Hello fellow Mustachians! I've been a year long lurker here on the MMM site. I'm a 28 year old guy and I love living in midtown Sacramento. I feel it is time to open myself up for a case study as I do have a few questions I haven't found answers to!
Yearly Gross Income $80,000 - $113,000. RN's are paid hourly (oh, the OT!) and I work 56 hours every 2 weeks. If I work the bare minimum hours my yearly gross income is $80,000. If I work 40 hour work weeks then my gross is $113,152. A lot more with over time pay.
Monthly Net Income $3,000 - $4,500
Monthly Current Expenses
Rent $510
Utilities $30
Wifi $30
Groceries/going out $300 - $400
Auto insurance $56
Gas $80
T-mobile cellphone: $30
Climbing gym/crossfit/gym $70
Dues to my family for Tahoe cabin - $16.60
Health/dental/vision - free
Total $1,176
Assets
403b - $45,000 - 80% stock (FSEVX) 20% bond (FSITX)
Roth IRA - $12,900 - Same assets as 403b but Vanguard
Vanguard taxable - $7,800 - 100% VTSMX
Emergency Fund - $3,000
4 cylinder manual Ford Ranger - $1,000
Paycheck breakup
20% to the 403b until it is maxed out
10% to my taxable Vanguard account
10% to my savings/emergency fund until $6000 is reached (approx. a little less than 6 months)
$212 of every paycheck goes to my Roth
The rest goes into my checking where I pay bills then stuff it into savings or the taxable account.
Debt None!
Short Term Goals
1. Take the GF hiking in Nepal in 2016 - $6,000
2. Wedding ring + wedding - ???
3. Save for a down payment on a duplex - Cost about $300k in Sacramento
Long Term Goals
1. I'm in no rush to FI. Maybe 20 - 25 years. Nursing brings me great satisfaction. But, FI would allow me to follow my dreams of traveling like the Bumfuzzles
2. Own a few (2-3) duplex for semi passive income
3. Eventually buy the least expensive house in the nicest neighborhood. I love East Sac!
4. Help the GF start her own PR Firm in 5 years (she has no debt)
5. Go back to school to be a nurse practitioner/physician assistant/certified nurse anesthetist (would cost north of $100,000)
6. After FI give my time to Doctors Without Borders
7. Kids (happy accidents)
My questions to you guys!
1. Does anybody know any mustachian ways to buy a wedding ring? I cant help but feel I'm going to get hosed by a jeweler? How much should I spend?
2. I want to put a down payment on a duplex to live in one unit and rent the other out. Where do I save the capital for this? In my taxable vanguard account or in a savings account?
3. Which order should I buy the big ticket stuff? Wedding ring, duplex, grad school? Just FYI RNs make approx the same as NPs & PAs here in Sac. CRNAs make 200k+
4. I'm new to this FI thing. Am I on the right path?