Project 1000: May 2018 – 1000 days to Freedom

Welcome to the first post in the Project 1000 series! I will share the progress of our 1000 day journey to freedom here once a month. If you have not read our plan yet, I recommend you do so now and then come back here. This month marks the official start of Project 1000. Today, we will establish our starting point.

Overall Goal

We have been working towards FI since January 2016, so of course we don’t start Project 1000 from zero:

We start Project 1000 with a bit over 1/3 of our overall goal complete, so we have a lot of work to do over the next 1000 days!

Here are the individual buckets that make up our total goal:

As you can see, we have already filled our emergency fund and are currently working on getting to Flamingo FI as quickly as possible. We will be filling the buckets in the order shown above.

Flamingo FI

Flamingo FI is the most important part of our goal and our ticket out of the rat race. The other three buckets are nice additions, but Flamingo FI is the centrepiece of our plan. This is why we will give it its own section in our monthly update.

Let’s have a look at the progress we’ve made since we started building our nest egg in January 2016:

As you can see, we didn’t start at zero thanks to Mr. Flamingo’s Super, but other than that, we didn’t have any assets.

This is what our current asset allocation looks like:

We currently hold a lot of cash. This is because we are planning to buy an investment property in the next few months and are currently saving up a 20% deposit.

 

There you have it – the full picture of our current financial situation and the starting point of Project 1000. Check back in next month when we will share our first progress update!

2 thoughts on “Project 1000: May 2018 – 1000 days to Freedom”

  1. I like your plan. The idea of 12.5% of your annual salary, which will meet all of your future life expenses — great idea. We are now FI and if I had realized how much lower our expenses would be now, we would have quit (retired!) years earlier. I think you’ve got an interesting way of setting your goals.

    And congratulations on your first steps of the journey. You’ve already done 4 out of those 1000!

    Reply
    • Thanks for the kind words, Susan!
      We are planning on saving 12.5x our future annual living expenses. I wish 12.5% of our annual salaries could cover our expenses!! 😉
      Congratulations on achieving your goal! It seems many people, once they retire, feel like they worked for too long and should have retired sooner. Thanks for sharing your experience, it’s great encouragement!

      Reply

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