B00GS'S ERE Journal

[b00gs]

Hi, Everyone! I'm excited to start this journal. I've been looking through the forum and it's really amazing to read people's journeys, thoughts, and experiences. I want to take part in the community. This is my first post so I'll just kick it off with a summary of myself and of my finances:

Summary

• Age: 26
• Location: Los Angeles County
• Occupation: Environmental, Health and Safety Specialist
• Compensation:
  • Base Salary: $133,900/year
  • Year-End Bonus: 15%
  • Roth 401(k) Match: 4%, 1:1
  • Profit Sharing: 3%, vested 100% after 3 years
• Assets:
  • Emergency Fund: $2,029
  • Roth 401(k): $26,500
  • Roth IRA: $30,600
  • Individual-Taxable: $84,800
  • Ethereum: $10,700
  • Car: est. $42,000
• Liabilities:
  • Car Loan: $18,274.75 @1.75% APR, 33 months left
• Savings Rate (After-Tax): 67%
  • Max 401(k) Contribution: $22,500
  • Max Roth IRA Contribution: $6,500
  • $1,200/2-weeks into Individual-Taxable
• Budget (every 4-weeks):
  • Taxes: $3,279.10
  • Work-Provided Health Insurances: $117.36
  • Rent: $0 (living with parents)
  • Tithe: $400
  • Car Payment: $568.62
  • Car Insurance: $130
  • Gas: $180
  • Food/Fun: $850
• Hobbies:
  • Spending time with friends/significant other (SO)
  • Visiting cafes and drinking coffee
  • Visiting breweries and trying all kinds of beer
  • Skateboarding
  • Snowboarding
  • Playing computer games
  • Reading
  • Exercising: walking and lifting weights
• I also get reimbursed for gas mileage on work-related trips and that nets me about $300/month. Taking into account maintenance and wear and tear, I didn't count this as a part of my compensation. The money I get from it usually goes into my Food/Fun category of spending.
• Brief history of my salaries:
  • Year 1: $65,000
  • Year 2: $68,000
  • Year 3: $83,000
  • Year 4: $130,000
  • Few months later: $133,900
• I also plan to give my parents the majority of the 15% year-end bonus to help accelerate/support their retirement. They currently don't have a mortgage. They are nearing retirement age and don't know what they'll need... a topic to discuss later...
• Credit Cards:
  • Discover IT
  • Chase Freedom
  • Chase Freedom Unlimited
  • Citi Custom Cash
  • Capital One Venture

Future Plans
I'm planning to take a trip with a friend. I'm anticipating to spend about $1,000.
I'm planning to take a 3-week vacation to Asia. I'm budgeting about $2,000-$3,000.
Starting in 2024, I will be doing a Roth conversion.

Current Thoughts
Saving up for a down payment on a house in LA county is crazy.

Please feel free to ask me anything!

[AxelHeyst]

Welcome! Awesome comprehensive first post.

Why and how did your salary jump so fast? Do you have a FI/RE target or date in mind? Do you like what you do for work?

[Slevin]

Welcome!

Saving up for a down payment on a house in LA county is crazy.

Yes, I imagine most rational people in the housing market for LA just get enough for the minimum possible, and buy, because in the housing momentum of the past 5 years it would be dumb not to. If the PMI on a 700k house is like 2-300 per month, and the mortgage cost of waiting one year is >200-300 per month ( and the PMI eventually goes away), you should just buy the house with 3% down.

[b00gs]

Welcome! Awesome comprehensive first post.

Why and how did your salary jump so fast? Do you have a FI/RE target or date in mind? Do you like what you do for work?

Hi, AxelHeyst! Thank you

Year 1-2 was at a company I didn't like very much because of my manager. Year 3 was a consulting company and I really liked working with the people there. It made me decide that I like my job whereas in my first job, I hated it. My salary jumped in Year 4 by moving companies. I moved despite the awesome people in my previous job because of the salary increase. I'm assuming the starting salary is so high because my salary won't jump by a lot in this company. I'm estimating 5% each year.

I am targeting FIRE by at most 45 years old. But honestly, I'm not sure how to calculate it right now because I'm not sure what my future will look like. Where will I live? Who will I marry? How many kids will I have? What will my health look like? What about the people around me?

I like my current job. My manager is super friendly but most likely will retire within 5 years. I like the work because there is so much to learn in the EHS field.

[Lemur]

A modular design & contingency goal-setting are two sections from the ERE book that may resonate with someone who has a lot of ideas and goals but needs to figure how to think through a plan.

[2Birds1Stone]

Welcome!

What does a highly compensated Environmental, Health and Safety Specialist do exactly?

Are you funding your parents retirement for specific reasons? Sounds like a big weight on your shoulders.....you should be financially independent using conventional math in <10 years with that savings rate.

Looking forward to following along.

[b00gs]

If the PMI on a 700k house is like 2-300 per month, and the mortgage cost of waiting one year is >200-300 per month ( and the PMI eventually goes away), you should just buy the house with 3% down.

Hi, Slevin! Thank you!

I haven't thought about that. I guess I was just thinking I should wait until interest rates go down more and, while waiting, by that time I'll have a better down payment. The mortgage will 3% down would be insane, no? Also, I thought renting in CA is better than owning if you take into account opportunity costs.

A modular design & contingency goal-setting are two sections from the ERE book that may resonate with someone who has a lot of ideas and goals but needs to figure how to think through a plan.

Hi, Lemur! I really like your monthly posts on your journal. I'll prob take on a similar format.

I went through those sections of the book last night. I'm going to try making an interconnected goal structure.

What does a highly compensated Environmental, Health and Safety Specialist do exactly?

Are you funding your parents retirement for specific reasons? Sounds like a big weight on your shoulders.....you should be financially independent using conventional math in <10 years with that savings rate.

Hi, 2Birds1Stone!

This is a brief summary of what I do:

• Monitor, develop, manage training of, and evaluate EHS programs for two sites, hence the work-related travelling.
• Ensure both sites are in compliance with all EHS programs and applicable regulations, such as: Air Quality Management District, Water Control Board, Dept. of Toxic Substances Control, Unified Protection Agency, NFPA, and OSHA (fall protection, lockout/tagout, PPE, etc).

I think my reasoning is because they have supported me my whole life and I want to support them back. My family is really close and I think I would feel guilty not to. I think they also have an expectation that I'll help them. They lived the past 20-30 years just working and raising the family. I want to be a part of their retirement and help them enjoy it more. I was thinking of giving them $1,000/month.

[b00gs]

September 2023

NW
$184k (+$7k)

Finances/Spending
My saving and spending the past few months have been weird. I'm cutting back on saving and then paying my savings back the following paycheck/month. So past few months, it feels like I'm playing catch-up on getting my savings back on track. I'm into mechanical watches so I purchased a Hamilton Khaki Field for about $500 back in June. I'm also going on a short vacation and I spent about $700 so far on rental car, hotels, and activities. I also went to a bike store to get my bike repaired for $420... I'm pretty sure I got scammed lol. Hopefully my spending goes back to normal October-December. Probably unlikely since it's the holiday season.

I was thinking about picking up a part-time job, but it doesn't seem worth it considering my current salary, spending time with my family and friends and working out.

Health
In May 2023, my face acne got really bad so I tried intermittent fasting and cutting out refined sugars/carbs. This was inspired by Dr. Berg on YouTube. I also tried doing keto. It's been four months since the breakout and my skin got a lot better. I think it's mostly due to the prescription medicine I got from the dermatologist so I'm not really following the keto diet anymore. I'm still doing intermittent fasting and my best to not eat refined sugars/carbs. However, during the weekends, eating isn't so strict. My weekdays are good. I have green tea in the morning (stopped drinking coffee during the work week), electrolytes in the afternoon, have my first meal around 1-2pm, work out at home, and have dinner around 7pm. My fasting window is about 16-18 hours.

I recently started working out again in July 2023. I lost a lot of weight from intermittent fasting and cutting out refined sugars/carbs from May-July. Since July, I gained back about 7 pounds. Mostly muscle. I have a knee problem so I'm going to bike for leg exercise. I also have a left wrist problem. I'm going to the doctors to get these checked out.

In March 2023, I began a personal journal on Sundays before church. I wanted to journal so I can slow down my mind, think about what's been on my mind, and think about how I'm really doing. It's been about a month since I journalled so I'm going to try and get back into that rhythm.

Work/Job
Since I'm not planning on working until I'm 65, I see my job as just a means to an end. It provides a good income, it's not very stressful, and I like the people I work with. I don't plan on moving unless I find a job that pays more.

Thoughts
Since starting this ERE journal, I've been thinking about my goals for the future. It could change, but I was thinking about going along the semi-ERE path where I save enough to be at a 3-3.5% SWR and become an apprentice for the general construction, plumbing, and electrician trades. I think it takes about 4 years to become a journeyman in each of those trades, so the semi-ERE stage would be about 12 years. During those 12 years, I would still earn income so I would be at <3% SWR and let my savings grow a little bit while I'm learning the trades.

My current spending won't reflect my future spending because I currently don't have a rent/mortgage and kids. Is there anyone out there who lives in LA county with a mortgage and kids? What's your monthly spending? I have a lot of thoughts on future spending related to family.

Short-Term Goals
Continue working out. Spend less on food. Journal again.

[shaz]

What did they do to your bike for $420?

[b00gs]

What did they do to your bike for $420?

This is what's included in the service:
Clean All Parts (Solvent Tank)
Adjust Brakes
Adjust Derailleurs
Adjust Headset
Adjust Bottom Bracket
Adjust Hubs
Inspect Nuts & Bolts
True Wheels
Lubrication
Frame Clean & Polish

I also had to get a new tire which was about $40, included in the $420. I also got a package where I get tube protection and if I ever get a flat tire, they will repair and replace the tube for free, unlimited uses. That was $60. The other costs were in the service and labor.

[shaz]

If you pick up some basic bike maintenance skills, you can probably save yourself most of that expense in the future.

Headset, bottom bracket, and hubs will almost never have to be adjusted. If they were installed right they will most likely keep doing what they are supposed to do with no maintenance for as long as you own the bike. For instance, the headset, bottom bracket, and hubs on my road bike have been functioning with 0 maintenance since the 1980s. When I worked in a bike shop we occasionally rebuilt hubs but those typically had more than 100,000 miles on them and were for wheels that were being rebuilt with new spokes and rims.

Adjusting brakes and derailleurs will be simple most of the time, as will inspecting nuts and bolts, lubrication, cleaning the drive train, and cleaning and polishing the frame. I recommend you learn how to do all of those yourself since it is useful to do them more often than once a year.

Cleaning the drive train can get messy unless you use dry lube so I recommend that you use dry lube. Once upon a time the only option for dry lube was to cook your chain in a pot of paraffin wax on the stovetop which was its own kind of mess, but now you can just buy a bottle of dry lube and apply it easy peasy. Maybe the hardcore ERE method would be to use wax candle stubs; if you try that please report back as to how it went.

If you knock a wheel very far out of true you might want to get professional help truing it back up but that shouldn't cost much. It's useful to learn how to check if a wheel is out of true, but that is another thing that is not difficult.

[Scott 2]

The list says:

Clean All Parts (Solvent Tank)

Did they maybe take the bike apart, clean everything, and then rebuild it? That's the only service in my area that explains a $300 charge.

[b00gs]

If you pick up some basic bike maintenance skills, you can probably save yourself most of that expense in the future.

Adjusting brakes and derailleurs will be simple most of the time, as will inspecting nuts and bolts, lubrication, cleaning the drive train, and cleaning and polishing the frame.

Yeah, I was thinking of doing a semi-annual maintenance which would consist of adjusting, inspections and cleaning. I have zero knowledge and experience with this so hopefully over time I'll learn and be efficient with the maintenance.

Did they maybe take the bike apart, clean everything, and then rebuild it? That's the only service in my area that explains a $300 charge.

I believe that's what they do. They said they took off the parts, soaked them in a solvent, and put everything back together. How likely is it to get a flat? After 2 flats, I'll have made my money back on the package I got. When I get a flat, I might ask them if I can watch them so I can learn.

[shaz]

Likelihood of flats depends on a number of variables including the type of terrain/surfaces you ride over and your behavior so it is difficult to predict how often you will get flats. I expect you will figure out pretty quickly if the package is worth it to you.

Flats are not all that difficult to fix so you may as well add that to your list of skills to acquire. There are YouTube videos you can watch to learn how to do it. That might be easier than watching shop staff fly through it quickly. Also sometimes shops have tools and equipment that you won't have and don't need; it just helps them work more quickly.

The most common flats are punctures (from riding over something sharp) and pinches (from an underinflated tube getting pinched by the rim when you hit a bump). Keeping your tires adequately inflated will greatly reduce the incidence of flats. I recommend you check your tire pressure at least every 2 weeks and top up as needed. Replacing your tires if they get worn very thin or if they start to crack due to old age will reduce the incidence of flats. Avoiding riding over sharp things such as broken glass or goathead thorns will help.

I like to use anti-puncture tire liners because I ride in places with lots of the accursed goatheads. There are a number of brands of tire liners available. You can also get puncture-resistant tires and tubes but I prefer the liners because I just move them from one set of tires to the next and don't have to shell out extra money every time I replace a tire or tube. So far my liners have held up for 30 years.

[b00gs]

My neighbor has a tire pump so I'll ask to borrow his when I need to pump my tire. I wasn't sure of the term before you said it, but the package includes the tire liner! I already have an extra pair of tires and the package includes free tubes and labor in the case of a flat. I'll use the package for future flats but I'll still learn how to do it in case I can't go to the store for some reason.

[macg]

This seems interesting, looks like they will release more details and pricing next week..

https://www.kickstarter.com/projects/sm ... technology

[Scott 2]

If they rebuilt the bike, pricing doesn't seem unreasonable. Whether you needed the service is questionable. Certainly you shouldn't need it again in the next couple years.

I paid $100/bike for tune ups this year. I found a local mechanic who works out of his garage. I don't like doing the work, and I had some shifting problems I couldn't figure out. I was happy with the value provided. The shop may have a lesser tier of annual service worth paying for.

The airless tire concept has been around for decades. It never seems to take hold. I'd be surprised if the Kickstarter cracks it.

Over the last year, I've ridden somewhere in the 1-2k miles range. Nothing on the scale of Shaz's experience, but maybe closer to the fitness riding you'll be doing. Mostly gravel and pavement.

I haven't had any flats. I check my tires at least once a week, keeping them properly inflated. I also run a tire with puncture protection built in. My hybrid has 700x38 Schwalbe Marathon all season tires. Maybe not the fastest, but they've been fine.

IMO - keeping your own floor pump on hand is a necessary expense. Given that a flat can strand you, carrying a repair kit feels worthwhile to me.

I don't want to work on my bike, but I've also taken on cleaning and lubing it myself. It's unfortunately necessary every month or two, especially given the gravel I'm riding on. I splurged on some bike specific tools and cleaners. They make the job more tolerable.

I've read a belt drive bike can alleviate some of that maintenance burden. I'd certainly like to try one. But the added cost pays for a lot of degreaser and dry lube. So I've not pulled the trigger.

[b00gs]

Over the last year, I've ridden somewhere in the 1-2k miles range. Nothing on the scale of Shaz's experience, but maybe closer to the fitness riding you'll be doing. Mostly gravel and pavement.

I haven't had any flats. I check my tires at least once a week, keeping them properly inflated. I also run a tire with puncture protection built in. My hybrid has 700x38 Schwalbe Marathon all season tires. Maybe not the fastest, but they've been fine.

IMO - keeping your own floor pump on hand is a necessary expense. Given that a flat can strand you, carrying a repair kit feels worthwhile to me.

I plan to ride the bike about 2 times a week and, currently, I'm only riding on pavement. I'm not sure the distances I can go yet but I plan to go up this hill in my neighborhood. I'm not planning to go long distance yet. My goal is to grow my leg muscles so I want to put a lot of tension. I roughly calculated the grade on google earth and it's about 4-4.5% grade. 24 feet of rise, about 550 feet of run. I give myself about 700 feet of pedaling before I reach the bottom of the slope. I set my gear to the highest gear out of 27 gears. (largest cog on front, smallest cog on rear). It's absolutely HARD going up that hill. I was able to go up with the 3rd smallest cog on the rear so I'll progressively overload until I can easily make it to the top with the highest gear.

I went to the doctor this week and he took some blood tests to look for arthritis. I have a follow-up in a few weeks so hopefully it's not that. Once I feel like I strengthened my tendons and inflammation decreased, I'll try both biking and bodybuilding exercises for legs.

I'll update on finding a tire pump.

[b00gs]

Fitness Entry
My current workout split:
Day 1 - Chest
Day 2 - Back
Day 3 - Shoulders and Arms (sharms)
Day 4 - Legs

Inventory of Exercises
Chest

• Push-ups
• Flat Bench-Press
• Incline Dumbbell Press - only at hotel
• Flys - Dumbbell and Cable - only at hotel

Back

• Pull-ups
• Barbell Rows
• Seated Row w/ V-Grip Handle
• Single-Arm Pullover

Sharms

• Face pulls - low to high/high to low
• Cable lateral raise
• Barbell OHP
• Tricep pushdown
• Tricep rope pushdown
• Barbell Curl
• Incline barbell curl

Legs

• Biking
• RDLs
• Squats
• Bulgarian Split Squats

Supplements
Protein Powder (41g/day)
Creatine (7g/day)

[fiby41]

Why do you take both protein powder and creatin? How did you calculate your numbers of grams, was it a result of factoring in your body weight and intensity of workout?