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Re: Hello
Old 03-17-2006, 01:33 PM   #21
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Join Date: Mar 2006
Posts: 91
Re: Hello

thanks all for making me feel so welcome.

well Lawrence, myself and my husband (he is 40 this year) have been saving hard. Both eager to get out of wage slavery. I think the short answer is that we spend significantly less than we earn, its the only way to do it. Dont have any debts except mortgage. I save over 50 % of my salary and my husband saves a large proportion of his. we have at the moment 100 k (GBP) cash and approx 120k equity in property, at present we are saving about 25k per year, with continuing to save and hopefully the equity in our property will go up another 100k that would mean we would have about 400k in 5 years time, if we could live off the intrest @ 5% (hence the 10 - 15 k living costs) i think it would be achievable.

Also we dont have any kids and dont want any either.

I should say that at the moment (mortgage payments and bills excluded) we probably live off about 12,000 at present, im not into fancy stuff, expensive gadgets etc or keeping up with the jonses. We are quite happy as long as we have the basics, food shelter and clothing, oh and gin and tonic money!

Clearly 400,000 is not megabucks and if we had to buy a property out of it we would have to continue working. Hence the alternative accomodation considerations.

oh and my husband has a pension of 70 k no longer paying into - i dont have any pensions.

What does everyone think?
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Re: Hello
Old 03-17-2006, 01:43 PM   #22
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Posts: 5,267
Re: Hello

ooooh, You're in England - or at least Great Britian (if you are in Whales or Scotland I don't want to offend), so you are using pounds, that's a lot more wealth that I thought (what, $1.50 per pound now?).

If you are English, let me just say, as a proud Irish American on St. Patty's day Give us back our land! Welcome!
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Re: Hello
Old 03-17-2006, 01:49 PM   #23
Recycles dryer sheets
Join Date: Mar 2006
Posts: 91
Re: Hello

hi lawrence - yes we live in manchester, england, happy st patricks day! i see you live in southern CA, lucky you, lovely weather, ive been to SD its lovely there.

well the exchange rate at the moment is about 1.70, 180 ish. so sometimes i suppose its almost possible to doule your money in dollars.

what do you think, is it enough?
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Re: Hello
Old 03-17-2006, 02:00 PM   #24
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Re: Hello

Originally Posted by Laurence
(if you are in Whales or Scotland I don't want to offend)
It's Claire, not Jonah (or plankton.. )
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Re: Hello
Old 03-17-2006, 03:04 PM   #25
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Location: Lou-evil
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Re: Hello

FIREcalc meet Claire, Claire meet FIREcalc....

"These walls are kind of funny. First you hate 'em, then you get used to 'em. Enough time passes, gets so you depend on them"
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Re: Hello
Old 03-18-2006, 12:05 PM   #26
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Posts: 42
Re: Hello

Hi Claire,
We are in the process of transitioning to ER on a boat in the Pacific Northwest. We’ve owned the boat for 6 years so we’re familiar with the boat's condition and layout. It’s 44’ in length but only has around 550 sq feet of living space. Living on a boat is not necessarily cheaper than on land. Depends on the type, size, and age of the boat and where you stay. You can spend a little or a lot depending on what you want. It is a great way to live and we’re having a great time. Having a small living space will simplify your life but a boat can take a lot more upkeep than an apartment and it can get expensive to hire people to work on it so you need to learn how to do most of the work yourself to keep you expenses down.
Many people do it so don’t get discouraged.
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