2Birds1Stone's 29 month hustle to freedom!

Where are you and where are you going?
2Birds1Stone
Posts: 71
Joined: Thu Nov 19, 2015 11:20 am

Re: 2Birds1Stone's hustle to freedom!

Post by 2Birds1Stone » Tue Feb 28, 2017 11:33 am

February Financial Update

Barring any crazy market shifts throughout today.

Assets
$64,400 401k
$42,200 Brokerage
$43,000 Roth IRA
$17,000 Ag Holdings
$10,000 SDB Savings
$100 Discover Bank
$14,500 Vehicle Equity
$43,000 Capital One 360
$15,250 TIAA
$1,500 BoA Checking
$9,140 HSA
$10,600 Au Holdings
$500 Cash
$300 Chase Savings
$1,500 Chase Checking
$1,500 HSBC
$1,100 Schwab
$100 M&T Checking
$250 Wells Fargo
$2,500 TD Checking
$278,500 Total Assets (+$13,300)

Spending
$550 Rent
$80 Grocery
$128 Gas
$420 Entertainment (Xbox One S, 3 Games, Controller, 1 Year Live)
$1000 Vehicle Depreciation (wowza!)
$759 Insurance (1 year Motorcycle+ 6 Month Car)
$1082 Travel (Ticket to Poland)
$50 Cell
$42 Misc.
$82 Gift/Charity
$4,203 Total Spending (Highest Spending Month in 2.5 years!)

Income
$2,100 Salary
$1,068 401k
$480 HSA
$2,775 Commission
$6,687Other (Coaching/Bank Sign Ups/Tax Refund)
$13,110 Total Income

68% Savings Rate

Musings

Good Month income wise, thanks to some commission and a nice tax refund. Spending insanely high, for me at least. Crazy to think that $50k/yr annualized would still be deemed very frugal by most people at my income level. Unless the markets crash by end of business today, I am sitting at 11.6X current annual expenses and 17.4X barebones expenses. Slowly but surely!

62 months till FIRE! Feels surreal. I have a metric fuckton going on at work. Between ambiguity around planning for next fiscal year (April 1), team structure, comp plans, territory shifts, account segmentation, etc there is a lot of stress.
I have a few transactions out there, both small, and one large that can really swing how this year gets off to a start.

Outside of work, things have been a mixed bag. I have only consumed alcohol on two occasions over the past 2 weeks. This is a HUGE win and probably a record over the past 6 years (no exaggerations). I got really sick last week, started off as food poisoning and turned into some terrible migraines/tension headaches. I still have a headache that feels like it’s coming from the base of my head/neck and my sinus through today. It’s been 7 days now. Excedrin helps, ice helps, but it keeps coming back after I wake up in the morning. Ugh.

Happy Fat Tuesday Folks!

halfmoon
Posts: 630
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Re: 2Birds1Stone's hustle to freedom!

Post by halfmoon » Tue Feb 28, 2017 1:54 pm

2Birds1Stone wrote: I still have a headache that feels like it’s coming from the base of my head/neck and my sinus through today. It’s been 7 days now. Excedrin helps, ice helps, but it keeps coming back after I wake up in the morning. Ugh.
You have my utmost sympathy. Causes and treatments for chronic headaches obviously vary by individual, but Naproxen (Aleve) usually works for me to break the cycle for awhile. Any other NSAIDs give me rebound headaches. Good luck!

2Birds1Stone
Posts: 71
Joined: Thu Nov 19, 2015 11:20 am

Re: 2Birds1Stone's hustle to freedom!

Post by 2Birds1Stone » Wed Apr 12, 2017 9:13 am

March Financial Update

Assets
$65,700 401k
$48,100 Brokerage
$43,300 Roth IRA
$17,000 Ag Holdings
$10,000 SDB Savings
$1,100 Discover Savings
$14,200 Vehicle Equity
$53,500 Capital One MM
$1,500 BoA Checking
$9,620 HSA
$10,500 Au Holdings
$300 Chase Checking
$1,500 Chase Savings
$375 Santandar
$1,500 HSBC
$1,100 Schwab
$250 Wells Fargo
$100 M&T
$2,500 TD
$282,145 Total Assets
-$145 Debt
$282,000 Net Worth (+3,500)

Spending
$550 Rent
$126 Grocery
$116 Gas
$310 Entertainment
$300 Vehicle Depreciation
$139 Vehicle Fund
$132 Travel
$50 Cell
$144 Health
$92 Misc
$6 Gifting
$1,965 Total Spending

Income
$2,100 Salary
$1,068 401k
$480 HSA
$150 Overtime
$715 Commission
$200 Other
$4,713 Total Income

58.3% Savings Rate

2Birds1Stone
Posts: 71
Joined: Thu Nov 19, 2015 11:20 am

Re: 2Birds1Stone's hustle to freedom!

Post by 2Birds1Stone » Wed Apr 12, 2017 9:38 am

My job just got a whole lot worst.

We acquired a large competitor and as of this month there is a huge consolidation project where most of my existing business unit will likely become obsolete. Too much redundancy across the existing and new teams. We are essentially getting "managed out" and it will effect income potential drastically moving forward.

This along with other recent events have really pushed me to consider a more scaled back FIRE lifestyle, which would allow me to get out of the workforce as soon as possible.

I have been discussing with my SO the possibility of taking a gap year at the beginning of 2020, around March. We will still be a solid 3-5 years away from our original FIRE goal portfolio, but have enough stached to take a year off while we are young. When we go back to work, it will unfortunately be at a reduced pay, but at that point we should have the flexibility to find something we enjoy doing till we get to that goal $#.

The biggest thing we are exploring is becoming full time RVers. It looks like we could travel around in an RV for $24-30k/yr all in. I have been following blogs, vlogs, forums on the subject and it seems to align very much with our goals and desires. The biggest unknown right now will be the cost of healthcare when we are ready to take the plunge. Barring any crazy increase in premiums I think that we will be in a good spot to take a year off.

Some other ideas include thru-hiking the Appalachian Trail, which can be done for $10-12k for two people. Taking 6-8 months to do so nice and slowly.

My family also has an apartment in Poland where we can stay rent free and it is very LCOL. $2k/month can provide us a very comfortable living for 3-6 months out of the year.

Regardless of how we end up spending out year off, the main point is going to be taking that year and test driving some RE lifestyles.

Look forward to discussing plans and ambitions with you all, I have a feeling the feedback here will be valuable in shaping those decisions as the time draws nearer.

George the original one
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Re: 2Birds1Stone's hustle to freedom!

Post by George the original one » Wed Apr 12, 2017 10:07 am

Quickly looking over your spending, it looks like 35-40% gets spent on vehicles & entertainment. I would think figuring out how to reduce these expenses without affecting the enjoyment you perceive should be a high priority in your quest for FIRE? Imagine the RV living cost dropping to the $19k-24k range... how might that change your plans?

2Birds1Stone
Posts: 71
Joined: Thu Nov 19, 2015 11:20 am

Re: 2Birds1Stone's hustle to freedom!

Post by 2Birds1Stone » Fri Apr 14, 2017 12:52 pm

George the original one wrote:
Wed Apr 12, 2017 10:07 am
Quickly looking over your spending, it looks like 35-40% gets spent on vehicles & entertainment. I would think figuring out how to reduce these expenses without affecting the enjoyment you perceive should be a high priority in your quest for FIRE? Imagine the RV living cost dropping to the $19k-24k range... how might that change your plans?
That's a fair assessment.

Last year I spent right around $25.2k, this year I should come in between $25-26k, so I'm already close to that range.

I guess one thing I haven't really gotten into here is my hobbies/interests etc. I am a big believer in spending on things/experiences/etc that align with someone's values. I try to keep my fixed costs as low as possible and indulge in areas where I feel the value is there.

That being said, I could definitely get that number pared down.

Part of it will happen naturally due to depreciation curve on the car I purchased. I spend $16.9k on a sports car last year gently used with 21,450 miles, the original owner paid $45k for it. It should depreciate less and less as time goes on.

Entertainment tends to vary quite a bit, last year I averaged $248 in "entertainment" per month, and $280 in "travel". Both of these are completely discretionary but worth it to me. Combined, these two categories only represented almost exactly 5% of my take home pay. So while I am definitely looking to maximize my utility of $$, I am not sure how much lower I can cut this without adjusting my lifestyle significantly.

Edit : Just to clarify, the $24-30k in my previous post was for the two of us. My $25k/yr in spending is for just myself.

2Birds1Stone
Posts: 71
Joined: Thu Nov 19, 2015 11:20 am

Re: 2Birds1Stone's hustle to freedom!

Post by 2Birds1Stone » Tue Jun 27, 2017 8:55 am

It's been awhile since I've updated here.

Financially things are looking good.

Net worth will hit $308k by Friday if all goes well with the markets.

Spending has been 1500 for April, 1200 for May, and $1650 for June. May was an abnormally high income month thanks to a large commission check. I was able to invest $15k for May, $5k in April, and $4k in June.

I raced an Olympic distance Triathlon first week of June. It was a rude awakening that I have a lot of work to do for my IRONMAN Lake Placid 70.3 mile race on Sept 10th. Dove head first into a training program and have built up to about 20 miles of running and 80 miles of cycling a week.

Leaving for Poland on Friday, will be gone till July 16th. Really looking forward to seeing my family, doing some hiking and exploring.

2Birds1Stone
Posts: 71
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Re: 2Birds1Stone's hustle to freedom!

Post by 2Birds1Stone » Thu Jul 20, 2017 11:03 am

*Late* June Financial Update

Assets
$73,200 401k
$51,000 Taxable
$45,000 Roth IRA
$15,700 Ag Holding
$10,000 SDB Savings
$14,200 Vehicle Equity
$71,200 Capital One 360
$2,200 BOA Checking
$11,000 HSA
$10,500 Au Holding
$4,000 BMO Harris
$308,000 Total Assets (+$3,800)

Spending
$550 Rent
$102 Grocery
$140 Gas
$330 Entertainment
$10 Vehicle
$220 Travel
$50 Cell
$50 Health
$5 Misc
$133 Gift/Charity
$1,590 Total Spend

Income
$2,100 Salary
$1,068 401k
$480 HSA
$145 OT
$200 Commission
$225 Bank bonus
$4,218 Total Income

2Birds1Stone
Posts: 71
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Re: 2Birds1Stone's hustle to freedom!

Post by 2Birds1Stone » Thu Jul 20, 2017 11:06 am

Did a lot of consolidating on the different bank accounts I had.

Still very cash heavy in the overall portfolio.

classical_Liberal
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Re: 2Birds1Stone's hustle to freedom!

Post by classical_Liberal » Thu Jul 20, 2017 8:30 pm

Good Progress!

I've been having issues reallocating cash in this low inflation/high asset valuation economic environment as well. I'd like to keep my cash at 10% in the long run, but am currently sitting at about 30%. It's slowly been building over the past six to nine months, at the moment I guess I prefer the total liquidity...

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Allagash
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Location: WA State

Re: 2Birds1Stone's hustle to freedom!

Post by Allagash » Thu Jul 20, 2017 11:52 pm

Very impressive, you are in a tremendous place for your age and making great progress. Nice detail in your journal.

I think two big keys for you are low rents and low groceries. How do you keep rents at $550/mo? And where do you live in the U.S. to have $550/mo in rents (including utilities)? My guess is you split with your SO?

Do you have home internet? I didn't see this in your expenses.

So glad you add vehicle depreciation in your expenses. SOOOO many people leave this out! I bought my car for cash 2 years old in Jan 2012 for $14k (including tax and registration) and I could get $6k for it today, so my depreciation has been $121/mo.

Is restaurants under entertainment?

I'm impressed with how you spent $3.70 per day in 2016 on food. I spent $6.16 per day in 2016 as a single guy and I eat simpler than anyone I know. I guess you get economies of scale splitting with your SO.

I spent $38,700 in 2016, so I get an F. I dream to spend what you did $25k, Where you really kill me is rent (I pay $1,250 no including utilities you pay $550 including utilities). I also have to cover my own health ins being FI self-employed, and I have costs related to my S Corp (accounting, payroll, etc...)

You have a good life too and do a lot of travel on that $25k. Having a $550/mo rent including utilities helps a lot.

2Birds1Stone
Posts: 71
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Re: 2Birds1Stone's hustle to freedom!

Post by 2Birds1Stone » Fri Jul 21, 2017 9:03 am

classical_Liberal wrote:
Thu Jul 20, 2017 8:30 pm
Good Progress!

I've been having issues reallocating cash in this low inflation/high asset valuation economic environment as well. I'd like to keep my cash at 10% in the long run, but am currently sitting at about 30%. It's slowly been building over the past six to nine months, at the moment I guess I prefer the total liquidity...
Yea, I have way too much cash, 3+ years of living expenses.....but I am very risk averse LOL.
Allagash wrote:
Thu Jul 20, 2017 11:52 pm
Very impressive, you are in a tremendous place for your age and making great progress. Nice detail in your journal.

I think two big keys for you are low rents and low groceries. How do you keep rents at $550/mo? And where do you live in the U.S. to have $550/mo in rents (including utilities)? My guess is you split with your SO?

Do you have home internet? I didn't see this in your expenses.

So glad you add vehicle depreciation in your expenses. SOOOO many people leave this out! I bought my car for cash 2 years old in Jan 2012 for $14k (including tax and registration) and I could get $6k for it today, so my depreciation has been $121/mo.

Is restaurants under entertainment?

I'm impressed with how you spent $3.70 per day in 2016 on food. I spent $6.16 per day in 2016 as a single guy and I eat simpler than anyone I know. I guess you get economies of scale splitting with your SO.

I spent $38,700 in 2016, so I get an F. I dream to spend what you did $25k, Where you really kill me is rent (I pay $1,250 no including utilities you pay $550 including utilities). I also have to cover my own health ins being FI self-employed, and I have costs related to my S Corp (accounting, payroll, etc...)

You have a good life too and do a lot of travel on that $25k. Having a $550/mo rent including utilities helps a lot.
Hey there Allagash, thanks for stopping by! I'll try to answer your questions here instead of line by line.

My SO and I live in a small 1 bedroom basement apartment in a rental house. We have a long hallway and a storage room so space is perfect for our needs. We also have access to a large fenced backyard with a BBQ and outdoor patio furniture that the family upstairs never uses.

While we do live in a pretty HCOL area (Suffolk County, Long Island NY), our rent is $1,100/month and since we are not on separate meters it includes water, electric, and WiFi. We do not watch television, and use an unlocked Amazon Fire TV Stick instead. So you are correct, $550 is my half.

Groceries is also for my half. We do a lot of cooking, and shop primarily at Aldi.

I am lucky that at work we have a fully stocked pantry with milk for coffee. For breakfast I either have some oatmeal or a scoop of protein with milk. My breakfast rarely costs more than $.50/day.

For lunch I usually have 8oz of lean protein (chicken, pork, beef) which rarely costs more than $1-2, with some rice, pasta, or veggies.

My office caters a lot of lunches for meetings, when these meetings end the leftovers are often put in the pantry for the rest of the office to enjoy. I will often take a few extra pieces of sandwich, pizza, or other food and put it in tupperware and enjoy it for the next day or two.

Early morning meetings are sometimes catered with bagels, where I do the same thing with leftovers.

During the holidays my SO and I take advantage of leftovers that we freeze. We fish and have friends who hunt so we get some meals by way of barter as well.

I don't think that $200-250/month grocery budget is crazy low for a couple that eats mainly unprocessed food.

Restaurants and bars fall under Entertainment category. We use Groupon, Living Social and other deal sites to score meals at 50-70% off retail at nicer restaurants. We also know the good happy hour spots where you can enjoy a nice out with a meal and drinks for <$20.

As a couple our spending is ~45-48k/yr if we count vehicle depreciation and health insurance which is deducted pre-tax. That's about the median household income in the US. We get a lot of utility out of our money.

I'm a HUGE lover of travel hacking and we have 100's of 1000's of airlines miles and hotel points. I also leverage account signup bonuses for checking/savings accounts. in the past 12 months I have made $3050 from these bonuses.

I am always working toward a sign up bonus on a travel/hotel CC.

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Allagash
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Re: 2Birds1Stone's hustle to freedom!

Post by Allagash » Fri Jul 21, 2017 1:30 pm

2Birds1Stone you are another one of these super impressive young folk on this site that has their head screwed on right. The future is so bright you gotta wear shades. Keep it up man!

I notice a theme on this sight that having a SO or roomates is a big ERE secret for many, especially in high cost areas. Keep that little gal you got that gets half the bills....I'm in my 40's and the datin' ain't easy no more...it was a hell of a lot easier in my 20's and the gals were purdy-er back then, should have locked up one back then. Toughest nut to crack as a single 35+ in HCL areas is rent/housing....b/c roommates are a NO GO ZONE past early 30's (at least for me they were...they even sucked a lot pretty much past 25).

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

Post by 2Birds1Stone » Mon Jul 31, 2017 12:36 pm

July Financial Update

Assets
$75,500 401k
$52,000 Brokerage
$45,800 Roth IRA
$15,800 Ag Holding
$8,000 SDB Savings
$13,800 Vehicle Equity
$78,000 Capital One 360
$2,000 Bank of America
$11,400 HSA
$10,700 Au holdings
$313,000 Total Assets (+$5,000)

Spending
$540 Rent Utility
$49 Grocery
$92 Gas
$227 Entertainment
$400 Depreciation
$30 Vehicle Fund
$325 Travel
$50 - Cell
$90 - Health/Hygiene
$2,040 - Misc (ring bling)
$3,883 Total Spending

Income
$2,100 Salary
$1,068 401k
$480 HSA
$1,760 Commission
$5,408 Total Income

~28% Savings Rate

Musings.....
Decent income month, super high spending month.....although more than half was the ring, which I should be getting this week.

Thanks to the airline refund, I should manage to eek out my 2017 total spending ~$24k, which means $22k sans ring.

Thanks to market returns NW still went up $5k this month. Crazy to think that is enough of a gain to sustain 3 years of basic living expenses.....makes me wonder how I react when I lose multiples of that during the next stock correction or bear market.

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

Post by 2Birds1Stone » Thu Aug 24, 2017 8:59 am

Mini Update

I got engaged 2 weeks ago, pretty excited and SO was completely surprised. We have been together over 6 years cohabiting almost the entire time.

I also have been interviewing for a new position within my company. It would be a step up but much more responsibility and travel. As long as the compensation offer is where I want it to be, I will accept.

MDFIRE2024
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Location: Germany

Re: 2Birds1Stone's hustle to freedom!

Post by MDFIRE2024 » 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
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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: 71
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.

The ring was less than ~1 weeks worth of gross 2016 income.

I went with a beautiful double bypass setting in white gold, with a 1.25ct round cut moissanite center stone. She absolutely loves it and no one else needs to know that it's not a mined diamond.

I hate the diamond industry and would never support it.
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.

Jason
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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
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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: 71
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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: 71
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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
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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: 71
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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: 71
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.

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