Author Topic: I'm at the boring part - dialed in, savings maxed  (Read 8602 times)

NWOutlier

  • Stubble
  • **
  • Posts: 116
  • Age: 52
  • Location: Seattle Area
I'm at the boring part - dialed in, savings maxed
« on: July 04, 2015, 12:45:11 PM »
Hi Everyone,

Back in 2009 I started to research increasing my income (already had a great income, but I thought I needed more)... I learned during that time if you have bad money habits, you would just have bad money habits with more money, creating bigger problems...  sometime after 2011 I found MMM and a few other sites and adjusted my thinking (spend less).. it worked.  it worked very very well.  Between 2011 and 2013 I adjusted, tweaked, kept reading, learning and staying engaged (exited for my future self!)....  Now, in 2015 I've squeezed everything I can out of my income and place towards my future (I'm saving 50% of my total gross income) - everything is on auto-pilot..  I'm so adicted to making sure the money has as much time in the market as possible, I even drained my liquid savings a bit low (meaning less than 3 months living expenses so I can have more money in my taxable account)....

Now... well - it's boring, it's a waiting game.. I feel I've come full circle, and I'm back at the "well, let's sell stuff we don't use, make more money, put the money to work".... 

Anyone else get to this boring part?  I've read some articles on some within the community blogs about 'living like you're already FIRE' - so, when it's time to choose to leave work you just continue living.. I'm trying new things, helping my wife with the plants outside, started a garden (love that part), etc... Now I find myself addicted to the bloggers who have finally reached a point where they can choose to work, or choose where or what to work on...  the funny part?  The bloggers that finally leave the workforce have a massive drop off of blog posts (rightfully so, maybe their motivation has changed? their interests? they no longer have that negative aspect in their lives motivating them to write about?)...  But, yes, I'm adicted to know what they are doing with their time?


Anyway - I had a couple weeks off work, spent some time in Florida with my Dad, I'm at the end of my vacation and will be back to work on Monday, but the time off gave me some mind cycles to spend on this post - HA!


Thoughts?

NWOutlier - Steve
PS- when I say maxed I mean: 401k Maxed, Spouse IRA Maxed, Roth IRA Maxed, Health Savings Account Maxed, Taxable Account 6000-18000/yr (maxed)

hodedofome

  • Handlebar Stache
  • *****
  • Posts: 1426
  • Age: 41
  • Location: Texas
Re: I'm at the boring part - dialed in, savings maxed
« Reply #1 on: July 04, 2015, 01:17:49 PM »
Yes it's exciting at first but then the newness wears off and the rest is mostly a grind. People don't really like the daily grind but that's why we have discipline. Discipline gets you to do things when you don't feel like doing them. Good investing should be incredibly boring, you'll probably have to look to other things in your life if you want long term excitement.


Sent from my iPhone using Tapatalk

Heckler

  • Handlebar Stache
  • *****
  • Posts: 1364
Re: I'm at the boring part - dialed in, savings maxed
« Reply #2 on: July 04, 2015, 01:47:09 PM »
I'm wondering the same.  We used to drive all over the place on weekends, camping, biking, surfing, etc...   This summer, we've had three completely car free weekends at home and have saved lots.  However, I'm wondering if I'm just frittering away my younger years putzing about the house instead of getting out burning fuel and going out for food.

NWOutlier

  • Stubble
  • **
  • Posts: 116
  • Age: 52
  • Location: Seattle Area
Re: I'm at the boring part - dialed in, savings maxed
« Reply #3 on: July 04, 2015, 02:06:21 PM »
well, I don't feel like I'm wasting my years; thats good.  I do believe that this 'boring' part is expected, and I need to learn to do other things while I wait it out.  I honestly don't feel like I running so tight I don't get to have fun... to be honest, I still feel I live a life of abundance... (which secretly means, maybe I could save even more?) -

@hodedofome - I'll do more searching on things to do, I'm sure I can find something - I think it will be good practice so I don't feel so 'bored' after I have the ability to choose to work or not...  If I did choose to work, I would probably do software related contract (temp) work for 3-9 months out of the year and just futs around on the off times....  (just so I can play with high end equipment that I can't afford at home).

Other options are just find something totally random, my brother in law mentioned creating crucible & forge to melt aluminum ... I don't think I could make money at it, but I could consume my time in designing, creating one and putting it into practice..  :)  -

Today - I'll spend time with family over spending on fireworks (cause that's what we do every year)... 

The Tester

  • 5 O'Clock Shadow
  • *
  • Posts: 12
Re: I'm at the boring part - dialed in, savings maxed
« Reply #4 on: July 04, 2015, 02:36:13 PM »
MMM has written about this in the past, and I'm pretty sure everyone pursuing FIRE deals with this.  One suggestion is to get other people to do stuff with.  Either convert some of your friends over to the frugal path, or I know there is a concentration of fellow Mustachians in the Seattle area if you feel like meeting some new people.  Most activities are more fun when you do them with friends.

forummm

  • Walrus Stache
  • *******
  • Posts: 7389
  • Senior Mustachian
Re: I'm at the boring part - dialed in, savings maxed
« Reply #5 on: July 04, 2015, 03:30:02 PM »
I'm definitely in the place where I've been maxed out (or close to it) for awhile. I was maxed out before I had ever learned about MMM or ERE. So it is a waiting game. For me though, the biggest stuff that would change after FIRE is spending less time/brain on work and more on stuff that interests me. So I can't really do as much of that now as I would like. It has let me feel more comfortable shifting things at work so that I'm doing less of the time-wastey stuff and more stuff that's useful. And I might be downshifting to a job I like more but pays less as I get pretty close to being FI.

Eventually I might do more travelling and stuff. But there's plenty of time for that. I find that too much travelling is really tiring and it's hard to do that while working. It's hard to get away, so much stuff piles up while I'm gone, and I'm tired when I get back. And for some travel destinations, it can take a whole day or more to get there, so it's less convenient right now.

What would you do if you were FIRE? Focus on doing more of that now.

secondcor521

  • Magnum Stache
  • ******
  • Posts: 3349
  • Age: 51
  • Location: Boise, Idaho
  • Big cattle, no hat.
    • Age of Eon - Overwatch player videos
Re: I'm at the boring part - dialed in, savings maxed
« Reply #6 on: July 04, 2015, 07:05:27 PM »
I remember feeling that way a few years ago.  I'll tell you what I figured out about myself and maybe it applies to you too.

I've discovered I am a very goal-driven individual, and I like to have goals that I have met (for the sense of accomplishment) and goals I have not met (for the sense of challenge).  If I have no unmet goals, I can feel bored and restless.

So what I have had to do in those times is set more goals.  For example, once I got to where you are, I started actually planning out my FIRE plan - that took a while.  I also made sure that my estate plans / living will / etc. were up to snuff.

forummm

  • Walrus Stache
  • *******
  • Posts: 7389
  • Senior Mustachian
Re: I'm at the boring part - dialed in, savings maxed
« Reply #7 on: July 05, 2015, 05:35:09 AM »
I'm also very goal and project driven. As I think more seriously about getting close to FIRE, I think about how I will deal with myself. What I'll do with my time. Setting things up so I can get the right balance of interesting projects to work on and recreational time. I still am not sure exactly what this looks like. I'm not sure I'll be able to figure it out until I get there.

This whole life stuff is hard. Why doesn't anyone teach you how to figure it out? It's bad enough that no one teaches young people about personal finance. Maybe some parents have things figured out better and share that with their kids. I feel like I have so much more to share about life with my future offspring than my parents have even figured out for themselves to date.

innerscorecard

  • Pencil Stache
  • ****
  • Posts: 589
    • Inner Scorecard - Where financial independence, value investing and life meet
Re: I'm at the boring part - dialed in, savings maxed
« Reply #8 on: July 05, 2015, 06:15:22 AM »
It takes time. You need patience to succeed in building and keeping wealth. Most people don't have patience. That's why there is this opportunity to build more wealth than others have, if you are more patient than others are.

BarkyardBQ

  • Pencil Stache
  • ****
  • Posts: 667
Re: I'm at the boring part - dialed in, savings maxed
« Reply #9 on: July 05, 2015, 10:26:58 AM »
Take a break from the optimizing for a bit, enjoy some of the things you will do in FIRE and enjoy the journey now...

http://www.madfientist.com/happiness-through-subtraction/

Zamboni

  • Magnum Stache
  • ******
  • Posts: 2766
Re: I'm at the boring part - dialed in, savings maxed
« Reply #10 on: July 05, 2015, 10:57:10 AM »
Yes, it is kind of boring . . . but I still like it!

Financial.Velociraptor

  • Handlebar Stache
  • *****
  • Posts: 1649
  • Age: 48
  • Location: Houston TX
  • Devour your prey raptors!
    • Financial Velociraptor
Re: I'm at the boring part - dialed in, savings maxed
« Reply #11 on: July 05, 2015, 10:59:24 AM »
Been there, done that.

It's weird later.  When you are "close" each incremental paycheck adds a smaller percentage increase to your 'stache than it did when you first started.  So the longer it drags out, the less motivated you feel as you get less and less seratonin and dopamine from each deposit.  Your 'give-a-shit-o-meter' gets close to the "E".  Your [work] 'give-a-shit-o-meter' also starts running low as you can survive for years without the job so it is easy to lose hustle.  My brain-to-mouth filter started malfunctioning and finally went completely offline.  (I stayed employed through that because I mastered the art of being polite/friendly while being candid.)  One boss-man-lady couldn't handle it though.  Senior management moved me to role where we didn't interact because there was too much headbutting and I was still valuable enough to keep.  Dr. Doom/livingafi documented a very similar process on his blog shortly before FIRE regarding his first ever use of psychiatric services to get a handle on his ennui regarding being so close to the goal.

Do you plan to take up any kind of hobby or sideline in FIRE?  It might help to dabble in that and it will easy your transition once the date arrives.

Roots&Wings

  • Handlebar Stache
  • *****
  • Posts: 1283
Re: I'm at the boring part - dialed in, savings maxed
« Reply #12 on: July 05, 2015, 11:14:42 AM »
Also coasting financially, and having fun developing some of the hobbies and interests I hope to do more of once FIRE.

Feeling that I'm well on track financially, and at a basic level no longer financially obligated to work for a living, I've prioritized things like exercise, healthy food, and spending more time on things outside work that previously got the back-burner. And I'm much more effective at work and enjoying work more too :)

Suit

  • Bristles
  • ***
  • Posts: 275
Re: I'm at the boring part - dialed in, savings maxed
« Reply #13 on: July 05, 2015, 11:19:55 AM »
I'm in a similar spot, I found it helpful to go back and read this http://www.mrmoneymustache.com/2012/08/16/what-it-feels-like-to-become-rich/

GGNoob

  • Pencil Stache
  • ****
  • Posts: 726
  • Age: 33
  • Location: Colorado
Re: I'm at the boring part - dialed in, savings maxed
« Reply #14 on: July 05, 2015, 11:41:58 AM »
We are maxing everything, but still very early on in the process. At least it's still exciting to see so much added to our investments each month!


Sent from my iPhone using Tapatalk

waltworks

  • Magnum Stache
  • ******
  • Posts: 4562
Re: I'm at the boring part - dialed in, savings maxed
« Reply #15 on: July 05, 2015, 12:13:40 PM »
I think if you feel your life is boring and spending a bit more money would make it much more fun, you should spend the damn money.

FI is a means to an end, not an end in itself. Getting there faster is great but you need to find a spending/saving level that makes you happy enough in the meantime. Or find some more free hobbies!

-W

NWOutlier

  • Stubble
  • **
  • Posts: 116
  • Age: 52
  • Location: Seattle Area
Re: I'm at the boring part - dialed in, savings maxed
« Reply #16 on: July 05, 2015, 12:59:58 PM »
I'm definitely in the place where I've been maxed out (or close to it) for awhile. I was maxed out before I had ever learned about MMM or ERE. So it is a waiting game. For me though, the biggest stuff that would change after FIRE is spending less time/brain on work and more on stuff that interests me. So I can't really do as much of that now as I would like. It has let me feel more comfortable shifting things at work so that I'm doing less of the time-wastey stuff and more stuff that's useful. And I might be downshifting to a job I like more but pays less as I get pretty close to being FI.

Eventually I might do more travelling and stuff. But there's plenty of time for that. I find that too much travelling is really tiring and it's hard to do that while working. It's hard to get away, so much stuff piles up while I'm gone, and I'm tired when I get back. And for some travel destinations, it can take a whole day or more to get there, so it's less convenient right now.

What would you do if you were FIRE? Focus on doing more of that now.

That's it! (well, one thing) - I'm so glad I asked teh forum; dialing back my job!  that can be my next target... I can set a financial goal, then move out of management to something more enjoyable!  right now, I need the extra cash, so I'll stay put.  If I were FIRE right now, I still may work as a temp 3-9 months out of the year on something interesting (I enjoy software testing to be weird, I mean honest).  Outside of that, cycling, spending time with my daughter, help her go through school (like giong through school all over again)... a garden, lots of healthy food... 

Thanks!

chasesfish

  • Magnum Stache
  • ******
  • Posts: 3544
  • Age: 38
  • Location: South Carolina
Re: I'm at the boring part - dialed in, savings maxed
« Reply #17 on: July 05, 2015, 01:02:09 PM »
Congrats

Now focus on enjoying the journey.  What can you do every day to increase your time with friends, family, and improve your overall happiness.

NWOutlier

  • Stubble
  • **
  • Posts: 116
  • Age: 52
  • Location: Seattle Area
Re: I'm at the boring part - dialed in, savings maxed
« Reply #18 on: July 05, 2015, 01:02:23 PM »
I remember feeling that way a few years ago.  I'll tell you what I figured out about myself and maybe it applies to you too.

I've discovered I am a very goal-driven individual, and I like to have goals that I have met (for the sense of accomplishment) and goals I have not met (for the sense of challenge).  If I have no unmet goals, I can feel bored and restless.

So what I have had to do in those times is set more goals.  For example, once I got to where you are, I started actually planning out my FIRE plan - that took a while.  I also made sure that my estate plans / living will / etc. were up to snuff.

Secondcor521 - exactly; while building my plan, learning, putting it in practice - I was excited and engaged... now it's pretty much figured out... I do dabble in the area of understanding appropriate withdrawal and tax strategies, but I can't put anything in practice, so it's not as exciting.  Now, the concept of setting the goal and going after it, I completely agree - I guess this part is seeking out that goal and dig in! 

Steve (NWoutlier)

NWOutlier

  • Stubble
  • **
  • Posts: 116
  • Age: 52
  • Location: Seattle Area
Re: I'm at the boring part - dialed in, savings maxed
« Reply #19 on: July 05, 2015, 01:06:52 PM »
Been there, done that.

It's weird later.  When you are "close" each incremental paycheck adds a smaller percentage increase to your 'stache than it did when you first started.  So the longer it drags out, the less motivated you feel as you get less and less seratonin and dopamine from each deposit.  Your 'give-a-shit-o-meter' gets close to the "E".  Your [work] 'give-a-shit-o-meter' also starts running low as you can survive for years without the job so it is easy to lose hustle.  My brain-to-mouth filter started malfunctioning and finally went completely offline.  (I stayed employed through that because I mastered the art of being polite/friendly while being candid.)  One boss-man-lady couldn't handle it though.  Senior management moved me to role where we didn't interact because there was too much headbutting and I was still valuable enough to keep.  Dr. Doom/livingafi documented a very similar process on his blog shortly before FIRE regarding his first ever use of psychiatric services to get a handle on his ennui regarding being so close to the goal.

Do you plan to take up any kind of hobby or sideline in FIRE?  It might help to dabble in that and it will easy your transition once the date arrives.

Ha! Dr. Doom - love that guy, read a lot of his stuff - he was one of the other bloggers that left work and reduced posts... I completely understand, but it's when someone finally moves away from work that I'm interested in reading about; what are they doing? what are they experiencing? how are they dealing with it?  these are the same questions the bloggers answer as they work through the FIRE process...

As for the hobby, I will have to try a few things to see what I like; but health is something I really want back in my life... being in tech, sitting at a computer all day has provided me with a few extra lbs to lose and some bad eating habbits.

NWOutlier

  • Stubble
  • **
  • Posts: 116
  • Age: 52
  • Location: Seattle Area
Re: I'm at the boring part - dialed in, savings maxed
« Reply #20 on: July 05, 2015, 01:12:52 PM »

Been there, done that.

It's weird later.  When you are "close" each incremental paycheck adds a smaller percentage increase to your 'stache than it did when you first started.  So the longer it drags out, the less motivated you feel as you get less and less seratonin and dopamine from each deposit.  Your 'give-a-shit-o-meter' gets close to the "E". 

I just realized in your comment, you've given me another way to look at my savings rate; the reduction in percentage of growth due to my deposits... I added to my spreadsheet a calcuation that shows me my annual contribution is 11% currently, if I drive this down to anything below 4% (surprising how that number always comes up) I'm FI. 

I have other graphs that show total net worth month over month (invested cash only, no house, I can't eat my house...)  also a graph that shows income month over month with expenses and the estimated 3%-4% withdrawal rates... my goal with this graph is; when the withdrawal rate line item crosses the expenses line item and maintains consistent or increases the gap, I will pull the trigger and walk away.

thanks for the input, I'm really happy with all the comments from people; I'm reading through all of them and giving back (commenting) where I have something to add.

NWOutlier


NWOutlier

  • Stubble
  • **
  • Posts: 116
  • Age: 52
  • Location: Seattle Area
Re: I'm at the boring part - dialed in, savings maxed
« Reply #21 on: July 05, 2015, 01:18:10 PM »
I think if you feel your life is boring and spending a bit more money would make it much more fun, you should spend the damn money.

FI is a means to an end, not an end in itself. Getting there faster is great but you need to find a spending/saving level that makes you happy enough in the meantime. Or find some more free hobbies!

-W

I like how you think!  I don't feel strained on my spending, but I do put in effort when I decide to spend money, or I put it off... example, my current computer - it's way beyond old for someone in my industry (core duo) it's not even in the intel i series (i3, i5, i7)...  I just can't seem to let go of the cash... I have no problem spending my weekend in my spreadsheets, then executing on spending the cash on investments..... 

But, you're right - based on my comments above, I may be pressing it too hard, to "get there faster" - when really, I can live that way now, do more 'fun stuff'... I'll give this some serious thought, see what I come up with... but in short, you're really telling me to balance out...  I think I can...

Steve (NWoutlier)

NWOutlier

  • Stubble
  • **
  • Posts: 116
  • Age: 52
  • Location: Seattle Area
Re: I'm at the boring part - dialed in, savings maxed
« Reply #22 on: July 05, 2015, 01:19:26 PM »
Congrats

Now focus on enjoying the journey.  What can you do every day to increase your time with friends, family, and improve your overall happiness.

This is IT!!  well said, I believe a few people are saying the same thing, but this is right to the point!  I should be able to put my feet up, spend time with friends and family and instead of "wait it out" I can LIVE it out!


NWOutlier

  • Stubble
  • **
  • Posts: 116
  • Age: 52
  • Location: Seattle Area
Re: I'm at the boring part - dialed in, savings maxed
« Reply #23 on: July 05, 2015, 01:26:59 PM »
Take a break from the optimizing for a bit, enjoy some of the things you will do in FIRE and enjoy the journey now...

http://www.madfientist.com/happiness-through-subtraction/

Holy crap this is a good article, thank you!

NWOutlier

  • Stubble
  • **
  • Posts: 116
  • Age: 52
  • Location: Seattle Area
Re: I'm at the boring part - dialed in, savings maxed
« Reply #24 on: July 05, 2015, 01:51:56 PM »
I'm in a similar spot, I found it helpful to go back and read this http://www.mrmoneymustache.com/2012/08/16/what-it-feels-like-to-become-rich/

Stellar!  I'm actually recharged now after reading this post and the one from MadFientist!  to be honest, the "end game" now looks closer than I thought - because there isn't an end.. I can just change over time... lower my responsibility, keep working (or not)... but the bottom line, I don't have to deal with my extremely stressful job for much longer... why?  because I'm bored, which means, I'm well on my way....

Thanks to everyone that posted to my random question - I'm so glad I did.. that bordem was almost feeling like depression! HA!  I love the comparison MMM makes money to water:

"After that, work will be optional and money will become simply an appliance to you. Like clean, drinkable water from a tap, it is essential to basic life, but it fades into the background once you have enough of it."