soupcxan/blogging/congrats/good luck

[dex]

soupcxan,
I just read your bloger(?) page. Congratulations on your focus at such an early age. (I am 49). If I was as directed as you at your age I think I would have much more money than I do now and be retired.

I didn't like the concept of bloggin (?). It appeared to be so much verbal masterbation. Yours is well thought out.
I have two suggestions:
1. I didn't see a current budget on your site.
2. An asset growth by catagory to get to your goal - this is your roadmap
3. It might also be helpful to have a projected retirement budget on your site and update it as you learn about investing and how you want to live.
4. How you are going to enjoy life now as you work towards retireing early.
As a personal note. I have seen people die (for one reason or another) throughout my life. We always think it will be the other guy who dies of a car accident or cancer at 30. But it can be us. So include some life experiences in you plan. It will also help you grow and figure out what you enjoy and what you want to do in your retirement.
Good luck

 

[John Galt]

Hello dex! Excellent questions re. the soupxcan blog.
One thing caught my eye "we always think it will be
the other guy who dies". In my case (mild hypochondria) I always think it will be me. I've been
wrong so far Anyway, at 49, when I "semi ERed"
I was totally unprepared in terms of budget and planning. I really admire all the younger folks on
this site who have such a big head start, and I admire them even more for recognizing the need. I'm a
pretty smart guy and I was oblivious for a very long time.

John Galt

 

[dex]

Anyway, at 49, when I "semi ERed"
I was totally unprepared in terms of budget and planning.  I really admire all the younger folks on
this site who have such a big head start, and I admire them even more for recognizing the need.  I'm a
pretty smart guy and I was oblivious for a very long time.

John Galt

John,
It is amazing that sometimes things are right in front of your face and you don't make the connection.
I'm thinking about using Microsoft products in the late 80's and 90's and the thought not even crossing my mind to look into the stock or looking to work there. I didn't have a clue and people tell me I'm smart. I just think there are a lot of dumb people around me.
Isn't that just amazing!

 

[soupcxan]

Thanks for the tips. The website is still coming together, I do need to add a budget (income statement) and some more details...long term plans/goals would be good but right now I can't even say that I'm aiming for a particular dollar value, I just want to live a reasonable life while saving as much as I can.

 

[panhead]

Hey soupcxan,
I just checked out the page as well. Quite cool, you're very organized. I'm 34 and not as well organized as you at all. I've worked out the budgets and necessary expenses for retirement, but never a personal balance sheet listing all assets like that, just liquid invested assets. Pretty cool.
We're in the same boat, I don't know what I will change when and if I achieve the # that lets me walk. Maybe everything, maybe nothing. It's the option I'm after, it's probably the closest thing to real freedom we can hope for, other than moving into the woods and living off the land, but then, that's work !

Congrats, I look forward to your posts/progress updates
-Pan-

 

[John Galt]

Hello panhead! I'm glad soupxcan is on board.
Always nice to add some new blood , especially if they
are deep thinkers.

I just rolled home from a long weekend of biking.
Rode up through Wisconsin and along the Miississippi
and then wound our way back home through the hills
and farms. Weather was beautiful. Very nice trip, our
second this year and both were close to perfect
weather-wise and otherwise.

John Galt

 

[haha]

I copied this from the blog being discussed:

"The chart above is a pivot table of the interest rates my bonds are earning and the amount invested at each rate. The real dog of the bunch is the bond at 2.8%, which isn't even one of the I-bonds; rather, it's a series EE bond that I bought because I had already reached my $30k annual limit for I-bond purchases. As an EE series bond, the interest rate was set at the time of purchase and won't ever change."

The part about EE bond interest being fixed at 2.8% must be an error. All EE bonds sold since May 1, 1997 pay interst at a rate which floats as 90% of the average yield of 5 year T bonds over the previous 6 month period. Prior to 1997 there were several schemes, but none of them would lock you into a low fixed rate. Mostly, these bonds have a guaranteed minimum, or float at some contractual % of an index market rate.

BTW, you have done some serious saving for a 22 yo guy who just got his first professional job. Also, I like your idea to achieve financial independence, but not necessarily to retire. I think to plan to withdraw from one of life's main activies-work- when one is very young might not be the best thing for long term happiness. I believe this could be true even it worked out well enough financially.

Mikey

 

[soupcxan]

Whoops, you're right about the rate on the EE bonds...guess that shows you how much attention I've paid to them.

 

[cute fuzzy bunny]

Yep...EE's will make you pretty happy if rates rise and inflation stays relatively tame. About the inverse of the ibond, which will make you happy if inflation rises and rates stay low.