I check my comments way more often than I check my email. I only go into my email perhaps once a month, get afraid by how many emails I should answer, and then log out.
But I waded through my inbox because that’s what heroes do. And I came up with more questions from you guys since my last post.
You may have covered this somewhere, but i was just wondering how much you spend on food and housing per month to be able to just spend $22k last year? Rent every where is expensive, so how do you manage it, if I may ask?
I live in Denver, Colorado, USA. My rent is $1101/month and that includes everything except electricity, which is $13/month approximately. I don’t know how much I spend on food because I don’t break it out that way, but I spend ~$750/month on “everything else.” I’m guessing $400 for food because that’s probably my biggest expense, but I shouldn’t guess because I have no idea.
Paraphrasing: Want to meet in Israel?
Probably. Eventually.
Paraphrasing: Want to meet in Denver?
Eventually? But not until I get a vaccine.
Paraphrasing: How do you not look at your investments every day?
I don’t think of the money as mine until I cash it out. So it’s pretty to look at occasionally, but it doesn’t dictate my mood because I know how fragile everything is. It could get cut in half tomorrow!
I checked my portfolio every day when I worked though. Maybe, probably, surely, it’s a working thing?
Paraphrasing: You should check out https://portfoliocharts.com/
This looks like a site where you can play with different returns and withdrawal rates to make your own chart. Fun! He has some interesting articles.
A couple more questions come to mind. What are your thoughts on carrying a mortgage without W2 income?
I don’t know. Would you need a co-signer? Can you get a loan without W2 income? I didn’t think so, but I’ve never looked into it.
Buying property generally involves a commitment longer than your 3 year cycle, so how will that work for you in the long term?
I’m hoping to buy property somewhere I’d want to live for longer than three years. That’s the part that conflicts with reality.
When deciding whether or not to relocate to another city how do you factor in the cost of leaving behind the relationships you’ve built in your current city?
Individual people living in a city go in the “pro” column. Unless they’re exes, then they go in the “con” column.
I know you went through the agonizing process of choosing where to live a few years ago and came up with Denver as the answer. How have your thoughts on this changed?
My thoughts are always changing. I love Denver, but I loved Sydney and I loved Chicago and I love the idea of New York and I don’t know. Having too many options seems to sour the possibility of ideal.
When you say “It’s free money if you do it right” are you referring to house-hacking?
Yes. You can get loans to cover the mortgage and then rent out or Airbnb out to cover the monthly mortgage. At the end, you own the house! Obviously there are more steps than that, but yeah, house hacking.
Just a thought on NYC- I live there now. I moved to NYC for a job, so I didn’t move to NYC specifically because I was in love with the idea with NYC. Interestingly enough, my rent is the same as yours and I live in a nice neighborhood, but that’s because I negotiated it down during covid and I have three roommates (luckily people I like). I have found it incredibly hard to live here. It’s expensive, so you pay a premium for everything (medical, dental, food, entertainment). I’ve also found it overwhelming (admittedly I’m an introvert) and extremely difficult to create meaningful relationships with people. I’ve lived in 7 different places all over the USA. In a city of 8 million people, NYC is the place where I have felt the loneliest. Everyone is busy and have lots of other engagements. Anyway, you might not have the same experience, but just wanted to provide one person’s perspective. I think it would be worth testing it out for a few months, though, and see if you like it.
Thanks for the perspective! I’m amazed that your rent is that cheap in NYC, but I appreciate you taking the time to write all that out. I think six months would be enough for me to live in NY.
Hey, thanks for sharing, @plain.jane.gray! I live in New York too, so I thought I’d provide another perspective … Don’t want to scare Anita away 🙂
I’m very much an introvert too, but I think once you get used to the rhythm of the city, the overwhelming bits fade away, and New York can be kind of enjoyable. (Granted, I grew up here, so I’ve had longer to get used to it.)
As for loneliness, I don’t have any easy answers for you. There ARE wonderful communities in New York, for everything from FIRE to NaNoWriMo, but I guess they take a bit of work to find, and it helps if you know someone who knows someone. (BTW, the NaNo group in New York is the best one ever — I can say that because I’ve met NaNo writers from all over the world, heh — and I’d be happy to introduce anyone to the group.)
Re: “Everyone is busy and have lots of other engagements”: Yeah, *some* people are. (I stumbled across this recently and it’s an incredible read if you’re interested in seeing how some people live: https://www.reddit.com/r/MoneyDiariesACTIVE/comments/cpt1kf/i_am_32_years_old_make_280000_including/ , but I would find it exhausting.) But there are lots of other people who are way more low-key.
Anyway, all this is to say, I hope Anita does give New York a try — I think it’s pretty great (especially when there’s not a pandemic). And I’d be happy to share tips or make intros for anyone who ends up here.
I love NY! I have a lot of friends there from law school, but they’re all busy lawyers. But I’ve never had trouble making friends, so that’s not really one of the things I’m worried about. I am concerned I might be overwhelmed. I appreciate your perspective!! I tried reading the thing you linked, but it was so long! I’ll put it in my to read file when I have more bandwidth.
“But I waded through my inbox because that’s what heroes do.” LOL. Another insightful Q&A. Thanks for answering the questions I posed!
Thanks for asking them! I wish I had better answers to give.
Yay, I love celebrity Q&A! Have you ever thought about being a celebrity? :p Or at least an Instagram influencer? (Are you even on Instagram?) Or TikTok — wanna sing and dance? Or maybe do makeup tutorials? Or stream video games on Twitch?
> electricity, which is $13/month approximately
Oh wow — how do you find electricity for so cheap?! I’m in a tiny apartment, and it still costs $50/month 🙁
I don’t know why it’s so cheap! I don’t have anything plugged in in my bedroom. I have a television and four lamps and my laptop plugged in in my living room. My fridge and stove are both plugged in. I guess I don’t use that much electricity?!
I used to have an Instagram, but I haven’t signed in in a few years. Should I start instagramming again? I remember being obsessed with how many hearts I got and that didn’t feel healthy.
Typically, when people ask if you have an instagram, they’re really asking “do you have a place where I can see you wearing very little?” (Though this commenter is obviously genuine.)
In your case, I’d like to see some “a day in the life” snapshots. Not just fun things like travel, but also everyday (mundane?) things just to get some perspective. Sometimes freedom just looks like spending 10 days in a row reading and working out (or whatever).
lol — I wouldn’t mind seeing fully-clothed pictures either?
I think Instagram removed the hearts count a while ago, so you don’t have to obsess about it anymore!
Oooh, that’s something in the pro column.
LOL. My instagram is instagram.com/evlpeace. Those pictures are old though. I rarely hang out with people and selfies make me cringe a little. Maybe I’ll restart the old ‘gram again though. For kicks and giggles. For an experiment? I don’t know. We’ll see.
I vote yes. You definitely need some new posts because I can’t look at your old ones (your abs are so cut they’re like taxes for rich people).
Ha, they don’t look like that anymore, sadly. It took a dedication to clean eating I found unsustainable.
I’m floored by your electricity costs as well. $13/month! Even when I convert that to Canadian currency it is jaw droppingly cheap. I live in an apartment as well. My “delivery charge” aka what they charge just to be hooked up to the grid, is $16.15 per month. That’s before I’ve even used 1 kW of power!! (which I only paid $8.07 for actual electricity used).
My suggestion: before you pick another place to settle/buy real estate in, check out all the expenses for the location, not just real estate price and property taxes. But I’m sure you’ve already thought of that….
My electricity bill was $10/month before I got the television! I don’t know why it’s so cheap, but I’m happy it is! Internet, heat, trash, water, all of it is already included in my $1101 rent.
Congrats on keeping the expenses low. I guess lockdown is making that a bit simpler.
How are you hanging out with friends? All via Zoom? I’m seeing my folks and friends occasionally, simply because we’re not going to get a vaccine in our country in the foreseeable future, so I won’t handle loneliness for years at a time.
Good luck with the next part of your journey.
I have a couple of friends that I’ll hang out with in their houses. The rest are via zoom, mostly. Or on the phone.
You should try out India also….I remember you told breathing is difficult in India but there are nice places without pollution towards Himalayas and villages in all states…you can take 11 days Vipassana course here and try..
India is always on the list of places I want to visit. 🙂
Thriftygal!
As a kindred spirit with a desire to live simply, I share the side-eyed suspicion towards home buying and the cultural default of more stuff = success. I have benefited from your candid writing about the evolution of your perspective about real estate pros/cons. Thank you for your honesty and generosity to lend wisdom to people earlier in their FI journey.
Re: Financing options for FI people looking to purchase a home – I immediately thought of you when I saw the latest MMM post on margin loans. I think it’s a good option to be aware of…when you’re ready, of course.
I appreciate being able to follow your story on this blog. Wishing you joy and clarity in your journey!
Thanks, Lynne. I’ll check out his latest post!
Hi there! Just wondered what your opinion is regarding cryptocurrencies and whether you’re invested or considering buying some
Nope. I’m still pretty firmly in the stocks track.
Thank you for your reply
You’re welcome.