Race to 100% FI! (With a Poll added to track your progress!)

[MudPuppy]

@SwordGuy i love how encouraging you are in this thread!

[diapasoun]

I am at a whopping 6.5%... but that's up from 2.9% earlier this year. Chug chug chugging along! One day I too will benefit from crazy compounding. ;)

11% now, a year later -- I get to change in the poll!

Slowly making my way forward. \o/

You're starting to get to the point where compound growth starts to noticeably kick in to help you out!

I am! It's starting to be a thing and I am enjoying it. (I'm also wondering how well I'll handle the next great market tumble, because so far the rises and tumbles both have only been in the four figures -- at some point in the next year or two it's gonna hit five figures rises and tumbles and that will be a New Thing for sure. Good thing I have been prepared to steel myself against it.)

ETA: Agreed that I love how encouraging this thread is -- thanks. :3

[SwordGuy]

You're starting to get to the point where compound growth starts to noticeably kick in to help you out!

I am! It's starting to be a thing and I am enjoying it. (I'm also wondering how well I'll handle the next great market tumble, because so far the rises and tumbles both have only been in the four figures -- at some point in the next year or two it's gonna hit five figures rises and tumbles and that will be a New Thing for sure. Good thing I have been prepared to steel myself against it.)

Oh, that's easy!    When the market goes up, you say, "Yeah!   I have more wealth!"   and when it goes down you say, "Yeah!   I can buy wealth more cheaply!"  :)

[diapasoun]

You're starting to get to the point where compound growth starts to noticeably kick in to help you out!

I am! It's starting to be a thing and I am enjoying it. (I'm also wondering how well I'll handle the next great market tumble, because so far the rises and tumbles both have only been in the four figures -- at some point in the next year or two it's gonna hit five figures rises and tumbles and that will be a New Thing for sure. Good thing I have been prepared to steel myself against it.)

Oh, that's easy!    When the market goes up, you say, "Yeah!   I have more wealth!"   and when it goes down you say, "Yeah!   I can buy wealth more cheaply!"  :)

That's been my strategy so far! Let's hope it holds up. :)

[EscapeVelocity2020]

You're starting to get to the point where compound growth starts to noticeably kick in to help you out!

I am! It's starting to be a thing and I am enjoying it. (I'm also wondering how well I'll handle the next great market tumble, because so far the rises and tumbles both have only been in the four figures -- at some point in the next year or two it's gonna hit five figures rises and tumbles and that will be a New Thing for sure. Good thing I have been prepared to steel myself against it.)

Oh, that's easy!    When the market goes up, you say, "Yeah!   I have more wealth!"   and when it goes down you say, "Yeah!   I can buy wealth more cheaply!"  :)

That's been my strategy so far! Let's hope it holds up. :)

This time it's different ;)

[SwordGuy]

Let us all know how you're doing at the end of this crazy year!

We're still at 110%+ and FIRED.    And very happily so!     We just dropped our annual expenses by paying off our mortgage AND we upped our annual charitable donations substantially.   Over $14,000 this year and next year we're likely to get up to $16,000.

[2Birds1Stone]

We just moved to the 110%+ and Not FIRE'd cohort.

[MudPuppy]

Bumped into the next poll option at 10.2 as of today.

[SwordGuy]

We just moved to the 110%+ and Not FIRE'd cohort.

Well, I won't cast any stones about being EXTRA SURE before one up and quits, 'cause if'n I did folks who read my journal would call me out on it.

[SwordGuy]

Bumped into the next poll option at 10.2 as of today.

@MudPuppy , good job!    That's a major life accomplishment because it means you can roll with a whole lot of the dammits life tosses at you every so often.   Much better for them to be a nuisance rather than a disaster!

[monarda]

Our rental expenses vary, so I'm basing the number just on this year's rental expenses to date. We did a lot of work on the properties so it's going to be a bit of a high year.  And we really aren't totally decided on our FIRE number, but for this poll say, let it be $50,000. Then we're at 64% or better (in a more typical year for rental expenses). Cool.

Changing my number and my poll vote because I asked the retirement office for an official estimate of my pension, which is much higher than the guesstimate I used to reach the number above. So now we're at 75%

Changing my number and my poll vote again because I see an error in my rental income spreadsheet -  I've double deducted my rental insurance premium- whoopsie. And I put in this year's rental expenses, which are lower than last years' and are more typical of a normal year's expenses. Fixed that and now at 102%. Whaddaya know. Hasn't sunk in quite yet.

We just did a cash-out refinance because next year is going to be an expensive year for the rentals (roof, paint job, sewer). We're temporarily at 107% now, but after all of those 2021 expenses** we'll dip down below 100% and need to build reserves back up. Hoping by 2022 to be back where we are now.
 
**But then all three houses will have a new roof and fresh paint, so we shouldn't have big expenses for quite some time after that.

[SwordGuy]

Our rental expenses vary, so I'm basing the number just on this year's rental expenses to date. We did a lot of work on the properties so it's going to be a bit of a high year.  And we really aren't totally decided on our FIRE number, but for this poll say, let it be $50,000. Then we're at 64% or better (in a more typical year for rental expenses). Cool.

Changing my number and my poll vote because I asked the retirement office for an official estimate of my pension, which is much higher than the guesstimate I used to reach the number above. So now we're at 75%

Changing my number and my poll vote again because I see an error in my rental income spreadsheet -  I've double deducted my rental insurance premium- whoopsie. And I put in this year's rental expenses, which are lower than last years' and are more typical of a normal year's expenses. Fixed that and now at 102%. Whaddaya know. Hasn't sunk in quite yet.

We just did a cash-out refinance because next year is going to be an expensive year for the rentals (roof, paint job, sewer). We're temporarily at 107% now, but after all of those 2021 expenses** we'll dip down below 100% and need to build reserves back up. Hoping by 2022 to be back where we are now.
 
**But then all three houses will have a new roof and fresh paint, so we shouldn't have big expenses for quite some time after that.

@monarda,

I understand how that works.   We have 2 roofs and 2 hvac units coming up in the next few years, but everything else is still pretty darn new.

[Monkey Uncle]

Still in the 110%+ and FIRED group.  I'm coming up on my 3rd anniversary of FIRE.  Our net worth has increased by 10-15% during that time, despite spending a lot of extra money in 2019.  I can't take credit, though; just benefiting from the lucky market streak.

[Much Fishing to Do]

Crazy year so far, huh?  March 2018 was at about 78%, April 2019 at 97%, Started 2020 at 100%, Feb high of 103%, dropped to about 78% in March, now back to 101%.  I better hurry up and RE before it turns again ;-)

Looks like I hit 110%+ now.  I thought for sure during much of the year this would be my first year in 20 where my net worth was going to drop, but instead its up over 2x annual spending.

[fuzzy math]

Moved from 40% to 60% this year!!!

[SwordGuy]

Moved from 40% to 60% this year!!!

Way to go! @fuzzy math

[ScreamingHeadGuy]

Still 110%+ and NOT FIRE.  I still plan to change that condition in a few months (and hope the global financial conditions don’t make my category change in a direction different than my plan). 

[skip207]

Great thread, never saw it before.

TNW = 92% of goal.

However like you say a disconnect as a lot of my TNW is property (primary res) and pension, that I cant touch for another 16 yrs.

Sooo... my actual % is 46%.  But its growing fast, real fast.  My current "predictor-matic-5000" has me anywhere from 20-28 months out from 100%.

By which point I have a feeling I will be at c.110-115% TNW goal.

So, anyway I will vote 40-50%.

[SwordGuy]

Great thread, never saw it before.

TNW = 92% of goal.

However like you say a disconnect as a lot of my TNW is property (primary res) and pension, that I cant touch for another 16 yrs.

Sooo... my actual % is 46%.  But its growing fast, real fast.  My current "predictor-matic-5000" has me anywhere from 20-28 months out from 100%.

By which point I have a feeling I will be at c.110-115% TNW goal.

So, anyway I will vote 40-50%.

Glad you like the thread!

I think it's really good to track the "% To FI" .   It's a good exercise to focus on the numbers that really matter! :)

[SwordGuy]

Ok, everyone, it's that time of year to update your Race to 100% FI polling!

[SotI]

Moved up to 39% if I only cover the target level minus the part covered by my expected pension.
Without the pension coverage, I am at 24%.

Moving along, slowly, but on track for FI by 2029.

[DadJokes]

Answer changed as we have surpassed 10% - we should hang out in this range for a couple years

[SwordGuy]

Answer changed as we have surpassed 10% - we should hang out in this range for a couple years

10%!!  That's awesome!   That means you've got the savings to turn most disasters into nuisances and that's a real life-enhancing superpower!

[Mmm_Donuts]

We went from 75% when I first answered this poll, to 62% in the covid dip, to now ~90%. It's a roller coaster.

Now at 100-110% and not FIREd. (Technically semi-FIRE).

It's odd, I thought I'd be really happy about hitting this FI milestone, and I am feeling maybe more relieved than thrilled, because it seems like so much of the world is suffering right now. And this year has been so up and down. I skipped a level in this poll, just in the past few months. Still going to hang on to the jobs - I think this needs to sink in and feel more real.

[alcon835]

We went from 75% when I first answered this poll, to 62% in the covid dip, to now ~90%. It's a roller coaster.

Now at 100-110% and not FIREd. (Technically semi-FIRE).

It's odd, I thought I'd be really happy about hitting this FI milestone, and I am feeling maybe more relieved than thrilled, because it seems like so much of the world is suffering right now. And this year has been so up and down. I skipped a level in this poll, just in the past few months. Still going to hang on to the jobs - I think this needs to sink in and feel more real.

Wow! Congrats @Mmm_Donuts ! Out of curiosity, are you holding out on FIRE because you like your job? Because you are scared of the optics or retiring during everything that's going on? Because you feel 110% of FIRE isn't a strong enough buffer? What's really holding you back from setting a retirement date and putting in your notice?

[SwordGuy]

Ok, the final numbers can now be calculated!   

Get busy!   Update your FI % in the poll and tell us a bit about it in the comments!

[bbates728]

Went from 5% to 15%! Wheeee!

[goat_music_generator]

Just crossed over to 101%!

[SwordGuy]

Went from 5% to 15%! Wheeee!

@bbates , oh, that's GREAT!    You're at the point where most disasters become inconveniences.

[SwordGuy]

Just crossed over to 101%!

@goat_music_generator , hurray!   Are you retiring?

[goat_music_generator]

Just crossed over to 101%!

@goat_music_generator , hurray!   Are you retiring?

Yes, most likely in a week or two :-)

[Lucky Recardito]

10/1/2017: 15.5%
10/1/2018: 19.6%
10/1/2019: 22.9%

Updated stats:
10/1/2017: 15.5%
10/1/2018: 19.6%
10/1/2019: 22.9%
01/1/2021: 36.4%

2020 was a very good year for us financially, despite the worldwide dumpster fire. Jobs stayed stable; market went bonkers-high; small inheritance. Onward!

[robartsd]

At the beginning of 2020, our investment accounts were about about 10% of our target amounts (adjusted for inflation and expecting approximately 50% of retirement spending to come from a pension). At the end of 2020 they are at about 18% of this target. Using the cash out value of the pension contributions thus far, we would be 14% FI. Minimum age to take the pension is just over 6 years away, projected FIRE is currently about 11 years away.

[Much Fishing to Do]

Just crossed over to 101%!

@goat_music_generator , hurray!   Are you retiring?

Yes, most likely in a week or two :-)

Heh, definitely no OMY issues here!

[RWD]

I've bumped up to the 70-80% bracket. Extremely close to 25x of current expenses.

[ScreamingHeadGuy]

Response changed because my status changed last week.  Yee-ha!

[SwordGuy]

@ScreamingHeadGuy , I'm guessing you moved up the %FI scale, which is awesome!

[SotI]

Updating b/c I cracked the 40% bracket! (42.3% on the investment part accounting for expected pension)
W/o pension, I am still at lowly 27.5%.

Still, progress is progress ....

[SwordGuy]

Updating b/c I cracked the 40% bracket! (42.3% on the investment part accounting for expected pension)
W/o pension, I am still at lowly 27.5%.

Still, progress is progress ....

42.3% is AWESOME!    So is 27.5%!!!

At 27.5% outside of your pension, you can take a major hit in income and still be ok.    You can have some expensive dammits and recover fairly quickly from it.

[SotI]

42.3% is AWESOME!    So is 27.5%!!!

At 27.5% outside of your pension, you can take a major hit in income and still be ok.    You can have some expensive dammits and recover fairly quickly from it.

Thank you for the encouragement. I have definitely made good progress since I found this forum, just shame it took me so long (I was more the YOLO type before, just lucky that I am not a natural big spender).

[maisymouser]

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...!

[SwordGuy]

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...!

If you do nothing but let your stash compound at historically average US stock market rates, you'll be at 44.4% FI (in today's dollars) in ten years.

Anything you add to it will speed that up rather nicely!

[FLBiker]

100%-110% and not fired feels right.  Really, I guess the issue is that I'm not SURE we're at 100% -- we've hit our number, but we recently moved from Tampa to Nova Scotia, and I want to make sure our expenses are basically the same.  Realistically, though, DW and I both will probably work part-time (at least during the school year) so we're definitely at the point where we could do that.  I'm working FT, and DW is looking for PT work (starting in the fall).  With the move, my employer has engaged a PEO to employ me legally in Canada starting in July, and I want to give them a year or so of that before I quit / shift to part-time because there were some initial expenses they incurred in setting it up, and they did it entirely at my request.

All that is to say -- 100% and not fired, but reasons. :)

Oh, and just to give a quick sense of timing, here's our progression.  And we're all low-cost index funds (ie no real estate rentals or dividend focus).  Compound interest really is amazing!

Jan 2013: 18%
Jan 2014: 25%
Jan 2015: 29%
Jan 2016: 32%
Jan 2017: 44%
Jan 2018: 56%
Jan 2019: 56%
Jan 2020: 73%
Jan 2021: 100%

[maisymouser]

Congrats @FLBiker !!! I am at 22.2%. I am hoping you are right about the trajectory, I am also solely in low cost index funds. Planning to plug away for at least 5-6 more years!

[SwordGuy]

@FLBiker , I totally understand treating people right, especially when they've gone out of their way.  It's good karma!    A year or two and you'll have an extra padded stash, plus if you don't like it in the new area, you won't feel financially stuck there.   Sounds like a plan!

[MudPuppy]

Bumped into the next poll option at 10.2 as of today.

And not quite 4 months later, we are at 14%. Our spending has been wild, so I only have the markets to blame/thank for the increases.

[PlanetDee]

I voted a long time ago in the 40-50% bracket.

Just calculated today and have moved to 52%!

[SwordGuy]

Congrats everyone on your progress!

[Loren Ver]

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]

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.