Frugal living in rural Canada

Where are you and where are you going?
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CECTPA
Posts: 103
Joined: Tue Apr 19, 2016 9:27 pm
Location: Canada

Re: Frugal living in rural Canada

Postby CECTPA » Mon Nov 21, 2016 7:18 pm

Okay, I started working in the new capacity (desk job, not bedside nursing). Mon to Fri, 8 to 4, no night shifts. It feels like I'm a cheater... 100 times less stress. Busy, but manageable. I get the same rate per hour ($41), but no modifiers, because we only get modifiers when working nights, weekends or some crazy hours. So, I'm losing a bit of income, but the benefits are disproportionately bigger. With this kind of change in pace and with this change in stress levels I'm not in so much rush to retire. Not to the extent I was before :) But I'm on track, it's all good :)

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CECTPA
Posts: 103
Joined: Tue Apr 19, 2016 9:27 pm
Location: Canada

Re: Frugal living in rural Canada

Postby CECTPA » Fri Mar 10, 2017 11:32 pm

I'm quite discouraged and disheartened about the perspectives of my FI.
It became quite clear that my Mom back in Russia will not be able to get back to work after her back surgery. Everything is okay with her, she's not sick or anything like that. But she's retired and her pension in Russia is not enough to cover basic needs.
So, I have been sending her money for a year ($6000 total) and with that she has been living a decent life, though quite frugal, which I encouraged, as I can't and won't support a lifestyle more luxurious than mine.
Anyway, now it is clear that FI becomes quite distant in my situation. As my parents age their needs will become more and more expensive. I just need to decide right now what shall I do. Either back to killing myself at work with all that overtime and therefore better savings rate. I don't know how long I would last though.
Or just continue doing what I'm doing with rather low stress level and still enough income to cover everything but more distant FI.
For the last year I
sent my Mom $6,000
saved and invested $40,000
brought debt (mortgage) from $88,000 to $60,000

But for the majority of the year I was working full time, and now I'm 0.8 FTE and much more healthy mentally. My parents are relatively healthy and happy. I'm enjoying my job and my life.

Everything is good, even though FI is not that close. Oh well, I'll figure it out.

JamesR
Posts: 792
Joined: Sun Apr 21, 2013 9:08 pm

Re: Frugal living in rural Canada

Postby JamesR » Sat Mar 11, 2017 10:57 am

Would the extra time give you opportunities to do a side project that could generate some income or help reduce expenses?

Perhaps if you have a good portfolio allocation you can achieve FI sooner than you think, maybe ~7 years, especially with the magic of compounding interest etc.

User avatar
CECTPA
Posts: 103
Joined: Tue Apr 19, 2016 9:27 pm
Location: Canada

Re: Frugal living in rural Canada

Postby CECTPA » Sat Mar 11, 2017 11:32 am

JamesR, I have many options, actually, on what to do, I just need to pick a strategy.

The struggle right now is philosophical, the paradigm shift in my life. Since I have dependants now with unpredictable circumstances, I can't dream about full freedom anymore. Which is okay, I will readjust my dreams of decent life.

K60
Posts: 20
Joined: Tue Sep 09, 2014 5:59 pm

Re: Frugal living in rural Canada

Postby K60 » Mon Mar 13, 2017 8:05 pm

Would it be worthwhile to encourage your parents to join you in Canada?


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