tag:blogger.com,1999:blog-6787157690355329112.post1038322618558361109..comments2024-03-13T08:03:38.906-07:00Comments on Frugal Freedom: Brainstorming AgainUnknownnoreply@blogger.comBlogger7125tag:blogger.com,1999:blog-6787157690355329112.post-24738189788341889852010-06-18T19:45:49.844-07:002010-06-18T19:45:49.844-07:00AlexK, I always thought I would have human depende...AlexK, I always thought I would have human dependents by now. Now it is for my animal dependents although I really should write it out. I just read today that a lady left her dog 20 mil or something like that. My pets won't get anything close to that. The rest is for nieces and nephews college funds. Hopefully I won't need it and I will be able to provide other support for my pets and relatives.Daizyhttps://www.blogger.com/profile/08075279944974601962noreply@blogger.comtag:blogger.com,1999:blog-6787157690355329112.post-53759167545360246762010-06-18T13:49:53.212-07:002010-06-18T13:49:53.212-07:00Daizy,
Why do you have life insurance? That is f...Daizy,<br /><br />Why do you have life insurance? That is for people who have (human) dependents.AlexKnoreply@blogger.comtag:blogger.com,1999:blog-6787157690355329112.post-10287362253929329692010-06-11T20:03:31.843-07:002010-06-11T20:03:31.843-07:00I know, I know. It would never work. I have to g...I know, I know. It would never work. I have to go through it all every month or so just to convince myself how miserable I would be if I quit too early.<br /><br />Dave, I kind of expect to go to part time after I tell them I want to quit, so they have time to hire someone. I couldn't pull it off until they knew I was leaving.<br /><br />Dot, yes that electric bill is low. Last month's bill was $50. Before that it was $40. But next month, well, probably $70. Averaging them all to $50 is a little too optimistic.<br /><br />Lizzie, I must say that I wouldn't be terribly sad if I got laid off. Not likely though with business picking up. I couldn't stand the embarrassment of really messing up. I would cave in and quit first.Daizyhttps://www.blogger.com/profile/08075279944974601962noreply@blogger.comtag:blogger.com,1999:blog-6787157690355329112.post-27794772476881901222010-06-11T07:01:40.381-07:002010-06-11T07:01:40.381-07:00How about really annnoy boss so that he sacks you ...How about really annnoy boss so that he sacks you and you can claim unemplyment benefit?<br />Okay, maybe not, but it was worth considering!Lizzie @ her homeworldhttps://www.blogger.com/profile/18257339462096688164noreply@blogger.comtag:blogger.com,1999:blog-6787157690355329112.post-32996552289790566512010-06-11T06:34:01.852-07:002010-06-11T06:34:01.852-07:00I absolutely believe that if you set your mind to ...I absolutely believe that if you set your mind to it anything is possible however, that is a REALLY tight budget. I live in Florida and can not believe that you can live in the desert during summer with only a $50.00 electric bill. I try not to run my AC much at all but to live in a mobile home in the middle of summer with no AC at 110 degrees seems unrealistic. And food at $40.00 a month? I do believe this is doable however it will require alot of work and a hugh learning curve for you to master it.<br />After all these sacrifices you still will not have an emergency fund, or a reliable source of investment income. <br />I have to agree that you should not voluntarily leave your job just yet.I would try the part time route or just find another job. <br />I was so high with excitement and pride when I paid off our mortgage two years ago I think my head was in the clouds! Then reality hit again and I realized although it was a great feeling to be debt free we still had a long way to go to generate income producing investments that would ensure true financial freedom. <br />I still need to work full time for about another couple of years. <br />I can only image how difficult it is to spend so many hours at a horrible job. I have a stress free wonderfully flexable job and still feel like a slave.Many many times a day I dream about leaving so I can have my freedom back! <br />Make sure your exit plan is well thought out and planned with several future options.Dotnoreply@blogger.comtag:blogger.com,1999:blog-6787157690355329112.post-29353821370339548092010-06-11T05:01:15.402-07:002010-06-11T05:01:15.402-07:00You answered your own question ["My best choi...You answered your own question ["My best choice....") here.<br /><br />You are going to have to pay off the mortgage before you can even consider retiring early. Your passive (rental) income seems too small and shaky to be relied upon to be your primary alternate source of income. Would you want to be late on your own bills because of your tenant who pays you late? That's no way to live.<br /><br />You need to build up good reserves of investments so they can generate a more steady source of income to supplement the shaky rental income.<br /><br />Is there any way you can switch to part-time work at your current place? This way, you can semi-retire and relieve some of the job stress while trying out your other possible jobs (hopefully less stressful ones). If that could help you add to your reserves, that would be helpful, too. It would delay a full retirement but make your life more enjoyable.<br /><br />I paid off my mortgage in 1998 (while still working full-time) then used the additional budget surplus to build up my investments reserves. It wasn't until 2001 when I switched to part-time work (still adding to my investments, just not as much) and remained that way for 7 years as I got my life back. I did not have any other wage income in those 7 years, however, but my investment income rose continued to rise.<br /><br />While it is good to plan for the possibility of losing your job, I do not think you are ready to <b>voluntarily</b> give it up.Davehttps://www.blogger.com/profile/05503978839912338538noreply@blogger.comtag:blogger.com,1999:blog-6787157690355329112.post-6164143723831217892010-06-10T20:23:00.454-07:002010-06-10T20:23:00.454-07:00I feel that way about 10 times a month. I do a bu...I feel that way about 10 times a month. I do a budget probably 4 times a week to see if I have enough. Try and coast through this bad time - get a tad closer to what you need and want - the next bad time is close enough to feel miserable about. Rinse, lather, repeat.Anonymousnoreply@blogger.com