Fish's Enlightenment

Where are you and where are you going?
Seppia
Posts: 1319
Joined: Tue Aug 30, 2016 9:34 am
Location: Italy

Re: Fish's Enlightenment

Post by Seppia »

I miss you being more active on this board, but I guess you being the quintessential example of quality over quantity this was a normal evolution of your participation pattern.
You're always a great read, keep kicking ass

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jennypenny
Posts: 6388
Joined: Sun Jul 03, 2011 2:20 pm
Location: Stepford USA

Re: Fish's Enlightenment

Post by jennypenny »

I'm glad things are going well for you, Fish. I like what you said about not using your kids as an excuse for failed expectations.

classical_Liberal
Posts: 1367
Joined: Sun Mar 20, 2016 6:05 am

Re: Fish's Enlightenment

Post by classical_Liberal »

just one more who is glad to hear from you in an update. Also happy to read things have leveled out a bit a home.

Climate change is a tough one. I don't even have kids, hence no personal genetic skin in the game, other than the future of my species. Still, I feel a moral obligation to not be a complete ass about the situation and do my part. It gets frustrating though. Like when I'm walking to work and getting honked at by helicopter mom in her fancy SUV for offending her by using the crosswalk. Seriously lady! The "do the right thing" mentality is hard to maintain when i feel more like "let it burn". Luckily, my natural inclination for minimalism makes some participation on the correct side of the fence easy.

Fish
Posts: 538
Joined: Sun Jun 12, 2016 9:09 am

Re: Fish's Enlightenment

Post by Fish »

Projected savings rate for 2018: 55%

There is a lot I could write about my 2018 spending, but the words would be wasted. As @suo mentioned in his journal, health insurance is perhaps the biggest obstacle to FI/RE with a family. Partly because of this, I am realizing that the path I am on will not lead to FI anytime soon. To get there, something has to change: either we cut spending to MMM level, or I start a biz.(*) Neither is likely, but that is reality.

(*) WSP influence clearly showing here.

Furthermore, I will have to ramp up the effort at work. Not trying to get promoted (the reward wrt effort is not there at this stage), just want to avoid unnecessary stress at work due to underperformance. It’s interesting this whole FI/RE thing was started to get away from my job, but I have rediscovered that work can and should be fun.

Lastly, the impact of DW’s efforts at reducing expenses is starting to show, but as much as it’s appreciated the big picture is not changing that much (something like FI in 12 years instead of 15).

And copying a nice quote out of the discussion in CL’s journal:
Jin+Guice wrote:
Sun Nov 18, 2018 12:43 pm
3) Numbers and math. I like them too, but don't let them fool you. $x doesn't make you free. You make you free. Money is just one of the tools you can use.
This is a great reminder. I consider myself FU but not FI, which is already plenty of confidence to enact whatever life change is desired, short of stopping work permanently. Fear and insecurity is used to sell products (personal finance included), and it is easy to fall victim to the idea that one always needs more money regardless of the current position. But the reality is, unless there’s a cash flow problem, there’s no such thing as needing more money to do X. Any barrier is purely psychological.

classical_Liberal
Posts: 1367
Joined: Sun Mar 20, 2016 6:05 am

Re: Fish's Enlightenment

Post by classical_Liberal »

Glad to read you're (re)learning to have some fun at work! It makes a huge difference in the day-to-day. A 55% savings rate is pretty fantastic, even by most FIRE standards.
Fish wrote:
Sat Dec 01, 2018 1:52 pm
health insurance is perhaps the biggest obstacle to FI/RE with a family.
Health insurance is a hard one. Even as a single guy who wants to move locations it becomes a huge hassle. Even If I manufacture an income for ACA purposes, due to balance billing practices I'd have to constantly change polices in each new state I live. Talk about a nightmare! Frankly, I'm not sure if the combination of having to manufacture the "correct" income range AND reapply so often is worth the subsidies.

For myself, I have considered non-aca compliant disaster policies. I don't think they are going to collect the tax penalty anymore and I'm ok with the risk of contracting a chronic disease and having preexisting condition issues on renewals. I actually have a plan for such a situation. However, that's just me as an individual, I would not be cool with the above plan if I had dependents relying on the coverage.

Don't underestimate the voting power of millennials. One thing every single millennial seems to agree on is fixing healthcare in this country. So, I have a feeling that healthcare will come to a forefront very soon in the political landscape, hence a solution may materialize for you.
Fish wrote:
Sat Dec 01, 2018 1:52 pm
Lastly, the impact of DW’s efforts at reducing expenses is starting to show, but as much as it’s appreciated the big picture is not changing that much (something like FI in 12 years instead of 15).
Three years IS big! More importantly, Fish DW is showing a willingness to change and is respecting something that is very important to you. Given your family history with the subject, that is a really big deal.

wolf
Posts: 1016
Joined: Fri Jan 06, 2017 5:09 pm
Location: Germany

Re: Fish's Enlightenment

Post by wolf »

Glad to read an update from you Fish! I still reread some of your posts in your journal and other threads, e.g. about deliberately coasting to FI and others. They give me inspirations and food to think about. From some of them I can learn also a great deal, because they have some great insights for me personally. You really do help people with them.

And then you write another update and it resonates with me instantly. :) How do you do this? ;)
Fish wrote:
Sat Dec 01, 2018 1:52 pm
And copying a nice quote out of the discussion in CL’s journal:

Jin+Guice: "Numbers and math. I like them too, but don't let them fool you. $x doesn't make you free. You make you free. Money is just one of the tools you can use."

This is a great reminder. I consider myself FU but not FI, which is already plenty of confidence to enact whatever life change is desired, short of stopping work permanently. Fear and insecurity is used to sell products (personal finance included), and it is easy to fall victim to the idea that one always needs more money regardless of the current position. But the reality is, unless there’s a cash flow problem, there’s no such thing as needing more money to do X. Any barrier is purely psychological.
Totally true, that is a great reminder. I wouldn't say, that I struggle with this psychological issue, but it is definately true, that it has an influence on me. Fear of running out of money is an issue. On the other hand, if you improve your ERE-skills and therefore reduce your expenses or/and increase your income (streams), that fear will lose its power.

Since following ERE I (have to) deal with such psychological / behavioural aspects of money. And that itself is also rewarding. Otherwise I wouldn't have the need to think about such things, because it seems normal to have suche "psychological barriers" for mainstream.

Well, congrats to the projected SR! It's a good thing, that your DW makes progress. Even 3 years makes a huge difference. And you never know if it's further improving. Take care.

suomalainen
Posts: 721
Joined: Sat Oct 18, 2014 12:49 pm

Re: Fish's Enlightenment

Post by suomalainen »

Fish wrote:
Sat Dec 01, 2018 1:52 pm
health insurance is perhaps the biggest obstacle to FI/RE with a family. Partly because of this, I am realizing that the path I am on will not lead to FI anytime soon. To get there, something has to change: either we cut spending to MMM level, or I start a biz.(*) Neither is likely, but that is reality.
...
Lastly, the impact of DW’s efforts at reducing expenses is starting to show, but as much as it’s appreciated the big picture is not changing that much (something like FI in 12 years instead of 15).
...
Any barrier is purely psychological.
Does acceptance of the first two realities not help with removing the third? Or does @fish still have trouble letting go? As a parent, there are so many things to worry about, you'd think being in a situation to let go of one of them (cash flow concerns) would be freeing, yet some of us (e.g., me) find it scary to let go of one of our favorite worries. It's almost like we want the movie to end a certain way and don't want to accept the fact that it will end a different way even though embracing this alternate ending actually makes for a better movie.

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