Author Topic: 2018 FIRE cohort  (Read 126571 times)

sol

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Re: 2018 FIRE cohort
« Reply #250 on: March 01, 2017, 04:00:09 PM »
I'm feeling pretty good. Still might pull the plug this year and ditch all you 2018ers! :)

I think a lot of us are eyeing the current market run-up and fantasizing about moving our dates up, but we've already discussed the hazards of that approach. 

People who retire based only on today's dollar figure are more likely to retire at a market peak, and suffer lower than average returns after that.  Better to make longer term predictions based on longer term averages, rather than bail at the earliest chance solely because of a recent hot streak.

Maybe the streak holds.  I hope it does, but I'm not willing to add risk to my retirement matrix by counting on it.

Retire-Canada

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Re: 2018 FIRE cohort
« Reply #251 on: March 01, 2017, 04:06:55 PM »
If I hit my 4%WR target $$$ during this rally I'd FIRE. Sadly it's not going to happen most likely as the gap is still too big.

Fresh Bread

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Re: 2018 FIRE cohort
« Reply #252 on: March 01, 2017, 04:09:35 PM »
I floated a few retirement project ideas past hubby last night and I might have detected a glimmer of interest in his eyes. I've got plenty lined up for myself but I do worry about him - it's not that he won't fill his days productively, it's that his current ideas involve big things like renovating property for fun which a) will use a lot of our income producing wealth and b) we'll be lucky to break even in our local market due to purchase taxes and c) sounds too much like work to me! I have said, let's get the granny flat built, and if you are still keen, we'll do some major refurbs to our main house, and if you're STILL keen, we'll figure out how to buy a small place to do up.

I think he's worried that he'll get fat and bored, but based on time he's taken off work in the past, that's not going to happen! Maybe he's actually worried about what people will think, so I'll talk to him again and let him know the lines people say to throw people off the scent e.g. I'm a trader, I'm working freelance from home etc. He's involved with a charity once a month right now, and I see him taking a bigger role in that and he can just tell people he has a job there.


dividendman

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Re: 2018 FIRE cohort
« Reply #253 on: March 01, 2017, 04:44:19 PM »
I'm feeling pretty good. Still might pull the plug this year and ditch all you 2018ers! :)

I think a lot of us are eyeing the current market run-up and fantasizing about moving our dates up, but we've already discussed the hazards of that approach. 

People who retire based only on today's dollar figure are more likely to retire at a market peak, and suffer lower than average returns after that.  Better to make longer term predictions based on longer term averages, rather than bail at the earliest chance solely because of a recent hot streak.

Maybe the streak holds.  I hope it does, but I'm not willing to add risk to my retirement matrix by counting on it.

I agree about the sub-standard future returns but we also have to keep in mind the 4% rule prevailed even in those environments.

Also, in my particular situation, I've hit my bare-bones FI number last year and am just OMYing it because I'm a chicken shit that gets paid a lot.

brooklynguy

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Re: 2018 FIRE cohort
« Reply #254 on: March 01, 2017, 06:00:26 PM »
I think a lot of us are eyeing the current market run-up and fantasizing about moving our dates up, but we've already discussed the hazards of that approach. 

Most aspiring retirees on this forum have set their target dollar figure using a projected-retirement-expense-multiple so extremely conservative that, in order for the retirement plan to fail (assuming actual expenses stay within the projected limit, which itself likewise tends to be conservatively estimated), the future would have to be worse than nearly every period in modern recorded history, plus every failsafe built into the retirement plan's package of external safety margin that otherwise would have saved it would have to fail as well.  So, when the time comes, to disarm the dollar-based retirement trigger out of concern about the market conditions then in existence is not to add undue risk to the plan but is instead to pile on to its already-adequate layers of safety margin and, in all likelihood, needlessly delay retirement.

That said, I'm right there with you.

Monkey Uncle

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Re: 2018 FIRE cohort
« Reply #255 on: March 02, 2017, 04:38:55 AM »
9 more months till this class starts graduating.

How is everyone feeling? Going to meet your graduation date?

As for me, June 2018 is definitely the date, could be earlier if I lose my job (consultant).

As noted upthread, I'm not feeling too good about my 12/31/17 date due to healthcare uncertainty.  Loss of the ACA is likely to blow up my spending projections.
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MandyM

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Re: 2018 FIRE cohort
« Reply #256 on: March 02, 2017, 07:13:36 AM »
I'm feeling pretty good. Still might pull the plug this year and ditch all you 2018ers! :)

I think a lot of us are eyeing the current market run-up and fantasizing about moving our dates up, but we've already discussed the hazards of that approach. 

People who retire based only on today's dollar figure are more likely to retire at a market peak, and suffer lower than average returns after that.  Better to make longer term predictions based on longer term averages, rather than bail at the earliest chance solely because of a recent hot streak.

Maybe the streak holds.  I hope it does, but I'm not willing to add risk to my retirement matrix by counting on it.

I'm seriously considering moving my date up, but not (completely) due to the current market. I'm just burned out and I've never been opposed to the idea of getting another job down the road to fill in gaps. I'm hoping to hang on until sept of this year for various reasons, but we shall see.
"Freedom lies in being bold." -Robert Frost

CowboyAndIndian

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Re: 2018 FIRE cohort
« Reply #257 on: March 02, 2017, 07:56:27 AM »
Looks like this cohort is ready to graduate.

I think a lot of us are eyeing the current market run-up and fantasizing about moving our dates up, but we've already discussed the hazards of that approach. 

People who retire based only on today's dollar figure are more likely to retire at a market peak, and suffer lower than average returns after that.  Better to make longer term predictions based on longer term averages, rather than bail at the earliest chance solely because of a recent hot streak.

Maybe the streak holds.  I hope it does, but I'm not willing to add risk to my retirement matrix by counting on it.
Sol, as usual, you nail it.

As noted upthread, I'm not feeling too good about my 12/31/17 date due to healthcare uncertainty.  Loss of the ACA is likely to blow up my spending projections.
Good point Money Uncle. This probably will be the biggest unknown in my plans and probably for all of you also.


brooklynguy

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Re: 2018 FIRE cohort
« Reply #258 on: March 02, 2017, 09:10:30 AM »
As noted upthread, I'm not feeling too good about my 12/31/17 date due to healthcare uncertainty.  Loss of the ACA is likely to blow up my spending projections.
Good point Money Uncle. This probably will be the biggest unknown in my plans and probably for all of you also.

Yes, this is currently my single biggest concern as well, but I'm choosing to take the glass half full perspective:  instead of viewing the current state of affairs as healthcare uncertainty putting my plans into jeopardy, I'm focusing on the fact that I'm otherwise more or less a year away from being financially independent.  It's pretty easy to channel that contingent status itself into service as a big fucking optimism bazooka.

Patches

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Re: 2018 FIRE cohort
« Reply #259 on: March 02, 2017, 12:05:33 PM »
Hey everyone, I'm with you guys here for 2018.  I just arbitrarily picked Halloween... It'll be 5 years to the day since I bought my business.  Plus it's fun to say that I'm "turning into a pumpkin" on that day.   

CowboyAndIndian

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Re: 2018 FIRE cohort
« Reply #260 on: March 02, 2017, 12:57:10 PM »
Added patches


 01/18  FIBy30
 01/18  PrePube
 01/18  Retire-Canada
 01/18  WannaGoOutside
 01/18  Zinethstache
 01/18  MomCPA
 01/18  OzBeach
~02/18  PizzaSteve
~03/18  CherryLane
 03/18  Sofa King
 03/18  sol
 03/18  dividendman
~03/18  Gimesalot
 03/18  Badblackgirl
~03/18  Caoineag
 04/18  Calvin
 04/18  FernFree
 04/18  Gooki
~04/18  HappyMargo
 04/18  MandyM
~04/18  Mother Fussbudget
 04/18  NinetyFour
 04/18  ZiziPB
 05/18  SwordGuy
 05/18  SwordGuy DW
 06/18  Cheddar Stacker
 06/18  Albireo13
 06/18  DavisGang90
~06/18  Pylortes
 06/18  CowboyAndIndian
 06/18  Omalley
 06/18  aperture
 06/18  randomgiraffe
 06/18  dbtx
 07/18  AussieGirl
~07/18  BackAndForth
 07/18  ChasesFish
~07/18  Freshwater
 08/18  SpreadsheetMan DW
 10/18  Aperture
 10/18  Happy
 10/18  Irishtache
 10/18  patches
 11/18  DeSteeg
 11/18  Kris
 ??/18  brooklynguy
 12/18  yoda34
 ??/18  Minnesota_mom


CowboyAndIndian

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Re: 2018 FIRE cohort
« Reply #261 on: March 02, 2017, 12:58:22 PM »
Interesting how the majority of folks are FIRE'ing in the first half of the year.

dividendman

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Re: 2018 FIRE cohort
« Reply #262 on: March 02, 2017, 01:05:27 PM »
Interesting how the majority of folks are FIRE'ing in the first half of the year.

Yeah, I made the comment earlier that if you work a partial year (especially < half) and make a lot of money you're likely to fill your 401k and also get better tax brackets for your cash.

That's why after I pass around august of this year it's going to be hard justifying not going to march of next year for those bonuses.

Clean Shaven

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Re: 2018 FIRE cohort
« Reply #263 on: March 02, 2017, 02:28:01 PM »
I'm leaving the 2022 group, and joining the 2018 group.  Fed up with work, savings have been going well, so ready to pull the plug sooner than later.  Have some major projects to be wrapped up around mid-2017, and since bonus + profit sharing gets paid out in January of each year, I'll stick around until that comes through.  Also have a long vacation planned for fall 2017, so might as well take a trip and get paid for it!

I think I'm on track for sometime around March 2018.  Biggest concern right now is sorting out health care until Medicare eligibility -- I'll be 45, wife is a couple years older.  Our plan is to take some time off, then work when we feel like it and/or if we want to -- scaling back to very part time basis. 

Gimesalot

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Re: 2018 FIRE cohort
« Reply #264 on: March 02, 2017, 02:56:53 PM »
I am really feeling unready mostly because the plan is to FIRE and leave the US pretty quickly.  For that to happen, we need to finish fixing our house (adding 2 kitchens and about a dozen other small projects), sell all of our crap, and then hire a property manager and get our apartments rented out. 

I am sweating bullets that it won't all get done!

The financial aspect is less of a worry as I have set us up to have a slightly less than 4% SWR on a VERY padded budget, plus any rental income (estimated $6k-$10k per year) on top of that.  FYI, I didn't plan on having so much extra but I need to keep working to have health insurance while I got the house fixed up. 

CowboyAndIndian

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Re: 2018 FIRE cohort
« Reply #265 on: March 03, 2017, 07:05:06 AM »
Welcome Clean Shaven


 01/18  FIBy30
 01/18  PrePube
 01/18  Retire-Canada
 01/18  WannaGoOutside
 01/18  Zinethstache
 01/18  MomCPA
 01/18  OzBeach
~02/18  PizzaSteve
~03/18  CherryLane
 03/18  Sofa King
 03/18  sol
 03/18  dividendman
~03/18  Gimesalot
 03/18  Badblackgirl
~03/18  Caoineag
 03/18  Clean Shaven
 04/18  Calvin
 04/18  FernFree
 04/18  Gooki
~04/18  HappyMargo
 04/18  MandyM
~04/18  Mother Fussbudget
 04/18  NinetyFour
 04/18  ZiziPB
 05/18  SwordGuy
 05/18  SwordGuy DW
 06/18  Cheddar Stacker
 06/18  Albireo13
 06/18  DavisGang90
~06/18  Pylortes
 06/18  CowboyAndIndian
 06/18  Omalley
 06/18  aperture
 06/18  randomgiraffe
 06/18  dbtx
 07/18  AussieGirl
~07/18  BackAndForth
 07/18  ChasesFish
~07/18  Freshwater
 08/18  SpreadsheetMan DW
 10/18  Aperture
 10/18  Happy
 10/18  Irishtache
 10/18  patches
 11/18  DeSteeg
 11/18  Kris
 ??/18  brooklynguy
 12/18  yoda34
 ??/18  Minnesota_mom


CowboyAndIndian

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Re: 2018 FIRE cohort
« Reply #266 on: March 03, 2017, 07:07:59 AM »
Interesting how the majority of folks are FIRE'ing in the first half of the year.

Yeah, I made the comment earlier that if you work a partial year (especially < half) and make a lot of money you're likely to fill your 401k and also get better tax brackets for your cash.

That's why after I pass around august of this year it's going to be hard justifying not going to march of next year for those bonuses.

In my case, I have all my ducks in a row and waiting for DS2 to graduate from HS, so I can move out of this HCOL area.

School ends and I am out of here!

Cheddar Stacker

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Re: 2018 FIRE cohort
« Reply #267 on: March 05, 2017, 11:46:55 AM »
I turn 40 in the summer of 2018. Stretch goal is to retire before I turn 40...If I can manage to reign in expenses over the next three years it would be easy to reach this goal. As it stands now, it's a longshot.....so I'm setting the goal post at 6/1/18... I likely wouldn't be officially FI yet by then, but I plan to retire first, then get rich.

Even more of a longshot now. My withdrawl rate would have to be somewhere in the 10-12% range to cover expenses, which have gone up, not down. If I make a leap in 2018, it would only be a switch to part-time, or to an easier job. I plan to have a WR well above 4%, but not 3 times above it. I need to reduce the risk a bit more first. Am I the first to flunk out of this class?
Indecision may or may not be my problem.

Retire-Canada

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Re: 2018 FIRE cohort
« Reply #268 on: March 05, 2017, 11:50:56 AM »
I need to reduce the risk a bit more first. Am I the first to flunk out of this class?

I'm downshifting in 2018. I won't be able to stop working entirely, but I can stop working FT and not worry about saving/investing. My stash is big enough to hit FIRE for on its own now in a reasonable timeframe. That's been my plan all along so I'm not counting it as a failure. :)

What happened to increase your COL?

Cheddar Stacker

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Re: 2018 FIRE cohort
« Reply #269 on: March 05, 2017, 01:29:25 PM »
New things. Job with added stress/time, House with major renovation, Replaced 2 twelve year old cars. I've always been balancing a less than mustachian family with my own minimalist desires. Constant ebb and flow.

I won't be able to stop working entirely, but I can stop working FT and not worry about saving/investing. My stash is big enough to hit FIRE for on its own now in a reasonable timeframe.


I shifted to this mindset within the last year as well. I need to get out of the waiting place, and start living a more part time FIRE life prior to the FI part.
Indecision may or may not be my problem.

Fresh Bread

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Re: 2018 FIRE cohort
« Reply #270 on: March 05, 2017, 07:33:44 PM »
New things. Job with added stress/time, House with major renovation, Replaced 2 twelve year old cars. I've always been balancing a less than mustachian family with my own minimalist desires. Constant ebb and flow.

I often wonder what people with extremely low budgets have planned for car replacement and things like new kitchens and appliances. Maybe they don't drive and rent... For me, I've included AU$2k a year for car replacement every ten years or more and $2k a year for a major refurb at one point, as well as something for normal repairs & replacement. I guess I could just set aside a lump sum of the stache too. 

Monkey Uncle

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Re: 2018 FIRE cohort
« Reply #271 on: March 06, 2017, 04:21:20 AM »
New things. Job with added stress/time, House with major renovation, Replaced 2 twelve year old cars. I've always been balancing a less than mustachian family with my own minimalist desires. Constant ebb and flow.

I often wonder what people with extremely low budgets have planned for car replacement and things like new kitchens and appliances. Maybe they don't drive and rent... For me, I've included AU$2k a year for car replacement every ten years or more and $2k a year for a major refurb at one point, as well as something for normal repairs & replacement. I guess I could just set aside a lump sum of the stache too.

I'm planning for a $5k/yr spending buffer.  I figure in most years we won't use it all, which should make up for the occasional years when we overshoot the buffer due to replacing a vehicle or incurring a major health expense.  For things like appliances that are generally a couple grand or less, I try to accommodate those within the base budget.
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Retire-Canada

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Re: 2018 FIRE cohort
« Reply #272 on: March 06, 2017, 07:09:14 AM »
Nobody needs a kitchen reno so that's an easy one not to worry about. Our 1980's appliances are going strong, spare parts and service are still available and similar units are available on CL for cheap as people do renos and want to be rid of the old stuff. I don't have a specific budget item for renos or appliance replacement in my FIRE budget.

I don't specifically budget for a replacement vehicle either. It's not something I absolutely need as I live in a walkable neighbourhood and can bike the city fine. So if my vehicle were suddenly toast I don't have to do anything immediately.

If you are doing something 4%-Rule-esque for FIRE most start years will result in your stash growing larger despite your withdrawals so you could take out some extra money for these ^^ types of items.

My own FIRE budget does have a significant portion of luxuries like travel and sports gear. If I needed to I would simply stop spending on this category and redirect towards a vehicle if necessary.

If I didn't want to cut back on my luxury spending I could get a PT job to earn enough for a replacement vehicle. Unless I make a bad choice I shouldn't be doing this frequently.

dividendman

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Re: 2018 FIRE cohort
« Reply #273 on: March 06, 2017, 09:04:22 AM »
New things. Job with added stress/time, House with major renovation, Replaced 2 twelve year old cars. I've always been balancing a less than mustachian family with my own minimalist desires. Constant ebb and flow.

I often wonder what people with extremely low budgets have planned for car replacement and things like new kitchens and appliances. Maybe they don't drive and rent... For me, I've included AU$2k a year for car replacement every ten years or more and $2k a year for a major refurb at one point, as well as something for normal repairs & replacement. I guess I could just set aside a lump sum of the stache too.

Yeah, there are a lot of big ticket items that could come up. I was going to go the route of Retire-Canada and just buffer in a flat amount (like 5k) per year but I liked breaking it down into monthly items that won't normally be spent but will come up.

So, I have things like:
$200/mo car maintenance/new car (don't own a car but might)
$100/mo clothes/misc
$300/mo house repair/moving expenses (don't own a house but might)

That's on top of the regular spend that I know is going to happen like food/internet/rent etc.

Most of the time this budget shouldn't be spent but once every few years it might be a big ticket, so it's just accounting for that.

Fresh Bread

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Re: 2018 FIRE cohort
« Reply #274 on: March 06, 2017, 05:11:57 PM »
Nobody needs a kitchen reno so that's an easy one not to worry about. Our 1980's appliances are going strong, spare parts and service are still available and similar units are available on CL for cheap as people do renos and want to be rid of the old stuff. I don't have a specific budget item for renos or appliance replacement in my FIRE budget.

I don't specifically budget for a replacement vehicle either. It's not something I absolutely need as I live in a walkable neighbourhood and can bike the city fine. So if my vehicle were suddenly toast I don't have to do anything immediately.

If you are doing something 4%-Rule-esque for FIRE most start years will result in your stash growing larger despite your withdrawals so you could take out some extra money for these ^^ types of items.

My own FIRE budget does have a significant portion of luxuries like travel and sports gear. If I needed to I would simply stop spending on this category and redirect towards a vehicle if necessary.

If I didn't want to cut back on my luxury spending I could get a PT job to earn enough for a replacement vehicle. Unless I make a bad choice I shouldn't be doing this frequently.

Thanks for the explanation.

Our kitchen might be a want not a need but I think we'll still be replacing it as it's cheapo chipboard from the DIY store and looked shoddy when we moved in 4 years ago! I imagine it's 10+ years old and can't see it lasting more than another 5 years. It's not legal here to do anymore than change a tap washer and a lightbulb yourself so it's a very expensive undertaking and will be put off as long as poss...

With repairs I still feel we're in the tool accumulation phase, it's been expensive up til now. That category should come down a bit but then when we're old we're going to want to outsource more physical work so it's swings and roundabouts. Maybe we'll move out by then into a low maintenance place.

Up until about a week ago (!) we were intending living on property income only, so there was no significant lump sum to dip into, it had to be saved, hence the budget. (That's sounds a bit risky so I should point out we also had $100k offset against a mortgage for emergency money and we are in AU so no healthcare blowout worries). Now were are moving to a 50/50 allocation so I can model an alternative.

CowboyAndIndian

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Re: 2018 FIRE cohort
« Reply #275 on: March 06, 2017, 05:30:36 PM »

Our kitchen might be a want not a need but I think we'll still be replacing it as it's cheapo chipboard from the DIY store and looked shoddy when we moved in 4 years ago! I imagine it's 10+ years old and can't see it lasting more than another 5 years. It's not legal here to do anymore than change a tap washer and a lightbulb yourself so it's a very expensive undertaking and will be put off as long as poss...


Wow! Cannot believe that the state is so controlling!

I can understand if there are standards for Electric and gas as these could be dangerous. But not in hanging a cabinet. It is something that a first timer can see a couple of u-tube videos and do it well. I just hung my first cabinets in the laundry about 6 months ago and it looks great.


Fresh Bread

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Re: 2018 FIRE cohort
« Reply #276 on: March 06, 2017, 09:13:40 PM »

Our kitchen might be a want not a need but I think we'll still be replacing it as it's cheapo chipboard from the DIY store and looked shoddy when we moved in 4 years ago! I imagine it's 10+ years old and can't see it lasting more than another 5 years. It's not legal here to do anymore than change a tap washer and a lightbulb yourself so it's a very expensive undertaking and will be put off as long as poss...


Wow! Cannot believe that the state is so controlling!

I can understand if there are standards for Electric and gas as these could be dangerous. But not in hanging a cabinet. It is something that a first timer can see a couple of u-tube videos and do it well. I just hung my first cabinets in the laundry about 6 months ago and it looks great.

Sorry, no! We can hang cabinets! You could get away with replacing a tap with no-one knowing but I think if you redid the plumbing to rearrange things you'd be in the poo, or if you ran any wiring. And tradies cost $80-$100 an hour where I am so it adds up. We are redoing some ancient pipework in our bathroom but more or less leaving everything in the same location and it is costing $5k in plumbing, the electrician will be about $1.5k just to install a fan and move a plug and light switch. We've got a lot of bits on our version of Craigslist so we've kept costs down and we'll do the tiling, painting and hanging cabinets etc. If we do anything else it will be when interest rates have gone up and the building boom is over and trades are less in demand. Maybe.

I have no idea how the authorities would find out or what happens if they do - maybe you get a fine. You can buy stuff to do these things at the DIY store, so people just do the small stuff anyway, I guess, we have done bits and pieces not realising. With the major stuff where it has to be signed off by a building inspector then I guess licenses are checked?

SwordGuy

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Re: 2018 FIRE cohort
« Reply #277 on: March 06, 2017, 09:48:11 PM »
Also, in my particular situation, I've hit my bare-bones FI number last year and am just OMYing it because I'm a chicken shit that gets paid a lot.

Pretty much in the same boat, except we hit our minimum FI # next month, so that's when our OMY clock starts ticking.

Good news is that I see zero reason to delay past that.

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Re: 2018 FIRE cohort
« Reply #278 on: March 07, 2017, 04:19:13 AM »
I was toying with OLY and moving my date to 2017 but decided to stick to my original plan.  The numbers are looking good even though I don't quite trust the recent market run up.  Also, DD is graduating in June and will be looking for a job after returning from 6 years of studying abroad, so I want to be around and help her out by providing a home base while she's looking.  Thus the plan is still to give notice on March 16, 2018 and quit for good on April 1, 2018 :-)



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Re: 2018 FIRE cohort
« Reply #279 on: March 07, 2017, 05:12:11 AM »
Both of us will be retired in 2018.  We're close to our number now with 2 more years to support one more child through college.

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Re: 2018 FIRE cohort
« Reply #280 on: March 19, 2017, 08:19:30 AM »
Added Michread.


 01/18  FIBy30
 01/18  PrePube
 01/18  Retire-Canada
 01/18  WannaGoOutside
 01/18  Zinethstache
 01/18  MomCPA
 01/18  OzBeach
~02/18  PizzaSteve
~03/18  CherryLane
 03/18  Sofa King
 03/18  sol
 03/18  dividendman
~03/18  Gimesalot
 03/18  Badblackgirl
~03/18  Caoineag
 03/18  Clean Shaven
 04/18  Calvin
 04/18  FernFree
 04/18  Gooki
~04/18  HappyMargo
 04/18  MandyM
~04/18  Mother Fussbudget
 04/18  NinetyFour
 04/18  ZiziPB
 05/18  SwordGuy
 05/18  SwordGuy DW
 06/18  Cheddar Stacker
 06/18  Albireo13
 06/18  DavisGang90
~06/18  Pylortes
 06/18  CowboyAndIndian
 06/18  Omalley
 06/18  aperture
 06/18  randomgiraffe
 06/18  dbtx
 07/18  AussieGirl
~07/18  BackAndForth
 07/18  ChasesFish
~07/18  Freshwater
 08/18  SpreadsheetMan DW
 10/18  Aperture
 10/18  Happy
 10/18  Irishtache
 10/18  patches
 11/18  DeSteeg
 11/18  Kris
 ??/18  brooklynguy
 12/18  yoda34
 ??/18  Minnesota_mom
 ??/18  Michread


CowboyAndIndian

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Re: 2018 FIRE cohort
« Reply #281 on: March 19, 2017, 08:23:37 AM »
TL;DR Looks like I may be OLY'ing.

I am consultant and my contract had been renewed till March end 2017. There is a limit of 18 months on a contract and my 18 months ended in  March. My boss and his boss got me extended by another six months. So, looks like my contract is now ending September end 2017. No idea what will happen in September.

I do not want to search for a new job, so if this contract ends in Sept, I will FIRE.

Still keeping my name on the list, will update later.

aperture

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Re: 2018 FIRE cohort
« Reply #282 on: March 19, 2017, 08:34:23 AM »
TL;DR Looks like I may be OLY'ing.

Congratulations C&I! How does it feel to be suddenly looking at September 2017 vs. September 2018? 

Reason I ask is that y FIRE date is end of June 2018, and I am recently noticing just how FAR that date still feels.  When I look forward to this time next year, I hope that I will start seeing light at the end of the tunnel.  Have you similarly struggled/experienced a change? 

BTW, I admire the work you did on the Financial Planning Template.  Thanks for sharing that.

Best wishes, Ap.
Able was I, ere I saw Elba.

chasesfish

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Re: 2018 FIRE cohort
« Reply #283 on: March 27, 2017, 05:33:10 AM »
Does anyone else this close to RE worry that you're about to give your employer?

I can earn/save another $133,000 between now and 6/18 and $262,000 in total between now and 3/19.   This moves all the calculators above 95% and gives me complete freedom geographically (Hawaii is a little more expensive if I move there).

But...what is the market runs another 7-8 years?  What if I end up with a hobby "job" that earns 12k/year?  I just gave my employer two more years of my best mental/physical health in my 30s.

Do any of the other 2018 coherts think this?   I'm fortunate I generally like my job.
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CowboyAndIndian

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Re: 2018 FIRE cohort
« Reply #284 on: March 27, 2017, 07:13:28 AM »
TL;DR Looks like I may be OLY'ing.

Congratulations C&I! How does it feel to be suddenly looking at September 2017 vs. September 2018? 

Reason I ask is that y FIRE date is end of June 2018, and I am recently noticing just how FAR that date still feels.  When I look forward to this time next year, I hope that I will start seeing light at the end of the tunnel.  Have you similarly struggled/experienced a change? 

BTW, I admire the work you did on the Financial Planning Template.  Thanks for sharing that.

Best wishes, Ap.

Thanks Ap, It's surprisingly scaring. June 2018 was 15 months away and in the future. But six months is scary. All the questions are popping up!! It is also exciting.

Now my employers are considering converting me to an employee before the 6 month extension runs out. There is some part of me that wishes that it falls thru ;-)

Thank you for the kinds words on  the financial template.

Retire-Canada

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Re: 2018 FIRE cohort
« Reply #285 on: March 27, 2017, 08:00:32 AM »
Do any of the other 2018 coherts think this?   I'm fortunate I generally like my job.

I think that all the time. That's why I am downshifting to PT now so I can enjoy a bunch more time off while I have my health. My 'stach is big enough to cross the finish line on its own.

brooklynguy

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Re: 2018 FIRE cohort
« Reply #286 on: March 27, 2017, 10:13:02 AM »
As noted upthread, I'm not feeling too good about my 12/31/17 date due to healthcare uncertainty.  Loss of the ACA is likely to blow up my spending projections.
Good point Money Uncle. This probably will be the biggest unknown in my plans and probably for all of you also.

The latest turn of events in the healthcare legislation saga should provide a nice shot in the arm for our cohort's confidence level.  The GOP appears to have taken healthcare reform completely off the legislative agenda, so the ACA should remain with us for, in Paul Ryan's words, "the foreseeable future."  That won't necessarily stop Republican efforts to undermine it, but the design of the premium tax credit structure should shield anyone who falls below the maximum income threshold from the worst of those potential consequences, even under the most aggressive campaign of active sabotage imaginable.

Monkey Uncle

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Re: 2018 FIRE cohort
« Reply #287 on: March 27, 2017, 04:22:05 PM »
As noted upthread, I'm not feeling too good about my 12/31/17 date due to healthcare uncertainty.  Loss of the ACA is likely to blow up my spending projections.
Good point Money Uncle. This probably will be the biggest unknown in my plans and probably for all of you also.

The latest turn of events in the healthcare legislation saga should provide a nice shot in the arm for our cohort's confidence level.  The GOP appears to have taken healthcare reform completely off the legislative agenda, so the ACA should remain with us for, in Paul Ryan's words, "the foreseeable future."  That won't necessarily stop Republican efforts to undermine it, but the design of the premium tax credit structure should shield anyone who falls below the maximum income threshold from the worst of those potential consequences, even under the most aggressive campaign of active sabotage imaginable.

Yes, I'm eagerly awaiting the upcoming insurance company announcements about ACA exchange participation for 2018.  Hopefully that will give a good indication of where things are headed for the next year or two, at least.
"Take this job and shove it" - David Allan Coe

Monkey Uncle

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Re: 2018 FIRE cohort
« Reply #288 on: March 27, 2017, 04:23:53 PM »
Does anyone else this close to RE worry that you're about to give your employer?

I can earn/save another $133,000 between now and 6/18 and $262,000 in total between now and 3/19.   This moves all the calculators above 95% and gives me complete freedom geographically (Hawaii is a little more expensive if I move there).

But...what is the market runs another 7-8 years?  What if I end up with a hobby "job" that earns 12k/year?  I just gave my employer two more years of my best mental/physical health in my 30s.

Do any of the other 2018 coherts think this?   I'm fortunate I generally like my job.

Naah, I'm in my late 40s, so my best years are long gone anyway. ;)
"Take this job and shove it" - David Allan Coe

Livingthedream55

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Re: 2018 FIRE cohort
« Reply #289 on: March 28, 2017, 07:45:16 AM »
New things. Job with added stress/time, House with major renovation, Replaced 2 twelve year old cars. I've always been balancing a less than mustachian family with my own minimalist desires. Constant ebb and flow.

I often wonder what people with extremely low budgets have planned for car replacement and things like new kitchens and appliances. Maybe they don't drive and rent... For me, I've included AU$2k a year for car replacement every ten years or more and $2k a year for a major refurb at one point, as well as something for normal repairs & replacement. I guess I could just set aside a lump sum of the stache too.

I'm planning for a $5k/yr spending buffer.  I figure in most years we won't use it all, which should make up for the occasional years when we overshoot the buffer due to replacing a vehicle or incurring a major health expense.  For things like appliances that are generally a couple grand or less, I try to accommodate those within the base budget.

This.

Right now I plan to FIRE in 2019 (but could move up to 2018 possibly) - anyway - I plan to FIRE with a $30,000 buffer for major expenditures (new roof, replace car) and add about $5,000 annually out of my retirement income just to feel completely safe.



brooklynguy

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Re: 2018 FIRE cohort
« Reply #290 on: March 28, 2017, 12:56:49 PM »
The GOP appears to have taken healthcare reform completely off the legislative agenda, so the ACA should remain with us for, in Paul Ryan's words, "the foreseeable future."

Spoke to soon, perhaps.

NY Times: "Affordable Care Act Repeal Is Back on the Agenda, Republicans Say"

dividendman

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Re: 2018 FIRE cohort
« Reply #291 on: March 28, 2017, 03:01:47 PM »
The GOP appears to have taken healthcare reform completely off the legislative agenda, so the ACA should remain with us for, in Paul Ryan's words, "the foreseeable future."

Spoke to soon, perhaps.

NY Times: "Affordable Care Act Repeal Is Back on the Agenda, Republicans Say"

I think we can safely say what the Republicans say and what they do is just like stocks and bonds: not correlated. (except in the case of extreme disaster)

aperture

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Re: 2018 FIRE cohort
« Reply #292 on: March 29, 2017, 11:45:35 AM »
Naah, I'm in my late 40s, so my best years are long gone anyway. ;)

+1 LOL - if I start looking at it this way, I have to think I am giving my employer 1/10 to 1/30 of my lifetime for OMY. Depressing.
Able was I, ere I saw Elba.

JLTinVA

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Re: 2018 FIRE cohort
« Reply #293 on: March 30, 2017, 11:10:11 AM »
One year from today: 3/30/2018. I can't wait.

CowboyAndIndian

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Re: 2018 FIRE cohort
« Reply #294 on: March 30, 2017, 01:14:38 PM »
Added JLTinVA


 01/18  FIBy30
 01/18  PrePube
 01/18  Retire-Canada
 01/18  WannaGoOutside
 01/18  Zinethstache
 01/18  MomCPA
 01/18  OzBeach
~02/18  PizzaSteve
~03/18  CherryLane
 03/18  Sofa King
 03/18  sol
 03/18  dividendman
~03/18  Gimesalot
 03/18  Badblackgirl
~03/18  Caoineag
 03/18  Clean Shaven
 03/18  JLTinVA
 04/18  Calvin
 04/18  FernFree
 04/18  Gooki
~04/18  HappyMargo
 04/18  MandyM
~04/18  Mother Fussbudget
 04/18  NinetyFour
 04/18  ZiziPB
 05/18  SwordGuy
 05/18  SwordGuy DW
 06/18  Cheddar Stacker
 06/18  Albireo13
 06/18  DavisGang90
~06/18  Pylortes
 06/18  CowboyAndIndian
 06/18  Omalley
 06/18  aperture
 06/18  randomgiraffe
 06/18  dbtx
 07/18  AussieGirl
~07/18  BackAndForth
 07/18  ChasesFish
~07/18  Freshwater
 08/18  SpreadsheetMan DW
 10/18  Aperture
 10/18  Happy
 10/18  Irishtache
 10/18  patches
 11/18  DeSteeg
 11/18  Kris
 ??/18  brooklynguy
 12/18  yoda34
 ??/18  Minnesota_mom
 ??/18  Michread


yoda34

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Re: 2018 FIRE cohort
« Reply #295 on: April 01, 2017, 08:19:05 AM »
Quick update on our plans. As of now we are ~21 months out. It sounds like a long time, but our immediate FIRE goals require some longer term planning.

Starting in Jan 2019 we plan on buying a boat and spending a year doing the great loop and then ~ a year cruising the Bahamas and Caribbean. The planning has already begun! House is going on the market in 2 months and we're already starting to sell things. Goal is to rent the last 12+ months and have the majority of our stuff that won't go on the boat sold by the end of next year.

Also starting to buy the 2017/2018 guide books for the great loop and doing route planning. I know its still a ways off but too excited - had to share!

CowboyAndIndian

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Re: 2018 FIRE cohort
« Reply #296 on: April 01, 2017, 09:38:41 AM »
Quick update on our plans. As of now we are ~21 months out. It sounds like a long time, but our immediate FIRE goals require some longer term planning.

Starting in Jan 2019 we plan on buying a boat and spending a year doing the great loop and then ~ a year cruising the Bahamas and Caribbean. The planning has already begun! House is going on the market in 2 months and we're already starting to sell things. Goal is to rent the last 12+ months and have the majority of our stuff that won't go on the boat sold by the end of next year.

Also starting to buy the 2017/2018 guide books for the great loop and doing route planning. I know its still a ways off but too excited - had to share!

Awesome plans.

Don't forget to post updates with lots of pictures in this forum when you do the great loop and caribbean cruises.

aperture

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Re: 2018 FIRE cohort
« Reply #297 on: April 02, 2017, 08:05:11 AM »
Quick update on our plans. As of now we are ~21 months out. It sounds like a long time, but our immediate FIRE goals require some longer term planning.

Starting in Jan 2019 we plan on buying a boat and spending a year doing the great loop and then ~ a year cruising the Bahamas and Caribbean. The planning has already begun! House is going on the market in 2 months and we're already starting to sell things. Goal is to rent the last 12+ months and have the majority of our stuff that won't go on the boat sold by the end of next year.

Also starting to buy the 2017/2018 guide books for the great loop and doing route planning. I know its still a ways off but too excited - had to share!

Wow - what an incredibly cool plan.  I never even heard of the great loop - had to google it.  Question: have you always been into boating, or has this been a passion that developed more recently?
Able was I, ere I saw Elba.

MandyM

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Re: 2018 FIRE cohort
« Reply #298 on: April 03, 2017, 06:30:47 AM »
Quick update on our plans. As of now we are ~21 months out. It sounds like a long time, but our immediate FIRE goals require some longer term planning.

Starting in Jan 2019 we plan on buying a boat and spending a year doing the great loop and then ~ a year cruising the Bahamas and Caribbean. The planning has already begun! House is going on the market in 2 months and we're already starting to sell things. Goal is to rent the last 12+ months and have the majority of our stuff that won't go on the boat sold by the end of next year.

Also starting to buy the 2017/2018 guide books for the great loop and doing route planning. I know its still a ways off but too excited - had to share!

Be warned: My aunt and uncle retired to their boat and planned to sail the Caribbean for 2 years...they finally returned last year after spending 6 years touring!
"Freedom lies in being bold." -Robert Frost

yoda34

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Re: 2018 FIRE cohort
« Reply #299 on: April 08, 2017, 12:31:55 PM »
@aperture - relatively new (say the last 5 years or so). Took an into sailing class in 2013 and loved it. Went on to get ASA certified through 106 and then the DW and I have done some charters since then and sail whenever we can get away (which is not nearly often enough).

@MandyM - :) that would be fantastic if it ends up that way! Doing it right on sailboat can be a pretty mustachian way to live.