I was recently talking with a colleague who said he was close to retiring. Gil (not his real name) is in his early fifties and slightly quirky. He’s the type of guy who marches to the beat of his own drummer. Although he works for a large, corporate-think company, he sports a long beard and tattoos. He’ll freely talk about politics and other matters that most folks would shy away from. With his wife, he lives in the country – far away from the hustle and bustle of society.
It had been a while since I talked with Gil so his mention of retirement was exciting. I told him congratulations. He said he was more than ten years ahead of what society had scheduled for his retirement, mostly because he’d been debt free, including his home, for many years. He’s got a rental house which has some debt on it, but that payment is being covered by someone else.
I loved hearing he was free of consumer debt and asked him what led him to that point. Almost everyone who is debt-free has a story about a moment of awakening to the soul crushing weight of financial liability. Gil said he got himself into a position to retire, based upon some advice he was given when he was young. Gil said once he fully grasped that concept, his life changed.
Being on a quest for knowledge that can help me grow, I immediately asked, “What was it?”
The advice, he said, was, “You don’t buy things with money, you buy them with time.”Read More