My Vision of FI: Phase One

I’ve writ­ten pre­vi­ous­ly about my plan for finan­cial inde­pen­dence. Twice, actu­al­ly. Once in My 10 Year Plan post and again in it’s sequel, My 10 Year Plan: 2016 Update. I know, I’m real good at com­ing up with titles. Be jeal­ous of my skil­lz.

For those of you that have just stum­bled across this lit­tle slice of FI heav­en, I’ve give you the TL;DR ver­sion:

Work and save lots of mon­ey
Retire when I hit $587,500 by 35
Live hap­pi­ly ever after

That was last year. This is now.

This year, I’ll be chang­ing the plan more times than a 17-year-old girl try­ing to get ready for a date with the foot­ball cap­tain. (and no, not bas­ing that off any per­son­al expe­ri­ences.…. or am I?)

I’ll be cov­er­ing them in a series of posts, based rough­ly on how I expect/anticipate/hope things will go.

First up is this post, which will cov­er every­thing in the Accu­mu­la­tion phase.

The sec­ond post will cov­er every­thing the Finan­cial­ly Free phase (say that ten times fast).

The third and final post will cov­er every­thing after that.

Notice a dis­tinct lack of num­bers and dates. Things can change so rapid­ly one way or the oth­er that I’m not sure it’s worth try­ing to pin a date or dol­lar amount to any­thing. I men­tioned 2019 a few posts ago and almost imme­di­ate­ly regret­ted set­ting that date on it. I would cer­tain­ly like it to hap­pen, and I’m going to strive for that with every­thing I’ve got, but as with much of life, there are no guar­an­tees.

Before I look into the future, I want to take a quick peek back at where I’ve come from.

Start: Age 23, Net worth $10,000

Year 1 (2014): Age 24
Net worth $45k
Par­tial­ly maxed 401k
Maxed Roth IRA
rent­ed
Com­ments: I made a mis­take when cal­cu­lat­ing how much went into my 401k. I includ­ed the com­pa­ny match. So, while I end­ed up with almost $18k saved like I thought I would, I actu­al­ly only saved $13k. I did max out my Roth IRA though, and also rent­ed a house. Total income: $76,314 (pre-tax)
Year 2 (2015): Age 25
Net worth: $83k
Maxed 401k
Maxed Roth IRA
rent­ed
Com­ments: As of Decem­ber 2015, my net worth was $83,000 (ish). I maxed out my 401(k) for real and vest­ed my employ­er con­tri­bu­tions, in addi­tion to max­ing out my Roth IRA. I rent­ed an apart­ment for the last 6 months of 2015. Total income: $80,526
Year 3 (2016): Age 26
Net worth $128k
Maxed 401k
Maxed Roth IRA
par­tial­ly maxed HSA
rent­ed
Com­ments: My last year in the devel­op­ment pro­gram. I tried to buy a rental prop­er­ty that didn’t work out, so I con­tin­ued to rent. I maxed out my 401(k), Roth IRA, and put some mon­ey into my HSA. I got a new job at the end of the year that came with a big fat raise! I moved from the apart­ment into a friend’s base­ment while I wait­ed to buy a mul­ti-fam­i­ly rental prop­er­ty. Total income: $82,269

It’s nice to see I beat my 2016 esti­mate for net worth by a few thou­sand dol­lars! 3 years with real­ly close esti­mates gives me a lot of faith in my esti­mat­ing skills.

Which is a good thing.….. because it’s about to get way more com­pli­cat­ed with the rental prop­er­ty thrown in there. But it’s a good com­pli­cat­ed and I’m hap­py to add in the com­plex­i­ty!

Accumulation phase going forward

In the next two years I project I will have the fol­low­ing finan­cials:

Total esti­mat­ed W2 income: $150,000
Total esti­mat­ed rental income: $62,000
Total esti­mat­ed misc income: $25,000

Total esti­mat­ed expens­es: $60,000

Those num­bers are before tax. How­ev­er, I hap­pen to know some pret­ty smart tax accoun­tants, so I’m hop­ing my tax bur­den will be a great deal less than it was in years past. Between my rental prop­er­ty busi­ness and the blog, I’ll have lots of oppor­tu­ni­ties to apply as many deduc­tions as human­ly pos­si­ble. Which, if you’ve ever tak­en a gan­der through the US tax code, add up to a sig­nif­i­cant num­ber of deduc­tions.

W2 Career

I make just about $77k per year. Not too shab­by for some­one 3 years out of col­lege and in the Mid­west. I do not expect to get any major bonus­es or rais­es before I stop work­ing. I do expect, how­ev­er, to con­tin­ue to work hard and have fun while on the job. I love my new posi­tion and don’t want to change jobs after the 18 month ‘freeze’ is up.

It’s so nice to come into a job I love with great cowork­ers. Hav­ing had sev­er­al not as sat­is­fac­to­ry jobs in the past taught me how valu­able a good team and fun job is. I also like the fact I can make plans for projects in the future! My last jobs all had firm end dates, so I always felt like I was being left out when they dis­cussed future projects.

The income from my W2 career will pro­vide the cap­i­tal I need to start and expand my rental prop­er­ty busi­ness.

Rentals

Speak­ing of rentals.… I am star­ing down the bar­rel of clos­ing on my first prop­er­ty! Now that the time is here, I’m equal­ly parts ter­ri­fied and elat­ed. This is incred­i­bly impor­tant to me and the last thing I want to do is mess it up. So you can bet I’m doing tons of research and com­ing up with a bul­let­proof lease (that’s being checked over by a real estate attor­ney just to real­ly cov­er my bases).

This first prop­er­ty will pro­duce just shy of $10,000 this year in income. Next year it will bring in approx­i­mate­ly $17,000. If, you know, every­thing goes exact­ly to plan and I encounter no major issues. Knock on wood!

That will account for a good chunk of the rental income I’m pro­ject­ing. So, you ask, where’s the oth­er $35k com­ing from?

Ah-hah! Anoth­er rental prop­er­ty! (or two, or three!)

My goal is to have at least 3, and hope­ful­ly 4 rental prop­er­ties to my name by the end of 2018. I want to buy anoth­er one this fall. That will be straight income pro­duc­ing, with­out me liv­ing in it. Then in the spring of 2018 I want to buy anoth­er prop­er­ty, one I can live in through 2019. Then in the fall of 2018, buy the 4th one (hope­ful­ly)! What a fab­u­lous birth­day present to myself that would be.

I’m guessti­mat­ing low for the income the prop­er­ties will pro­duce, since I can’t guar­an­tee they’ll all be triplex­es bring­ing in $1,500/mo. Prop­er­ty num­ber two I’m guess­ing will net me around $5k for the year, depend­ing on when I close and take over the prop­er­ty. I’ve set that num­ber at $15k for 2018. Prop­er­ty num­ber three I’m guess­ing will bring in $10k if I buy it in the spring. Prop­er­ty num­ber four, the fall pur­chase, is set at $5k.

Oth­er Income

The “oth­er” income cat­e­go­ry is exact­ly what it seems. Any mon­ey I make on things not my career or rental prop­er­ties. That includes things like this blog, stained glass sales, and any oth­er side hus­tles I come up with (any­one want to have me house sit while they trav­el the world!?). I’m work­ing towards bring­ing in $10k this year, and $15k next year.

If any of this seems con­fus­ing to you, just know you’re not alone. I had to cre­ate a handy dandy graph­ic just so I could keep it straight!

On the oth­er side of the equa­tion is expens­es. I’ve guessti­mat­ed those to be $60k for 2017 and 2018 com­bined, but hon­est­ly I have no idea. Buy­ing prop­er­ties and spruc­ing them up for renters comes with a fair amount of one time expens­es. I know for sure my expens­es will be way low­er than 2016 as I’m no longer hav­ing to cough up $1057 in rent every month.

Summary

That brings me to the close of my accu­mu­la­tion phase. I’m going to con­tin­ue to work hard, save lots of mon­ey, buy prop­er­ties, and just gen­er­al­ly diver­si­fy my income streams while keep­ing my expens­es as low as I can.

.…I also said I wasn’t going to focus so much on num­bers, and then pro­ceed­ed to cre­ate an entire post around the antic­i­pat­ed num­bers. The irony.
What do you think of my plan so far? Any sug­ges­tions or words from the wise?

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38 thoughts on “My Vision of FI: Phase One

  1. Wow, it’s real­ly hard to say Finan­cial­ly Free Phase real­ly fast, 10 times.

    Con­grats on the pend­ing close of your first real estate invest­ment!! Woot woot! Excit­ing plans ahead, and I’m look­ing for­ward to enjoy­ing your jour­ney with you via your words! Your plan seems sol­id, though I’d be care­ful about going too far, too fast with the home pur­chas­es until you’ve digest­ed the first 1 or 2 and made sure there weren’t any “sur­pris­es” (Miss Mazuma’s dis­as­ter­ous real estate sto­ry comes to mind). There are many out there (Coach Car­son) who have crushed it in real estate, so it’s a proven track. Learn from those that have gone ahead of you.

    Look­ing for­ward to this series, espe­cial­ly that Finan­cial­ly Free Phase. Finan­cial­ly Free Phase. Finan­cial­ly Free Phase. Finan­cial­ly Free Phase. Finan­cial­ly Free Phase. .…

    • I’m look­ing for­ward to shar­ing! I love Ms. Mazuma’s tale of real estate and woe. It’s a very real, very sober­ing exam­ple of every­thing that can go wrong :/ I hope to learn from her mis­takes and not repeat them!

  2. Woo! I’d per­son­al­ly love more details on the oth­er income if you’re com­fort­able shar­ing. That’s a size­able chunk of change — way to go! 😀

    ….I also said I wasn’t going to focus so much on num­bers, and then pro­ceed­ed to cre­ate an entire post around the antic­i­pat­ed num­bers. The irony.”

    -THE STRUGGLE IS REAL-

    Every time I think “I’ll just do a light post this time — a slice of life talk. No heavy research or any­thing super time con­sum­ing…”
    NOPE.

    • I’ll share when I fig­ure it all out, but for now that’s the lofty goal! Shoot for the stars and all that jazz lol

  3. So excit­ing!! Takes me back to buy­ing my first property…oh the joys of being excit­ed and ter­ri­fied all at once! No greater feel­ing in the world. And yes, I had some finan­cial dra­mas relat­ed to said prop­er­ties (thanks, Fritz, for point­ing that out!), but I seri­ous­ly wouldn’t change any of it for I would be in a dif­fer­ent place today. You’re on your way to great things, girl! Look­ing for­ward to join­ing you on this journey…when are we fix­ing up the effi­cien­cy?? Have tools, will trav­el!
    Miss Mazu­ma recent­ly post­ed…Shift Your Per­spec­tive & Cre­ate New HabitsMy Profile

    • Prob­a­bly some time in May! I’ll be out of town almost every sin­gle week­end in April… unless you would like to come on over Good Fri­day. I have a 3 day week­end and no plans yet!

  4. This is great Gwen! Good break down of the plan and I love the ambi­tion. To play dev­ils advo­cate ( I don’t have any expe­ri­ence or deep under­stand­ing of the US prop­er­ty mar­ket )…but what is the strat­e­gy if there is anoth­er hous­ing ‘cri­sis’ in the US like 2008? Have you done the num­bers from a ‘worse-case-sce­nario’ per­spec­tive?
    Also I too love the num­bers!! Its great to see the detail!!

    Keep it up!

    • The prop­er­ties I’m buy­ing are fair­ly low cost. I have no busi­ness buy­ing prop­er­ties I can’t afford on one salary. For instance, P&I on this first prop­er­ty is $350/mo. Even adding in 3 more prop­er­ties comes up to $1400/mo which I can cer­tain­ly swing. If the hous­ing mar­ket, and broad­er mar­ket at large, go tum­bling down, I’ll be there to buy as much as pos­si­ble.

      • An over­all hous­ing mar­ket like­ly would not hurt your over­all plan. It could soft­en rent, mean­ing you’d make less cash flow. But even in the depths of 2009–2010, rents rarely went down that much and often went up. So, as long as you have sol­id mort­gages and good reserves, you can weath­er the storm.

        And I agree — BUY more if that hap­pens!

        Awe­some to see your over­all progress year by year and what you have planned for the future!

  5. Share your tax ded­u­ca­tion wis­dom, oh wise one! We owed on tax­es for the first time this year and it total­ly sucked. We’re look­ing to decrease our tax­able income and find a few deduc­tions. It sounds like you’re well on your way to FIRE. Con­grats on that first prop­er­ty! That’ll be an adven­ture, but I’m hop­ing it’ll be a prof­itable one for ya. 🙂

  6. Where rental prop­er­ties are con­cerned, plan for cap­i­tal expen­di­tures in your esti­mat­ing. Each house will have some big-tick­et work every few years. If you plan to replace the roof and paint, then these cap­i­tal expen­di­tures won’t be emer­gen­cies. You could even fit them into your tax plan­ning. Go through the things like water heaters, fur­naces, kitchens, baths, roofs, sid­ing, etc. not­ing their age and their nom­i­nal life­times and cre­ate a tick­ler file for your­self in the out years. If the water heater doesn’t go out, thank Mur­phy for the pass.

    Just remem­ber that if you keep all your cap­i­tal reserves in VTSAX, he’ll wait until a bear mar­ket to break every­thing. With a big enough cash cush­ion, black swans are paper tran­sients. If a bunch of stuff is sched­uled to wear out, tem­porar­i­ly increase your cap ex reserve just to keep Mur­phy away.

    • Yeah cap­i­tal expen­di­tures are no fun. I have to replace the gut­ters, some rot­ten wood on the exte­ri­or and paint this first year. That doesn’t even include any improve­ments I make to the inside of the house!

  7. Hi Gwen!

    A grand plan.

    A cou­ple of thoughts, for what they are worth. I’m (prob­a­bly) not talk­ing bol­locks, as these have worked out pret­ty well for me.

    Many in the FI world will poo poo rental prop­er­ties (or any­thing that isn’t VTSAX for that mat­ter!), high­light­ing the has­sle and main­te­nance and yada yada. It is good to see you’re not lis­ten­ing to them.

    You’re young and (large­ly) free of respon­si­bil­i­ties. Take advan­tage of that, it won’t last for­ev­er! At the moment lever­age is your friend, and inter­est rates are (for now) at his­tor­i­cal­ly low lev­els. Use that to your advan­tage, if you get it right it will super­charge your cap­i­tal appre­ci­a­tion.

    When you’re eval­u­at­ing your real estate options, run the num­bers on each prop­er­ty, but also think of the port­fo­lio as a whole. Buy­ing some­place cheap that mar­gin­al­ly cash flows in an also-ran loca­tion might con­tribute a cou­ple of thou­sand dol­lars into your bank account each year, but you won’t see much cap­i­tal growth… and it is the cap­i­tal growth that real­ly boosts your wealth from prop­er­ty.

    With that in mind, once you have pos­i­tive cash flow­ing prop­er­ties 1 and 2 under your belt, for 3 and maybe 4 look at areas with strong growth prospects or in mar­kets that tra­di­tion­al­ly out­per­form. They’ll cost more, and the yield is unlike­ly to be as good, but in the medi­um to long term it will be these ones that make the biggest con­tri­bu­tion towards your FI num­ber. You will always want your port­fo­lio to be cash flow pos­i­tive in aggre­gate, but eval­u­ate each indi­vid­ual prop­er­ty on its own strengths (being able to add val­ue, great loca­tion, in an area set to expe­ri­ence rapid growth, etc) and weak­ness­es.

    If you can tol­er­ate the arrange­ment, look for a mul­ti­ple occu­pan­cy prop­er­ty (duplex, triplex, what­ev­er) where you can live sub­sidised (or for free) while you rent out the oth­er flats and use them to cov­er your bills. This will allow you to mas­sive­ly increase your sav­ings rate.

    Paula Pant and Coach Car­son have some good stuff worth read­ing. Some of my more pop­u­lar posts are prop­er­ty focused too.

    Good luck exe­cut­ing your plan, the path you are fol­low­ing cer­tain­ly paved the way to Finan­cial Inde­pen­dence for me so I hope you expe­ri­ence the same.

    Cheers
    Slow Dad
    Slow Dad recent­ly post­ed…Finan­cial Inde­pen­dence is only the begin­ningMy Profile

    • Thanks! I’ll for sure check out your links. This first prop­er­ty I’m buy­ing is a 1910 house that got con­vert­ed into a triplex. I will be liv­ing in one unit (the stu­dio) and rent­ing out the oth­er two!

    • I think Slow Dad is wise! The 1% rule is great, as lever­ag­ing a small down pay­ment to buy cash-flow­ing prop­er­ties in marginal/slow growth areas, but I agree that the headaches may not be worth it, and ulti­mate­ly the assets are ones that you may not want to own, or unload if you get sick of land­lord­ing. The 1% rule does not account for dif­fer­ences in vacan­cy rates, repair costs, mar­ket­ing costs, and evic­tion rates between high and low qual­i­ty prop­er­ties.

      The bear mar­ket of 2009 was a great oppor­tu­ni­ty to pick up under­val­ued prop­er­ties in oth­er­wise high-growth, high-qual­i­ty areas that were poised to boon as part of the recov­ery. Now, how­ev­er, it’s real­ly hard to get a 1% cash-flow­ing prop­er­ty in a desir­able, high growth area such as Den­ver, San Fran­cis­co, Port­land, Seat­tle, Los Ange­les, or DC. The areas that will cash flow at 1% now tend to be in more depressed/lower growth areas and may pro­vide a few thou­sand a year over time, but my guess is they will come with more severe ten­ant headaches, lit­tle cap­i­tal growth, high­er repair and vacan­cy costs, and dif­fi­cul­ty unload­ing the prop­er­ties should one want to get out of the busi­ness.

      I was lucky to buy one prop­er­ty in 2012, right as the mar­ket was com­ing back. I only wish I had bought more! It’s Class A and we get ten­ants that can gen­er­al­ly pay their bills and don’t trash the place (for the most part, any­way). There is a line around the block to rent it when­ev­er it comes on the mar­ket, and ten­ants tend to stay. That hav­ing been said, it doesn’t cash flow 1%. But it more than pays for itself, has appre­ci­at­ed sig­nif­i­cant­ly, and our repair/vacancy/marketing costs are fair­ly low. Rents have sky­rock­et­ed- over a 20% increase in 4 years. It will hit the 1% rule in a few more.

      I think qual­i­ty and future growth, as Slow Dad states, are real­ly impor­tant fac­tors in buy­ing a prop­er­ty, per­haps just as impor­tant as the 1% rule, which I broke, fla­grant­ly, but in doing so end­ed up with a more sta­ble, faster-appre­ci­at­ing prop­er­ty in a “hot” area with healthy rent growth. Would I have loved a prop­er­ty that met the 1% rule? Yes. But I also want high-qual­i­ty ten­ants in an area with great appre­ci­a­tion and increas­ing rents.

      Curi­ous as to every­one else’s thoughts…

      • I agree Slow Dad’s com­ments were very wise about bal­anc­ing cash flow and growth prop­er­ties. The growth prop­er­ties can real­ly accel­er­ate your net worth gains. And thanks for the men­tion!

        I’m sure 1% rule prop­er­ties are tough to find (or impos­si­ble) in the big, hot mar­kets right now. But that doesn’t mean the non-high-priced mar­kets are not worth hav­ing. Go to the south, mid-west, and heart­land of the US and you can still find 1% prop­er­ties or bet­ter AND they’re not dumps in hor­ri­ble areas. I think that’s a mis­con­cep­tion a lot of peo­ple have.

        The invest­ing rules of the game are to adjust your strat­e­gy. 2010–2012 was an anom­aly. Easy pick­ings for those who jumped on deals. Now is more nor­mal and com­pet­i­tive. You have to dig hard for deals, do mar­ket­ing, nego­ti­ate, add val­ue to prop­er­ties, etc. Not impos­si­ble, just more of a chal­lenge (which weeds out the com­pe­ti­tion for those who take it on!).
        Chad Car­son recent­ly post­ed…The 7 Habits of High­ly Effec­tive Peo­ple, by Stephen R. Cov­eyMy Profile

  8. A very ambi­tious 2 year plan! Good luck with your rentals! Look­ing for­ward to see­ing posts on how those turn out. Per­son­al­ly, I’m not inter­est­ed in get­ting into real estate invest­ment beyond the REITs in my port­fo­lio (…because I’m lazy AF…), so I am inter­est­ed to see if the addi­tion­al risk and effort pays off for you.

    • Ain’t no shame in your game! I hope I’ll be able to share they’ve turned out great! Time will tell lol

  9. You’re going to have to hus­tle if you real­ly want to get to 4 income prop­er­ties by the end of 2018. We’ve had ours for a year and a half, and I’ve decid­ed we’re not ready to add a sec­ond one yet! The first one hasn’t been per­form­ing as well as I had hoped. Mak­ing mon­ey, but not gang­busters, and def­i­nite­ly not enough for a down pay­ment on anoth­er.
    Norm recent­ly post­ed…How Much Did Our Trip to Thai­land Cost?My Profile

    • Ide­al­ly I’d be able to save every pen­ny that comes in, but more than like­ly I will need that mon­ey for updates on the house first. I’ve got an excit­ing plan cooked up for house #2 🙂

  10. I think this is amaz­ing! How sta­ble is the econ­o­my in your area? Any con­cerns that you may have less than desir­able ten­ants? Or that the econ­o­my (often less than healthy in the great Mid­west) may go bel­ly-up?

    I have one rental, and it’s done very well (even if it doesn’t make the 1% rule, but since I have a deal for cheap repairs, and it’s a Class A that sells itself in the worst of times with thus far HIGHLY reli­able ten­ants, I come out far ahead).

    I as not to chal­lenge that you haven’t done your due dili­gence, but more to express my own fears of invest­ing fur­ther in less-than-liq­uid assets that can come with a whole bunch of headaches as well as the pos­si­bil­i­ty of hav­ing to pay a mort­gage on a non-income pro­duc­ing, depre­ci­at­ed asset.

    • The econ­o­my here is about as bad as it will get. I antic­i­pate things will pick up here in a year or two once the local indus­tries pick up steam. It’s off­set some­what by the local col­leges around here. I am hap­py to rent to the grad stu­dent pop­u­la­tion if need be! If the econ­o­my plum­mets, I’ll be doing my best to acquire more prop­er­ties whilst they’re on sale!

      • Inter­est­ing! Great that you are in an area on the upswing. I’ve seen too many towns in upstate New York, rur­al New Eng­land, and the Mid­west that start­ed on a down­ward spi­ral from which they nev­er recov­ered, with their once-vaunt­ed indus­tries eas­i­ly relo­cat­ing to the South or over­seas. Prop­er­ty there is unrentable, and worth almost noth­ing, no mat­ter when it was pur­chased, even at the nadir of the mar­ket.

        Sounds like your area has no such issues! Glad to know it’s robust, and that your are con­fi­dent in its future!

        • If the major indus­try goes south (fig­u­ra­tive­ly and lit­er­al­ly), I’m screwed on a num­ber of lev­els since they hap­pen to be my employ­er as well! How­ev­er they just empha­sized their com­mit­ment to the area so I don’t think they’re going any­where for a very long time.

  11. Oth­er income is: “things like this blog, stained glass sales, and any oth­er side hus­tles I come up with ”

    What about invest­ment div­i­dends? Are you just rein­vest­ing those back in to the funds and not keep­ing track of the annu­al income they hap­pen to pro­duce?

    I feel like a lot of Keith’s tricks are real­ly more for the self employed. it’s going to be tough to take a major loss against your big salary, espe­cial­ly since your rental has such good stats (hav­ing to pay taxes.…sounds like a great prob­lem to me)

    You’ve clear­ly posi­tioned your­self into a great spot and if you get a few more rentals with the same sta­tis­tics, you can prob­a­bly adiós your job soon­er than you’ve been intend­ing…

    Good luck!
    TJ recent­ly post­ed…Slow Trav­el – Over­rat­ed or Worth it?My Profile

    • You know, I don’t real­ly count those. I guess I could.… but it’s real­ly not any­thing sig­nif­i­cant. I think last year it was about $150? what­ev­er VTSAX threw off.

  12. Gwen, I am total­ly impressed with your plan and the fact that you are talk­ing about not 1, not 2 and maybe not even only 3 rentals. Go big or go home, am I right? Own­ing rental prop­er­ty is not part of our plan (at least cur­rent­ly), but I can’t wait to hear about how it goes for you. So excit­ing!!
    Mrs.Wow recent­ly post­ed…The iPhone and My Igno­ranceMy Profile

    • Thanks Mrs. Wow! I can’t wait to tell you all the nit­ty grit­ty details over some coconut juice and Ecuado­ri­an cof­fee in Octo­ber!

  13. Every time I read your posts, I feel like I’m look­ing into the mir­ror. Our ages are sim­i­lar, our net worths are sim­i­lar, our goals are sim­i­lar, and I’ve just start­ed look­ing into accel­er­at­ing my path to FI with rentals. And if that wasn’t enough, we both make stained glass!

    Wtf, are you me?
    The Mon­ey Wiz­ard recent­ly post­ed…How to Choose a Van­guard Index FundMy Profile

    • I can only han­dle hav­ing one inter­net twin at a time! Not sure how the world in gen­er­al could han­dle hav­ing more than one of me!

  14. Hey Gwen. Very impres­sive plan. I wish you well. The only down­side I see is real estate. Mrs Groovy and I had a great ten­ant who, aside from a three-month immi­gra­tion cri­sis (long sto­ry), nev­er missed a rent pay­ment for 8 years. And, yet, despite prac­ti­cal­ly no ten­ant issues, we dis­liked being land­lords. But if you find you got land­lord­ing in your blood, your plan should be a smash­ing suc­cess.

    • Thanks Mr. Groovy. We’ll see how it goes. I’m very much a peo­ple pleas­er, so I imag­ine it will be a bit of a tran­si­tion for me at first.

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