Wizards' journal (ERE in Denmark)

Where are you and where are you going?
wizards
Posts: 112
Joined: Sun Mar 31, 2013 8:24 pm
Location: Denmark

Re: Wizards' journal (ERE in Denmark)

Post by wizards » Thu Jan 11, 2018 2:02 pm

@euruka

Thank you.

It might very well be one of the reasons.

For me the transition from full time (+37 + commute) to part time from home has been the right choice. But after doing this 2½ years, it might be time to a change - but still not sure if and when :)

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BadHorse
Posts: 52
Joined: Sun Jun 05, 2016 4:17 am

Re: Wizards' journal (ERE in Denmark)

Post by BadHorse » Thu Jan 11, 2018 2:31 pm

Impressive as always, glad it's going so well! :)

If you really get nothing but the money out of the part time gig, then it does sound a bit pointless when you don't need the money. Do you think there is any potential value to maintaining some sort of connection with the job market? Like CV or up-to-date skills, if you'd ever want it?

wizards
Posts: 112
Joined: Sun Mar 31, 2013 8:24 pm
Location: Denmark

Re: Wizards' journal (ERE in Denmark)

Post by wizards » Fri Jan 12, 2018 8:41 am

Thank you :)

Think I wanna do some kind of for/against list for a start.

CV / connection with the job market - there is a value here, but not one that I personally value much..

abkjaer
Posts: 1
Joined: Wed Apr 18, 2018 2:21 am
Location: Denmark

Re: Wizards' journal (ERE in Denmark)

Post by abkjaer » Thu Apr 19, 2018 2:54 am

@wizards

Hi wizards,

I am a journalism student from Denmark, and for a radiopodcast I am looking into the whole ERE-movement, which I find exciting. I have been talking to a few others, who follow the same principles, but from your journal here I can see that you are at a point, where you are financially independent. I would love to talk to you about your journey and hear, what striving for ERE has meant for you.

You can contact med via email eajensen@mail.dmjx.dk or on the phone 2989 5489.

First of all the interview is for research and I hope to hear from you.

Kind regards
Emil Abkjær Kristensen

thedollar
Posts: 52
Joined: Tue Feb 21, 2017 4:07 am

Re: Wizards' journal (ERE in Denmark)

Post by thedollar » Fri May 04, 2018 2:02 pm

This is my favorite journal. We need an update soon, Wizards :geek: :) ;)

wizards
Posts: 112
Joined: Sun Mar 31, 2013 8:24 pm
Location: Denmark

Re: Wizards' journal (ERE in Denmark)

Post by wizards » Fri May 04, 2018 3:45 pm

Hope a short update will do.

Numbers (April 2018)
SWR: 2.91 %
Networth: USD 864,046
Asset allocation: Stocks 53 %, Rentals 30 %, Bonds 11 %, Cash 6%
Spending is still below budget but not much.

The Apartment experiment:
Last month I bought a small apartment on foreclosure/auction. The price including miscellaneous fees, stamps etc. is approx. USD 65,000. There’s need for some work, some I can do myself, and some which I have hired pros to do – I budget this to approx. USD 18,000. I plan to have it finished by the end of this month – estimated value then USD +100,000. It’s the plan to keep it as a rental property like the others I already have.
So far, I have enjoyed the process and doing some manual labour :)

And one more…
Two weeks after buying the foreclosure I found another interesting opportunity – so this week I closed another deal for a larger apartment, this one has a tenant, so basically no work to do besides moving money, finding finance etc.

Job
Still working part time and still not clarified how long I will keep doing this.

wizards
Posts: 112
Joined: Sun Mar 31, 2013 8:24 pm
Location: Denmark

Re: Wizards' journal (ERE in Denmark)

Post by wizards » Wed Jan 02, 2019 5:44 pm

One more year working part time from home has passed.

And yes, still doing part time, but for a change there is now a clearer goal doing this. We are planning for my wife to take a year off starting July this year. As she’s not FI (yet), my income from part time work will pay for this. If this works out fine, we might make it permanent, but for a start one year is agreed.

We plan for at international trip late 2019, first flight with the kids, properly Thailand for 4-6 weeks, this will be the first (hopefully not the last) vacation paid from my family account*

Numbers for 2018:

SWR (budget): 2.70%

Net worth: USD 888,407

Asset allocation: Stocks 49%, Rentals 39%, Bonds 9%, Cash 3%

Did buy one more apartment (50/50 with a friend) late 2018 so the portfolio now holds a total of 8 rental apartments.

Spending 2018 was 97% of budget – getting closer to budget mainly due to increased repayments on our mortgage. Repayments was 21% of total spending – I do not include home equity in my net worth as we intend to stay in this house for years to come.

Current passive income covers 138% of budgeted spending.

Hobby income did again cover all private spending and did only decrease 0.3% - Once again I predict 2019 to be lower but hoping for a surprise.

Children – continue to be cheaper than budgeted, and they are still doing fine. :)

* Like last year I have allocated 80 % of my part time income to a separate account not included in net worth etc. Again, I have gifted some money to the kids and some for my wife, the rest is intended to “extraordinary” holidays for the family. Contributions to this account will be put on hold once my wife are at home – but that’s a minor/luxury problem.

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