Living Small and Saving Big in Red States

By Ariel Celeste Photography @ Shutterstock.com

One of the first things you notice when moving from a high-tax coastal blue-state to a low-tax red-state is how much farther your money goes.

You can buy a bigger house for example, but you don’t need to.

I’ve been following the small house movement for years and I enjoyed this piece written by Katherine Roth for the AP on finding one the “right” size. She writes:

With the current trend toward de-cluttering and downsizing, there are plenty of books about how to winnow down possessions to the few that are truly necessary and loved. This book shows how you can live well once that’s done.

In “Downsize: Living Large in a Small House” (2019, The Taunton Press), author Sheri Koones focuses on practical ways to live well at home once you’ve streamlined your belongings and are living more compactly.

“It scares people to think of moving into a smaller space, but every single person I interviewed who has made the transition says they are so happy they did,” Koones says. “Time and again, people used the word ‘liberated’ to describe their move to a smaller space, with homes requiring far less time and money to maintain.”

Downsizing is an effective way to lower your monthly costs and could help you put more money into saving for retirement. The small house movement fits well within a FIRE! (Financial independence, retire early) lifestyle. Coupling saving techniques like FIRE! and moving to a low cost of living state can help you build the financial security you need to enjoy a happy and long retirement.

• The FIRE Movement by the Numbers
• Low Cost of Living Isn’t Just for Retirees
• Will You Outlive Your Money? FIRE!
• California’s Government Makes Living Hard
• Living Your Best Life: FIRE!
• Does Your State Just Cost Too Much to Retire In?

Originally posted on Your Survival Guy.

The following two tabs change content below.

• Bio
• Latest Posts

E.J. Smith - Your Survival Guy

Preparing your investments and family for when disaster strikes.

E.J. Smith is the Founder of YourSurvivalGuy.com, Managing Director at Richard C. Young & Co., Ltd., a Managing Editor of Richardcyoung.com, and Editor-in-Chief of Youngresearch.com. E.J. graduated from Babson College in Wellesley, Massachusetts, with a B.S. in finance and investments. In 1995, E.J. began his investment career at Fidelity Investments in Boston before joining Richard C. Young & Co., Ltd. in 1998. E.J. has trained at Sig Sauer Academy in Epping, NH, where he completed course-work in Practical and Defensive Handgun, Conceal Carry Pistol, Shotguns, Precision Scope Rifle and Kidnapping Prevention. E.J. plays a Yamaha Recording Custom drum set with Zilldjian cymbals. His first drum set was a 5-piece Slingerland with Zilldjians. He grew-up worshiping Neil Peart (RIP) of the band Rush, and loves the song Tom Sawyer—the name of his family’s boat, a Grady-White Canyon 306. He grew up in Mattapoisett, MA, an idyllic small town on the water near Cape Cod. He spends time in Newport, RI and Bartlett, NH—both as far away from Wall Street as one could mentally get. The Newport office is on a quiet, tree lined street not far from the harbor and the log cabin in Bartlett, NH, the “Live Free or Die” state, sits on the edge of the White Mountain National Forest. He enjoys spending time in Key West and Paris. Please get in touch with E.J. at ejsmith@youngresearch.com. Sign up here to receive all the best content from Richardcyoung.com each week.

Latest posts by E.J. Smith - Your Survival Guy (see all)

• The Great Holocausts of the Twentieth Century Driven by Radical Ideologues - February 14, 2020
• “Hello, McFly?” - February 13, 2020
• The Big Winners When You Faithfully Give to a Cause (Retirement) - February 12, 2020