Gilberto de Piento's Journal

Where are you and where are you going?
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jennypenny
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Re: Gilberto de Piento's Journal

Post by jennypenny » Sat Jul 23, 2016 3:01 pm

Gilberto de Piento wrote:Most of the numbers I report are from the Akratic/M741 spreadsheet I downloaded when I first joined here.
What spreadsheet is that?


Hang in there! You'll hit that hockey stick. You'll know you're close the day your money earns more than you do.

vraxxos
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Re: Gilberto de Piento's Journal

Post by vraxxos » Mon Jul 25, 2016 6:18 am

http://seekingalpha.com/article/313294- ... ompounding

"The first $100,000 is a b!tch" according to Charlie Munger.

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Gilberto de Piento
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Re: Gilberto de Piento's Journal

Post by Gilberto de Piento » Wed Jul 27, 2016 8:25 am

What spreadsheet is that?
viewtopic.php?t=2557

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Gilberto de Piento
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Re: Gilberto de Piento's Journal

Post by Gilberto de Piento » Wed Jul 27, 2016 8:25 am

"The first $100,000 is a b!tch" according to Charlie Munger.
Ha!

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cmonkey
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Re: Gilberto de Piento's Journal

Post by cmonkey » Wed Jul 27, 2016 11:23 am

jennypenny wrote:You'll know you're close the day your money earns more than you do.
I believe you'd be far beyond at that point and will have worked longer than needed. I think she meant the day your money earns more than you spend. ;)

That first 100K is definitely hard. I am not there yet, and it feels longer since I am split between 3 accounts.

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Gilberto de Piento
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Re: Gilberto de Piento's Journal

Post by Gilberto de Piento » Thu Jul 28, 2016 9:07 am

I believe you'd be far beyond at that point and will have worked longer than needed. I think she meant the day your money earns more than you spend. ;)
This is a good point. I only need my investments to cover my expenses, not replace my entire income.

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Gilberto de Piento
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Re: Gilberto de Piento's Journal

Post by Gilberto de Piento » Thu Aug 04, 2016 10:24 am

July 2016

An average month. It's hard to avoid having fun in the summer and sometimes fun costs money. :?

Expenses
Alcohol & Bars 52.19 (vacation)
Auto & Transport 89.99 (parts to put roof rack on car)
Cash & ATM 40
Gas & Fuel 86.08 (vacation)
Groceries 312.65 (making up for low spending last month, vacation)
Health & Fitness 183 (bought some gear)
Home Insurance 115 (every six months)
Internet 23.29 (It's 63.29 total but I share it. I'm going to start tracking it this way.)
Mobile Phone 12.22
Mortgage & Rent 960
Pharmacy 8.43
Restaurants 61.32 (vacation)
Total -FI 1944.17

Income
Paycheck 3350.35
Amazon 65.42
Google 191.66
Checking 21.37
457b 124
Total +FI 3752.8

Savings 1808.63
% Spent 52%
% Saved 48%
SWR 15%
SWR with IM Income 13%
Years Remaining 18
Years Remaining Including Interest 9


"We have two lives, and the second begins when we realize we only have one."
Confucius

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Gilberto de Piento
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Re: Gilberto de Piento's Journal

Post by Gilberto de Piento » Thu Sep 01, 2016 9:03 am

August 2016

A solid month! Reasonable (but not great) spending, some extra income I wasn't planning on, some expenses I wasn't planning on. Net worth creeps upward and SWR creeps downward. I'm very excited to be getting close to the single digits.

Goal of $1700 or less spending for September.

Expenses
Alcohol & Bars 11.59
Auto & Transport 154.01 (Car needed part of the exhaust replaced. Did the work myself but parts were expensive.)
Business Services 19.98
Cash & ATM 20
Gas & Fuel 137 (Some summer driving plus gas for short vacation that overlapped July and August)
Groceries 171 (Not bad!)
Gym 51.7
Internet 63.29
Mobile Phone 12.23
Mortgage & Rent 970
Restaurants 35.56
Sports 214.27 (Needed to replace bike drivetrain, hiking backpack, etc.)
Total -FI 1860.63

Income
Paycheck 3351.69
Amazon 96
Google 100.06
Consulting 240 (Some unanticipated income selling internet ads)
Checking 23.88
Gift 150 (More unanticipated income - wellness incentive from health insurance company)
457b 124
Total +FI 4085.63

Savings 2225
% Spent 46%
% Saved 54%

SWR 14% (Lowest ever)
SWR with IM Income 13% (Lowest ever)

Years Remaining 16
Years Remaining Including Interest 9


"...all experience hath shown that mankind are more disposed to suffer, while evils are sufferable than to right themselves by abolishing the forms to which they are accustomed."
Declaration of Independence

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Gilberto de Piento
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Re: Gilberto de Piento's Journal

Post by Gilberto de Piento » Sat Oct 01, 2016 9:11 am

September 2016

Best savings rate ever of 69%! Though it was a three paycheck month so it doesn't really count. Still, expenses were low enough to be my second best month ever at $1649. Internet income is dwindling but still helpful.

Expenses
Alcohol & Bars 20.83
Auto & Transport 111.2 (still fixing minor issues on the car, parts are expensive)
Business Services 54.32 (some sites renewed)
Clothing 23.2
Gas & Fuel 56.02
Groceries 205.25 (not bad)
Gym 51.7
Internet 23.29 (sharing with two others)
Laundry 20
Mobile Phone 12.23
Mortgage & Rent 970
Pharmacy 5.26
Restaurants 36.5
Sports 59.65 (camping fees)
Total -FI 1649.45

Income
Paycheck 5053.48
Amazon 61.47
Checking 25.37
457b 186
Total +FI 5326.32

Savings 3676.87
% Spent 31%
% Saved 69%

SWR 12%
SWR with IM Income 12%

Years Remaining 11.7
Years Remaining with Interest 7


"We don't rise to the level of our expectations, we fall to the level of our training."
- Archilochos

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Gilberto de Piento
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Re: Gilberto de Piento's Journal

Post by Gilberto de Piento » Sun Nov 06, 2016 1:49 pm

October 2016

This month is my three year anniversary posting in this journal. Over the last three years I've saved about $90,000 and my SWR has decreased from about 35% to about 13%. I went from being about 25 years from retirement to about 14 and from having three years of expenses saved to nine. Thanks to everyone at ERE for all your help!

October was a good month with a solid 62% savings rate despite having to pay almost $300 for a replacement tooth filling. I did a consulting job on the side but due to a having lot of work at my real job and the short deadlines for the consulting work it was a lot of stress.

Expenses
Business Services 17.98
Charity 25 (politics)
Doctor 282 (filling replaced)
Gas & Fuel 79.79 (travelling)
Groceries 277.41 (travelling)
Gym 51.7
Internet 43.29
Mobile Phone 12.21
Mortgage & Rent 970
Parking 8 (job interview expense)
Sports 4.15
Total -FI 1771.53

Income
Paycheck 3351.68
Amazon 91.71
Google 143.96
Consulting 870
Checking 26.64
457b 124
Total +FI 4607.99

Savings 2836.46
% Spent 38%
% Saved 62%
SWR 13%
SWR with IM Income 12%
Years Remaining 14
Years Remaining with Interest 7


"When a man finds no peace within himself, it is useless to seek it elsewhere."
Francois de La Rochefoucauld

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cmonkey
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Re: Gilberto de Piento's Journal

Post by cmonkey » Sun Nov 06, 2016 5:10 pm

11 years shaved off in 3 years. Nice work!

Sorry about the tooth filling and stress from work. I've been through similar of late with our changes, and also had a filling put in last week. The entire process is 20 minutes per filling and it's so much better than what would have happened 100 years ago, but I still can't help but hate it.

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Gilberto de Piento
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Re: Gilberto de Piento's Journal

Post by Gilberto de Piento » Mon Nov 07, 2016 8:53 am

Thanks! I have a good dentist and the process itself really wasn't bad (thankfully, since I have to get another one replaced soon) but I was annoyed that insurance doesn't cover it.

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El Duderino
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Re: Gilberto de Piento's Journal

Post by El Duderino » Mon Nov 07, 2016 1:10 pm

Happy 3 year anniversary. One of the benefits of these journals, I think, is the idea of 'what gets measured gets done'. You're definitely getting stuff done.

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Gilberto de Piento
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Re: Gilberto de Piento's Journal

Post by Gilberto de Piento » Tue Nov 08, 2016 11:22 am

Happy 3 year anniversary. One of the benefits of these journals, I think, is the idea of 'what gets measured gets done'. You're definitely getting stuff done.
Thanks! I appreciate you taking the time to read it.

Measuring income and spending definitely helps and it doesn't seem like a chore since I like tracking things anyway. Sometimes I am disappointed with how long it is taking but overall it's a lot better than it could be. The biggest things that have helped me have been cutting systemic costs (examples: phone, internet) as well as tracking unpredictable costs as they happen so I don't get to the end of the month and realize I somehow spent $2500.

As I continue I'm looking for ways to cut my biggest systemic cost, housing, and increase my income.

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cmonkey
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Re: Gilberto de Piento's Journal

Post by cmonkey » Tue Nov 08, 2016 11:47 am

Gilberto de Piento wrote:Measuring income and spending definitely helps and it doesn't seem like a chore since I like tracking things anyway.

I enjoy tracking it too and looking at balances every day. It just seems as natural as breathing. For something that holds as much power over our lives as money does, or conversely gives so freedom, I'm shocked more people don't feel that way. Take control of it.

DW's cousin (who is staying with us currently) wants to learn about finances, but she doesn't want to track anything and doesn't even take the time to learn how to do online banking. It is mind blowing for me. I could walk her through it but I think it would be wasted effort.

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Gilberto de Piento
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Re: Gilberto de Piento's Journal

Post by Gilberto de Piento » Sat Nov 12, 2016 10:25 am

DW's cousin (who is staying with us currently) wants to learn about finances, but she doesn't want to track anything and doesn't even take the time to learn how to do online banking.
A lot of people just aren't wired that way. I enjoy it and find it useful but many see it as a chore at best.

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Gilberto de Piento
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Re: Gilberto de Piento's Journal

Post by Gilberto de Piento » Sat Nov 12, 2016 10:33 am

I hit $160,000 in investments (457b/vanguard/savings) today! Round numbers are fun. Come on hockey stick! 8-)

I'm starting a new position soon at work where I'm hoping I'll be able to get more experience in certain areas that may help me to get a better job later on. If nothing else it will be a change of pace as the old job was becoming very tedious for a number of reasons. I'd like to get into detail but anonymity is important.

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Re: Gilberto de Piento's Journal

Post by Farm_or » Thu Nov 17, 2016 8:44 am

Great journal. Sometimes a change in scenery is refreshing. The best thing about being the FNG for awhile is the ignorant bliss.

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cmonkey
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Re: Gilberto de Piento's Journal

Post by cmonkey » Thu Nov 17, 2016 10:43 am

Round numbers are fun! Although I am a ways away from 160K.

My investment accounts topped 100K on Tuesday (3 accounts + HSA). I count the real achievement when our 3 main accounts break 6 figures, hopefully in a few months. Brokerage account broke 25K for the first time the same day.

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Gilberto de Piento
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Re: Gilberto de Piento's Journal

Post by Gilberto de Piento » Thu Nov 17, 2016 11:51 pm

Great journal. Sometimes a change in scenery is refreshing. The best thing about being the FNG for awhile is the ignorant bliss.
Thanks! The change has been positive so far. It's been good to get away from both projects and personalities that really weren't bad but weren't that great either.

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Gilberto de Piento
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Re: Gilberto de Piento's Journal

Post by Gilberto de Piento » Thu Dec 01, 2016 10:05 am

November 2016

A good month for both spending and income.

Expenses
Alcohol & Bars 12.65
Auto Insurance 209.04
Business Services 17.98
Charity 30
Clothing 11.14
Gas & Fuel 28.71
Groceries 215.01
Gym 51.7
Home Improvement 8.4
Internet 3.29 (shared)
Mobile Phone 12.26
Mortgage & Rent 970
Sports 4.15
Total -FI 1574.33

Income
Paycheck 3351.69
Amazon 61.36
Consulting 890
Checking 25.86
Gift 13.37
457b 124
Total +FI 4466.28

Savings 2891.95
% Spent 35%
% Saved 65%
SWR 11.5%
SWR with IM Income 11%
Years Remaining 10.3
Years Remaining with Interest 7


Victorious warriors win first and then go to war, while defeated warriors go to war first and then seek to win.
Sun Tzu

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Gilberto de Piento
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Re: Gilberto de Piento's Journal

Post by Gilberto de Piento » Mon Jan 02, 2017 10:47 pm

December 2017

I'm disappointed in how much I spent this month. Christmas plus some random things that fell in the same month conspired against me. Next year I'd like to try harder to avoid Christmas expenses. The best month in a long time for internet income though.

Expenses
Alcohol & Bars 36.87 (some Christmas activities and a birthday party)
Auto & Transport 80.83 (new battery, wipers - if you need to buy a new battery always check to see if there was a warranty on the old one, even if you didn't buy it.)
Business Services 135.83 (websites renewed)
Charity 159.94 (donated to some organizations)
Gas & Fuel 64.2 (drove a lot for the holidays)
Gift 240.67 (bought gifts for family members, need to figure out how to reduce this expense next year)
Groceries 260.28 (a little high due to Christmas)
Gym 51.7
Internet 8.29 (sharing with others)
Laundry 20
Mobile Phone 12.26
Mortgage & Rent 970
Parking 1.15
Sports 16.83
Total -FI 2058.85

Income
Paycheck 3233.42
Amazon 143.79
Google 154.28
CafePress 66.42
Consulting 740
Checking 26.79
Gift 150
457b 124
Total +FI 4638.70

Savings 2579.85
% Spent 44%
% Saved 55%

SWR 15%
SWR with IM Income 12%

Years Remaining 20 (ugh, this sucks)
Years Remaining with Interest 9


“Now and then it's good to pause in our pursuit of happiness and just be happy.”
Guillaume Apollinaire

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cmonkey
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Re: Gilberto de Piento's Journal

Post by cmonkey » Tue Jan 03, 2017 12:57 pm

How did your 'Years Remaining' double from last month? Do you calculate it based on the last XYZ months, or just current month?

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Gilberto de Piento
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Re: Gilberto de Piento's Journal

Post by Gilberto de Piento » Tue Jan 03, 2017 10:29 pm

How did your 'Years Remaining' double from last month? Do you calculate it based on the last XYZ months, or just current month?
It's calculated only on the current month so it moves around a lot (note that the month it goes negative is because I bought a car and spent more than I earned, the formula doesn't handle that scenario):

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I'm using the calculations that were included in the spreadsheet as I received it:

(savings needed at specified swr - current savings) / projected annual savings

So for last month:

(419,821 - 164,407) / 24,809 = 10 years

and for this month:

(549,027 - 169,093) / 18,995 = 20 years

I've calculated a rolling average for some numbers that I track but I've found that doing it month by month really causes an emotional reaction for me when the numbers aren't looking good. This reaction makes me try harder the next month. When the numbers are smoothed out it all blends together too much and I don't try as hard.

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Gilberto de Piento
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Re: Gilberto de Piento's Journal

Post by Gilberto de Piento » Wed Jan 04, 2017 7:51 pm

I hit $170,000 in ERE assets today. Up $10,000 in under two months. I don't want to get cocky but I enjoy these round numbers. I know they don't mean anything. :mrgreen:

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