4 ms·
There's so much focus on trying to increase income and not so much on trying to reduce expenses. Both sides of the equation work, but not equally. I find reduc
by eulgro 2y ago
There's so much focus on trying to increase income and not so much on trying to reduce expenses. Both sides of the equation work, but not equally.
I find reducing expenses is much easier. I manage to live on about 20% of my net income, and I could make more than two of me live while earning minimum wage. Since the amount of savings needed for retirement is directly related to your expenses, by reducing them you need to save even less.
Make a budget, see where you can save the most. Move to a low cost-of-living area, get rid of your car, learn to cook, and in general learn to be content on less.
Sure, we can't dream for the standard of living our parents and grandparents had anymore. But this standard was in no way realistic. It was fueled by an era of cheap energy and a booming, young population. It was never environmentally sustainable. Nor would it be even with renewable energy. We have to adjust our standards.
The tragedy for me is not on an economic level, it's on a social level. The fragmentation of ideologies, the loss of community, the loneliness, the atrophy of real life interactions. Not that I have known much of what it was like before. Yet this is also a choice we make collectively. Rebuilding community takes time but it's definitely doable. And from my experience it starts by moving aside from technology.
- deleted 2y ago[deleted]