How I track my finances using spreadsheets Part 6: Historical Income and Expenses, and Time to Broke

Hi RIP readers,

we have another lightweight “on the beach” post today.

I know, my public spreadsheet is getting way too big (and a bit slow), and I should probably pull something out.

Not today though.

I’ve been playing a bit too much with my Net Worth Spreadsheet lately, and ended up adding a few extra sheets that I’d like to show you today. I’ve added sheets to monitor income and expenses across multiple years (I’m tracking them in detail since beginning of 2016), and a mini retirement calculator.

Let’s look at them one by one

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One Dollar Coast FIRE and Generational Wealth

Hi RIP readers, first things first: today, five years ago, I’ve published the first post on this blog.

Happy birthday retire in Progress 🙂

Ok, enough for a celebration. Let’s get started.

Today topic is a lightweight one, it’s a “on the beach” kind of quick post – in fact i’m actually on the beach for a couple of weeks.

So, while I’m enjoying Apulia’s coast, why not talk about coast… FIRE?

Simply explained, Coast FIRE is a financial milestone that, when reached, it means you can stop saving money (i.e. you can spend all your income) while your current Net North snowballs you into Financial Independence at traditional retirement age (for example, age 65).

There’s a weird loophole, a paradox in this money game that makes me think about it from different angles. Let’s try to decompose it and see where this summer beach thought will bring us.

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Lifestyle inflation and Early Retirement: Nat is Wrong

Hi RIP readers,

I mentioned several times how much I like almost anything Nat Eliason writes or does.

– I purchased his Effortless Output with Roam course when price was 100 USD (and got 100 USD Roam credits for this).
– I linked four of his articles in my first WLJ post, two of which I’ve read and re-read many times.
– I’ve bookmarked in the “Awesome” category more than 10 of his posts about skill building, about writing, about thinking, some of his book reviews (The Elephant in the Brain is the best one), about the reproducibility crisis in psychological experiments, about social disobedience, about passive income, and many more.

I also liked his old post about Financial Independence. Nothing new, but seeing that Nat in on board with our “movement” made me feel in good company 🙂

Ok, today I want to write a review of his latest post on the 75% Rule for Lifestyle inflation & Early Retirement.

Dear Nat, even if the message you want to broadcast is very good (telling people to not splurge all their salary raises), I think your math is wrong on so many levels!

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Coronavirus April Journal 2020 Day Update 73 – Mashup Edition

Hi RIP readers, It’s May 2nd 2020 as I start writing this post, which is: A Coronavirus Journal, Day 76. Btw, I started counting the days since Market top (Feb 19th 2020), so it’s not strictly Covid related, but more “financial impact of the Covid”-related A (quick) April 2020 Financial

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Will I be comfortable withdrawing from principal in Early Retirement?

Hi RIP friends, FIRE math is easy, isn’t it? You work for a decade or two (or half), save a shit-ton of money, at least 50% of you income, accumulate accumulate accumulate, experience the good feeling of watching your bank account go up up up, invest invest invest to make

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European Early Retirement Guide – a Call to Action

Hi friends, Today I have an unusual post for you. This post is a call to action for you to join me in a project that has been sitting in the back of my mind for almost a couple of years. I think time has come for a public kick

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What if I Retire at 65?

Hi RIP friends, I just jumped out of the shower, whose definition on RIPipedia is: The shower is the place where 99% of blog ideas show up but get lost after 10 seconds because you don’t have pen and paper and your memory is so degraded that Guy Pearce’s character

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Playing with FIRE

Hi RIP friends, you won’t believe this: a short post by Mr RIP! Yeah sure RIP, when you start like this it always ends up with thousands and thousands of words… No, trust me! I don’t have time anymore for anything, I’m a father now and I’m supposed to be

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Money is not the problem: meet Joe

Hi RIPpers, As you know, at Hooli we’re all multi-billionaire! Why? Came on, You know why! I’ve always been open about my salary and… “Yeah, you earn a lot of money, but that’s probably because you’re a Director or a VP or what? The CEO??” No, I’m actually one of the lowest leveled

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