Hello, I've been visiting Jacob's site for a couple years and bought the book soon after it came out. I really dig this site and has helped solidify my aspirations to get out of the rat race. I am not going to work for the next 30 years holed up in an soul-sucking office slowly dying from recycled air. Thanks Jacab for putting this out.
For the INTJ's, my demo:
Single, never married no kids
Gross income about $51K
My goal is to get enough dividend income coming in to get me to FI. My (half) duplex should be paid off in 3-4 years if everything goes right. After I get FI, say about $10K per year coming in, I plan to travel around the world teaching english and visiting new places. Ideally, I would let the $9K compound while I cover basic living expenses from teaching and such. Every year I do this I bank a year. If I wanted, I could take a year and dig up ruins in Turkey if I wanted. This is very appealing.
Below is a typcial monthly budget. I do not watch the budget, but it falls in line every month. I put 19% ($9,600 per year) in a 401K, about 50% stocks and 50% high yeild bonds. Current 401k balance is $80k. In addition, I invest about $1,000 per month of after tax income into a mix of Roth IRA, individal accounts of which mostly are high yeild bond funds, and additional mortgage principle. My favorite bond fund is SPHIX.
AT Income 2300
House -600 (PMT is $410)
car main -10
Surplus of 783
I still owe $39K on the mortgage. Hopefully I'll have a roomate soon that will contribute $350 to the principle which will help get this paid off in 3-4 years. Where I live the buses are free and there is a bus stop in the front yard. I after paid off, I can generate about $650pm income from the property. Ideally after I become FI, it would not need a car if I decide to stay around.
I backpacked around the world when I was younger and know how cheap I can live overseas. I love the experience of the new culture. Since there is zero propects of wife, kids, ect, I'm going to do this. I'm open to feedback and any suggestions to help me get to FI faster.