April 2014 progress

I have started tracking the amount needed to retire based on the 4 percent rule. Seems that at my current savings rate of 45% of after tax income it will require another 5-7 years depending on investment return assumptions. I’m currently assuming around 5% above inflation of 6%.

Am tracking monthly expenses with 22seven. Budget seems to be fine. Want to check a few expenses and alternatives.

Need to check:
1. Life insurance – do I need cover or for Mrs.
2. Home and car insurance – perhaps third party only? Or higher excess? Discovery insure with cash back?
3. Groceries – discounts, bulk…
4. Gifts – discounts,  sales and pre season shopping. Online and bargaining.

Just some areas to focus on for potentially reducing expenses. Easier to retire off low expenses than replace high income. More importantly get to spend money on things I really want.

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