Good morning! Today, I’m excited to share a guest post from The Outlier Model, where they discuss their unique financial choices. If you’re interested, you can also check out my guest post there about affordable holidays on the US West coast!
The Outlier Model is a personal finance and lifestyle blog centered on the idea of “living life a little bit differently.” It suggests that success comes to those who take a different path from the norm. The blog covers topics like budgeting, life hacks, and smart shopping, using a mix of personal stories, practical tips, and insightful commentary to guide readers on how to rise above the average.
When Brian and I visit family, my mother sometimes says, “Now that you guys are making good money, you can start saving up for a house and a car.” Similarly, Brian’s dad might comment, “Now that you have a good job, you’ll never need to do another job interview!” These are common sentiments, reflecting the typical North American life plan: get a job, get promoted, and buy things. No one wants to keep changing jobs, relying on public transport, or always hunting for grocery deals.
But that’s where our perspective differs. Brian and I don’t want to settle for an average life because average outcomes aren’t appealing to us. Statistics Canada says the average Canadian retires at 62, and often with less than $100,000 saved up. This assumes that most people are willing to work for over 30 years. That doesn’t sound great to us.
Choosing not to be average puts us outside the usual curve. Some see this as mediocrity, while others see it as extraordinary. It’s all about perspective, and that can be challenging.
For instance, Brian and I don’t own a car. Some might think we’re too cheap or can’t afford one, suggesting mediocrity. But for us, it’s an accomplishment—we reduce our environmental impact and save over $200 a month, not counting possible repair costs.
We also spend just $200 a month on groceries. My family thinks we’re depriving ourselves unnecessarily, and co-workers wonder if I’m underpaid because I bring lunch from home. These are views of mediocrity. However, we feel we’ve succeeded—we enjoy healthy, homemade meals and save money.
These might seem like small sacrifices. Using a car-sharing service isn’t as convenient as owning a car, and spending less on groceries means fewer indulgences like steak or lamb. But we save a lot by doing these unconventional things, like living in a small condo and renting out our larger one. We also make extra money by seeking new jobs, taking on side gigs, and being somewhat entrepreneurial. All this effort supports one goal: financial freedom.
Think about those statistics we mentioned earlier—working into your 60s and having less than $100,000 for retirement. That’s our motivation. We believe minor inconveniences now are worth it to avoid a lackluster retirement, or worse, being unable to retire at all. We’d rather work hard now and save through frugality, job hopping, or smart real estate investments to achieve an “above average” retirement.
For now, we might seem less successful in terms of convenience or possessions. We likely won’t stay at any job for more than a few years or live in one place for too long. We’ll probably eat a lot of rice. And that’s okay—we believe we’ll ultimately reach the extraordinary side of early retirement.