Going Galt...anyone else doing a personal downsize?

Going Galt...anyone else doing a personal downsize? (Full Version)

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Crush -> Going Galt...anyone else doing a personal downsize? (5/11/2009 11:25:11 AM)
I'm thinking I'll get more out of life spending more of it not chasing consulting dollars anymore, especially with the potential increases in taxes coming. Anyone else considering downsizing their life, going Galt, so to speak, because of trends that you forsee?

DemonKia -> RE: Going Galt...anyone else doing a personal downsize? (5/11/2009 11:59:12 AM)
I suspect we're in very different places, politically, but . . . . . I've been living simply (so that others can simply live) for a long time now . . .. . It's a moral / spiritual & environmental thing for me . .. .. But it does have the side-effect of making my life relatively recession-proof . . . . .

LaTigresse -> RE: Going Galt...anyone else doing a personal downsize? (5/11/2009 12:01:54 PM)
I've never lived extravagantly so I am just going to keep on doing what I've always done.

ThatDamnedPanda -> RE: Going Galt...anyone else doing a personal downsize? (5/11/2009 12:22:08 PM)
quote: ORIGINAL: DemonKia I've been living simply (so that others can simply live) for a long time now . . .. . It's a moral / spiritual & environmental thing for me . .. .. But it does have the side-effect of making my life relatively recession-proof . . . . . quote: ORIGINAL: LaTigresse I've never lived extravagantly so I am just going to keep on doing what I've always done. Yeah, same here. I've always watched my money carefully, and I'm certainly being even more cautious now. But I live a pretty simple life already. Car's paid for. I pay cash for everything. I have zero debt, except for a few small accounts I keep open just to keep the credit score up, and which I pay in full every month. Have enough assets to live in relative comfort for at least 3, maybe 4 years without income if I have to. I do like to travel, but other than that, I don't see anyplace else I could cut back.

CatdeMedici -> RE: Going Galt...anyone else doing a personal downsize? (5/11/2009 12:28:49 PM)
quote: ORIGINAL: LaTigresse I've never lived extravagantly so I am just going to keep on doing what I've always done. I'm with LaT, there is no downsizing for us, just enjoying the sweet spot our practical living has brought us in these times.

littlewonder -> RE: Going Galt...anyone else doing a personal downsize? (5/11/2009 3:10:34 PM)
I've always lived a pretty simple life and I'm always continually trying to do so more even before the economic downturn. I like to be able to live a life where I don't have to be worried about my bills, my home, when the lawn needs mowed or if I need to be home so the handyman can fix the furnace. I'll be so extremely happy when I can sell my suburban home that I hate with a passion so that I can rent a small apartment where someone else can take care of anything that breaks and I can just pick up and do whatever I want, whenever I want. Now that for me would be heaven.

intenze -> RE: Going Galt...anyone else doing a personal downsize? (5/11/2009 3:16:33 PM)
I already took a huge cut in salary to persue a job I love. I am frugal, I am so much happier, and life is simpler. I, too, though would like to unload my huge house. I just dont need it.

MarsBonfire -> RE: Going Galt...anyone else doing a personal downsize? (5/11/2009 4:19:42 PM)
Back in 2000, I was getting pretty damned tired of the upper level types constantly fucking me over... hostile corperate takeovers destroying jobs I had, mortgages being sold off again and again, credit cards changing rates on me for the slightest reason... that was when I said fuck it! Sold my house at a tidy profit. (I bought a Victorian from HUD in 1990, before the Denver market skyrocketed.) Paid off my car (not much left on it anyway) and decided to move somewhere that I could pay for a house with the remainder, cash on the barrelhead. Found a place that was under my price range in Arkansas. Moved there, and used the cash left over to pay off the cards. I now owe nothing on my home. I own my car, and just need to pay for regular repairs. I kept one credit card, and stuck the others in a blender. My total debt these days is about $1500. For the first time, I sleep well at night, knowing that I have this much more control of my life. My house is small, but cozy. (There's plenty of room for bookshelves too!) The land it's on has a private well, and a creek running along the back property line insures that I have water for utility uses, if not for drinking. I keep a winter's supply of firewood on hand at any time of the year, and there's plenty of woods surrounding me for more, should I need some in an emergency. Let me tell ya, Crush, if you can do it, by all means go for it! Back before the big change, I was a total wreck! I was pushing for an ulcer, I had high BP, and I couldn't remember getting a good night's sleep in years. All of that has been resolved.

sblady -> RE: Going Galt...anyone else doing a personal downsize? (5/11/2009 5:12:25 PM)
As much as I've become accustomed to certain things, I'm downsizing when my lease expires. Yep, I'm a renter; partially because I've considered relocating for years, but mostly because the upkeep of a house is a pain I didn't want/need. I almost bought a condo but nah....couldn't allow a "board" to have that much control of my life. [:D] When I did a bit of calculating, the money saved by downsizing is pretty impressive so it was a no brainer.

MsFlutter -> RE: Going Galt...anyone else doing a personal downsize? (5/11/2009 6:33:10 PM)
quote: ORIGINAL: MarsBonfire Found a place that was under my price range in Arkansas. I'm jealous - I LUV Arkansas. I'll be there next week (Arkansas - not your house LOL)

LookieNoNookie -> RE: Going Galt...anyone else doing a personal downsize? (5/11/2009 7:40:38 PM)
quote: ORIGINAL: Crush I'm thinking I'll get more out of life spending more of it not chasing consulting dollars anymore, especially with the potential increases in taxes coming. Anyone else considering downsizing their life, going Galt, so to speak, because of trends that you forsee? Not even in the remotest possible sense. I'm having a blast spending more than I ever have previously. One of the best things about being 50, and single is....it's all about me baby :) (Never had a better time in my entire life than right now :) )

Lorr47 -> RE: Going Galt...anyone else doing a personal downsize? (5/11/2009 10:46:49 PM)
quote: ORIGINAL: Crush I'm thinking I'll get more out of life spending more of it not chasing consulting dollars anymore, especially with the potential increases in taxes coming. Anyone else considering downsizing their life, going Galt, so to speak, because of trends that you forsee? I have downsized but it was not my decision. I have eight additional exemptions for 2008 and a lot of animosity for step relatives

MsFlutter -> RE: Going Galt...anyone else doing a personal downsize? (5/12/2009 2:57:59 AM)
quote: ORIGINAL: MsFlutter quote: ORIGINAL: MarsBonfire Found a place that was under my price range in Arkansas. I'm jealous - I LUV Arkansas. I'll be there next week (Arkansas - not your house LOL) Oh wait - that's THIS week. I better pack !!!

BrokenSaint -> RE: Going Galt...anyone else doing a personal downsize? (5/12/2009 9:34:25 AM)
No downsizing here, nothing really for me to particularly downsize. I've always lived pretty comfortably on almost nothing, I'm making significantly more than I ever have nowadays, but my spending didn't really adjust, I've been beating away at the student loans, socking away retirement funds (right now I'm realistically at a point where I'm almost to what I make now post 65), and saving to buy a house. I don't really think having grown up poor that my lifestyle would adjust much even if I suddenly became ridiculously rich. I like the things I like, most of them don't cost very much money.

Termyn8or -> RE: Going Galt...anyone else doing a personal downsize? (5/12/2009 9:42:47 AM)
If I am getting this right, I think I already did it. I might work about 20 hours a week now. This may have to change due to certain upcoming circumstances, I might simply need more money for a time to cover some expenses I KNOW are coming, but I am hoping that is a temporary thing. As I said before, I don't make alot of money, but I make it fast. With no house or car payments I think I have had it good actually. I hope I got this right, because I have never heard that term before. I am just going by the description given. I think if one sets their mind to it, pays the big stuff off, and is only left with utilities and such, possibly a CC or two, alot of people could eliminate alot of the stress out of their life. Sure I would have to work more if say, I wanted a boat, or something of that nature. But I don't, up here they are nothing but a money pit that you can only use for half the year, if that. So "Galt", if that is the term for it, I guess I learned a new word. Never heard it or seen it in print anywhere in my life before. T

ienigma777 -> RE: Going Galt...anyone else doing a personal downsize? (5/12/2009 9:50:56 AM)
YUP....what else can one do? Downsize...gotta pay my bills, gotta get gas...anyhow, the Arabs have suffered long enough...they need that Dubai 800Billion dollar office building and their indoor ski resort.

BrokenSaint -> RE: Going Galt...anyone else doing a personal downsize? (5/12/2009 10:11:19 AM)
quote: ORIGINAL: Termyn8or If I am getting this right, I think I already did it. I might work about 20 hours a week now. This may have to change due to certain upcoming circumstances, I might simply need more money for a time to cover some expenses I KNOW are coming, but I am hoping that is a temporary thing. As I said before, I don't make alot of money, but I make it fast. With no house or car payments I think I have had it good actually. I hope I got this right, because I have never heard that term before. I am just going by the description given. I think if one sets their mind to it, pays the big stuff off, and is only left with utilities and such, possibly a CC or two, alot of people could eliminate alot of the stress out of their life. Sure I would have to work more if say, I wanted a boat, or something of that nature. But I don't, up here they are nothing but a money pit that you can only use for half the year, if that. So "Galt", if that is the term for it, I guess I learned a new word. Never heard it or seen it in print anywhere in my life before. T Eh its a whole Ayn Rand thingy, Galt as in the "hero" of atlas shrugged.

popeye1250 -> RE: Going Galt...anyone else doing a personal downsize? (5/12/2009 10:15:11 AM)
Well, last fall I bought a Lincoln mk S instead of a big Ford pick-up truck, does that count? Better gas milage and goes like a raped ape! "Hey, nice car Popeye!" "Yeah, I'm "galting it baby!"

Crush -> RE: Going Galt...anyone else doing a personal downsize? (5/12/2009 12:55:32 PM)
"Going Galt" comes from Ayn Rand's book Atlas Shrugged in which the productive minds of the world decide to "strike" or downsize their contributions to society because of an increasingly socialist world that no longer rewards them for their efforts. It isn't so much downsizing/simplifying, but more not living fully to your potential because of the lack of rewards for that potential's output. So the "producers" would rather flip burgers than engineer new solutions. Yes, it partially does mean to live more simply, but not because of a desire to live more simply, but because working harder no longer has sufficient rewards for those creative people. For me, it would mean not a simpler lifestyle...mine is pretty simple already and I don't owe anything but my mortgage. I'm a 25+ year tenured college professor after all... 17 hours a week and 30 weeks a year IS a pretty good gig already! (I agree Mars et al,...simpler life at home is better...we grow our own veggies and such here. Well, the zuchs are a problem...how many CAN you give away without pissing off your neighbors with those "mystery bags" that show up on their doorstep?) But in past summers I've worked at developing cool products for the entertainment and sign industries involving microcontrollers (itty bitty fingernail-sized computers), including casinos and nightclubs as well as lighting & signage including some on Times Square. And I've also done a lot of research and work in computing security and have been active in security organizations. Writing some books and editing others. And so on, maximizing my summers. But now, I'm thinking I'll "just go fishing" so to speak, and basically NOT produce, not participate, and in general, become a lump. The return on my investment of time as measured in dollars won't be there anymore, if all continues. Why would I want to start earning less and less per hour as I move up the tax rate at the same "hourly rate?" For example, I charge $200/hr* for consulting. Whenever I cross an income limit into a higher bracket, then I'm actually earing LESS per hour because of the taxes associated with that bracket. It isn't like I can say "OK, $200/hr for the first 100 hours, then $250/hour" just so my net takehome is the same. That doesn't work out there! So, are you thinking of "going Galt?" ---------- * the more you charge, the harder they listen..and they are more likely to benefit from your advice.

DemonKia -> RE: Going Galt...anyone else doing a personal downsize? (5/12/2009 1:29:49 PM)
I've been 'living Galt' my whole life . . . . . . . &, seriously LOL, not for any kind of Randite / libertarian reasons . . . . . I'm probably better described as a 'radical progressive' . .. . . . I don't like that half of whatever tax dollars I might give to the fed go to support the war machine, so I deliberately don't get anywhere close to what my 'earning potential' might have been . . . . . (I was a statistics student in college, looking at becoming an actuary, as an example of the kinda money / position I'm eschewing.) I live my life on my terms, do what I want to do, & being a cog in a corporate machine gets in the way of that . . . . . I'm an enthusiastic fan of paying the portion of taxes that goes to schools & parks & water-treatment plants & so on & so forth, but the enormous chunk that gets wasted on two-billion-dollar 'stealth' bombers & such like, yeah, not really into paying for all of that . . . . . . Also don't buy into all the fear-mongering stuff that accompanies the 'need' to buy those items . .. .. .. Tho' I do wanna take a second & say that I find the basic thesis of that book really arrogant & elitist -- from my perspective the 'ditch-diggers' of the world work harder than so many, & get darn little respect (especially when a richer country needs to start importing it's low-wage workers from poorer countries) . . . . . The world's Galts would be in big trouble if the ditch-diggers went on strike . ... . & that's all assuming that the 'elite' will just 'naturally rise' to their obvious place of pre-eminence' . . .... Reductionism can be a useful tool, but is just as given to mis-use as any other tool . . .. . Over-simplification being the end result of that mis-use, & frequently leading the over-simplifying speaker to say things that are not true . . . . . . For example, the form 'All X are Y' will almost invariably get its users in trouble, cuz it is so rarely true . . .. . . & Ayn's novel is full of that . . .. . I live in a far more complicated world in which truly valuable humans live in all kinds of situations, occupy all kinds of occupations, & their net worth & income do not necessarily correlate to their worth as human beings . .. . . . Thanks for asking, & for clarifying, tho' . . . . . . [:D]

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