Plunging in at 48 - NC US

Say hello!!
Post Reply
User avatar
Michael_00005
Posts: 89
Joined: Thu May 04, 2017 12:26 pm
Location: East coast USA

Plunging in at 48 - NC US

Post by Michael_00005 » Thu May 25, 2017 3:06 pm

I read MMM in an article over a year ago, and was very interested in ER and FI. At the age of 48, it can no longer be called ERE. Then read, JL Collins, and the first article on This site hit home again in a big way “Wanting Out”. Thanks for sharing everyone!

User avatar
GandK
Posts: 1946
Joined: Mon Sep 19, 2011 1:00 pm

Re: Plunging in at 48 - NC US

Post by GandK » Wed May 31, 2017 5:37 pm

Welcome!

You should start a journal and chronicle your progress here. Who knows? It may encourage someone else the way you've been encouraged.

User avatar
Dragline
Posts: 4450
Joined: Wed Aug 24, 2011 1:50 am

Re: Plunging in at 48 - NC US

Post by Dragline » Wed May 31, 2017 8:10 pm

Yeah, you're still a whippersnapper compared to some of us.

User avatar
Michael_00005
Posts: 89
Joined: Thu May 04, 2017 12:26 pm
Location: East coast USA

Re: Plunging in at 48 - NC US

Post by Michael_00005 » Mon Jul 23, 2018 5:54 pm

2016, partially in, from books and MMM site, I purchased the lowest priced home I felt comfortable living in (Nov. 2016), so no mortgage.

May 2017, was my official all-in starting month, although I've been moving in that direction for around a year.

2017 total spending was under $19,000, but that includes a home that is paid off. Over $3,000 was travel, which is a LT investment believe it or not, and ~$1,000 in home improvements.

2018, year to date spending is $6,600, with $2,000 being home improvements. Some of the more expensive items hit later in the year: home taxes, insurance, and more travel. Two free round trip tickets this year from a visa offer, the 2nd half will be paid trips.

It's really not been a strain; cut grocery bill in half, no longer buy over-priced chai lattes or smoothies at work, stopped impulsive clothes, and home depot shopping. For the last few years I rarely eat out, but less now. Entertainment is free: volleyball, running, gardening and other low to no cost endeavors.

Well placed donations are an investment, so that will not be cut, some cut that cost in error... personal belief. My take on life is that it's a lot like our wealth building phase in this life, economize and work hard early and you will be rewarded later. Only the currency will be different, and actions being the assets or debts.

User avatar
BRUTE
Posts: 3546
Joined: Sat Dec 26, 2015 5:20 pm

Re: Plunging in at 48 - NC US

Post by BRUTE » Mon Jul 23, 2018 11:44 pm

wow! great job cutting spending.

User avatar
Michael_00005
Posts: 89
Joined: Thu May 04, 2017 12:26 pm
Location: East coast USA

Re: Plunging in at 48 - NC US

Post by Michael_00005 » Thu Aug 09, 2018 1:11 pm

Thanks Brute.

I did forget to add auto deductions for 2018 YTD numbers, so $70 more per month parking + donations come out of paycheck.

So estimated expenses of 16.5 K per yr 2018
2.5 K is traveling
2.5 K is home improvements

Post Reply