Archive of posts from October 2022
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Our Income Sources In Retirement
While I mentioned my retirement income sources many times before in my blog, I still get questions about that. So I thought I will revisit our income sources after our early retirement in 2018. It has been more than 4 years since we retired and nothing has changed in terms of income sources. I think most people are skeptical when I say I retired early and wonder if I am getting income from multiple sources. Actually that would be a good, probably correct way to retire early. But like many things in my life, I have taken huge risks with very little recourse if things fail. Having a plan B means I don’t have enough trust in Plan A. So plan B really is to make plan A work (you heard that one before didn’t you?). So in this post I will list out all our income sources again.
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Expenses Revisited: 2022 Edition
Hopefully you understood how I funded the purchase of a new car. The summary of it is that I already anticipated all kinds of expenses I might encounter in retirement and then some (called as miscellaneous). Based on those expenses I figured out a corpus big enough to handle not just our living expenses (called as monthly expenses), but the major expenses such as buying a car or laptop or new furniture etc called as annual expenses. I will get to that number in a minute. So using my investments, I was able to fund my car. Basically, I sold a few units of my debt mutual funds and paid for the car in full. In this post I would like to revisit our cumulative expenses and corpus as on date after the major car purchase expense.
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How I Funded Purchase Of A New Car
If you have been following my past few posts, you already know that I purchased a new car. You might also recall that the budget I set for the new car was Rs. 6 lakhs. In this post I want to answer some of the questions that might be popping in your mind including why I have a specific budget and how I funded it. I have just one portfolio which is my retirement corpus. I don’t maintain different portfolios for different goals, because I only have one goal which is to stay retired for ever :). The retirement corpus is supposed to fund all expenses in my retirement. It could be any monthly expenses like food, petrol, electricity, kids expenses etc. Or it could be some big annual expenses such as buying a car or painting the house etc. If you want more details, I suggest you follow the links above and read about my expenses first. I explained everything in detail.
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Goodbye Alto, Welcome Ignis
This is the continuation of my previous post on buying a new car. As we established, I decided to buy a new car instead of an used car. The reasons are mentioned in my previous two posts. After having shortlisted a few interesting new cars, I test drove a sample from each manufacturer that I was interested in. In the end, I kept coming back to Maruti cars for one big reason – the engine. Of course, the main reason that only Maruti came out on the top in engine quality and not the other Japanese brands like Honda or Toyota is because I excluded them as they did not fall within my budget. If you didn’t already know, I kept a strict budget of Rs. 6 lakhs for buying a new car. I will get into the reasons as to why only Rs. 6 lakhs in my next post.
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The Hunt For A New Car Begins
If you didn’t already know, it was time for my almost 15 year old Maruti Alto car to be re-registered. Like I mentioned in my previous post, I was contemplating whether to renew the registration or buy a used/new car altogether. From what I gathered, it will cost me some 30-40K on my old car to get it registered for another 5 years. The problem was that I was not sure that it will pass the fitness test even with all the repairs. Moreover, the new registration is valid only for another 5 years. I felt it may be better to sell the car and buy another used or a new car instead of spending the money on it. Then I faced another problem which tipped the scale in favor of buying a new car. First, I could not find a decent used car. Second, I found that it was not easy to sell my old car.
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Bought A New Car
I went against my own advice and decided to buy a new car, although I advice everyone to buy an used car. I am a hypocrite. There, I said it. Not just that, but I don’t even follow another advice I often give to everyone which is that they should go with 70:30 split for their equity and fixed income asset allocation. You already know that I don’t follow that rule. So what is my excuse to buy a new car this time? Continue reading to find out. But before we get started, I want to let you know that this is my first new car. Before this I purchased 3 cars and all of them were used cars. If you include Mrs. re-ynd, that is 5 used cards before buying a new one. So this is something really special for us.
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Tools I Use To Repair Electronics
This is a continuation of my previous post on the tools that I have at my disposal when I am building electornic projects. As I mentioned before, this is not the comprehensive list of tools, but it should give you an idea. In the last post I left off at my soldering station. I use a couple of solder tips depending on the work. If I am soldering thick wires or soldering pins to an arduino nano board, I will use a chisel tip because it spreads heat well and makes good fat solder joint. For delicate work I use a thinner conical tip. Other than that I don’t use any other tips.
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Tools I Use In Electronics Projects
A reader asked to me to write a post on the tools I use in my projects. Since my projects range from software to electronics to mechanical, the number of tools I use becomes quite large. So in this post I will cover the tools I routinely use in electronic projects. May be in another post I might cover the tools I use for more mechanical projects such as repairing cycles or scooter, setting up solar panels and batteries, building rain water harvesting pipes, plumbing, drip irrigation etc. If anyone is interested, I might also write a post on the tools I use in software development but in this case the tools vary quite a bit depending on the software. Anyway, lets get straight to the point and do a bit of show and tell of the tools I use in my electronic projects.
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Is It The End Of 4% Rule Then?
I have written so many articles on 4% rule, that it feels like I can make a living by just writing about it. Yet we keep coming back to it because times have changed, or may be the 4% rule does not work in Indian context or because it may not work during recession and what not. The latest in this saga is this article I read a few days ago. Without going into too many details, the article suggests that a new research found that the 4% spending rule may be too high and we should probably go for a 1.9% rule instead. That sucks. I made my whole early retirement planning based on the 4% rule and it seems like I may be doomed.
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