NOTE - This is the first post and may not be EXACTLY accurate(401k totals not present, total value at end of month of stock accounts), but moving forward I will hopefully get this data to be more accurately represented!
The goal of this case study is to show others a different way to live life, one that is over a long term can allow them to travel like a turtle with their home on their back, all the while not blowing the bank; and most importantly, not destroying the pale blue dot.
Details:
First off we are not inheritance babies, we work hard, forgave a lot to build the life we have chosen to live. I believe in hard work, strong work ethic, and continuously improving yourself, and in turn, you will be rewarded in a life that will be fulfilled.
My fiancee and I live aboard a 1980 42ft Sailboat in a marina on Bainbridge Island WA. We have been living aboard since August, 2018. When we purchased the boat, we had just returned from a 18+/- month journey that took us through Europe via backpacks and through the USA and Mexico via our converted 4Runner(SUVlife?). The boat is in need of repairs(not cheap), but we got her at a price we felt was a good deal versus what she should be valued at in a decent condition. The other reason we bought her was because when she’s done, she’ll be a world cruiser for the two of us(and maybe a stowaway) and is our home at the end of the day.
Moving forward I will have a segment on the months overview, break down any changes, list out big ticket items I bought.
GOALS:
* To become FIRE by age 47($750,000 in funds)
* Take 2 years off work to do a Pacific crossing aboard our sailboat
* After FIRE? Who knows, maybe a 10 or 20 year circumnavigation?
Life Situation: Seattle, WA. Age 28, partner 26, filing jointly
(ESTIMATED)Gross Salary/Wages:
Me: $95,000/year(salary)
Wife(works per diem): ~$30,000/year
Bonuses:
Me:
* Quarterly performance bonuses:
* Q1: 14% - $3150
Individual amounts of each Pre-tax deductions:
Me(bi-weekly):
* 401k: $237.51
* Healthcare: $45.82
* Dental: $16.56
* Vision: $1.11
* HSA: $273.29
* Transit: $54.80
Wife:
* 401k: $100(fluctuates based on how much she works)
***NOTES***
* Categories are coming from YNAB directly
* Moorage includes water/power/internet/dock box storage
* Quality of Life group had a large change in expense due to not investing anything the prior month
* Income included first quarter bonus
INCOME:
MONTHLY TOTAL: $12,643.51
AVERAGE(since Jan 2018): $7,444.03
TOTAL(since Jan 2018): $37,220.16
EXPENSES:
MONTHLY TOTAL: $7,145.67
AVERAGE(since Jan 2018): $5,427.02
% Difference from previous month: +24.27%
TOTAL(since Jan 2018): $27,135.11
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IMMEDIATE OBLIGATIONS:
* Moorage: $765.77
* Phone: $134.02
* Groceries: $704.87
* Transportation: $99.20
TOTAL: $1,703.86
AVERAGE: $1,481.48
% Difference from previous month: +19.94%
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TRUE EXPENSES:
* Business Expenses: $86.85
* Smokables: $162.85
* Propane(cooking): $0
* Heating(diesel heater): $0
* Gas: $178.62
* Auto Maintenance: $0
* Boat Maintenance: $2340.32
* Gifts: $14.81
* Software Subs: $75.48
* Stuff I forgot to budget for: $250.10
* Auto Insurance: $0
* Boat Insurance: $0
TOTAL: $3,109.03
AVERAGE: $2,634.12
% Difference from previous month: +3.74%
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Quality of Life:
* Investing: $1650
* Wife Spending: $22.31
* Vacation: $358.30
* My Spending: $102.19
TOTAL: $2,132.80
AVERAGE: $1,130.77
% Difference from previous month: +69.76%
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Just for Fun:
* Dining Out: $155.99
* Fun Money: $43.99
TOTAL: $199.98
AVERAGE: $180.65
% Difference from previous month: +10.81%
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Assets:
Car: 1996 Toyota 4Runner - $3500
Boat: 1980 Pacific International Marine: $40,000
Stocks(Active management - Will move away to personal management soon): $84,000
Vanguard Index Funds(Personally managed): $24,000
Cash: $18,000
TOTAL: $169,500
Liabilities:
No liabilities
I use YNAB for all of my budgeting - -
YNAB.com referral link (You get a month free + I also do too)