Early Retirement Extreme Forums

May 2021 Update:


Current Assets:
Cash $68,695
401k $4,027
IRA $42,924
Roth IRA $192,597
HSA $28,939
I.O.U. $70,000
Home $70,000
Car $12,000

Current Debts:
Credit Card -$450

Prior Months Net Worth $482,718
Current Net Worth $488,732

Net Worth Increase of $6.014

Prior Months SWR 3.73%
Current SWR 3.683%

Life & Finance:
Had a pretty standard month other than the fact I worked absolutely zero hours of overtime. It’s been really hot here this last week and my home air conditioning unit can’t keep up with the heat. So I may buy one of the portable air conditioners to keep my bedroom nice and cool while I have the central air working moderately.

I also need to buy a carpet cleaner. I use to rent the cleaners from the grocery store but it was always a stressful situation because I only had the thing for 24 hours. I think the $250 carpet cleaner I’m looking at will be great because it is high quality and I will be able to clean my carpets at will.

I got my first dose of Covid Vaccine. I want to be fully vaccinated and ready for when travel restrictions are lifted. I haven’t taken a vacation since 2016 and I need one bad.

Fitness/Health:
I’ve been steady at 190 pounds but I do feel like I’m getting stronger and feeling good. I do need to increase my cardio.

Fun:
None

Goals for May were:
-Continue to workout & tweak the diet to gain muscle and lose fat.
-Keep in contact with people I care about Friends/Family.

Goals for June:
-Purchase a portable air conditioning unit
-Purchase a carpet cleaner
-Buy a new pair of work shoes
-Get my 2nd Pfizer/Covid shot

June 2021 Update:


Current Assets:
Cash $68,843
401k $4,176
IRA $43,029
Roth IRA $193,292
HSA $31,384
I.O.U. $70,000
Home $70,000
Car $12,000

Current Debts:
Credit Card -$225

Prior Months Net Worth $488,732
Current Net Worth $492,499

Net Worth Increase of $3,767

Prior Months SWR 3.683%
Current SWR 3.65%

Life & Finance:
Paid my $720 annual home owners insurance policy premium. No overtime at all again at work so bigger monthly Net Worth increases are tough now. But with the added free time I have been able to hit the gym more, I’ve been working on cleaning up and organizing my backyard & I even cut down that annoying lemon tree. The lemon tree would always grow real crazy even though it was supposed to be a dwarf and the branches would go over the fence into my neighbors year. In July I plan to deal with the remaining tree stump and have the trash company pick up and haul away my old rusty BBQ grill.


Fitness/Health:
Went to my doctor visit and I’m happy to say my blood pressure has come down a bit. Still slightly higher than where I want to be but within the normal range. The magic is what happened with my cholesterol. I was at 264 which is very high. Cholesterol should be under 200 for a healthy range. Well in 6 months I brought it down to 145!! I have been taking cholesterol medication which I know assisted but I think the exercising and going vegan the first 4 months of this year contributed as well. Hopefully my doctor will agree to ween me off the medication because I hate having to take it and in the future when I travel I don’t want to have to deal with carrying around medicine.

Fun:
Picked up a few more colognes to add to my collection. Spent less that $100 but I am really enjoying my collection now. I have a few more I want to pick up but they have to be purchased online because they are not sold at local stores.

Goals for June were:
-Purchase a portable air conditioning unit (Couldn’t find a good one at a decent enough sale/price) FAIL
-Purchase a carpet cleaner (Couldn’t find a good one at a decent enough sale/price) FAIL

-Buy a new pair of work shoes (DONE)
-Get my 2nd Pfizer/Covid shot (DONE)

Goals for July:
-Keep working out

Q2 2021:

Q2 Progress

April + $8,498
May + $6,014
June + $3,767

Total Q2 Progress $18,279


Current Net Worth $492,499

Current SWR 3.65%

If I can duplicate Q2’s progress in Q3 & Q4 I will be able to close out the year at a 3.4% SWR I’m waiting for the market to finally drop and bring on the recession so I can enter the market again in a meaningful way. I’m looking for another job because my current job is just not doing it for me anymore.

Hey Starbucks your NW is pretty massive now. Congrats!

Since you have so much assets now have you thought about doing something like working part time or reducing your hours since your job is not doing it for you? Then focus on other things? Like more time for gym and health etc?

Star*Bucks wrote: ↑

Thu Jul 01, 2021 11:45 am

If I can duplicate Q2’s progress in Q3 & Q4 I will be able to close out the year at a 3.4% SWR I’m waiting for the market to finally drop and bring on the recession so I can enter the market again in a meaningful way. I’m looking for another job because my current job is just not doing it for me anymore.

I would caution you to have a plan B in the case that the market doesn’t drop. Many investors have been calling for a recession since the mid 2010s and we still haven’t had one. It’s quite possible that the extremely accommodative fiscal and monetary policies might continue to run the stock market hot for the foreseeable future.

thrifty++ wrote: ↑

Thu Jul 15, 2021 1:26 pm

Hey Starbucks your NW is pretty massive now. Congrats!

Since you have so much assets now have you thought about doing something like working part time or reducing your hours since your job is not doing it for you? Then focus on other things? Like more time for gym and health etc?

Hey Thrifty, Sorry for the late reply. YES, I am doing something and that is switching jobs. I have a pretty big interview this week and the job will be a pay cut but the benefits will make it so worth it. The new job has a really nice gym as well so working out will be convenient, assuming I'm hired which I think I'll be a shoe in. I'll keep this new job until the Covid thing is long gone. I'm happy whenever I see my net worth as well but I take it with a grain of salt because very little of it is invested in the market. Luckily I have good interest rates locked in so I am breaking even or slightly beating inflation now.

Hope all is going well with you Thrifty and you are staying cool out there.

white belt wrote: ↑

Sat Jul 24, 2021 10:24 am

I would caution you to have a plan B in the case that the market doesn’t drop. Many investors have been calling for a recession since the mid 2010s and we still haven’t had one. It’s quite possible that the extremely accommodative fiscal and monetary policies might continue to run the stock market hot for the foreseeable future.

Yes, my plan B is to get a new job with 2 retirement accounts that I can max out simultaneously. That way I can have tax free money going in there over the course of a few years and when/if the market does go down I will bring all the funds which are on stand by now (CD's & Savings accounts) and place them in the market as well. My job interview is this week and if I get it I hope that will be the change I need to add some zest in my life because things have been feeling a bit dull.

July 2021 Update:


Current Assets:
Cash $72,660
401k $4,736
IRA $43,137
Roth IRA $192,996
HSA $31,841
I.O.U. $70,000
Home $70,000
Car $12,000

Current Debts:
Credit Card -$1,558

Prior Months Net Worth $492,499
Current Net Worth $495,812

Net Worth Increase of $3,319

Prior Months SWR 3.65%
Current SWR 3.63%

Life & Finance:
Paid my 6 month auto insurance premium which cost $700. I also had a pretty big electricity bill due to running my AC constantly. We had a big heat wave that is hard for me to deal with. Really considered buying one of those portable AC units on wheels to help keep my bedroom cold so I can sleep. The house HVAC had difficulty keeping up with this oppressive heat.

I have an interview later this week for a job which would give me a pay cut but the benefits are excellent. My current job will not allow us to contribute to our 401k which pushes me in a high tax bracket and leaves me not able to save for the future. This new job has both a 403b & 457 which I can max both out plus max out an IRA. I hope they have an option for a high deductible healthcare plan so I can contribute to a HSA again. In order to max both those accounts out I’d be contributing the majority of each check. If I get the job I will keep my current job for my days off so I can have some money. I haven’t run the numbers out but just doing the math in my head all the tax money saved will offset the pay cut. This job has opportunity with career paths whereas my current job is a dead end job/gig with an upside of a good hourly wage plus overtime. Oh almost forgot the new job has company matching for the 403b.

I do have the uncomfortable feeling though. I’ve been at this job for 10 years. The job is easy to me and I know what to expect. This new job is a unknown and is leaving me with the butterflies in my stomach. I’m gonna jump in head first though and do my best as I always do because the benefits are unlike any I have ever had. My plan is to work there for 5 years (if I get offered the job) and max out everything all 5 years. Hopefully the market drops soon after I get hired so I can be entering the market as it goes down. I also plan to move money from my CD’s as they mature back into the market as well. When the 5 years is over the Corona Virus should hopefully be a thing of the past and I will have a strong financial base before I go and explore the world full time the way I always wanted to. During the 5 years I plan to take 1-2 trips annually.

Fitness/Health:
Been slacking on going to the gym this last week but I am going to start fresh today.

Fun:
Went to see my family and that was nice. I’ve been keeping my distance due to Covid but gotta say my niece & nephew look like they grew 2 inches taller since I last saw them.

Goals for July were:
-Keep working out

Goals for August:
-Get started at the new job, hopefully.

The new job sounds great!

And re the butterflies, always good to think that if the job doesnt work out, it doesnt really matter that much as you have a huge stash now. Benefits of FU money eh.

August 2021 Update:


Current Assets:
Cash $75,073
401k $4,711
IRA $43,246
Roth IRA $193,971
HSA $32,802
I.O.U. $70,000
Home $70,000
Car $12,000

Current Debts:
Credit Card -$1,071

Prior Months Net Worth $495,812
Current Net Worth $500,732

Net Worth Increase of $4,920

Prior Months SWR 3.63%
Current SWR 3.59%

Life & Finance:
Cracked the Half A Million mark for my Net Worth. Great Feeling! The new job is still processing my background check so still waiting on that but I may not take that job because I just got a $2.50 per hour raise which means the pay cut if I switch will be just that more deep. Those good benefits may not compensate for the pay rate difference, but we will see and stay open minded.

Fitness/Health:
With all the job applications which take forever and interviews I have seriously slacked on going to the gym and my sleep patterns are really off. I need to get back into a routine.

Fun:
None

Goals for August were:
-Get started at the new job, hopefully.

Goals for September:
Get back on a workout and diet routine.

Congrats on your NW! You are half way millionaire!

What is your NW goal these days? Still thinking in going nomad and travel for a while afterwards?

Frugalchicos wrote: ↑

Sat Sep 04, 2021 7:42 am

Congrats on your NW! You are half way millionaire!

What is your NW goal these days? Still thinking in going nomad and travel for a while afterwards?

Thanks! I probably would have already quit my job and been traveling like a minimalist backpacker around SE Asia but this pandemic put a wrench in everything. So I will continue to work and just put money away. In fact I feel more motivated than ever. The only goal moving forward will be to continue to save at as high a rate as I possibly can and to work on my health/weight. If any countries open up that are high on my bucket list I will go take a vacation. But, until this whole pandemic thing is sorted out I will stay home and work. Afterwards I do plan on quitting and traveling frugally and stress free as I originally planned.

September 2021 Update:


Current Assets:
Cash $82,882
401k $5,341
IRA $43,351
Roth IRA $195,401
HSA $30,930
I.O.U. $70,000
Home $70,000
Car $12,000

Current Debts:
Credit Card -$539

Prior Months Net Worth $500,732
Current Net Worth $509,366

Net Worth Increase of $8,634

Prior Months SWR 3.59%
Current SWR 3.53%

Life & Finance:
Really good month in regards to net worth increase. I didn’t have any major expenses so that’s probably what helped. I haven’t heard anything yet from my hopefully soon to be employer, but I guess background checks are taking longer than usual due to the pandemic. That being said I’ve been getting a second wind at my current job. As of today my $2.50 per hour pay increase took effect. Also we changed benefit providers and the new provider isn’t mandating us to take their plan which frees up a good amount of money that will now flow to my 401k. I can go back to purchasing a HSA approved health plan on my own and contribute to a HSA account again. No matter what happens with the jobs, I’m happy.

Another good part of purchasing healthcare on my own vs it being taken from my check is that I actually earn points on my Travel credit card that can go towards future trips!

Fitness/Health:
Haven’t gone to the gym once due to all the overtime plus time spent looking for new jobs online. I ended up gaining about 7 pounds. But over the last 3 days I really cleaned my diet up and dropped 2 of those 7 pounds. The main thing I did was cut out bread and rice and I’ve been really enjoying Quinoa. I plan to start going back to the gym and continuing to eat better because I am no longer spending time looking for jobs.

Fun:
Nothing

Goals for September were:
-Get back on a workout and diet routine. (FAILED)

Goals for October:
-Get back on a workout and diet routine.

Q3 2021:

Q3 Progress

July + $3,319
August + $4,920
September + $8,634

Total Q3 Progress $16,873


Current Net Worth $509,366

Current SWR 3.53%

I made more in September than I did in July and August combined! Looking to increase NetWorth for the remainder of the year in a big way. Possibly going to be able to contribute to my 401k again at work now that they got rid of that horrible benefits provider who didn’t make it possible for us to contribute to our retirement accounts. Obviously that pushed me into higher tax brackets and cost me money. I already sent a email asking about this and I will update here on next months progress report.

October 2021 Update:


Current Assets:
Cash $84,136
401k $10,375
IRA $43,460
Roth IRA $198,931
HSA $33,160
I.O.U. $70,000
Home $70,000
Car $12,000

Current Debts:
Credit Card -$864

Prior Months Net Worth $509,366
Current Net Worth $521,198

Net Worth Increase of $11,832

Prior Months SWR 3.53%
Current SWR 3.45%

Life & Finance:
Ok, so I’ve been living through a nightmare the last couple of months and it all started with me watching YouTube videos. I wanted to find ways to clean my home without the chemicals and there were plenty of YouTube videos on this topic. One main thing most people recommended was distilled white vinegar along with other things. Several women even stated that “you can even put vinegar in your washer machine and it will boost the power of your detergent and make your clothes and towels come out soft and smelling great.” Well, I went ahead and put white vinegar in the softener compartment of my front loading washer and I did three loads on that particular day. Well after the final load I smelled a real annoying smell in my home which is hard to describe. It was like off-gassing rubber and gasoline. I ignored it as I was busy and when I went to work my clothes smelled like it. I wear a cloth mask that I had also washed and it was ok at first but then disgusting as my day went on.

I came home and googled vinegar in washer machines and there are endless blogs stating to do it and it’s great, but then I found a consumer reports article stating DO NOT put vinegar in your washer machine as it can damage it especially the High Efficiency machines like I have. I tried a bunch of things like running cleaning cycles with this puck that is made to clean out washer machines. Every time I think the machine is ok I wear the clothes outside of my home and they begin to off gas kinda like new furniture; especially in the heat. So I decided I made a mistake and I will just hand wash some clothes to see how that works. The smell did not leave, and I’m assuming it’s because I still dried them in the dryer where the smell probably has a strong hold. What’s worst of all is that I put on clothes that were never in the wash machine and they had that smell also! I believe the smell was moved around my house by the HVAC system.

The one bright side is that I took a load of clothes to a laundromat to see if their machines could take the cursed smell out of my clothes and Thank God it did! So this washer and dryer lasted almost 15 years & it would have lasted much longer if it wasn’t for me trying to fix something that isn’t broken. Well the game plan is to buy a new washer dryer during the Black Friday sale. In the meantime I will be taking all of my clothes to the laundromat. Also I will need to wash all the soft fabrics in my home including shampooing the carpets and washing blankets sheets wiping down walls/doors etc. I’ll take this opportunity to give things away and reduce clutter. The only thing that could really piss me off is if that smell is stuck in the HVAC system. I already changed the filter in the system and I haven’t turned it on since I found out what was going on. This has been 2 months of absolute hell.

To my understanding the strong vinegar ate away/burned off the inner lining of the internal rubber hose that delivers water and detergents to the drum of the washer. So every time I run the washer foul water goes into the drum to clean my clothes but I can’t tell because my detergent smell is so strong. Then when I put the clothes in the dryer the dryer sheets smell is strong. It’s not until I go outside and my body heat or the relative heat outside bring out the musty gassy smell. I’m also assuming the smell came from the dryer burning/heating this smell and the HVAC picking it up and circulating it everywhere.

I had purchased these metal straws that have silicone tips just so I didn’t have to use disposable straws. I went to use one of the straws for the first time and the silicone tip had the smell in it and it was Strong. I immediately washed all the straws. I just guess some materials will latch on to scents more than others.

Oh another note, I was offered that job that I was really excited about. But they low balled me on the starting pay rate. I tried to counter offer the starting rate and they responded basically stating I’d need to come in at that rate. So I sent a very respectful email declining the job offer.

Some good things happened with my current job though. Almost a $2.50 per hour pay increase and I am able to contribute to my 401k, finally! There are 4 pay periods left to max out my 2021 401k contributions so I’m contributing 99% of my check. I hope that will do it to get me to $19,500. I plan to continue the 99% in the first few months of 2022 as well; until I max it out. I can’t believe this company failed to allow us from being able to contribute. They were just too lazy, cheap, or both to set it up until now. What a waste!

I sold and locked in a 37% return in my Vanguard Roth IRA. I was invested in 2 different Energy Funds VGENX & VDE. I then purchased the Total Bond Fund VBTLX. I also set up my 401k to invest in the Total Bond Fund VBTLX as well. I know it’s not good to "time the market" but I don’t want to buy in at the high either. We are overdue for a correction/crash and I will go back into the market when that happens.

Taking a step back and looking at this year which had the capacity of being the best net worth increase year of my life; especially because I’m going to shelter most of the money I’m going to make for the remainder of the year. But, because I will have to buy a new washer & dryer, a new carper shampooer with attachment so I can shampoo my couch & car seats, new iPhones since mine is 4 years old and acting up and don’t forget couple grand in property taxes in December. All of this money will be spent from my savings because I have 99% of each future check being placed in my 401k. Being as frugal as I am this is gonna be a tough few months.

Fitness/Health:
Other than my walks at work this has been a big fail.

Fun:
Bought a few colognes from back in the day. The sense of smell can bring back really good memories. Found great deals online so, why not! Other than that not much fun was had.

Goals for October were:
-Get back on a workout and diet routine. (FAILED)

Goals for November:
-Get back on a workout and diet routine.
-Get a great deal on Bissell Pro Heat 2x Carpet Shampooer
-Buy New iPhones

November 2021 Update:


Current Assets:
Cash $82,773
401k $19,543
IRA $43,566
Roth IRA $199,554
HSA $32,487
I.O.U. $70,000
Home $70,000
Car $12,000

Current Debts:
Credit Card -$2,977

Prior Months Net Worth $521,198
Current Net Worth $526,946

Net Worth Increase of $5,748

Prior Months SWR 3.45%
Current SWR 3.415%

Life & Finance:
Purchased washer/dryer for $1,700. They are so back logged that it won’t be delivered/installed for another couple weeks. I have been deep cleaning my home and that smell is still there but it is reducing. I’ve thrown away a lot of items which the smell seems to have stuck onto and I’ve been washing the blinds, all the walls, doors, etc. I even got up on the counters and cleaned the dust on the top of the kitchen cabinets. From what it seems the smell latched onto plastics and dust particles. I have not purchased a carper shampooer yet and I still may but while at the store buying the washer/dryer I stopped to speak with the flooring people. I may just get rid of the carpets all together and just buy vinyl flooring. I’m still weighing the pros and cons.

Well I have just returned home from an interview. It’s similar to that last job I was offered but it is here locally so no need for me to relocate. There is a 403b and 457! I’d love to max both out on top of a IRA. The best part of this job is because of the work schedule I will easily be able to hold onto my current job. Keep your fingers crossed for me

It is now December 2021 and the first payment of 10k from the loan I gave my brother is due. The next 4 Decembers will have a payment of 15k each for a total of 70k. It will be nice having that money in my own accounts again.

Fitness/Health:
None

Fun:
None

Goals for November were:
-Get back on a workout and diet routine. FAIL
-Get a great deal on Bissell Pro Heat 2x Carpet Shampooer FAIL
-Buy New iPhones FAIL

Goals for December:
-Buy New iPhones

Have you considered using an ozone machine on the smell? They are cheap on amazon. I am not an expert but they are used for removing smells. They do leave behind their own smell, like a pool chlorine smell, but it is supposed to go away with fans/ open windows. Might make it better, might add a new worse smell! Just something to look into.

Gilberto de Piento wrote: ↑

Thu Dec 02, 2021 9:21 am

Have you considered using an ozone machine on the smell? They are cheap on amazon. I am not an expert but they are used for removing smells. They do leave behind their own smell, like a pool chlorine smell, but it is supposed to go away with fans/ open windows. Might make it better, might add a new worse smell! Just something to look into.

That is a Great idea! I saw one of those used in a car detailing video on YouTube a while back and the professional detailer used it to remove the smoke and other smells from the interior of the vehicle. I tried ordering one just now but I live in California and they have been banned here since 2010! Just as my luck would have it. I seriously considered jumping in my car and driving to Reno just to pick one up there and bring it back but again with my bad luck I'll get stuck in the snow and I only drive a Prius.

So just gonna continue to clean up as time allows. Deep cleaning over and over and hopefully I can remove this smell in due time.

Have you looked at renting a carpet shampooer? That's a lot less expensive than buying one, and when you are done, you aren't stuck storing the shampooer. Or maybe you know someone who has one they will loan to you.

shaz wrote: ↑

Fri Dec 03, 2021 5:58 pm

Have you looked at renting a carpet shampooer? That's a lot less expensive than buying one, and when you are done, you aren't stuck storing the shampooer. Or maybe you know someone who has one they will loan to you.

Too Late!! lol I've rented shampooers before and it's stressful because I only have 24 hours to do everything and lugging the thing from the store and back sucks! I also don't know anyone with a shampooer. I think it will be good to own one so that I can shampoo my carpets anytime I want. Even if I just want to shampoo the high traffic hallway I can pull it out and do it and will be very convenient. Now I will be the friend with the shampooer to loan out lol

December 2021 Update:


Current Assets:
Cash $90,037
401k $28,483
IRA $43,676
Roth IRA $199,889
HSA $31,641
I.O.U. $60,000
Home $70,000
Car $12,000

Current Debts:
Credit Card -$1,777

Prior Months Net Worth $526,946
Current Net Worth $533,949

Net Worth Increase of $7,003

Prior Months SWR 3.415%
Current SWR 3.37%

Life & Finance:
Paid over 2k in Property Taxes. Finally purchased a really good carpet shampooer for just under $300. Hopefully that will help alleviate the smell in my home. I’m waiting for a warm day to shampoo the carpets otherwise they will take forever to dry. I’m also going to purchase a pump sprayer soon to fill with bleach and water and I plan to spray all the drywall in my house. I have a feeling the smell is stuck in the drywall, carpets, and couches. If all of this stuff doesn’t work I will eventually go to Reno and get an Oxygen Generator to eat up all of this smell.

Purchased a new Washer & Dryer at the end of November on a Black Friday special. Due to 2 mistakes made by the store the delivery and install will happen this Monday after 2 failed attempts. It will be good not having to go to the laundromat anymore.

I was offered the new job and my start date should be sometime in February. I am under the assumption that there is a 403b & 457 available. I will take full advantage of both to reduce my tax liability. The best part is that there is a pension which I can take part in so long as I stay for 5 years minimum. I may just stay working for those 5 years so that I can be vested for the minimum pension payment. I can’t backpack around the world the way I wanted to because of the pandemic so I may as well keep stacking and lock in a life time payment to go with my social security and my investments.

If I worked 5 more years and had a conservative 70k net worth increase average over those years then my SWR would end up being 2% and I’d have a pension + social security locked in. This balance would ensure to a high degree I wouldn’t have to go back to work. Once I leave these trenches I don’t ever want to go back.

I purchased new iPhones for my mom and sister on a buy one get one free deal. I added 2 new lines of service to my account for my niece and nephew and they will be using my mother and sisters old phones. I was able to change my phone plan after 4 years of being on the same plan and I’m actually saving money even after the addition of 2 lines due to newer call plan and taking advantage of a special.

My brother paid the first 10k towards the 70k loan I gave him. Now for the next 4 years every December he will give me 15k to finish paying back that loan.


Fitness/Health:
Unfortunately I haven’t worked out and my food choices have been bad. Dealing with this smell in my house and going to visit family for the holidays has really taken up most of my time. Not to mention my last day off was back in October so I’m working like crazy.

Fun:
Went to hang out with my family for Christmas. It was good to see everyone.

Goals for December were:
-Buy New iPhones DONE

Goals for January:
-Get all the info on the benefits offered from the new job
-Spray all the drywall in my house & shampoo the carpets
-Get back in the gym on a consistent basis