My Fire goals redefined | September 2019 update

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

Status: todo

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)