Hristo's FI Journal

Where are you and where are you going?
Post Reply
Hristo Botev
Posts: 1734
Joined: Tue Jul 17, 2018 3:42 am

St. John Paul II

Post by Hristo Botev »

"Do not be afraid. Do not be satisfied with mediocrity. Put out into the deep and let down your nets for a catch."

Hristo Botev
Posts: 1734
Joined: Tue Jul 17, 2018 3:42 am

Re: Hristo's FI Journal

Post by Hristo Botev »

Feeling a little down and in need of some spreadsheet therapy, I decided to adjust the spreadsheet I've been using since January 2016 to track net worth to include estimated car value, with depreciation, in the net worth calculation. Previously, I'd been counting car loans as a negative (back when I had a car loan), but I hadn't been offsetting that loan with the corresponding car value; I think my rationale was that cars suck, and so I didn't want to count them as net worth assets. Well, cars still suck (but they are unfortunately necessary so long as we have little kids involved in various after-school activities), but I've been bummed with the hit our net worth took back in the spring thanks to all the moving costs, closing costs, etc. we incurred with the move from the old, big house to the new, smaller townhouse. So, what the hell. We've got a 2015 Nissan Leaf we paid about $8K in cash for in early 2017, and we've got a new Honda CRV we paid about $27,700 in cash for this summer. Factoring in deprecitation (by which I mean, whatever Edmunds.com says to expect for depreciation over 5 years), this new net worth calculation has us back over the half-a-million-dollar net worth mark (voila!). It may be totally artificial, but I feel better thanks to the exercise, so there.

[Revised] October 2018 net worth numbers

Net worth w/o house: $324,799.00
Net worth w/ house: $501,457.44
% of [adjusted] $1.8m target net worth: 27.8%
Net worth change from last month: ($15,850.38; still a crappy month for indexes)
Monthly PPI from total net worth: $1,671.52
"True" PPI (excluding house, 529 from net worth): $1,020.12

suomalainen
Posts: 979
Joined: Sat Oct 18, 2014 12:49 pm

Re: Hristo's FI Journal

Post by suomalainen »

Funny. I used to get comfort from some spreadsheet monkeying too. Now it just bums me out, so I look at it a lot less than I used to. I think it's because it was too much like watching grass grow. I kept wanting to see a lush lawn the day after I had spread the seed.

Hristo Botev
Posts: 1734
Joined: Tue Jul 17, 2018 3:42 am

Re: Hristo's FI Journal

Post by Hristo Botev »

Not real happy with Fitbit right now. Good lesson in how disposable so much of this electronics junk is built to be. DW bought a Fitbit Charge a little less than 2 years ago at a discount through her employer when they were doing a fitness challenge thing. I ended up with the watch, and got to like wearing it, both for tracking runs and for the text/call notifications. A couple months ago, however, the screen cracked right down the middle, unprompted by any external forces that I'm aware of. The watch still works, but it's unsightly and not something I want to wear unless I'm going for a run. I called the customer service and was told that because it's past the 1-year warranty, all they can do is offer me a 25% discount on a new Fitbit device; there's no way to repair the cracked screen. I poked around online a bit and apparently these cracked screens are a frequent problem for the Fitbit Charge, and the 25% discount is Fitbit's standard reply when someone calls with a cracked screen.

At that price point, a watch really shouldn't be viewed as disposable. I've got a 10-year-old Timex that cost a fraction of what the Fitbit did, and it's as pristine as it was the day I bought it.

Anyway, these sorts of experiences serve as good reminders of what a scam so much of this consumerist stuff is. I don't need a fitness tracker; and when I find myself with a broken fitness tracker, the response certainly isn't to buy a new fitness tracker from the same company that sold me the broken fitness tracker. What a scam.

Quantummy
Posts: 18
Joined: Thu Jun 14, 2018 10:39 pm

Re: Hristo's FI Journal

Post by Quantummy »

Enjoy the journal and definitely agree on the lack of need for fitbits and appreciation for the trusted Timex watches - although they too seem to be disposable. I also seem to get only about half the longevity out of them.

Hristo Botev
Posts: 1734
Joined: Tue Jul 17, 2018 3:42 am

Re: Hristo's FI Journal

Post by Hristo Botev »

The attempt at shaving my dog did not go well, and we ended up sending the dog to the groomer prior to Thanksgiving guests arriving, as our house can quickly fill up with dog hair when the dog isn't shaved. Hoping to give dog grooming another change in the future. Not sure how to keep my dog from squirming around and trying to bite the clippers.

Gilberto de Piento
Posts: 1942
Joined: Tue Nov 12, 2013 10:23 pm

Re: Hristo's FI Journal

Post by Gilberto de Piento »

Not sure how to keep my dog from squirming around and trying to bite the clippers.
Dog groomers use a grooming table. It is a table with a metal arm to hold a leash. Just don't leave the dog unattended on it as they can hang themselves. I think you can buy just the arm and mount it on a normal table.

Hristo Botev
Posts: 1734
Joined: Tue Jul 17, 2018 3:42 am

Re: Hristo's FI Journal

Post by Hristo Botev »

I think I'm going to sell my Surly Cross-Check, which is the bike I was riding when I had my accident back in August. I bought the bike because my Craigslist 1980s True-Temper steel Schwinn road bike just wasn't cutting it as a reliable workhorse commuter to handle my daily 12-mile round-trip commute.

The Surly turned out to be the absolute perfect bike for me to go fast, comfortably, on my 12-mile round-trip commute in any weather conditions while also being able to handle carrying a change of clothes, toiletries, my laptop, and whatever other work stuff I needed to take to/from work.

Now, however, my commute is only 2 miles round trip, or 6 miles when I take the kids to school. And since buying the Surly, I converted the 1980s Schwinn into a really nice townie/bar bike, with upright handlebars and a big Wald basket on the front. I also replaced the brakes, derailleur, and wheels on the Schwinn, so it's now just as reliable as the Surly. And it's perfect for 1 to 4-mile trips around town. So I think I'm going to move the dynamo lighting system from the Surly to the Schwinn and sell the Surly; making the Schwinn my primary (and only) bike.

I can't really think of a reason not to sell the bike. And I know DW would appreciate me getting rid of the bike I was riding when I was in the accident, as she now has it in her mind that any bike with drop handlebars is dangerous. Also, after my accident my thinking was that I would just use the Surly for longer, non-commute rides anyway--relying on the Schwinn as the daily commuter. But not surprisingly, given the accident, DW isn't really on board (at the moment) with me doing any recreational, non-commute riding. So what's the point of keeping the bike? I don't see a lot of 50-miles weekend rids or bikepacking trips in the near future. And the Surly isn't really the right bike for those sorts of rides anyway.

Quantummy
Posts: 18
Joined: Thu Jun 14, 2018 10:39 pm

Re: Hristo's FI Journal

Post by Quantummy »

I was hit on an 80's MTB converted to sweet commuter (welded dropout extensions paint touch up etc.) that totaled it and replaced it with a Surly. I like the Surly but not as much as the totaled bike. If you don't want to keep the Surly for backup (e.g. You are ready to ride to work in morning and the Schwinn has a flat), or for a guest or one of your kids to ride, then probably worth selling if you get a decent price. If you can't get much for it and storage is not a problem, then you may want to just keep it.

Hristo Botev
Posts: 1734
Joined: Tue Jul 17, 2018 3:42 am

Re: Hristo's FI Journal

Post by Hristo Botev »

Quantummy wrote:
Wed Nov 28, 2018 9:05 am
If you can't get much for it and storage is not a problem, then you may want to just keep it.
Sorry to hear about the totaled bike. My version of bike porn is seeing pictures of old 80s MTB and road bikes built up as commuters and Rivendell-style townie bikes. I love seeing those old bikes being re-purposed and given a new life. And those old steel frames are so durable and comfortable.

I think I'll start with just stripping the Surly of the dynamo lights and back rack, and moving it over to the Schwinn. And then I'll see if I'm still on board with selling the Surly in a couple weeks. I think I could get about $600 for it, which would be worth it. And although storage isn't really an issue, it would be nice to just free up a little bit of space in the garage. My only hesitation is that the Surly really is a great bike as an all-around workhorse. In addition to being a daily commuter, I've loaded it up for bikepacking and gone on 50-mile road rides where I've been able to keep up with guys on carbon road bikes (though, admittedly, I was usually towards the back of the paceline). It's just a great bike if you are only going to have one bike.

So maybe the better option would be convert the Surly into a townie with the parts I've got on the Schwinn. It wouldn't look as cool; but it would mean I wouldn't have to worry about moving the dynamo lighting system. And I definitely like that the Surly can take massively wide tires, whereas the best I've been able to do with the Schwinn without rubbing on the fenders is size 28s.

I just don't know.

Hristo Botev
Posts: 1734
Joined: Tue Jul 17, 2018 3:42 am

Re: Hristo's FI Journal

Post by Hristo Botev »

Still waiting on DW to finalize the November spending numbers. Here're the net worth numbers.

November 2018 net worth numbers

Net worth w/o house: $336,443.25
Net worth w/ house: $513,437.12
% of $1.8m target net worth: 28.5%
Net worth change from last month: $11,979.68
Monthly PPI from total net worth: $1,711.46
"True" PPI (excluding house, 529 from net worth): $1,056.07

Hristo Botev
Posts: 1734
Joined: Tue Jul 17, 2018 3:42 am

Re: Hristo's FI Journal

Post by Hristo Botev »

November 2018 savings rate numbers

Total after-tax income: $19,490.54
Total expenses: $10,578.52
Surplus/profit: $8,912.02
Savings rate: 45.72%
NW needed to cover expenses: $3,173,556.00
[S]WR based on total NW: 24.72%
[S]WR based on total NW, excluding home and 529 accts: 40.07%

45.72% is certainly better than last month's 35%, but there's really no reason we shouldn't consistently be above 50%.

Hristo Botev
Posts: 1734
Joined: Tue Jul 17, 2018 3:42 am

Re: Hristo's FI Journal

Post by Hristo Botev »

Breaking down the $10,578.52 in spending, which is always a sucky exercise. Only excuse I've got is that we hosted family for Thanksgiving, which resulted in higher than average alcohol (though our alcohol average is already pretty damn high) and food.

Mortgage (excl. principle): $1,589.87
HOA: $200
Utilities: $158.29
Cell Phones: $51.30
School Tuition: $1,517.60
Kids' Aftercare/Camps: $1,511 (mostly paying for summer 2019 camps)
Dog: $553.54 (mostly annual vet visit, but also grooming, boarding, and food)
Grocery/Home: $858.32 (ouch)
Restaurants: $532.76 (ouch)
Alcohol: $315.96 (more ouch)
Car Insurance/Gas: $104.62
Clothing/Dry Cleaning: $271.85 (none of this is me, naturally; whoever said running was an inexpensive hobby is full of it)
Entertainment/Gifts/Personal/Kids' Rec: $1,406.27 (this has become our "misc." category; this is mostly gifts and Christmas stuff this month, but also paying for some upcoming family travel)
Internet: $19.99
Life Insurance: $59.15
School Stuff: $193.45 (school lunches and something called a "technology fee")
Gym Memberships: $228.96 (my wife cancelled her expensive gym membership and joined a cheaper one, so of course we got charged by both gyms)
ATM: $163.50
Cleaning: $130 (still paying the cleaning lady to come once a month)
Prof'l Sports Team: $686.10 (these guys seem to get a lot of our money)
Allowance: $16
Spotify: $9.99

Hristo Botev
Posts: 1734
Joined: Tue Jul 17, 2018 3:42 am

Re: Hristo's FI Journal

Post by Hristo Botev »

Something I heard Jordan Peterson say this morning as I was getting ready for work in one of those millions of YouTube videos out there from his lectures: "What you aim at determines the way the world manifests itself to you." So, if you're seeing nothing but negative, etc., you have to ask what you are aiming at that is resulting in the world manifesting itself to you in such a negative way.

Hristo Botev
Posts: 1734
Joined: Tue Jul 17, 2018 3:42 am

Re: Hristo's FI Journal

Post by Hristo Botev »

Prompted by this fascinating opinion piece: https://www.nytimes.com/2018/12/07/opin ... e=Homepage, I'm now reading David Sax's "Revenge of Analog." It's interesting, and I think there are some parallels between the analog thing and the ERE thing, if only realizing that every new, shiny, technological wonder that comes along doesn't necessarily make our lives better than before. And there's nothing necessarily holding us back from adopting a more analog lifestyle, because there's no reason why we can't go digital when it makes sense to. We don't have to choose one or the other, and amazingly, despite all the reports that digital would kill analog (whether in music, or media, or gaming, or correspondence, etc.), it actually hasn't, at least not yet. E.g., 99% of my written correspondence is going to be via e-mail, but for some things a handwritten note on personalized stationary just makes more sense. And perhaps it makes sense to mostly shut off online media and actually focus on a small handful of print media sources (like professional publications, and a magazine subscription or two).

Hristo Botev
Posts: 1734
Joined: Tue Jul 17, 2018 3:42 am

Re: Hristo's FI Journal

Post by Hristo Botev »

Hristo Botev wrote:
Tue Nov 27, 2018 3:14 pm
I think I'm going to sell my Surly Cross-Check, which is the bike I was riding when I had my accident back in August.
Surprisingly, DW talked me out of my plan to sell the Surly; though I think she did so because she suspected that me selling the Surly was just a step in a sneaky plot to convince her to let me buy a proper road bike (which, if I'm being honest with myself, it kinda was). So, anyway, I still have both the Surly and the Schwinn, and I just bought some cheap "be seen" lights from Wal-Mart for the Schwinn that take readily available AAA batteries and can't be stolen without someone at least having an allen wrench on them. I kept the dynamo system on the Surly because moving it to the Schwinn would have been too much of a hassle.

On a related note, it really shouldn't be such a hassle and an expense to get a bike with a dynamo lighting system. They are so stinking convenient. You NEVER have to worry about lights--charging them, removing them so they don't get stolen, replacing them, even turning them off and on--you just get on your bike and start pedaling. I know they used to be more standard on bikes in the US, like decades ago. But it really is a shame that you've got to spend several hundred dollars to retrofit dynamo lights on a bike.

jacob
Site Admin
Posts: 15907
Joined: Fri Jun 28, 2013 8:38 pm
Location: USA, Zone 5b, Koppen Dfa, Elev. 620ft, Walkscore 77
Contact:

Re: Hristo's FI Journal

Post by jacob »

If you just want to be seen, I've used these in the past. They are also what every bike used to come with. It is really convenient not having to think about lights. https://www.amazon.com/Generator-bicycl ... 00H3RDVKO/ (random example)

Hristo Botev
Posts: 1734
Joined: Tue Jul 17, 2018 3:42 am

Re: Hristo's FI Journal

Post by Hristo Botev »

Does it just rub up against the sidewall of the tire?

jacob
Site Admin
Posts: 15907
Joined: Fri Jun 28, 2013 8:38 pm
Location: USA, Zone 5b, Koppen Dfa, Elev. 620ft, Walkscore 77
Contact:

Re: Hristo's FI Journal

Post by jacob »

Yup. There's a lever so you can click it on and off from the tire. They used to be wired inside the frame but you can just ziptie the wires now unless your frame comes with holes. It's nice not to have to worry about where your primary transport has lights on it. The light output is weak though (obviously gets better the faster you go, but when you stop, it's gone. You can wire some capacitors in, technically.)

You can be seen but you can't see much.

Hristo Botev
Posts: 1734
Joined: Tue Jul 17, 2018 3:42 am

Re: Hristo's FI Journal

Post by Hristo Botev »

Interesting. Certainly a helluva lot cheaper than having a wheel built around a dynamo hub.

Post Reply