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I don’t write regularly enough for there to be a clear pattern in how my thoughts evolve on a given subject matter over time. Recent musings have led me to consider however that perhaps I would enjoy everything in life a little more if I were to work part-time, rather than full-time. I don’t seem to be capable of striking proper work balance and workaholism is definitely a problem I have. So, I am not FI yet, (although recent calculations put me at $200k NW next spring) how do I do that?

I gave up the apartment I was still paying for in December and moved in with Bob officially. He already is FI on his own, to where I strive to be, so our bills are already very low. He pays property tax, electricity and aside from the internet bill and home and vehicle insurances there are very little other bills.  I pay most of the groceries. Although we haven’t officially discussed it the arrangement seems fair to me. (I also suspect he pays little attention to where food actually comes from as long as there is food)

If you’ve read any bits of this blog you’ll know I’ve always kept my expenses as low as possible.

With no more rent eating into my budget, and with no more cellphone bill my expenses are really quite low and almost half of them are food-expenses.

I’ve been playing around with ideas on how to change my working situation to part-time, rather than full-time and a basic monthly budget would look something like this

Groceries $200
Fuel $80 (a lot less driving with no day-job)
Spending money $50
Restaurants $50
Medical $20
Clothing $50
Household $20
Car insurance $47.00
Life insurance $12.00
Birthdays $20
Christmas $20

Total expenses: $554.00, $6,648 annually.

Interest income at the end of 2018 should consist of $3,000 leaving me to cover $3,648 of my expenses which I can easily do.

Sidehustle incomes – minimal effort required – I anticipate in 2019
Misc income: $700 (possibly onward)
AIRBNB: $1,800
Sidehustle X: $1,000 (conservatively, $2,000 so far this year)
Total: $3,500 – $4,500

If I return to a simple cottage cleaning job in the summer I can easily earn $7,000 working weekends over the summer and cover all of my annual expenses, side hustle incomes would then cover my portion of our travel adventures and my interest income would remain with the principal allowing my savings to continue to compound. It’s likely my interest income will actually be quite a bit higher as I continue to add to my savings and investments. There is also a possibility of scaling the AIRBNB and doubling that income.

I haven’t accounted for any big purchases here, I purchased a 2014 Chevrolet Trax last month solving the vehicle-dilemma, I dont need to buy a house and together we can absorb any big bumps just fine.

So the gist of it? Once my current contract ends I don’t think I will be pursuing any further contract. That’s a little scary, but the numbers say ill be just fine. It’s really quite simple, keep your life simple and expenses low and things don’t have to get too complicated.

My last post was made January 22, in Thoughts on how to move forward I talked about a long of things. Personal, health, work, about shifting the focus of my financial planning from just getting my shit together to planning for a different future. I thought I had written here after but… figments of the imagination can be pretty realistic I suppose. 🙂 So here’s an update!

Early retirement is on my mind a lot. I suppose this has always been the goal, it has always been what got me started on this path, what got me to fix my mess, get out of debt and save, it is what makes me live like no one else now so that my tomorrow can be different.

I’ve made quite a lot of progress recently. Healthwise I feel amazing, after enlisting the assistance of a naturopathic doctor and finding more like minded people. Through getting back into my workouts and finally, seriously addressing my diet I simply feel amazing. I have not felt this full of life in a very very long time. I’m no longer afraid, I’ve also developed a healthy dose of scepticism toward the medical doctor I have dealt with this past year, but that is perhaps a post for another day. 🙂

Financially I am doing well, I am doing better than I ever expected. I achieved a $100k networth on October 1, 2017. And now, only 6 months later can celebrate;

Which is pretty darn incredible. I guess the snowballing thing just continues once you pay off debt! My goal for 2018 is to achieve a $175,000 networth. My RRSP contribution room for 2018 is $16,528.  So i’ll be using that to reduce my taxable income. There’s been some updates too in the job department, but I’ll leave that for another post.

To get from $135k to $175 is kind of a leap, I mean 40k in one year? I was even considering trying for $185k but lets not set unattainable goals ;). I don’t have a gargantuan income but living simply does allow me to save a lot. This year I will also earn more than last year, which is fantastic, I intend to save it all.

$250k is the magic number for me, its my freedom number, it’s the number at which I will be barista-FI. Financially independent enough to be able to survive on any basic part-time job and live according to my needs and wants.  (assuming, as a single person, not as a couple). I suppose it’s still quite a bit away, it’s a big enough number. So here she goes, a $40k addition to my NW by the end of 2018. Can I beat it?

I am rewriting this post because I already wrote it and it disappeared into the bowels of the internets. So. 🙂

I opened an account with Lending Loop in December 2016 and made my first deposit on December 28th. 

I LOVE the idea of Lending Loop and so far I LOVE the execution of Lending Loop. As a past and current small business owner I know how hard it can be to obtain reasonably priced financing through conventional methods and fully understand that there is a market for P2P lending. Do I believe that debt is a necessity? No, is it useful? Yes.

Consequently I’ve made investments  in a variety of businesses, from $25 up to $325 depending on the risk band and company information provided and scoured off the internet. Most of the loans are in between those two numbers.

I earned $91.64 with Lending Loop this year and made deposits to a total of $2,936.33 and investments throughout the year. If you translate this in hours I spent on reading and learning and thinking about the whole thing… that’s definitely less than minimum wage but as I invest more that will go up. 🙂

The majority; 41% of my investments are A’s, 35% B/B+ and the remainder divided between C (more heavily) and D, the least. I do not intend to make any further investments in D-rated loans or riskier. It’s not my style, I’m uncomfortable with it and so here we are. I aim to keep my gross yield hovering around 10%, which after somewhere around 25% tax should net, haha obviously… 7.5%, not accounting for any delinquencies of which there were none this year! I do expect to get stuck with some next year.

I intend to deposit a further $2,000 to lending loop next week and will invest it gradually through the year as I have this year.

I’m very excited about it!