We are back with Part 2 of Darcy’s story on how she rolled up her sleeves, saved and invested her way to fulfill her dream of sailing around the world on her terms. Darcy shows you that it can be done! Part 1 was last Tuesday. If you missed it, make sure you check it out!
On the income side, the changes we embraced didn’t have nearly as much instant gratification. We changed employers for a pay boost, or took on new titles within the same company. We moved to a higher cost-of-living area for an income increase, certain that we could bank the extra without a commensurate increase in expenses. We tried out a variety of side hustles, like renting out a room on airBNB or taking up a once-weekly bar shift for fun money.
The really scary thing we did on the income side was start investing. Fundamentally, I knew that the kind of money we were saving up needed to be invested, but I didn’t have the first clue about how to get started. I began reading, consuming paragraphs on nebulous topics like asset allocation, which didn’t answer my questions about exactly how to start a brokerage account or which shares to buy.
Before I was really ready (are you ever really ready?), I bought some individual stocks with a few hundred dollars – one of those was JCPenney, which is almost worthless today! But I started having a real stake in the market. It was enough to get me to pay attention to the market movements.
I eventually stumbled on an informative blog with an excellent stock series (jlcollinsnh.com), and started doing things like maxing out my 401(k) and investing in broad market index funds. Soon Kyle was doing the same thing.
All that combined – the saving, the income, and especially the investing – changed our lives.
Tune in next week for Part 3 of @teal.tales journey ⛵⛵⛵