Hi all,
New guy here, based in Ireland, aged 46. I have been living the ERE lifestyle for years now, and only recently found this website. I found I could get by on a lot less after a job loss in 2009. Embrace change, or have change forced on you.
I am back working, but I don't spend any of my salary. I have enough passive income to live on. I have the practical and philosophical tools to follow this life plan.
Some things I have learned in last 5 years...
Focus on the process, rather than the outcome.
Eat before you leave the house.
Pressure from friends and family to conform to a conventional consumer lifestyle has been my biggest problem.
I lost friends along my journey, especially girlfriends. I have yet to find a girl who gets the frugal lifestyle.
I am FI but it helps that I work in financial markets and have information at my fingertips.
I rebalanced my funds, all in broader market ETFs on a global basis, sufficient income from them not to need any withdrawals, and cash buffer if I need to go back and average down.
Hello from Ireland
Re: Hello from Ireland
Hi MS,
It sounds like you are in great shape financially, congratulations!
Don't give up hope in regards to finding a significant other. Many others here on the forums have said this before, but try to emphasize the benefits of the frugal lifestyle (time to spend with loved ones, financial security, self-sufficiency) if it comes up. These are things every person looks for in a significant other, and there are plenty of women out there who appreciate these things.
Although you are FI, do you have any ERE goals for 2015? These could be managing expenses, developing skills, etc.
It sounds like you are in great shape financially, congratulations!
Don't give up hope in regards to finding a significant other. Many others here on the forums have said this before, but try to emphasize the benefits of the frugal lifestyle (time to spend with loved ones, financial security, self-sufficiency) if it comes up. These are things every person looks for in a significant other, and there are plenty of women out there who appreciate these things.
Although you are FI, do you have any ERE goals for 2015? These could be managing expenses, developing skills, etc.
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mr squirrel
- Posts: 6
- Joined: Thu Dec 25, 2014 3:13 pm
- Location: Ireland
Re: Hello from Ireland
For 2015, my ere goals are to continue to save 100% of my salary per month. To keep the discipline, I set up a DD to take it and put in a savings ac. I will add more long dated bonds IBGL, to balance risk. I do not intend to make any withdrawals from my ere fund ever, as income it gives is enough to live on.
If you find yourself doing something like ere, and people don't understand you or criticise you, then its probable you have found something, and its just right for you.
My main holding is a global dividend etf, and my main problem is, its gone up too much, cant bring myself to buy at these levels. I focus on yield, so I want carnage in the markets. Buy when there's blood in the streets, including your own.
On the partner front, she has to be frugally minded. As a friend said to me, good luck with that.
If you find yourself doing something like ere, and people don't understand you or criticise you, then its probable you have found something, and its just right for you.
My main holding is a global dividend etf, and my main problem is, its gone up too much, cant bring myself to buy at these levels. I focus on yield, so I want carnage in the markets. Buy when there's blood in the streets, including your own.
On the partner front, she has to be frugally minded. As a friend said to me, good luck with that.
Re: Hello from Ireland
Haha, I liked and agreed with your comment "If you find yourself doing something like ere, and people don't understand you or criticise you, then its probable you have found something, and its just right for you." I find this to be true as well.
I feel your struggles with finding it difficult to buy into many assets at current price levels. I have to be honest that a big part of me would be more at ease if equity markets had a major correction in 2015.
I feel your struggles with finding it difficult to buy into many assets at current price levels. I have to be honest that a big part of me would be more at ease if equity markets had a major correction in 2015.
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I(E)reland
- Posts: 36
- Joined: Mon Jun 02, 2014 3:07 pm
Re: Hello from Ireland
Welcome...good to see somebody else from Ireland.
Re: Hello from Ireland
Could you give us an idea of how you structure your investments from a tax and cost point of view?
Re: Hello from Ireland
Greetings from Kilkenny. On the partner front, I think it's best not to be all weird up front, but rather say hey if we could work out how to live on X then you and I could adventure all we want and not work at all..... Perhaps pointing this out after some time away together, in South America perhaps. People can change. Jacob by his own account did. I did. My wife did.
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mr squirrel
- Posts: 6
- Joined: Thu Dec 25, 2014 3:13 pm
- Location: Ireland
Re: Hello from Ireland
McGaggs,
I keep everything in taxed accounts, I dont care about pension tax savings. Anyway, ERE means early, so I cant wait until age 60.
Getting the savings rate up is key to this plan, ruthless expense control, its a mission for me. Flexility is the key, being ready to go at a moments notice. Being ERE-minded, you will be ready for most scenarios, economically speaking. I had a year 2010 where I had to live on 50 euro a year, did not touch the principle, and only got the stash up in last 4 years to a serious amount. Broker account is low cost but then, I dont trade much, and I stick to my plans, dont blink, stay the course, focus on asset allocation, ignore market timing.
I keep everything in taxed accounts, I dont care about pension tax savings. Anyway, ERE means early, so I cant wait until age 60.
Getting the savings rate up is key to this plan, ruthless expense control, its a mission for me. Flexility is the key, being ready to go at a moments notice. Being ERE-minded, you will be ready for most scenarios, economically speaking. I had a year 2010 where I had to live on 50 euro a year, did not touch the principle, and only got the stash up in last 4 years to a serious amount. Broker account is low cost but then, I dont trade much, and I stick to my plans, dont blink, stay the course, focus on asset allocation, ignore market timing.
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mr squirrel
- Posts: 6
- Joined: Thu Dec 25, 2014 3:13 pm
- Location: Ireland
Re: Hello from Ireland
Typo, I meant to say e50 / week, due to being out of work. i have loosened up a bit, but I still budget e5 per week for lunch at work.
Have to disclose, no rent or mortgage to pay - cleared this away in my twenties.
Food is cheap these days, and if its not sold in Lidl or Aldi, I dont buy it.
I have always been careful with money, but the more I read these websites, I am way behind the curve.
I guess its easier to do FIRE in the USA, less taxes, goods and services are cheaper.
While I am still in the accumulation stage, I am 90% of the way there. Its easier to achieve a passive income stream, that it is to get to a figure of say 1M. I looked at the Harry Browne permanent portfolio, see www.gyroscopicinvesting.com, while its been backtested for decades, I do not like or want gold. Because I focus on income / yield, but not at any price. I dont need any more equities, next additions will only be long duration Govt. bonds, some corporates and cash or cash-equivalents. I take ideas from that website and adapt to my own portfolio.
Have to disclose, no rent or mortgage to pay - cleared this away in my twenties.
Food is cheap these days, and if its not sold in Lidl or Aldi, I dont buy it.
I have always been careful with money, but the more I read these websites, I am way behind the curve.
I guess its easier to do FIRE in the USA, less taxes, goods and services are cheaper.
While I am still in the accumulation stage, I am 90% of the way there. Its easier to achieve a passive income stream, that it is to get to a figure of say 1M. I looked at the Harry Browne permanent portfolio, see www.gyroscopicinvesting.com, while its been backtested for decades, I do not like or want gold. Because I focus on income / yield, but not at any price. I dont need any more equities, next additions will only be long duration Govt. bonds, some corporates and cash or cash-equivalents. I take ideas from that website and adapt to my own portfolio.