Frugal chicos journal - ERE in The Basque Country

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Western Red Cedar
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Re: Frugal chicos journal - ERE in The Basque Country

Post by Western Red Cedar »

Have you read through your entire journal lately? One of the benefits of journaling here is to go back and review your old perspectives and observe the growth.

I'd encourage you to keep writing here, even if you decide you want to do it less regularly. I've noticed that things which seem mundane to a poster are often quite valuable for other readers. I'm looking forward to hearing about your final time in Chicago and the transition back to Spain. The period after reaching FI is most intriguing to me.

Frugalchicos
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Re: Frugal chicos journal - ERE in The Basque Country

Post by Frugalchicos »

Thank you all for your comments!! I really appreciate and I am glad some of you find value from this journal.

I agree my focus has shifted from money accumulation and optimization to life enjoyment and pursue of more wholesome and rewarding hobbies/activities. As some of you have said, I feel the money game is "almost over" or automated and my mind automatically has switched to the pursue of happiness. Perhaps having enough money and a house paid off also gave me peace of mind and made me feel more relaxed not always thinking on every penny I spend.

This happiness can come from different sources. Family of course is at the top. However, I am also feeling I need to "recover" some time before I am too old to enjoy things I wanted to do for a while and couldn't find time or willingness for them. The idea of surfing all day in the future keeps me motivated to work out and stay fit in the present. The excitement of playing guitar and becoming an intermediate help me to practice some wholesome and distressful hobby every day. Reading some good books and perhaps meditating go next (didn't start meditating yet but I intend to do it).

All I am trying to say is that the way I was seeing this journal in the future is me recording the transition once we move to The Basque Country. The whereabouts of life, no working, withdrawal strategy, picking up new hobbies, perhaps working temporarily and making you jealous with all the cool pictures of the beaches and mountains. One thing I am considering in doing next year is buying a VW Westfalia T3 van or a Mercedes Marco Polo to drive around Europe to surf and hike. That would probably be interesting and appealing to some of you. I am thinking in buying it when I travel to visit next year. I already have a place to park it and would love to have it readily available once I move back.

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mountainFrugal
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Re: Frugal chicos journal - ERE in The Basque Country

Post by mountainFrugal »

Before your post I was going to add that I was interested in more detail on the surfing adventures. These other van layers on top of it are even better. If the money part is solved, then adventure carrots are a good one to look forward to IMO. :).

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Re: Frugal chicos journal - ERE in The Basque Country

Post by Frugalchicos »

@mountainFrugal

Yes! these next 2 years we have left in Chicago are basically ice on the cake to really feel safe to pull the trigger. I think that one thing is what the numbers say and another one how you feel. We also want to accumulate enough to be able to have the purchase power to buy another condo to rent until mini chica is ready to live on her own. That rental property would also serve as a buffer for local currency and will avoid us to withdraw money from our investment accounts.

Lets see how everything pans out. But I am very optimistic of our plan. This year is already planned out like the below:

- Feb = going on vacation to the Basque Country
- April = we are going to Cancun for 5 days
- June = might go back to Cancun without mini Chica to visit Maya ruins and a cenote
-July = my mom comes for the entire month. I will also run a half for my birthday
- August = will probably go camping somewhere in the midwest
- September = might go visit the Basque again

And 2024 is our last year in the States... so problably getting ready for the move, etc...

Nicolino
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Re: Frugal chicos journal - ERE in The Basque Country

Post by Nicolino »

2 things:
1) We are a binational couple as well, so curious about how the whole moving to a new country thing plays out (we have the added complexity our kid was even born on a third country)
2) It will be fun to see how you cope with the OMY syndrome of making US money in the coming months

Frugalchicos
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Re: Frugal chicos journal - ERE in The Basque Country

Post by Frugalchicos »

Perhaps this is me writing after not having a proper break since last August and not really having a full day for myself in 3.5 years...But, I am ready to start designing my next goal: happiness and health. What is coming below is me thinking out loud.

Don't take my wrong, I don't consider my self unhappy and I am aware that everyone has good and bad days and not every day is perfect. However, I would like to have more present the idea that we need to enjoy every day in the fullest possible way. I also think this feeling comes from probably being going through a mild mid life crisis where more existential questions have come to mind.

I recognize I like a clean, organize and calm surrounding. This is hard to get when you have a 3.5 year old that is always doing....well, what she is suppose to do at that age, messing things up, making noise and asking 1000 questions over and over. I can't blame others or anything for not being happy. I need to be more stoic and have better tools to cope with all the external influencers in my life (work, family, my current city, happenings in the world, etc.)

Anyways, I don't really know where to start from with this happiness/healthy project, but I will start from being more grateful and make better decisions on a daily basis. One of my main goals for this year is achieving the best physical shape I have ever had. So far, I am hitting the gym and eating a little better. But I don't think I am making enough effort. I am going to need to be better at cooking and eating healthier and more nutritious foods.


Improvement Goals (I believe both health and happiness feed each other):

- Eat more veggies (this is a classic on my to do list)
- Eat more balanced and nutritious meals. Ex: bowl with wild rice, veggies, hummus and a poached egg
- Train harder, better and with a more planned program
- Try to go for more long walks
- Limit alcohol intake
- Limit internet/phone usage
- Read wholesome books
- Read/watch positive books and documentaries (recommendations are welcome)
- Learn about stoicism (recommendations are also welcome)
- Set more boundaries at work. Don't think about it after my shift
- Be more chilles. Not looking for perfection

Things I currently enjoy:
- Family
- Playing guitar
- Running
- Lifting weights
- Listening to music
- Cooking a good meal
- A good wheat Munich/Belgium style beer (Leffe, Franziskaner and Paulaner are among my favs)
- Surfing (although I can't practice it)
- Nature

Definitely more to come on this since this can be a lifetime project.

Western Red Cedar
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Re: Frugal chicos journal - ERE in The Basque Country

Post by Western Red Cedar »

Frugalchicos wrote:
Sun Feb 05, 2023 4:26 pm
- Read wholesome books
- Read/watch positive books and documentaries (recommendations are welcome)
- Learn about stoicism (recommendations are also welcome)
Hey Frugalchicos - I focused some of my leisure reading on happiness research a couple years ago, and also focused on health for an ERE mastermind deep dive last year. Here is a recap of that project - viewtopic.php?p=254225#p254225

I know you are always looking for reading recommendations, and I also know you are busy with work and family. The following are fairly easy reads or page-turners that fit within the goals for your post:

Gretchen Rubin - The Happiness Project

This was one of her first books and is good to read at the beginning of the year. She writes about a different experiment every month to explore what makes her happy. She's balancing family life in a small apartment in NYC, so you might be able to relate. This led her to explore the role of habits in happiness in later works. The only other book I've read was Better than Before, which is specifically about habits and a pretty interesting read (not as good as Atomic Habits IMO). She has her own podcast and has plugged her books on a bunch of other podcasts. She talked about some of this stuff on Afford Anything a while back if you want to hear an interview before committing to the book: https://affordanything.com/40-power-hab ... hen-rubin/

Eric Weiner - The Geography of Bliss

This book looks at how culture affects happiness. It is a hybrid of travel literature and contemporary philosophy. Pretty easy to read and might be interesting for you as a Spaniard living in the US.

The Happiness Advantage - Shawn Achor

This looks at happiness in the context of work. It challenges the idea that once you achieve success you'll be happy - and proposes the opposite. His Ted Talk covers most of the points if you don't feel like reading the book: https://www.ted.com/talks/shawn_achor_t ... anguage=en

In terms of Stoicism, I'm a fan of Ryan Holiday for introducing the ideas in an easy to read format. He basically uses historical examples to demonstrate how people have used stoicism in their personal lives. The core three books are Ego is the Enemy, The Obstacle is the Way, and Stillness is the key. They are all short and easy reads. He's written a bunch more books and also has a podcast and YouTube channel focused on stoicism. You also can't go wrong with the original - Marcus Aurelius' Meditations.

In terms of health, Katy Bowman's Move Your DNA is probably worth checking out. I haven't read it yet, but have read a few of her other books. Other forum members have recommended it. She applies a systems theory perspective on health and movement. Rather than thinking of health as a series of isolated actions (running, lifting weights, eating salads, etc.) she tries to build a life that encourages movement.

Rich Roll is one of my favorite podcasters with a health focus. He's generally very thoughtful and positive. Here is one of his podcasts with Arthur Brooks, who has written for The Atlantic about Happiness for the last few years: https://www.youtube.com/watch?v=XE0giQ4znNw

Andrew Huberman has generated a huge following as well, and for good reason. Worth checking out if you want to go deep on a particular health-related topic.

This should get you started :D

Frugalchicos
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Re: Frugal chicos journal - ERE in The Basque Country

Post by Frugalchicos »

@Western Red Cedar

This is awesome! thank you so much for the recommendations. It is funny, I just saw your comment but in the last days I started watching/reading Ryan Holiday and deep dived more into Rich Roll's and Andrew Huberman's podcast and youtube videos.

I also downloaded The Happiness Project and will start reading it next week while I am in The Basque Country.

These last few days I've been trying to work on a routine where I avoid reading news, watch aggressive, over-sexual or disturbing videos or news, even sports news are messed up (mostly when reading the comments people post...there is so much hate out there). I try to think in all the things I am grateful for when I wake up. I've also been more mindful of what I eat and drink and worked out like 5 days a week. Running is definitely a mood booster for me. It makes me feel alive, more flexible and fit than lifting weights. However, I also like feeling strong after a good heavy lifting session.

This week was stressful AF. I did a workload analysis and identified I receive an average of 970 emails a week and have an average of 25 meetings a week. However, the week ended with good news. I got an 8% raise (total of 14% in the last 2 years) and will also get 100% of my bonus from last year (golden cuffs right?).

I would like to work on being more chilled and less impatient. I think my 2 weeks in The Basque Country will help setting me up for it.

On another note, I went out my friends on Friday and had an unexpected evening. My friends know of my plans of moving back in 2 years and probably stop working. However, a friend of a friend came over and was super interested in my story, the Fire and early retirement movement. He asked countless of questions and it seemed like they were all genuinely interested. But...they were all giving excuses as of why they can't do it, kids, wives, house, car, needs you only live once....It is an interesting topic to talk about when in social groups but also can turn into something very sensitive. People might feel you are comparing and questioning their lives and decisions. I learnt over the years that the least details you share and the more neutral you come across, the better. Nevertheless, I hope I sparked real interest and they feel inspired by our story and optimize their financials and happiness.

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Re: Frugal chicos journal - ERE in The Basque Country

Post by guitarplayer »

Hey @Frugalchicos, enjoy the Basque Country and keep on posting please! Once the money problem is solved, that is the interesting bit.

By the way, turns out that the company DW now works for has a big office in Bilbao so might be we will be making a move there at some point (a couple / few years from now) :) I would very much welcome it. Beautifully located, definitely a weather change for the better after Scotland, multilingual place, many other things. I have come across a few Basques so far and hold good memories of them. Could pick up surfing while there! Who knows what is going to happen a few years down the line, but now it is conceivable.

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Re: Frugal chicos journal - ERE in The Basque Country

Post by Frugalchicos »

@guitarplayer

That’s amazing! You would love Bilbao, its landscape and outdoor activities :) - keep me posted on that!

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Re: Frugal chicos journal - ERE in The Basque Country

Post by Frugalchicos »

Came back from The Basque Country 2 weeks ago. It was a great trip, mostly because I went with a clear and concise agenda of things I wanted to do and most importantly, things I didn't want to do. I lot of times when I go to my hometown for vacation, I find myself running errands for me and others or spending time with people that I don't really feel like. This plan came out great, sticked to the agenda of chilling, sleeping a lot, beach day, hiking and going on long walks by myself, etc. I came back to the US pretty relaxed and with a chill aura that unfortunately only lasted for like 10 days. Anyways, I know I mentioned this before but I do want to start taking things less seriously and enjoy life a bit more without worrying about the different issues that might happen at that moment in the world (paying too much attention to the news can bring insecurity, mild depression and anxiety.

Speaking about doing less and enjoying more...an opportunity to be a Manager of Managers came up last week at work. I talked to my Director about it on Friday, thought about it over the weekend and I applied this morning. Although, I am very ready to stop working now, I like the idea of playing career while I am in the US for the next 2 years. Keep progressing makes me feel more accomplished, brings more money and also keep options open for anything that can happen. Lets see what happens, there are 2 positions open and they are looking for a person from outside and another from within the company. I don't really think I have many chances at the momebt, but I do believe that applying makes a statement that I am interested in moving forward and would probably give me more chances for the next opportunity (I call it career strategy lol)

Vacation plans for 2023: We are taking 5 days in April to go to Cancun and chill. Also, my mom is extending her visit in the summer to 7 weeks so we are cancelling our plans to go to the Basque in the summer. It actually relieves me not having to think in going there for 2 weeks and spending all my PTO for the year. I am more inclined lately for a stay-cation where I spend time running, swimming, playing guitar, watching a good movie, bbqimg and perhaps playing some video games.

After retiring plans: I have been reading this very interesting topic viewtopic.php?t=12592&start=20 - and I think I have my plans very clear. My plans are to focus on health, enjoy family and make good/interesting friends. I wouldn't like to fall into the mistake of substituting my job for a hobby that takes as much time and commitment. I would like for things to flow naturally without having a schedule.

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Re: Frugal chicos journal - ERE in The Basque Country

Post by Frugalchicos »

Alright Team. Monthly update:

NW increase of 15K, very close to be officially millionaires. We forecast we will achieve the milestone by summer.

Life is good so far, I am working on becoming a better father, husband and friend. Trying to connect more with my daughter helping her with whatever she needs, going out with her little bike, trying to get her to sleep at night (she refuses to do it with me). In regards to marriage, I am trying to be supportive and will keep working on communication.

On the friendship side, I am planning on starting running with a friend. I don't know him much, but it seems like we connect in regards to how we see life (he is aware of the FIRE movement) and also likes to do sport (rare among my friends who only run behind their kids).

Work: I am still in the hiring process for the Manager of Managers role. Next interview will be with my Director and 2 more managers. I feel confident about it and think I have a fair chance. I also feel that I am in a great spot already and wouldn't be a failure not to get the position. I don't necessarily want to have the extra stress and responsibilities that will come with the position. But I will definitely welcome the extra 20-25K.

We are considering the idea of buying another property back in The Basque Country. Perhaps a bigger place (85-90 sq ms) and rent our existing place. We always liked the idea of having a local income that could help minimizing the withdrawals. We are still discussing the action plan, but it could be like putting aside bonuses and such. However, I also feel we could miss on the current low market. Decisions, decisions...

Thinking in downloading some Gary Collins' books about Simple Life. However, I watched a couple of his youtube videos and gave me some Seth Rogan vibe...feedback is welcome.

Nicolino
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Re: Frugal chicos journal - ERE in The Basque Country

Post by Nicolino »

Great everything´s going well. I also would like to have a "local" rental as well, I like the idea of the cash flow and reducing withdrawals. More of a psychological thing to me, I am thinking about a couple small properties that eventually cover 30-40% of my expenses. That would bring a lot of piece of mind.

2Birds1Stone
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Re: Frugal chicos journal - ERE in The Basque Country

Post by 2Birds1Stone »

Will you be in the Basque this spring? We're thinking about visiting Galicia/Basque the first two weeks of June.

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Seppia
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Re: Frugal chicos journal - ERE in The Basque Country

Post by Seppia »

Great to see you keep pushing ahead in life.
Being a “serial expat” i 100% understands your approach of limiting things to do and people to see when you go back home.
When I was young I would try to do too many things and meet with everybody.
I have in time became much more deliberate, and narrowed down the number of thing and people.
This makes for much more relaxing trips (in the last, I used to come back more tired that when I we t on vacation).

The end result is I have (after almost 20 years) fewer, but very good and deep relationships at home.

I think quality over quantity is the right choice in this as well.

Frugalchicos
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Re: Frugal chicos journal - ERE in The Basque Country

Post by Frugalchicos »

@nicolino

Yea, I like the idea of buying a rental condo that our daughter can live in the future. However, I am only entertaining this idea at the moment if I continue working and can get a mortgage. There is no need of jeopardizing our plans of early retirement

@2Birds1Stone

Unfortunately not, I don't think we will go this year since my mom is coming to Chicago for 2 months during the summer. It would have been great meeting you guys there for some food and drinks. Please let me know if you need any recommendations

@Seppia

Absolutely, might be an aging thing that I value my time much more and I do only (mostly) what I really want to do.

Frugalchicos
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Re: Frugal chicos journal - ERE in The Basque Country

Post by Frugalchicos »

Little update with some thoughts/life events that have been going on lately.

Thoughts:
Became a better spender:
As we progressed in our FI/ERE journey, I think I learnt how to prioritize expenses and what is important in life. I buy less but much better quality than 10 years ago where I could get confused between frugal and cheap. In the last few years, I have been buying quality products but always second hand. Usually, when I buy something, I expect that product to last 6-10 years (6 at least for small for electronics and 10 for clothing). This can also apply to food. Now I feel more comfortable paying a more for the organic product or buying a better cut for meat.

Others' perception:
Recently, I had a conversation with a friend about ERE/FIRE. I had no idea we were very much into those movements/lifestyles. He assured he would have never imagined that based on the way I dress, appearance, etc. Sometimes, it is hard for me to wrap my head around as of why not everyone around me is in the same financial position as us. At the end of the day, we lead an average middle class life full of abundance that only needed few tweaks and lifestyle changes (especially at the beginning of our journey). I didn't get to deep into the details, but I hope some of my friends got enlightened by the available opportunities when changing few things that go against the mainstream

Future Life Dreams:

I would like to buy a bigger and better house in the future. I know I mentioned this in the past. But I would like to write down the details about this goal. I see 2 possible scenarios at the moment:

1 - Ideal scenario: We go back to The Basque Country with our good jobs. This will allow us to get a mortgage for a 300K or so condo. Most likely we would ask for a 150K mortgage and pay the rest like in 20 years or so. In this scenario we keep our current condo and rent it for 700E/month. That rent will cover the mortgage of the bigger condo.

If things go well, we would pay the bigger condo within 5 years and use the rental money to cover most of our expenses.

2 - Alternative scenario: We don't have jobs when we go back. We sell our current condo for 180K and use that money to buy a bigger place.

Of course, we can always keep our condo and live there for a couple of decades. But it is true that I would like to buy a better, bigger place with elevator (thinking in when I am 100yo)

Other life events:

Chica's career has been wildly successful. She has more than tripled her income since we started this journal. She has also been approached in the last 2 weeks by 2 companies for a big shot position. She has already got an offer from one of those companies and rejected it because it is a smaller agency and the agreed salary wasn't matched in the offer received. She is still waiting on an offer from the other company and we are expecting it to be north of the 200K. Of course, there needs to be more than the money since her actual company will probably allow her to work from Spain in some capacity. That is very important for both of us since it will give us the opportunity to keep growing our little emporium in The Basque Country.

On the other hand, I am still waiting on hearing about the Manager position. Last week 300 people got laid off, so things are taking a bit longer than expected to be approved. Hopefully, I get the position, last time I heard I was among the last 4 candidates for the 2 open positions. The expected salary is 110K

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Re: Frugal chicos journal - ERE in The Basque Country

Post by 2Birds1Stone »

Good to hear things are going well. We're gonna pop into your neck of the woods (sort of) in June by visiting Galicia after spending a week in Geres national park. Unfortunately we won't have the time or ability to make it all the way to Bilbao area, but Santiago should be a small taste. Loved the other parts of Spain we spent April in, could see spending much more time there ourselves.

Remember, the thirst for more is unquenchable. Bigger house will just lead to the next goal post moving, you're already rich and don't need these promotions to be even richer. Hope that didn't come off negative, but from the tone of some of the posts it sounds like you're convinced that more/bigger = happier.

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Re: Frugal chicos journal - ERE in The Basque Country

Post by Frugalchicos »

@2Birds1Stone

Hey! Glad to hear you are enjoying Portugal and Spain. Galicia is very nice, especially its seafood. We went to Santiago in 2020 and thought it was beautiful, the old town is quite impressive.

No problem, not coming across as negative or anything. I agree there is a never ending for more and better. However, the promotions, etc are only part of the “game” we are playing while we are here. Since we decided we wanted to be here until 2025, might as well make more money while we are here.

In regards to the condo, we only think it would be nice to have an elevator for when we are old and more space for the family. Honestly, we are not asking for anything crazy, just something a bit better. But, we will not compromise the goal for it. There is also no rush on buying a condo, etc, it is only an idea/dream

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Re: Frugal chicos journal - ERE in The Basque Country

Post by Frugalchicos »

Alright team, I got the promotion!! My director confirmed it yesterday :)

This position will be demanding since I will continue with my current responsibilities, lead my account and manage a global team of 5 managers. I will also be expected to come up with strategic initiatives and plans to enhance my division.

I am very excited for the opportunity and very glad that my hard work has been recognized with this promotion. I will be making 115K including bonus, which is a big milestones for me. I feel very accomplished and proud of myself. Hopefully, this also help me to be able to continue working from The Basque Country in a couple of years. At least for the first 2 years to help us with the transition, etc.

These next couple of years are going to be big bucks in the Frugal Chicos family. We are at 250K a year with a total potential of close to 290K depending on the bonuses.

Another good news we learned yesterday is that mini chica has been accepted at the school next to our place. It is literally 5 minutes walking, it is a nice school in a good area and most of her little friends are going to go there too. Very excited for it and very happy to save $1,250 a month starting in July. Our potential savings starting on July will be somewhere around $11,500/month counting 401Ks.

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