CreativeGirl´s road to freedom

Where are you and where are you going?
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CreativeGirl
Posts: 8
Joined: Mon May 30, 2016 3:18 pm

CreativeGirl´s road to freedom

Post by CreativeGirl »

Money is ... exchange of life energy

Networth: 434.000 $
Cash: app. 50.000 $
Cash = 35 month of living without a job

Income: 3850 $
Savings: 2860$

Age: 36
Kids: Yes
Husband: that too :)

El Duderino
Posts: 177
Joined: Mon Oct 27, 2014 12:24 pm

Re: CreativeGirl´s road to freedom

Post by El Duderino »

Hi there. From your income-savings and 50K representing 35 months of expenses, you're spending somewhere between 1,000 and 1,400 a month? If so, well done!

CreativeGirl
Posts: 8
Joined: Mon May 30, 2016 3:18 pm

Re: CreativeGirl´s road to freedom

Post by CreativeGirl »

@El Duderino

Thanks, I'm spending approximately $1700 pr. month at the moment, but I'm planning to retire on $1400 pr. month. I think $1700 is a lot of money, but of cause I also have kids to take care of and so on.

I forgot to add some pension to my income, so there is a small revision:

Income: $4360

CreativeGirl
Posts: 8
Joined: Mon May 30, 2016 3:18 pm

May 2017

Post by CreativeGirl »

Hi there

Another month has past and here is an update of my stash:

Income: $4881 + some dividend app. $375
Spending: Don't quite know, but bought clothes and shoes for me and the kids, so probably a bit high.


Networth: $460.221
Cash: app. $56.000
Cash = 37 month of living without a job.

A bit about me: I'm an engineer within biotechnology and I work in a medical company. I graduated some 10 years ago, and I was looking foreward to begin "real life", but boy I was disappointed. Working life was not as inspirational as I thought, it was "easy" in terms of the scientific content but had a lot of deadlines instead. In the beginning I thought that was a lot of fun, because I like to compete and setting goals, but after a few years it started to bore me - I mean it just continued - forever! :o
I didn't like the idea of this for the next 30-40 years, so I began calculating how much I could save, and I arrived at app. $75.000 in 10 years. Obviously that was not a lot, and not enough, so I began buying stuff. Stuff for house, stuff for myself, magazines and so on. I like to do knitting projects, but I realised that I didn't have time to finish it, so I even decided to buy item as treats that didn't demanded any time "wasted" on it like vases or flowers. I wanted to be rich but I think I liked to feel rich instead and figured out that I wanted to treat myself with spending $150 every Friday. A couple of years past like that and then I fell over Mr. Money Mustashe's blog in December 2015 and read every blogpost during the Christmas hollidays. Then I realised how to do it - how to manage ones money and retire early. It turned the scene up side down, and I began saving.

Goals for June:

Excersise three times a week for at least one hour and five times for app. 15 minutes
Finish one knitting project
Do one DIY project
Arrange a family outing
Arrange something with friends
Do five things for free a week
Read one book
Ask for a higher salary at work
Last edited by CreativeGirl on Wed May 24, 2017 4:13 am, edited 1 time in total.

Eureka
Posts: 340
Joined: Fri Jun 10, 2016 11:03 am

Re: CreativeGirl´s road to freedom

Post by Eureka »

Seems you are so much on the right track. So when do you expect to quit working full time? Judged from your total networth it could be very soon.

CreativeGirl
Posts: 8
Joined: Mon May 30, 2016 3:18 pm

Re: CreativeGirl´s road to freedom

Post by CreativeGirl »

@Eureka: The short version is: "More of the stuff I like to do", and that is many things; reading, various sports, playing music, maybe making apps, hobbies, gardening, traveling, but I have to consider my kids, so I will not be able to just go off to some remote place or take a longer stay for learning new skills. It will have to fit in in some normal week scheme... And considering the kids it will also take a bit longer to reach FI, in the sense that most of my net worth is bound in our house, and we don't think we will sell it before our youngest has finished high school. My plan is therefore to save enough money to live of until the youngest finishes school and then sell the house. That will be app. 8 years from now, but I think of take a year of when I'm 40, and travel with my family :)

FBeyer
Posts: 1069
Joined: Tue Oct 27, 2015 3:25 am

Re: CreativeGirl´s road to freedom

Post by FBeyer »

Hello and welcome

It's always nice to see (even more) Danes around here.
It's a shame you couldn't make it at the most recent meetup, there were plenty of other new people there.

'seems to me like you're doing really well financially, you'll get there before you know it.

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