Author Topic: Target FIRE: 2017  (Read 85928 times)

boarder42

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Re: Target FIRE: 2017
« Reply #250 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
PM me about how to save 6% on your annual grocery Bill!

There is a 35k starwood bonus right now as well. PM me for the info.

Mrs. Pomodoro

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Re: Target FIRE: 2017
« Reply #251 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 #252 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 #253 on: June 24, 2016, 06:52:03 PM »
I think we're all in that boat. As long as you have enough flexibility in you plans, both in terms of safety margin, ability to earn extra on the side and/or ability to adjust living expenses I think it's fine. Things will continue to change even after we FIRE.

Freedom17

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Re: Target FIRE: 2017
« Reply #254 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 #255 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 #256 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 #257 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 #258 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 #259 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 #260 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 #261 on: July 03, 2016, 02:14:04 AM »
That's awesome, Jim! You just saved yourself one more year! :D


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Re: Target FIRE: 2017
« Reply #262 on: July 04, 2016, 07:13:12 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 :(

You could misbehave and volunteer for a firing.   >:-)
FIRE'd on January 4, 2017

SwordGuy

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Re: Target FIRE: 2017
« Reply #263 on: July 04, 2016, 10:35:31 PM »
I'm becoming less and less willing to put up with passive aggressive bullshit at work.

If the next two months go well I may advance to the tail end of the 2016 cohort.

Here's why:

"No, you can't use this trash can in the room any more.   You have to have your own."

I just put soda cans in it.  How is that a problem?

"It's because they don't think you pull your weight when we all do the cleaning once a week."

I used to take the long walk to another building, in the hot sun or cold wind or rain to get really large cartons of toilet paper for the bathrooms.
Now I don't "because no one notices you do that."    Enjoy wiping your ass with your hand, because no one else has been keeping the bathrooms stocked up now that I don't.  I bring my own roll now when supplies get low.

"We don't like it that you aren't emptying your personal trash can every day."

Why the hell would I empty it every day?   It just has soda cans and, occasionally, some pistachio shells in it.  I empty it when it's full.

The damned personal trash can is going back to supply.   I will use the public trash can.   They can fire me about it if they want.   The unemployment insurance means I can retire 11 months earlier than planned.   Go ahead, make my day.




Freedom17

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Re: Target FIRE: 2017
« Reply #264 on: July 05, 2016, 07:49:15 AM »
Wait what.  Is this a college share house or a workplace. This sounds really weird, like a hostile work environment even. Is your manager and HR aware of this?

myhotrs

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Re: Target FIRE: 2017
« Reply #265 on: July 05, 2016, 03:11:22 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 :(

You could misbehave and volunteer for a firing.   >:-)

That's basically what I'm doing. But in the mega-corp I work at once they put someone on a Performance Improvement Plan, its six months until anything can happen. So there isn't much benefit to me and those on PIP's are not bonus eligible, so that would suck pretty bad. But given my attitude at work, they will probably take it out of my hands.

I guess I could do something that would result in immediate firing, but I don't really want to be known as a molester.
« Last Edit: July 05, 2016, 03:14:50 PM by myhotrs »
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.

SwordGuy

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Re: Target FIRE: 2017
« Reply #266 on: July 05, 2016, 05:15:11 PM »
Wait what.  Is this a college share house or a workplace. This sounds really weird, like a hostile work environment even. Is your manager and HR aware of this?

It's a contractor position for the government.  I am just an expendable cog who fills out a timesheet.

There's a surprising amount of crazy stuff like this in some government communities.   Never had a lick of a problem in the corporate world.

6 to 11 months and I'm done, so I'm past caring about it enough to fight it actively.  Couldn't win that fight anyway, only in fairy tales is the little boy who said the emperor has no clothes considered a hero.

easypeasy

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Re: Target FIRE: 2017
« Reply #267 on: July 10, 2016, 02:45:08 PM »
Hi Folks,

Just discovered this thread! I'm planning to FIRE around March 1, 2017 and move from NYC to Minneapolis with DH and our young son in April (I'll be 35). I guess this translates to 14 more paychecks, gulp.

I wanted to mention that after a couple of years of anxiety about FI I recently read JH Collins' book A Simple Path to Wealth and I found it to be a very reassuring sense check on all things FI. 

rachael talcott

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Re: Target FIRE: 2017
« Reply #268 on: July 10, 2016, 08:05:26 PM »
Hi Folks,

Just discovered this thread! I'm planning to FIRE around March 1, 2017 and move from NYC to Minneapolis with DH and our young son in April (I'll be 35). I guess this translates to 14 more paychecks, gulp.

I wanted to mention that after a couple of years of anxiety about FI I recently read JH Collins' book A Simple Path to Wealth and I found it to be a very reassuring sense check on all things FI.

Welcome, easypeasy.  Come on in. The water's fine!

Romag

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Re: Target FIRE: 2017
« Reply #269 on: July 12, 2016, 06:10:05 PM »
Bye everybody! I'm moving up to 2016. Just found out my government contract position will not be renewed, so I am done working on September 26, and will start living the FIRE life.
No big surprise, I was planning to work until June 2017. No change to my math either, I've been FI since I started collecting my military pension.
Quite sure I am ready - I was pretty happy when I got the news.

SwordGuy

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Re: Target FIRE: 2017
« Reply #270 on: July 12, 2016, 07:35:42 PM »
Congrats, Romag!

Jim2001

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Re: Target FIRE: 2017
« Reply #271 on: July 12, 2016, 07:58:30 PM »
Bye everybody! I'm moving up to 2016. Just found out my government contract position will not be renewed, so I am done working on September 26, and will start living the FIRE life.
No big surprise, I was planning to work until June 2017. No change to my math either, I've been FI since I started collecting my military pension.
Quite sure I am ready - I was pretty happy when I got the news.

We'll miss you. Come back and visit to tell us how wonderful FIRE is!  Oh, wait, it's only a different thread...;)

Thank you for your service and congratulations!
Cheers!

Jim

zinethstache

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Re: Target FIRE: 2017
« Reply #272 on: July 12, 2016, 09:13:07 PM »
Congrats Romag! I may or may not follow you into 2016, we will see:)

I've been down and out from planned hands surgery, so havent been able to update much.

Status:

  • Primary Residence - SOLD
  • PURGED unneeded belongings
  • STORED the keep forever stuff
  • Outfitted and moved into FIRE Home.
  • Had final planned surgery
  • Sold my car
  • Met savings goal

Talk about minimalist. We downsized from 1/2 acre, 2200sf, 3 car garage and big shed to a 350sf 28.5 ft long Fifth Wheel trailer. We are staying on my mom's land while I work. We will pay $200 plus electric (she has a 2nd service at her barn so we can see exactly what we use).

The purging of stuff was overwhelming. There was quite a bit to keep. Tools and equipment we use in the maintenance of our rentals, kitchen, business supplies. We did purge almost all our furniture, our piano, sporting goods, weights etc. and TONS of clothing.

I still plan to work through the end of the year in order to qualify for the annual performance bonus. I don't get to slack off to earn it, I must work hard and stay on my game for the rest of the year.

ACK! That last one is the one that will drive me to the FIRE class of 2016!

myhotrs

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Re: Target FIRE: 2017
« Reply #273 on: July 12, 2016, 11:27:51 PM »
Congrats Romag!! Awesome to see folks from out group pulling the trigger and living FIRE! Looking forward to more of us FIRIng
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.

RedmondStash

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Re: Target FIRE: 2017
« Reply #274 on: July 14, 2016, 08:13:52 AM »
Congrats, Romag! That's exciting. I hope you enjoy your FIRE life.

I'm going to do the opposite and extend my projected working life by probably about 6 months. New tentative FIRE date is 6/30/17, because spouse's freelance contract was extended from end of 2016 until end of next June, and I figure it's better if we both keep dumping money into investments together. So a sort of combo of OMY and solidarity.

Of course, either or both of us could change our minds and FIRE sooner -- another year seems like a lot longer than the 5-ish months we would have had left -- but I sort of like the idea of aiming for next June and keeping the option of leaving sooner in my back pocket.

MandyM

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Re: Target FIRE: 2017
« Reply #275 on: July 14, 2016, 12:37:16 PM »
Congrats, Romag! I'm green with envy over here...I've been burned out for the last...2 months, maybe? I keep thinking this will pass, but so far it hasn't. I'm seriously considering talking to my boss about cutting my hours to 32/week, so 4 days a week.
"Freedom lies in being bold." -Robert Frost

myhotrs

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Re: Target FIRE: 2017
« Reply #276 on: July 15, 2016, 02:13:04 PM »
MandyM, getting close has only made my burnout worse. I'm already on 4 day weeks, sometimes 3 days and its still a struggle to give a shit about corporate policies and our whiny, I NEED THIS NOW customers.
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.

MandyM

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Re: Target FIRE: 2017
« Reply #277 on: July 15, 2016, 02:29:41 PM »
myhotrs, that is terrible news! I can only hope that shorter hours will help me, despite your experience. Although, your post does make me think that perhaps I should just keep pushing through. If I'm going to be burned out regardless, at least I can maximize my savings. This will be quite the ponder.
"Freedom lies in being bold." -Robert Frost

JoJo

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Re: Target FIRE: 2017
« Reply #278 on: July 16, 2016, 11:37:07 AM »
I'm moving up my date!  I will probably be totally done by early August (as opposed to early November).  Still have to work out the details as the date arrives, but I'm hoping now to fly to Spain and do the Camino de Santiago and see a bit of Portugal & Spain, followed by a year or so in Africa.

I need to kick my self in the butt and start completing my to do list that I would like complete by the end of next March, so I will list things here with updates for motivation:
* Write my will
* Have a physical - want to make sure I'm healthy before I go abroad.
* Consolidate all of my Roth IRAs
* Get a new bank account that makes it easier & cheaper to bank abroad
* Decide to put my house on market - either sell or rent out, if renting need to find a good manager - this needs to wait until 2017
* De-clutter my house  (as of 7/16 have gotten rid of 2 car loads of stuff and started stockpiling more to go in my living room)
* Lose 117 pounds (as of 7/16 have lost 65 lbs - or 55.5% of the goal)
* Finish planning for a few more trips
* Book the first part of the Africa trip
* In 2017 after quit - transfer my HSA

Freedom17

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Re: Target FIRE: 2017
« Reply #279 on: July 16, 2016, 02:44:41 PM »
Congrats on the weight loss. That's a substantial amount! Great to see your priorities are in the right order!

Jim2001

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Re: Target FIRE: 2017
« Reply #280 on: July 16, 2016, 02:48:58 PM »
Congrats JoJo on moving the date!

Tick, tock.  Tick, tock.  Paycheck #39 came in this week, only 38 left to earn. 

The refinance of the home and a rental are underway and the broker said both packages went to underwriting this week.  He also said that once they've been approved, we'll re-check rates and ask to reset the lock if they have dropped.

Friday I started the transition of my current project to a new manager and on Monday I will start part time at a new client until the transition is complete.  So, for four weeks I'll juggle between the two.  The new  commute will be 22.8 miles each way, which is down from 62.5.  It's about a third of the distance, but will only cut my commute time in about half due to traffic patterns (it's on the way, so I've been able to time it.)  The new project is scheduled for 13 months, which will get me very close to the end goal of FIRE in December 2017.  Maybe it will run long.  Maybe I'll fire in the fall of 2017.  Tick, tock.  Tick, tock.  We'll see how it goes.

Cheers!

Jim

boarder42

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Re: Target FIRE: 2017
« Reply #281 on: July 24, 2016, 01:07:31 PM »
I'm moving up my date!  I will probably be totally done by early August (as opposed to early November).  Still have to work out the details as the date arrives, but I'm hoping now to fly to Spain and do the Camino de Santiago and see a bit of Portugal & Spain, followed by a year or so in Africa.

I need to kick my self in the butt and start completing my to do list that I would like complete by the end of next March, so I will list things here with updates for motivation:
* Write my will
* Have a physical - want to make sure I'm healthy before I go abroad.
* Consolidate all of my Roth IRAs
* Get a new bank account that makes it easier & cheaper to bank abroad
* Decide to put my house on market - either sell or rent out, if renting need to find a good manager - this needs to wait until 2017
* De-clutter my house  (as of 7/16 have gotten rid of 2 car loads of stuff and started stockpiling more to go in my living room)
* Lose 117 pounds (as of 7/16 have lost 65 lbs - or 55.5% of the goal)
* Finish planning for a few more trips
* Book the first part of the Africa trip
* In 2017 after quit - transfer my HSA

Few things
1. Look up ars post on the Camino and maybe pm him he just did it I'm sure he has some advice and tips for what he may do differently if he were to do it again. Or can't miss things along it.
2. Do you not get physicals annually ?
PM me about how to save 6% on your annual grocery Bill!

There is a 35k starwood bonus right now as well. PM me for the info.

JoJo

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Re: Target FIRE: 2017
« Reply #282 on: July 25, 2016, 09:24:50 AM »

Few things
1. Look up ars post on the Camino and maybe pm him he just did it I'm sure he has some advice and tips for what he may do differently if he were to do it again. Or can't miss things along it.
2. Do you not get physicals annually ?

2 - usually I do but last year I just did the full blood work, BP & weight at our at work screening and all the blood work came back really good so didn't do it.  So I want to do everything this year, including mammogram.

MarciaB

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Re: Target FIRE: 2017
« Reply #283 on: August 01, 2016, 05:09:56 PM »
I'm in!

Announced to boss and staff today that I am retiring at the end of January 2017.

FIR here I come!

(And yes, that's "FIR" because at my age (55) I can't claim the "E" unlike many of you whippersnappers.)

So happy to be on the path...

Freedom17

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Re: Target FIRE: 2017
« Reply #284 on: August 01, 2016, 05:11:20 PM »
Welcome and congratulations!

MarciaB

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Re: Target FIRE: 2017
« Reply #285 on: August 01, 2016, 05:14:57 PM »
Adding myself to the list (that I think is the most recent):

MrsWhipple        January 1, 2017
RedmondStash   January 1, 2017
FIRE me            January 3, 2017
Zineth               January 17, 2017
MarciaB             January 31, 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

RedmondStash

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Re: Target FIRE: 2017
« Reply #286 on: August 01, 2016, 05:20:16 PM »
Adding myself to the list (that I think is the most recent):

MrsWhipple        January 1, 2017
RedmondStash   January 1, 2017
FIRE me            January 3, 2017
Zineth               January 17, 2017
MarciaB             January 31, 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

Thanks for putting this together, MarciaB. At the risk of OMY (or SMM, six more months) syndrome, I'm pushing my target date out to 6/30/17, because spouse's freelance contract was extended to then. Weirdly, it's easier to think about another year or so than 5 more months. I get impatient when it seems like it's right around the corner; I just want to do it NOW. It's a psychological thing, especially because I can still pull the trigger sooner.

Good luck to us all!

Freedom17

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  • Posts: 262
  • Age: 38
  • Location: Bay Area
Re: Target FIRE: 2017
« Reply #287 on: August 01, 2016, 06:44:04 PM »
While we are confessing I should admit I'm pushing my date out by 2 months back to my original date. On the plus side I'm booking a flight to my retirement city tonight, which will help cement the date :)

MrsWhipple        January 1, 2017
FIRE me            January 3, 2017
Zineth               January 17, 2017
MarciaB             January 31, 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
Romag              June 1, 2017
SwordGuy          June 6, 2017
Zephyr911         June 15, 2017
RedmondStash   June 30, 2017
Freedom17        July 31, 2017
Cookie78           August 3, 2017
Jojo                  November 9, 2017
Jim2001            December 31, 2017
noble_goal         OMY

Mrs. Pomodoro

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  • Posts: 160
  • Location: NorCal
Re: Target FIRE: 2017
« Reply #288 on: August 01, 2016, 07:21:15 PM »
Weirdly, it's easier to think about another year or so than 5 more months. I get impatient when it seems like it's right around the corner; I just want to do it NOW. It's a psychological thing, especially because I can still pull the trigger sooner.

Good luck to us all!

Funny you should say that. I had a very strong urge this afternoon to just walk straight into my boss' office and tell him I'm done. 5 months left to 2017...

RedmondStash

  • Bristles
  • ***
  • Posts: 447
Re: Target FIRE: 2017
« Reply #289 on: August 01, 2016, 10:38:56 PM »
Weirdly, it's easier to think about another year or so than 5 more months. I get impatient when it seems like it's right around the corner; I just want to do it NOW. It's a psychological thing, especially because I can still pull the trigger sooner.

Good luck to us all!

Funny you should say that. I had a very strong urge this afternoon to just walk straight into my boss' office and tell him I'm done. 5 months left to 2017...

I really do find that telling myself it's a year or so away helps me relax more. It's not right around the corner. Maybe I just can't count as high as 12 (months), so it goes back to being basically indefinite.

If you do follow that urge, I wish you the very best of luck. :)

JoJo

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  • Posts: 599
Re: Target FIRE: 2017
« Reply #290 on: August 02, 2016, 09:25:04 AM »
Time for an update:
The plans are starting to solidify - I've thought thru alot in the last 3 weeks.  Still have to work out the details as the date arrives but might retire in late April.  I'm hoping now to fly to Spain and do the Camino de Santiago in May-June and and see a bit of Portugal & Spain, then come back to the US for a couple months and spend time with family, followed by a year or so in Africa starting in November. 

I need to kick my self in the butt and start completing my to do list that I would like complete by the end of next March, so I will list things here with updates for motivation:
* Write my will - as of 8/2 it's written.  I need to set up an appointment for signing & notarization.
* Have a physical - want to make sure I'm healthy before I go abroad.
* Consolidate all of my Roth IRAs
* Get a new bank account that makes it easier & cheaper to bank abroad.  Thinking about Schwab?
* Decide to put my house on market - either sell or rent out, if renting need to find a good manager - this needs to wait until 2017.  As of 8/2 leaning towards keeping it - found out my neighbor is getting $2400 in rent so I'd net $1200 per month even after paying top dollar for management.
* De-clutter my house  (as of 7/16 have gotten rid of 2 car loads of stuff and started stockpiling more to go in my living room.  As of 8/2 gotten rid of about 50 lbs of books, have reduced my wardrobe by 10 more bags of clothes.
* Lose 117 pounds (as of 8/2 have lost 74 lbs - or 63.2% of the goal)
* Finish planning for a few more trips (as of 8/2 have fully planned & reserved my September trip to Vancouver Island and starting to think about November trip to Cuba)
* Book the first part of the Africa trip - will do this before the end of the year.
* In 2017 after quit - transfer my HSA
* Need to make a number of house repairs - fix one wall heater, replace garbage disposal, fix fan in the bathroom.  Might wait until 2017 because maybe can write it off if there's rental income that year.

Cookie78

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  • Posts: 1497
  • Location: Canada
    • Cookie's Goals
Re: Target FIRE: 2017
« Reply #291 on: August 02, 2016, 10:35:30 AM »
Time for an update:
The plans are starting to solidify - I've thought thru alot in the last 3 weeks.  Still have to work out the details as the date arrives but might retire in late April.  I'm hoping now to fly to Spain and do the Camino de Santiago in May-June and and see a bit of Portugal & Spain, then come back to the US for a couple months and spend time with family, followed by a year or so in Africa starting in November. 

I need to kick my self in the butt and start completing my to do list that I would like complete by the end of next March, so I will list things here with updates for motivation:
* Write my will - as of 8/2 it's written.  I need to set up an appointment for signing & notarization.
* Have a physical - want to make sure I'm healthy before I go abroad.
* Consolidate all of my Roth IRAs
* Get a new bank account that makes it easier & cheaper to bank abroad.  Thinking about Schwab?
* Decide to put my house on market - either sell or rent out, if renting need to find a good manager - this needs to wait until 2017.  As of 8/2 leaning towards keeping it - found out my neighbor is getting $2400 in rent so I'd net $1200 per month even after paying top dollar for management.
* De-clutter my house  (as of 7/16 have gotten rid of 2 car loads of stuff and started stockpiling more to go in my living room.  As of 8/2 gotten rid of about 50 lbs of books, have reduced my wardrobe by 10 more bags of clothes.
* Lose 117 pounds (as of 8/2 have lost 74 lbs - or 63.2% of the goal)
* Finish planning for a few more trips (as of 8/2 have fully planned & reserved my September trip to Vancouver Island and starting to think about November trip to Cuba)
* Book the first part of the Africa trip - will do this before the end of the year.
* In 2017 after quit - transfer my HSA
* Need to make a number of house repairs - fix one wall heater, replace garbage disposal, fix fan in the bathroom.  Might wait until 2017 because maybe can write it off if there's rental income that year.

Awesome plan!
I need to sit down and write out my to do pre-FIRE list too. Right now I'm busy working on my house/yard improvement list so that I can sell it when the time comes. But I should make an everything I need to do before FIRE list like yours.


As for when my FIRE date is I've been wavering a lot on that lately. I was always astounded at the OMY decision so many people make. 'I would NEVER do that!' And now that I have 1 year and 1 day remaining, I'm wondering if that's enough time to get my shit together!

A lot of my problem picking a date is that I absolutely need to sell my rental house first, and the real estate market here is very unstable. I was hoping that by early 2017 it would be back to normal, but at the moment that's not looking likely. In addition, things with my houses are going rather swimmingly at the moment with good tenants, few issues, covering costs with a little extra each month, and it's hard to sell and give that up, especially at a time when selling is both difficult and likely to result in lower than expected profit.

Also as I spend so much time fixing up my yard and house I keep thinking I'm going to miss it! I've put so much work into making it just the way I like and it's hard to think about leaving already. My cousin says I'll be too busy living my dream to miss the house. Mostly I will miss the yard and garden, not the actual house. And I certainly won't miss the location.

But DAMN, I want to go live my dreams and do all the things that I can't do while I'm stuck in an office! I told everyone I'd be done Aug 3, 2017 and I want to stick with it! I have big plans for the following summers and want to have some decompression time and time spent with my family before I take off on all my expeditions. I've been looking forward to tomorrow for awhile so I can start telling myself it's the last xyz day at work... but now I don't quite believe myself about my FIRE date.

I know I'm very unlikely to quit before Aug 3, 2017 and I will quit before May 10, 2018 at (almost) any cost. And I know that I can't quit before the rental house sells. But I'm unsure what to do about the time in between. Stick with it a few more months, or jump?

So class of 2017, anyone have any advice or comments? Perhaps it's not possible to make a plan until I know what's going on with the housing market.

MarciaB

  • Bristles
  • ***
  • Posts: 290
  • Age: 55
  • Location: Oregon
Re: Target FIRE: 2017
« Reply #292 on: August 02, 2016, 10:37:11 AM »
What happens on May 10th, 2018?

Cookie78

  • Handlebar Stache
  • *****
  • Posts: 1497
  • Location: Canada
    • Cookie's Goals
Re: Target FIRE: 2017
« Reply #293 on: August 02, 2016, 10:46:28 AM »
What happens on May 10th, 2018?

My 40th birthday!

Charlie Foxtrot

  • 5 O'Clock Shadow
  • *
  • Posts: 9
  • Age: 42
  • Location: Ohio
Re: Target FIRE: 2017
« Reply #294 on: August 02, 2016, 10:46:48 AM »
Good afternoon all:

First MMM post and thanks for having me in the Class of 2017 (projected FIRE date 7.1.17)

Live in Ohio. Looking to sell house and move family (Me 41 Wife 39, and two kids 4&6) to Tucson next summer and rent based on weather and LCOL.

Heading out there with not a lot of buffer:

Roth: 100k
Traditional:530k
Taxable: 55K
Inherited: 65k
Equity from home sale: 125K
Cash: 25K

So plan on going out there spending 45K on a SWR of 5%. I will take a gap year and the wife is just getting started with wedding photography and plans to bring in another 5-10k to pad.

Thinking I will need to get the roth conversions correct to make this happen.





MarciaB

  • Bristles
  • ***
  • Posts: 290
  • Age: 55
  • Location: Oregon
Re: Target FIRE: 2017
« Reply #295 on: August 02, 2016, 10:53:22 AM »
Welcome CF!

I'm adding you to the list:

MrsWhipple        January 1, 2017
FIRE me            January 3, 2017
Zineth               January 17, 2017
MarciaB             January 31, 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
Romag              June 1, 2017
SwordGuy          June 6, 2017
Zephyr911         June 15, 2017
RedmondStash   June 30, 2017
Charlie Foxtrot   July 1, 2017
Freedom17        July 31, 2017
Cookie78           August 3, 2017
Jojo                  November 9, 2017
Jim2001            December 31, 2017
noble_goal         OMY

JoJo

  • Pencil Stache
  • ****
  • Posts: 599
Re: Target FIRE: 2017
« Reply #296 on: August 02, 2016, 11:34:04 AM »
MarciaB - please update my date to April 28th.  I decided to end earlier to do some travel.

MarciaB

  • Bristles
  • ***
  • Posts: 290
  • Age: 55
  • Location: Oregon
Re: Target FIRE: 2017
« Reply #297 on: August 02, 2016, 11:41:53 AM »
MrsWhipple        January 1, 2017
FIRE me            January 3, 2017
Zineth               January 17, 2017
MarciaB             January 31, 2017
Myhotrs             March 31, 2017
oblivion             March 31, 2017
Jojo                  April 28, 2017
MandyM            May 1, 2017
Mrs. Pomodoro   May 1, 2017
Rachael             May 21, 2017
Jack06              June 1, 2017
Fairviewite         June 1, 2017
Romag              June 1, 2017
SwordGuy          June 6, 2017
Zephyr911         June 15, 2017
RedmondStash   June 30, 2017
Charlie Foxtrot   July 1, 2017
Freedom17        July 31, 2017
Cookie78           August 3, 2017
Jim2001            December 31, 2017
noble_goal         OMY

Cookie78

  • Handlebar Stache
  • *****
  • Posts: 1497
  • Location: Canada
    • Cookie's Goals
Re: Target FIRE: 2017
« Reply #298 on: August 02, 2016, 11:54:06 AM »
<snip>
So class of 2017, anyone have any advice or comments? Perhaps it's not possible to make a plan until I know what's going on with the housing market.

So after reading all the updates in the Class of 2015 thread I'm inspired.

I think
1- The housing market won't continue to drop enough to make a huge difference to me
2- I won't miss my house/yard once I'm off living my dream
3- I recently discovered a really awesome fun seasonal side gig job that I would LOVE to do that would provide a little extra income if and when I want it.

Aug 3, 2017 here I come!

...see what I mean about wavering? lol

MandyM

  • Pencil Stache
  • ****
  • Posts: 503
  • Location: Lexington, KY
Re: Target FIRE: 2017
« Reply #299 on: August 02, 2016, 01:14:27 PM »
Time for an update:
The plans are starting to solidify - I've thought thru alot in the last 3 weeks.  Still have to work out the details as the date arrives but might retire in late April.  I'm hoping now to fly to Spain and do the Camino de Santiago in May-June and and see a bit of Portugal & Spain, then come back to the US for a couple months and spend time with family, followed by a year or so in Africa starting in November. 

I need to kick my self in the butt and start completing my to do list that I would like complete by the end of next March, so I will list things here with updates for motivation:
* Write my will - as of 8/2 it's written.  I need to set up an appointment for signing & notarization.
* Have a physical - want to make sure I'm healthy before I go abroad.
* Consolidate all of my Roth IRAs
* Get a new bank account that makes it easier & cheaper to bank abroad.  Thinking about Schwab?
* Decide to put my house on market - either sell or rent out, if renting need to find a good manager - this needs to wait until 2017.  As of 8/2 leaning towards keeping it - found out my neighbor is getting $2400 in rent so I'd net $1200 per month even after paying top dollar for management.
* De-clutter my house  (as of 7/16 have gotten rid of 2 car loads of stuff and started stockpiling more to go in my living room.  As of 8/2 gotten rid of about 50 lbs of books, have reduced my wardrobe by 10 more bags of clothes.
* Lose 117 pounds (as of 8/2 have lost 74 lbs - or 63.2% of the goal)
* Finish planning for a few more trips (as of 8/2 have fully planned & reserved my September trip to Vancouver Island and starting to think about November trip to Cuba)
* Book the first part of the Africa trip - will do this before the end of the year.
* In 2017 after quit - transfer my HSA
* Need to make a number of house repairs - fix one wall heater, replace garbage disposal, fix fan in the bathroom.  Might wait until 2017 because maybe can write it off if there's rental income that year.

Great list JoJo, and amazing progress so far. I definitely need to make a pre-FIRE list...although I'm a little afraid of how daunting it will be. And then I kick myself for being afraid of preparing for FIRE.
"Freedom lies in being bold." -Robert Frost