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Thank you to all who contribute regularly here at /r/FinancialIndependence I first stumbled on this subreddit four years ago and have since committed myself to getting my finances in order. My wife and I married three years ago and I’m so thankful that we started our marriage with a strong foundation for financial success.
Our savings rate has grown from 35% in 2016 to 42% in 2018. We are both 31 years old and our combined income is $95k. During this time, we paid off our duplex and moved into a single family house of our own. We also finished paying our modest student loans and her car payment. Most importantly, we welcomed our first son into the world last year. Although we are far from RE, I feel assured knowing that we have reached a healthy state of FI. Our assets hover around $350k (rental, 401k, IRA, and HSA) and we have another roughly $55k in home equity.
Her parents recently purchased a small lake cottage an hour north of our hometown and we are excited to spend our weekends there this summer. This place will be the setting for many family memories. This past week, we made the most anti-FIRE decision I can think of and bought not one, but two boats. Personal watercraft, technically speaking. Although we paid cash and bought two-year-old models, we completely recognize that this purchase is pure luxury.
That said, it’s only because of FI that we feel confident in our decision to splurge. We can afford this purchase, and while it may delay our other financial goals a bit and impact our SR this year, I know that the laughs and memories will be worth the sacrifice. I have my captains license and her family loves boating, so we know what we’re getting into with this purchase.
Not sure why I’m even sharing this, only to remind others that there are goals outside of work and money and savings rates. When an opportunity presents itself, don’t forget the real reason why we save: to ultimately enjoy quality time making memories with those we love.
I think I needed to read this. I see a lot of good stuff in this subreddit but I think sometimes we fail to realize that we could die tomorrow and never have a chance to enjoy what we've worked so hard for. Sometimes it's necessary to splurge and take some time to enjoy life.
I can think of and bought not one, but two boats. Personal watercraft, technically speaking. Although we paid cash and bought two-year-old models, we completely recognize that this purchase is pure luxury.
So you bought waverunners.
Waverunners trump FI. Every time. Never apologize for what you did.
Not sure why I’m even sharing this
You wrote your post because you're a bit guilty and want to test the waters on whether it was okay or you're on the way to being homeless and bankrupt. You'll be okay. Maybe also as inspiration because being good with money lets a person buy wave runners with cash.
bought not one, but two boats.
Appropriate user name