Did Somebody say Joe or was it Faith?

Duchesse · #1 (**permalink**) 09-16-2006, 07:22 AM

On page 831 of The Complete TightWad Gazette author Amy D. mention in an article entitled "the Unemployment Opportunity"

Your Money or Your Life:Transforming Your Relationship with Money and Achieving Financial Independence (Penguin, l992. by Joe Dominguez and Vickie Robin

Has anyone here read the book? I've read the comments on Amazon but I want to know if anyone here has read the book firsthand or has anyone here implemented what he proposes.

Financial Independence, that is living solely off of your interest/dividends generated from investment of your capital. Of course he advocates a bought and paid for ranch style home.

I have been considering this "opportunity" for quite some time now. Although I don't have the million I would have liked I have enough faith in my abilities to believe that I can live off of the interest that my capital would generate. I am also planning relocation to facilitate same.

Has anyone here taken this leap of faith?

Bookie · #2 (**permalink**) 09-16-2006, 12:04 PM

Read the book years ago. I found it an interesting perspective, but I was never interested in implementing the program outlined.

LuxLiving · #3 (**permalink**) 09-16-2006, 12:54 PM

Duchesse I've read the book - been about four years ago now. Haven't got it all together yet, but I'm getting there.

Here's a neat calculator to see just how much income you can draw monthly out of your nest egg and make your money last a lifetime. Mine is not enough! But w/SS it will be a nice little buffer, but still NEED more capital!!

http://<a href="http://www.tcalc.com...&Slv Fr=4</a>

Duchesse · #4 (**permalink**) 09-25-2006, 07:39 AM

Quote:

Originally Posted by LuxLiving

Duchesse I've read the book - been about four years ago now. Haven't got it all together yet, but I'm getting there.

Here's a neat calculator to see just how much income you can draw monthly out of your nest egg and make your money last a lifetime. Mine is not enough! But w/SS it will be a nice little buffer, but still NEED more capital!!

http://<a href="http://www.tcalc.com...&Slv Fr=4</a>

This link is not working. Any other links to find a calculator like this would be greatly appreciated. Once I get an idea of what type of monthly income I will have I can make a more informed decision about when to take this

LuxLiving · #5 (**permalink**) 09-25-2006, 10:26 AM

try here:

http://tcalc.com/

Mathew Green · #6 (**permalink**) 09-25-2006, 10:00 PM

Lux, I've mended your original link. This version should work.

http://www.tcalc.com/tvwww.dll?Spend...dv=0&Slv Fr=4