4 ms·

Your plan needs the nest egg + house paid off. I will have 150k USD(100k GBP) by the time I'm 26 but no house. so i doubt I could survive a decade on it.

• scarmig 14y ago
  Nope, it doesn't. A single person can very easily live on $15kpa. Even in the Bay Area. I've been doing it for 3 years, in fact, at $12-$16kpa. It probably does mean having housemates and being careful about where you choose to live, but it's imminently doable.
  • femto 14y ago
    As you're alluding, half the battle with knowing when it is "safe" to hop off the treadmill is having a very good idea of your expenses. About 10 years ago, I spent a year or so recording how I spent my money to the cent. I found that it delivered a lot of freedom, even if I didn't live frugally, since it allowed me to know exactly how much money I would need going forward, and plan accordingly. Since then. my life has changed a lot, to the point where the confidence in predicting my expenditure is wearing off. I'd describe it as a slightly panicked feeling of having to work harder, since I'm trying to cover the worst possible situation that my mind can invent. I probably should invest the time to collect another set of hard data...
    • gknoy 14y ago
      Have you considered joining Mint, using plastic for your purchases, and considering cash as "already spent" expenses? (Stay out of debt, mind you -- use the cards as a way to ensure that it's accounted automatically.)