Egg's journal

Where are you and where are you going?
cimorene12
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Re: Egg's journal

Post by cimorene12 »

It would be really cool if you went to Thailand while you worked on Kindle publishing. There are plenty of authors who move there and enjoy the good climate and cheap cost of living.

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C40
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Re: Egg's journal

Post by C40 »

Egg wrote:I should add, that if I work on Kindle publishing, I would preferably go somewhere cheap and with a nice, warm climate (Thailand?) where I can just use the internet whilst experiencing a semi-holiday feel.
I vote for this!!

Egg
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Re: Egg's journal

Post by Egg »

cimorene12 wrote:It would be really cool if you went to Thailand while you worked on Kindle publishing. There are plenty of authors who move there and enjoy the good climate and cheap cost of living.
C40 wrote:
Egg wrote:I should add, that if I work on Kindle publishing, I would preferably go somewhere cheap and with a nice, warm climate (Thailand?) where I can just use the internet whilst experiencing a semi-holiday feel.
I vote for this!!
Hehe. Thanks for the input. I'll think about it. I've got cousins in Costa Rica I want to visit, so I'm still thinking about what's going to be reasonably economical, whilst making the most of the time I've got. Thailand is still up there in my mind though. I've got to be in the UK in mid-May for university graduation, so I'm envisaging any further-flung travelling only after that point.

Egg
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Re: Egg's journal

Post by Egg »

Slightly belated, but February roundup now in. It was an alright month on the whole, I'd say. It didn't 100% conclude the question of whether I'm leaving my job - I'll have 24 hours notice when they make a final decision in the next couple of weeks. I've planned the immediate future, though, as if I'm leaving. I'm going to stay with my brother in Edinburgh next month and do a course for teaching English as a foreign language. I may use the qualification, I may not, but it's a good additional string to the bow for travelling, and provides an option to offset cost by teaching.

I've been seeing a new girl, who's cool. Nothing serious (just as well as I'm still shagging one of the girls in the office - I better be leaving or else that'll be too close to home for my liking) but she improves my overall morale. Will have to see how that goes. It'll probably end in a few weeks when I go to Edinburgh tbh, but who knows. As a bit of a tangent, it's interesting to observe in myself that I feel more relaxed when I'm seeing girls casually, whether it's just one or several at the same time. Relationships just give me stress because they play badly to my insecurities. Long-term I will almost certainly be better off facing my inner demons head-on, but I'm enjoying being back in the dating game for now.

Anyway, enough of that. Financials:

February

Expenses – £1320

Room – £185
Work canteen and bar – £200
Bank subscription – £10
Laptop screen repair – £70
Public transport – £25
Cinema – £30
Supermarkets – £10
Kindle – £760
Misc. – £30

Income – £2400

Salary – £2400

Savings rate – 45%

45%?! What a scandal. To be honest, I don’t feel too bad about it, though. Granted it’s a cheap psychological trick which doesn’t change the amount of money in my pocket, but if we were to subtract the amount I spent on Kindle publishing, which I hope to see returned in time, my savings rate would have been 77%, about as good as it’s ever been. Even if Kindle is a relative flop and I get back 50% of my initial investment, that’d send the savings rate up to a more palatable 60%. So basically, a pretty poor headline month, but hopefully a healthier underlying reality.

Ydobon
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Re: Egg's journal

Post by Ydobon »

Ah - Kindle *publishing* - I'm sitting here thinking 'what the hell is he buying, you could get 2 Kindles and 100 books for that?'! :lol:

Edinburgh sounds good, I'm off to Murrayfield for the rugby this weekend, always a good laugh.

Egg
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Re: Egg's journal

Post by Egg »

Ydobon wrote:Ah - Kindle *publishing* - I'm sitting here thinking 'what the hell is he buying, you could get 2 Kindles and 100 books for that?'! :lol:
Haha. Yeah, not quite that voracious a reader!
Ydobon wrote:Edinburgh sounds good, I'm off to Murrayfield for the rugby this weekend, always a good laugh.
You Edinburgh-based too then? Just as well it's about having a laugh not getting the win, eh ;)

Ydobon
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Re: Egg's journal

Post by Ydobon »

Nah - Glasgow - but we got the win :D

Ginger1
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Re: Egg's journal

Post by Ginger1 »

Just read your journal from start to finish Egg, and a very enjoyable read it was.

Congratulations on getting a place on the Civil Service Fast Stream. I've heard good things about it. I'm in London on a very similar salary to what you'll be starting on - and managing about 30-40% savings. Unfortunately, I'm about ten years older than you and with not a terrific net worth, London expenses and looming marriage and likely children and a larger house - things are looking a little bleak on the ERE front.

If there's one thing I wish, it's to go back to your age and spend that time getting as close to FI as possible before those aspects of life start to force themselves upon you.

Egg
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Re: Egg's journal

Post by Egg »

Ydobon wrote:Nah - Glasgow - but we got the win :D
You did, and a smashing victory at that. Consider my words eaten ;)

Egg
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Re: Egg's journal

Post by Egg »

Ginger1 wrote:Just read your journal from start to finish Egg, and a very enjoyable read it was.

Congratulations on getting a place on the Civil Service Fast Stream. I've heard good things about it. I'm in London on a very similar salary to what you'll be starting on - and managing about 30-40% savings. Unfortunately, I'm about ten years older than you and with not a terrific net worth, London expenses and looming marriage and likely children and a larger house - things are looking a little bleak on the ERE front.

If there's one thing I wish, it's to go back to your age and spend that time getting as close to FI as possible before those aspects of life start to force themselves upon you.
Thanks on all counts, Ginger1 :)

Ah yes, "children", "house" and "London" all in the same sentence are enough to make anyone blanch. I'll be sure to check out your journal to see how you do it, but 30-40% in London sounds good to be honest. There are some very strong savers on the forums by percentage, but they often have the benefit of high-STEM earnings and sometimes also lower cost of living cities (I've certainly benefitted from the latter for the last few years). Fair play to them - we choose what (if anything) we study and where we live - but I'd not be put off in your position. Also, what you say about age is entirely valid, but as the proverb goes: "The best time to plant a tree was 20 years ago. The second best time is now".

2Birds1Stone
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Re: Egg's journal

Post by 2Birds1Stone »

Hey there Egg! Fellow Pole living abroad. I saw your posts in Bakai's journal and ended up reading yours from start to finish this morning.

I too started my journey to FIRE in my mid 20's. My savings rate took nearly 3 years to get to the 50-60% range.

I look forward to following your continued progress.

Egg
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Re: Egg's journal

Post by Egg »

2Birds1Stone wrote:Hey there Egg! Fellow Pole living abroad. I saw your posts in Bakai's journal and ended up reading yours from start to finish this morning.

I too started my journey to FIRE in my mid 20's. My savings rate took nearly 3 years to get to the 50-60% range.

I look forward to following your continued progress.
Ah cool. Great to hear from you! It seems like there's not much for young Poles back in Poland, so I can't blame them for coming over here or for generally seeking a better life outside of their country. I don't view myself as a "Pole living abroad" because I've always lived in the UK, and I'm half-British, but I do still view Poland and the Polish language as an important part of my identity.

P.S. Jealous of Bora Bora/Tahiti! Sounds like you had a great time!

Egg
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Re: Egg's journal

Post by Egg »

Okay, so I've been a bit lax with my journal here these past few months. I have been tracking my spending as usual, and even wrote up a brief summary of the months, but just never bothered to upload it here. To save a bit of time, I'll just post the headline financial figures for March, April and May rather than a full breakdown. I may actually move towards a more summarised financial update format anyway unless anything new and exciting crops up in my expenditure, as it has been pretty similar each month since the beginning of the year.

March

Income - £2400

Expenditure - £955

Savings rate: 60%

April

Income - £2400

Expenditure - £835

Savings rate: 65%

May

Income - £2400

Expenditure - £1020

Savings rate: 58%


So, what have I been up to? Well my job didn't finish in March like I expected, and I accordingly didn't go up to Edinburgh for the month, didn't join the circus, didn't travel the world etc. etc. Instead the decision was made that I will have to leave my job, but six months down the line i.e. end of September. I have mixed feelings about that. Of course it's disappointing not to have the oodles of free time to go do something exciting. On the other hand, it means I can keep my savings momentum up just a little longer. In the past few months, I've been away on courses, graduated with a master's, and generally ironed out most of the uncertainties of my near-future. Meanwhile, my bedpost continues to acquire notches, and I've been enjoying the unseasonable British sunshine, even going semi-regularly to a friend's allotment to get down an dirty in an altogether more wholesome way. So in short, it's been a good few months. The savings have been ticking along just fine, work has been uneventful, and my personal life has been more colourful than it's been for ages.

2Birds1Stone
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Re: Egg's journal

Post by 2Birds1Stone »

Egg wrote:my personal life has been more colourful than it's been for ages.
That always shortens the path to FI! :geek:

2Birds1Stone
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Re: Egg's journal

Post by 2Birds1Stone »

Alive and well I hope......

2Birds1Stone
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Re: Egg's journal

Post by 2Birds1Stone »

Egg, where art thou?

Egg
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Re: Egg's journal

Post by Egg »

Hey @2Birds1Stone

Sorry for epic delay in response! I'm alive and well - and glad to see you're still going strong on these forums.

To cut a long story short, since June 2016 when I last posted. I've moved house about 5 times, lived in three different countries, bought a house (in cash), bought a car :oops: , got married, and we're expecting our first child next week, all being well.

The financials

We're not saving that much compared to how I used to be when I was solo (averaging around 30-35% recently) but that's mostly because my wife hasn't worked since she got pregnant (she's pretty frugal, though, thank fuck). To be honest, I haven't ever been happier and the slow-down in progress to FI doesn't really bother me day-to-day at the moment.

The fact that I now have a fairly stable job (civil service) which pays (marginally) more than I've ever earnt before (~£2.6k net) and which I find anywhere between just-about-tolerable and positively enjoyable has taken my focus away from trying to escape employment at the earliest opportity.

That said, I have continued to track NW and expenses. Back in June 2016, I was at £96,000. I'm now at £154,000 (although house equity is hard to value accurately, and that accounts for most of it i.e. £145,000). That ignores a defined benefit pension, which is currently worth around £5k per year from State Pension Age (and worth an extra ~£1k per year for each year I work at current salary).

We spend around £1600-1800 per month for the household on average. Much less frugal than before when you consider we pay no rent.

Summary

I don't know that I'll ever go back to particularly regular updates, but will try to check in at least occasionally. It's fucking cool to see how far some (most) of you who kept posting have come (rube, cimorene12, m741and C40 being just a few of the journals that come to mind). I think it's pretty certain at this point that I will miss my original 2014 goal of FI by the age of 33 (5 more years) - I didn't blow up as a Kindle author btw for anyone who's followed the whole thread, though I'm still glad of experimenting with it back then - so unlikely to be one of those financial inspirational stories, but hey - as long as my family and I are happy and cared-for, that's good enough for me.

cimorene12
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Re: Egg's journal

Post by cimorene12 »

Happy and cared for are enough for me, too. Glad to see an update.

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