I read the ERE book a couple of years ago and it took awhile, but I've begun implementing the principles and saving more money (currently at 25%, but soon to be at 30%). My current scenario is a "hybrid ERE". Hybrid because I live at the beach and pay a lot for rent. Everything else is cheap. I do this because I surf a lot and don't work a lot of hours. I'm "investing in my skills for the future", which is surfing (not monetary, rather life energy).
Here are my stats:
35 yr old single male. I have a degree in chemical engineering and, so far, haven't had any issues finding work. I'm working now in sales, which means I don't put in a lot of hours and work from home and make good money. It's not a career fit, so I'm not too worried about whether I keep the job or not. My fellow workers are always in dire straights about money and losing their job.
I don't have a car payment and have a $1000 credit card balance that's only used for company expenses and emergency situations. No student loans.
I have about $40,000 cash and am currently educating myself on investing. Looking at index funds and bonds and will have questions I'm sure for the group.
I own a home in Atlanta, which I believe is recovering from the housing crash nicely. Many folks are moving there, so I feel it's a solid property. Current value is $170k and I owe $110k. Being generous I have $50k in equity. I have renters through a property management company and when all is well (no repairs
) I receive about $375/mon in positive flow.Lifestyle: I've been a rockclimber and surfer for years and want to pursue these sports in mini or permanent retirement as soon as possible. I'm also a Zen Buddhist and look to take a on a residency at some point in the future. I love writing and guitar as well. Let's just say I won't have an issue with leaving the rat race, 2 weeks per year, work-force.
I'd like to save another $50k over the next 2-3 years and hold on to the property. Of course the ~$100k cash I hope to have then will be invested in multiple ways hopefully. I'm very interested a lifestyle that will be minimal and only require occasional low wage jobs to make ends meet.
How am I looking? Suggestions?
Thanks
Zach