest post from Cathy , who writes about family finances, cooking, and parenting at Chief Family Officer .
I love the philosophy of getting rich slowly by doing the fundamentals: spend less than you earn, pay off debt, and invest wisely. One way that I save money is with what I call The Drugstore Game.
The Drugstore Game involves combining manufacturer and store coupons, and taking advantage of a store’s best deals. When played at the highest level, the Drugstore Gam...
more Behavioral Economics on Why We Buy What We BuyFrom: feeds.feedburner.com
Post Date: 2008-05-21 05:00:09
Money is more about mind than it is about math. Our financial decisions are often based on psychology and emotion rather than on pure numbers. Nearly everyone understands intellectually that credit card debt is bad, for example, but for millions of people, this understanding isn’t enough.
A newish group of researchers dubbed behavioral economists have been exploring the gulf between financially optimal behavior and the things people actually do . One reason, said economist Dan Ariel...
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