America Will Never Let You Rest: We Must Achieve a 50% Savings Rate

Do you have the feeling that you are constantly running in place? That every time you make some progress, you have another financial setback?

Welcome to America. Welcome to capitalism. The only way to get ahead in America is to become uber-rich.

Yes, we can get ahead of bills by living below our means and building additional income streams. But how do we reach the point where our entire family (adult kids) is also good?

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Ideally, we must get to the point where we can live on 50% of our income and invest the rest. This is how we can ensure the quality of life for future generations.

Working through inflation. But how can we reach the 50% investment level if inflation and other cost of living adjustments continually impede our progress?

For example, let’s take a look at one of my rental properties. In 2023, my mortgage (with principal, interest, taxes, insurance) was $1,345; I charged $1,800 for rent.

In 2024, I will raise the rent to $1,900, which is excellent for my tenants. However, my new mortgage is $1,410 because of higher property taxes.

So, of my $100 pay raise, the local government took $65. Of course, I could raise the rent more, but that’s not how I want to proceed.

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This financial encroachment happens across all spectrums of our daily lives. Food, gas, utilities, subscriptions, repairs, electronics, phones, and college are constantly rising. How are Americans supposed to react?

Inflation is the cost of being alive. First, we must understand that inflation is a part of life and accept it on its merits.

Inflation separates the weak from the strong and the poor from the rich. Once you grasp how powerful inflation is, you must make drastic changes to outpace it.

I am writing this article because I just realized how much pressure we take on to live in America. My wife and I just returned from a long trip to Istanbul, Turkey.

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My wife’s Istanbul family can live a decent life there for $1,000 USD per month. They can live better than most Americans if you double it to $2,000.

For context, our military retirement gives us $8,500 per month. I don’t want to state the obvious, but we could live quite well on 50% of our pension in Turkey.

More importantly, I didn’t feel that creeping feeling of doom while I was in Turkey. I felt like I was firmly ahead of the game there. I want to keep that feeling going; we are moving to Turkey.

The slow life. It’s not just the conversion rate that we love about Turkey; it’s also the way of life. We can walk 90% of the time and then take an Uber or taxi the other times.

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People are kind, and we don’t feel competition among the family. I can still make additional streams of income from royalties, rents, dividends, and options trading. I can just get super far ahead of the power curve.

If my wife and I move to Turkey, we expect to come home in ten years with at least $2-3 million in the bank. Now, that’s the kind of money that can keep us ahead of the inflation curve in America.

We realized that 80% of our actions in America were inconsequential. Going to a movie and lunch in America (as a family of four) costs upwards of $150; that’s in Florida.

We can have the same experience in Turkey for $50. So, why would we stay in America? I love America, and I served in the military for 24 years. I went to Afghanistan for this beautiful country.

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Working too hard for too little. However, we are working hard in America for no financial reward. My wife and I earn $4,000/month in passive income outside of our retirement.

We should be well ahead of the power curve. However, if we slip up, we return to the drawing board. We are working too hard just to stay afloat.

Yes, the power of compounding will take hold of our portfolio over the next ten years. We don’t need to do much for our $300,000 dividend portfolio to become a massive income stream.

But I can’t shake the feeling that I am not hustling hard enough in America. Some call it Hustle Culture; I think it is the cost to keep your family fed in America.

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You must have a strong work ethic AND be financially sophisticated to stay here. You must live on a budget, make additional streams of income, plus predict the future (the best you can).

For example, let’s say you received a $5,000 bonus from your boss. You can’t just go and blow it because you have to review your list of priorities.

1. Home repairs
2. Car repairs
3. Consumer debt
4. Student loans
5. Retirement planning
6. Kids college
7. Emergency fund

When do we reach the point where we can be less responsible? I am tired of always being “on point” and “taking care of business.”

What’s your next move? By moving to Turkey, we can hack the game of life. Our retirement income will only set us free.

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We don’t have to constantly look over our shoulder, waiting for the other shoe to drop. We can live a tranquil, very comfortable lifestyle while saving 70% of our income.

Now, I will redirect the question to you. What is your next significant financial move? How can you reach the point where you can save and invest over 50% of your income?

Without saving and investing 50% of your income, you’ll simply live on the grinder your entire life. Remember, we still have to worry about long-term care, our grandkids, and renovating our homes.

There is no future that doesn’t involve costing tons of money. We must imagine that our expenses will double every 10-15 years. 

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If we can obtain enough assets (dividends, rentals, royalties, business), we can keep multiplying our income to overcome our expenses easily.

Conclusion. Raise your hand if you are tired of feeling broke and behind. My wife and I worked hard to retire early and save our nest egg. We need to do it again, but this time in luxury.

We had roommates for 4.5 years to escape debt and build our nest egg. Now, we can move to Turkey, be with family, and enjoy the good life.

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All while saving and investing 50-70% of our income. Yes, please! If you want to change your future, you must do something drastic.

More importantly, if you want your children to have a chance to become homeowners, get married, have children, and avoid the rat race, we must position ourselves as financial leaders.

The writing is on the wall; America is moving to become a country full of renters. We will rent our clothes, homes, and cars. Only the rich will be able to afford to own anything. 

Do you want to be rich or poor? That’s the question I ask myself every day. I then make difficult decisions based on the answers I give myself. Good Luck!

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