How to retire WELL as a couple on just R13 333 a month

In my previous retiring well post I tried to find places where a couple could live comfortably on Just R10 000 a month. That would mean the happy couple would only need to save up R3 million in total, or R1.5 million each.

This was what I considered the lowest level of income needed to sustain a fairly normal life. Sure there are cheaper places than that, mostly in India, but I doubt there would be any cheaper places my wife would want to live in.

And as promised, that post was the start of a series. We’ll be moving up in the amounts until we get to the point where comfortable living anywhere in the world is pretty much possible.

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My 2018 spending – What’s measured gets… saved?

Like I mentioned last year, up until 2018 I’d never actually used a budget myself. I was being a terrible example, telling everyone else what to do, and then doing the exact opposite myself. I was just like, um, well pretty much every politician I’ve ever heard.

So what happened when I actually set a planned budget. Did I stick to it, or did I just carry on spending as and when I felt like it?

Let’s get straight to the numbers.

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How to retire WELL as a couple on just R10 000 a month

This is a cat on a toilet

This is a cat on a toilet. If you think it has absolutely nothing to do with personal finance you’d be very wrong as you’ll see in this blog post.

Last week was my first full week back in South Africa for two months. In that time I went to Madagascar, Portugal, Spain, England, Germany, Durban*, Tanzania and Mozambique. Five of those were work, or at least as much work as it is having an utterly great time flying drones all over the show! If you’re interested I’ll put a few photos at the end of this post.

Now you might be thinking after all that traveling that it would somehow be out of my system, but like most addictions, doing more makes you want more, and all it’s done is made my wanderlust much worse. Happily, wanderlust can be a very positive part of early retirement, as you saw with the previous post about Andre and Lisa who’ve been traveling through Europe for the past 6 or so months. Not only because it’s been scientifically proven that spending money on amazing experiences can actually buy you long term happiness, that learning a foreign language helps stave off Alzheimers or that travel is scientifically proven to lower your risk of death. All of those reasons are fantastic of course, but did you know that retiring abroad can also be a financial benefit?

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This couple retired at 36 and 45, here’s what they’re up to now

Trip of a lifetimeIt’s been a year since I interviewed Andre about his amazingly well executed plan to retire very very early, and it was the most popular post on this site in the past 12 months. At the time they had expected to leave the working work in a years time when he’d be 46, and his wife Lisa just 36! Like so many things, life doesn’t always go according to plan.

Now if you’re expecting me to tell you that they realised their madness and that it’s actually impossible to retire when you’re so young and especially when you have idiot presidents stealing all the money or blowing their trumpets and trying to ruin the global economy you’d be wrong. Instead of taking another year they moved their plans forward!


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The 5% rule that has never failed

The 5 percent rule

I fixed it

Dear Investor Challenge

I’ve been saving and investing a third of my take home pay for quite a few years now, and even though I have nearly R7 million (R6 and 3/4 million to be exact!) invested, at my current savings amount of R15 000 a month, it’ll take me another 4 years to get to the R9 million I need to be able to retire spending the R30 000 a month I do now.

By then I’ll be 48, and who knows if I’ll still be able to go cycling through Europe, hiking in Patagonia or backpacking through Asia.

Surely there’s a way to speed things up a little?

Ms Impatient Saver

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The returns don’t matter

Dilbert's broker

URL: http://dilbert.com/strip/1992-7-10

A couple of weeks back I went to go wish Kristia and the rest of the Just One Lap team a huge congratulations on their 100th podcast. It’s a fun show to listen to, nothing like the rubbish you’d see on CNBC, or the meaningless drivel you’d read in a typical finance paper. If you have some time on your hands go and give a few shows a listen here.

To celebrate this massive milestone, they’d planned to interview Sam Beckbessinger about her wonderfully titled book “Manage your Money like a F*cking Grown Up“, but being from Cape Town meant that Sam hadn’t experienced real Joburg traffic yet, and was running late.

That meant that instead of starting with Sam, Kristia cornered me and asked if I’d be happy to step in as an opening act of sorts, like when the Beatles opened for Roy Orbison, she never said 🙂

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My 15 minutes of fame

Kristia from Just One Lap grabbed me at the 100th podcast celebration as the other speaker was running late. Happily she never told me it was going to be recorded, or even that I would be speaking otherwise I’d have been far more nervous  :-X

Take a listen here: https://justonelap.com/podcast-how-to-be-financially-independent-with-patrick-mckay/

And if you’d like to follow me on twitter, click here: @worldisee

You need a TFSA and here is the only place you should get one

Moving GoalpostsOnce upon a time when I was young and stupid I had the idea that it would be nice to have a large house on an expensive property so I could impress my friends, show off to people I didn’t know and win the love of Keira Knightley who would one day walk past gasping in my awesomeness before rushing inside and switching her outfit for Nutella.

A short while later the golf club near where we used to stay decided to become a golf estate, and I jumped on the opportunity to buy a stand there. I wanted a boundary stand rather than one on the golf course edge. There were three reasons for this. Firstly I have a friend who lives on the edge of a golf course, and he needs to replace a window at least once a month, and that would affect my allergy to housework so it just wouldn’t do. Then of course it’s cheaper to be on the fence than on the course, and I do love a good deal, and finally as I lived on the same street, I knew that the area on the other side of the fence was earmarked to be a permanent greenbelt, and it was going to be stocked with game.

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