Author Topic: 5 figures invested.  (Read 3777 times)

Big in Japan

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5 figures invested.
« on: August 15, 2016, 09:17:45 PM »
Last week, I hit 5 figures in my investment accounts! I know that's not much, but it's a real achievement for me. 18 months ago I started getting my shit together, and went from a negative 2k net worth to now over 20k positive. Reading MMM and the forum has kept me motivated and encouraged.

Now, on to six figures! Without raises I can hit it in about Jan 2021.

My real next goal, though, is to start consciously reducing my environmental impact. I acutely feel the effects of plastic and paper use living in a third-world country. That water bottle you used yesterday might be floating in the canal next week, or worse, burned on the street corner with other assorted trash. I should be leaving my adopted country a better, cleaner place, and I hope to do that.

rockeTree

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Re: 5 figures invested.
« Reply #1 on: August 16, 2016, 04:50:07 AM »
Awesome!


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MrRealEstate

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Re: 5 figures invested.
« Reply #2 on: August 16, 2016, 05:05:53 AM »
I've realized a pretty heavy correlation between frugality and environmental impact.

It is pretty obvious if you think about it. Buy less stuff, have less packaging and shopping bags to toss. I also know the capacity of my garbage cans so I can see how long it would take to fill up my 60 gallon waste service can if I didn't like having it empty for smell reasons/having the extra trash space if necessary.

TheAnonOne

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Re: 5 figures invested.
« Reply #3 on: August 16, 2016, 09:21:25 AM »
Good job!

What is your income and spending? It seems like you could move A LOT faster (potentially)! The sky's the limit!

LivlongnProsper

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Re: 5 figures invested.
« Reply #4 on: August 16, 2016, 09:35:58 AM »
Great job, it only gets easier from here.

big_slacker

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Re: 5 figures invested.
« Reply #5 on: August 16, 2016, 07:55:43 PM »
Congrats, nice work! It'll pile up faster than you think!

RE: Environmental impact I think that be mindful in one area of your life opens you up to looking at other areas where you've just been on societal default.

Big in Japan

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Re: 5 figures invested.
« Reply #6 on: August 16, 2016, 09:59:26 PM »
Good job!

What is your income and spending? It seems like you could move A LOT faster (potentially)! The sky's the limit!

After taxes and housing (paid by employer), I make about 30k.

Last year, I spent roughly 1200 / month, gave 275 / month, and saved 1100 / month. Not bad, but not fully Mustachian.

This year, I've set a budget in which I spend about 750 / month, give the same, and save 1500 / month. I've found this to be tight but I've stuck to it so far.

My future optimizations include: buying a motorbike for ~1500 USD to cut my monthly transportation. Based on discussions about depreciation and expenses with locals, that'll break even in less than a year, and save 70 dollars a month after that. I also gain freedom of movement which I consider a QOL improvement. I'm trying to figure out how to cut my electric bill because it's ridiculous right now [almost 100 USD some months]. Finally, the more I can cook for my girlfriend and myself, the more we can save on food and dates. I'm not tracking food expenses fully right now, but I know the number has to be ridiculous.

Long-term, I see the key to accumulating wealth as increasing my salary. That will either involve a postgraduate degree or career shift.

TheAnonOne

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Re: 5 figures invested.
« Reply #7 on: August 17, 2016, 10:20:22 AM »
Good job!

What is your income and spending? It seems like you could move A LOT faster (potentially)! The sky's the limit!

After taxes and housing (paid by employer), I make about 30k.

Last year, I spent roughly 1200 / month, gave 275 / month, and saved 1100 / month. Not bad, but not fully Mustachian.

This year, I've set a budget in which I spend about 750 / month, give the same, and save 1500 / month. I've found this to be tight but I've stuck to it so far.

My future optimizations include: buying a motorbike for ~1500 USD to cut my monthly transportation. Based on discussions about depreciation and expenses with locals, that'll break even in less than a year, and save 70 dollars a month after that. I also gain freedom of movement which I consider a QOL improvement. I'm trying to figure out how to cut my electric bill because it's ridiculous right now [almost 100 USD some months]. Finally, the more I can cook for my girlfriend and myself, the more we can save on food and dates. I'm not tracking food expenses fully right now, but I know the number has to be ridiculous.

Long-term, I see the key to accumulating wealth as increasing my salary. That will either involve a postgraduate degree or career shift.

Wow, is this a religious thing? It seems pretty high for someone with your salary but around 10% which is inline with the whole tithe thing.

Can't help but commend the giving though, I feel like a scrooge in comparison!

Big in Japan

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Re: 5 figures invested.
« Reply #8 on: August 17, 2016, 10:47:32 AM »
Wow, is this a religious thing? It seems pretty high for someone with your salary but around 10% which is inline with the whole tithe thing.

Can't help but commend the giving though, I feel like a scrooge in comparison!

It's a combination of factors, but yes, the money is going to my local church. I split the money 50/50 between the general "keep the church running" fund and their outreach (orphanages, etc.).

$900 / month is considered a very good salary here, so I am extremely lucky and wealthy compared to so many around me to be making almost 3x that. I believe it would be morally wrong not to give back some way in these circumstances, and I'd still feel that way if I became convinced God doesn't exist.

Additionally, I really value what the Anglican tradition has given me as an adult and I want to actively support and share that with others.

As far as FI/RE, I know it slows me down a little, but it's a choice I'm happy to make.

Lonely Artisan

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Re: 5 figures invested.
« Reply #9 on: August 17, 2016, 08:47:19 PM »
+1
my hat off to you good sir. You represent some of the best qualities found in men

Bumperpuff

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Re: 5 figures invested.
« Reply #10 on: August 18, 2016, 03:40:43 PM »
$900 / month is considered a very good salary here, so I am extremely lucky and wealthy compared to so many around me to be making almost 3x that.

First off, congratulations on having a 40% savings rate while giving 10% to charity.  You should examine your expenses pretty closely, maybe even post a case study.  Minus housing costs, I live off  $900-1000/month in a relatively HCOL area of the US.  If the locals can live off 1/3rd of your income then there's definitely room for further savings.

I lived in Ethiopia for a few years.  From that experience, I'm willing to guess that you're trying to eat the same things you did in your home country.  If so, I can hardly fault you for that, if not then ignore everything to come. If you start eating more like the locals, learn to cook, and modify recipes to make the most of local ingredients you could potentially save a huge sum of money each month.  If you're successful, the hardest part will be when you go to your home country and miss the foods you've become used to.

Big in Japan

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Re: 5 figures invested.
« Reply #11 on: August 22, 2016, 12:08:43 AM »
First off, congratulations on having a 40% savings rate while giving 10% to charity.  You should examine your expenses pretty closely, maybe even post a case study.  Minus housing costs, I live off  $900-1000/month in a relatively HCOL area of the US.  If the locals can live off 1/3rd of your income then there's definitely room for further savings.

I lived in Ethiopia for a few years.  From that experience, I'm willing to guess that you're trying to eat the same things you did in your home country.  If so, I can hardly fault you for that, if not then ignore everything to come. If you start eating more like the locals, learn to cook, and modify recipes to make the most of local ingredients you could potentially save a huge sum of money each month.  If you're successful, the hardest part will be when you go to your home country and miss the foods you've become used to.

Thanks for the comment.

Actually, I do eat local food the majority of the time, but I rarely cook, so I'm quite often eating out at restaurants for $4-$8 per meal. The fact that eating out is incredibly cheap compared to America blinded me at first to how much I was still paying. The first year here was a stressful transition and so I also fell into the trap of "I deserve to relax and eat out".

Like I said, it's a big area where I know I can improve my spending. I just have to start learning how to cook well and exercising that "muscle". My girlfriend's encouragement to cook for her is helping and making this change feel achievable.

I may post a case study - that seems like a good idea!

+1
my hat off to you good sir. You represent some of the best qualities found in men

Thanks - I'm definitely not worthy of a compliment like that.