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That was fast

February 23rd, 2014 at 09:19 pm

Time keeps zooming by too quickly for my taste. A few updates:

1. Big change in living arrangement which resulted in zero food bill but increased utility bill.

2. Working on cutting down my wardrobe to around 30 pieces or so and replacing synthetic fabric with natural ones. I've increase the price point to around $80 for now and will increase it to around $200 once I can stabilize my weight. This year budget is $2,000 for replacing wardrobe.

3. Got a hefty raise and decent bonus, but no promotion. I suppose 2 promotions in less than 2 years with zero initial experience is a bit too much to ask for.

4. Spent a lot of time crunching the numbers to see if I can retire by 60 with 600k in the banks and 3 paid off townhouses. It's do able with steady employment and a 3% annual raise, but then what? Would I have enough time and energy left to take things easy and simply enjoy? So the numbers have been revised to retire at 45 to 50 with 1 paid off townhouse and 450k to 700k in the bank.

5. Embracing the minimalist movement.

4 Responses to “That was fast”

  1. snafu Says:

    Congratulations on two raises and bonus. What is driving the desire to embrace minimalism? How does your February 2014 financial statement compare with it's 2013 picture?

  2. PatientSaver Says:

    I don't think $450K would be enough to retire on at age 45 to 50 and $700K would probably do it, but only in a fairly modest lifestyle.

  3. PatientSaver Says:

    I don't think $450K would be enough to retire on at age 45 to 50 and $700K might not even be enough, IMHO. Unless you were willing to live a very frugal lifestyle for the rest of your days.

  4. Firstofmanysteps Says:

    Thanks snafu. It'll take a very long time for me to explain but in short, I'm just sick of this culture of consumption. I posted Feb's numbers. It's a bit different than last year so it's hard to compare.

    Patientsaver,

    I also think $450k is stretching it a bit, but with my lifestyle as well as all the things I plan to do myself, it should be doable.

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