Impress Now or Retire Early?

I had coffee with a dear friend yesterday and I was so inspired by a story she shared with me about her cousin that I had to share it.

Her cousin and cousin’s husband had always lived on the cheap – everything they owned was used, repurposed or borrowed. Their furniture was old and they were the recipients of every hand-me-down there was. They have young kids and the extended family tried to help them in any way possible.

A few years ago, her cousin announced that they were downsizing to a small apartment to work on paying off their debt. The extended family could not fathom how this family was going to make it work in an apartment on the 3rd floor with no elevator that was even smaller than where they had been living. But they did.

Fast forward to today, here is an update on the cousins. After working 19 years for the city, the husband is going to retire next year at the age of 37 with a full pension. He also owned a landscaping business on the side that he did managed in his spare time that he will be selling as well. They purchased a home and are in the process of filling it with brand new furniture and designing their landscaping. Next year they will be retired, debt free and living in an all new (and paid for) enivornment.  And they will not have hit 40 years old yet. 

They didn’t care what people thought of them while they worked hard and saved their pennies.  Now they will be living the life that most of us would love to have.

Moral of the story – consider making as much money as you can and spending as little as you can now and reap the rewards later. I know we all know this but it is so easy to forget.  Is it more to drive a shiny car, have designer clothes and have a fancy title at work? Or would you rather have no debt and have retirement in your short-term future? I know my answer!

Jennifer Schoennagel
CEO, Business Partners 360
www.businesspartners360.com

Tags: job search, job security, making money, recruiter, retirement