Author Topic: Target FIRE: 2017  (Read 252190 times)

Cookie78

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Re: Target FIRE: 2017
« Reply #200 on: June 02, 2016, 08:02:34 AM »
Today marks the start of my 1 year countdown. Wohooo!

Exciting!!

zephyr911

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Re: Target FIRE: 2017
« Reply #201 on: June 02, 2016, 02:01:30 PM »
Today marks the start of my 1 year countdown. Wohooo!
Whoa. I haven't even been thinking about that, but I'm only a couple of weeks behind you. I should have a party or something.... heh
Semi-FIREd December 2017, part-time entrepreneur, lover of puppies and saltwater.

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Re: Target FIRE: 2017
« Reply #202 on: June 03, 2016, 09:25:15 AM »
Today marks the start of my 1 year countdown. Wohooo!

Congrats on your last year.

It's down to 7 months for me. Looks like about 75% (10 of 13) of our Class of 2017 has it down to 12 months or less.
FIRE'd on January 4, 2017

Cookie78

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Re: Target FIRE: 2017
« Reply #203 on: June 03, 2016, 09:46:57 AM »
Today marks the start of my 1 year countdown. Wohooo!

Congrats on your last year.

It's down to 7 months for me. Looks like about 75% (10 of 13) of our Class of 2017 has it down to 12 months or less.

I'm looking forward to getting there so much! "This is my last August 10th at work", "This is my last September working ever", "This is my last Thanksgiving working ever", "This is my last winter stuck in this city at work", "This is my last Christmas vacation from work ever", "This is my last beautiful first day of summer stuck in the office", etc.

I have every other Friday off. Between that and vacations (but not holidays) I have 30 Fridays at work remaining, including this one. If I used up my holidays I wouldn't have to work another Friday!

RedmondStash

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Re: Target FIRE: 2017
« Reply #204 on: June 04, 2016, 08:57:24 AM »
I'm still waffling about my FIRE date; I'm aiming for good solid FI by late this year or early next year, but not sure yet about RE because I like my job.

Does anyone else struggle with wanting not to think about RE too much because you can get obsessive over it to the point where time slows to an unpleasant crawl? I'm finding that vague hand-waving about "maybe sometime late next year" helps me get through more than "January 1, here I come!" The farther away I tell myself the date is, the more comfortable I am buckling down and working.

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Re: Target FIRE: 2017
« Reply #205 on: June 04, 2016, 10:37:28 AM »
I'm looking forward to getting there so much! "This is my last August 10th at work", "This is my last September working ever", "This is my last Thanksgiving working ever", "This is my last winter stuck in this city at work", "This is my last Christmas vacation from work ever", "This is my last beautiful first day of summer stuck in the office", etc.

I have every other Friday off. Between that and vacations (but not holidays) I have 30 Fridays at work remaining, including this one. If I used up my holidays I wouldn't have to work another Friday!

Same here. I like knowing that I've worked my last bitterly cold January and February. And now there are very few beautiful Spring days are left for me to be trapped inside on the hot and dusty production floor.

I've also saved almost all of my vacation for the second half of the year. I am hoping that helps, but going the first six months with almost no vacation days has just added to my stir crazy.
FIRE'd on January 4, 2017

tonysemail

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Re: Target FIRE: 2017
« Reply #206 on: June 04, 2016, 10:53:58 AM »
Today marks the start of my 1 year countdown. Wohooo!

Congrats on your last year.

It's down to 7 months for me. Looks like about 75% (10 of 13) of our Class of 2017 has it down to 12 months or less.

I'm looking forward to getting there so much! "This is my last August 10th at work", "This is my last September working ever", "This is my last Thanksgiving working ever", "This is my last winter stuck in this city at work", "This is my last Christmas vacation from work ever", "This is my last beautiful first day of summer stuck in the office", etc.

I have every other Friday off. Between that and vacations (but not holidays) I have 30 Fridays at work remaining, including this one. If I used up my holidays I wouldn't have to work another Friday!
Thats awesome.   I love that

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Re: Target FIRE: 2017
« Reply #207 on: June 04, 2016, 11:35:10 AM »
My current, "official" target date is June 6th, 2017 (D-Day), just a year away.   

I'm still hoping for closer to January, 2017, though. 

MandyM

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Re: Target FIRE: 2017
« Reply #208 on: June 05, 2016, 06:35:44 AM »
I'm still waffling about my FIRE date; I'm aiming for good solid FI by late this year or early next year, but not sure yet about RE because I like my job.

Does anyone else struggle with wanting not to think about RE too much because you can get obsessive over it to the point where time slows to an unpleasant crawl? I'm finding that vague hand-waving about "maybe sometime late next year" helps me get through more than "January 1, here I come!" The farther away I tell myself the date is, the more comfortable I am buckling down and working.

I am the opposite. I felt more calm once I picked a date. I tweak my spreadsheet less because I made a decision and now its just a matter of getting there. Before I picked an actual day I was constantly forecasting savings and gains and estimating when I would hit the number.

I am still fairly obsessive in general, but picking a date reduced it slightly.
"Freedom lies in being bold." -Robert Frost

RedmondStash

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Re: Target FIRE: 2017
« Reply #209 on: June 05, 2016, 09:33:08 AM »
I'm still waffling about my FIRE date; I'm aiming for good solid FI by late this year or early next year, but not sure yet about RE because I like my job.

Does anyone else struggle with wanting not to think about RE too much because you can get obsessive over it to the point where time slows to an unpleasant crawl? I'm finding that vague hand-waving about "maybe sometime late next year" helps me get through more than "January 1, here I come!" The farther away I tell myself the date is, the more comfortable I am buckling down and working.

I am the opposite. I felt more calm once I picked a date. I tweak my spreadsheet less because I made a decision and now its just a matter of getting there. Before I picked an actual day I was constantly forecasting savings and gains and estimating when I would hit the number.

I am still fairly obsessive in general, but picking a date reduced it slightly.

@MandyM -- Interesting how we're all different. :)

zephyr911

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Re: Target FIRE: 2017
« Reply #210 on: June 06, 2016, 02:33:26 PM »
After some fairly extensive conversations with local friends, I decided yesterday to move forward with a 2nd real estate startup. This makes my quasi-FIRE look even less like full FIRE, but fully cements the timeline - its structure ensures rapid, ongoing returns for me, for not too much work, but enough work that I'll be ready to quit my FT job by next summer. Gonna found as a 2-member LLC for a slow-moving start over the next six months while buying 1-2 solid cash flow properties and negotiating with a few interested parties, and then sign up more partners at year-end and collect equity for a buying spree before the market heats up again in springtime. As the buying agent, I expect initial procurements alone to net out the equivalent of my stake in the form of commission (100% return, <9mos), and while it will tail off somewhat after that, continued buying via reinvested profits should clear me a few thousand a year to supplement my other sources. The best part is, under this arrangement I can keep the expense ratio to my buying partners extremely low by getting all compensation from sellers.
Semi-FIREd December 2017, part-time entrepreneur, lover of puppies and saltwater.

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Re: Target FIRE: 2017
« Reply #211 on: June 07, 2016, 10:17:01 AM »
Zepher911, sounds like a well planned, smart move that will bring in good income.

Are there any downsides to buying off season? If you buy a vacant property, is it substantially harder to find well qualified renters in the winter?
FIRE'd on January 4, 2017

zephyr911

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Re: Target FIRE: 2017
« Reply #212 on: June 07, 2016, 10:48:53 AM »
Zepher911, sounds like a well planned, smart move that will bring in good income.

Are there any downsides to buying off season? If you buy a vacant property, is it substantially harder to find well qualified renters in the winter?
I'm not too worried about it here. My focus area runs fairly high occupancy and I don't mind if they sit for a couple of months while being improved (virtually everything will be substantially upgraded at purchase or at first vacancy under this program). After the first few months we hit the peak move season and it's even less of an issue.
Semi-FIREd December 2017, part-time entrepreneur, lover of puppies and saltwater.

Romag

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Re: Target FIRE: 2017
« Reply #213 on: June 07, 2016, 07:29:53 PM »
Please add me to the group. Looking at June 1, 2017 as well.

I retired from the Army in August 2015 with 22 years. Single, no kids.
1. Pension covers basic living expenses and reoccurring bills (housing association fee and taxes, utilities, food, gas, insurance, Netflix etc.) with a little left over.
2. Paid off townhouse with reasonable association fee and property taxes.
3. Paid off 2015 car.
4. ~$250K in taxable accounts, cash, bonds
5. ~$350 in retirement accounts and will add 401K and IRA $$ for 2016-7
6. Reasonable expectation of a small inheritance
7. Social Security when the time comes

Figure a 2.5-3% withdrawal will leave me an endless supply of money for travel and miscellaneous expenses, based on my current spending.

Planning to do some hiking and camping in the Adirondacks, maybe hike the Appalachian Trail, walk, run, work out...
I have 4 years of GI Bill education benefits and might go for another master's or Ph.D, maybe in NYC - I'd like to live there for a couple of years but not forever.

Feeling great about it. My current job is easy and enjoyable, but I am chafing against the structure of having to "be there" - so my countdown is on!!



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Re: Target FIRE: 2017
« Reply #214 on: June 07, 2016, 07:46:36 PM »

I retired from the Army in August 2015 with 22 years. ...
1. Pension covers basic living expenses and reoccurring bills (housing association fee and taxes, utilities, food, gas, insurance, Netflix etc.) with a little left over.

As a civilian taxpayer, I'm glad to see my tax dollars being put to such good use.   Thanks for your service.

Freedom17

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Re: Target FIRE: 2017
« Reply #215 on: June 07, 2016, 07:52:18 PM »
Please add me to the group. Looking at June 1, 2017 as well.

Welcome Romag!

MrsWhipple     January 1, 2017
FIRE me          January 3, 2017
Myhotrs           March 31, 2017
MandyM           May 1, 2017
Rachael            May 21, 2017
Jack06             June 1, 2017
Fairviewite       June 1, 2017
Freedom17      June 1, 2017
Romag            June 1, 2017
SwordGuy        June 6, 2017
Zephyr911       June 15, 2017
Cookie78          August 3, 2017
Jojo                  November 9, 2017
Jim2001           December 31, 2017
noble_goal       OMY

Romag

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Re: Target FIRE: 2017
« Reply #216 on: June 07, 2016, 08:46:53 PM »
Thanks, SwordGuy. I had a great career and was proud to serve!

zephyr911

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Re: Target FIRE: 2017
« Reply #217 on: June 08, 2016, 10:34:32 AM »
Thanks, SwordGuy. I had a great career and was proud to serve!
Hey there. I'm an Army GS civilian and next June represents my departure from that role. I'll still be an ANG officer until approximately 2022, but I can handle 39 days a year for what I get out of it. ;)
Semi-FIREd December 2017, part-time entrepreneur, lover of puppies and saltwater.

Romag

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Re: Target FIRE: 2017
« Reply #218 on: June 08, 2016, 09:07:50 PM »
Thanks, SwordGuy. I had a great career and was proud to serve!
Hey there. I'm an Army GS civilian and next June represents my departure from that role. I'll still be an ANG officer until approximately 2022, but I can handle 39 days a year for what I get out of it. ;)

Cool - are you at USASAC? I was an Infantryman/Africa FAO. Loved every minute (except an assignment to Army Human Resources Command...)

zephyr911

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Re: Target FIRE: 2017
« Reply #219 on: June 08, 2016, 09:22:41 PM »
Thanks, SwordGuy. I had a great career and was proud to serve!
Hey there. I'm an Army GS civilian and next June represents my departure from that role. I'll still be an ANG officer until approximately 2022, but I can handle 39 days a year for what I get out of it. ;)

Cool - are you at USASAC? I was an Infantryman/Africa FAO. Loved every minute (except an assignment to Army Human Resources Command...)
Hahahaha.. HTC.
Yes, I actually am in the 'SAC... serving my fourth and final commanding general, if all goes according to plan. Don't tell anyone... they might make me work harder if they realize I'm punching out regardless xD
Semi-FIREd December 2017, part-time entrepreneur, lover of puppies and saltwater.

Romag

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Re: Target FIRE: 2017
« Reply #220 on: June 09, 2016, 10:10:41 AM »
Thanks, SwordGuy. I had a great career and was proud to serve!
Hey there. I'm an Army GS civilian and next June represents my departure from that role. I'll still be an ANG officer until approximately 2022, but I can handle 39 days a year for what I get out of it. ;)

Cool - are you at USASAC? I was an Infantryman/Africa FAO. Loved every minute (except an assignment to Army Human Resources Command...)
Hahahaha.. HTC.
Yes, I actually am in the 'SAC... serving my fourth and final commanding general, if all goes according to plan. Don't tell anyone... they might make me work harder if they realize I'm punching out regardless xD


I hosted MG Turner when I was in Kenya...I have the coin someplace. Seemed like a good guy.

zephyr911

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Re: Target FIRE: 2017
« Reply #221 on: June 10, 2016, 08:57:57 AM »

I hosted MG Turner when I was in Kenya...I have the coin someplace. Seemed like a good guy.

He could be exhausting for the staff, but he really cared about doing things the right way. In the end he left a valuable mark here - we're still doing a better job of analyzing data and vectoring in on process improvements as a result. Downside: some staff heads are still so afraid of looking dumb in a meeting that they massively over-prepare (+++ labor hours for lackeys) and/or avoid talking. I still run into him occasionally, seems like he's doing well as a consultant.
Semi-FIREd December 2017, part-time entrepreneur, lover of puppies and saltwater.

Freedom17

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Re: Target FIRE: 2017
« Reply #222 on: June 10, 2016, 10:21:44 PM »
51 weeks to go. Happy weekend everyone!

oblivo

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Re: Target FIRE: 2017
« Reply #223 on: June 13, 2016, 02:55:42 PM »
201 days left, '17ers
!

SwordGuy

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Re: Target FIRE: 2017
« Reply #224 on: June 13, 2016, 03:12:37 PM »
Spring Fever his hitting me really hard this month.   I re-checked our numbers and I think I can pull this off the end of the year instead of early June. :)

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Re: Target FIRE: 2017
« Reply #225 on: June 13, 2016, 04:04:58 PM »

JoJo

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Re: Target FIRE: 2017
« Reply #226 on: June 13, 2016, 07:10:00 PM »
Ugh.  My work just announced a major restructuring.   A unit that doesn't know much about our industry is taking us over.  Many of the execs that I work with every day are likely to leave or have major job changes.

I would seriously consider quitting now but the following are upcoming, with all the tickets purchased:
1. family visiting in September
2. I have a trip to somewhere tropical for 2 weeks in November
3. I have a trip planned to see family in December for Christmas
4. Big bonus will be paid next March.

So, I was planning on staying about another 1-1.5 years but no seriously considering if I can make it that long.  I'm at a 2% withdrawal rate now but I'd have such a nice cushion (like $200K) if I can stick it out for a year.

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Re: Target FIRE: 2017
« Reply #227 on: June 13, 2016, 08:03:39 PM »
A 2% withdrawal rate???  You already have an awesome cushion, about twice what you need! :)

MandyM

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Re: Target FIRE: 2017
« Reply #228 on: June 14, 2016, 06:20:58 AM »
Spring Fever his hitting me really hard this month.   I re-checked our numbers and I think I can pull this off the end of the year instead of early June. :)

Awesome!!

Jojo - You gotta do what feels right, but I think a 2% withdrawal rate is nuts, let alone waiting another 18 months.
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zephyr911

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Re: Target FIRE: 2017
« Reply #229 on: June 14, 2016, 06:52:08 AM »
How much of a cushion do you need???

Semi-FIREd December 2017, part-time entrepreneur, lover of puppies and saltwater.

Mrs. Pomodoro

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Re: Target FIRE: 2017
« Reply #230 on: June 23, 2016, 02:02:13 AM »
Hello everyone, I've made up my mind that I'm going to give FIRE a go some time next year after months, if not years of indecision. I've been following this thread quietly for awhile and everyone's journey is very inspiring! It'll be great to get through the following year with you guys and hold myself accountable for my goals.

We're in a limbo kinda situation where our stash is big enough for both of us to stop working in a more mustachian locale but not where we currently live. Mr. P has already left the corporate world almost 3 years ago to be a SAHP and is working towards his dream career; I've been literally working to pay the mortgage and property tax (and save some more in the mean time) but it's getting harder to convince myself to leave my family and go to work every morning due to increased work-related stress and the realization that we really don't fit in where we live. I've been thinking about how to transition to the next phase of our life but analysis paralysis has got hold of me and no concrete action has been taken so far. I don't have all the nuts and bolts in place right now but I am committing to quitting my full-time job in its current form next year and see where this leads us.

For now I plan to give my notice after 4/15 just because another batch of RSU is vesting. Lame, I know, but I'll start from there and tweak my plan as I go. I'll offer to stay part-time if they need help during the usual busy summer cycle, but full-time will not be an option.

Adding myself plus a few others who seem to be missing from the list. Having a date is making me nervous already. Maybe I should start a journal to give myself something meaningful to do at work to help me work through FIRE logistics? Breathe, breathe, breathe.

MrsWhipple        January 1, 2017
FIRE me            January 3, 2017
Zineth               January 17, 2017
Myhotrs             March 31, 2017
oblivion             March 31, 2017
MandyM            May 1, 2017
Mrs. Pomodoro   May 1, 2017
Rachael             May 21, 2017
Jack06              June 1, 2017
Fairviewite         June 1, 2017
Freedom17        June 1, 2017
Romag              June 1, 2017
SwordGuy          June 6, 2017
Zephyr911         June 15, 2017
Cookie78           August 3, 2017
Jojo                  November 9, 2017
Jim2001            December 31, 2017
noble_goal         OMY
« Last Edit: June 23, 2016, 02:04:42 AM by Mrs. Pomodoro »

tonysemail

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Re: Target FIRE: 2017
« Reply #231 on: June 23, 2016, 04:34:11 PM »
Hello everyone, I've made up my mind that I'm going to give FIRE a go some time next year after months, if not years of indecision. I've been following this thread quietly for awhile and everyone's journey is very inspiring! It'll be great to get through the following year with you guys and hold myself accountable for my goals.

We're in a limbo kinda situation where our stash is big enough for both of us to stop working in a more mustachian locale but not where we currently live. Mr. P has already left the corporate world almost 3 years ago to be a SAHP and is working towards his dream career; I've been literally working to pay the mortgage and property tax (and save some more in the mean time) but it's getting harder to convince myself to leave my family and go to work every morning due to increased work-related stress and the realization that we really don't fit in where we live. I've been thinking about how to transition to the next phase of our life but analysis paralysis has got hold of me and no concrete action has been taken so far. I don't have all the nuts and bolts in place right now but I am committing to quitting my full-time job in its current form next year and see where this leads us.

For now I plan to give my notice after 4/15 just because another batch of RSU is vesting. Lame, I know, but I'll start from there and tweak my plan as I go. I'll offer to stay part-time if they need help during the usual busy summer cycle, but full-time will not be an option.

Awesome! 
I'm also lurking around and I've been eyeing that date myself.
There's no shame in maximizing your last year of regular income.

Yes to starting a journal :)

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Re: Target FIRE: 2017
« Reply #232 on: June 23, 2016, 05:48:04 PM »
Awesome! 
I'm also lurking around and I've been eyeing that date myself.
There's no shame in maximizing your last year of regular income.

Yes to starting a journal :)

Well, in that case, I'll dare you to put your name down, too! ;) If I recall correctly we live in the same area. Do you plan to stay here after FIRE? That's the major thing for us to figure out over the next few months.

I suspect that we will have some form of regular income at some point in the future thru teaching or similar work (albeit much less than it is now) but that's a concern for another day. Since I picked the date I already figured out 1. My benefits end at midnight on the day my employment and 2. Little P might qualify for Medi-Cal or a locally funded health insurance program for children. Starting a journal seems like a very good idea to help me push through all these nitty gritty details. Now I just need to figure out the title of my journal...

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Re: Target FIRE: 2017
« Reply #233 on: June 23, 2016, 09:07:45 PM »
I'm going to go out on a limb here and declare myself for January 1, 2017. We should at least be FI then, even if we don't end up RE. I really like my job, and I'm not ready to leave yet. But that may change by the end of the year. There's so much I want to do with the rest of my life!

There are arguments for retiring at the beginning of next year, and also in the middle of next year (around 6/30/17). Of course, there are also arguments for retiring right now.

I don't know how all of you pick such precise dates with such confidence. It seems like our FI status fluctuates with every hiccup of the stock market.

tonysemail

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Re: Target FIRE: 2017
« Reply #234 on: June 23, 2016, 10:29:43 PM »
Well, in that case, I'll dare you to put your name down, too! ;) If I recall correctly we live in the same area. Do you plan to stay here after FIRE? That's the major thing for us to figure out over the next few months.

I suspect that we will have some form of regular income at some point in the future thru teaching or similar work (albeit much less than it is now) but that's a concern for another day. Since I picked the date I already figured out 1. My benefits end at midnight on the day my employment and 2. Little P might qualify for Medi-Cal or a locally funded health insurance program for children. Starting a journal seems like a very good idea to help me push through all these nitty gritty details. Now I just need to figure out the title of my journal...

Yeah, we're definitely staying in the area because my wife is not ready for FIRE. 
She wants to keep working for a few more years.
After that, we plan to be flexible about it.  If we can afford our current life, then we'll stay put long term.
And if we suffer a big sequence of returns disaster, then it's time to be creative ;)

Teaching seems very appealing, but opportunities seem hard to come by. 
I heard the local districts prefer hiring NCGs over techies on their second careers.

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Re: Target FIRE: 2017
« Reply #235 on: June 24, 2016, 02:59:54 AM »
I don't know how all of you pick such precise dates with such confidence. It seems like our FI status fluctuates with every hiccup of the stock market.

Just this afternoon I was thinking that I might give notice at the end of January 'cause I have no idea how I can survive the spring cycle. I can't speak for others but I definitely don't have much confidence here. Heck I don't even have a precise FI number 'cause there are many options we can go with. I'm just picking a date to get myself to start working on the logistics...

Yeah, we're definitely staying in the area because my wife is not ready for FIRE. 
She wants to keep working for a few more years.
After that, we plan to be flexible about it.  If we can afford our current life, then we'll stay put long term.
And if we suffer a big sequence of returns disaster, then it's time to be creative ;)

Teaching seems very appealing, but opportunities seem hard to come by. 
I heard the local districts prefer hiring NCGs over techies on their second careers.

It's great that you guys can be flexible! I've reached a point that I just want out so I guess we need to start to be creative. :-/ Mr. P is really interested in teaching and reports say there's a shortage of (STEM) teachers in the area. We figured it wouldn't hurt to give it a shot. We'll see if it pans out in the next year or two before I stop working or our reserve runs out.

Mrs. Pomodoro

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Re: Target FIRE: 2017
« Reply #236 on: June 24, 2016, 03:03:00 AM »
Adding RedmondStash to the list!

MrsWhipple        January 1, 2017
RedmondStash   January 1, 2017
FIRE me            January 3, 2017
Zineth               January 17, 2017
Myhotrs             March 31, 2017
oblivion             March 31, 2017
MandyM            May 1, 2017
Mrs. Pomodoro   May 1, 2017
Rachael             May 21, 2017
Jack06              June 1, 2017
Fairviewite         June 1, 2017
Freedom17        June 1, 2017
Romag              June 1, 2017
SwordGuy          June 6, 2017
Zephyr911         June 15, 2017
Cookie78           August 3, 2017
Jojo                  November 9, 2017
Jim2001            December 31, 2017
noble_goal         OMY

Cookie78

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Re: Target FIRE: 2017
« Reply #237 on: June 24, 2016, 08:40:28 AM »
I don't know how all of you pick such precise dates with such confidence. It seems like our FI status fluctuates with every hiccup of the stock market.

My precise date is only a target date at this point. I had to choose a day to work towards, and I'm counting down the days (405) and weeks (58) until that day as if it were a sure thing, but I know in the back of my mind that it's still flexible. A lot of things have to work out properly for me to be able to FIRE by then (the biggest one being selling at least 1 house) and other things may happen that allow me to FIRE even sooner. My exact net worth at my FIRE date is somewhat important in my case, but my plan is to just make do with what I have by then.

Having a precise date is only a result of needing a precise date, not a result of being absolutely certain of my net worth at that point.

zephyr911

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Re: Target FIRE: 2017
« Reply #238 on: June 24, 2016, 08:43:04 AM »
I don't know how all of you pick such precise dates with such confidence. It seems like our FI status fluctuates with every hiccup of the stock market.
My safety margin lies in the diverse income streams I've been building, not in the size of the Stash. In fact, I don't plan on touching IRAs or TSP for decades - if I pull off what I hope to do with real estate, they'll just compound indefinitely until I ball it all up and give it away.
On the downside, I won't be 100% retired, just cutting my workload by 80-90%.
Semi-FIREd December 2017, part-time entrepreneur, lover of puppies and saltwater.

boarder42

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Re: Target FIRE: 2017
« Reply #239 on: June 24, 2016, 09:55:39 AM »
Nice, FIRE me, it's really not too far away. It's becoming real.

jack06,
Yes, it would be very unfortunate to start retirement only to be greeted by a big drop in the market. I think that is in the back of everyone's mind. Do you have GO/NO GO criteria in place for your retirement date? I'm still working out the NO GO/postponing criteria myself. 

It's good that you've got a good back up plan that you are not only comfortable with, but that is actually proven. Where do you keep the provision?

Here are some other gaps that I'm currently working on:

Gap #1 - Actual expenses. I've been expatriated / deployed since 2008 so I won't know my actual monthly expenses until I move back to the US next year. As a single guy I'm proposing 2k per month.

Gap #2 - Financial Readiness. I've actually gotta reach 800k, but I'm on track.

Gap #3 - Mental Readiness. Leaving a cash fire hose is going against the grain, and I need to ensure I've got all my bases covered e.g. these gaps.

Gap #4 - Health Insurance. While not a big deal, I haven't looked into it much... yet. There's plenty of resources available when the time comes.

Gap #5 - Personal liability insurance? I was browsing one users blog, the older gentleman with the avatar of a hiker, I forget it at the moment but it will come to me. He mentioned umbrella insurance and protecting his stash, and yes, the last thing I need is to get sued and lose my FI.

you should look at the shiller PE MadFientist wrote a blog post on its direct relation to SWRs. and it was based on Kitces post a well respected financial guru - after this drop today we're sitting at

0.038852011


http://www.madfientist.com/safe-withdrawal-rate/

his calc he updates every so often

https://lab.madfientist.com/calculators/safe_withdrawal
My Miles Journal -Learn to Manufacture spend(MS)

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Mrs. Pomodoro

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Re: Target FIRE: 2017
« Reply #240 on: June 24, 2016, 12:46:13 PM »
Having a precise date is only a result of needing a precise date, not a result of being absolutely certain of my net worth at that point.

That! Only took me almost 2 years to realize it.

RedmondStash

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Re: Target FIRE: 2017
« Reply #241 on: June 24, 2016, 05:33:04 PM »
Having a precise date is only a result of needing a precise date, not a result of being absolutely certain of my net worth at that point.

That! Only took me almost 2 years to realize it.

Makes good sense. And here I thought I was the only one who didn't have everything planned down to the minute and the cent. :)

Good luck to us all!

Freedom17

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Re: Target FIRE: 2017
« Reply #242 on: June 25, 2016, 10:46:23 PM »
49 weeks to go! Its getting exciting!

Have a great week everyone.

myhotrs

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Re: Target FIRE: 2017
« Reply #243 on: June 26, 2016, 05:47:55 PM »
I'm at almost exactly 9 months to FIRE and its getting real. Like scary real. I understand OMY now. What will I draw first, how many years will that last, what happens when I eat my taxable brokerage account, what happens if I need to work in 7 years, what if side-hustle fails, what will our Obamacare look like...
I swear, by my life and my love of it, that I will never live for the sake of another man, nor ask another man to live for mine.

Lnspilot

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Re: Target FIRE: 2017
« Reply #244 on: June 26, 2016, 08:24:45 PM »
You know what, myhotrs?

This too shall pass.

Back in March I returned to the US after eight years abroad. I was FI by then, but a stateside opportunity came up and I snatched it with the quickness. Why not pad the stash? But, what if this Brexit totally f's my sequence of returns risk? What if my projected spend rate is too low? What if...

I could play the what if game forever. Anyone can.

But it's gotten to the point of knowing that you're there, and the What If's slowly start to turn sour. For me, it's been going from "what if", to "f-ck this!"


F-ck this, I don't want to get up at 4:40am tomorrow morning. Why not have a beer tonight, and then wake up without and alarm and go trail running instead?!

Why not forsake the gas pump and 35 minute commute for a bike ride to bask in the shade of summer? That gets me ahead monetarily and satisfactorily.

You all know exactly what I mean.

But of course, all bark, no bite. I'll wake my ass up tomorrow at 4:40am and hit the highway at 5 to go to a job I'm burnt out at. OMY is a curable disease, it's just a mother-f-cker of one.

I wish you the best.


Nick

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Re: Target FIRE: 2017
« Reply #245 on: June 26, 2016, 08:53:38 PM »
I'm at almost exactly 9 months to FIRE and its getting real. Like scary real. I understand OMY now. What will I draw first, how many years will that last, what happens when I eat my taxable brokerage account, what happens if I need to work in 7 years, what if side-hustle fails, what will our Obamacare look like...

I know what you mean. I hit my number plus an extra 20k to have a garage built around the end of April.

When I was a few years out, I swore to myself that I would not work even one extra day. But here I am, maybe not quite OMY, but eight more months (now down to six months!) to add even more safety margin for what ifs, and against any unfortunate luck.

I am also very nervous about this election. I don't like Hillary, but I sure don't want Trump getting in and destroying Obamacare.
FIRE'd on January 4, 2017

Mrs. Pomodoro

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Re: Target FIRE: 2017
« Reply #246 on: June 27, 2016, 03:55:51 PM »
I'm at almost exactly 9 months to FIRE and its getting real. Like scary real. I understand OMY now. What will I draw first, how many years will that last, what happens when I eat my taxable brokerage account, what happens if I need to work in 7 years, what if side-hustle fails, what will our Obamacare look like...

I feel the same way after just committed to pulling the plug. Had a mini-breakdown last night thinking not having a steady salary seems like a pretty bad idea... until I come to work on Monday. Maybe I was just mis-interpreting my usual Sunday dread?

While lying sleepless last night I came up with a few points to counter my doubts:

  • In our current state, it's actually better for me and my family's well-being that I take a break from stressful full-time employment. I'm burnt out and unmotivated and this attitude affects my life outside of work as well. We definitely have enough assets to pull this off, at least for awhile, if not permanently.
  • I can view it as a sabbatical or a FIRE trial run. I trust my ability to find another job in the same field if I need to.
  • I've been mentioning vaguely to people that I'm considering taking some time off to recharge and spend time with my young child. I think I will start telling my gremlin the same thing when she visits.

Now I just need to remember all this next time I'm panicking. Hopefully it'll get better as I work on the what-if scenarios. We'll get there!

Jim2001

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Re: Target FIRE: 2017
« Reply #247 on: July 02, 2016, 01:07:51 PM »
Checkpoint: 39 pay checks left to earn. 

My wife laughed at me when I started counting at 52.  This week when she heard that it's down to the 30's, she said "really?!?".  She's got quite a few more years to go, but is totally supportive of me checking out early, saying "you've earned it".  On Thursday, I reached the 36th anniversary of starting my first real job (not counting yard work, throwing the local paper, collecting bottles, etc.)

But, like Myhotrs and Mrs. P, I've recently been afflicted with thoughts that One More Year would enable a nice cushion in the 'stache.  So, instead of that, I applied for two refi's this week.  On our house, the current note is a great rate at 4.25% on a 30 year fixed loan, but rates dropped to 3.5%.  So, I pulled the trigger and locked in yesterday.  And, I figured it's the same paperwork, so I also locked in a refi on one of the rentals, dropping that from 5% to 4.375%.  This will improve the cash flow by more than $300 per month.  At a 4% withdrawal rate, that's the equivalent of a $90K pad in the 'stache!


Cheers!

Jim

myhotrs

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Re: Target FIRE: 2017
« Reply #248 on: July 02, 2016, 10:03:10 PM »
Did my quarterly new worth update and am very happy with the outcome. Another solid q and I think the last Q will be all padding. Hope I can stand my job that long. I've already volunteered for any layoffs, but none are forthcoming :(
I swear, by my life and my love of it, that I will never live for the sake of another man, nor ask another man to live for mine.

Mrs. Pomodoro

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Re: Target FIRE: 2017
« Reply #249 on: July 03, 2016, 02:14:04 AM »
That's awesome, Jim! You just saved yourself one more year! :D