Author Topic: Le Barbu case study  (Read 12031 times)

Le Barbu

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Re: Le Barbu case study
« Reply #50 on: October 20, 2016, 11:33:58 AM »
PriestTheRunner, my personal expected spending level in FIRE is amasingly low, in the 15-20k$, combined with my wife, I would say 30-40k$ max. She needs a bit more luxury, my happiness comes from simplicity and hardship. Actually, I got plenty of time alone and what makes my day is heavy weigth training, hiking, cooking and being involved in my kids hockey teams. I also do the bike, car, and home maintenance.

My actual dilema is that I got enough money for my happiness level but the other members of the family need more to keep' up with the Jones a little bit. I can tell you we are still in a economic boom mood. People all around me (with average salary and in debt to the eyeball) are spending like crazy. No one talk about having a meal or a drink at home with friends anymore. That kind of event got to be held in fancy  restaurants. We got to be wise to deal with this without loosing face in front of peers. People hardly make difference between being cheap/poor and being money wise/smart.


Le Barbu

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  • Location: Québec
  • I really didn’t say everything I said - Y. B.
Re: Le Barbu case study
« Reply #51 on: October 20, 2016, 11:36:18 AM »
Nice and calm after 3 months of job loss.  I love it.  This is what happens with great planning and execution.

Plans worth nothing most of the time, planning and execution are the keys!!

TexasRunner

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Re: Le Barbu case study
« Reply #52 on: October 20, 2016, 11:56:26 AM »
PriestTheRunner, my personal expected spending level in FIRE is amasingly low, in the 15-20k$, combined with my wife, I would say 30-40k$ max.
...

I get the family thing.  My wife has always been frugal (I'm the slow one) but now it seems I may be outpacing her.

But with a combined cost of 40k annually, Aren't you FI by the time you would haed back to work...?  Especially if your wife keeps working and makes even more than your spending level, by 9 months from now your passive income easily reaches the 4% SWR.  I may be missing something though...

Maybe convince your wife to take a 4 week sabbatical and go on an extended trip and stay-cation to help her see that more isn't necessarily MORE.  Not to rush her into FI but to display that a lower spending level (for all of you) can be just as happy or happier than current.

If she enjoys work, five to ten years from now you guys are going to be easily set forever.  Maybe a sabbatical would help her realize that a few more years are all she really wants and would have less trouble committing to it.

Not to rush anything, just to help show that there are other (free-er) options.

:)

Le Barbu

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Re: Le Barbu case study
« Reply #53 on: October 20, 2016, 12:57:07 PM »
PriestTheRunner, my personal expected spending level in FIRE is amasingly low, in the 15-20k$, combined with my wife, I would say 30-40k$ max.
...

I get the family thing.  My wife has always been frugal (I'm the slow one) but now it seems I may be outpacing her.

But with a combined cost of 40k annually, Aren't you FI by the time you would haed back to work...?  Especially if your wife keeps working and makes even more than your spending level, by 9 months from now your passive income easily reaches the 4% SWR.  I may be missing something though...

Maybe convince your wife to take a 4 week sabbatical and go on an extended trip and stay-cation to help her see that more isn't necessarily MORE.  Not to rush her into FI but to display that a lower spending level (for all of you) can be just as happy or happier than current.

If she enjoys work, five to ten years from now you guys are going to be easily set forever.  Maybe a sabbatical would help her realize that a few more years are all she really wants and would have less trouble committing to it.

Not to rush anything, just to help show that there are other (free-er) options.

:)

I will definetly have a tougth about your comments. The real thing is that for the next 5-10 years, the spending rate allowing every member of the family to be happy would be in the 75k$ range (maybe more). This is about twice my wife's salary! With plenty of money, there would be request for new Iphones, Disney trips, fancy cloths, new cars SUVs, home improvements etc. Normal stuff for 90% of people around here. My plan for now is to let her work for a while and take the difference (maybe 20k$/year) from my savings to spend 50k$/year.

My wife is not as self directed as me. She is the kind who think you better work if you cannot afford luxuries that advertising tell us to buy/do. Her mother is lately widowed and I can see the pattern. Luxury cruise, new furniture, shopping everyday for clothes and deco etc. She looks unhappy tough :(

I know a lot of FI people in the 60 year old range wich are still working and racking 100k$ per year. They do not enjoy working but think that being home and free is bo-ring! Lack of imagination...