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I could sense something has shifted with/for you. It sounds good.. Invigorating, perhaps even...
Yeah, thanks. The everyday routine still is what it is, but there's less of that "going through the motions" feeling now that a plan is forming and action being taken. I'd say the shift started in 2016, but it's been gradual. First in my head. Then just loosening up. Now taking steps toward a concrete plan. (Volunteer work starts tomorrow.) Moving out of area likely within next year, almost certain within 2 years.
Quote:
Originally Posted by flyingsaucermom
The DM's might have bothered you, but they weren't bothersome to me. I don't have much time to sit down and write.
Didn't bother me per se, just that they ended kind of abruptly with last message somehow disappearing/being rescinded (didn't know it was possible to do that). But it made me realize I had to take more concrete action, which I've started to do.
Quote:
Originally Posted by flyingsaucermom
And then there is the part about me being unjustifiably antagonistic sometimes.
Mmmmm yeah, that is true. Glad you recognize it. I wonder if it's related to your sometimes intense focus on things.
Quote:
Originally Posted by flyingsaucermom
But though you say were being "heavy" I think you are quite good at staying courteous and mindful.
Yeah, thanks. I didn't think I was uncourteous...just more like I was blathering on instead of taking concrete action in the real world.
Last edited by mysticaltyger; 09-23-2019 at 12:36 PM..
Approx 30% covers 401k maximum. I dont always hit the max as certain expenses come up. I'm only saving about 16,000 this year due to an expensive vacation and a wedding I'm attending later this year.
10% covers max for Roth.
By end of year I've saved another 1-10% of my income in cash that usually gets directed to investments in some form or fashion.
You're doing great. You're on the fast track for FI for sure.
You're doing great. You're on the fast track for FI for sure.
True but as you can see I'm low income compare to many here. Since I don't have a professional level job/education my wage progression will be slow. Housing where I live is about 7-8x my annual salary so I haven't ventured that direction yet. I'm fortunate to rent a room in a house with a friend that has never raised the rent. Having no consumer debt what so ever or loans keeps the expenses low. The low rent gravy train may end one day and an apartment with be 3x my current cost. That would wipe out most all of my 401k discretionary savings right there.
Between all savings, from net after paycheck to post tax ESOP deductions to 401k contributions between us and our employer (match) and dividends we save around ~15,000/month. I do not know what % savings that is as the computation would be quite difficult as I am not salary and income varies month to month. It's kinda irrelevant though IMO as you don't spend % of savings rate, you spend money.
Yeah, thanks. The everyday routine still is what it is, but there's less of that "going through the motions" feeling now that a plan is forming and action being taken. I'd say the shift started in 2016, but it's been gradual. First in my head. Then just loosening up. Now taking steps toward a concrete plan. (Volunteer work starts tomorrow.) Moving out of area likely within next year, almost certain within 2 years.
Didn't bother me per se, just that they ended kind of abruptly with last message somehow disappearing/being rescinded (didn't know it was possible to do that). But it made me realize I had to take more concrete action, which I've started to do.
Mmmmm yeah, that is true. Glad you recognize it. I wonder if it's related to your sometimes intense focus on things.
Yeah, thanks. I didn't think I was uncourteous...just more like I was blathering on instead of taking concrete action in the real world.
Not sure it matters at this point anyway, but I didn't know a message (or more) has disappeared. I've not rescinded anything, nor am I aware that it's possible to rescind them.
I do it because I must. My job is definitely being pushed to go away due to advanced robotics and automation and I also have to pass a yearly medical review to continue working. The government agency responsible has given more leeway in terms of what's allowed but my career could disappear in a moment. I figure why not make hay while I can.
Eventually the good times will stop. Then I can sit back and relax and coast without worry, and spend all my (reduced) income and let my savings compound.
I do it because I must. My job is definitely being pushed to go away due to advanced robotics and automation and I also have to pass a yearly medical review to continue working. The government agency responsible has given more leeway in terms of what's allowed but my career could disappear in a moment. I figure why not make hay while I can.
Eventually the good times will stop. Then I can sit back and relax and coast without worry, and spend all my (reduced) income and let my savings compound.
It's great that you're a forward thinker. Due to the cost of living and my income of only 60k a year housing where I live is sort of unaffordable (starter home 6-8x my annual salary) unless I want to be house broke or rent 2 bedrooms of the 3 bedroom house that I would buy. For now I just try to do my best to save about 25k a year and I plan to move somewhere cheaper before I retire. I've already saved enough in my short work history to make me a multi millionaire in my early 60's (3 decades away) so I should be alright.
True but as you can see I'm low income compared to many here. Since I don't have a professional level job/education my wage progression will be slow. Housing where I live is about 7-8x my annual salary so I haven't ventured that direction yet. I'm fortunate to rent a room in a house with a friend that has never raised the rent. Having no consumer debt what so ever or loans keeps the expenses low. The low rent gravy train may end one day and an apartment with be 3x my current cost. That would wipe out most all of my 401k discretionary savings right there.
Pipsters saving 15k a month is the real MVP.
That's ok. You're doing great for your income, which proves being in a good financial position can be done on a modest income in a relatively high cost area like yours. I believe you're under 30, right? I did something similar when I was your age until I was 35. But if I got to 50% it was just barely...and then I just had to upgrade housing. So you're still several years ahead of where I was. I think you started earlier without student loan debt (smart!).
I'll admit you probably should look into earning more. But even if you don't, if you just keep up what you're doing for a few more years, you can do a lifestyle upgrade and throttle back on the savings while letting your investments work for you. That's still a solid place to be.
Or maybe you decide to do geo-arbitrage and move somewhere like Thailand. It wouldn't be for me, but you're younger. Or maybe you move to a lower cost area of the U.S. and become barista-FIRE.
In any case, you're setting yourself up with options.
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