I was checking my expense this year and found out that I will be spending around 5% more than last year, but at the same time I have saved around 1.3% more. Now it's good that I have saved more than last year but at the same time, I am not happy with the expense.
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Now the expense is contributed for variety of reasons like the inflation has increased, school fees has increased by more than 10%, rent increased by 5% and at the same time my salary also increased by 6.5%. So overall the expense increased by 5% but also my investment increased by 1.2%. I thought of investing 35% this year but it's not happening and I am stuck with 31.2% only. Though it's not that bad but saving only 30% will not help me retire early.
Either one of your investment skyrocket. In my case if Hive goes to 10$, I can retire today itself. Or you have to save more than 50% so that in some years you can retire early. In my case both is not happening, so the retire early part is not happening. But again I will recheck by the end of this year to see if the stats is increasing or not.
I have been checking my expenses from the last 3 years and found out that year to year the expenses have increased by 10% which is ok because the inflation is also around the same range. Along with that the investment have also increased by around 15% which is also at the good range. Now the target is to reduce the expenses and increase the saving. And eventually I can get there. My next target for the next few years is to get to the 50% saving mark. And hopefully i can get there.
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