I live in a 585 square foot studio. I get the majority of my groceries from a large chain, discount grocery store, where I spend approximately $40 per week on food. On average, I go out to eat once a month. I rid myself of my 2005 Nissan Sentra last July, which, in my mind, may have been one of the best decisions I have ever made given my city’s vast public transportation system and the current ride-sharing landscape, perfectly-priced for the Chicago yuppie.
However, by America’s standards, I’m lacking—I simply do not have enough—enough of the “comfort and joy” of having a large 3 bedroom, 2 bathroom home; the newest, fastest, battery-operated cars; the high-end organic food from that “oh so expensive organic food retailer” (by the way, I want to set the record straight—eating organic does not automatically make you healthy, America); and all the finer “things” that money can buy. By the ultra-consumptive standards of America, “I’m just not living (i.e., consuming) life to the fullest.” But that is far from the case.
What more do I need? I have my food, a kitchen to make the best meals in town, a nice futon to sleep on, the best books money can buy, and clothing. I live in arguably the nicest neighborhood in Chicago, just steps from Lake Michigan and my big box gym. I have both a loving family and an inexplicably loyal girl that believes in me and my mission. I have 3 extremely close friends from different walks of life that I can turn to at any time. I have my health and I maintain my mind and body to a supernatural degree. And the icing on the cake—I boast a 70% after-tax income savings rate.
By all accounts, I’m lucky—I already have everything that anyone could ever want!
My insanely-high savings rate makes me feel like a king for the following reasons:
- If any one of my 4 parents had a big emergency, I could lend them a couple thousand dollars without hurting me one bit.
- If I wanted to take a blowout vacation of a lifetime, I could do it.
- Given my current lifestyle, if I wanted to quit my job right now, I would have no problem covering all of my expenses for 2.5 years.
- If I wanted to put another down payment on a multi-unit property on the northwest side of Chicago where I grew up, and have a couple relatives live in said property, I could do it. (Side Note: I am waiting for the Chicago real estate market to cool, as I know there will be more value to be had for less money than if I were to purchase in the current real estate market)
But I choose not to do any of these things because, at this current moment, I am completely content with the lifestyle I have.
The beauty of living like a pauper and saving like a king is having OPTIONS. That, alone, will make you feel like royalty.
And that, in a sense, is freeing.
Living like a pauper and feeling like a king is all a mindset that you can construct. You can construct and visualize and make your life anything you want it to be.
But ladies and gentlemen, although I said I was content with my lifestyle, I am still not satisfied.
You see, I find satisfaction in being able to do more with less every single year. For instance, I strive to push around more weight with less body mass (i.e., the perfect goal for being a jacked and shredded freak-of-nature), and I strive to spend even less money than I spent the year before, while developing an additional income stream apart from my normal day job—an income stream in which I add value and open the eyes of the masses to a life opposite of ultra-consumption—one of optimizing health and wealth. This is my ultimate mission in life.
I will develop that additional income stream and spend even less so that I can save and invest even more of my after-tax income. In order to increase my current 70% savings rate to 75-80% by next year, I’m going to have to grind. And that gives me purpose, one of the greatest joys you can ever experience.
I am not satisfied because, although I’m not renting my 585 square foot studio, I do not yet own it outright—I have a mortgage, which means that the bank still owns it. However, I’m fortunate to have positioned myself to begin building equity at the age of 24.
I’m not yet satisfied because I’m well aware that as long as I’m working on behalf of someone else’s interests (i.e. shareholders/partners), despite making a good salary, I’ll never really get paid my true value for the time I exchange in my job as a CPA. Thus, I intend to attain complete financial independence (i.e., approximately 25x annual living expenses covered) by age 35. I’m also aware that there are much better ways to get paid—the best, in my opinion, is owning my own business.
I’m not satisfied because my queen-sized bed is taking up precious space for the mini gym that I will build within my 585 square foot studio. It will be the fitness studio within the sky, complete with a breath-taking view of Wrigley Field, Lake Michigan, and with my personal touch. All I have to do is get rid of the damn bed.
You see, my residence is also the location of Unleash & Empower LLC headquarters, where I will teach the approximately 9 million people strong Chicagoland market the most effective methods to get in-shape and shredded. I will teach people how to prepare the most cost and time-effective meals. Delicious meals. In fact, I already envision my remodeled kitchen, ready to show my clients and the masses, in real time, just how easy it is to live the lifestyle.
And this is the beauty of making it a habit to save 70% of my after-tax day job income—so I can seriously consider investing in something as crazy as high-end, commercial-grade gym equipment to change lives within my 585 square foot headquarters—what will be known as the “mini gym in the sky.”
We live in a world of abundance, and all we have to do is take advantage of it. Just as I will myself to a better physique every year, I will myself to a better life by being content, satisfied, and grateful for my current life that is free from ultra-consumption. But at the same time, I am always moving forward—striving for more, seizing opportunity, and getting my message out to the world. I will continue to invest my time, energy, and, when appropriate, my money, into myself, my family and closest friends, and my mission. All while I enjoy living like a pauper and feeling like a king.
Chicago, IL – February 2017