After reading the forums quite a lot over the past two years, I’ve finally decided to take the leap and participate as an active member. This place is such a gold mine of information and thoughtful discussion that I’ve grown to consider it almost a duty to do my part to keep it going and not just consume the content passively.
I’m in my mid-twenties, living with my SO in a mortgaged apartment in a (at least in Sweden terms) larger city, working full-time as a junior lawyer. Three years ago, I had the great luck to find an interest in finance at the same time as I grew really concerned about the severity of climate change and related crises. Unsurprisingly in hindsight, this combination proved the perfect gateway drug to ERE.
A journal is part of my future forum plans, but since I’m not sure when I’ll get to it, here is a summary of my current ERE situation. Finances (and most of lifestyle in general, to be frank) are completely shared with SO, so all numbers are for two people. Savings rate, not including principal payments, of about 40%, with practically all income being our salaries of net 50 000 kr (divide by 10 for a very rough USD/EUR amount). Net worth somewhere around 600 000 kr, half cash/index funds, half equity in the apartment. Including student loans, NW is right about 0, although the terms of Swedish government loans are so good that we (maybe naively) see them as more of a fixed monthly cost rather than debt. On the non-financial side, we’re currently employing something of a back-to-basics strategy, largely focusing on physical health, refining household skills such as cooking (SO is a great cook, I’ve got a lot of work to do there) and simple home maintenance/renovation, and maintaining and developing existing relationships with friends and family. I would put my WL at 4, with 5 within close reach the moment we resolve the cognitive dissonance around our outrageous restaurant habit by severely restricting that very habit.
That’s it for now. I’d love to connect with each and every one of you, so you’re all very welcome to PM or post here!
Hello from Sweden!
Re: Hello from Sweden!
Welcome to the forum, ill be visiting again your beautiful country in a couple weeks.
You’re so lucky to live where you do, mid term I plan / hope to be able to find a way to live there (targeting Stockholm)
You’re so lucky to live where you do, mid term I plan / hope to be able to find a way to live there (targeting Stockholm)
Re: Hello from Sweden!
Seppia,
Thank you! Hope you'll enjoy your time here. And yeah, I try to be grateful for all the good things the country has to offer. As I'm not much of a traveller I don't have too much to compare with, which probably makes it easier and more difficult simultaneously... Anyway, if you ever need a couch to crash on in southern Sweden, or just wanna chat up the locals, let me know!
Thank you! Hope you'll enjoy your time here. And yeah, I try to be grateful for all the good things the country has to offer. As I'm not much of a traveller I don't have too much to compare with, which probably makes it easier and more difficult simultaneously... Anyway, if you ever need a couch to crash on in southern Sweden, or just wanna chat up the locals, let me know!
Re: Hello from Sweden!
Welcome! There are a few other Swedes on the forum I think. Personal finance has it particulars here - ISK/kapitalförsäkring makes the tax man completely agnostic towards how often you buy and sell, low mortgage rates (but with very short terms...), very favourable student loan terms from the government (not only interest set at government borrowing costs but also a lot of built in protections, for unemployment and old age for example). As well as an extensive safety net. There are also challenges of course - high housing prices, relatively low salaries for professionals, higher income taxes relative to most, sheltering income in retirement accounts not as favourable as in the US for example. I would not pay down CSN student loans, especially as you have a mortgage that's bound to have higher interest and worse terms.
In my experience, improving cooking is a great way to reduce the desire for restaurant spending! I'm a decent home cook by now and not much more than that, but even such a modest skill level is enough to leave me underwhelmed with a lot of mid range places. And serving people good home cooked food is a great way to build social capital.
In my experience, improving cooking is a great way to reduce the desire for restaurant spending! I'm a decent home cook by now and not much more than that, but even such a modest skill level is enough to leave me underwhelmed with a lot of mid range places. And serving people good home cooked food is a great way to build social capital.
Re: Hello from Sweden!
oldbeyond,
Thanks for the welcome! Yeah, I've noticed one or two confirmed and a few suspected Swedes here. I largely agree with your analysis. My most recent reasoning on the subject is that Sweden is probably better suited to some sort of semiERE than traditional FIRE. There might be some issues with rigid employment/business regulation and its second-order effects on the labour market and broader economy. But on balance, in Sweden and similar economies with relatively low disposable income and relatively high public social spending, I think there's a pretty convincing argument to get off the full-time paycheck as soon as possible. Maybe related: trends in the financial independence community when Americans took over from a Dane.
Thanks for the welcome! Yeah, I've noticed one or two confirmed and a few suspected Swedes here. I largely agree with your analysis. My most recent reasoning on the subject is that Sweden is probably better suited to some sort of semiERE than traditional FIRE. There might be some issues with rigid employment/business regulation and its second-order effects on the labour market and broader economy. But on balance, in Sweden and similar economies with relatively low disposable income and relatively high public social spending, I think there's a pretty convincing argument to get off the full-time paycheck as soon as possible. Maybe related: trends in the financial independence community when Americans took over from a Dane.