Friday reads – volume 7

And here are this week’s lineups…

1000 Days Without A Paycheck (Mr. Tako Escapes) 

“Just like learning to swim, you fear the water until you’re experienced enough to know that you won’t drown. It takes time and practice to become a good swimmer, and feeling comfortable with financial independence is like that too.

You have to learn how to swim in the waters of life without a paycheck. That paycheck is like a pair of floaties — holding you up out of the water. Until you take them off, you won’t learn to swim.”

One of my favourite bloggers in the FI space, Mr Tako shares his thoughts after making it to the 1000th day without a paycheck. Read about his life and thoughts after early retirement.

How to Deal with Unsupportive Family and Friends on Your Way to FI (Millennial Revolution) 

“When it comes to facing haters on your way to Financial Independence, don’t worry. The more confident you become, the less the haters matter. In fact, you even end up converting them from haters to supporters when they see your results, stop being defensive and become curious instead.”

In The road to financial freedom, I shared about how my mum was aghast by the idea when I told her that I was contemplating early retirement. Well, I am not the only one in this plight. Like what Firecracker shared on her blog, this seems to be common with Asian parents. After all, they are the generation that grew up with hard work and seeking FIRE was literally unheard of. But hey, sometimes, action speaks louder than words. And I certainly can’t wait for that moment.

The 30/30 Rule (The Minimalists) 

“If something I want costs more than $30, I ask myself whether I can get by without it for the next 30 hours. Hence, “the 30/30 Rule.” (If it’s $100 or more, I tend to wait 30 days.)”

That is an interesting concept. Personally for me, I normally judge my decision to spend based on the “one dollar for each utilisation theory“. Dave though, typically based it on the real value he has to do so using the purchasing using his real hourly wage method. Whichever theory works. What about you? How do you control your impulse buys?

Why do men want flashy cars and designer clothes? It’s hormonal (Quartz) 

“Men’s desire for sports cars, expensive watches, and other luxury items may have deep roots in chemistry. A study of 243 men between the ages of 18 and 55 found that those who got a dose of the male sex hormone testosterone responded with an increased preference for status-signaling goods.”

As with most research reports, I normally take it with a pinch of salt, especially since there tend to be caveats with the findings. But interestingly, it seems to suggest that showing off high-status goods is the human equivalent of the showy evolutionary adaptations seen in certain male animals, such as the peacock’s huge and colorful tail or the incredibly large and heavy antlers of a stag.

Keeping Up With the Joneses: Neighbors of Lottery Winners Are More Likely to Go Bankrupt (Bloomberg) 

“The larger the dollar magnitude of a lottery prize of one individual in a very small neighborhood, the more subsequent bankruptcies there will be from other individuals in that neighborhood.”

So apparently there’s a study conducted somewhere in Canada if keeping up with the appearances Joneses will break us. It did for some, according to this study.

And here’s a quote to round up the week.

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