Your responses would likely vary, but I’d wager very few of you would answer: Get rid of nearly everything I own, leave my home, and live out of a single duffel bag.
Yet that’s precisely what bestselling writer and entrepreneur James Altucher has chosen. This isn’t a publicity ploy — based on his own posts, it seems he genuinely embraces this way of life.
Who is he, and what drives this decision? I wanted to learn more…
Who is James Altucher?
In a Reddit AMA, Altucher described himself as the “founder of 20 companies (17 of which failed), author of 11 books, and writer.”
“I’ve made millions, lost it all, made it back, and written about everything I’ve learned along the way,” he wrote. He’s perhaps most widely recognized for his book “Choose Yourself,” which mixes entrepreneurship with self-help principles.
As for his exact wealth, it’s tough to say.
One site pegs his net worth at over $20 million, but on Quora he gave a philosophical reply: “Infinite and 0. No matter what, I’m going to die. Then it’s zero. Right now, I have everything I can ever possibly want. So it’s infinite.”
The bottom line: we’ll probably never know the precise figure — but from his track record, it’s reasonable to assume he’s a multimillionaire.
Why Does He Travel With Only 15 Items?
A few months back, Altucher “discarded or donated nearly everything he owned” and let his apartment lease run out, according to the New York Times.
These days he couchesurfs and stays in Airbnbs, carrying a duffel that holds a “laptop, iPad, three pairs of chinos, three T-shirts and a Ziploc bag containing $4,000 in $2 bills.” (Apparently, leaving $2 bills as tips makes you memorable.)
That explains the logistics, but what about his motive?
“My brain is not so big,” he explains on his site. “So now I can think about other things. I can explore different ways of living with more ease” —such as avoiding
sending your kids to college orgetting stuck with a mortgage, both of which he views as traps.
His take on minimalism isn’t what many expect.
“Love is minimalism,” he writes. “Desire, possession, and control are not minimalism.”
He’s less focused on discarding objects than on a “minimalism of fear, anxiety, stress, mourning.”
Before you dismiss this as too New Age-y — or assume you could never live the way he does — pause and consider what that really implies.
Even if you can’t (or won’t) give up your home and every possession, youcanconsider what genuinely matters; what makes for afulfilling, low-stress lifefor you.
Because it won’t necessarily match what others value.
When your resources are more limited than Altucher’s (as they are for most of us), it becomes even more crucial to determine how to allocate them.
For me, a wealthy life equals fewer belongings and more travel.
I wouldn’t opt to live with only 15 items, but I get Altucher’s reasoning — and admire his choice to live outside the mainstream.
Rather than allowing societal currents to steer you, actively decide what you invest yourtime, money,and energy in.
Or, as Altucher suggests, “Figure out the 10-15 things you want in your bag before you die tomorrow.”
Your Turn: Which 15 items would you pack in your bag?
Also consider reading more thoughts on shaping money habits and upbringing at personal finance growing up korean household.
Alex Monroe, a senior writer for Savinly, enjoys finding budget-friendly adventures. Check out his blog at alexmonroe.com, or say hello on Twitter @alex_monroe.
