Long, long ago — before Get Rich Slowly was even a gleam in my eye — I was a fan of Wendell Berry and folks like him, including Gene Logsdon, “the contrary farmer”. In fact, I have a copy of Logsdon’s The Contrary Farmer here on the shelf beside me. It survived my recent purge of financial books (about which more next week). Well, turns out Logsdon has a blog called The Contrary Farmer now.
My friend Craig recently forwarded Logsdon’s rant that we should all stay home and make some real money. He writes: “The farming and gardening way of life offers the opportunity to save a lot of money just by staying home. And you won’t have to pay a cent of income taxes on it either.”
Logsdon is arguing that we spend less (and have opportunities to make money) when our attention is directed inward, at our families and homes and gardens. But when we turn our gaze outward, even if it’s just for a quick trip to store, we drain money from our bank accounts (and, thus, time from our lives). This is a fascinating contrast to my current state of mind. It’s food for thought.
Logsdon isn’t the only financial writing I’ve enjoyed lately around the web. Here are some other pieces I’ve liked:
First, Five Cent Nickel recently asked, “Does early retirement make you live longer?” Nickel stumbled upon a study [PDF] that concluded “for every year one works beyond age 55, one loses two years of life span on average.” If you retire at age 50, you’re likely to live to 86. If you retire at age 65, statistics show you’ll live to only 67. Obviously, these numbers are only statistics and there’ll be lots of anecdotal instances to contradict the numbers. (Plus, it’s silly to play the “extreme statistics” game — “If I retire at nineteen, I’ll live to be 120!”) Never mind — this is a falsehood that has been around for years, apparently.
Lately, I’ve been consumed with the idea of living in a home with less Stuff. GRS reader Megan knows me pretty well, I think; she sent me a link to an Apartment Therapy article about one man’s furniture-free life. I’m not ready to go that far, but I admire this photographer’s ability to see what is and what is not important in his life, and to construct a home around this knowledge.
I’ve written many times before about the financial struggles of athletes, celebrities, and others who find quick wealth. A GRS reader names C. Rivers sent me another story on the subject. National Public Radio recently featured a story explaining why for some athletes, financial success is short-lived. From the story: “Most very wealthy people, be they CEOs, entrepreneurs or financial professionals, deal with finances as a major component of their jobs. But athletes and other entertainers can acquire great wealth without having a clue about money.”
Finally, I liked this observation from Jonathan Fields: Everyone wants better; no one wants change. “Everyone wants to own the result,” Fields writes, “but nobody wants to own the process.” In other words, people are eager to have the good stuff in life, but they’re not willing to put in the effort required to actually achieve it. This reminds me of my own rant about the importance of action not words.
This article is about Spare Change
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The statistics in the article from fivecentnickel are not true. Its a myth. The numbers are allegedly from Boeing Aerospace and Boeing has publicly stated that they are false.
See:
http://www.boeing.com/companyoffices/empinfo/benefits/pension/seminars/Rumor.pdf
“An incorrect, but alarming, chart that claims to show the life expectancy of Boeing retirees has been circulating on the Internet. According to this chart, Boeing employees who retire at 65 die much sooner than employees who retire at earlier ages. Even though this chart has been in existence for over twenty years, it is not based on fact. There is no correlation between age at retirement and life expectancy of Boeing retirees.”
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Thank you, Jim. You rock!
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What a relief to hear that it was false facts. I early retired and it had me concerned when I hear these statistics a few weeks ago.
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Congratulations on the TIME best for 2011. Its well deserved.
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Can I be a contrary something?
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Tyler, you are a contrary EVERYTHING!
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Ooh, ooh, The Contrary Farmer is one of my all-time fave books too!
Logsdon is a fabulous read. He knows his stuff through and through — he lives it, and has been writing about it for decades with his no-nonsense, but plenty-of-fun style. And his sense of humor is delightful!
He’s written other books over the years, some very useful but out of print (Practical Skills is one that comes to mind), some more recent (Holy Shit [I'm serious, that's the title], and Living at Nature’s Pace).
So glad you mentioned him here. His writing is all about getting rich slowly…I never thought of it as GRS material before, though.
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I must be contrary to the contrary farmer. I find that I need a balance to spend less: focusing on things outside (my friends, community, etc) and inward (house and garden). I’m just a more engaged person and don’t spend to fill a void. To each his/her own.
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JD, You had it coming! TIME knows a good thing when they see it.
Even in my advanced senior years with hardly any income at all, I find much on the GRS site to help me.
Keep up the good work.
A fellow Oregonian
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Thanks for the link to the guy who lives without furniture. I am looking for somewhere to live for my next year at university, and with London rents so crippling have been entertaining the idea of renting an unfurnished apartment to save a bit of cash. Getting a mattress home from IKEA on the tube could be a challenge, but there are loads of wooden pallets, plastic milk crates and pieces of office furniture left out on the street everyday that I’m sure, with a little imagination, I could turn into something amazing…
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I think you can do it Ru. Ikea packages some of their mattresses in a roll form, so the aren’t too unwieldy. I bought one and it easily fit inside the trunk of a small car but in one giant ikea bag it could probably also travel on the tube.
Very comfortable as a guest bed too.
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Sleeping bags are easy to transport. And if you’re feeling a little creaky, you could put an exercise mat under it.
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Hahaha, good (albeit late) fact checking J.D.
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Let me understand, You work hard, you earn money, then you work harder, earn more money. Again at the same time, you live frugal you save money, you down size further you save more money.
Living below means, downsizing are good thoughts, but, not always practical. What is practical is..spending money on things you enjoy and saving money to enjoy your life till you live. If we can achieve that, I think we are covered!
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WAY TO GO JD!!!!!!!!!!!!!!! Glad TIME sees how great GRS is! I know,personally, GRS is my favorite blog and the comments are a large part of it. But without you JD it would be nothing!
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You know there is a lot to be said for staying at home to save money. I often wonder if I would be better served to stay at home and pursue my online writing business rather than commute back and forth to work and spend money on those expenses, as well as clothing, office parties, and lose out on the time it takes me to travel back and forth (2 hours per day).
Even as I am writing this, I am convincing myself that I am crazy for not staying home and earning money that way!
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I like your quotes by Jonathan Fields. Seems to be so often the case. I don’t like stuff for the sake of stuff either. I call it “stuff-itis.” Congratulations on being named by Time! Excellent job!
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JD, the TIME recognition is beyond well-deserved. I am consistently astounded by the high quality of this blog. There is something interesting and insightful to read every day – especially if it’s a post written by you.
I don’t know how you do it, but please don’t stop. I was so happy to see the TIME accolade, and I hope you get more!!!
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JD,congrats on the mention in TIME! I’m not much of a computer guy, but this site is outstanding. The only time I have ever writen anything to be publicly published has been on this site. You and your contibutors make this site a wealth of information. THANK YOU!
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I don’t understand the lines in the paragraph, why would you post a paragraph with lines running through it?
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That was JD editing. At first that paragraph had no lines through it. The first commenter stated, with a reference, that the facts where false. So JD updated with lines through it. This will let people know that statement is not true but still let people read the original post.
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oh Thanks Lindsay
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Gene Logsdon is a new name to me. Thanks for sharing. I’m going to check him out.
I think we can look outward and inward at the same time–nurturing our home lives and connecting with the wider world.
I have friends who don’t travel much but are very global in their outlook. They participate in couchsurfing.org, a social media site that hooks up travelers with folks willing to share their homes with short term visitors. The whole idea is to make connections.
My friends have hosted visitors from all over the world. And they recently vacationed by couchsurfing with folks living along the shore.
As you’re contemplating your desire to travel and your questions about your home, you might find couchsurfing a fun way to connect with people from around the world–even when you’re not traveling.
Finally, I add my congratulations to everyone else’s about Time’s selection of your blog. I saw the Time article online before you posted the badge on your site and was thrilled to see it.
It’s really great to see a blog that’s so human and real have such great success. You really deserve the kudos for creating not only a blog, but a community.
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Congrats on the TIME mention. You wouldn’t know how much I enjoy this site based on my often-sarcastic comments, but I do.
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It’s about “TIME” they recognized you! (Sorry for the pun.)
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Congratulations on the TIME mention and thank you for introducing me to both Wendell Berry and Gene Logsden. I’d never heard of either, but after sampling the links, I’ll be reading more.
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I’m a fairly new reader (about a month) and I just wanted to thank you for posting this! My husband and I are trying to save for a small farm, and looking at Logsdon’s page, I think he has a similar idea about things as my husband and I do. We’re a long way off from buying our farm – at least 5 years in my calculations, because our finances are a mess, but we’re working on it. Thanks for everything!
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Kristen, depending where you are, you might be able to get some startup help, especially with financing, choosing a site and putting together a business plan for the farm.
In the upper Midwest we have a program called Farm Beginnings for new farmers and farmers transitioning to organic/pasture practices. http://www.landstewardshipproject.org/programs.html#farm_beginnings
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Thanks, Rosa! That’s really interesting. My husband and I live in northern Indiana but we’re from Michigan. We honestly aren’t quite ready yet anyway – we’re not sure where we want to “settle” yet, whether that’s here where we’re at or heading closer to family. I’m definitely going to be looking into programs like this, though! Thank you so much!
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It is amazing how much more valuable saving money can be compared to earning it when you consider taxes. I always find it kind of funny that those who can benefit the most (on a dollar to dollar basis) from cutting spending are the ones who make the most.
Congrats on the Time feature! What an honor
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Yay on the Time best of blogs thingy! I got rid of the last of my books on frugality etc. (even YMoYL and ERE)
through a blog giveaway. I keep the investment books around though since I actually do re-read them occasionally.
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Wow! Congratulations on making the list in Time! You deserve it.
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I can so relate to the suggestion that when we ‘turn our gaze outward…we drain money from our bank accounts’. I recently accepted a second job and we quickly discovered it was the wrong decision for our family. All of a sudden we are spending money on things we wouldn’t have needed when I wasn’t working so much. So we’ve decided that once this contract ends in a few months I will invest in our home and our family for a while. I’m going to work only one day a week (for at least a year) and spend time expanding our food garden and nurturing our home and our health. I honestly believe that at the end of a year of me working only 1 day instead of 5, that we will be financially better off than if i’d continued working full-time.
I’ve just discovered your blog via Rowdy Kittens and am so glad I have. I’m looking forward to following.
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