Updates from August, 2018 Toggle Comment Threads | Keyboard Shortcuts

  • eurfi 22:56 on 2018-08-28 Permalink | Reply  

    Falling Victim to the Diderot Effect 

    After buying our camper van I felt victim to the Diderot effect. The new car “needed” lots of small electronics (power plugs, converters, 4G router, …), kitchen stuff and sleeping textiles (pillows, blankets).

    And with AliExpress I found a fountain of ideas to purchase (if only it wouldn’t take so long to deliver).

    Of course, all these expenses are a danger to my goal of FIRE. But after loosing so much money I’m more relaxed in this regard. I want to enjoy life more now and not just in FIRE.

    My goal for our yearly expenses (the car itself not included) is below 36k. The running total (for the trailing 12 months) so far is rising (May till August were expensive months) and around 35.5k already. It is still possible, but not really looking good.

     
    • Financial Independence 0:37 on 2018-10-10 Permalink | Reply

      This the camper van, house or anything else no doubt there is temptation to invest a lot small improvements, which will inevitably add up. This is only human thing to do.
      What I could not really get my head around – why 4G router? I was geneuly thinking that the van is to get closer to nature, not have a mobile internet station.

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      • eurfi 23:01 on 2018-11-02 Permalink | Reply

        A month without Internet is not possible for me! I need it for the stock market (options trading) and I also work on the side.
        I like to combine nature (and adventure) with computer stuff. I work as a developer and I spend a lot of my free time in front of a computer.

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  • eurfi 21:54 on 2018-08-17 Permalink | Reply  

    How Loosing 100k changed my Life 

    Well, the 100k are not entirely true, but it sounded so nice…

    In February I lost 60k (compared to January). One of my options accounts was completely eliminated by the rising volatility in early February.

    This made me think.

    So far I was in a “sprint to the finish line”. Now I saw that the markets are clearly not an one-way street. And living off from my investment income might be more problematic than I thought.

    After a few iterations I will now probably work longer (more years) than I initially hoped. And now I’m looking for ways to make these years more pleasureable.

    Long story short: We bought a camper van! (That is the remaining 40k “loss”.)

    We already spent a month (summer break) with our kids in it. We like it very much! Before we bought it, we did a test run with a rented car (for a week). That was in May.

    I could sell the house and only live in the van, but of course my wife and children have a different opinion. 🙂

     

     
    • Financial Independence 0:41 on 2018-10-10 Permalink | Reply

      Congatulations on buying the van! I sincerely hope that you will continue to enjoy it for many years to come. How does the FIRE look like now?

      Will you change your investment strategy or will keep doing it the same at risk of loosing money? What has happened?

      Many thanks for sharing the news. EU regulators cleaning €1tn market for “contracts for difference” — derivatives that allow traders to track the price of an underlying asset such as gold, shares or a cryptocurrency. Data show that between 74 and 89 per cent of European retail accounts trading CFDs lose money, with losses ranging between €1,600 and €29,000.

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      • eurfi 23:06 on 2018-11-02 Permalink | Reply

        2018 is a very bad year for me. I did between okay and well the years before.
        Yes, I will change my investment strategy. At the moment I’m (almost) flat. I closed all option positions (taking another loss).
        Living off my investments is not as predictable as I initially thought. I might never fully retire. I’m thinking about reducing my hours (but probably not now), but working longer (more years).
        It is socially most accepted 😉

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