Although I’ll be working for a few months into 2013, I decided last year that in 2013 we would invest my salary and live off of dividends, child support and rental income throughout 2013 as a test run for ______? Sabbatical? Early retirement? Alternate employment? Self employment? Not really sure what’s coming down the pipeline frankly but the options will be open and I’ll have the time to figure it out.
To get to where I could manage that, I did a few things:
- cut the over-payments on the mortgage
- cancelled some unnecessary cell phone charges
- re-jigged investments in my taxable account towards dividend payers to bump up the yield closer to 7%
- saved an additional $106,410 in the taxable account last year
- signed up for an Amex card (thanks Joe!) to help defray Xmas costs
- still have to cancel the cable and landline – not because I think TV is evil – just sort of boring, but because we don’t watch it and I don’t know how to get the box off the wall without wrecking things (do cable companies do that deliberately?)
stuff life happened. Life to the tune of ~$600/month:
- dividend cuts
- dividends eliminated
- child support cut
Back to the drawing board – or cutting board in this case. I still think we can make it without dipping into the travel or renovation fund but it’s going to be tight. At this point, it’s almost a personal challenge of ingenuity.
But the kids have got my back. When I told my youngest son about the budget revisions, here were his suggestions:
- eat down the pantry (good idea! the split pea soup is in the slow cooker right now)
- set a limit of $40/week on the grocery run
- buy a good bottle so he can make his own smoothies instead of having overpriced yogurt drinks
- buy a ton of groceries in December
Maybe I should just work longer or quit drinking. Nah, I’ll get on that cable box ASAP.