Owen Raskovitch

many people don't add in this a bit of a nerdy thing many people don't factor in the effect of inflation so you've got to remember that that's a big thing another thing is tax so what you get after tax and after inflation probably isn't what you've modeled in the calculator but just for round figures absolutely you can use one of those compound interest calculators

This is kind of where I'm going to bring this quote in now.

I had it for further down.

It's one of my favorite quotes on saving and it comes from Morgan Housel, pretty much the greatest writer that's ever existed in terms of finance.

And he says, this is a quote, past a certain level of income, what you need is just what sits below your ego.

He goes on to say, think of it this way.

And one of the most powerful ways to increase your savings isn't to raise your income, but your humility.

So past a certain level of income, what you need is just what sits below your ego.

And I guess that's not necessarily, people don't pursue fire because they have less ego than you.

But what they do realize is that necessarily, it's not necessarily the material items and the spending that brings you happiness.

There are many other things in your life.

And so we've got down here, and this comes from Mr. Money Mustache,

And he's identified some research from some, I guess, scientists, if you call them psychologists.

And in no particular order, the biggest factors which influence human happiness are meaningful work.

And by that, they mean autonomy, low levels of stress, and a low level of fear of losing your job.

We all know what that feels like.

um their private life so i i guess i would define that as your connections with people and connections with the environment in which you live yeah the other thing is the community so where does a community bring you happiness absolutely it does health is an obvious one um freedom which plays right into the financially free retire early movement and the philosophy of life i think that's kind of like a catch-all at the end that's

effectively saying what's your outlook yeah and so if you think about that the this is this is what um psychologists and scientists have found through rigorous study nothing there has uh bmw has jet ski has uh anything of that sort in that you know there's none of that it's all about how you are as a person i guess your personality those types of things your outlook

yeah and i read once um i think it was a book to do with financial independence but uh it was had an exercise and they said write down the 10 things that are the most important to you and you want to spend the most time doing and then it said write down the things you do spend the most time doing and you spend the most money on and sort of compare those two lists and where you actually want your priorities to be and it might be your spending time with your family

where you're actually spending most of your time and money and can you align where you currently spend your time and where you want to spend your time and where you currently spend your money and where you want to spend your money more in line that's a really interesting thing and it reminded me of this other concept which is negative visualization so it's how to put things in context what's most important for you