2Birds1Stones' 325 day hustle to freedom!

Where are you and where are you going?
wolf
Posts: 588
Joined: Fri Jan 06, 2017 5:09 pm
Location: Germany

Re: 2Birds1Stone's hustle to freedom!

Post by wolf » Thu Aug 24, 2017 11:55 am

2Birds1Stone wrote:
Thu Aug 24, 2017 8:59 am
Mini Update
Congrats for both mini updates. I hope that the second one also works out just fine as the first one. All the best!

Jason
Posts: 1248
Joined: Mon Jan 30, 2017 8:37 am

Re: 2Birds1Stone's hustle to freedom!

Post by Jason » Fri Aug 25, 2017 12:32 pm

Congrats on getting engaged.

As a point of curiosity, what did you spend on the engagement ring in terms of percentage of income? Was ERE a factor? The diamond industry in one of the great mass marketing schemes of all time has made it common practice that one spend three months salary on engagement ring. Three fucking months. I mean even if you are enjoying the milk, that's a lot to pay for the cow.

This article provides the history.

https://www.theatlantic.com/internation ... ng/385376/

2Birds1Stone
Posts: 238
Joined: Thu Nov 19, 2015 11:20 am

Re: 2Birds1Stone's hustle to freedom!

Post by 2Birds1Stone » Mon Aug 28, 2017 7:57 pm

Jason wrote:
Fri Aug 25, 2017 12:32 pm
Congrats on getting engaged.

As a point of curiosity, what did you spend on the engagement ring in terms of percentage of income? Was ERE a factor? The diamond industry in one of the great mass marketing schemes of all time has made it common practice that one spend three months salary on engagement ring. Three fucking months. I mean even if you are enjoying the milk, that's a lot to pay for the cow.

This article provides the history.

https://www.theatlantic.com/internation ... ng/385376/
Thank you Jason.

~1 months of gross income

I went with a beautiful double bypass setting in white gold, with a 1.25ct round cut .
MDFIRE2024 wrote:
Thu Aug 24, 2017 11:55 am
2Birds1Stone wrote:
Thu Aug 24, 2017 8:59 am
Mini Update
Congrats for both mini updates. I hope that the second one also works out just fine as the first one. All the best!
Thanks!! Still waiting but should hear by end of the week.
Last edited by 2Birds1Stone on Thu Apr 12, 2018 7:13 am, edited 1 time in total.

Jason
Posts: 1248
Joined: Mon Jan 30, 2017 8:37 am

Re: 2Birds1Stone's hustle to freedom!

Post by Jason » Wed Aug 30, 2017 3:16 pm

My wife actually walks around with over five figures on her finger because my mother gave me her dead mother's wedding ring which shocked the shit out of me as Nana more than once confessed in front of her entire extended family that my douchebag brother was her favorite. On that note, fuck you Nana and the horse you rode out on.

I admit that I have supported the diamond industry. But I have also supported the Medillen drug cartel, Cosa Nostra, various local and international sex slave rings, the Republican party, the New York Yankees and Woody Allen so I got tons of shit weighing down on my conscience.

2Birds1Stone
Posts: 238
Joined: Thu Nov 19, 2015 11:20 am

Re: 2Birds1Stone's hustle to freedom!

Post by 2Birds1Stone » Thu Aug 31, 2017 3:17 pm

Jason wrote:
Wed Aug 30, 2017 3:16 pm
My wife actually walks around with over five figures on her finger because my mother gave me her dead mother's wedding ring which shocked the shit out of me as Nana more than once confessed in front of her entire extended family that my douchebag brother was her favorite. On that note, fuck you Nana and the horse you rode out on.

I admit that I have supported the diamond industry. But I have also supported the Medillen drug cartel, Cosa Nostra, various local and international sex slave rings, the Republican party, the New York Yankees and Woody Allen so I got tons of shit weighing down on my conscience.
Haha! That's pretty funny.


I got the job offer yesterday, and accepted.

Base salary going from $57k/yr to $92k/yr
Incentive Comp at 100% Quota going from $65k/yr to $120k/yr

BUT

Quota is going up a lot, and the type of companies I am targeting is much higher profile with stronger silos.

August Financial Update

Barring any crazy market swing.....

Assets
$76,300 401k
$51,900 Brokerage
$45,900 Roth IRA
$16,300 Ag Holdings
$8,000 SDB Holdings
$13,500 Vehicle Equity
$88,700 Savings
$11,900 HSA
$11,000 Au Holdings
$323,500 Total Assets (+$10,500)

Spending
$550 Rent/Utility
$80 Grocery
$195 Gas
$300 Entertainment
$300 Depreciation
$153 Vehicle Fund
$8 Travel
$50 Cell
$20 Health
$123 Gifts
$1,779 Total Spending

Income
$2,100 Salary
$1,068 401k
$480 HSA
$80 OT
$7,500 Commission
$11,228 Total Income

84% Savings Rate....that balances out the 28% last month =D

2Birds1Stone
Posts: 238
Joined: Thu Nov 19, 2015 11:20 am

Re: 2Birds1Stone's hustle to freedom!

Post by 2Birds1Stone » Sun Oct 08, 2017 9:14 am

September Financial Update

Assets
$78,800 401k
$46,100 Taxable
$46,600 Roth IRA
$15,700 Ag Holdings
$8,000 SDB Savings
$13,400 Vehicle Equity
$96,600 Savings (woah lol)
$12,300 HSA
$10,800 Au Holdings
$328,300 Total Assets (+$3800)

Spending
$550 Rent/Utility
$140 Gas
$130 Grocery
$410 Entertainment (blah)
$100 Depreciation
$50 Cell
$175 Travel
$541 Insurance
$120 Health
$13 Misc
$51 Gifting
$2,280 Total Spending

Income
$2,100 Salary (can't wait for this to go up next month!)
$1,068 401k (ditto)
$480 HSA
$600 Commission
$150 Other (Bank Bonus :) )
$4,398 Total Income

48% Savings Rate

Musings
Ok month all things considered. Expenses were higher than a normal month, largely due to 6 month insurance premium and the Triathlon plus a few other weekend trips that took entertainment spending to one of the highest months since I started tracking in this journal.

Income was meh, very low commission amount, but all good. Markets were up overall which contributed to the net worth increase.

I started the new job last Monday, and on Wednesday I got a call from my boss letting me know that they are getting let go for underperformance. Knot in my stomach. Go figure I have a big room planning meeting at the corporate HQ on Thursday and have to skate around the subject until I figure out wtf I'm going to do.

2Birds1Stone
Posts: 238
Joined: Thu Nov 19, 2015 11:20 am

Re: 2Birds1Stone's hustle to freedom!

Post by 2Birds1Stone » Sat Nov 11, 2017 9:18 am

October Financial Update

Assets
$112,100 Cash Moolah
$81,700 401k
$47,000 Taxable
$47,200 Roth
$15,700 Ag holdings
$13,100 Vehicle Equity
$13,000 HSA
$10,700 Au Holdings
$340,500 Total Assets (+$12,200)

Spending
$550 Rent/Utility
$100 Grocery
$121 Gas
$372 Entertainment
$300 Depreciation
$50 Cell
$22 Travel
$76 Health
$314 Gifting
$250 Misc (Dress Clothes)
$2,155 Total Spending

Income
$3,550 Salary
$1,720 401k
$480 HSA
$5,871 Commission
$11,621 Total Income

81% Savings Rate

Better late than never.

Rest of the year will be more spending and significantly less income.

I'm trying to figure out how to drop my spending down to <$24k next year, since that is the level I plan on living on when I am FI.

trailblazer
Posts: 77
Joined: Sun Jan 03, 2016 8:18 pm

Re: 2Birds1Stone's 29 month hustle to freedom!

Post by trailblazer » Sat Nov 11, 2017 1:08 pm

great progress! sounds like the employment situation has stabilized. seems like lots of low hanging fruit for dropping spending (entertainment, gifts). But I'm in awe of your grocery spending as this is by far my biggest waste.

2Birds1Stone
Posts: 238
Joined: Thu Nov 19, 2015 11:20 am

Re: 2Birds1Stone's 29 month hustle to freedom!

Post by 2Birds1Stone » Mon Nov 13, 2017 7:07 pm

trailblazer wrote:
Sat Nov 11, 2017 1:08 pm
great progress! sounds like the employment situation has stabilized. seems like lots of low hanging fruit for dropping spending (entertainment, gifts). But I'm in awe of your grocery spending as this is by far my biggest waste.
There is not of low hanging fruit

Alcohol
Eating out
Driving a luxury sports car (2008, but still!)
Vacation spending (we could do better despite travel hacking a lot)
Xmas giving tradition with family, it's excessive imho
Expensive activities with friends (escape the room for example this past saturday for $27/per person)

I've been reading more and more about slow travel and ERE level budget living and I'm growing more motivated to start chipping away at my spending before the gap year we plan in spring of 2020.

2Birds1Stone
Posts: 238
Joined: Thu Nov 19, 2015 11:20 am

Re: 2Birds1Stone's 29 month hustle to freedom!

Post by 2Birds1Stone » Mon Nov 20, 2017 10:15 am

Random Update

I've been spending a lot of time on the nomadic living blogs. Both RV/Van Dwelling as well as slow travel around the world. Some seriously inspiring stuff that people are doing. It gets me thinking about what other things I can be doing over the next 28.5 months (+/- depending on life) to prepare for a successful dry run of the RE life.

1) Possessions - I've already drastically limited accumulation of new possessions over the past few years, slowly starting to pare down my wardrobe, random items I have not used in 12+ months, etc. We will likely rent a storage unit for our larger items that we would like to keep (triathlon bikes, mountain bikes, BIFL kitchen appliances, etc). This is until we find a permanent home base, likely a SFH in a cheap part of the USA.

2) Health - I could stand to lose about 20lbs and cut my drinking back by about 75%. The later should help the former quite a bit. I'm currently 216lbs, and think that this is something I can track in my monthly updates here when I do financial review. I am running and cycling quite a bit and plan on doing another Ironman 70.3, or maybe even a full 140.6 before 2020. I should be a in good cardiovascular shape when we pull the plug.

3) Skills - I would like to learn basic clothing repair, improve my cooking, learn basic car maintenance, and how to do basic carpentry and home repair stuff. A few of my friends are contractors or in various trades. I might see if they would take me on for some side work at low pay in return for more detailed instruction. Would be great to learn how to reno a bathroom or other various work that can lead to one off income in the future.

4) Passive income streams - I don't have a vlog/blog and I don't really have any great ideas for passive income in FIRE, but it's something I would like to explore. Even if I can build a passive income of a couple $100 a month, it would be a big help when living on a low budget in the future.

5) Social network - Leaving work in 2 years means that social interaction will be less conventional compared to working a corporate job. I am slowly making friends around the globe who share similar interests. It will be great to have a network of people to visit, travel with, and host in the future when I am not bound to an office schedule.

6) Travel Hacking - It would be very helpful to accumulate a couple hundred thousand airline/hotel miles over the next two years. Once the schedule is open, deals with points can be had, and a large obstacle of international travel can be mitigated over the first year or two of RE.

2Birds1Stone
Posts: 238
Joined: Thu Nov 19, 2015 11:20 am

Re: 2Birds1Stone's 29 month hustle to freedom!

Post by 2Birds1Stone » Wed Nov 22, 2017 10:49 am

Today I downloaded Duolingo to begin learning spanish.

Many of the places I want to visit or live in are native spanish speaking countries.

2Birds1Stone
Posts: 238
Joined: Thu Nov 19, 2015 11:20 am

Re: 2Birds1Stone's 29 month hustle to freedom!

Post by 2Birds1Stone » Mon Nov 27, 2017 7:34 am

I've been reading Michael McClungs "Living Off Your Money: The Modern Mechanics of Investing During Retirement with Stocks and Bonds" and find it excellently written, covering topics that are often discussed here.

I highly recommend it, and the first3 chapters (100 pages) are available for free.

https://www.amazon.com/Living-Off-Your- ... 0997403411

LiberateMind
Posts: 119
Joined: Fri Oct 26, 2012 8:18 pm

Re: 2Birds1Stone's 29 month hustle to freedom!

Post by LiberateMind » Mon Nov 27, 2017 10:32 am

Thanks for the recommendation. Where can one find the first 100 pages? Amazon is not showing.

2Birds1Stone
Posts: 238
Joined: Thu Nov 19, 2015 11:20 am

Re: 2Birds1Stone's 29 month hustle to freedom!

Post by 2Birds1Stone » Mon Nov 27, 2017 11:41 am

LiberateMind wrote:
Mon Nov 27, 2017 10:32 am
Thanks for the recommendation. Where can one find the first 100 pages? Amazon is not showing.
http://livingoffyourmoney.com/download/1160/

2Birds1Stone
Posts: 238
Joined: Thu Nov 19, 2015 11:20 am

Re: 2Birds1Stone's 29 month hustle to freedom!

Post by 2Birds1Stone » Sat Dec 02, 2017 8:38 am

November Update

Assets
$111,900 Cash Moolah
$87,600 401k
$49,000 Taxable
$47,700 Roth IRA
$15,500 Ag Holdings
$13,100 Vehicle
$13,400 HSA
$10,800 Au Holdings
$349,000 Total Net Worth (+$8,500)

Expenses
$550 Rent/Utility
$95 Grocery
$150 Gas
$320 Entertainment
$50 Cell
$51 Misc
$155 Gifts
$1,371 Total Spend

Income
$1,750 Salary
$4,150 401k
$480 HSA
$1,000 Other (primarily gifts)
$7380 Total Income

81% Savings Rate(kiss that goodbye in december)

Musings

Good month in terms of spending, ok month in terms of income and gains.

Things are moving in the right direction.

wolf
Posts: 588
Joined: Fri Jan 06, 2017 5:09 pm
Location: Germany

Re: 2Birds1Stone's 29 month hustle to freedom!

Post by wolf » Sat Dec 02, 2017 1:25 pm

Hi 2Birds1Stone. That is great progress. Your Savings Rate is quite high!
Thank you for the recommendation for "Living off your money". I read it and find "Prime Harvesting" quite useful appliable. What are your thoughts about the book? Do you want to apply some principles from it, or do you even apply them today?

LiberateMind
Posts: 119
Joined: Fri Oct 26, 2012 8:18 pm

Re: 2Birds1Stone's 29 month hustle to freedom!

Post by LiberateMind » Sat Dec 02, 2017 10:11 pm

2Birds1Stone wrote:
Mon Nov 27, 2017 7:34 am
Thanks.

2Birds1Stone
Posts: 238
Joined: Thu Nov 19, 2015 11:20 am

Re: 2Birds1Stone's 29 month hustle to freedom!

Post by 2Birds1Stone » Tue Dec 05, 2017 2:29 pm

MDFIRE2024 wrote:
Sat Dec 02, 2017 1:25 pm
I have not yet begun to implement much of it as it deals with spending down wealth, but it provides a lot of food for thought on how one would want to allocate investments during accumulation to support many of his ideas. Whether through asset allocation, fund placement, CD ladders etc.

I love learning about these topics, I feel like it helps me to grasp concepts and their implementation way before I will actually need to.

2Birds1Stone
Posts: 238
Joined: Thu Nov 19, 2015 11:20 am

Re: 2Birds1Stones' 28 month hustle to freedom!

Post by 2Birds1Stone » Thu Dec 28, 2017 7:04 pm

December and 2017 End Of Year Financial Recap

December Financial Report

Assets
$116,800 Cash
$93,000 401k
$49,900 Taxable
$48,300 Roth IRA
$15,880 AG Holdings
$12,800 Vehicle Equity
$14,000 HSA
$10,933 Au Holdings
$361,613 Total Assets (+$12,500)

Spending
$550 Rent
$101 Grocery
$68 Gas
$333 Entertainment
$300 Depreciation-Car
$50 Cell
$20 Health
$432 Gifts
$1,894 Total Spending

Income
$1,750 Salary
$4,150 401k
$480 HSA
$3,250 Commission
$400 Other
$10,030 Total Income

81% savings Rate

End of 2017 Wrap Up

Spending
$6,600 Rent/Utility
$1,060 Grocery
$1,424 Gas
$3,590 Entertainment
$2,900 Depreciation
$471 Vehicle Fund
$1,473 Travel
$600 Cell
$1,284 Insurance
$689 Health/Hygiene
$2,753 Misc
$1,516 Gifting
$24,360 Total 2017 Spending

Income
$25,950 Salary
$21,912 401k
$6,800 HSA
$670 Overtime
$35,156 Commission
$9,512 Other
$100,000 Total Income

~76% Savings Rate

$105,000 Net Worth Gain

classical_Liberal
Posts: 351
Joined: Sun Mar 20, 2016 6:05 am

Re: 2Birds1Stones' 28 month hustle to freedom!

Post by classical_Liberal » Fri Dec 29, 2017 3:33 am

A kick ass and take names year!

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