The Other Ben and FIRE, or One Final Note About Income

Do not wait; the time will never be 'just right.' Start where you stand, and work with whatever tools you may have at your command, and better tools will be found as you go along.

“What’s your FIRE number?” I asked.

“$600k CAD. And yeah, it’s based on my spending when I was in Vancouver. $24k CAD.”

We both knew Unconbentional was wrapping up, so Ben and I were having one last chat on Facebook Messenger. I couldn’t help but feel dwarfed by his success, but I was also happy a peer had made it as far as he did. In his updates, he told me he’d switched companies and was now working in One World Trade. He sent pictures. The view was spectacular.

I think he caught the tone of my recent posts though. I certainly didn’t feel very successful, though I was apparently okay at setting goals and making progress. That was better than nothing, I posited. Ben typed back.

“Mostly I’m just saying, don’t be too hard on yourself or too impressed by me, since I don’t feel like I’m being very disciplined. But also, it shouldn’t be about discipline very much anyway; mostly it’s figuring out what you actually value.”

He sent numbers. His spending was up, but he was saving 55% of his income to reach FI. Moving to NYC for a better job helped him double his monthly savings, but I was surprised to see he was spending more than me after converting USD to CAD. He wasn’t “thrifty”. Meanwhile, I was saving a comparatively paltry $250/month, but I’m not making six figures a year.

“A huge part is earning a lot,” he said. “You have much lower expenses, but like… having a high salary really makes it easier. I think I’m still on track for my goal by 33.”

We said our goodbyes and I signed off. I wouldn’t see him in person again for at least a few months, but it was nice knowing I could always get him in a chat box.

Ben will reach FI at 33. I’ll never retire, but I’ve learned that’s okay. We were on different paths. And yet, for three brief years, we were able to meet in the middle. We had the blog. It made us better friends, and I’ll be forever grateful. To YOU though, thanks for joining us on this ride. Coming up with new ideas to blog about made us better people and more financially savvy. We wouldn’t have done it without you. I hope I’ve helped.

But wait! One final thing needs to be said, and this might be the most important piece of advice yet if you’re pursuing FIRE. Read on, and goodbye.

*****

Income matters a lot. The best thing you can do to guarantee financial success is to earn as much as possible. I know that sounds super obvious, but consider BC’s average hourly wage for 2018 is $26.76. Now, look around. I know Ben, but I also know people working for minimum wage. My liquor store job pays me $14/hour, and I’m only able to make that work with other sources of income. I should aggressively seek a raise or find something better paying! Your wage is your responsibility! In a world where dropshipping or blogging can make enough for a person to thrive, the Internet has given us a level playing field and you should use it! Here’s 50 jobs over $50,000 without a degree. Guess what: Ben doesn’t have a degree either. He learned everything he knew from the Internet.

Think of the Internet as your ever-present personal employer; one that works for you around the clock as an endless source of money as long as you do your part. Use it to look for a better job. Do what I do and find clients for your side hustle. (I sell wedding photography packages up to $4,995/day.) Network with productive, frugal, financially savvy people. Learn how to boost your income!

It’s possible to get there by saving – read this on how to live in Vancouver on $18,451 for 2 – but you’ll always kick more ass as a higher earner. Ben gave me permission to publish his 2018 spending: $44,278.98 USD, and that’s for one person in NYC! The people in the link above, Steph and Cel, can live for 3 years together on Ben’s 2018 spending, and Ben’s still banking 55%! (FYI, a large portion of Ben’s recent spending has been for travel. $7,607, to be exact.)

Go to Google and look up the average salary in your area right now. Now, match it. Exceed it if you want. We’re playing for keeps. If you’re there already, go ahead and push a little further. A lot of us are too comfortable where we are because we’re afraid of change. I’m here to tell you if you’re reading this, you have Internet access and thus, all the tools required to substantially increase your income and savings rate.

If you’re finding it difficult to save, don’t relax. Not yet. I’m following up on wedding leads and asking the right people about furthering my liquor career, and it’s my “day off”.

Don’t get comfortable. Keep climbing. Work harder if it’s healthy for you to do so. Increase your income. You can control how much you save, but Ben lives a big life and banks cash like a champ. Do you want to be him… or never retire like me?

In three years of Ben vs. Ben, there’s been a clear winner.

Thank you for reading Unconbentional.

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