FI in 10 years

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cmonkey
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Re: FI in 10 years

Post by cmonkey » Mon Oct 26, 2015 12:47 pm

Sorry to hear about the change in commuting. Commuting sucks no matter what (unless its a 5 minute bike ride). If public transit is not an option perhaps a different driving route with less traffic? No need to take the mains if the sides will only add 10 minutes and it means less stress.

I can relate to the feeling of being on vacation and logging in. I was out all last week yet still had to log on for about 30 minutes to take care of something. Critical path item or something... Being back today after a week out is a real drag although I have had worse Mondays.

Hankaroundtheworld
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Re: FI in 10 years

Post by Hankaroundtheworld » Mon Oct 26, 2015 1:14 pm

Sounds like your house value is your ticket out (into ERE), of course, assuming you want to live somewhere else (more cheaper), but 1M USD in House value, wow!, that will allow you to make 2020 as ERE date quite easily !

steveo73
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Re:

Post by steveo73 » Mon Oct 26, 2015 5:41 pm

El Duderino wrote:That is a real bummer about having to go from biking 5 minutes to a longer drive. Substantially greater costs (on several levels) with that arrangement. Any alternatives?

If your son is starting school next year, would your wife be able to pick up a job in education or something where she is able to work similar hours to those he would be away?
Yes - it really sucks if I have to commute more. I am sitting at home now when I should be at work. I'm working from home. I have a team of about 5 -6 staff and everyone prefers the current work location. I'll have to see what happens but maybe we can push to stay where we are.

I wish my wife could work in education but she doesn't have that skill-set.

steveo73
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Re: FI in 10 years

Post by steveo73 » Mon Oct 26, 2015 5:46 pm

cmonkey wrote:Sorry to hear about the change in commuting. Commuting sucks no matter what (unless its a 5 minute bike ride). If public transit is not an option perhaps a different driving route with less traffic? No need to take the mains if the sides will only add 10 minutes and it means less stress.

I can relate to the feeling of being on vacation and logging in. I was out all last week yet still had to log on for about 30 minutes to take care of something. Critical path item or something... Being back today after a week out is a real drag although I have had worse Mondays.
I will catch public transport for sure. I will not drive to work as its just a waste.

My work as far as work goes is pretty good although the last year has been way too intense. I think its now manageable but I will continue to push to do less and less. I have a really good team. They work hard and are now good at their jobs. I suppose as a manager I don't care what they do - turn up or don't turn up. I think that makes it a nicer environment for them. In stating all of that sometimes I prefer when I used to actually code and deliver stuff. I still sometimes analyse a problem and try to fix it and I can enjoy that somewhat.

In stating all of that the final point is that I really just don't like work. I'm not like Jacob or someone who wants to go back to work. I'd rather just stay at home and do what I want to do every day.

steveo73
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Re: FI in 10 years

Post by steveo73 » Mon Oct 26, 2015 5:54 pm

Hankaroundtheworld wrote:Sounds like your house value is your ticket out (into ERE), of course, assuming you want to live somewhere else (more cheaper), but 1M USD in House value, wow!, that will allow you to make 2020 as ERE date quite easily !
Its worthless though if I stay where I live now. Seriously its a scam. My net worth is high but unless I downsize it really means nothing. I don't consider my house as part of my net worth with regards to FI. I view my expenses and then my FI assets which do not include my house. The house has some advantages - no rent and therefore a hedge against increased rents in the future. Its also a buffer with regards to my assets. We could always downsize.

My youngest son is 5. If we choose to stay where we live now until he finishes school its more like 15 years away until we move. I also like the area we live in. There are heaps of bike tracks and the area is really well designed for a nice lifestyle. Its clean and nice with heaps of facilities (free BBQ areas/parks etc).

I actually think 2020 is now a massive stretch however that could change. I want to get to a portfolio value of about 800k + the house paid off + some buffer. I suppose its just a matter of just enjoying the life that I have now. I suppose I have it good (as probably do all or most of us).

steveo73
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Re: FI in 10 years

Post by steveo73 » Tue Nov 03, 2015 1:15 am

I think that there are more people getting the sack in my team. Its really tough at the moment. I'd like to last another 5 years but who knows what will happen.

steveo73
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Re: FI in 10 years

Post by steveo73 » Wed Nov 04, 2015 2:49 am

A bunch of people lost their jobs today. It happened a couple of months back and now it happens again. I just think my job is at a massive risk.

Interesting 2 guys who are both 55 lost their jobs. One of the guys is frugal and will be fine. The other guy I mentioned on this journal last time the sackings came through. He had a mortgage at that point. I assume that he still has it. Makes you realise how important becoming FI really is.

steveo73
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Re: FI in 10 years

Post by steveo73 » Tue Nov 24, 2015 4:24 pm

More updates on how crap my job is at the moment. I've been sacked from a project that I am working on and been told that I need to move into the city with the additional longer commute. I don't have a start date yet. I've lost my team because I've lost that project and it has taken me a while (6 months) to get the team functioning well. I also really like the guys that I have working with me.

I wish they would actually sack me because I hate it so much but I don't get a choice.

I've re-done my figures again and networthify is stating that I should hit my number in 3 1/2 years. Admittedly this is based upon a 5% return which could be down in reality. I also change my WR to 5% and not 4%. Still this gives me some hope.

My wife though has been approved to work part time. She starts this in 8 weeks time. That will be good for her.

I'm not really worried about the 5% WR as I expect that my wife will continue working part time or I will work part time or we can relocate or something. It also doesn't include an social security or inheritance.

DutchGirl
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Re: FI in 10 years

Post by DutchGirl » Wed Nov 25, 2015 9:22 am

Hi Steveo,

That sucks, indeed. :-( . Is there a way for you to explore other job options? Quitting this job, and finding another with a similar paycheck but less travel time and a more stable environment? Or maybe with a bit less salary but the increased stability and less work stress?

I'm sure it's great where you currently live, but I think you and your family could be very happy elsewhere, too, where life is cheaper and nature is awesome, too. (I'm pretty sure those places exist, also in your country). Maybe you have become a bit blind for that option, because you are just so used to where you are now? Sometimes I feel like you claim to be stuck in a specific situation, when I think you're not stuck at all. You have a lot of options. You may still choose to stick with your current situation, at least for now, but I think you have more options and more freedom than you think you have. And that's nice :-)

steveo73
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Re: FI in 10 years

Post by steveo73 » Wed Nov 25, 2015 4:05 pm

Hi DutchGirl - thanks for the comments.

I could get another job. That really isn't a problem. I think though if I take out the emotion my current job will enable me the most time to work as little as possible. I can work from home although that might change however I will push that as much as possible. I would also like to get retrenched and I feel like holding on in case it happens. So the stability doesn't really bother me.

The work stress sucks however this is at least partially my fault. I need to manage this better. Since I went on holidays recently I have managed it better. There are good things at work as well. I told my team yesterday and they were I think genuinely pissed off. I really like working with them and I've created a good positive environment there. That gives me some satisfaction.

As for moving I don't think its honestly worth the effort. We could move elsewhere in the country and downsize and possibly save a couple of hundred grand however I think the safer option is to stay where we are, save up for a couple more years and then work part time or quit. We can then allow the children to get through school and into Uni (this will be at least 12 years away) and then if we need to we can relocate to top up our stash.

I do hear what you are stating about me personally not wanting to move. I could move and I accept that however its a harder decision to make with a wife and 3 kids.

steveo73
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Re: FI in 10 years

Post by steveo73 » Wed Nov 25, 2015 4:07 pm

I just realized that I started this journal in 2013 with a goal of retiring by 2023. I can definitely meet that goal or probably significantly beat it which is good to see.

steveo73
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Re: FI in 10 years

Post by steveo73 » Thu Nov 26, 2015 3:55 pm

I've got a meeting with my boss today. I am 100% sure its not a retrenchment package however that would be great. He wants to know what I want to do. Its tempting to state I want a retrenchment package or I want to remain working in the same location I am or I want to work from home a couple of days per week.

steveo73
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Re: FI in 10 years

Post by steveo73 » Fri Nov 27, 2015 1:06 am

I spoke to the boss and I'm trying to push myself towards the job with the least possible amount of work and ensure that I get to work from home one day per week and my current location one day per week. That would be sweet.

I'll have to play the game right but if I can pull this off I reckon work will be more enjoyable than what it has been and although I'd rather stay where I am 5 days per week if I can make it 3 days per week it will be cool.

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jennypenny
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Re: FI in 10 years

Post by jennypenny » Fri Nov 27, 2015 7:22 am

That's cool. After all the drama, you might end up in a better situation when it's all over.

steveo73
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Re: FI in 10 years

Post by steveo73 » Fri Nov 27, 2015 5:38 pm

jennypenny wrote:That's cool. After all the drama, you might end up in a better situation when it's all over.
Thanks Jenny. I think it might end up better. Its interesting because I have zero interest in having a high flying career. I don't want to manage a bunch of people. I don't want to work excessive hours in an attempt to get some massive pay.

I want to work as little as possible and save as much money as possible.

steveo73
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Re: FI in 10 years

Post by steveo73 » Wed Jan 13, 2016 3:17 pm

A quick update on how things are tracking. The markets have tumbled but we haven't really lost that much. We have though paid off the home loan and have no debt. Its pretty good. I'm waiting for payday (next week) to put all the money that we used to chuck into the mortgage into savings and that should be good.

Work is still crap. The drama in my job amazes me. I have a new project and it kills me how everything has to be completed yesterday and if it doesn't there is so much stress. This is the first week back at work for most people and a guy outside our team had to give us a list of questions so that we could pass these onto another person in order for him to assign us the most appropriate resource to help us out. Anyway the guy didn't get back to us yesterday and my team manager is stressing and wants us to escalate. Its like every day is so critical in the environment that I work in. I work in a company that made 7 billion dollars profit last year. I wonder how important trivial little things like this are in the greater scheme of things. Its freaken crazy.

On the flip side my team has moved to another location and although its a bigger commute I am trying to do it only 3 days a week which is great. One day at home and one day at the location which is 10 minutes cycle from home for me. I also have 2 weeks holiday for the next 2 weeks and I can't wait.
Last edited by steveo73 on Thu Jan 14, 2016 1:10 am, edited 1 time in total.

cmonkey
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Re: FI in 10 years

Post by cmonkey » Wed Jan 13, 2016 3:31 pm

That sounds really great, a 10 minute cycle ride. Congrats, I'm glad it didn't turn out worse.

Congrats on paying off that mortgage! Those first few paychecks after being debt free felt really special..being able to put it all away is still a great feeling I get each month.

I also work in an environment like that where each day is critical and things are pushed if not followed up on. Its more amusing to me than anything because the work is so easy. Everyone acts like everything is so hard yet I do like 2-3 hours of actual work each day. I suspect a couple more do the same, but we don't talk about it. Who wants to rock the boat? Our team got moved across the building today and I'm getting a new boss starting next week. Seems like they just change things up for the hell of it.

llorona
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Re: FI in 10 years

Post by llorona » Wed Jan 13, 2016 6:04 pm

I have a new project and it kills me how everything has to be completed yesterday and if it doesn't there is so much stress.
I wonder about that, too, and why people stress so damned much. I mean, the universe is almost 14 billion years old and earth has been around for 4.5 billion years. From this perspective, the idea of trying to complete a project or task by this one particular little point in time is ludicrous.

steveo73
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Re: FI in 10 years

Post by steveo73 » Wed Jan 13, 2016 6:12 pm

cmonkey wrote:That sounds really great, a 10 minute cycle ride. Congrats, I'm glad it didn't turn out worse.

Congrats on paying off that mortgage! Those first few paychecks after being debt free felt really special..being able to put it all away is still a great feeling I get each month.

I also work in an environment like that where each day is critical and things are pushed if not followed up on. Its more amusing to me than anything because the work is so easy. Everyone acts like everything is so hard yet I do like 2-3 hours of actual work each day. I suspect a couple more do the same, but we don't talk about it. Who wants to rock the boat? Our team got moved across the building today and I'm getting a new boss starting next week. Seems like they just change things up for the hell of it.
I should be clear. It's a 10 minute cycle ride once per week. 3 days it's a 15 minute cycle plus a 1/2 hour train trip. Previously it was a 10 minute cycle every day.

My work is nuts. Seriously this morning one guy said we should do the solution a different way when we are about to move into a 6 week development cycle and deliver it. His suggestion will cost an additional $1million dollars plus another year to deliver while we have a budget of $125k and it is a regulatory report that will needs to be delivered quickly as well. This is the standard approach where I work. Its full of bureaucracy and way too many people butting in with their opinions. I honestly hate it.

To be fair I'm working at home today and I am about to go to the gym. That though is the only reason that I stay though. The environment is just shitty.

steveo73
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Re: FI in 10 years

Post by steveo73 » Wed Jan 13, 2016 6:14 pm

llorona wrote:
I have a new project and it kills me how everything has to be completed yesterday and if it doesn't there is so much stress.
I wonder about that, too, and why people stress so damned much. I mean, the universe is almost 14 billion years old and earth has been around for 4.5 billion years. From this perspective, the idea of trying to complete a project or task by this one particular little point in time is ludicrous.
Honestly it's freaken nuts. I manage people and I don't put that pressure on people. I say when can it be done and I'm realistic.

It's like all this drama over nothing.

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