Author Topic: Reached FI in 9 years, aged 32 with 2 kids. Yes it#s possible in Europe as well! (Read 9013 times)

whatlifecouldbe · « **on:** January 28, 2016, 06:19:00 AM »

We're a scottish-hungarian couple and we came to Germany in 2005. We started investing in real estate and started a mostly passive online business. End of 2015 we realised we don't actually have to work anymore, forever.

Looking forward to your comments! And if you're in Europe, check out our mustachian meetups (FIWE)!

Mr W

arebelspy · « **Reply #1 on:** January 28, 2016, 06:46:15 AM »

Congrats! Pretty awesome what you've built.

FI can definitely be done in most any circumstance. Glad to see a post with two of the major common complaints (kids, high COL area) overcome!

andystkilda · « **Reply #2 on:** January 28, 2016, 03:58:07 PM »

Quote from: whatlifecouldbe on January 28, 2016, 06:19:00 AM

...We started investing in real estate and started a mostly passive online business...

Can you give more detail on the online businesses you've been involved in?

expatartist · « **Reply #3 on:** January 28, 2016, 04:54:34 PM »

This is inspiring! EU residents complain about high taxes, but you've managed very well. We will end up in the EU eventually, possibly Berlin as a base for 5+ years, and I'm looking at running a drop shipping business for remote income. I have a couple of questions for you:

* In what country is your business registered?
* Any advice about German real estate? RE pros I've met complain it's not profitable there.

Thanks!

Mr.Tako · « **Reply #4 on:** January 28, 2016, 06:01:12 PM »

Great story! It seems like the real estate prices have shot up in your area. Where are you investing now?

JLR · « **Reply #5 on:** January 28, 2016, 06:37:52 PM »

I would love to know more details about how you managed to do this.

arebelspy · « **Reply #6 on:** January 29, 2016, 12:44:47 AM »

Quote from: JLR on January 28, 2016, 06:37:52 PM

I would love to know more details about how you managed to do this.

Did you check out the blog in their signature?

WerKater · « **Reply #7 on:** January 30, 2016, 06:34:49 AM »

Quote from: expatartist on January 28, 2016, 04:54:34 PM

* Any advice about German real estate? RE pros I've met complain it's not profitable there.
Thanks!

Seconded! I would like to diversify myself by investing in real estate (in Germany; I live in Tübingen, by the way), but so far I have come up completely empty in my search for profitable properties (of course, I am certainly not a pro).
Whatlifecouldbe, would you be willing to share some more details on your properties? I found the generalities on your blog, but unless I missed it, there was no or little information about numbers like: prices, rents, money spent on upkeep and so on. I would be really interested in those details!

Oh and: Thanks for posting here. I will probably start reading your whole blog today!

whatlifecouldbe · « **Reply #8 on:** January 31, 2016, 05:01:12 AM »

Quote from: andystkilda on January 28, 2016, 03:58:07 PM

Can you give more detail on the online businesses you've been involved in?

Hi there,
it's a portal that has a job board and lots of information and forum for my audience. When I started it I didn't care who else is doing similar things. There are a million job boards out there. Still, I knew that relevant information will attract people. I've built up several facebook pages (about half are purley job related) and also have big newsletter list. So all these things help echother and just keep growing. Never paid for ads until recently. Just started doing facebook ads to do something with the money.
People can post for free as well (jobs, informationa bot own businesses), so the page grows organicly. That automates it a lot. As the number of visitors started growing, companies started approaching me and wanted to have banners in specific sections. So, the main thing I've learned si what so many antreprenours said before me: "build it and they will come"

whatlifecouldbe · « **Reply #9 on:** January 31, 2016, 05:12:18 AM »

Quote from: expatartist on January 28, 2016, 04:54:34 PM

This is inspiring! EU residents complain about high taxes, but you've managed very well. We will end up in the EU eventually, possibly Berlin as a base for 5+ years, and I'm looking at running a drop shipping business for remote income. I have a couple of questions for you:

* In what country is your business registered?
* Any advice about German real estate? RE pros I've met complain it's not profitable there.

Thanks!

Hi there. Thank you for your words.
The thing about german taxes: we have a prograssive income tax rate from 0 to 43%. Looks a lot. And you can reach 43% quite soon. BUT Every person ahs a tax free income of about 8500€. Every child has 7500€ tax free. If you have rental real estate, you can put some money against your tax from the purchase price. Since we have 2 kids and we can put about 8500€ against our tax for the RE purchase price, we can earn roughly 40.000 a year without being taxed AT ALL.So, how was it again with "taxes are so high in Germany"? :)))))

Our expenses (including EVERYTHING is about 30K). Which let's us put (virtually) at least 10K each year aside and pay still no tax. Without breaking any law or using ANY trick.
I wrote a post about tax issues, I have to publish it soon.

We LOVE this country and are very happy to be here.

My business is registered here in Germany.

"* Any advice about German real estate? RE pros I've met complain it's not profitable there."

Well, we bough our REs some years before and we looked a lot to find good deals. It is increasingly difficult now bit I belive you can still find good deals. I just interviewed a guy (Ankur) in my blog who bought many flats/houses (recently as well ) in Munich. And Munich is insanely expensive. Still he just quit his job and is FI now. With only real estate. So...go ahead and ask HIM in the comments. I think he can give you more details.
My advice: RE is ONE of the things you should do and ONLY if it makes sense financially. Just for the sake of it...NO. I don't belive that RE is the holy grail of investments. It's a good pillar though.

whatlifecouldbe · « **Reply #10 on:** January 31, 2016, 05:13:34 AM »

Quote from: Mr.Tako on January 28, 2016, 06:01:12 PM

Great story! It seems like the real estate prices have shot up in your area. Where are you investing now?

That is very true. We don't plan in investing in Re anymore. That migh change if we find a good deal.
I am going to wait for the next crash and invest in index funds ETFs. Once I understood how it's best done in Germany. Still have to learn.

whatlifecouldbe · « **Reply #11 on:** January 31, 2016, 05:16:09 AM »

Quote from: WerKater on January 30, 2016, 06:34:49 AM

Quote from: expatartist on January 28, 2016, 04:54:34 PM
* Any advice about German real estate? RE pros I've met complain it's not profitable there.
Thanks!
Seconded! I would like to diversify myself by investing in real estate (in Germany; I live in Tübingen, by the way), but so far I have come up completely empty in my search for profitable properties (of course, I am certainly not a pro).
Whatlifecouldbe, would you be willing to share some more details on your properties? I found the generalities on your blog, but unless I missed it, there was no or little information about numbers like: prices, rents, money spent on upkeep and so on. I would be really interested in those details!

Oh and: Thanks for posting here. I will probably start reading your whole blog today!

Hi "WerKater" I haven't decided yet how much detail I will share publicly abotu RE but, since you are close, keep an eye on our Facebook account since we're going to organise a mustachian meetup in Stuttgart sometime in the next couple of months. I will share more details privately after a few beers :)

WerKater · « **Reply #12 on:** January 31, 2016, 05:48:48 AM »

Quote from: whatlifecouldbe on January 31, 2016, 05:16:09 AM

Quote from: WerKater on January 30, 2016, 06:34:49 AM
Quote from: expatartist on January 28, 2016, 04:54:34 PM
* Any advice about German real estate? RE pros I've met complain it's not profitable there.
Thanks!
Seconded! I would like to diversify myself by investing in real estate (in Germany; I live in Tübingen, by the way), but so far I have come up completely empty in my search for profitable properties (of course, I am certainly not a pro).
Whatlifecouldbe, would you be willing to share some more details on your properties? I found the generalities on your blog, but unless I missed it, there was no or little information about numbers like: prices, rents, money spent on upkeep and so on. I would be really interested in those details!

Oh and: Thanks for posting here. I will probably start reading your whole blog today!

Hi "WerKater" I haven't decided yet how much detail I will share publicly abotu RE but, since you are close, keep an eye on our Facebook account since we're going to organise a mustachian meetup in Stuttgart sometime in the next couple of months. I will share more details privately after a few beers :)

Cool, I will! And since you mentioned that you want to learn more about index investing, I'll gladly reciprocate by telling you all I know about that.

Squirrel away · « **Reply #13 on:** January 31, 2016, 06:51:11 AM »

Wow, good for you. Well done to both of you.:)

Squirrel away · « **Reply #14 on:** January 31, 2016, 06:54:28 AM »

Haha, I just read the bit about taking over as caretaker for your building, good idea!

whatlifecouldbe · « **Reply #15 on:** January 31, 2016, 07:59:52 AM »

Quote from: Londoner38 on January 31, 2016, 06:54:28 AM

Haha, I just read the bit about taking over as caretaker for your building, good idea!

hehe, thanks.
Just take commuting out of the ecuation and your hourly rate skyrockets. That simple.

dachs · « **Reply #16 on:** January 31, 2016, 08:41:08 AM »

Very cool!!! I live in Germany as well and also want to FIRE with kids ;)

whatlifecouldbe · « **Reply #17 on:** January 31, 2016, 08:48:26 AM »

Quote from: dachs on January 31, 2016, 08:41:08 AM

Very cool!!! I live in Germany as well and also want to FIRE with kids ;)

where about are you?

dachs · « **Reply #18 on:** January 31, 2016, 01:19:58 PM »

Cologne area. Well I don't have children yet (not even married) but I mean that's the plan so not to have kids in order to be able to FIRE earlier is not an option for me.

whatlifecouldbe · « **Reply #19 on:** January 31, 2016, 01:22:36 PM »

Hi dachs! It makes sense to put your priorities in that order. I mean...would make no point in reaching FI and then realise you're old and nobody wants a kid from you :)

JLR · « **Reply #20 on:** January 31, 2016, 07:39:21 PM »

Quote from: arebelspy on January 29, 2016, 12:44:47 AM

Quote from: JLR on January 28, 2016, 06:37:52 PM
I would love to know more details about how you managed to do this.

Did you check out the blog in their signature?

Thanks for the heads up, ARS. I'm so used to tuning out sigs as I read forums (so many contain advertising), but it seems I might be missing some good stuff, too! :)

happy · « **Reply #21 on:** February 01, 2016, 03:46:11 AM »

Congratulations whatlifecould be…off to check out your blog

whatlifecouldbe · « **Reply #22 on:** March 01, 2017, 04:07:31 PM »

BTW...
We just opened FIWE 2017 (Financial Independence Week Europe) for applications (Deadline 1st May 2017).
It's going to happen between 15th-21st Sept 2017 (Timisoara, Romania)
All details here: http://whatlifecouldbe.eu/fiwe/

Haselbacher · « **Reply #23 on:** March 01, 2017, 08:54:04 PM »

This is great! If I ever move back to Europe, I will attend.

rg422 · « **Reply #24 on:** March 02, 2017, 09:31:01 AM »

Wow. Congrats on achieving FI at such a young age. Enjoy!!

Lyssa · « **Reply #25 on:** March 02, 2017, 11:38:29 AM »

Congratulations! Well done indeed!

I also try to make it to the meetup. Thanks for organizing it.

Metric Mouse · « **Reply #26 on:** March 02, 2017, 07:49:45 PM »

Awesome work!

tj · « **Reply #27 on:** March 03, 2017, 08:59:11 PM »

Quote from: whatlifecouldbe on January 31, 2016, 05:13:34 AM

Quote from: Mr.Tako on January 28, 2016, 06:01:12 PM
Great story! It seems like the real estate prices have shot up in your area. Where are you investing now?

That is very true. We don't plan in investing in Re anymore. That migh change if we find a good deal.
I am going to wait for the next crash and invest in index funds ETFs. Once I understood how it's best done in Germany. Still have to learn.

Vanguard Germany might be a good place to start. Assuming the funds there are in the Euro currency.

https://global.vanguard.com/portal/site/kiids/de/de/documents

stashgrower · « **Reply #28 on:** March 03, 2017, 11:16:50 PM »

Congratulations :D

News:

Author Topic: Reached FI in 9 years, aged 32 with 2 kids. Yes it#s possible in Europe as well! (Read 9013 times)