wolf's journal

Where are you and where are you going?
fingeek
Posts: 60
Joined: Wed May 24, 2017 8:16 am
Location: South Wales

Re: wolf's journal

Post by fingeek » Sun Dec 30, 2018 1:02 pm

Bloody hell wolf, a sustained 89% SR throughout the year. This is fantastic progress, and I will just point out that a >25yrs of FI and < 4% WR is by many metrics FI! This means you've reached true resilience and you now have the freedom and choice to decide what to do. Whether that's coastFI, part time working, or just continuing doing what you're doing. The rest is just details, and down to comfort levels :)

Congratulations is very much in order!

---

Now might be a good time to start thinking out the logistics/mechanics of living off non-work income. I attempted to highlight my plan at viewtopic.php?f=9&t=9064&start=20#p162744 and it's working out well. £400/month (~20% of needed expenses) now is coming from my own salary, and I've practically got the structure in place now to completely separate my work salary into a different bank account that I need not touch. Worth thinking about for next year?

wolf
Posts: 760
Joined: Fri Jan 06, 2017 5:09 pm
Location: Germany

Re: wolf's journal

Post by wolf » Sun Dec 30, 2018 2:21 pm

Forskaren wrote:
Sun Dec 30, 2018 12:49 pm
It looks like that you were very frugal already before giving it a deeper thought.
What happened the year when your savings rate was low? Did you include some big purchase that year, like a car?
In comparison to my current spending (~1 JAFI) I was not frugal in the years between 2005 till 2015, because I spend at least 2-4 times as much.
Luckily I started saving with my first paycheck back in 2005. I guess saving, being frugal, optimizing, reducing, increasing efficiency etc... (INTJ-things) have been always a part of me. So I was able to save between 40-60% of my income.
Then came 2012 and 2013. :D I finished a big project at work and I was motivated to "achieve" something big in my (leisure) life. I decided to do a seven months sabbatical. It was life-changing for me, because I used to by shy and restrictive. And then I were travelling alone in Australia and SEA. Although it was expensive (therefore 0% SR), it was totally worth it. I am so thankful, that I did it. :D

@fingeek: Thank you! I'm thinking of the "logistics/mechanics of living off non-work income" for quite some time. So far I make a simulation based on Living Off Your Money by Michael McClung. The results are promising. And I plan for further "margin of safety". Of course one huge margin of safety is the very low spending. But I could improve on the income side. I want to build another income stream, which would be independent from the current ones. Well, and I'm building my portfolio. The market downturn is quite useful in that sense.

Nicolino
Posts: 9
Joined: Thu Dec 06, 2018 6:16 am

Re: wolf's journal

Post by Nicolino » Wed Jan 09, 2019 10:01 am

wolf wrote:
Thu Jun 28, 2018 11:33 am
Thanks for putting that speadsheet together. Very interesting.

Following your journal. Very interesting, also very interested in Germany. I have always been fascinated by the country, and absolutely fell in love with Bavaria since visiting a couple of months ago. I dream about living a couple of years there...

Rooting for you!

wolf
Posts: 760
Joined: Fri Jan 06, 2017 5:09 pm
Location: Germany

Re: wolf's journal

Post by wolf » Sat Jan 12, 2019 3:06 am

Thanks Nicolino.
Where have you been to Bavaria?

Nicolino
Posts: 9
Joined: Thu Dec 06, 2018 6:16 am

Re: wolf's journal

Post by Nicolino » Sat Jan 12, 2019 11:09 am

I spent almost a week in Munich, also spent a day in Freising and Bamberg (but that´s Franconia). I also spent 4 days in Vienna (I think you are fron there?), really liked Vienna and thought it was a wonderful city, but was just in awe with Munich in regards of the quality of life people seem to have there. Thought the city was the perfect size, exciting but not too crowded with excellent infrastructure, lots of green spaces. Expensive though, wondered if elsewhere in Bavaria you can get that same quality of life but with a more affordable price tag? Always have been a great fan of Germany, visited Berlin, Dusseldorf and Koln 10 years ago, so I was happy to go back last year. Also really like Dusseldorf, but felt that landscapes in Bavaria were a little bit more inspiring.

I really want to get my partner excited about Germany since that is a country where I could eventually see myself rising a family...

wolf
Posts: 760
Joined: Fri Jan 06, 2017 5:09 pm
Location: Germany

Re: wolf's journal

Post by wolf » Sat Jan 12, 2019 11:28 am

Munich is a great city to live and work, but very expensive unfortunately. I don't know all cities from Bavaria, but I guess that there is not another city with the quality of life like Munich. There are smaller cities, which are also very great, e.g. Regensburg, Obersdorf, Würzburg, Passau, etc. Bavaria is a great place to rise a family, if you have a regular income (either by work or investments). Bavaria, and many other states in Germany, is very family-friendly. But Bavaria supports a family with children with an additional children support. Where are you from?

Nicolino
Posts: 9
Joined: Thu Dec 06, 2018 6:16 am

Re: wolf's journal

Post by Nicolino » Sat Jan 12, 2019 11:39 am

Indeed, I got the feeling it was very family friendly, saw a LOT of families and kids in comparison to other places in Europe that I have visited recently. I am originally from Argentina, but I live in Chile right now. I have Spanish citizenship, that I think would make moving to Europe easier. I have always wanted to spend some years in Europe but have trouble convincing my girlfriend. She wants to be close to family (don´t all women want to?) and prefers the warm weather/ beach and "modern places", I much rather prefer temperate/cool weather and prefer the more urban / historical feel of most Europe.

Tiarellla
Posts: 7
Joined: Sun Jan 06, 2019 3:39 am
Location: Germany

Re: wolf's journal

Post by Tiarellla » Sat Jan 12, 2019 4:39 pm

@Nicolino,
I suggest to have a look at Nürnberg, Fürth and Erlangen. These are actually my favorites with respect to quality of life and living cost. Now I am living close to Munich as my DH works there but as soon as he decided to quit his job we will move to this area. Especially apartments are much cheaper and easier to find. And people are more down to earth compared to Munich where status is extremely important.

Nicolino
Posts: 9
Joined: Thu Dec 06, 2018 6:16 am

Re: wolf's journal

Post by Nicolino » Sun Jan 13, 2019 9:17 am

@Tiarella. Thanks for the tip, I went through Nurnberg on my way back from Bamberg and looked like an adecuate sized city with many options, will take a look at Furth and Erlangen. Anyways this is not much more than a pipedream for now since a move like this would sure be no sooner than 5+ years down the road... But evey journey starts with a step I guess.

@Wolf I see you are debating yourself wether to coast to FI or push for accelerating results. I say stay to the later, you are clearly having a lot of momentum with your savings rate and also feels like you get a kick out of achieving this resutls. Also, if you feel your job could be affected in the short term, I think the extra flexibility would come in very handy.

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Jin+Guice
Posts: 246
Joined: Sat Jun 30, 2018 8:15 am

Re: wolf's journal

Post by Jin+Guice » Sun Jan 13, 2019 10:53 pm

@wolf: Serious props as always, I am very impressed by your spending rate, savings rate and modest humble approach. I also hope to travel to Germany someday, perhaps we could hang out.

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