To Sprint or not to Sprint
At the end of December I talked about my last free day (I was working part time then). I also outlined my plan about a “sprint to the finish line”. With “conservative” numbers I ended at my target net worth number (600k) in mid 2020. Now, “conservative” meant around 1 % return per month. I’m selling options, so 1 % is certainly achievable, but no given.
Also, to quit my job earlier I wanted to build a second income stream. I had this plan for a very long time now (years), but still have almost nothing to show.
A few weeks ago I had an epiphany: Could I already live like in FIRE, while still working? (My work is very relaxed.) And what would it look like if I had no stock market income at all?
So I calculated with (almost) no stock market income (just around 2 % per year) and reached 600k end of 2022 – only 2.5 years more! (With around 4 % per year I get there end of 2021.)
I also made a list of things I would like to do when FIRE (spending time in nature, spending time with my kids, programming on private projects, eating healthy, sleeping enough, not stressing about money). And a lot of them are at least somewhat possible even now.
So I decided to not (aggressively) pursue my second income stream goal. I will still program on my side project, but mainly use it for my own.
EurFI - European way to Financial Independence 
Financial Independence 11:47 on 2017-05-03 Permalink |
Looking at you I always comparing fat vs. thin. Thin is easier to move, jump around and need less weight to carry around. Although I could not imagine myself living on 2K a months (not with mortgage and kids) but glad that you could do it.
I did calculate it recently and will be quite lucky if we could retire in 30 years time at the current progress :-)))
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eurfi 14:28 on 2017-05-04 Permalink |
Yes, we have lots of common things. Similar net worth, kids, etc.
The 2k are when the mortgage is gone. Also, it might be more like 2.5k (because of our damn pension contracts). It also does not include buying a new car (which we would like to do once I retire) – a camper van.
But on the positive side, being retired for me just means quitting my day job. I would continue to earn money with my side job and by selling options (which hopefully achieve more than 4 % p. a.) And my wife would continue working. That is the reason I keep my target number at 600k and do not increase it to 750k (4 % for 2.5k per month). Heck, I could even quit now, but my wife is not comfortable with that thought…
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