This week we’re looking back at my initial early retirement plans, and if you haven’t seen the previous post on what my plans were before meeting my wife, I highly recommend you start there first.
Essentially, last time we covered my early work experience — starting with highs, and quickly descending into lows.
I quickly realised that I wanted to retire early, and I set about beginning to work towards an early retirement that would be most akin to a BaristaFIRE retirement mixed with LeanFIRE. I’d own my own home (so I’d have low housing costs), have a small investment base with an investment property, and then work on a casual basis to get a little bit of extra money to make up the shortfall.
Today I’m talking about what changed — what made me go from a $25,000 per annum budget to a $150,000 budget.
The biggest change came about from meeting Ellie.
Well, this was unexpected.
Life turned upside down
Ellie and I met in 2012, and needless to say my life has been permanently changed ever since. We’re entering personal territory here for a minute, but I never expected any of this — the changes to financial goals or blissful married life.
I had two reasons for aiming for a minimalist BaristaFIRE existence.
Firstly, it was the quickest way to get out of full time work. My goal was to retire by 35 (I’m now 34…).
Secondly, I was quite convinced that I’d be single forever, and I never thought I’d have someone in my life. As a result, I worked out my finances to be what I need to have a life I thought would be better than the one I had at the time.
While I wanted to travel, and I did a small amount by myself, doing it alone left the experience lacking. The other times I’d been with family made the experience so much more enjoyable. So I was willing to forgo it. It might sound pitiful, but it was sadly true. And if those are your goals, you can live life on the cheap — especially if you haven’t got expensive tastes to begin with.
Instead my life would be a somewhat solitary one. I’d move to a regional area and be on my own. I’d hopefully make friends…