Fire Goal 1: Passive Income
Passive income Milestone 1: 1270 EUR
The first goal I am setting myself is to get a passive income of 1270 EUR. I am well aware this is a high goal I set for myself. But its rather symbolic. 1270 EUR was my very first wage after graduation. If I could get this again, even before inflation, it means I have reached a stage where I could maintain myself without working
Passive income Milestone 2: 2700 EUR
The second goal I have is much higher. 2700 EUR would allow me to have a car, and pay off a loan for a house.
Passive income Milestone 3: 4200 EUR
The last goal I have is 4200. Should I ever reach this I will know for sure I never “have” to work anymore. It would allow me to never have to worry about money, and spend whatever I like (within reason of a normal life), travel as much as I like, wherever I like, do whatever hobby I like to do and still have money left to raise a family if needed.
Fire Goal 2: retirement age
As a retirement age, I have set myself the conservative goal I want to have the option to retire before I reach 50. That does not mean I will retire, but it would be good to have the option. I will review this age when I am further down the line in Fire.
I will review this age next year when I have a better view on the rise of my passive income.
Fire Goal 3: Buying a house
I know a lot of people who are going for Fire, do not buy a house. For me its really important to have a house anyway. At the same time, I do not feel rushed. I live in an apartment right now, and since I am convinced about Fire, I feel I can wait much longer to buy a house, and do not need to put myself into a lot of debt right now.
Goals by end 2019
Ok 2019 is almost over but still I wanted to set myself a few reasonable goals
- 4350 EUR extra invested in ETFs
- 25.000 EUR invested in peer to peer lending (total)
- Buy off university years (so they count as working years towards retirement age)
- Make 5500 EUR in 2019 (Investment returns – unrealized + passive income)
- Earn a passive income of 100 EUR / month (by December)
Goals by end 2020
I am still thinking a lot about these goals, and I might still change them near the end of the year, but the bellow goals do seem reasonable:
- Invest 12000 EUR in ETFs (additionally)
- Invest 18000 EUR in p2p (additionally)
- Invest 1200 EUR in startups
- Make 7000 EUR in 2020 (Investment returns – unrealized + passive income)
- Earn a passive income of 300 EUR / month (by December)
- Earn 500 EUR with Airbnb
- Make 1 EUR from this blog
- 3% more saving rate then in 2019 (for the months where there is data)