Mr. German and I are on the same page when it comes to being frugal, living simply, saving a large portion of our incomes (about 65%), and bringing in extra money through side hustles.
Living below our means comes so naturally to us that we don’t even notice it. Which is why Mr. German doesn’t really get why we need to do any more.
Aren’t we doing enough?!
It depends on who you ask.
From my perspective, there is so much more we can do. I want us to be Financially Independent and Retire Early (FIRE) in 7 years, while Mr. German thinks this is all a little nuts.
Not there yet
Suffice it to say, we are so close, but aren’t exactly aligned when it comes to FIRE-ing.
That’s why I started this blog!
We have a lot of potential, but potential means nil unless we use it!
True that we are progressing on auto pilot, but with a little bit of extra effort, we can accelerate our progress by a lot.
Specifically, we need to invest to generate passive income. We need to start making our money work for us!
There is no way we can stop working in 7 years if we keep all our money in cash.
Our FIRE approaches
When pressed, Mr. German’s approach is to not change too much of what we’re already doing. Except, to buy a primary residence that will lower our expenses. Then we can accelerate our savings rate even more.
My approach is to slowly grow our net worth by investing in dividend stocks. I want us to have passive income that will in the future, completely cover our expenses so we do not have to draw down our principal. I do not need to buy real estate, as I don’t think it’s a good investment. But(!), I am also willing to buy property that fulfills Mr. German’s criteria. I just don’t want us to keep everything liquid in the event that we find something, when the market moves so slowly here. Years can go by before we find anything we like, and I don’t think it’s a compelling enough reason to NOT invest in stocks.
I think we have a bit of a dissonance here because Mr. German doesn’t want to stop working. He likes his job, and assumes he will work until age 67. The idea of changing his routine is down right scary, so he doesn’t want to even think about it, let alone plan for it. Also, Mr. German has never invested in the stock market before, so is understandably apprehensive about it.
Me, I’m counting down the days until I can retire! My life goals do not revolve around working until I’m in my 60’s. That concept is downright scary for me.
The journey continues…
Despite our ups and downs, I think we make an excellent team. Mr. German has strong income earning potential and his career is going well. He focusses on providing and giving our lives real stability. Our day-to-day lives move so smoothly because of him. I appreciate that so much.
My career is also going well, but my company is less stable and quicker to make cuts. Also my personality skews towards NOT working ^_^. I do conceptualize and lead
my our FIRE goals, while challenging Mr. German to think more like a rich person (vs. a middle class person).
Without each other, I think we could both reach financial independence, but it would take longer and wouldn’t be as much fun.
One of the reasons I want to FIRE so badly is so I can spend more time with Mr. German while we are still young. I would much rather hang out with him all day than do anything else. 🙂