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Subject:  Re: My Plan Date:  10/23/2001  1:26 PM
Author:  jbrains Number:  21 of 35

1) $15,000 isn't very much money -- you might want to reevaluate. If you're living on $30K now, would you be able to cut your expenses in half if you couldn't find work?

I figure I need to spend $30k, but I could as easily live on less. You're right, though: perhaps it should be a higher figure. I can crank through $25k and see how it goes. Certainly there are travel costs that go down after I stop working for money. There can also be savings in clothing and even food -- less convenience food to take to work for lunch. I can probably shave down to $25k.

2) What is your plan for going from 3.5% to 7.5% in your RRSP/other investments? You'd better bump up that return, because right now you're barely keeping up with inflation.

I don't know yet. I just know that I need to figure it out by 2005. :) I am investigating that idea these days and coming up with ideas. I need mostly safe, fixed income. "Growth" is not so important with me. I have a set amount that I want to invest into something stable, then I can speculate, if I like, with the rest. People are down on bonds, but I can't figure out why yet. What's so bad about bonds?

3) What about marriage, kids, home ownership? Early retirement plans notwithstanding, life happens.

I am attached, although not married. My girlfriend and I both don't seem to be in a hurry to get married. As far as we're concerned, we already are. As for kids, there are no plans for that, period. Of course that could change, and if it changed, then I could always change my plan. Home ownership remains a possibility, but it's not likely within at least the next three to five years, so I'm not concerned about that. If I got to FI before I wanted a house, then I could simply decide whether going back to paid employment is worth the house. It's a clear tradeoff decision at that point.

Yes, folks! This is what I'm looking for! Help me out!


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