Author Topic: Target FIRE: 2017  (Read 246451 times)

RedmondStash

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Re: Target FIRE: 2017
« Reply #400 on: October 14, 2016, 10:46:58 PM »
Here is my question for my peer who are on their final stretch: what is your pre-exit check list like?  I have a few things like taking care of dental work and routine medical assessments while I have full coverage, but I'm not entirely sure what else I should plan for.

There's a whole thread about this somewhere that folks keep updating. I thought it was a pinned thread, but I can't find it now. You might find it if you poke around.

oneyear

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Re: Target FIRE: 2017
« Reply #401 on: October 15, 2016, 03:13:47 AM »
This week I started my transition to SR with a planned 1/2 day. By 7.30am I was checking email and at 11am I was making moves to get back to the office.

Next week I'm going to structure my morning off a week a lot more. Library or swimming pool with the little one and a coffee for me afterwards.

MarciaB

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Re: Target FIRE: 2017
« Reply #402 on: October 15, 2016, 07:01:26 AM »
OK - I added Financial Ascensionist (had to abbreviate, sorry). I am very impressed by you folks in your 30's on this list (well done you!).


MrsWhipple       (at 32) January 1, 2017 
MsGreenStash     (at 51) January 1, 2017
FIRE me                  January 3, 2017
Metta            (at 55) January 3, 2017 
Zineth           (at 49) January 17, 2017
MarciaB          (at 55) January 31, 2017
rahby1us                 January 31, 2017
mf3333           (at 56) January 31, 2017
easypeasy        (at 35) March 15, 2017   
Myhotrs          (at 38) March 31, 2017   
oblivion                 March 31, 2017
Zephyr911        (at 38) April 1, 2017
Threshkin        (at 59) April 15, 2017   
Jojo                     April 28, 2017
MandyM           (at 38) May 1, 2017     
Mrs. Pomodoro            May 1, 2017
Mrs. SwordGuy            May 16, 2017
SwordGuy         (at 59) May 16, 2017
Rachael                  May 21, 2017
RedmondStash             May 31, 2017
Jack06           (at 42) June 1, 2017     
Fairviewite              June 1, 2017
Romag                    June 1, 2017
Cottonswab       (at 30) June 1, 2017
Financial Asc.   (at 39) June 1, 2017
Charlie Foxtrot  (at 41) July 1, 2017
Bigchrisb                July 14 2017
Freedom17        (at 38) July 28, 2017
UnleashHell              July 28, 2017
Cookie78         (at 39) August 3, 2017
Jim2001                  December 31, 2017
noble_goal               OMY
My blog on topics having to do with minimalism, nomadic living and travel: www.baggypop.com

Financial Ascensionist

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Re: Target FIRE: 2017
« Reply #403 on: October 15, 2016, 10:36:34 AM »
I am keeping track of the Bay Area Mustachians events.  I almost went to the hiking one, but I ended up with a last minute conflict, unfortunately.  I am sure we will meet face to face soon enough.

There is this check-list, and it's pretty good: http://forum.mrmoneymustache.com/post-fire/pre-fire-checklist/  Is there anything you all know you have to do rather soon that is not in there?  Anyone reading "How to Engineer your Layoff"?

Metta

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Re: Target FIRE: 2017
« Reply #404 on: October 16, 2016, 11:16:23 AM »
My last day at work will now be Dec. 31, 2016, so I've decided that I straddle 2016 and 2017 and am keeping myself on both lists. I've completed my paperwork at work and am now planning my retirement party.


Metta            (at 55) January 1, 2017 
MrsWhipple       (at 32) January 1, 2017 
MsGreenStash     (at 51) January 1, 2017
FIRE me                  January 3, 2017
Zineth           (at 49) January 17, 2017
MarciaB          (at 55) January 31, 2017
rahby1us                 January 31, 2017
mf3333           (at 56) January 31, 2017
easypeasy        (at 35) March 15, 2017   
Myhotrs          (at 38) March 31, 2017   
oblivion                 March 31, 2017
Zephyr911        (at 38) April 1, 2017
Threshkin        (at 59) April 15, 2017   
Jojo                     April 28, 2017
MandyM           (at 38) May 1, 2017     
Mrs. Pomodoro            May 1, 2017
Mrs. SwordGuy            May 16, 2017
SwordGuy         (at 59) May 16, 2017
Rachael                  May 21, 2017
RedmondStash             May 31, 2017
Jack06           (at 42) June 1, 2017     
Fairviewite              June 1, 2017
Romag                    June 1, 2017
Cottonswab       (at 30) June 1, 2017
Financial Asc.   (at 39) June 1, 2017
Charlie Foxtrot  (at 41) July 1, 2017
Bigchrisb                July 14 2017
Freedom17        (at 38) July 28, 2017
UnleashHell              July 28, 2017
Cookie78         (at 39) August 3, 2017
Jim2001                  December 31, 2017
noble_goal               OMY

MarciaB

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Re: Target FIRE: 2017
« Reply #405 on: October 16, 2016, 11:32:00 AM »
Congrats Metta! And very fun to be the member of 2 classes.

On a side note - I'm looking for a Class Of 2017 member to help me look over my financial plans with an unbiased eye. Bonus points if you're in your mid-50s or older. Anyone who would be willing to help please PM me. Thanks.
My blog on topics having to do with minimalism, nomadic living and travel: www.baggypop.com

MarciaB

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Re: Target FIRE: 2017
« Reply #406 on: October 16, 2016, 01:42:09 PM »
Added you BNgarden:


Metta            (at 55) January 1, 2017 
MrsWhipple       (at 32) January 1, 2017 
MsGreenStash     (at 51) January 1, 2017
FIRE me                  January 3, 2017
Zineth           (at 49) January 17, 2017
MarciaB          (at 55) January 31, 2017
rahby1us                 January 31, 2017
mf3333           (at 56) January 31, 2017
easypeasy        (at 35) March 15, 2017   
Myhotrs          (at 38) March 31, 2017   
oblivion                 March 31, 2017
Zephyr911        (at 38) April 1, 2017
Threshkin        (at 59) April 15, 2017   
Jojo                     April 28, 2017
MandyM           (at 38) May 1, 2017     
Mrs. Pomodoro            May 1, 2017
Mrs. SwordGuy            May 16, 2017
SwordGuy         (at 59) May 16, 2017
BNgarden         (at 58) May 16, 2017
Rachael                  May 21, 2017
RedmondStash             May 31, 2017
Jack06           (at 42) June 1, 2017     
Fairviewite              June 1, 2017
Romag                    June 1, 2017
Cottonswab       (at 30) June 1, 2017
Financial Asc.   (at 39) June 1, 2017
Charlie Foxtrot  (at 41) July 1, 2017
Bigchrisb                July 14 2017
Freedom17        (at 38) July 28, 2017
UnleashHell              July 28, 2017
Cookie78         (at 39) August 3, 2017
Jim2001                  December 31, 2017
noble_goal               OMY
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MandyM

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Re: Target FIRE: 2017
« Reply #407 on: October 17, 2016, 06:17:10 AM »

My immediate post-FIRE plan is to take off for 3 month to a North American climbing destination, followed by another 3 months into one of the warmer climbing mecca, most likely Las Vegas or Moab.

FYI - there is thread going about a meetup in Moab October 2018: http://forum.mrmoneymustache.com/meetups-and-social-events/moab-utah-usa-in-october-2018/new/?topicseen#new
"Freedom lies in being bold." -Robert Frost

myhotrs

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Re: Target FIRE: 2017
« Reply #408 on: October 20, 2016, 08:26:00 PM »
Am I crazy for considering working longer to buy a Model S or 3? It would take me about six months at my current savings rate for the S and half that for the 3, insurance will be more money forever, still tempting...
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.

zephyr911

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Re: Target FIRE: 2017
« Reply #409 on: October 21, 2016, 10:44:02 AM »
Am I crazy for considering working longer to buy a Model S or 3? It would take me about six months at my current savings rate for the S and half that for the 3, insurance will be more money forever, still tempting...
Short answer: You're not crazy for considering anything in particular, if it's in line with your priorities.
Long answer: I haven't really mentioned it here*, but I recently bought a 2012 P85. I've watched the company since the beginning, debated long and hard with myself where that fit into my priority stack, and finally made up my mind early this year. The crux of the matter for me was that I value a few other things at least as much as FIRE, and the main reason I want FI is to reallocate the time and energy currently going to my FT job into advocating for renewable energy and electric transportation. So, it's part and parcel of the same effort, at least for me... it might cost me a few months on the "magic number" date, but it's all tied up in the same set of goals, and it's here now. Just like my solar panels, home efficiency upgrades, etc.
I actually hate the fact that it's a luxury car, because I'm a dirty mofo and the niceties are wasted on me, but it's quite effective for what I got it for... showing my friends, neighbors, and CWs that a well-designed EV can kick the shit out of the ICE equivalent at everything cars do. Hardly a week goes by that I don't take someone for a ride, attend an event, do Q&A, etc, and the results are invariably positive. So, for me, this is just allocating resources according to what matters to me.
Total cost of ownership is high by Mustachian standards, but it does pay back in various ways... regional road trips on Superchargers ($0) vs. plane tickets for 2 plus dog boarding ($$$), and local driving (home-charged) costs half of even the Prius' average ($.02-.03/mi vs ~$.05).
Post-FIRE, the travel cost savings will only increase, as we take advantage of our free time to get out more.
They also tend to be cheaper to insure than most people expect, because they're so incredibly safe, and maintenance is... what maintenance? The entire thing has like 20 moving parts, and even the disc brakes get so little wear that they're more likely to rust than wear out. Battery warranty, 8 years, unlimited miles, and so on.
Not the choice for everyone here, obviously. Not the choice for most. But my choice, for well-considered reasons.
As long as your choice is compatible with your own goals, nobody can fault it.

*I'm not ashamed of it, nor do I regret it in any sense, but the general sentiment being what it is, I don't want to get wrapped around the axle with dogmatic feedback.
Semi-FIREd December 2017, part-time entrepreneur, lover of puppies and saltwater.

rachael talcott

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Re: Target FIRE: 2017
« Reply #410 on: October 21, 2016, 06:07:32 PM »
Including my age.


Metta            (at 55) January 1, 2017 
MrsWhipple       (at 32) January 1, 2017 
MsGreenStash     (at 51) January 1, 2017
FIRE me                  January 3, 2017
Zineth           (at 49) January 17, 2017
MarciaB          (at 55) January 31, 2017
rahby1us                 January 31, 2017
mf3333           (at 56) January 31, 2017
easypeasy        (at 35) March 15, 2017   
Myhotrs          (at 38) March 31, 2017   
oblivion                 March 31, 2017
Zephyr911        (at 38) April 1, 2017
Threshkin        (at 59) April 15, 2017   
Jojo                     April 28, 2017
MandyM           (at 38) May 1, 2017     
Mrs. Pomodoro            May 1, 2017
Mrs. SwordGuy            May 16, 2017
SwordGuy         (at 59) May 16, 2017
BNgarden         (at 58) May 16, 2017
Rachael          (at 42) May 21, 2017
RedmondStash             May 31, 2017
Jack06           (at 42) June 1, 2017     
Fairviewite              June 1, 2017
Romag                    June 1, 2017
Cottonswab       (at 30) June 1, 2017
Financial Asc.   (at 39) June 1, 2017
Charlie Foxtrot  (at 41) July 1, 2017
Bigchrisb                July 14 2017
Freedom17        (at 38) July 28, 2017
UnleashHell              July 28, 2017
Cookie78         (at 39) August 3, 2017
Jim2001                  December 31, 2017
noble_goal               OMY

Fairviewite

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Re: Target FIRE: 2017
« Reply #411 on: October 21, 2016, 07:43:54 PM »
Decided to also include my age.


Metta            (at 55) January 1, 2017 
MrsWhipple       (at 32) January 1, 2017 
MsGreenStash     (at 51) January 1, 2017
FIRE me                  January 3, 2017
Zineth           (at 49) January 17, 2017
MarciaB          (at 55) January 31, 2017
rahby1us                 January 31, 2017
mf3333           (at 56) January 31, 2017
easypeasy        (at 35) March 15, 2017   
Myhotrs          (at 38) March 31, 2017   
oblivion                 March 31, 2017
Zephyr911        (at 38) April 1, 2017
Threshkin        (at 59) April 15, 2017   
Jojo                     April 28, 2017
MandyM           (at 38) May 1, 2017     
Mrs. Pomodoro            May 1, 2017
Mrs. SwordGuy            May 16, 2017
SwordGuy         (at 59) May 16, 2017
BNgarden         (at 58) May 16, 2017
Rachael          (at 42) May 21, 2017
RedmondStash             May 31, 2017
Jack06           (at 42) June 1, 2017     
Fairviewite      (at 27) June 1, 2017
Romag                    June 1, 2017
Cottonswab       (at 30) June 1, 2017
Financial Asc.   (at 39) June 1, 2017
Charlie Foxtrot  (at 41) July 1, 2017
Bigchrisb                July 14 2017
Freedom17        (at 38) July 28, 2017
UnleashHell              July 28, 2017
Cookie78         (at 39) August 3, 2017
Jim2001                  December 31, 2017
noble_goal               OMY

RedmondStash

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Re: Target FIRE: 2017
« Reply #412 on: October 21, 2016, 08:46:13 PM »
This was one of those weird days when work left a bad taste in my mouth because of some unpleasant stuff that went down. I normally really like my job. Now I am thinking I'll probably miss it less than I thought when I finally quit.

I'm still Class of 2017; I'm not stomping out the door today. But I keep doing the math and thinking, "I could -- as long as healthcare costs don't skyrocket, which they probably will."

What strategies do you use to keep those itchy feet still when you know staying is in your best interest but the math (barely) supports FIRE? How do you resist that allure -- or do you?

zephyr911

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Re: Target FIRE: 2017
« Reply #413 on: October 21, 2016, 08:59:24 PM »
Whiskey? xD
Last time it happened, I just came and vented here in this thread. Sometimes I just sit and think about the things I do like about the job, or I think about how far I've come and how incredibly empowering it is just to know dramatically I've altered my own trajectory in just a couple of years. Or I think about what I'll do with total freedom once it's mine.
I'm sure other tactics exist and might work, too. Maybe try skating down Alki Beach at midnight... ;)
Semi-FIREd December 2017, part-time entrepreneur, lover of puppies and saltwater.

myhotrs

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Re: Target FIRE: 2017
« Reply #414 on: October 22, 2016, 12:56:45 AM »
For me, as I get closer to the number, I care less and less. Its a bit scary letting stuff go at first but as you step back all the crap you were doing before seems less and less important. Now I have almost no stress and I'm still a top performer. I have literally stopped attending some meetings and leave a bit early daily with no repercussions (that I know of.)

The optics probably guarantee I'll be passed for any promotions, but I'm done soon anyways so I'm fine with it.
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.

Metta

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Re: Target FIRE: 2017
« Reply #415 on: October 22, 2016, 07:09:41 AM »
Because of the situation with my department, I am working extremely hard and fairly long hours these last few months. If we were not attempting to meet a ridiculous set of deadlines, I wouldn't be doing this right before leaving.

However, what I have given up is anything I deem to be paperwork for the sake of paperwork. I've stopped keeping my timesheet since it isn't actually used for anything other than justifying a manager's contention that an employee is or is not overworked. I am salaried so it is not required for paychecks. We do no charge backs based on it. I get no personal benefit from it and I suspect that if I were to have to look at the number of hours I am putting in each week, it would simply upset me.

Has anyone else drawn a line in the sand and said, "I have only x number of months left, I am not going to do xxx anymore?

RedmondStash

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Re: Target FIRE: 2017
« Reply #416 on: October 22, 2016, 10:23:02 AM »
Has anyone else drawn a line in the sand and said, "I have only x number of months left, I am not going to do xxx anymore?

Not really, but I'm starting to wonder if I should. Possibly more in the form of, "I have only x months left; I am going to do y and z, which are more fun, even though I'm supposed to do a and b."

myhotrs

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Re: Target FIRE: 2017
« Reply #417 on: October 22, 2016, 04:07:44 PM »
I'd say that almost all of us in the position to retire early are strong performers at work, even if you don't realize it (turns out most high performers underestimate others' incompetence). So if we were working late on a stupid deadline, I'd still leave whenever I thought I should. What could possibly happen? At my company, even if they wanted to fire me, the time to do that is longer than I have left, even with slack built in. I do have a pretty large bonus in March that I'm waiting for so I can't totally check-out or they'd probably f@@@ me on it so I'm putting in a solid 50%!
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.

zephyr911

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Re: Target FIRE: 2017
« Reply #418 on: October 22, 2016, 04:23:14 PM »
Dude, I think you're totally right.
I don't work very hard and I fuck off a lot, but I get things done really efficiently after six years of minimal task changes. These hard workers have me all fooled with their constant activity when they're really just spinning wheels with inefficient solutions as often as not....
Semi-FIREd December 2017, part-time entrepreneur, lover of puppies and saltwater.

RedmondStash

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Re: Target FIRE: 2017
« Reply #419 on: October 22, 2016, 07:50:21 PM »
I'd say that almost all of us in the position to retire early are strong performers at work, even if you don't realize it (turns out most high performers underestimate others' incompetence). So if we were working late on a stupid deadline, I'd still leave whenever I thought I should. What could possibly happen? At my company, even if they wanted to fire me, the time to do that is longer than I have left, even with slack built in. I do have a pretty large bonus in March that I'm waiting for so I can't totally check-out or they'd probably f@@@ me on it so I'm putting in a solid 50%!

I do get the vibe that people here are way too responsible for their own good. It's not our business at the end of the day.

I take pride in my work. I don't own the business, and I don't let the business push me around, but I'll be damned if I do less than my best work, for my own sense of accomplishment and satisfaction.

It helps that I genuinely enjoy the work, but I've always been this way, even with jobs I liked less. That work ethic is part of how I was able to earn at a level to make FIRE more than just a far-fetched dream. It also opened doors and created opportunities to do some amazing things in my life.

SwordGuy

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Re: Target FIRE: 2017
« Reply #420 on: October 22, 2016, 08:15:52 PM »
I'd say that almost all of us in the position to retire early are strong performers at work, even if you don't realize it (turns out most high performers underestimate others' incompetence). So if we were working late on a stupid deadline, I'd still leave whenever I thought I should. What could possibly happen? At my company, even if they wanted to fire me, the time to do that is longer than I have left, even with slack built in. I do have a pretty large bonus in March that I'm waiting for so I can't totally check-out or they'd probably f@@@ me on it so I'm putting in a solid 50%!

I do get the vibe that people here are way too responsible for their own good. It's not our business at the end of the day.

I take pride in my work. I don't own the business, and I don't let the business push me around, but I'll be damned if I do less than my best work, for my own sense of accomplishment and satisfaction.

It helps that I genuinely enjoy the work, but I've always been this way, even with jobs I liked less. That work ethic is part of how I was able to earn at a level to make FIRE more than just a far-fetched dream. It also opened doors and created opportunities to do some amazing things in my life.

Bravo!   I completely agree with you.

If someone hires you to do a job, do your best.   That doesn't mean working crazy hours they aren't paying you for, but it does mean doing your best for the time they pay you.

That kind of attitude pays dividends for the rest of your life.  Not only does it open opportunities for you that can be truly amazing, it also exercises the very skills that get you to FI (and will keep you there).

Metta

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Re: Target FIRE: 2017
« Reply #421 on: October 24, 2016, 09:49:24 AM »
I'd say that almost all of us in the position to retire early are strong performers at work, even if you don't realize it (turns out most high performers underestimate others' incompetence). So if we were working late on a stupid deadline, I'd still leave whenever I thought I should. What could possibly happen? At my company, even if they wanted to fire me, the time to do that is longer than I have left, even with slack built in. I do have a pretty large bonus in March that I'm waiting for so I can't totally check-out or they'd probably f@@@ me on it so I'm putting in a solid 50%!

I do get the vibe that people here are way too responsible for their own good. It's not our business at the end of the day.

I take pride in my work. I don't own the business, and I don't let the business push me around, but I'll be damned if I do less than my best work, for my own sense of accomplishment and satisfaction.

It helps that I genuinely enjoy the work, but I've always been this way, even with jobs I liked less. That work ethic is part of how I was able to earn at a level to make FIRE more than just a far-fetched dream. It also opened doors and created opportunities to do some amazing things in my life.

Bravo!   I completely agree with you.

If someone hires you to do a job, do your best.   That doesn't mean working crazy hours they aren't paying you for, but it does mean doing your best for the time they pay you.

That kind of attitude pays dividends for the rest of your life.  Not only does it open opportunities for you that can be truly amazing, it also exercises the very skills that get you to FI (and will keep you there).


My current office is filled with fairly competent and dedicated people. In the last couple of years the company has been reducing headcount. The work previously done by 60 people is now assigned to 35 people. So people have been doing overtime just to get ordinary work done. On top of that an extremely large project has been adopted by upper management that probably requires about 50 people to complete it by the deadline they have chosen. So they have divided the remaining 35 people (already doing the work of 60 people) and have assigned the legacy maintenance work to 3 of them (previously done by 50 of the 60 in this department).

Some of my colleagues are regularly working 100 hour weeks to get things done with the new burdens. Generally these are the most competent people, who in ordinary times handle a higher than ordinary load in 40 hours. In the last year I've seen 4 of my colleagues hospitalized for things that were probably the result of exhaustion or working through illness and not caring for themselves properly. Recently my management just announced that they were cancelling all leave time through next July because otherwise the project cannot get done. In addition, they will not allow people to roll over their unused vacation if they have not used it up. Management believes (and this is probably true) that they cannot allow people to take off weekends or take vacation and still make the crazy deadlines they have set.

I've been maintaining my personal policy of never working past 11 at night and taking at least one weekend day off and I am tired. My colleagues are being used up and this is a deliberate policy by management. I am fortunate that I have FU money and a plan to leave on December 31. Most here do not.

It is not always true that competent people can handle any amount of work handed to them without doing overtime. Sometimes management mismanages things. That is where we are today.

zephyr911

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Re: Target FIRE: 2017
« Reply #422 on: October 24, 2016, 10:03:56 AM »
Holy shit, that is utterly inhuman. Possibly some is even illegal. Consider a labor board complaint?
Semi-FIREd December 2017, part-time entrepreneur, lover of puppies and saltwater.

SwordGuy

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Re: Target FIRE: 2017
« Reply #423 on: October 24, 2016, 10:45:15 AM »
Only work extra if one or more of these conditions apply:

1) It is a true emergency, as opposed to a planned emergency (see the 35 people doing the work of 60 post above for a planned emergency).

2) You learn something that will improve your skills or marketability.

3) Your colleagues learn something that will improve their skills or marketability.

4) You are having fun doing it.


Threshkin

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Re: Target FIRE: 2017
« Reply #424 on: November 01, 2016, 10:07:09 AM »
I am now officially no longer a member of the class of 2017.  I have moved up to 2016!  I was RIF'd this morning and should get the package shortly.

I did a little dance of joy!

CanuckExpat

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Re: Target FIRE: 2017
« Reply #425 on: November 01, 2016, 10:12:38 AM »
I am now officially no longer a member of the class of 2017.  I have moved up to 2016!  I was RIF'd this morning and should get the package shortly.

I did a little dance of joy!

Congratulations on your upcoming termination! :)
Come on in, the water is pretty good.

Threshkin

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Re: Target FIRE: 2017
« Reply #426 on: November 01, 2016, 11:24:55 AM »
I am now officially no longer a member of the class of 2017.  I have moved up to 2016!  I was RIF'd this morning and should get the package shortly.

I did a little dance of joy!

Congratulations on your upcoming termination! :)
Come on in, the water is pretty good.

I have been wishing for a package for over a year now.  Just waiting for the courier to arrive.

oldtoyota

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Re: Target FIRE: 2017
« Reply #427 on: November 02, 2016, 08:05:34 AM »
I am now officially no longer a member of the class of 2017.  I have moved up to 2016!  I was RIF'd this morning and should get the package shortly.

I did a little dance of joy!

Congratulations!! How will you spend your first month?

Threshkin

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Re: Target FIRE: 2017
« Reply #428 on: November 02, 2016, 01:08:41 PM »
I am now officially no longer a member of the class of 2017.  I have moved up to 2016!  I was RIF'd this morning and should get the package shortly.

I did a little dance of joy!

Congratulations!! How will you spend your first month?

The first two days have been busy setting up personal phone service, transferring data to a new computer and prepping everything to return to corporate so they will pay me. 

I expect the first month will mainly be decompressing and getting accustomed to not working.  We are talking about travel and have $600 in CSR credit to spend before the end of the year.

oneyear

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Re: Target FIRE: 2017
« Reply #429 on: November 03, 2016, 04:28:48 PM »
What do you all plan to do if the markets stall or tank in the next few months? I'm hedging by putting 25% of my current equities into cash.

JoJo

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Re: Target FIRE: 2017
« Reply #430 on: November 03, 2016, 05:50:26 PM »
I am class of 2017, but started a new job in September and I'm actually loving it.  I'm tempted that instead of retiring, I ask to go to 80% time for a 20% pay cut next year, and take a month off a couple times a year and a few days off in the summer when the weather is nice for hiking.  Maybe even divert that 20% to pick up a 1/2 time/shared resource to keep things moving in the months I'm out.   I do have fear if I quit all these cool things I'm working on won't actually get finished.


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Re: Target FIRE: 2017
« Reply #431 on: November 03, 2016, 05:52:17 PM »
... allowing my wife to work ...

That would imply that you could forbid your wife from working.

I'm neither brave enough nor foolish enough to try such a thing with my wife. :)

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Re: Target FIRE: 2017
« Reply #432 on: November 03, 2016, 07:34:51 PM »
... allowing my wife to work ...

That would imply that you could forbid your wife from working.

I'm neither brave enough nor foolish enough to try such a thing with my wife. :)

I strongly discourage it, but she has these crazy ideas so what can you do?

Women. Going around thinking they're people. Pfft.

Financial Ascensionist

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Re: Target FIRE: 2017
« Reply #433 on: November 04, 2016, 12:33:33 AM »
What do you all plan to do if the markets stall or tank in the next few months?

I stopped auto-investing and now all my spare income goes into accumulating enough cash to fund year one.  Nothing else is affected, but I will probably opt for a lower expense level if the market is *really* down around June 2018. 

UnleashHell

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Re: Target FIRE: 2017
« Reply #434 on: November 04, 2016, 09:00:44 PM »
got promoted.
and extra money.
which is handy because the market isn't giving anything.

plan remains unchanged.
_____________
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SwordGuy

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Re: Target FIRE: 2017
« Reply #435 on: November 04, 2016, 09:23:43 PM »
What do you all plan to do if the markets stall or tank in the next few months?

I stopped auto-investing and now all my spare income goes into accumulating enough cash to fund year one.  Nothing else is affected, but I will probably opt for a lower expense level if the market is *really* down around June 2018.

My wife has to start taking mandatory 401k disbursements next fall.  She's planning on retiring this spring (though I think her paychecks will continue thru August as she gets paid on a 12 month plan).   

We'll continue to max out our 401Ks until we each retire (because I think the math still favors us doing that), but we'll probably stop buying stock the last 6 months or so.    That way, we'll build up our cash position pre-retirement.   

I'll know in a couple of weeks whether we're going to retire next year or not.    The suspense is killing me.

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Re: Target FIRE: 2017
« Reply #436 on: November 05, 2016, 04:16:53 AM »
My FIRE target doesn't have enough padding in my equities for a downturn but if this happens before I fire, then I'm really going to be in a buying frenzy. I had liquidated one holding last week and bought back on Friday. The result was an additional 300 shares. I'm continuing my weekly investments, but now siphoning off a percentage to hold in cash.

On the back of this thread I'm also getting a valuation on my commercial property. I don't take a rent from this currently as it's my company who is the renter and I'd have tax implications but may do post 2017. The rent alone should be my target monthly FIRE budget or very close to it.

Next year is looking busy already. I don't know if I mentioned this but as I don't want to officially re in 2017, I have planned sizeable vacations instead. We're already planning to be in the mountains for 3 weeks skiing and on the beach for a full month. We live near neither. Certainly there'll be a chunk of change thrown at this, but it's my incentive to keep working and to enjoy my time off.

SwordGuy

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Re: Target FIRE: 2017
« Reply #437 on: November 06, 2016, 04:31:13 PM »
Well, I'm about to flunk out of the 2017 FIRE cohort. 

Our offer to buy a mid-century modern home to restore got accepted.  We would prefer to keep a firehose of cash via my salary coming in whilst we're hiring out the expensive bits.

Our goal is to (a) not lose money and (b) restore the home and get it protected via some sort of historic registry.  (Still learning the ins and outs of that.)

If the costs for the roof, hvac, electrical, plumbing and mold/mildew remediation come in on the lower end, I might squeak by with a December date.  Otherwise, Spring of 2018.   


Financial Ascensionist

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Re: Target FIRE: 2017
« Reply #438 on: November 06, 2016, 04:51:33 PM »
SwordGuy,
sounds like you are delaying just a few months in order to comeback in a much stronger position of strength.  This sounds like exactly the right thing to do given your specific situation. 

SwordGuy

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Re: Target FIRE: 2017
« Reply #439 on: November 06, 2016, 05:20:15 PM »
SwordGuy,
sounds like you are delaying just a few months in order to comeback in a much stronger position of strength.  This sounds like exactly the right thing to do given your specific situation.

Thanks!

Personally, I think I'm probably being over-cautious.   I did the math and we should be fine if we paid off our current house and lost ALL the money on this rehab and I misread the info on the farm income I inherited and it will only be 1/2 what I expect.   

But I've been wrong before.  :)

So since it's not just my wife and I, but also our mentally handicapped daughter, I'll wait the extra time.  It's costing $100k to buy and I expect it to cost between $100k and $150k to buy it and fix it up.   I'm pretty darn sure I can sell it for $250,000 and can probably get a realtor to do it for free.  So, in theory, I should break even.   

We're going to go for historic property tax credits that could equal $40k to $50k.  But I can't count on that money because it's a new process for me and I don't know all the rules.   

It's possible the house could sell for a higher price, perhaps $350k if the market firms up and we get lucky with our buyer.   The right buyer will fall in love with the home.

We'll see. :)

RedmondStash

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Re: Target FIRE: 2017
« Reply #440 on: November 06, 2016, 07:47:15 PM »
I am now officially no longer a member of the class of 2017.  I have moved up to 2016!  I was RIF'd this morning and should get the package shortly.

I did a little dance of joy!

I love how on this forum, being laid off can be good news. Congrats, Threshkin!

It's getting harder and harder for me to justify sticking around at work through mid-2017 when we're basically bare-bones FI now. My job is still fun, but freedom is beckoning hard. All that writing! 3D modeling and animation! Making my own games! Sleeping in!

Ah, well. I'll stay through the end of this year and see where I'm at.

FIRE me

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Re: Target FIRE: 2017
« Reply #441 on: November 09, 2016, 08:50:05 AM »
Was anyone else in the class of 2017 counting on Obamacare?

I'm running some numbers on my post ACA insurance costs, and it isn't pretty.
FIRE'd on January 4, 2017

JoJo

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Re: Target FIRE: 2017
« Reply #442 on: November 09, 2016, 09:22:36 AM »
Was anyone else in the class of 2017 counting on Obamacare?

I'm running some numbers on my post ACA insurance costs, and it isn't pretty.

As someone who was planning to spend most of my time out of the US, and carry an international plan, I'll be happy when the mandate (tax) is gone.  No more the need to spend 330 days outside the US - coming home for a family emergency will be possible.

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Re: Target FIRE: 2017
« Reply #443 on: November 11, 2016, 08:00:56 AM »
I was factoring in Obamacare.   

Have any healthy people looked into calculating the expected cost of not buying insurance and just covering all expenses out of pocket? 



markbike528CBX

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Re: Target FIRE: 2017
« Reply #444 on: November 11, 2016, 08:25:33 AM »
Have any healthy people looked into calculating the expected cost of not buying insurance and just covering all expenses out of pocket?

Thread on the topic, http://forum.mrmoneymustache.com/welcome-to-the-forum/self-insured-specifically-health-insurance/

TL; DR  consensus not so enthusiastic,

FIRE me

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Re: Target FIRE: 2017
« Reply #445 on: November 11, 2016, 09:33:03 AM »
I was factoring in Obamacare.   

Have any healthy people looked into calculating the expected cost of not buying insurance and just covering all expenses out of pocket?

My expected medical costs (excluding dental) this year is $20 for a flu shot. It is the unexpected costs that concern me.
FIRE'd on January 4, 2017

MarciaB

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Re: Target FIRE: 2017
« Reply #446 on: November 11, 2016, 01:10:47 PM »
Was anyone else in the class of 2017 counting on Obamacare?

I'm running some numbers on my post ACA insurance costs, and it isn't pretty.

I sure am. And was disheartened to see that a potential recall/rebuild/re*F* of Obamacare might be coming down the pike.

I looked at plan information a couple of weeks ago, has anything changed since the election?
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MarciaB

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Re: Target FIRE: 2017
« Reply #447 on: November 11, 2016, 01:12:33 PM »
I am now officially no longer a member of the class of 2017.  I have moved up to 2016!  I was RIF'd this morning and should get the package shortly.

I did a little dance of joy!

Such excellent news Threshkin!! Congrats!
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MarciaB

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Re: Target FIRE: 2017
« Reply #448 on: November 11, 2016, 01:14:48 PM »
So, they interviewed a pile of candidates yesterday for my job...makes it very real that I have less than 3 months to go.

Anyone else started having disquieting dreams about their financial situation and the decision to fire as the time draws closer? I'm surprised that I have.
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SwordGuy

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Re: Target FIRE: 2017
« Reply #449 on: November 11, 2016, 03:14:21 PM »
Anyone else started having disquieting dreams about their financial situation and the decision to fire as the time draws closer?

Yes!