Budgeting and extra income

[daylatedollarshort]

We just saved any extra income.

 

[dunkelblau]

Those of you saying all toward FIRE: why did you choose that? Were you in a job you hated or disliked strongly?

If I were to spend any gravy, it would be toward renting (leasing) a second home somewhere warm and it would be less than a quarter of the gravy and relatively easy to undo (yearly lease).

I kept my graduate student standard of living for 25 years after finishing school and working full time. True I didn't like my job before I reached FI, but that wasn't the main reason. Right after I hired in we took several waves of layoffs, so I never had a budget or a plan to reach FI, just an urgent need to cover an expected loss of income.

In retrospect panic mode wasn't necessary as my employer slowly turned the corner and is now in a solid position. But no regrets, I certainly wouldn't want to trade places with another middle-aged engineer who partied hard early in life and now needs his paycheck.

 

[kaudrey]

We bought a cabin in the mountains 5 years ago....

Still plan to retire as originally planned in 11 years.

 

[someguy]

We bought a cabin in the mountains 5 years ago....

Still plan to retire as originally planned in 11 years.

I imagine if you had invested/saved the money for the cabin instead it would have cut your date down at least a year or two. Has it been worth it?

 

[hitnuggs]

Me and DW have applied this "extra" to the slush fund. We use it for home improvement and other items that aren't budgeted but we want. We also noted that saving the little extra would not really decrease the amount of time to get to FI significantly.


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