space kitty

Joe just put out a fun quiz over on his blog, RetireBy40.org, so I thought I’d re-post it here along with my own answers because why not? πŸ™‚

You get one point for every TRUE you can answer, and 0 points for every FALSE.

There’s a key at the end of the post here with what Joe says it all means, and then we can compare notes afterwards and poke fun at each other, cool?

Cool.

Let’s get started πŸ™‚

#1. You know your net worth

TRUE! $636,893.40. Give me my point!!!

#2. You have a Roth IRA

TRUE again! Working on year #8 or so on maxing it out… (hubba hubba)

#3. You have no consumer debt – car, credit card, etc…

#FAIL. We still rock a car loan at around $15,000, even though we can pay it off anytime we want (does that earn me at least 1/2 a point? :))

#4. You have a β€œretire by” date

Kinda sorta maybe? I keep telling myself I want to be financially free by the time I’m 40 (3 years away), but I honestly haven’t done the math in quite a while, prob. because I know it’s not going to happen πŸ™‚

On the flip side, I also don’t plan on retiring anytime soon, so it’s more about trying to get my *lifestyle* down pat right now more than anything else. If I were focused solely on the money here I’m pretty sure you’d have stopped reading this by now, haha… (You get an ad! You get an ad! You get an ad!)

#5. You have a side hustle or two

TRUE and FALSE. I still do some consulting/freelance writing on the side, but not routinely enough to really consider them true side hustles. The majority of my time is still spent on managing this blog here as well as my other one, Rockstar Finance. – both of which very much count as my full-time income as much as I wish they were on the side πŸ™‚ That was one of the things I had to get used to fast when going to self-employment: needing to survive on your side hustles!

#6. You have passive income

I do! Though is it cheating to count your retirement investments? VTSAX is always paying out dividends and compounding while I sleep, but outside of that nah – I haven’t been that great at the “passive” part of making income. I used to think blogging was passive at first, but have since awoken from my dream πŸ™‚

#7. Your investments are worth more than your house

They are! But I also don’t own a house πŸ™‚ Looking back at the time we did though, it looks like our investments were around $400,000 while our house was valued at $300,000. Pretty cool thing to compare though – can’t say I’ve ever done that!

#8. You have a post retirement plan – volunteer, etc.

Yes! My post retirement plan is to keep working on things that I’m passionate about. Which is pretty much what I’m doing now, except without the money worry and business hassle, haha…Β  I still very much struggle trying to mix business with pleasure here, and would love more than anything to just focus on the pleasure πŸ™‚

#9. You save 50% of your household income

HAH! No way… It’s been a while since I’ve calculated it, but a rough estimate right now says we’d be around the 10% range. Nothing to write home about (especially as a financial blogger!), but not at the very bottom either. And I’m totally going to blame my kids on this as they are freakin’ expensive! Most notably, their childcare as we pay just as much for that every month as we do rent – ugh.

So if any of you are feeling down for not saving 90% of your income like other awesome bloggers are doing, please don’t πŸ™‚ As long as you saving *something* and actively working towards increasing it, you are on the right path. Not everyone can save a billion dollars at all stages of their life! We’re all working through them at our own pace, and we just keep doing our best as we go…

#10. You have backup plans

Ummm…. does going back to work count? Haha… I don’t think I’ll ever be above joining the work force again since it’s not the worst thing in the world. Though I feel like those who hate their jobs might have an upper hand here since they’d be MUCH more motivated to stay out for good, vs those of us who enjoy our gigs? A nice hidden perk, maybe?

Bonus point – You cut your own hair

YES!! Though when you have a style that removes 80% of it, it’s much easier to do it yourself πŸ™‚ Also, as Joe admits, this isn’t as fair a question to the ladies out there. So if you’re feeling slighted, here’s a replacement bonus question for you: Do you do your own nails?

Okay – quiz over! How’d you score?

Here’s Joe’s thoughts on what it means about the seriousness of your FIRE journey:

  • 0-5 answered true: Skeptic
  • 6-7 answered true: Novice
  • 8-9 answered true: Committed
  • 10+ answered true: Driven

I gave myself a 6 and 1/2, which puts me smack in the middle of the “Novice” territory, haha… Though I’d like to think it could also be labeled as the “coasters” too? For those of us who have the foundation down, but prefer going at our own pace at this given point in time?

As much as I love money and the challenges FIRE brings, I’ve also come to learn how perfectly okay I am not being “on” all the time too. I wish I could duplicate myself, but for now I just enjoy the ride and hope y’all don’t drink all the beer waiting for me at the finish line πŸ™‚ I’ll be meeting you there some day!

How did you score?

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