Early Retirement Extreme Forums

10 months to ERE

Due to some events, higher than usual savings and better than average investments returns, I'm luck enough to be currently at 37 years of expenses. Realistically, I also have to consider things like house, marriage, round the world trip and some other smaller one off bits and pieces, but according to my rough calculations it still will be good for 25-30 years or ~3.5% withdrawal rate.

So, it looks like I'm FIREd at age 29, right? I'm really considering leaving workforce this summer. What do you think?

Is your job holding you back from doing other things you'd rather be doing? If so, then yes absolutely quit! Life is too short to sit in a cubicle doing things you'd rather not be doing. If historical example is any guide, you'll likely earn more money again and at your age your assets will keep growing even if you didn't.

And congrats!

cmonkey wrote: ↑

Wed May 31, 2017 7:42 am

Is your job holding you back from doing other things you'd rather be doing?

Obviously I'd be happy to leave my workplace and do my own stuff from tomorrow morning, but it's not holding me back too much just now. I have another 50 years to enjoy myself, so few weeks more or less makes no difference. I work in small family run business and owners helped me a lot in the past, so it wouldn't be appropriate to leave now, just before summer when many key people will be off on holiday. Also, I don't want to burn bridges - you know, just in case. It's also the nicest time of the year to work for me, as I spend most of the day outside the office, getting around city and suburbs. Few extra thousands will help me to visit few more countries or get bit fancier house/car/whatever in the future. Originaly I planed to stay till the end of the year, but I think august/september will be good as well, giving me enough time to sort few things in my life (and head) before pulling the trigger.

cmonkey wrote: ↑

Wed May 31, 2017 7:42 am

you'll likely earn more money again and at your age your assets will keep growing even if you didn't.

I hope future won't be worse than past. And even if it will be worse, I want to do my own stuff just now, when world in general is rather friendly and stable at the moment. I want to spend best days of my life doing stuff I enjoy. Going back to work is an option for me, when shit hits the fan and I'm ok with it. It's not the end of the world, millions of people works whole their lifes. There are worst things than this.
I spend a signifant amount of time playing mostly with portfoliocharts to find out how assets allocation and diversification really works. One of the most valuable lessons was realising that first year or two are crucial - when returns are positive for initial period, there is massive chance that portfolio will perform more than fine and not fail in long term. So the final outcome looks like this: some high yielding REITs, hard assets, little bonds from around the world, broad indexes of fair value - so in general most of the world ex US, some cash on top of it, to get US or other equities when/if they get better valuations. Basicly, I'm getting international, equity weighted Permanent Portfolio, with extra assets, traded on at least three different markets around the globe. And let's face it, even if it fails it's so easy to get some extra income doing odd jobs. I can start another lifestyle/FIRE blog. Or write a book: "How to live like a king and be happy on average income". Sounds good, isn't it ? Maybe cut the neighbours grass doing mine at the same time? Or taking care or their dogs, when away on holiday? Baking cakes for others? Selling excess of my own free-range organic eggs? Doing stuff like this doesn't fell like a job, but it cuts required withdrawal rate A LOT when costs of living are at ERE level.

Congratulations! You are FI if I read correctly. Are you also RE? I really liked to read your journal. It was fastforward from 2015 to FI in 2017. Wish you all the best with FI money, health and partnership. Is she also FIRE'ED?

MDFIRE2024 wrote: ↑

Fri Jul 21, 2017 12:54 pm

It was fastforward from 2015 to FI in 2017. Wish you all the best with FI money, health and partnership. Is she also FIRE'ED?

It was fast forward, as I already had plenty of savings and no debt. Then I found ER movement. So I had to focus not mainly on money aspect, but more on designing my lifestyle or investing. Being natural born saver and minimalist helped me a lot to get where I am now in no time. My partner is not FIREd, but our combined savings (10% hers, and 90% from myself) will be sufficient to cover our expenses, even with kids (1-2). She really wants to contribute a bit more cash to our retirement fund and enjoys her current job, so she will stay there for another 3-4 months.

MDFIRE2024 wrote: ↑

Fri Jul 21, 2017 12:54 pm

Are you also RE?

I'm not. But today I had a conversation with my boss. And guess what? From 1st of September I'm officially unemployed.

stayhigh wrote: ↑

Sat Jul 23, 2016 11:45 am

I decided to show you my typical monthly spending in rather expensive part of UK, so you can all compare. All numbers are in British pounds and per person, so double them for couple:

rent 250
council tax + water 46
gas/electricity 30
food 80
household 10?
mobile/internet 15
other 50
Total - just under 500

And on top of this, extra 1000 or so per year to cover holidays. When I finally decide where I want to stay for good, I will buy a house to get rid of rent, so cutting my total expenses by half without any problem.

Great job on keeping your overhead so low.

How do you manage to spend just 250/mo on rent? 1,000 a year is pretty low on travel for someone who loves travel and travels a lot...do you always take the train and stay in hostels? What are your tricks to keep food at 80/mo? You must never eat in restaurants or take the train/bus as I see no transportation cost. What do you do for fun/recreation other than travel? I see no budget for that.

1. Rent is 250 each, so 500 total. One bed flat in cheap area. This expense will be zero, as I will get my own place.

2. Trains are expensive. Traveling is mostly done by cheap airlines (Portugal for £10 round trip anyone?) or error fares. You can get almost everywhere in Asia/Americas for £150-300 round trip. This is a good place to start: https://www.holidaypirates.com/flights. Also megabus £1-3 fares are nice for local travel. When I get to destination, I eat/sleep/move around like locals and stay away from popular tourist traps. Few actual examples:

Portugal low season:
- return flight £10
- 3nights a hotel £80 total, but I had £50 off voucher, so £30
- few local buses to see places £20ish

Iceland, week before high season to get as good weather as possible:
- return flight £60
- car rent ~£100 for 4 days (£50 per person)
- petrol ~£100 (£50 per person)
- 3 nights in car/tent £0. Free bath in hot springs. Free toilets everywhere.
- food brought from home, as local prices are unacceptable

Sri Lanka
- flights for £280 return
- family run hotels for £5-10 per night for two of us
- local buses £15 per person for whole stay
- can't remember food, but it was waaay cheaper that back in the UK.
- visa £20 each

So this adds up to 4 weeks of exotic holidays for less than £1000 per person. Easy, when you plan ahead and are keen for adventure.

3. Food is even easier. Rice and other staples in 5-20kg bags, add some basic veggies, fruits, lean meat/fish and yellow sticker discounted stuff. Best deals are around 7pm at Tesco/Asda. Last month I get week worth of stuff for £2, I barely managed to take it back home by my own!

4. No transport cost, as I walk and use my bike. My workplace, three supermarkets, library are within 35min walk radius. I borrow van from work for big/heavy stuff, maybe twice a year.

5. My fun/recreation is cooking, bicycle trips, hiking, working out, jogging, free books, internet (blogs, music, movies, stupid games, chatting with friends etc) and my guinea pigs fed by leftovers and plants from local park.

From the way you express yourself, it appears to be just a second nature to you, but from where I sit, you are the Michael Jordan of cheap bastards.

stayhigh wrote: ↑

Wed Jul 26, 2017 8:10 am

1. Rent is 250 each, so 500 total. One bed flat in cheap area. This expense will be zero, as I will get my own place.

2. Trains are expensive. Traveling is mostly done by cheap airlines (Portugal for £10 round trip anyone?) or error fares. You can get almost everywhere in Asia/Americas for £150-300 round trip. This is a good place to start: https://www.holidaypirates.com/flights. Also megabus £1-3 fares are nice for local travel. When I get to destination, I eat/sleep/move around like locals and stay away from popular tourist traps. Few actual examples:

Portugal low season:
- return flight £10
- 3nights a hotel £80 total, but I had £50 off voucher, so £30
- few local buses to see places £20ish

Iceland, week before high season to get as good weather as possible:
- return flight £60
- car rent ~£100 for 4 days (£50 per person)
- petrol ~£100 (£50 per person)
- 3 nights in car/tent £0. Free bath in hot springs. Free toilets everywhere.
- food brought from home, as local prices are unacceptable

Sri Lanka
- flights for £280 return
- family run hotels for £5-10 per night for two of us
- local buses £15 per person for whole stay
- can't remember food, but it was waaay cheaper that back in the UK.
- visa £20 each

So this adds up to 4 weeks of exotic holidays for less than £1000 per person. Easy, when you plan ahead and are keen for adventure.

3. Food is even easier. Rice and other staples in 5-20kg bags, add some basic veggies, fruits, lean meat/fish and yellow sticker discounted stuff. Best deals are around 7pm at Tesco/Asda. Last month I get week worth of stuff for £2, I barely managed to take it back home by my own!

4. No transport cost, as I walk and use my bike. My workplace, three supermarkets, library are within 35min walk radius. I borrow van from work for big/heavy stuff, maybe twice a year.

5. My fun/recreation is cooking, bicycle trips, hiking, working out, jogging, free books, internet (blogs, music, movies, stupid games, chatting with friends etc) and my guinea pigs fed by leftovers and plants from local park.

Thanks for the info. You get some incredibly cheap airfare. I suck at travel hacking and getting cheap flights, I need to get better at that. Stay in hostels while you can in your 20's. Hostels aren't as fun in your 40's.

Jason wrote: ↑

Wed Jul 26, 2017 9:35 am

From the way you express yourself, it appears to be just a second nature to you, but from where I sit, you are the Michael Jordan of cheap bastards.

I don't feel like Michael Jordan (or other MJ), as I just started in different place than you. You know, Wheaton scale and "your ceiling is my floor" kind of stuff. There is a huge room for improvements for me. Homesteading is one of possibilities.

Allagash wrote: ↑

Wed Jul 26, 2017 11:42 pm

Stay in hostels while you can in your 20's. Hostels aren't as fun in your 40's.

Thanks, I'm working on it.

5 weeks till FIRE. Or should I call it FIERE? I'm a little bit nervous/excited now.

"Your ceiling is my floor" is the sanitized version of something a dunking Michael Jordan would say at the moment his nutsack rested on someone's head, so now I'm thinking you might be more like him than either one of us thought.

Well I don't consider myself special or anything. Maybe I just asked better questions? Let's hope I will be dunking like mad throughout my life.

Stayhigh, you cheap bastard, tell me how do you manage to keep your grocery cost so low without eating instant noodles and other crap all the time?


1.5lbs of fresh vegetables for .3$, and some fresh crispy fruits, not too bad for day worth of food, isn't it? Just add pasta/rice/beans/meat/spicies/whatever, or just have it plain. That's just over a dollar per day.


Yesterdays shopping, this is roughly week worth of healthly food for 15$. Kale, spinach, cabbage, carrots, eggs, apples, peaches... and popcorn! I have tons of staples like rice, pasta or frozen meat at home.


Cooking and prep time? Less than 10min! Enjoy!

Just came back from work for the very last time.... I'm FIREd!

Woohoo, congrats!

Great job. Congrats.

You should treat yourself and get a box of buttered popcorn.

Congratulation!

Yippee! Another one joins the elite!

Wow. Congratulations.

Just binge read your journal.

I'd probably spend more than you do now even if I homesteaded.

I'd like to hear more about how you're able to find cheap places that are walk-friendly. When I find cheap places with those prices, they tend to be out in the middle of nowhere instead of centralized.