Yea the commute is a big one for me...it's 2 to 3 hours total round trip. It really cuts into my time and I have 2 little ones too. I feel like my life is wake up, drop off kid, drive to work, pick up kid, dinner/shower, maybe some chores. I'm spent by the end of the day and I feel like everything is rushed. I don't get to enjoy quality time with the kids and wife.
Good tips! Like Jodi said...I think many people know the secret, they just fail to take action. While I've always been frugal and invested my earnings, I really should have ramped it up earlier.
Starting early is a great tip. At first, it doesn't feel like much but compounding really works it's magic. People who don't even contribute to the match in their 401k are giving away free money. As for a financial planner, I have never used one but it may be right for some. Personally, I think it's important to find a fee based financial planner...I think they will more likely have your best interests. If a planner works for commission and is trying to sell certain products, there is definitely a big conflict there.
I know many people who measure success by the things they have. It's not even ranking them by net worth because many people with all the wonderful materialistic things have negative net worths...they just have a perceived high net worth because of the things they have. I like your definition of success.
I see financial freedom in about 10 years, but sometimes I'm not sure. I don't have a concrete plan since 10 years is still a long ways away, but I can't imagine it hard to find something that I'd enjoy doing. Just curious...do you plan on staying in the NYC/NJ Metro area? It is one obstacle that I envision...FI would be much easier if I planned on moving to a lower cost area.
Great point. A co-worker who COULD retire does not want to (work in government and has full pension). Apparently the mindset is that working keeps the mind sharp and they wouldn't know what to do with themselves with all that free time! Huh?! I feel like I have no free time...I wonder how I have time to work! =) But there is some truth to it...when you've had that routine for so many years, you need to fill the void. But you listed a good amount of things that are much more productive and enjoyable.
I'm definitely a saver...my wife balances me out. While she is pretty frugal and does look for deals...she does get me to live a little.
Back in college, one of my friends wanted to slap a Mercedes Benz emblem on a Hyundai to trick others that he was driving a luxury car. These days it seems like buying luxury cars is very doable for even those who can't afford it. It's always about the monthly payment and the dealerships have stretched it out to 5-7 years making those monthly payments APPEAR affordable.
Yea, housing is very expensive here in the northeast. I definitely don't think homeownership is a must like many in the media argue, and that renting is perfectly fine. Especially when you're young and you don't want to be tied down to one location. But for me...buying a place, though it's a co-op, made financial sense since the cost was comparable to renting.
Yea...those seem to be the usual reasons people use for not saving...YOLO...FOMO. There's no patience and everyone wants instant gratification. And another problem is that people falsely believe that spending tons of money is the only way that can be happy.
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livingrichcheaply 
Brainchild