Puking Rainbows' Journal

Where are you and where are you going?
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Posts: 75
Joined: Sat Mar 21, 2015 5:56 pm

Puking Rainbows' Journal

Post by pukingRainbows » Sun Jan 24, 2016 9:15 pm

Where to begin?

I'm 35.

I'm seeking financial independence. I would like to connect with a community of people. I'm also trying to improve my writing.

I have little to no experience with social media, forums, etc. I don't like to text. There seems to be an etiquette to all of it that I haven't figured out. I like this forum for the ideas as well as the earnestness of its contributors.

I have a family and two homes beside one another. I rent out the basement where I live and the entire house next door.

I am self-employed and have a love/hate relationship with my job. Some days it seems like the perfect outlet for experience and growth, and other times I am ready to just set everything ablaze and walk away. I'm currently trying get everything as perfect as possible and then walk away after selling part or all of it.

In many ways, I feel like my lifestyle is already financially independent, if that makes any sense. I mean to say, I am already doing things I want to do and can control how and when I work to some degree. However, I still have bills and debt that require my active effort to pay.

Anyway, my focus this year is to build up cash reserves to offset slow business times, pay down my mortgages and learn about investing.

In many ways, I feel like my path is not the most common route to financial independence. However, reading people's thoughts and ideas on this forum fills me with inspiration to apply what I can to my own journey.

Thanks for reading!

Posts: 1031
Joined: Tue Sep 06, 2011 1:49 pm
Location: The Netherlands

Re: Puking Rainbows' Journal

Post by DutchGirl » Sat Jan 30, 2016 7:16 am

Hi, and welcome. I think you'll find that on this forum, people take a lot of different paths towards financial independence. I'm employed and setting aside a bit of every paycheck, but others are self-employed, partially-employed, independent, etc, etc. It's all okay, too :-)

I hope that you'll enjoy being here, and I'm sure you'll be able to work on your financial independence / improved financial circumstances.

Posts: 75
Joined: Sat Mar 21, 2015 5:56 pm

Re: Puking Rainbows' Journal

Post by pukingRainbows » Sun Jan 31, 2016 9:30 am

Thanks DutchGirl! I'm very glad to be here. I've already learned so many things from my months lurking here.

January 2016: Small Beginnings

This month I've been consumed with the idea of Antifragility and it's approach to complex systems. The methodology is quite loose and open-ended, leaving it to the person to figure out their own best solutions. For me, ERE seems like a good strategy. Creating a lifestyle that reducing expenditures to eliminate fragility and cultivating the Renaissance ideal as a way to benefit from volatility, uncertainty, stress and the like.

I've also jumped on the KonMari bandwagon and last month removed much of the extraneous from my living space. The effect of which has been noticeable and welcome. The house feels less cluttered and easier to live in. Also, the stuff around me definitely improves my mood when I see it. My modus operandi was basically thinking, "Do I want to leave this for my kids to sort out when I die?" and "What if I was in a hospital room, what would I want around me?" Haha. I'm not sure why my thoughts went to death and sickness, but it was effective.

Right now, I'm re-reading the ERE book. I found that reading it for the first time, I didn't quite absorb certain concepts and looked at things from a very personal perspective as it really mirrored my own ideas on living a good life.

Going through it again, I find myself focused on more abstract concepts and trying to see how these ideas could be applied to myself and my business. Seeing the business as it's own entity striving for 'early retirement' seems to resonant with me as an idea.

So far, this year has started off well. I'm looking forward to seeing how the ideas and concepts I've been stewing in will develop into action, habit and lifestyle.

Posts: 75
Joined: Sat Mar 21, 2015 5:56 pm

Re: Puking Rainbows' Journal

Post by pukingRainbows » Sun Feb 14, 2016 11:52 pm

February 14, 2016: The Plan

I've been listening to podcasts lately which is a new thing for me. Mostly found through links on this forum. Thank you!

I really enjoyed Radical Personal Finance's breakdown of Financial Independence into different stages. It provided a lot of clarity as well as direction for me.

I'm currently floating between Stage 2 (Financial Stability) and Stage 3 (Debt freedom). To progress into Stage 4 (financial Security) I need to save enough cash to be ready for unexpected problems as well as opportunities, (I have the former right now but not a sufficient amount of the latter). Also, I need to get my second mortgage into a stronger positive cash flow position.

The action plan going forward is nice and simple: Save up 'dry powder' to capitalize quickly on opportunity and continue stamping out my mortgage until I can refinance to an adequately lower monthly payment.

Once these are accomplished, I will begin making moves to build my passive income portfolio. For now, I will focus on educating myself to prepare to take that step.

I'm excited! Thank you to everyone on this site for the inspiration, information and company on this journey.

Posts: 75
Joined: Sat Mar 21, 2015 5:56 pm

Re: Puking Rainbows' Journal

Post by pukingRainbows » Tue Mar 08, 2016 10:22 am

March 8, 2016

Should I wipe out my smaller mortgage or pay down my bigger one? I'm continually thinking which I prefer. It seems to change day by day. It'd be nice to just have one mortgage and one completely paid off house. But I'm paying a lot more interest on the other mortgage and getting the principal down enough to improve the cashflow on the eventual refinancing will be really helpful going forward.


Also, I realized that my future investments will most likely stem from starting new businesses once I have the time available. I like creating things and so far, my interest in stocks/bonds/REITS is pretty low. I'm still learning about it and it does sound interesting, but it feels a little too passive for me. I want to be more involved right now. I think it will be a component of my future income stream but I'm still trying to figure out how.

The idea of providing venture capital and angel investing appeals to me as I can be more directly involved in a business. I'm a long way from that point but it is kinda cool to think about. Does anyone here have any experience with this?

Posts: 248
Joined: Sat Oct 27, 2012 4:48 pm

Re: Puking Rainbows' Journal

Post by tommytebco » Tue Mar 08, 2016 2:30 pm

"they" always say pay down higher interest accounts first. This minimizes expense, reducing debt fastest.
The one or two mortgages on the books thing doesn't seem important .

Posts: 75
Joined: Sat Mar 21, 2015 5:56 pm

Re: Puking Rainbows' Journal

Post by pukingRainbows » Sun Mar 12, 2017 10:46 pm

It's been a year since I last posted.
I still don't enjoy writing blogs or texts.
I'm trying to participate more in the forum but I get overwhelmed trying to read and understand everyone's perspectives. In general, I don't understand how people have the patience to read pages and pages of a thread, especially, when the writing is people's ideas and arguments. Good for all of you who can.

Some updates:
- My home's mortgage payment has been lowered from $1350/month to $200 due to lump sum payments and refinancing.
- My rental house cashflow has been improved by $600 also due to lump sum payments and refinancing of the mortgage.
- I'm shooting for "Financial Security" (housing, food and transportation covered by passive income) by 2019
- In the process of leaving my current work. Maybe this year, but probably next or the year after.

The Plan: Keep Paying down mortgages and lower food expenses by a growing beans, tomatoes, greens, and berries.

In 2019, I plan to go back to school to shift into a new career: manual therapy. I'd like to have my finances secure to be able to go back to school full time to learn.

That's about it. Steady as she goes. =)

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