Letter to the Editor: Wish Me Luck
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Reader E writes:
Howdy RW (and fellow Escapologists if you’re reading),
E here writing to you from West London – actually, from Croatia where I am lounging on a beach near Split. But usually, based in WLdn.
I am currently re-reading I’m Out (my signed copy… thanks!!) and pondering my current life situation; more specifically, where I may still fall into The Trap.
This year I made a pledge to limit my shopaholic tendencies and have purchased just one non essential item of clothing all year, a very pretty silk dress, at a 15% discount, which I wear almost weekly. Other than that, I have curbed my spending on clothes exponentially, and it’s had an impact on my other spending too. Money spent on non-essentials translates into hours of work I’d need to undertake to pay for them, and whether I would be willing to sacrifice e.g. a day of early retirement for a takeaway and a new jacket. The answer is usually no, and I’ve managed to save approximately a third of my net income per month since adopting this mindset.
I am about to turn 22 years old and am in quite a unique situation where I am a homeowner with no debt, due to a series of both fortunate and unfortunate events, and so I am seeking ways to further reduce my spending so that I can retire, ideally, in the next 18 years. Possibly sooner, 40 just seems like a milestone age. Realistically, with an income of circa £2k/month after PAYE tax, £1.5k after council tax and bills, I should be able to cut out even more expenditure. If I can manage this without cutting out trips to my local pub and social club, this would be ideal. I am attempting to get back into sewing and repairing my own, and friends’/family’s clothes, and have tried my best at cooking from scratch (and growing my own herbs on my flat’s tiny windowsill).
I hope you know you have inspired me to see my friendships, happiness, relationships, hobbies, etc., as priorities over the Trap of careerism. I work a bullshit job. Everyone around me does too. Nobody will remember me as “a competent customer relationship management administrator” when I die.
Cheerio, look forward to reading the next one.
Wish me luck!
*
Well, what are you waiting for? Wish her luck, everyone!
About Robert Wringham
Robert Wringham is the editor of New Escapologist. He also writes books and articles. Read more at wringham.co.uk
I would wish you luck E, but you might already have it made – no luck required!
Rent the house out, use a portion of that income to cover council expenses, maintenance, etc., and use the rest to buy a sailing boat in the Mediterranean, then never work again in your life.
Good luck, I wish I had that insight when I was 22, I am 54 now and plan to retire within a year.
Nice job (insert eye roll here at my bad joke)! But I highly recommend keeping up your social life even if it involves a little spending. Early retirement is a marathon so enjoy the trip as you go otherwise you can quit in frustration. I know…I made the mistake at one point and then added back in some extra spending. I still beat my estimate in the long run and left full time work at 39 then did part time at a fun job until 46. Fully retired for about six months now and I don’t regret the extra spending money at all. It all works out in the end.