Author Topic: Target FIRE: 2017  (Read 164259 times)

Daisy

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Re: Target FIRE: 2017
« Reply #550 on: December 17, 2016, 11:37:55 AM »
I agree you need padding, especially with a market that might pull back a little.

Another option is to find a side hustle to get you through a down year.

Also have some padding in your expenses for the unknowns. That's why my travel budget is so large. If I have an unexpected health expense in a certain year, I can just cut back on travel. Which is exactly what happened to me this year, which made my yearly expenditures this year almost exact as last year.

We are all almost there, 2017ers!

bigchrisb

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Re: Target FIRE: 2017
« Reply #551 on: December 20, 2016, 10:52:15 PM »
Getting some more certainty around my date - going to have my last day on the first day of the new financial year (July 3).  This is to put any leave payouts (about $20k) into the next financial year (Australian tax year), which will be a lower tax year.  Have also booked in an arrival date into a new country for the 10th of August, so its all happening!

On the buffer and resiliance issues, I've suffered OMY syndrome for a while now.  My buffers are:
- My expected spend is lower than my portfolio income (dividends).  I know about the maths of total return, but psychologically this works for me.  Makes me think I'm still having a bit of cash flow.
- I'm intending on holding a years costs in cash.  The rest of the assets are in shares / property. 
- I'm accompanying my (soon to be) wife on a posting overseas for three years.  If FIRE doesn't work out, its a pretty easy story to pitch that I took a three year sabbatical to accompany her, and return to work afterwards.

Next step is trying to convince her that she can also RE after the three years.  Maths and I say she can, but she isn't ready for it - she still has some needs for work for stimulus, ego and goal hitting.

Threshkin        (at 59) Graduated to 2016!
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
Remote_Landlord  (at 39) May 8, 2017
easypeasy        (at 35) March 15, 2017   
Myhotrs          (at 38) March 31, 2017   
oblivion                 March 31, 2017
John Doe                 April 1, 2017
Daisy            (at 48) April 28, 2017
Zephyr911        (at 38) Summer 2017?
Jojo                     ?
MandyM           (at 38) May 1, 2017     
Mrs. Pomodoro            May 1, 2017
Penguin159                 May 12, 2017
Mrs. SwordGuy            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           (at 35) July 3, 2017
Freedom17        (at 38) July 28, 2017
UnleashHell              July 28, 2017
Cookie78         (at 39) August 3, 2017
Jim2001                  December 31, 2017
SwordGuy         (at 59) OMY
noble_goal               OMY


(p.s. how do you get this table to format?)
« Last Edit: December 20, 2016, 10:54:07 PM by bigchrisb »

zephyr911

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Re: Target FIRE: 2017
« Reply #552 on: December 21, 2016, 11:11:56 AM »
I'm still on track for end of May, but I have a slight quandary. The stock market is going nuts, and I don't trust it to sustain; I think we're in a bubble that's going to burst sometime in the next 6 months or so.

I know, I know, I can't know that for sure, you can't time the market, and over time it evens out. I'm not trying to time the market. I'm trying to figure out how you correctly evaluate a market that seems to be in a wild swing exactly when you're trying to get a sense of whether you've hit your FI number for realz.

Mostly spouse & I have opted to put a little extra padding into that FI number, but I'm wondering if anyone else is grappling with this, given how near our FIRE dates are now.

If I were counting on stock income, hell yes it would affect the calculus. For me, near-term FIRE income is all PT work and rents, so it doesn't matter much.

Where the market uncertainty does affect my thinking: I started my 2nd real estate company in July, and for various reasons, I diverted some of the seed money into dividend stocks to establish some income and let time pass. This is a thing I will run for its own sake regardless of my income needs, and I might delay FIRE just to pump more equity into it, especially if I sense a buying opportunity approaching.
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MarciaB

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Re: Target FIRE: 2017
« Reply #553 on: December 23, 2016, 02:41:31 PM »
OK - cleaned up the list a bit. We're looking good people!


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
John Doe                 April 1, 2017
Daisy            (at 48) April 28, 2017
MandyM           (at 38) May 1, 2017     
Mrs. Pomodoro            May 1, 2017
Remote_Landlord  (at 39) May 8, 2017
Penguin159               May 12, 2017
Mrs. SwordGuy            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
Zephyr911        (at 38) Summer 2017?
Charlie Foxtrot  (at 41) July 1, 2017
Bigchrisb        (at 35) July 3, 2017
Freedom17        (at 38) July 28, 2017
UnleashHell              July 28, 2017
Cookie78         (at 39) August 3, 2017
Jim2001                  December 31, 2017
SwordGuy         (at 59) OMY
noble_goal               OMY

To get the table to format you need to start with [ font=courier ] at the top of the list (but take out any spaces first). Thanks to SwordGuy for that tip (reply #371).
My (admittedly kinda lame) blog on topics having to do with stuff, paring down your stuff to nothing, travel, and misc: www.baggypop.com

jack06

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Re: Target FIRE: 2017
« Reply #554 on: December 24, 2016, 06:58:12 AM »
I'm still on track for end of May, but I have a slight quandary. The stock market is going nuts, and I don't trust it to sustain; I think we're in a bubble that's going to burst sometime in the next 6 months or so.

I know, I know, I can't know that for sure, you can't time the market, and over time it evens out. I'm not trying to time the market. I'm trying to figure out how you correctly evaluate a market that seems to be in a wild swing exactly when you're trying to get a sense of whether you've hit your FI number for realz.

Mostly spouse & I have opted to put a little extra padding into that FI number, but I'm wondering if anyone else is grappling with this, given how near our FIRE dates are now.

The way I see it is that if you were on track one year ago, the fact that the stock market seems riskier today because of the recent swing up should not change anything. The cautious thing to do, though, might be to base your SWR on the net worth you would have if the stock market behave more according to the long term expectations.

For the last 10 years or so, I've been using a metric to take into account those swings in the stock market and real estate. For my house, for instance, I keep a long term 2% yearly increase in its worth. Thus in my spreadsheet, I have two values: one is my real estimate of the current value, the other the long term value (which today is lower since the real estate market in my city has increased more than the long term 2% expected increase).

I do the same with my portfolio: I expect a long term real (after inflation) return of 4% for my entire portfolio (including bonds and cash). Thus I have two numbers: my real net worth, and my estimated 'long term' net worth. My estimated long term net worth would be lower than my real net worth in bull markets (like today) and higher in bear markets (it was the case from 2009 to 2013). 

My FIRE trigger is to reach 3.75% on both figures (real and estimated long term net portoflio worth - I exclude the house). The nice thing is, it is easy to predict when my long term net portfolio worth will reach my target since the stock market return is not part of the equation. It would take a big market crash (over 30%) for my real net worth to go below my SWR, given I'm about 60% stock and 40% bonds and cash.

MarciaB

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Re: Target FIRE: 2017
« Reply #555 on: December 24, 2016, 07:56:35 AM »
I'm still on track for end of May, but I have a slight quandary. The stock market is going nuts, and I don't trust it to sustain; I think we're in a bubble that's going to burst sometime in the next 6 months or so.

I know, I know, I can't know that for sure, you can't time the market, and over time it evens out. I'm not trying to time the market. I'm trying to figure out how you correctly evaluate a market that seems to be in a wild swing exactly when you're trying to get a sense of whether you've hit your FI number for realz.

Mostly spouse & I have opted to put a little extra padding into that FI number, but I'm wondering if anyone else is grappling with this, given how near our FIRE dates are now.

The way I see it is that if you were on track one year ago, the fact that the stock market seems riskier today because of the recent swing up should not change anything. The cautious thing to do, though, might be to base your SWR on the net worth you would have if the stock market behave more according to the long term expectations.

For the last 10 years or so, I've been using a metric to take into account those swings in the stock market and real estate. For my house, for instance, I keep a long term 2% yearly increase in its worth. Thus in my spreadsheet, I have two values: one is my real estimate of the current value, the other the long term value (which today is lower since the real estate market in my city has increased more than the long term 2% expected increase).

I do the same with my portfolio: I expect a long term real (after inflation) return of 4% for my entire portfolio (including bonds and cash). Thus I have two numbers: my real net worth, and my estimated 'long term' net worth. My estimated long term net worth would be lower than my real net worth in bull markets (like today) and higher in bear markets (it was the case from 2009 to 2013). 

My FIRE trigger is to reach 3.75% on both figures (real and estimated long term net portoflio worth - I exclude the house). The nice thing is, it is easy to predict when my long term net portfolio worth will reach my target since the stock market return is not part of the equation. It would take a big market crash (over 30%) for my real net worth to go below my SWR, given I'm about 60% stock and 40% bonds and cash.

This is really really smart! And did you start this system from day 1? I'm wondering if I could recreate my stuff (from the past 25+ years) and see what this might look like for me. Now where are those statements...
My (admittedly kinda lame) blog on topics having to do with stuff, paring down your stuff to nothing, travel, and misc: www.baggypop.com

jack06

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Re: Target FIRE: 2017
« Reply #556 on: December 24, 2016, 09:01:51 AM »
This is really really smart! And did you start this system from day 1? I'm wondering if I could recreate my stuff (from the past 25+ years) and see what this might look like for me. Now where are those statements...

Yes and no. Initially my goal was to mitigate my level of anxiety regarding the swings of the stock market and focus more on the long term. When the stock market crashed in 2008-2009, I would stop looking at the my real time net worth and rest my eyes on the long-term figure which was more optimistic (and even growing!). It helped a lot. 

Around 2013-2014, the long-term number finally crossed the real worth. It means that today, I'm also looking at a slightly pessimistic net worth. Does not mean by any way that it predicts the stock market to go down soon. I don't take any action (regarding my investments) based on the figure, for me it is just an additional way to look at my portfolio, a figure that seems to better track the long term value of my investments.

About two years ago, I decided to use it to determine my FIRE date, since I could use it to determine a rather precise date (actually the date would be January 2017, but we are going to celebrate our freedom by traveling 6 months in Europe so I added a few months of work to pay for the travel), as long as I stick to my budget and keep my job. I didn't mention but I also keep provisions for big ticket purchases. My net long term worth also substracts this value. Currently I have about 20k$ set aside (my budget includes 2000$ per year for big ticket spendings that, if not spent, is added to the provision). So if I have unexpected big expenses, as long as it is under 20k$, I will simply 'take' the money from the provision and the long term worth is not impacted.

RedmondStash

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Re: Target FIRE: 2017
« Reply #557 on: December 25, 2016, 10:53:34 AM »
I'm still on track for end of May, but I have a slight quandary. The stock market is going nuts, and I don't trust it to sustain; I think we're in a bubble that's going to burst sometime in the next 6 months or so.

I know, I know, I can't know that for sure, you can't time the market, and over time it evens out. I'm not trying to time the market. I'm trying to figure out how you correctly evaluate a market that seems to be in a wild swing exactly when you're trying to get a sense of whether you've hit your FI number for realz.

Mostly spouse & I have opted to put a little extra padding into that FI number, but I'm wondering if anyone else is grappling with this, given how near our FIRE dates are now.

The way I see it is that if you were on track one year ago, the fact that the stock market seems riskier today because of the recent swing up should not change anything. The cautious thing to do, though, might be to base your SWR on the net worth you would have if the stock market behave more according to the long term expectations.

For the last 10 years or so, I've been using a metric to take into account those swings in the stock market and real estate. For my house, for instance, I keep a long term 2% yearly increase in its worth. Thus in my spreadsheet, I have two values: one is my real estimate of the current value, the other the long term value (which today is lower since the real estate market in my city has increased more than the long term 2% expected increase).

I do the same with my portfolio: I expect a long term real (after inflation) return of 4% for my entire portfolio (including bonds and cash). Thus I have two numbers: my real net worth, and my estimated 'long term' net worth. My estimated long term net worth would be lower than my real net worth in bull markets (like today) and higher in bear markets (it was the case from 2009 to 2013). 

My FIRE trigger is to reach 3.75% on both figures (real and estimated long term net portoflio worth - I exclude the house). The nice thing is, it is easy to predict when my long term net portfolio worth will reach my target since the stock market return is not part of the equation. It would take a big market crash (over 30%) for my real net worth to go below my SWR, given I'm about 60% stock and 40% bonds and cash.

Nice. I've thought vaguely about doing something similar -- projecting based on estimated returns rather than existing ones -- but not with that level of precision. Thanks.

dragoncar

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Re: Target FIRE: 2017
« Reply #558 on: December 27, 2016, 03:03:01 PM »
Added myself below.  I decided I was FI in 2016, and decided to RE next year after stuffing my 401k.  Not sure the exact date as I haven't given notice yet... it's possible I'll have to GTFO as soon as I do.  I've also had some unfortunate volatility in my portfolio, so I'm not ending the year as strong as I'd like.  So I may end up earning more money later, but for the time being I need to at least take a long sabbatical.


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
dragoncar                March 1, 2017
easypeasy        (at 35) March 15, 2017   
Myhotrs          (at 38) March 31, 2017   
oblivion                 March 31, 2017
John Doe                 April 1, 2017
Daisy            (at 48) April 28, 2017
MandyM           (at 38) May 1, 2017     
Mrs. Pomodoro            May 1, 2017
Remote_Landlord  (at 39) May 8, 2017
Penguin159               May 12, 2017
Mrs. SwordGuy            May 16, 2017
Rachael          (at 42) May 21, 2017
BNgarden         (at 58) May 31, 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
Zephyr911        (at 38) Summer 2017?
Charlie Foxtrot  (at 41) July 1, 2017
Bigchrisb        (at 35) July 3, 2017
Freedom17        (at 38) July 28, 2017
UnleashHell              July 28, 2017
Cookie78         (at 39) August 3, 2017
Jim2001                  December 31, 2017
SwordGuy         (at 59) OMY
noble_goal               OMY
« Last Edit: December 27, 2016, 03:07:16 PM by dragoncar »

FIRE me

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Re: Target FIRE: 2017
« Reply #559 on: December 28, 2016, 09:50:02 AM »
Welcome, Dragoncar! 2017 is going to be a great year!
FIRE'd on January 4, 2017

rachael talcott

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Re: Target FIRE: 2017
« Reply #560 on: December 29, 2016, 03:52:17 PM »
We've got a bunch of people retiring in the first few days of January.  I want to hear reports on how awesome it is!

Threshkin

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Re: Target FIRE: 2017
« Reply #561 on: December 30, 2016, 01:37:51 PM »
We've got a bunch of people retiring in the first few days of January.  I want to hear reports on how awesome it is!

As someone who graduated early (Oct 31) I can tell you it is awesome in general but there are a few glitches in my case.  A silly one is that I have to keep reminding myself to pay bills.  I get on the computer so infrequently any more.

I am getting past an initial phase of not wanting to do anything and starting to get busy again.  Once it warms up I expect to be even more busy.

rachael talcott

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Re: Target FIRE: 2017
« Reply #562 on: December 30, 2016, 06:00:10 PM »
We've got a bunch of people retiring in the first few days of January.  I want to hear reports on how awesome it is!

As someone who graduated early (Oct 31) I can tell you it is awesome in general but there are a few glitches in my case.  A silly one is that I have to keep reminding myself to pay bills.  I get on the computer so infrequently any more.

I am getting past an initial phase of not wanting to do anything and starting to get busy again.  Once it warms up I expect to be even more busy.

Retired people problems!

(and can't you put your bills on autopay?  I've done that for years.)

SwordGuy

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Re: Target FIRE: 2017
« Reply #563 on: December 30, 2016, 07:35:30 PM »
My darling wife decided to stick it out one more year with me.


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
dragoncar                March 1, 2017
easypeasy        (at 35) March 15, 2017   
Myhotrs          (at 38) March 31, 2017   
oblivion                 March 31, 2017
John Doe                 April 1, 2017
Daisy            (at 48) April 28, 2017
MandyM           (at 38) May 1, 2017     
Mrs. Pomodoro            May 1, 2017
Remote_Landlord  (at 39) May 8, 2017
Penguin159               May 12, 2017
Rachael          (at 42) May 21, 2017
BNgarden         (at 58) May 31, 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
Zephyr911        (at 38) Summer 2017?
Charlie Foxtrot  (at 41) July 1, 2017
Bigchrisb        (at 35) July 3, 2017
Freedom17        (at 38) July 28, 2017
UnleashHell              July 28, 2017
Cookie78         (at 39) August 3, 2017
Jim2001                  December 31, 2017
SwordGuy         (at 59) OMY
Mrs. SwordGuy            OMY
noble_goal               OMY
[/quote]

dragoncar

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Re: Target FIRE: 2017
« Reply #564 on: December 30, 2016, 10:32:59 PM »
Why isn't she just Swordgal?  Not into swords?

SwordGuy

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Re: Target FIRE: 2017
« Reply #565 on: December 30, 2016, 10:37:54 PM »
Why isn't she just Swordgal?  Not into swords?

She's just into SwordGuys.  :)

Also history, pottery, glass fusing, textile arts,  painting, and lots more.   But not swords...

Itchyfeet

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Re: Target FIRE: 2017
« Reply #566 on: December 31, 2016, 07:17:34 AM »
Happy New Year from Australia.

I wish I was joining you all in freedom this year, but from today my final 2 year countdown starts.

I look forward to hearing your tales as motivation during my final push to freedom.

Metta

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Re: Target FIRE: 2017
« Reply #567 on: December 31, 2016, 08:07:48 AM »
My first real day of retirement will be January 1, since all my paperwork says that my last work day is December 31. However, in reality I turned in my laptop, my keys, my badge, and my access to the campus yesterday. I'm free and feeling....  Incredibly tired.

My last two weeks on the job I worked about 170 hours total (including on Christmas Day) in a mad attempt to get everything done, everyone properly transitioned, and to contact the people I'd worked with to say good-bye. (I didn't know that I had so many friends at my workplace, a few of them cried because I was leaving. It was a revelation to me.) Then my husband took me out to dinner last night and I fell asleep shortly afterwards.

I woke this morning and realized that two weeks spent at work means that the first order of business is setting my house in order. We have people coming over for Champagne and gaming so I can't really ignore it until tomorrow. I am not sure when I will feel the retirement truly. Perhaps on Tuesday when everyone else has to go back to work and I can sleep in.

MarciaB

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Re: Target FIRE: 2017
« Reply #568 on: January 01, 2017, 01:44:00 PM »
Woohoo! It's 2017!

Let the (retirement) games begin!
My (admittedly kinda lame) blog on topics having to do with stuff, paring down your stuff to nothing, travel, and misc: www.baggypop.com

RedmondStash

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Re: Target FIRE: 2017
« Reply #569 on: January 01, 2017, 04:36:45 PM »
Woohoo! It's 2017!

Let the (retirement) games begin!

I can't wait. Well, I will. But it ain't easy.

Daisy

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Re: Target FIRE: 2017
« Reply #570 on: January 01, 2017, 08:26:50 PM »
All we all FIRE'd up?

I'm really enjoying my long holiday off and am not looking forward to returning to the (short) grind soon.

myhotrs

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Re: Target FIRE: 2017
« Reply #571 on: January 01, 2017, 10:36:56 PM »
I'm with you Daisy. Haven't been to the office since the 19th and am its been fantastic. A mini FIRE drill.
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.

Cookie78

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Re: Target FIRE: 2017
« Reply #572 on: January 02, 2017, 07:51:38 AM »
Woohoo! It's 2017!

Let the (retirement) games begin!

Wooooooohooooo.
I'm feeling unstoppable the past two days since I took a close look at my financial spreadsheets. Unstoppable! It feels so amazing!

Metta

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Re: Target FIRE: 2017
« Reply #573 on: January 02, 2017, 08:13:41 AM »
This is my first real day of retirement. Everyone else has gone back to work but not me. I've been sick since Dec 31 and I woke up this morning thinking to myself, "How sick am I? Can I work from home? Any early morning meetings that I absolutely have to be there for?"

Just as I was about to start my mental whining about a workplace that seems to require work when sick (not officially, of course, but practically) I realized that I didn't have to do anything if I were sick. I could stay in bed and heal. So I went back to sleep. Luxury! Who knew that an expression of ultimate luxury to me would be the ability to take care of myself when sick. I felt just a bit decadent as I burrowed into my covers. Definitely grateful.

One other surprise came to me this weekend when I realized that no one was surveilling me for once. I've removed my workplace's software from my phone, which also allowed them to track me and see other items on my phone (not that I am saying that they do this, but the software allows them to). I hadn't realized that this was a burden on the free expression of my soul until it was gone. And now that I've written it up here my reaction is "Seriously? You thought this didn't affect you? Deluded much?"

There is so much more to freedom from work than being able to sleep late.

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Re: Target FIRE: 2017
« Reply #574 on: January 02, 2017, 08:31:52 AM »
This is my first real day of retirement. Everyone else has gone back to work but not me. I've been sick since Dec 31 and I woke up this morning thinking to myself, "How sick am I? Can I work from home? Any early morning meetings that I absolutely have to be there for?"

Just as I was about to start my mental whining about a workplace that seems to require work when sick (not officially, of course, but practically) I realized that I didn't have to do anything if I were sick. I could stay in bed and heal. So I went back to sleep. Luxury! Who knew that an expression of ultimate luxury to me would be the ability to take care of myself when sick. I felt just a bit decadent as I burrowed into my covers. Definitely grateful.

One other surprise came to me this weekend when I realized that no one was surveilling me for once. I've removed my workplace's software from my phone, which also allowed them to track me and see other items on my phone (not that I am saying that they do this, but the software allows them to). I hadn't realized that this was a burden on the free expression of my soul until it was gone. And now that I've written it up here my reaction is "Seriously? You thought this didn't affect you? Deluded much?"

There is so much more to freedom from work than being able to sleep late.

Congrats!  I still have until May, but I'm already realizing how much I had been talking myself into believing that it really isn't that bad. 

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Re: Target FIRE: 2017
« Reply #575 on: January 02, 2017, 10:47:42 AM »
This is my first real day of retirement. Everyone else has gone back to work but not me. I've been sick since Dec 31 and I woke up this morning thinking to myself, "How sick am I? Can I work from home? Any early morning meetings that I absolutely have to be there for?"

Just as I was about to start my mental whining about a workplace that seems to require work when sick (not officially, of course, but practically) I realized that I didn't have to do anything if I were sick. I could stay in bed and heal. So I went back to sleep. Luxury! Who knew that an expression of ultimate luxury to me would be the ability to take care of myself when sick. I felt just a bit decadent as I burrowed into my covers. Definitely grateful.

One other surprise came to me this weekend when I realized that no one was surveilling me for once. I've removed my workplace's software from my phone, which also allowed them to track me and see other items on my phone (not that I am saying that they do this, but the software allows them to). I hadn't realized that this was a burden on the free expression of my soul until it was gone. And now that I've written it up here my reaction is "Seriously? You thought this didn't affect you? Deluded much?"

There is so much more to freedom from work than being able to sleep late.

Congratulations, Metta! Enjoy your well earned rest and freedom!

This is the first long holiday weekend that I ever wanted it to be over with so I can get my last day of work done with and out of the way.

Due to the random production schedule, tomorrow will be a shit day at work for me, but knowing I will never have to do it again will make it all the sweeter.
FIRE'd on January 4, 2017

RedmondStash

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Re: Target FIRE: 2017
« Reply #576 on: January 02, 2017, 01:42:59 PM »
This is my first real day of retirement. Everyone else has gone back to work but not me. I've been sick since Dec 31 and I woke up this morning thinking to myself, "How sick am I? Can I work from home? Any early morning meetings that I absolutely have to be there for?"

Just as I was about to start my mental whining about a workplace that seems to require work when sick (not officially, of course, but practically) I realized that I didn't have to do anything if I were sick. I could stay in bed and heal. So I went back to sleep. Luxury! Who knew that an expression of ultimate luxury to me would be the ability to take care of myself when sick. I felt just a bit decadent as I burrowed into my covers. Definitely grateful.

One other surprise came to me this weekend when I realized that no one was surveilling me for once. I've removed my workplace's software from my phone, which also allowed them to track me and see other items on my phone (not that I am saying that they do this, but the software allows them to). I hadn't realized that this was a burden on the free expression of my soul until it was gone. And now that I've written it up here my reaction is "Seriously? You thought this didn't affect you? Deluded much?"

There is so much more to freedom from work than being able to sleep late.

Nice to hear that the water's fine from the other side. I'm hoping the months between now and when I take the plunge go by quickly and smoothly. And profitably.

MrsWhipple

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Re: Target FIRE: 2017
« Reply #577 on: January 02, 2017, 10:01:04 PM »
Time to see how my 2017 budget pans out, I guess! Feels weird to be spending more than I'm making, that's for sure. Will be focusing on the new baby 100% and figuring out whether we should move to a lower COL area. We have plenty of buffer in case we need to do part time work, and I'm already starting to miss teaching/tutoring, so I may go back to that field in the future.

Big Audacious Goal: create a math "curriculum" based on games and puzzles, both for my kid and for other homeschooled kids.. I plan to homeschool, but we'll see once she's older I suppose! I'd also like to make new friends in the homeschooling community around here to grow my social group.

Whew! Feels good, man :)

SwordGuy

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Re: Target FIRE: 2017
« Reply #578 on: January 02, 2017, 10:53:39 PM »
Well, I went thru the numbers as best I can at the moment and we officially qualify as having OMY disease.

In principle, we could quit our jobs tomorrow and sell our stock out of 401ks and other investments to pay off our mortgage, our HELOC, repair our two not-year-ready rentals, and he repairs on the mid-century modern house we bought to fix and flip.  And then give away that house instead of flipping it.

We could never make a dime on our stock investments and still run a surplus (not counting the $20,000 to fix up the two rentals, $150,000 to fix up the flip, and the $180,000 to pay off the mortgage and the $40,000 to pay off the HELOC).

We really should retire at the end of this spring semester.

But my wife is on board to retire one year after that.   And, frankly, so am I.

We both feel much better having a firehose of cash coming in while we'll be spending so much on the flip house.

It's that $390,000 of cash outflow that's mighty scary.   Our salaries after taxes will cover $178,000 of that outlay over the next 17 months.   That gets us down to just $212,000 taken out of the stash, which is still a scary amount.  However, at that point in time, we should be within 6 months of finishing the flip (and all the big expenses would be known by then), which would bring in at least $250,000, which leaves the current stash amount intact or even bigger. 

I'm not a genius financial analyst, but the reason we actually **have** a stash is because once we saved some money we just didn't spend it.  It was out of bounds.   

We might invest it, but we didn't spend it.  And frankly, I would like to keep it that way.    Intellectually I know that a flexible implementation of the 4% rule allows you to sell stock to live off of and you're not likely to run out of money - ever.  But there's intellectually knowing something and then there's sleeping well at night.   

Plus, since the biggest danger to a stock portfolio is a sequence of returns risk, it seems like the biggest safety feature for the portfolio is not to have to use it for daily living for the first 10 years.  Or even better, ever, which is where we should be within the year.

Yep, we're definitely two victims of OMY syndrome.

If we get all our rentals fixed up and rented, and health care for me will be affordable, and all the big ticket items on the flip (Roof, HVAC, Electrical, Plumbing, Mold Remediation, Heating Oil tank fill-up/removal and acceptance on the 40% Historical Property Repair Tax Credit ) all come in on or under budget, I may FIRE at that time instead of waiting for my wife to finish teaching her school year.  Here's hoping I'm back on this list before the end of the year!







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Re: Target FIRE: 2017
« Reply #579 on: January 03, 2017, 02:05:47 PM »
DW's last day of FT work is tomorrow, and while she's probably still going to work better than half-time, it's kind of a momentous occasion for me, because I don't expect her to ever have a FT job again and I still plan on following within the year. This will mean much more flexibility for both of us, and more time off (her limited PTO has been a real hindrance to travel) and we'll still have a collective SR well over 50% to bring us down the home stretch.
Feels good to be headed in the right direction here.
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Metta

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Re: Target FIRE: 2017
« Reply #580 on: January 03, 2017, 03:21:48 PM »
DW's last day of FT work is tomorrow, and while she's probably still going to work better than half-time, it's kind of a momentous occasion for me, because I don't expect her to ever have a FT job again and I still plan on following within the year. This will mean much more flexibility for both of us, and more time off (her limited PTO has been a real hindrance to travel) and we'll still have a collective SR well over 50% to bring us down the home stretch.
Feels good to be headed in the right direction here.

That is excellent, Zephyr and congratulations to Mrs. Zephyr! Excellent SR as well!

Metta

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Re: Target FIRE: 2017
« Reply #581 on: January 03, 2017, 03:24:05 PM »

Nice to hear that the water's fine from the other side. I'm hoping the months between now and when I take the plunge go by quickly and smoothly. And profitably.

So far the water is awesome. No sharks that I can see. Looking forward to seeing you in the surf with the rest of us FIRE'rs!

zephyr911

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Re: Target FIRE: 2017
« Reply #582 on: January 03, 2017, 03:25:38 PM »
That is excellent, Zephyr and congratulations to Mrs. Zephyr! Excellent SR as well!
There was a lot of luck involved, but thanks. I'd like to get it back over 60% for the rest of my FT employment period.
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Metta

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Re: Target FIRE: 2017
« Reply #583 on: January 03, 2017, 03:26:00 PM »
If we get all our rentals fixed up and rented, and health care for me will be affordable, and all the big ticket items on the flip (Roof, HVAC, Electrical, Plumbing, Mold Remediation, Heating Oil tank fill-up/removal and acceptance on the 40% Historical Property Repair Tax Credit ) all come in on or under budget, I may FIRE at that time instead of waiting for my wife to finish teaching her school year.  Here's hoping I'm back on this list before the end of the year!

We'll keep your seat warm in the Class of 2017. Hopefully the expenses will come in under budget!

Metta

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Re: Target FIRE: 2017
« Reply #584 on: January 03, 2017, 03:27:15 PM »
That is excellent, Zephyr and congratulations to Mrs. Zephyr! Excellent SR as well!
There was a lot of luck involved, but thanks. I'd like to get it back over 60% for the rest of my FT employment period.

There is always luck (bad and good) in this game. The question is what you do with your luck that makes the difference.

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Re: Target FIRE: 2017
« Reply #585 on: January 03, 2017, 05:21:36 PM »
That is excellent, Zephyr and congratulations to Mrs. Zephyr! Excellent SR as well!
There was a lot of luck involved, but thanks. I'd like to get it back over 60% for the rest of my FT employment period.

There is always luck (bad and good) in this game. The question is what you do with your luck that makes the difference.

That is SO VERY true!

Case in point:  Hail storm totals both our cars.   Only cosmetic damage, though.   Everyone else lost their deductible (at least) by fixing their car or buying a new one.   We bought our totaled cars back for pennies on the dollar and put $10,000 in our pocket.  (Which we didn't rush out and spend right away, as that money would be needed to replace the car it was ruined in a accident, for example.)

Same situation.  Two different responses.    We got a $200 trade in when we finally replaced my wife's car some years later.  I'm still driving mine.  :)

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Re: Target FIRE: 2017
« Reply #586 on: January 03, 2017, 10:15:18 PM »
I'm FIRE'd. My locker is cleaned out and I will return on Friday (I scheduled personal days for Wednesday, Thursday and Friday) to give HR their keys, time card, parking permit, and security badge.

The day felt oddly anticlimactic. I expected a manic grin and a pounding heart, especially at the end of the day. That didn't happen.  I have had the last day before a week of vacation go slower and felt more anticipation. I guess it will sink in later, in a good way.

It was a little hard to stay focused on the job.

On of the most satisfying moments of the day was deleting a daily alarm on my phone that alerted me to the end of my lunch break. I won't be needing that any more.
FIRE'd on January 4, 2017

Threshkin

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Re: Target FIRE: 2017
« Reply #587 on: January 03, 2017, 11:01:13 PM »
We've got a bunch of people retiring in the first few days of January.  I want to hear reports on how awesome it is!

As someone who graduated early (Oct 31) I can tell you it is awesome in general but there are a few glitches in my case.  A silly one is that I have to keep reminding myself to pay bills.  I get on the computer so infrequently any more.

I am getting past an initial phase of not wanting to do anything and starting to get busy again.  Once it warms up I expect to be even more busy.

Retired people problems!

(and can't you put your bills on autopay?  I've done that for years.)

I have some on autopay but have been resistant because I don't like letting others have the ability to withdraw money from my account.  That resistance is fading now that I don't spend all day in front of my computer for work.

Freedom17

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Re: Target FIRE: 2017
« Reply #588 on: January 04, 2017, 06:16:27 AM »
Is anyone having a really hard time being engaged at work? I've been working 9:30 - 4 these days and even that has become a struggle. I had a little work to keep me busy but they keep giving me new people and by the time I gave them something to do there was nothing really left for me. I've been taking long lunches and listening to coursera courses but things are going so slowly.



MandyM

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Re: Target FIRE: 2017
« Reply #589 on: January 04, 2017, 06:48:17 AM »
Is anyone having a really hard time being engaged at work? I've been working 9:30 - 4 these days and even that has become a struggle. I had a little work to keep me busy but they keep giving me new people and by the time I gave them something to do there was nothing really left for me. I've been taking long lunches and listening to coursera courses but things are going so slowly.

*raises hand earnestly* YES. Although, I've been struggling for months now. I chose May 1 as my FIRE date, but I will be talking to my boss in the next week or two about going part time. So, sort of pulling the plug early, sort of delaying. I look at it as the former.
"Freedom lies in being bold." -Robert Frost

Acastus

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Re: Target FIRE: 2017
« Reply #590 on: January 04, 2017, 11:25:36 AM »
As Fiona says in "Shrek," I know it's today.

Everything looks good on paper for sometime this year. I would like to build a small cushion to finance some of my son's college in 2-3 years. I need to see what happens to healthcare. I was really counting on Obamacare, with a subsidized cost of ~$400/mo for my family. That will all go down in flames this year, I am sure.

I got group insurance through the Chamber of Commerce in MA before ACA/Romneycare kicked in. That should reappear for anyone that is self employed, even at the hobbiest level.

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Re: Target FIRE: 2017
« Reply #591 on: January 04, 2017, 12:39:24 PM »
As Fiona says in "Shrek," I know it's today.

Everything looks good on paper for sometime this year. I would like to build a small cushion to finance some of my son's college in 2-3 years. I need to see what happens to healthcare. I was really counting on Obamacare, with a subsidized cost of ~$400/mo for my family. That will all go down in flames this year, I am sure.

It ain't over till it's over. A full repeal without comprehensive substitute options in place would be a disaster for the GOP. The reality they don't like to admit is that middle-America red states (OK, the ones that actually let it happen) saw the highest proportion of their residents benefit from this... you know, the states with the most poverty, worst health, and lowest proportion of jobs with benefits?

It will be interesting to see.
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Metta

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Re: Target FIRE: 2017
« Reply #592 on: January 04, 2017, 09:03:57 PM »
I'm FIRE'd. My locker is cleaned out and I will return on Friday (I scheduled personal days for Wednesday, Thursday and Friday) to give HR their keys, time card, parking permit, and security badge.

The day felt oddly anticlimactic. I expected a manic grin and a pounding heart, especially at the end of the day. That didn't happen.  I have had the last day before a week of vacation go slower and felt more anticipation. I guess it will sink in later, in a good way.

It was a little hard to stay focused on the job.

On of the most satisfying moments of the day was deleting a daily alarm on my phone that alerted me to the end of my lunch break. I won't be needing that any more.

Woohoo! Congratulations. Slide right in to our FIREd warm water.

Acastus

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Re: Target FIRE: 2017
« Reply #593 on: January 05, 2017, 11:32:10 AM »

It ain't over till it's over. A full repeal without comprehensive substitute options in place would be a disaster for the GOP. The reality they don't like to admit is that middle-America red states (OK, the ones that actually let it happen) saw the highest proportion of their residents benefit from this... you know, the states with the most poverty, worst health, and lowest proportion of jobs with benefits?

It will be interesting to see.

The GOP has been the party of No so long, I don't think they know how to create legislation anymore. A handful of senators seem to have reservations about repeal and ... <crickets>, so the next couple months should be interesting. The remainder just want to kill healthcare because it is named "Obama." Never mind they named it that. Maybe they will fail to kill it, then I can FIRE.

As something of a Yankee, I am bemused that many citizens think the GOP wants to fix the ACA. The party and their prexy have only ever said they would repeal it.

FrugalAussie

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Re: Target FIRE: 2017
« Reply #594 on: January 05, 2017, 04:09:53 PM »
I resigned yesterday!

About 20 years ago, during a visit to the US (I'm Australian), I read the book Your Money or Your Life. As a sole parent on a low/average variable income I struggled financially for so long that I did despair if I'd ever get ahead financially. Some years were incredibly lean and so very stressful. Two strategies I could implement were to avoid non-housing debt and to build experience and skill in my profession.  When my youngest child turned 16 my income started to climb significantly so I could aggressively save. Now, at the age of 51, I can afford to comfortably retire.

Six years ago I met my partner, he's also frugal and a saver.  He too can afford to retire.  Today he goes to work to put in place his retirement plan.

My boss is reluctant to let me go so my exit from work will be somewhat graduated, the same for my SO, but by the end of this year we will definitely both be FIRE.

As many have said before me, MMM has been a godsend.  Retiring early is counter cultural for the majority of Australians and most of the people I know have spending habits that aren't conducive to saving. While I've tried to champion frugal choices I have felt like a bit of a weirdo at times. By lurking on the MMM forums my FIRE goal has been reaffirmed so I've moved forward and now here I am, in the last few months of work. THANK YOU all.

Freedom17

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Re: Target FIRE: 2017
« Reply #595 on: January 05, 2017, 05:52:04 PM »
That's fantastic. Congratulations!



Daisy

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Re: Target FIRE: 2017
« Reply #596 on: January 05, 2017, 06:04:16 PM »
FrugalAussie, it sounds like you were able to FIRE on your own efforts as a single mom which is amazing...and then you met a nice frugal man which probably makes it even easier to FIRE!

That's my dream (as a single woman)...although happily single too. I think MMM had a post about a woman that FIRE'D to become a kayak guide and then met here dream partner that was doing the same.

Congratulations!

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Re: Target FIRE: 2017
« Reply #597 on: January 05, 2017, 07:01:53 PM »
Hi Daisy.  If my relationship ended tomorrow I could still FIRE.  I'm fiercely independent so it's very important to me that I'm financially secure myself. Having said that, you're right, having a partner who has the same goal is fantastic as we support each other and ensure we have fun along the way.  We also check each other when we think we might be crossing over from frugal to cheap!

Metta

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Re: Target FIRE: 2017
« Reply #598 on: January 05, 2017, 07:10:24 PM »
I resigned yesterday!

About 20 years ago, during a visit to the US (I'm Australian), I read the book Your Money or Your Life. As a sole parent on a low/average variable income I struggled financially for so long that I did despair if I'd ever get ahead financially. Some years were incredibly lean and so very stressful. Two strategies I could implement were to avoid non-housing debt and to build experience and skill in my profession.  When my youngest child turned 16 my income started to climb significantly so I could aggressively save. Now, at the age of 51, I can afford to comfortably retire.

Six years ago I met my partner, he's also frugal and a saver.  He too can afford to retire.  Today he goes to work to put in place his retirement plan.

My boss is reluctant to let me go so my exit from work will be somewhat graduated, the same for my SO, but by the end of this year we will definitely both be FIRE.

As many have said before me, MMM has been a godsend.  Retiring early is counter cultural for the majority of Australians and most of the people I know have spending habits that aren't conducive to saving. While I've tried to champion frugal choices I have felt like a bit of a weirdo at times. By lurking on the MMM forums my FIRE goal has been reaffirmed so I've moved forward and now here I am, in the last few months of work. THANK YOU all.

That's excellent FrugalAussie! We were also inspired by YMOYL about 20 years ago. So we are sort of YMOYL sisters. :)

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Re: Target FIRE: 2017
« Reply #599 on: January 05, 2017, 07:14:27 PM »
I go to PT on April 1 and to celebrate my 'semi' RE, we just booked a 10 day trip to Paris leaving on April 9!!!!  Wow this is really happening......