Don't Enter Without Knowing How To Exit

I used to take this somewhat literally.  Just a strange habit.  When I entered a room or space, I would survey my surroundings and try to figure out the different ways I could get out of there.  It was a sort of hyper-alert state of being.  Uber-awareness.  Though more of a mental challenge than anything else.  The only rule was to figure out how to get out as fast as possible and unconventional ideas were welcomed.  You might think this is silly, but don't come crying to me when you're on the wrong side of the zombie-pocalypse.

I employed this strategy with other aspects of my life also, though perhaps more abstractly.  So prior to opening a bank account, I would want to know the rules for closing it. In trying to decide which online photo site to use, I would want to know the process for retrieving my photos. By doing this research, I would try to select the things which gave me the best exit options. Sometimes the answer might be to avoid something completely if there was no way to get out of it easily or it required too much energy to maintain.   You might think of this as some form of commercial commitment phobia.  You would be correct.   It is not preferable to break a commitment (talking morals here), so the best choice is to avoid them altogether.

When looking for apartments, the rolling one month lease is king. If you start off signing a one month lease, then you are probably not getting a good deal on it (though it might be worth the freedom). However, if you let your one year lease expire and convert to a rolling one month lease, then you've got the lower rental rate and the ability to move with short notice if necessary. Or you could move into a multi-room unit when someone else was moving out. Only a name switcheroo is necessary, no new long lease. Automatic good deal.

When I first started full-time work I actually signed up for a phone with a contract (insane!).  I got a bit of a deal somehow.  Very soon into that, I found the phone was shit and the rest of my experience no better.   I sent back the phone and cancelled the plan within my 30 day grace period.   Instead I got a cheap phone with a prepaid plan and never looked back in the five years since.

So before I initiate something I'll try to understand its parameters.  If its attributes are positive and I can reverse the decision easily, then I move forward.  If its attributes are mixed, I'll decide if it's worth pursuing or not.  If so, I'll figure out how to get out of it.  If not, I'll walk away.  And sometimes despite your best efforts you still end up in a bad spot.  In that case it's time to start looking for the exits.  Watch out for the zombies.

"You Don't Need $1,000,000 To Do Nothing, Man"

"Take a look at my cousin: he's broke, don't do shit." - Office Space

It's not necessary to have a thousand thousand bucks to gain financial freedom.  You only need more money than you spend.  If you invest your money wisely, then it can work for you and you don't need as much money overall.  So instead of having 80 years of savings for your remaining 80 years of life, you could have 25 to 33 years of savings in investments to provide the same amount of money.

If you want, you could figure out what your number is by taking your annual expenses and then multiplying that number by something between 25 and 33.  Depending on your situation that may be a large number.  However, since you're probably doing these calculations before you actually stopped working, you project out how much you would like to spend each year in post-work years.  The trap with this method (which is so easy to fall into, myself included) is it depends on wants to determine the answer.  The problem is needs are finite, but wants are unlimited.  It's so easy to think "I could make it with this much money," but when you get to that mark you think "Well, I'd like it if I had this extra bit more."  It just keeps going.

Here's another way.  I looked at how much money I already had and then I divided that number by something between 25 and 33 to get how much I could spend each year.  That's an interesting difference.  All of a sudden I was free and I just needed to figure out how to work with the numbers I have.  I didn't have to think about how much I wanted, I just needed to figure out how to thrive with what I have.  To win, you can just change the question from "how much" to "how to."

You don't have to suffer to live within your means.  Once your needs are met everything else is cake.  Everyone needs to live within their means.  Millionaires can't have everything they want.  At some point they will come up to a limit where they can no longer afford something.  One can have a fancy car, but not a yacht.  Another can have a yacht, but not an island.  Eventually, there is just not going to be enough money.  There will always be something I might want, but can't have.  So if there is no way to escape desire through having more money, then I should not let my wants guide my decisions since they will always keep me running around in circles.  I'll focus on being happy with what I do have.