tag:blogger.com,1999:blog-2875915890415125655.post625854891215774581..comments2023-05-18T10:37:34.608+01:00Comments on <a href="http://www.retirementinvestingtoday.com">Retirement Investing Today</a>: It’s All About Living Well Below Your MeansRetirementInvestingTodayhttp://www.blogger.com/profile/03088383743670046657noreply@blogger.comBlogger15125tag:blogger.com,1999:blog-2875915890415125655.post-63050785092195500002014-11-29T14:06:35.043+00:002014-11-29T14:06:35.043+00:00Hi,
I'm Huw from Financiallyfreebyforty.
I ...Hi,<br /><br />I'm Huw from Financiallyfreebyforty. <br /><br />I back RIT's example here, whilst acknowledging the readers point. There are some differences, but I believe that if I were to become single I could still save more than 50%. I would need to relocate/downsize, as housing would be my biggest expense, but I would review other areas to make up the difference.<br />I earn around Huwhttp://financiallyfreebyforty.blogspot.co.uk/noreply@blogger.comtag:blogger.com,1999:blog-2875915890415125655.post-56850537726107904862014-11-27T00:10:55.781+00:002014-11-27T00:10:55.781+00:00Ok, if you asked ...
1 Oh beautiful 25 year old J...Ok, if you asked ...<br /><br />1 Oh beautiful 25 year old Jane. I imagine you running to a party laughing with your friends in a short light dress.. your sexy slender legs..... boys, love, cocktails, travel and your tears... dumping your last money on designed bag - this is so London youth ...<br /><br />2. Fine. Some think that working life is hell as it is, and some think it is just life as Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2875915890415125655.post-10167220566782780302014-11-26T23:27:58.935+00:002014-11-26T23:27:58.935+00:00Hi Snuffleupagus,
This is impressive.
I hope in ...Hi Snuffleupagus,<br /><br />This is impressive. <br />I hope in your 20th you experienced and went through it all - love, parties, travel, drama and misery. If so, I can only envy you. <br /><br />K.<br />Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2875915890415125655.post-26192104086337573942014-11-26T12:43:35.910+00:002014-11-26T12:43:35.910+00:00Get on your bike. Or get a job closer to home. T...Get on your bike. Or get a job closer to home. There's little point fannying about trying to minimise taxes and charges on investments if one sixth of your net income is leaking into "work related expenses".deariemenoreply@blogger.comtag:blogger.com,1999:blog-2875915890415125655.post-17997618292186590812014-11-26T08:59:01.051+00:002014-11-26T08:59:01.051+00:00The house is shared but there is definitely only r...The house is shared but there is definitely only room for one in my room!<br /><br />Once I am done in London I am off to somewhere with lower living costs (probably with more generous facilities). I have lived in shared housing most of my life so I am quite happy sharing a house and see no need to change this.<br /><br />As long as you know what you want for your future you can adjust your Snuffleupagusnoreply@blogger.comtag:blogger.com,1999:blog-2875915890415125655.post-57722320013821236042014-11-26T08:02:42.595+00:002014-11-26T08:02:42.595+00:00So does your financial independence plan involve s...So does your financial independence plan involve sharing a box room for the rest of your life?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2875915890415125655.post-46879270803995690962014-11-26T06:48:29.877+00:002014-11-26T06:48:29.877+00:00Hi K(?),
As a single 36 year old male living in L...Hi K(?),<br /><br />As a single 36 year old male living in London I live on total expenses of about £85-£90 per week so living on less than £200 a week is pretty easy for me.<br /><br />I walk to work and rent a small box room in a shared house. Admittedly I hardly ever have entertainment expenses but I am ok with this especially as I am due to reach my FI goal in April. <br />snuffleupagusnoreply@blogger.comtag:blogger.com,1999:blog-2875915890415125655.post-38237229787045737072014-11-25T14:22:50.670+00:002014-11-25T14:22:50.670+00:00Huw your 32 year old married example to average Ja...Huw your 32 year old married example to average Jane seems to have a number of advantages she doesn't have:<br /><br />- someone to share the bills with<br />- equity in a house he owns<br />- access to a cheap mortgage on the part of the house he doesn't ownAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-2875915890415125655.post-20954247332088114022014-11-24T21:44:59.966+00:002014-11-24T21:44:59.966+00:00It’s important for Jane to not get hung up on the ...It’s important for Jane to not get hung up on the c£10k but instead firstly focus on what in life is really important to her. She can then concentrate on only paying for that (plus with time learning how to minimise even that cost) and avoid spending on the rest. Only by looking at it this way will life be maximised for minimal cost. For example you’ve immediately assumed she’s a single person RetirementInvestingTodayhttps://www.blogger.com/profile/03088383743670046657noreply@blogger.comtag:blogger.com,1999:blog-2875915890415125655.post-46853102951096940852014-11-24T15:33:04.149+00:002014-11-24T15:33:04.149+00:00I wouldn't have thought that this is that unus...I wouldn't have thought that this is that unusual. Take the average UK wage for £26,500. If somone contributes 7% to their pension and paying back a student loan, then net income is £18,600. This equates to £1,550 per month take home pay, so 15% of that would be about £230 a month. <br /><br />Just on transport, some people pay that. London Zone 1-6 train pass for example is currently £220 moneystepperhttp://moneystepper.comnoreply@blogger.comtag:blogger.com,1999:blog-2875915890415125655.post-51663380037020724602014-11-24T10:40:14.319+00:002014-11-24T10:40:14.319+00:00You seem to be missing some details in your Scenar...You seem to be missing some details in your Scenario 3 "early retirement" scenario<br /><br />For "Average Jane" to be saving 50% of her gross income she needs to live on c.£10k a year or £200 per week, including rent and council tax<br /><br />Do you actually think thats possible for a single person?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2875915890415125655.post-63353969956174822402014-11-23T22:35:52.965+00:002014-11-23T22:35:52.965+00:00Hi K.
As always thanks for your thoughts. While ...Hi K.<br /><br />As always thanks for your thoughts. While the starting age and numbers are different to my own journey the principles being followed are the same. Let me therefore reply to each objection with my own experience 7 years in.<br /><br />1. I agree once she is 35 there is no way to become 25 again as time waits for no-one. Has Jane done anything she'll regret though? To save RetirementInvestingTodayhttps://www.blogger.com/profile/03088383743670046657noreply@blogger.comtag:blogger.com,1999:blog-2875915890415125655.post-29280568882565699572014-11-23T21:29:27.216+00:002014-11-23T21:29:27.216+00:00The theory sounds enticing. But as usual I put my ...The theory sounds enticing. But as usual I put my objections here:<br /><br />- once she is 35, there is no way to become 25 again<br /><br />- what you do between 25 and 25 often defines how financially independent you are in your professional life. Meaning an experienced professional is highly valued, so this provides to a degree of financial independance, doesn't it?<br /><br />- i think Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2875915890415125655.post-14822375556955244812014-11-22T21:33:26.544+00:002014-11-22T21:33:26.544+00:00Hi dearieme
There are 2 sides to the equation:
- ...Hi dearieme<br /><br />There are 2 sides to the equation:<br />- Side 1 is the numerator of the equation. Work expenses are our 2nd highest spend category after rent. The major work related expenses are predominantly transport related. To maximise our savings I need to work a long way from home and when I say a long way think many hundreds of miles on the road a week. Even though I have a RetirementInvestingTodayhttps://www.blogger.com/profile/03088383743670046657noreply@blogger.comtag:blogger.com,1999:blog-2875915890415125655.post-92199350381007172172014-11-22T20:57:01.860+00:002014-11-22T20:57:01.860+00:00"as a family unit we spend between 15 to 17% ..."as a family unit we spend between 15 to 17% of our monthly net earnings on work related expenses." Jesus wept: how?deariemenoreply@blogger.com