Poll

What's your CURRENT % of your Target Passive Income as of now?

< 0%: I'm Bleeding Money
1 (0.3%)
0 to 5%
15 (4.2%)
5.01 to 10%
12 (3.3%)
10.01 to 20%
39 (10.8%)
20.01 to 30%
26 (7.2%)
30.01 to 40%
30 (8.3%)
40.01 to 50%
30 (8.3%)
50.01 to 60%
38 (10.5%)
60.01 to 70%
27 (7.5%)
70.01 to 80%
20 (5.5%)
80.01 to 90% and FIRED
4 (1.1%)
80.01 to 90% and NOT FIRED
21 (5.8%)
90.01 to 100% and FIRED
0 (0%)
90.01 to 100% and NOT FIRED
18 (5%)
100.01 to 110% and FIRED
11 (3%)
100.01 to 110% and NOT FIRED
15 (4.2%)
110.01 and up, and FIRED
22 (6.1%)
110.01 and up, and NOT FIRED
28 (7.8%)
FIRED, other %
4 (1.1%)

Total Members Voted: 361

Author Topic: Race to 100% FI! (With a Poll added to track your progress!)  (Read 20260 times)

SwordGuy

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Re: Race to 100% FI! (With a Poll added to track your progress!)
« Reply #200 on: April 05, 2021, 09:07:16 AM »
Congrats everyone on your progress!

Loren Ver

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Re: Race to 100% FI! (With a Poll added to track your progress!)
« Reply #201 on: May 08, 2021, 11:01:44 AM »
Refound this going down a rabbit hole and updated.  Still FIREd (2 years) now but currently WELL over 110%.  We can now take a massive hit and still be jolly.  Well, we are always jolly so that isn't saying much. :).

We now have the option and opportunity to split money off the main stash for other long term things, so we are pretty excited about that. 

So glad others are making such good progress too.  Keep it up!

shinn497

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Re: Race to 100% FI! (With a Poll added to track your progress!)
« Reply #202 on: May 08, 2021, 04:21:16 PM »
I'm at 17%

I just hit 89k. With 3.5% SWR and a target income of 1500$/month.

Madfientist's lab says I am just over 9 years away. I think it will be sooner if I can get a paid off house with a couple of paying roommates. 



Realistically though, I don't want to really but I may try to do more remote work or more work on my own terms. I do live my career in software, however.
« Last Edit: May 08, 2021, 04:22:55 PM by shinn497 »

maisymouser

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Re: Race to 100% FI! (With a Poll added to track your progress!)
« Reply #203 on: May 08, 2021, 06:20:57 PM »
At ~22.2%, but am BURNING to get to 30%. That 100% feels so far away when I put it in % form, but hopefully compounding works in my favor within the next decade (the working-to-earn-and-save and frugality are a given). I am stretching for FI by 2029.

LETS DO THIS...!

Came back to update, a little over two months later I am surprised to find I went quickly to 26.0%. A modest bonus helped, and I was promoted recently and am earning ~8% more. When we send our son back to preschool things are sure to slow down, but I am feeling good today about where I'm at.

SwordGuy

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  • Location: Fayetteville, NC
Re: Race to 100% FI! (With a Poll added to track your progress!)
« Reply #204 on: May 08, 2021, 07:20:26 PM »
At ~22.2%, but am BURNING to get to 30%. That 100% feels so far away when I put it in % form, but hopefully compounding works in my favor within the next decade (the working-to-earn-and-save and frugality are a given). I am stretching for FI by 2029.

LETS DO THIS...!

Came back to update, a little over two months later I am surprised to find I went quickly to 26.0%. A modest bonus helped, and I was promoted recently and am earning ~8% more. When we send our son back to preschool things are sure to slow down, but I am feeling good today about where I'm at.

I know it's frustrating at first because the progress seems so slot and a big market drop makes one feel like all the contributions just got lost, too.

But historical average market returns on $100,000 are a bit over $10,000.   If someone is contributing $10,000 a year they are now growing at twice that rate, or 20% increase in savings that year.   If the next year also provides average returns, the growth rate is 22%, because the growth is on $120,000, for $12,000 in earnings.   And it grows more every year even though the contribution stays the same.

Compound growth supplemented by regular contributions is an awesome force!

MudPuppy

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Re: Race to 100% FI! (With a Poll added to track your progress!)
« Reply #205 on: May 08, 2021, 08:14:45 PM »
Up to 15 now!

alcon835

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Re: Race to 100% FI! (With a Poll added to track your progress!)
« Reply #206 on: May 09, 2021, 07:46:08 AM »
At ~22.2%, but am BURNING to get to 30%. That 100% feels so far away when I put it in % form, but hopefully compounding works in my favor within the next decade (the working-to-earn-and-save and frugality are a given). I am stretching for FI by 2029.

LETS DO THIS...!

Came back to update, a little over two months later I am surprised to find I went quickly to 26.0%. A modest bonus helped, and I was promoted recently and am earning ~8% more. When we send our son back to preschool things are sure to slow down, but I am feeling good today about where I'm at.

I know it's frustrating at first because the progress seems so slot and a big market drop makes one feel like all the contributions just got lost, too.

But historical average market returns on $100,000 are a bit over $10,000.   If someone is contributing $10,000 a year they are now growing at twice that rate, or 20% increase in savings that year.   If the next year also provides average returns, the growth rate is 22%, because the growth is on $120,000, for $12,000 in earnings.   And it grows more every year even though the contribution stays the same.

Compound growth supplemented by regular contributions is an awesome force!

Compounding truly is the great builder of long-term wealth.

The longer I go in finance, the more I see and understand compounding and the more impressed by the whole thing I am.

As you said, the beginning feels so tediously slow because the dollar amounts and, therefore, the percentage are increasing at small incremental rates. But each year compounds on the previous and it doesn't take long to see the snowball takeover.

"The Shockingly Simple Math to Early Retirement" is one I re-read from time-to-time just for this reason. Seeing how a person can, fairly easily, become FI if they just live below their means. And how even small increases in contributing makes a huge long-term impact.