Work Hard Play Hard

I have a great friend who is really good at making money.  He’s not an overnight success or the inventor of some app that set him up for life. Instead, working hard and being willing to take risks is a calling card for him. He works long hours and is always looking for the next step to lead him to success.  Over the last few years I’ve watched him and his wife move companies and countries in order to climb the career ladder.  Each step has gotten them closer to where they want to be financially.

I see pictures of him and his wife eating out at nice restaurants, drinking fancy coffee, or having a cocktail in some seriously kick-ass locations around the world.  He’s living the life. Work hard.  Play hard.

I don’t know how many times I’ve heard him say he wants to work hard so he can play hard but he absolutely lives his life this way.   I have no idea how much money they make or how much they save, but it’s clear they’re not planning on waiting around until retirement to start enjoying the finer things in life.

They aren’t wasteful with their money. They’re very purposeful.  They work hard and then use that money to fund their passions: traveling, dining, and luxuries.

Work Hard Play…Frugally?

In contrast we drive a 2009 reconstructed Honda Fit we bought off Craigslist for $5,000.  It’s by far the newest and nicest car I’ve ever owned.  It’s not the nicest car Mrs. Burrito Bowl has ever had.  Come to think of it, it might be the least fancy car she’s ever had.

We rent a tiny apartment above a garage that we get for around $1000/month, utilities included, and we rarely eat out.  We’ve been on two tropical vacations in the last four years, one being our honeymoon.  That puts my lifetime total of tropical vacations up to…two.

We also love to travel and desperately want to see all the world has to offer. We love food and dining out.  Neither one of us is passionate about our careers and would both prefer to not have to work.  In exchange for our frugal lifestyle, we are building our nest egg. A nest egg will give us the security and freedom to live the life we want without worrying about money or work.

Which Way of Living is Right?

Is it my friends who get to enjoy life and see the world now when they’re young or is it us? They have no plans to retire early.  They plan to continue to work to fund their lifestyle.  Our lifestyle isn’t nearly as instagram worthy, but with any luck we’ll retire by the time we’re 40.  We are saving our pennies for a brighter and longer tomorrow.

What if something happens to me or my wife and we can’t travel later?  What if the market gets decimated and we lose everything?  Will we regret not traveling now?  Maybe.  But it’s a risk we’re willing to take.

What if something happens to him or his wife and they’re no longer able to earn the income that fueled these trips and instagram worthy memories?  Will they regret not putting all that trip money away into retirement accounts?  Maybe. But that’s a risk they’re willing to take.

Living Life is Risky Business

I’ve talked with my friend about this.  For him, work hard play hard is 100% the right move.  He’s passionate about his career and wants to climb the ladder.  He wants nice things and he’s earning it.  I couldn’t be more proud to call him a friend.  Him and his wife are great people.

For us, pursuing FI is 100% the right choice.  We don’t need, or even want, a lot of the fancier things money can buy.  I like a good beer and a good whiskey but I would feel weird drinking a $200 bottle of whiskey.  I would rather have a $20 bottle of whiskey and the freedom to spend a Tuesday morning however I see fit.

Some people have the income to travel and enjoy the best of life now and still save a boat load to retire early.  We don’t have that luxury so we have to make a choice.  Our income lets us afford several vacations per year, coffee with shapes in them, and maybe even cufflinks.  We tend to not spend our money on any of those pursuits. Instead, we are choosing to live a comfortable, but not extravagant, life now so that in a few years we can travel and live a life of freedom for the rest of our lives.

Finer Things vs. Retired at 40

We all have to make choices in how we want to spend our lives.  It comes with a huge risk either way. Maybe your skills aren’t bringing in as much money as they used to and you don’t have enough saved to retire. If you don’t save enough now you risk still having to work when you’re seventy.

On the flip side, if you wait to experience the life you’ve always wanted, you risk that day never coming.  You risk a catastrophe sending you back to square one except, unlike my friend, you won’t have the memories of all those trips you were waiting to go on.

If something happens to either myself or Mrs. Burrito Bowl in the near future we’ll have wished we would have spent the last several years traveling the world and not working so much.  Assuming the worst doesn’t happen, we’re really glad we decided to take the FI path.

You could make a strong case that even if something catastrophic happened to us we’d still be happy we pursued FI.  The daily lack of stress we feel about money  has been such a de-stressor it’s almost like we’ve given ourselves a permanent mental vacation in that area of our lives.

The low-grade stress I always had about having enough money to pay bills and get groceries is gone.  That alone has made it worth the pursuit.  Everyday we wake up with the hope that all our hard work is buying us a relaxing future.  For us, going to work everyday with a plan to escape is way better than going just to pay off last weekends binges.

Related: Why Pursue Fi

Related: Financial Independence- The Freedom to Choose

Which Side Are You?

Most people will have to make a choice. I think both choices are perfectly acceptable as long as you understand the risks and know yourself.  My friend and I both know ourselves so we’re comfortable taking the risks we’ve chosen.  The important part is figuring out what side of the coin you’re on.

Be intentional. If you love travel, love work, and want to spend your money now, great.  Do it.  Travel and see the world.  Save up your money for something you will find value in.  Make sure you’re saving enough for your later years when you may not be able to work as much.

If you want to reach FI and travel later, great. Do it.  Be smart about what you choose to spend your money on.  Find the major expenses in your life and see how you can trim or eliminate them.  Don’t waste your money on daily tidbits that don’t bring you lasting happiness.  Find what brings you joy and keep those things in your life.  Achieving FI isn’t a sprint, it’s a lifestyle.

Ask yourself if you want to achieve FI sooner or if you’d rather be a work hard play hard type of person.  There is no right answer, it’s all about you.  Just be intentional about whatever it is that you choose.

If you want to learn more about the FI lifestyle out these articles:

Financial Independence- The Freedom to Choose

Why Pursue Fi

If you want to get a quick rundown on how to start investing check out this article:

Investing 101- How to Invest When You Don’t Know Where to Start

If you enjoyed this article please share it with your friends and enemies