thatgirlmjl
Dryer sheet wannabe
Hello, FIRE fellows!
I'm a 26 year old young woman teaching kindergarten in the UAE. I work for the government and teach at a public school here. I live on a tiny little island in the Arabian gulf and go into the city once a month to stock up on groceries and visit with friends.
I spent 2010-Spring 2011 in Korea teaching at a private school. It was a stressful job with incredibly long hours, but I managed to pay off my consumer debt and start my new life in the UAE debt-free and loving it!
I've been on this little island for four months now. The education council provides my housing and pays for my car rental. Utilities are subsidized by the government and average $15 USD per month for both water and electricity. I'm making $3500 USD per month in wages. There is no taxation in the UAE and I pay NO US taxes. It is grand!
I am saving $2500 to $3000 USD per month.
This is only my 2nd year teaching so this opportunity is great for my teaching career and will help my chances of landing a decent teaching position when I decide to return to America. It is also financially beneficial.
I am debt-free and beginning to save a nest egg. I am fortunate to have no student loans. While friends have squandered savings on expensive partying in the city, I've netted 7k free and clear.
Here's my financial breakdown as of today:
$1000--12 month fixed-rate CD (with USAA)
$1000--9 month fixed-rate CD (with USAA)
$2000--savings account (through USAA)
$3000--checking account (local bank)
$500--Vanguard Roth IRA (100% invested in VFINX)
Unfortunately, I am not allowed to make contributions to my Roth IRA while I am working overseas because the money is not taxed in the USA.
My employment contract is for 2 years. The first year is probational, of course, but I am in very good graces with my bosses and their bosses thus far. I am doing my best to keep it this way.
I am single, no children, and have no plans to marry, or have children any time within the next five years. This is the time for me to build my assets.
My immediate goal is to have $10,000 in savings by the end of December. By August of 2012, I will have $25,000 in savings and investments. Basically, $50k by August 2013.
It has been recommended to me that I establish an emergency savings fund. I feel that 10k is a good amount for me to keep aside. I will meet this goal by January and can move on to investing.
I'd like to start investing for retirement after the first of the year...probably by February. I've been advised to look into the Vanguard Total Stock Market Index and also, the Vanguard Target Retirement funds.
Very happy to have found this forum. Looking forward to learning from you all!
I'm a 26 year old young woman teaching kindergarten in the UAE. I work for the government and teach at a public school here. I live on a tiny little island in the Arabian gulf and go into the city once a month to stock up on groceries and visit with friends.
I spent 2010-Spring 2011 in Korea teaching at a private school. It was a stressful job with incredibly long hours, but I managed to pay off my consumer debt and start my new life in the UAE debt-free and loving it!
I've been on this little island for four months now. The education council provides my housing and pays for my car rental. Utilities are subsidized by the government and average $15 USD per month for both water and electricity. I'm making $3500 USD per month in wages. There is no taxation in the UAE and I pay NO US taxes. It is grand!
I am saving $2500 to $3000 USD per month.
This is only my 2nd year teaching so this opportunity is great for my teaching career and will help my chances of landing a decent teaching position when I decide to return to America. It is also financially beneficial.
I am debt-free and beginning to save a nest egg. I am fortunate to have no student loans. While friends have squandered savings on expensive partying in the city, I've netted 7k free and clear.
Here's my financial breakdown as of today:
$1000--12 month fixed-rate CD (with USAA)
$1000--9 month fixed-rate CD (with USAA)
$2000--savings account (through USAA)
$3000--checking account (local bank)
$500--Vanguard Roth IRA (100% invested in VFINX)
Unfortunately, I am not allowed to make contributions to my Roth IRA while I am working overseas because the money is not taxed in the USA.
My employment contract is for 2 years. The first year is probational, of course, but I am in very good graces with my bosses and their bosses thus far. I am doing my best to keep it this way.
I am single, no children, and have no plans to marry, or have children any time within the next five years. This is the time for me to build my assets.
My immediate goal is to have $10,000 in savings by the end of December. By August of 2012, I will have $25,000 in savings and investments. Basically, $50k by August 2013.
It has been recommended to me that I establish an emergency savings fund. I feel that 10k is a good amount for me to keep aside. I will meet this goal by January and can move on to investing.
I'd like to start investing for retirement after the first of the year...probably by February. I've been advised to look into the Vanguard Total Stock Market Index and also, the Vanguard Target Retirement funds.
Very happy to have found this forum. Looking forward to learning from you all!