ARIMA Posted March 29, 2016 Share Posted March 29, 2016 It's been a real positive journey for me is all I can say. I keep the blog up to hopefully show people what can be done if they start and show determination. They're really the only two traits required. The rest is just learning the method. On the earnings front. I've had people challenge me in the past that the only reason I can do what I'm doing is because of my earnings. The funny thing is when I started on my journey I didn't earn anywhere near what I earn now. In fact on my blog I was very transparent, laid out how I was going to earn more and then went and did it. My method is not easy and is hard work but it's not revolutionary. On the retirement front. I agree entirely. Last year I spent £24k. 63% of that was rent and council tax. I live in an expensive part of the UK as it enables me to maximise savings (earnings less tax less spending). In FIRE I'm planning on EUR25k (plus a paid for home) which will enable me to live the life of Riley if I so choose. None of that comes anywhere near my earnings today. Does that EUR25k include the component of family spending that is currently coming from your wife's income - you've mentioned that she covers off certain aspects? Or will she keep earning in your FIRE location? Otherwise there might be a gap there. I've always found it very easy to be financially disciplined - apart from during univ. I've naturally just accumulated money. However now I'm solely supporting a family it's much harder, and my behaviour has not really changed (although I still manage a run rate of £40k p.a. 'Savings' albeit mostly via pension contributions and debt repayments i.e. Savings which start from a negative base!). Quote Link to comment Share on other sites More sharing options...
wish I could afford one Posted March 29, 2016 Share Posted March 29, 2016 Does that EUR25k include the component of family spending that is currently coming from your wife's income - you've mentioned that she covers off certain aspects? Or will she keep earning in your FIRE location? Otherwise there might be a gap there. I've always found it very easy to be financially disciplined - apart from during univ. I've naturally just accumulated money. However now I'm solely supporting a family it's much harder, and my behaviour has not really changed (although I still manage a run rate of £40k p.a. 'Savings' albeit mostly via pension contributions and debt repayments i.e. Savings which start from a negative base!). No, I (the EUR25k) will cover all family costs and my own 'fun' money. My better half just has to cover her 'fun' costs. She will FIRE at the same time but her wealth will be significantly lower than mine (long story why, but it works for us) but still plenty for 'fun'. In fact she'll have more 'fun' money than me in FIRE... Quote Link to comment Share on other sites More sharing options...
ARIMA Posted March 29, 2016 Share Posted March 29, 2016 No, I (the EUR25k) will cover all family costs and my own 'fun' money. My better half just has to cover her 'fun' costs. She will FIRE at the same time but her wealth will be significantly lower than mine (long story why, but it works for us) but still plenty for 'fun'. In fact she'll have more 'fun' money than me in FIRE...Ah yes good point - I hadn't considered she would have built up some capital, pensions etc as well. My wife has as well to be fair albeit most of it is now rolled up in the house. Quote Link to comment Share on other sites More sharing options...
Wurzel Of Highbridge Posted March 29, 2016 Share Posted March 29, 2016 So who is going to employ all these old 70+ year olds and to they have old people facilities? Will they mind the inefficiency as they spend 10 minutes looking for their glasses in between each task? Do people in china work until 70? Quote Link to comment Share on other sites More sharing options...
winkie Posted March 30, 2016 Share Posted March 30, 2016 So who is going to employ all these old 70+ year olds and to they have old people facilities? Will they mind the inefficiency as they spend 10 minutes looking for their glasses in between each task? Do people in china work until 70? Quite, manual workers, roofers, builders etc certainly will not....70 year old fireman, don't think so...I think they are blind as to how they think the 55 plus that are unable, unfit and unhealthy will be financing their twilight years......people with progressive dementia can and do live very long lives, strong as ox some of them but unable to work themselves only provide work for others....where will the money and/or the care required come from? Quote Link to comment Share on other sites More sharing options...
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