public accountability

Accountability through Uncomfortable Transparency

I will be able to retire within 10 years from (May 27, 2017). It will happen; it’s on the calendar.
I said it before, and I’ll keep saying it until it happens. I’ve shared this goal privately with a few people, as well as made it a public announcement last month in order to get some Kickass Motivation through Public Accountability. As with many things “unordinary”, I’ve received a number of comments from doubters and seemingly haters. Some people were genuinely curious about how I would do it. One of the key steps I’ve taken is to understand where my money is being spent, and seeing if those things are adding appropriate levels of happiness. So in order to pile on even more Accountability through Uncomfortable Transparency, you can take a look at my baseline spending with my Ultra-Luxurious, Carefree Lifestyle. If you think I should be spending less than this, then I agree! I’ll be following up with how I am reducing my own spending to a Still-Awesome, Intentional Lifestyle, where I’ll still be plenty happy and healthy while progressing towards the goal of Early Retirement within 10 years. So I hope you stay tuned (all doubters, haters, curious, and believers), keep me honest and motivated, and enjoy the journey!

My Ultra-Luxurious, Carefree Lifestyle
(baseline simplified average expenses from 2011 to 2016)
This excludes my student loan payments, which I paid off in 2016!
Category Spending Item Monthly Total
Home
Rent $1,640
$1,757
Gas, Water, Trash $65
Electricity $35
Renters Insurance $17
Car
Car Insurance $85
$181
Car AAA $8
Car Maintenance $25
Car Smog $3
Car Fuel $60
Phone /
Internet
Phone $85
$170
Internet $85
Consummables /
Haircut
Consummables $20
$38
Haircut $18
Food /
Drink
Coffee $14
$514
Food $500
Membership /
Fees
WordPress Blog $3
$5
Perfume Fanclub $2
Shopping
Amazon Prime $9
$94
Games $60
Electronics $25
Obligatory Giving
Birthday Presents $54
$118
Christmas Presents $64
Events /
Travelling
Anime Expo $100
$200
Trips $100
Combined Average Monthly Total $3,077
Combined Average Yearly Total $36,924
How Much I Would Need to Save and Invest
to Maintain This Lifestyle in Retirement
$923,100
(assuming 25 times yearly spend, or 4% Safe Withdrawal Rate)

 

My Still-Awesome, Intentional Lifestyle
(starting in 2017 and continuing to adapt to and improve upon)
I hope you follow along, keep me accountable, and enjoy the journey!
Category Spending Item Monthly Total
Home
Rent $1,640
$1,709
Gas, Water, Trash $35
Electricity $25
Renters Insurance $9
Car
Car Insurance $30
$83
Car AAA $0
Car Maintenance $15
Car Smog $3
Car Fuel $35
Phone /
Internet
Phone $25
$110
Internet $85
Consummables /
Haircut
Consummables $10
$10
Haircut $0
Food /
Drink
Coffee $7
$157
Food $150
Membership /
Fees
WordPress Blog $3
$5
Perfume Fanclub $2
Shopping
Amazon Prime $0
$0
Games $0
Electronics $0
Obligatory Giving
Birthday Presents $0
$0
Christmas Presents $0
Events /
Travelling
Anime Expo $0
$0
Trips $0
Combined Average Monthly Total $2,074
Combined Average Yearly Total $24,888
How Much I Would Need to Save and Invest
to Maintain This Lifestyle in Retirement
$622,200
(assuming 25 times yearly spend, or 4% Safe Withdrawal Rate)
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Kickass Motivation through Public Accountability

~ I will be able to retire within 10 years from today. ~

This is a challenge to myself, as well as encouragement to anyone else who wants to join me in this journey to financial freedom. This position of strength will grant us the time to do whatever we want to do (even continuing optional work) without having to worry about money. I write this here in this public forum, not to brag, but to hold myself accountable to you and to the me 10 years in the future who will be very disappointed if they are not yet financially independent.

If I had started thinking about this earlier, I could be much closer to this goal. But part of this process involves making peace with my past, and I invite anyone else of any age interested in joining me to look forward with optimism. Today is the first day we can change the rest of our lives.

Don’t worry, there will be no need for major windfalls like winning the lottery or gambling with individual stock-picking or timing the market. Financial freedom does not require working until an “official retirement age” or “hitting a homerun” to amass a stash. Unlike current popular belief, early retirement is really simple.

We will succeed by following 3 simple steps: (1) avoid debt, (2) spend less than we earn, and (3) invest the surplus. The more we save and invest, the shorter the timeline. As a safety margin, I am giving myself up to 10 years, but If you could maintain a 75% savings rate, the you{+7} could already be retired. How exciting would that be!

I turn 29 years old today, May 27, 2017. Before I turn 39 years old, I will be able to retire. This is simply a fact for I{<39}; I{>29} will make it so. And so it must become.

So this post is a birthday can of kickass motivation through public accountability; this is the best gift I could think of to give myself. If I fail in this goal, I will be the first to mock and criticize myself (and I’m asking that you throw stones too), so I better not disappoint!