It’s been a while since I posted a fitness update around here. I’ve been a little scared to — some of you hate them! More than that, though, I’ve had a nagging injury. I’ve still been able to do my Crossfit exercises, but a bad Achilles tendon has prevented me from running since early January.
Well, my foot has been feeling better lately, so last weekend I joined 30,000 other Portlanders in the Shamrock Run. Some folks ran 8k or 15k (5 miles or 9.3 miles). I did my first-ever official 5k run (3.1 miles). The result? Not too bad. I finished in 24:07. That’s 24th place (out of 437) for men aged 40-44. (And 305th place out of 6400+ overall.) I’m pleased with that, especially since it used to take me more than half an hour to run that distance. (I plan to run another 5k on April 3rd; my goal is to break 24 minutes.)
Meanwhile, I’ve joined my gym’s team for the Crossfit Games, the annual competition to find the world’s fittest person. Hint: That person is not me. I’m doing this for the experience, not because I think I’m buff. But maybe in a few years, I’ll actually be fit enough to take this seriously.
Finally, after maintaining 175 pounds for the past few months, I’ve decided to drop a few more pounds. I’m almost to where I want to be, but still a little heavy for my body size.
Okay, enough of that. No more fitness updates for a while. (And I swore off travel updates this morning, too. Yikes.) I guess that means it’s time to talk about personal finance, right? Here, then, are some recent stories from around the web:
Speaking of retirement, Jacob at Early Retirement Extreme recently wrote about why so few succeed at financial independence. Jacob says that going against the flow is the surest path to early retirement, but peer pressure makes it tough to do. He argues that you should spend much less than you earn, and that you should learn to do things yourself. But because people aren’t willing to do these things, they’re not able to retire early. (My summary really doesn’t do the article justice. It’s a great read, and I highly recommend it.)
Jacob’s article is actually a response to a l-o-n-g but excellent piece at Financial Mentor that describes how anyone can retire in 10 years (or less). The key? Extreme frugality and basic investing. “The critical factor to success is the percentage saved from earnings,” the author writes. The more you’re willing to save, the more control you have over your future, and the sooner you can retire. This article is excellent, too. In fact, it may be worth a full post here at GRS in the future.
Another thoughtful essay comes from Jennifer at Personal Finance Advice, who writes, “Don’t sell yourself short. Think bigger.” She complains that when people think about making extra money, they think too small. They sell their time for pennies instead of dollars, and they don’t try to do something meaningful.
Finally, here’s a little love for long-time GRS reader Nicole, who recently wrote at her blog that there is no best: “There’s no best job. There’s no best way to raise kids. There’s no best way to live your life. There’s only your way. There’s only your path. Some are better than others along different dimensions…but choices are so multidimensional and there are so many tradeoffs that it is impossible to optimize along them all.”
Wow. Four deep, thoughtful articles and zero numbered lists. What on earth is happening to the internet?!?
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OMG! Thanks so much for linking to us. I’m totally blushing.
And congrats on the run.
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I say write away on the travel and fitness. It’s all relevant! Please don’t let a vocal few make you “pen shy” on the topics you really care about. For me, seeing an author’s passion shine through helps convince me to consider his or her thoughts more carefully.
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Wow, 8 minute miles after not running for a couple months? Not too shabby. I consider 8 minute miles pretty fast! I actually enjoy non-personal finance updates, but that’s just me!
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Long time reader, first time poster. Way to go on the race. Ever tried pose running?
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Who wants to retire after 10 years? I’m hoping to get a job that I don’t want to retire from. Sure, I probably will want to reduce my hours, but in order to keep my mind sharp, I want to work!
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Congrats on the 5K — 24 minutes is a great time!
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I say talk about fitness more! It motivates me to work out more, just as reading about personal finance makes me want to try harder in my own finances, it’d be awesome to get motivation for both in one place!! You did GREAT in that run by the way, maybe you should up it to a 10k, and write about that too!!
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Are you kidding me….24 mins for a 5k? I will be the first to admit that I am not a natural runner. I run like a duck (with my toes pointed out) and it is for sure not my “natural” sport (swimming is). However, I have run a number of 5k’s and the best I have ever done is 33 mins. I am POKEY! You, however, are fairly speedy.
I just committed to run a half marathon in Feb. of 2012. It will take me forever to finish but I am committed to finishing.
Don’t sell yourself short…you did fantastic.
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Thanks for mentioning my post on “how to retire in 10 years.” You mentioned an interest in a full post sometime. Just let me know how I can help. I would be honored.
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I’ve been following your blog for about a 3 months. Although I don’t agree with everything you say, I agree with a lot of it. Just wanted to post a reply cuz I’m a CrossFiter too. I entered the games as well…good luck!
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Congrats on your race! I just did my first 5k as well this weekend! I didn’t run as fast as you, but I completed it and ran the whole way which was my goal.
And now I have a time to beat!
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I really don’t understand the appeal of retiring super early. A lot of people I know in their 60s who are successful *like* working and would be bored stiff if they had to retire and don’t want to retire, even though they can.
The extreme sacrifice would bring me unhappiness, and apparently,retiring early would bring me unhappiness. So I don’t really enjoy posts on the theme of “you’re not willing to do what it takes to retire eaarly!” when it’s not a goal of mine.
To enjoy my life, including the things I do to earn money, is a good goal. And right now, I love my job. My boss loves her job, and when she retired I get her job (CFO). However, she doesn’t want to retire, she loves working. Her older husband retired once, then hated retirement and went back to work. My grandfather is 79 and still working full time. He loves it (owns his own real estate company).
So, perhaps 2 of the 4 articles extolling the virtues of early retirement is overkill. Just my opinion.
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Adam – just to clarify, the post I authored doesn’t extol the virtues of retiring early. It merely explains one specific strategy to achieve the goal.
I actually share your sentiments (more or less) and wrote an entire post on the subject called the “Early Retirement Mistake”. I don’t want to link to it here because that would self-promote.
Instead, I just wanted to clarify the purpose of the article J.D. mentioned – it explains a specific strategy to achieve the objective for the many people who share that goal. It does not extol the virtues of the goal.
That is a different subject entirely.
Hope that helps.
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@Adam – It is worth keeping in mind that extreme early retirement and even early retirement should not be confused with “old man”-retirement. [Extreme] early retirement is mostly pursued by extremely driven individuals; people who have a big list of things they wish to do and want to accomplish.
Often the limiting factor for such individuals is not money but time. Having to spend most of one’s effective waking time making widgets and filing forms for WhoCares, Inc. is thus an extreme sacrifice. Sacrifice is all relative to one’s values.
It may be that they love their job. I used to love my job but after 4 years in grad school and 5 years as a researcher I just couldn’t see myself doing it for the next 40 years as well. I wanted to do other things too. On the other hand some manage to love the same vocation all their life. Good for them.
The key to getting this time—for those who want it—is simply to ruthlessly apply the Pareto principle to one’s budget. Often the huge money wasters are big houses and big cars. We’ve therefore been frugal, not by clipping coupons or skimping on toilet paper or whatever the frugal tip of the day is but by eliminating cars and downsizing our living quarters. The big stuff. For us, cars are not status symbols. They’re just a tool to get around in. Houses are not signs of accomplishments. They’re just a place to sleep when we’re not out doing things.
So don’t see it as retirement. See it as financial independence with enough “walk-away”-money so as to never have to sacrifice 2000 hours a year anymore just to make a living. This is full-time living having chosen something to do something else than show up in an office from 9-5 every day. This may involve running one’s own company or enjoying a senior/emeritus position in some company or organization—the key point here is financial independence and the freedom of choice; not “retirement”.
I also acknowledge that “retiring” in this sense makes one fully responsible for one’s happiness and schedule. One will succeed or fail according to one’s ability to be self-driven. This is certainly not for everybody and I don’t want to present it as such. It is as hard as being an entrepreneur; when most probably just want a job. This is also one of the reasons why so few succeed as mentioned in the article.
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I don’t mind fitness posts….but speaking
of that, what ever happened to “Get FIT
Slowly”? There haven’t been any posts there
in a long time…..OOPS! no sooner do I look
back in Reader to find when the last one was,
than I see Mac back at work.
.
.
.
Never mind.
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Peer Pressure can definitely be a big factor in influencing how you manage your finances! Great Article!
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I second Lizzie and the others who said that more fitness updates are welcome. I think the skills and mindset required for success in fitness are very similar to those required for success in personal finance, so fitness updates can be useful when thinking about finance, too.
And hasn’t Crossfit taught you to stop worrying about your weight? I think if you focus on figuring out how to make your body perform the best it can, you’ll end up at your “ideal” weight naturally.
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Posted on the wrong article. Sorry!
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Hi there!
Speaking of CrossFit. GRS was the reason why I tried it. When I read “It works” here, I was thinking to myself: “Just how good it supposed to work, that it justifies $200/mo expense from a guy, who do personal finances blog”.
Sure enough – it really work _that_ good. Thanks for the tip.
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Congrats on the run – I have always been a pretty active, in shape person – but never ever a runner. I ran my first 5k last fall and was at like 32 minutes or something, and I was happy – so be proud of your time!
I also want to echo the support for fitness and travel updates periodically (and garden project!)- it makes your blog personal and keeps us aware that there’s a human behind the stories – which is what a blog is all about.
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Great job on the 5k, JD. I’m shooting for my first in May which is quickly approaching.
Thanks for highlighting Jacob’s article…as a long time ERE reader it’s nice to see him get some recognition. You should really review his book sometime!
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Congratulations on your 5K. Your time was no joke. As a fellow frugal Crossfiter I really do enjoy your fitness posts here. Good luck on the first open WOD.
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I organized 5ks for a non-profit I used to work at, and I assure you that 24 minutes is more than a respectable time. That’s actually really good! Plenty of in-shape folks I know can’t run that fast. Kudos to you
My goal is to someday break a 10 minute mile. I still sit somewhere in the 11-12 minute range. Mostly because I have continual trouble keeping the momentum in my run training.
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I love these posts as well (you gotta be well rounded, you know!) and I joined a CrossFit gym five months ago and love it so was curious (and maybe I’d just missed this in another post) – are you still doing the Primal diet (did you add back in the grains & legumes that you had mentioned in the last post I’d read)? Our gym endorses Robb Wolf’s Paleo Solution and I’ve been reading the book, and while I get it – I’m having a hard time imagining being totally grain free so was curious as to how that worked for you?
thanks for the update & great time on the 5k!
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Well done, JD! I have yet to break 30 min, so I’m super impressed with your 24 min time.
I’m definitely in the camp that says “I don’t want to retire. I want to find things I love that sustain me financially and do them forever.”
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I love the retire early articles not because I want to stop working, but because I know I will be forced out eventually. I’m in the technology industry which tends to lay off people above the age of 50 to hire fresh college grads.
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First of all, congratulations on your run!
The Extreme Savings articles were fascinating, but I had one problem with them. All of the articles assume you make 50k+ per year. It is very possible to live on 12k per year – I managed it in my university days. But for the person who is in the first 5-10 years of their career – I don’t see how it would be feasible to live on 6k-8k per year and keep a job that pays $27-33k per year. Even entry level jobs expect you to be well groomed.
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@Lynn – I did it. I have spent 5-7k/year for the past decade while earning $20-22k as a grad student, 40-42k as an academic researcher, at 67k at a national lab for my last two years of work. Here’s a link to some journals with others doing it. http://forum.earlyretirementextreme.com/forum.php?id=9 Have you learned to cut your own hair yet? (It’s not hard). What’s the efficiency of your wardrobe; does everything fit with everything else? Do you avoid fashion? Are your shoes repairable or do you have to buy new ones?
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@EarlyRetirementExtreme – thanks for the response! I will head over to your forum.
I don’t cut my own hair – but I donate it to Locks of Love which is a free professional cut.
Wardrobe & fashion – I do follow both (i work in the fashion industry) but I have a well edited wardrobe. Shopping is a hobby for me – but it is a very profitable one. I scour consignment shops, charity shops, rummage sales – I purchase high quality vintage, and then sell it for a significant profit.
I mend and tailor my own clothing, and repair handbags. I take my shoes to the cobbler.
If I didn’t need a roof over my head, I could live on $400 per month during the winter for utilities, food, and the occasional used book.
But, a studio apartment near my work is still 900 a month. My mortgage is only a few hundred over that (and I can grow my food to cut that budget line item)
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