Hello,
I love this forum (and the people behind it), and that's why I will try to keep it simple
and short.
Life Situation: My GF and I. Both 30.
Gross Salary/Wages: 1000+1500 brutto, 700+1000 netto , no debt, no mortage.
Other Ordinary Income: 20-30 a month, as she writes articles to health/fitness blog.
I have no other income.
I'm not sure, how to translate (not the word, but the system) 401k, HSA, FSA, IRA,
insurance, etc. - whatever you have. So i will try to explain briefly.
What we have today:
1 flat (2 rooms, 1 kitchen, 1 bathroom, 1 toilet) in a concrete (ugly) socialistic
house (120 total flats). It is 15 minutes by car from downtown. Among 17 city parts, it's
average in popularity and overall. Estimated worth is 100k. Speculative worth is
105k. Size is around 555 sq ft. Liquidity is rather high, I think we could sell in
1-2month, for estimated, 6 months for speculative, but that is only my limited opinion.
1 car, 5.5yrs old, 140k miles, new value 24k, estimated value 8k fast sell,
10k for similar cars but a bit lower mileage. 28MPG. Usage: her work, my work, family,
short trips, long trips. To be honest, the border between laziness and a need is fragile.
We could survive without it, but would make life tough (family visits, would need hire a
car for vacation 500miles away, that cost 250/week + gas, in average once or twice a year).
Est miles per year = 25k.
1 small poodle. :)
No one from us has life insurance, only the state insurance. Paid from work, wage. Will not
bore you, complicated. Here in EU (or my country specifically) its expensive, and well,
quite different. usually they allow only to the amount of the loan (eg, as primary family
earner, they would insurance me up to 100k,if i would have 100k loan, but logically, that
would not suffice in real life, after my death, as she could be 1 week pregnant, and so on,
a lot of theories).
Anyway, 100k in flat, 8k in car we need. she is 15 min away from job, I am 1 hr away from
job (6hrs hard job), she has 15k in saving account, no interest rate (i have no balls to
suggest her any stocks or bonds in today's markets). I pay the bills.
Bills: (for easy count, monthly rates)
flat: energy+water 80, repairs fund 40 (all flats must pay this, its our share), electric
energy 30, internet+tv 20, both phones 10
car: well, this is funny part, tax 12, insurance 40 (I can cancel this), oil change and so
on (a lot of DIY) 40, gas 250
poodle: 10
food: well, this is relative, since I put money into gas, which takes me to my and her
family, they donate us their own food from their own land, so some gas translate into food,
the rest is = 200 (both of us)
clothing: she has to dress nicely, favorite store H&M ( I think expensive, but people say
its average), I have no exact numbers, but I think 50 a month for her. 20 for me, let's
say. shoes included.
bathroom: no exact unfortunately, but 20 both
fun: 20 (random basis, cinema, eating out, drink out, expensive bottle water out when we
forget it home and so on)
Total 842
Left 858
Max possible savings per annum = 10296
Few things I did forget, bank fees, she 4/mon, me 0 (I'm more aggressive here with banks,
she refuses, so that's it, it's complicated). So that's why I like to round down from 858
to 800. Seems reasonable, as I did not calc anything like dish washer (5yrs old) and so on.
If this is against rules, I will upload a super detailed sheet few weeks later. Vacation is
1-2K yearly too, ehm...
So real possible savings per annum = 8K
Now, how much per month do we need to FIRE? That's the question. I am not sure.
One bonus - we have no kids,if we would want one, its +300/mon.
From thsi income, I can't believe someone would reach FIRE in one lifetime... BUT that's the reason i did post this topic, I would need some out of box opinion...