Mindset to Thrive

Lately, I’ve been struggling a little bit with the transition from paid employment to FIRE.  I’m used to not having to think about money rather than trying to make our savings last forever.  I came across a helpful post from Financial Samurai, which discussed abundance and scarcity mindsets.  I realized that I’ve gone from an abundance mindset to the scarcity mindset.  I don’t want to have to scrounge every last penny like a survivor of the Great Depression.  Instead, I want to thrive because I have a positive mindset about what I can accomplish.

Going forward, I’m going to brainstorm ways to maintain an abundance mindset while living a fulfilling life.  I don’t want to become lazy and unmotivated in FIRE.

7 thoughts on “Mindset to Thrive

  1. I just want to wish you good luck in finding ways to thrive. I’m not sure whether I completely agree with Financial Samurai – to me it seems more like he’s hoarding money – but to what end?

    But I think you personally have now found yourself with an abundance of choices, and that can be scary and perhaps difficult. I always joke: if you really really don’t know what to do anymore with all your free time, then you can just donate all of your money. Then you have to work again to earn a living. Problem solved.

    Hopefully you find a better solution than that, but remember it as a last resort. 🙂

    • Good points. I don’t always agree with him either. Maybe this post stuck a chord because we come from somewhat similar backgrounds and we have been exposed to the ying and yang of abundance and scarcity. But that’s only looking at a single dimension — money. Obviously there’s a lot more to thriving than that, otherwise I’d be better off practicing law again. I suppose my need for security is crying out now for some reason. Maybe it is the thought of the uncertainty of having kids based on a nest egg designed for a couple.

  2. I had some bouts with that scarcity/fear/anxiety bug quite a bit after I retired. In my case, I found that the best solution was to immerse myself with people that actually do live in scarcity.

    Or rural town has a medium income of just over $30k, most families we know have 2 wage earners working full-time. These guys know what hard work is, and don’t dream of retirement. Additionally, my wife and I have finished 30 hours of training and are now ready for our first foster child. Stuff like this completely erased my fear of scarcity, now we’re fully aware of how blessed we are.

    I’ve also spent time in places like rural Nicaragua and the slum towns of India. Seeing people actually in danger of starving right in front of you changes perspective.

    Obviously these things aren’t for everyone, but my wife and I can see a transformation in our family the farther we get away from choosing to worry about money, and the closer we get to being truly generous with everything we have (money, time, experience, etc).

    Full disclosure: I’m neither altruistic nor selfless. I want be, but I’m a far cry from it. I’m just mentioning this in case my post infers otherwise. I’m a work in progress…

    • Thanks for sharing your experiences. It sounds like you are really making major changes! Also sounds quite scary based on where we are so far in our journey. How did you decide you wanted to live in your town? Do you feel like fish out of water? Same with the foster child — aren’t you worried about getting a really troubled child that is beyond your ability (not sure if you already have experience with kids)…

      • We choose this town based on proximity to family, property prices, availability of real acreage, and the quality of the school district. It’s not easy to find good schools where you can also buy farming land at a reasonable price…

        As for fostering, that’s just something we felt inspired to do. We have two biological kids, but now that they both go to school all day we have plenty more time and energy to help out the growing population of kids with nowhere good to go. It’s definitely not for everyone but if you find something like this that inspires you, I suspect any feelings of scarcity you feel will make away.

  3. Pingback: Seeds of Doubt? | Thoughts of an Anonymous Lawyer

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s