wolf's journal

Where are you and where are you going?
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Seppia
Posts: 511
Joined: Tue Aug 30, 2016 9:34 am
Location: Italy

Re: wolf's journal

Post by Seppia » Tue Apr 03, 2018 7:27 am

Great stuff.
I'm wondering, why did you decide to get into prepping?
Do you sense an impending risk or is it just a sort of "training" to expand your knowledge?
Which resources are you using to learn about the subject?
Thanks

wolf
Posts: 558
Joined: Fri Jan 06, 2017 5:09 pm
Location: Germany

Re: wolf's journal

Post by wolf » Tue Apr 03, 2018 1:29 pm

Hmm...Let's think...How did I get into prepping? Very good question. Last year I heard about prepping. Then I forget about it again. And this year I think I read some articles about it and watched some videos. I am also interested in trekking, outdoors, survivalism, etc. I don't sense a specific risk. I just want to be prepared for some short term risks. On the personality level I am risk averse and strive at the same time for freedom and independence. I guess, the one comes with the other. Therefore I wanted to add some (mental) security to my life by prepping. But it is prepping "realistically". I don't buy any weapons, nuclear things, etc. I buy and store what I consume. It is about getting to know boundaries and getting more aware about those kind of things, like emergencies, grit-down scenarios, first aid, ... It is basically learning layer by layer from the expected to the unexpected scenarios.
What I really find very helpful is the book "The Prepper's Blueprint". Unluckily I found all the content from the book on the original website later (Link here) If you are interested have a look.

wolf
Posts: 558
Joined: Fri Jan 06, 2017 5:09 pm
Location: Germany

April 2018 Financial Summary

Post by wolf » Fri Apr 27, 2018 6:38 am

Savings Rate = 85,2% (12 months rolling average)
Yearly Expenses = 6298€ (12 months rolling average)
Withdrawal Rate = 10,0% (yearly expenses + margin of safety + health insurance cost*)
FI = 46% (accumulated money compared to goal of 350k€)
Invested = 76% (invested FI-money in market, rest of it in cash)
Passive Income = 34% (covering my yearly expenses, see line above)

*I added health insurance cost into WR, because I have to pay it directly in the FI-future. Nowadays it is paid indirectly by my salary. Therefore the change compared to WR in March

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Seppia
Posts: 511
Joined: Tue Aug 30, 2016 9:34 am
Location: Italy

Re: wolf's journal

Post by Seppia » Sat Apr 28, 2018 6:37 pm

Thanks a lot for the link and explanation
Keep kicking ass!

wolf
Posts: 558
Joined: Fri Jan 06, 2017 5:09 pm
Location: Germany

Milestone towards FI / FF

Post by wolf » Sun May 13, 2018 4:46 am

Inspired by all the topics around here, e.g.
- Deliberately Coasting to FI
- Money is a solved problem
and all the lessons learned and experiences I collected from FI-/FF-persons, I came to the conclusion in the recent days to set and define the next milestones on my journey towards FI / FF. All this is based up on my ERE-principles, -mindset, -lifestyle and -techniques.

In the past year I set my FI goal to 350k€. On top of that I thought about my FF goal, which I set to 420k€. Those both goals are calculated with my expenses, estimated budget in RE, a margin of safety, safe withdrawal rate, etc. You know it. :-) It varies and it depends on "1000" things. In the end I came up with those two numbers.

It is a journey, not a destination. Because of that, I wanted a milestone. That milestone could be also the starting point of "Deliberaty Coasting to FI / FF". Well, first of all, I gotta set the milestone and decide then what I'll do when I reach it.

So...milestone is set to 210k€ till end of 2019. That number is 60% of FI and 50% of FF. I could reach that, if I continue to save 85% of my income.

My estimation shows that I would need another four to six years (starting 2020) till I'll reach my goals completely between 2024 and 2026. So, if I'd want it more comfortably, I could decide to go with a lower SR (around 70-75%), starting in 2020.

wolf
Posts: 558
Joined: Fri Jan 06, 2017 5:09 pm
Location: Germany

May 2018 Financial Summary

Post by wolf » Wed May 30, 2018 7:05 am

Savings Rate = 85,0% (12 months rolling average)
Yearly Expenses = 6145€ (12 months rolling average) *
Withdrawal Rate = 9,5% (yearly expenses + margin of safety + health insurance)
Milestone = 79% (accumulated money compared to milestone of 210k€ by end of 2019) **
Invested = 65% (invested money in equity/bond/commodity market, rest of it in cash)
Passive Income = 34% (covering my yearly expenses, see line above)

* it is without health insurance
** I changed controlling from FI% to my next milestone%, which is 210k€ I'd like to achieve by end of 2019. Then I'd like to reevaluate possibilities to "coast deliberately to FI/FF"

fingeek
Posts: 45
Joined: Wed May 24, 2017 8:16 am
Location: South Wales

Re: wolf's journal

Post by fingeek » Wed May 30, 2018 7:19 am

This is really great - I love how you are consistent with your yearly low expenses! It puts me to shame, and gives me ideas - Keep up the good work!

I'm glad you changed from your *2024 username to, as it's no longer limiting you :).

wolf
Posts: 558
Joined: Fri Jan 06, 2017 5:09 pm
Location: Germany

Re: wolf's journal

Post by wolf » Wed May 30, 2018 1:10 pm

Thank you fingeek! Each journey is individual and has its own challenges. So I hope you don't feel really ashamed, because it is not comparable. On the other side you are one of my role models around here. If I had learned one thing since I found out about FI/ERE, it is, that you could learn from others but you shouldn't compare with them (in a negative way). We gotta motivate us and share our wisdom, experiences and lessons learned. For me that are the huge benefits of this forum!

That's true. My former user name indeed limited me in some way, although it was a good start to have a vision in the beginning of the process. Changing the user name was the easiest part, but changing all my controlling and planning charts and lists is ongoing ;-)

...and I'll try to "keep up the good work!" :-)

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