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Re: 2Birds1Stone's hustle to freedom!

Posted: Tue Feb 28, 2017 11:33 am
by 2Birds1Stone
Happy Fat Tuesday Folks!

Re: 2Birds1Stone's hustle to freedom!

Posted: Tue Feb 28, 2017 1:54 pm
by halfmoon
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!

Re: 2Birds1Stone's hustle to freedom!

Posted: Wed Apr 12, 2017 9:13 am
by 2Birds1Stone
58.3% Savings Rate

Re: 2Birds1Stone's hustle to freedom!

Posted: Wed Apr 12, 2017 9:38 am
by 2Birds1Stone
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.

Re: 2Birds1Stone's hustle to freedom!

Posted: Wed Apr 12, 2017 10:07 am
by George the original one
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?

Re: 2Birds1Stone's hustle to freedom!

Posted: Fri Apr 14, 2017 12:52 pm
by 2Birds1Stone
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.

Re: 2Birds1Stone's hustle to freedom!

Posted: Tue Jun 27, 2017 8:55 am
by 2Birds1Stone
It's been awhile since I've updated here.

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.

Re: 2Birds1Stone's hustle to freedom!

Posted: Thu Jul 20, 2017 11:03 am
by 2Birds1Stone
*Late*

Re: 2Birds1Stone's hustle to freedom!

Posted: Thu Jul 20, 2017 11:06 am
by 2Birds1Stone
Did a lot of consolidating on the different bank accounts I had.

Still very cash heavy in the overall portfolio.

Re: 2Birds1Stone's hustle to freedom!

Posted: Thu Jul 20, 2017 8:30 pm
by classical_Liberal
...

Re: 2Birds1Stone's hustle to freedom!

Posted: Thu Jul 20, 2017 11:52 pm
by Allagash
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.

Re: 2Birds1Stone's hustle to freedom!

Posted: Fri Jul 21, 2017 9:03 am
by 2Birds1Stone
Thanks for stopping by! I'll try to answer your questions here instead of line by line.

Re: 2Birds1Stone's hustle to freedom!

Posted: Fri Jul 21, 2017 1:30 pm
by Allagash
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).

Re: 2Birds1Stone's hustle to freedom!

Posted: Mon Jul 31, 2017 12:36 pm
by 2Birds1Stone
....makes me wonder how I react when I lose multiples of that during the next stock correction or bear market.

Re: 2Birds1Stone's hustle to freedom!

Posted: Thu Aug 24, 2017 8:59 am
by 2Birds1Stone
Mini Update

As long as the compensation offer is where I want it to be, I will accept.

Re: 2Birds1Stone's hustle to freedom!

Posted: Thu Aug 24, 2017 11:55 am
by wolf
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!

Re: 2Birds1Stone's hustle to freedom!

Posted: Fri Aug 25, 2017 12:32 pm
by Jason
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/

Re: 2Birds1Stone's hustle to freedom!

Posted: Mon Aug 28, 2017 7:57 pm
by 2Birds1Stone
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 ~1ct round cut .
MDFIRE2024 wrote:
Thu Aug 24, 2017 11:55 am


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.

Re: 2Birds1Stone's hustle to freedom!

Posted: Wed Aug 30, 2017 3:16 pm
by Jason
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.

Re: 2Birds1Stone's hustle to freedom!

Posted: Thu Aug 31, 2017 3:17 pm
by 2Birds1Stone
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.