Author Topic: 2019 fire cohort  (Read 188627 times)

SugarMountain

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Re: 2019 fire cohort
« Reply #1050 on: August 28, 2018, 08:53:08 AM »
Hello to those joining the cohort, as recently discussed we are the most awesome of the cohorts!

I really love hearing about people that really look at things and then cut years off the work plan.  That is soo heartening!

Thank you for sharing!

LV

Just checking out this cohort to see if it's cool enough for me to switch from the 2018 cohort. (Short version, told my boss I was leaving last week.  Boss' boss took me to a back room and gave me an offer I can't refuse that may lead to OMY. Lots of internal debating going on in my head so current status is day to day.  Then again, we're all day to day.)

Trifele

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Re: 2019 fire cohort
« Reply #1051 on: August 28, 2018, 09:23:05 AM »

Just checking out this cohort to see if it's cool enough for me to switch from the 2018 cohort. (Short version, told my boss I was leaving last week.  Boss' boss took me to a back room and gave me an offer I can't refuse that may lead to OMY. Lots of internal debating going on in my head so current status is day to day.  Then again, we're all day to day.)


Hi @SugarMountain  -- Sure, join the party if you like.  We welcome all OMY and OLY'ers.   The back room talk with the boss's boss and the "offer you can't refuse" sound vaguely sinister, but it sounds like it worked out well for you.  ;)

Let us know when you know for sure, and we'll get you added to the spreadsheet.

SugarMountain

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Re: 2019 fire cohort
« Reply #1052 on: August 28, 2018, 09:39:53 AM »

Just checking out this cohort to see if it's cool enough for me to switch from the 2018 cohort. (Short version, told my boss I was leaving last week.  Boss' boss took me to a back room and gave me an offer I can't refuse that may lead to OMY. Lots of internal debating going on in my head so current status is day to day.  Then again, we're all day to day.)


Hi @SugarMountain  -- Sure, join the party if you like.  We welcome all OMY and OLY'ers.   The back room talk with the boss's boss and the "offer you can't refuse" sound vaguely sinister, but it sounds like it worked out well for you.  ;)

Let us know when you know for sure, and we'll get you added to the spreadsheet.

Yeah, mostly joking about the sinisterness of it. Basically he's saying I shouldn't quit yet, he'll put me in a different role with none of the stress or responsibility of my current job, but the salary will continue.  The things I haven't figure out are why he is doing this and what I will be doing.  It was a weird conversation.  I'll be journaling as things develop.  I wouldn't add me yet, I think when I get to October I'll end up making a decision about whether this is worth another year or not.

itchyfeet

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Re: 2019 fire cohort
« Reply #1053 on: August 28, 2018, 12:03:48 PM »
Back to work after a great vacation, and I had my mid year performance review today (it was bad enough once a year, but now we have two!!!!).

My boss from HQ (overseas) asked if I was planning on leaving any time soon as he has a successor picked out. I said ďno. I am happy hereĒ.

Sorry but Mr/ Ms successor you will have to wait. Not for long, but nobody needs to know that yet.

I asked my boss if he wanted me to leave. Boss said ďNo. I am happy you are stayingĒ.

That was pretty much the extent of my review.

My next review is in Feb. it will be my last, and Once I know my annual bonus is secure Iíll be able to tell my boss to get kick his succession plan into gear.

Livingthedream55

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Re: 2019 fire cohort
« Reply #1054 on: August 28, 2018, 01:00:32 PM »
Back to work after a great vacation, and I had my mid year performance review today (it was bad enough once a year, but now we have two!!!!).

My boss from HQ (overseas) asked if I was planning on leaving any time soon as he has a successor picked out. I said ďno. I am happy hereĒ.

Sorry but Mr/ Ms successor you will have to wait. Not for long, but nobody needs to know that yet.

I asked my boss if he wanted me to leave. Boss said ďNo. I am happy you are stayingĒ.

That was pretty much the extent of my review.

My next review is in Feb. it will be my last, and Once I know my annual bonus is secure Iíll be able to tell my boss to get kick his succession plan into gear.

Nobody's business until you decide to announce. Things can get weird once you've announced your intentions. My thoughts right now is giving about two months notice so I'd tell my boss April 1 - ha ha!!

SugarMountain

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Re: 2019 fire cohort
« Reply #1055 on: August 28, 2018, 01:11:11 PM »
Back to work after a great vacation, and I had my mid year performance review today (it was bad enough once a year, but now we have two!!!!).

My boss from HQ (overseas) asked if I was planning on leaving any time soon as he has a successor picked out. I said ďno. I am happy hereĒ.

Sorry but Mr/ Ms successor you will have to wait. Not for long, but nobody needs to know that yet.

I asked my boss if he wanted me to leave. Boss said ďNo. I am happy you are stayingĒ.

That was pretty much the extent of my review.

My next review is in Feb. it will be my last, and Once I know my annual bonus is secure Iíll be able to tell my boss to get kick his succession plan into gear.

"If you want me to leave, what kind of severance are you providing?"

itchyfeet

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Re: 2019 fire cohort
« Reply #1056 on: August 28, 2018, 08:06:45 PM »
Back to work after a great vacation, and I had my mid year performance review today (it was bad enough once a year, but now we have two!!!!).

My boss from HQ (overseas) asked if I was planning on leaving any time soon as he has a successor picked out. I said ďno. I am happy hereĒ.

Sorry but Mr/ Ms successor you will have to wait. Not for long, but nobody needs to know that yet.

I asked my boss if he wanted me to leave. Boss said ďNo. I am happy you are stayingĒ.

That was pretty much the extent of my review.

My next review is in Feb. it will be my last, and Once I know my annual bonus is secure Iíll be able to tell my boss to get kick his succession plan into gear.

"If you want me to leave, what kind of severance are you providing?"

Haha. I work in the Middle East, the land of zero employee rights. A severance package is a pipe dream.

Anyways they donít want me to leave, itís just that there is seemingly a few bright up and comers with an eye on my job. Being the Middle East itís more common than not that people donít stay too many years here, so turnover is highish,  and itís a popular place for ambitious types to get some overseas experience on their CV.

DW is quite keen to leave here (not because she doesnít like living here, but because we are losing our ties/ friendships back home), but Iíd stay if she would accept and if we needed to build the stash more. Iíll be a bit sad to leave actually. But, will also be nice to return home I suppose.

chasesfish

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Re: 2019 fire cohort
« Reply #1057 on: August 29, 2018, 03:29:15 PM »
Whew, the last few days plus a nice 2.5% or so move on the market in August had me debating hanging out through March.

There's nothing like having leadership think the solution to selling an inferior product/process is to beat on the salespeople to "just call more"

gerardc

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Re: 2019 fire cohort
« Reply #1058 on: August 29, 2018, 07:45:23 PM »
Whew, the last few days plus a nice 2.5% or so move on the market in August had me debating hanging out through March.

Getting dangerously close to $1M with the last few days, might even make it before the new year. Not really counting on it though

itchyfeet

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Re: 2019 fire cohort
« Reply #1059 on: August 29, 2018, 08:20:41 PM »
With the ongoing great returns I am getting from stocks, I regret a little that I am still so heavily invested in residential property, which is dropping in value (in Syd year at least) as fast as I am Generating growth from my stock portfolio..... but I shouldnít forget that the 20 preceding years of high growth in my property values is a big part of why I will FIRE next year. I am concerned that the property values still have a ways to drop. It is probably time I stopped focussing in NW so much and started to focus more on the income being generated from my assets ie: Rent + dividends + interest.

DreamFIRE

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Re: 2019 fire cohort
« Reply #1060 on: August 29, 2018, 10:02:33 PM »

Stash is now at 27X (3.6% SWR) planned FIRE spending, 76X barebones (1.3% SWR).

Just over 9 months to FIRE.

I've used benefit time to take off about every Thurs. and Fri. through July and August.  I've felt like a part time worker these last two months, and I've liked it.  I'll be off 5 over this holiday weekend, then I'll be using only a couple benefit days on Fridays in Sept., then it's back to a long string of full work weeks in October and November until Thanksgiving.

Linda_Norway

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Re: 2019 fire cohort
« Reply #1061 on: August 30, 2018, 01:17:21 AM »
Even though I expect to FIRE in 2020, I'm still lurking here from time to time...

We still have that plan of putting our house for sale in the spring. If we manage to sell it for a high enough price, we might well be able to FIRE in 2019.

DH has mentioned that, before pulling the plug finally (selling the house/quitting jobs), we should do a proper check of my excel sheet with FIRE calculations. I couldn't agree more.
But I wonder, would it pay off to get help from an expert? It is all very Norwegian specific information, which I have gathered from the website of the tax office. How many hours would a tax expert use to check calculations in an excel sheet, in addition to understanding the whole concept of FIRE? I guess it would cost maybe 500 USD at least for such an analysis.
My alternative is hoping that DH is intelligent enough to judge the correctness of the spreadsheet. He is very intelligent, just not an economist or tax expert.
« Last Edit: August 30, 2018, 03:59:10 AM by Linda_Norway »

PhilB

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Re: 2019 fire cohort
« Reply #1062 on: August 30, 2018, 02:27:09 AM »

Stash is now at 27X (3.6% SWR) planned FIRE spending, 76X barebones (1.3% SWR).

Just over 9 months to FIRE.

I've used benefit time to take off about every Thurs. and Fri. through July and August.  I've felt like a part time worker these last two months, and I've liked it.  I'll be off 5 over this holiday weekend, then I'll be using only a couple benefit days on Fridays in Sept., then it's back to a long string of full work weeks in October and November until Thanksgiving.
I've been doing 4 day weeks through the school holidays too (when not actually going away) and it does indeed feel great.  I'm really not looking forward to my last slug of 5 day weeks but, as the saying goes, this too shall pass.

Loren Ver

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Re: 2019 fire cohort
« Reply #1063 on: August 30, 2018, 05:42:36 AM »
Even though I expect to FIRE in 2020, I'm still lurking here from time to time...

We still have that plan of putting our house for sale in the spring. If we manage to sell it for a high enough price, we might well be able to FIRE in 2019.

DH has mentioned that, before pulling the plug finally (selling the house/quitting jobs), we should do a proper check of my excel sheet with FIRE calculations. I couldn't agree more.
But I wonder, would it pay off to get help from an expert? It is all very Norwegian specific information, which I have gathered from the website of the tax office. How many hours would a tax expert use to check calculations in an excel sheet, in addition to understanding the whole concept of FIRE? I guess it would cost maybe 500 USD at least for such an analysis.
My alternative is hoping that DH is intelligent enough to judge the correctness of the spreadsheet. He is very intelligent, just not an economist or tax expert.

Linda,

If the tax structure is complex paying someone to go through the process with you to make sure you have it right isn't a bad idea.  Findings a person could be hard, but the piece of mind could be worth it.  Assuming there isn't someone on the site that hasn't ready done this for Norway :).


As for me, I talked to my boss a few days ago. I told him if there were going to be layoffs with severance packages I wanted to be considered.  I didn't tell him the big plans. I just assured him it wasn't the work or the group, just if someone needed to go, then I'd rather it be me than someone else.  If was via phone call since he is a country away.  That was a awkward talk, as I am in a small group that is rather specialized and generally considered safe from layoffs.

Later that day, the company announced there would be layoffs.  My sub-functions said a few people would be laid off, but they will cut other places to reduce the pressure. 

The usual package is 2 weeks for every year of service.  I hit 10 years in October. 

So, uh, good timing maybe?  Not sure if I will get an offer or not.  But I should know by the end of November....

I really liked giving myself some of the power.  If they keep me, I am good.  If they lay me off, I am good.  The position i am it, it is good.

Whew. 

LV

Trifele

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Re: 2019 fire cohort
« Reply #1064 on: August 30, 2018, 06:10:48 AM »

As for me, I talked to my boss a few days ago. I told him if there were going to be layoffs with severance packages I wanted to be considered.  I didn't tell him the big plans. I just assured him it wasn't the work or the group, just if someone needed to go, then I'd rather it be me than someone else.  If was via phone call since he is a country away.  That was a awkward talk, as I am in a small group that is rather specialized and generally considered safe from layoffs.

Later that day, the company announced there would be layoffs.  My sub-functions said a few people would be laid off, but they will cut other places to reduce the pressure. 

The usual package is 2 weeks for every year of service. 

So, uh, good timing maybe?  Not sure if I will get an offer or not.  But I should know by the end of November....

I really liked giving myself some of the power.  If they keep me, I am good.  If they lay me off, I am good.  The position i am it, it is good.

Whew. 

LV

Loren -- are we Doppelgaenger/s???  I am in _exactly_ this position -- I could have written your post word for word.  We're in the midst of a takeover by Megacorp and we know that some people will be let go, but so far it looks like my department is relatively safe.   I have been considering having this very conversation with my boss but have not yet done it.

I think the only thing holding me back from having the conversation is the thought that my boss might say "No, we need you."  And then I pull the plug anyway early next year.  I have mild moral qualms about that.  I think it would be obvious that I was going to leave all along and was just trying to milk out what I could . . . ?  And even though I will never go back to work there, I want to leave on good terms.

dude

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Re: 2019 fire cohort
« Reply #1065 on: August 30, 2018, 07:10:51 AM »
Was just running numbers again (again!), and of course, start re-thinking shit, as I am wont to do. Anyway, Planned retirement date is @May 7, 2019 (though likely actually May 31, with me not being around much at all those last three weeks). However, I looked at my pension numbers, and the short of it is, if I stuck around until Dec 31, it would mean an extra $2,568/year for the first 8 years of retirement, and $65,160 over the course of a 30-year retirement (not including of course the extra 7 months salary and 401k match). My gut tells me in ain't worth it because I'll never get that summer back and psychologically I've been so dead-set on May 2019 that it would be monumentally disappointing to not be saying "sayonara!" then, that I won't likely go through with it. And I could make that up with a 0.3% increase in my portfolio withdrawal. But I must confess that if the markets took a big dump sometime just before May 2019, then I might do it out of fear.

Loren Ver

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Re: 2019 fire cohort
« Reply #1066 on: August 30, 2018, 07:48:12 AM »

As for me, I talked to my boss a few days ago. ...snip...

Whew. 

LV

Loren -- are we Doppelgaenger/s???  I am in _exactly_ this position -- I could have written your post word for word.  We're in the midst of a takeover by Megacorp and we know that some people will be let go, but so far it looks like my department is relatively safe.   I have been considering having this very conversation with my boss but have not yet done it.

I think the only thing holding me back from having the conversation is the thought that my boss might say "No, we need you."  And then I pull the plug anyway early next year.  I have mild moral qualms about that.  I think it would be obvious that I was going to leave all along and was just trying to milk out what I could . . . ?  And even though I will never go back to work there, I want to leave on good terms.

Oh man.  I had the same thought before talking to my boss.  I have only been in this role since November, so it could end up being only a year.  I like to think I bring balance to the group (and have been told so from several of the stake holders).  Making it through the layoffs just to leave in May seems ... not quite right.  But I keep telling myself, it wasn't my decision to cut the department so thin that one person leaving a safe role causing issues.  I know after I am gone two months (if that) I wont even be remembered other than (hopefully) a few warm thoughts from my co-workers. 

Was just running numbers again (again!), and of course, start re-thinking shit, as I am wont to do. Anyway, Planned retirement date is @May 7, 2019 (though likely actually May 31, with me not being around much at all those last three weeks). However, I looked at my pension numbers, and the short of it is, if I stuck around until Dec 31, it would mean an extra $2,568/year for the first 8 years of retirement, and $65,160 over the course of a 30-year retirement (not including of course the extra 7 months salary and 401k match). My gut tells me in ain't worth it because I'll never get that summer back and psychologically I've been so dead-set on May 2019 that it would be monumentally disappointing to not be saying "sayonara!" then, that I won't likely go through with it. And I could make that up with a 0.3% increase in my portfolio withdrawal. But I must confess that if the markets took a big dump sometime just before May 2019, then I might do it out of fear.

dude - i think about this all the time.  One of the reasons I took the leap with my boss.  I do not want one more X (month, year), it would never stop.  DH and I will lean fire, and I have a job that is just starting to really pay off.  So a few extra months gets us quite a cushion, but I am tired of waiting and spending my time sitting at a desk when i could be doing ANYTHING ELSE.

Even if that anything else is eating rice and bean at home with my DH waiting for the markets to recover....

SpareChange

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Re: 2019 fire cohort
« Reply #1067 on: August 30, 2018, 10:18:41 AM »
Loren -- are we Doppelgaenger/s???  I am in _exactly_ this position -- I could have written your post word for word.  We're in the midst of a takeover by Megacorp and we know that some people will be let go, but so far it looks like my department is relatively safe.   I have been considering having this very conversation with my boss but have not yet done it.

Yikes. Have they given a time frame for these layoffs? Must be an unsettling process for most people.

SugarMountain

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Re: 2019 fire cohort
« Reply #1068 on: August 30, 2018, 10:22:00 AM »
Was just running numbers again (again!), and of course, start re-thinking shit, as I am wont to do. Anyway, Planned retirement date is @May 7, 2019 (though likely actually May 31, with me not being around much at all those last three weeks). However, I looked at my pension numbers, and the short of it is, if I stuck around until Dec 31, it would mean an extra $2,568/year for the first 8 years of retirement, and $65,160 over the course of a 30-year retirement (not including of course the extra 7 months salary and 401k match). My gut tells me in ain't worth it because I'll never get that summer back and psychologically I've been so dead-set on May 2019 that it would be monumentally disappointing to not be saying "sayonara!" then, that I won't likely go through with it. And I could make that up with a 0.3% increase in my portfolio withdrawal. But I must confess that if the markets took a big dump sometime just before May 2019, then I might do it out of fear.

It's hard.  I'm in the 2018 cohort for the moment and was originally planning to be done by the end of July, but am considering OMY.  It took me until last week when I finally got the gumption up to tell my boss I was leaving.  They are trying to get me to stay and I'm definitely going to be here until the end of October with an extended vacation in the middle there. OMY is worth about 5-10% of my stache.  That means 5-10% more money available every year for the rest of my life.  Really debating whether it's worth it. At some point you have enough.

PhilB

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Re: 2019 fire cohort
« Reply #1069 on: August 30, 2018, 10:44:53 AM »
Was just running numbers again (again!), and of course, start re-thinking shit, as I am wont to do. Anyway, Planned retirement date is @May 7, 2019 (though likely actually May 31, with me not being around much at all those last three weeks). However, I looked at my pension numbers, and the short of it is, if I stuck around until Dec 31, it would mean an extra $2,568/year for the first 8 years of retirement, and $65,160 over the course of a 30-year retirement (not including of course the extra 7 months salary and 401k match). My gut tells me in ain't worth it because I'll never get that summer back and psychologically I've been so dead-set on May 2019 that it would be monumentally disappointing to not be saying "sayonara!" then, that I won't likely go through with it. And I could make that up with a 0.3% increase in my portfolio withdrawal. But I must confess that if the markets took a big dump sometime just before May 2019, then I might do it out of fear.

It's hard.  I'm in the 2018 cohort for the moment and was originally planning to be done by the end of July, but am considering OMY.  It took me until last week when I finally got the gumption up to tell my boss I was leaving.  They are trying to get me to stay and I'm definitely going to be here until the end of October with an extended vacation in the middle there. OMY is worth about 5-10% of my stache.  That means 5-10% more money available every year for the rest of my life.  Really debating whether it's worth it. At some point you have enough.
That's exactly the range where I found it sticky to work out too.  10% for a year was an easy decision to stay.  5% would be an easy decision to quit.  In between?
One of the thought processes that helped me decide was like this:

  • Another day of work would net me $x
  • My current fire budget gives me $y per day disposable income
  • A chill-out day at home, including cooking a nice dinner would cost me only $z meaning I would save (y-z) compared with my fire budgetI
  • If I need an extra $x would I rather earn it by working a day or having x/(y-z) days chilling out and relaxing?


Lews Therin

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Re: 2019 fire cohort
« Reply #1070 on: August 30, 2018, 10:49:37 AM »
I'd get at least 15% were I to do OMY... But I'm happy with the number I picked. I'd rather take the free time, and find myself a tiny part-time job if I wanted more play money, much better than remaining at a full-time one.

Every time I have a bunch of planned activities and then have to return to work, it's another push towards FIRE and being able to do much more, and still have the same amount of time off.

Dreamer

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Re: 2019 fire cohort
« Reply #1071 on: August 30, 2018, 12:54:46 PM »
I've been apprehensive about setting a firm date for a while now, but the markets have been good to me this week so I'm feeling more confident.  Please add me to the list for October 2019!  Exact date to be confirmed as I get closer :)

DreamFIRE

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Re: 2019 fire cohort
« Reply #1072 on: August 30, 2018, 02:04:15 PM »

Regarding the OMY comments, I sometimes calculate this based on what it does for my discretionary spending after taxes.  As long as I manage my MAGI for ACA for 15 years, my barebones expenses shouldn't change except taxes longer term, so the extra stash would just be for the extra spending, having fun, traveling, eating out, etc.  So, as a single person, OMY would basically allow me to spend about $3000/yr more on discretionary spending.  That's only $250/mo, or about 10% more than the $30,000/yr that I already have planned for discretionary spending.  In my view, 10% increased entertainment/travel spending does not equal 10% more enjoyment or happiness.  In fact, I think the extra 10% would be so little as to be insignificant in how much I enjoy FIRE.  I can't justify one more full year of my life chained to my desk full time just for a 10% increase in my entertainment and travel budget going forward.

If you're in your 30's, OMY should be easier to deal with, but at 50, it gets more difficult to give up each year to a full time job.  Also, if you're cutting is closer to your basic expenses with a low discretionary budget, $3000 might do a lot more for you.  In my case, I feel $30K/yr for discretionary spending as a single person is plenty.

Of course, OMY can also provide more of a cushion in your stash if the market drops, but with my $30K discretionary and 60/40 AA, I shouldn't feel a need to OMY it unless things get really bad, or something happens with ACA to screw up my healthcare budget in a big way.  I still might stay on part time OMY, but that's a lot different to me than working full time.

SugarMountain

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Re: 2019 fire cohort
« Reply #1073 on: August 30, 2018, 02:04:52 PM »
Was just running numbers again (again!), and of course, start re-thinking shit, as I am wont to do. Anyway, Planned retirement date is @May 7, 2019 (though likely actually May 31, with me not being around much at all those last three weeks). However, I looked at my pension numbers, and the short of it is, if I stuck around until Dec 31, it would mean an extra $2,568/year for the first 8 years of retirement, and $65,160 over the course of a 30-year retirement (not including of course the extra 7 months salary and 401k match). My gut tells me in ain't worth it because I'll never get that summer back and psychologically I've been so dead-set on May 2019 that it would be monumentally disappointing to not be saying "sayonara!" then, that I won't likely go through with it. And I could make that up with a 0.3% increase in my portfolio withdrawal. But I must confess that if the markets took a big dump sometime just before May 2019, then I might do it out of fear.

It's hard.  I'm in the 2018 cohort for the moment and was originally planning to be done by the end of July, but am considering OMY.  It took me until last week when I finally got the gumption up to tell my boss I was leaving.  They are trying to get me to stay and I'm definitely going to be here until the end of October with an extended vacation in the middle there. OMY is worth about 5-10% of my stache.  That means 5-10% more money available every year for the rest of my life.  Really debating whether it's worth it. At some point you have enough.
That's exactly the range where I found it sticky to work out too.  10% for a year was an easy decision to stay.  5% would be an easy decision to quit.  In between?
One of the thought processes that helped me decide was like this:

  • Another day of work would net me $x
  • My current fire budget gives me $y per day disposable income
  • A chill-out day at home, including cooking a nice dinner would cost me only $z meaning I would save (y-z) compared with my fire budgetI
  • If I need an extra $x would I rather earn it by working a day or having x/(y-z) days chilling out and relaxing?

Do you count returns on the stache when you look at this? I mean, in theory the average annual return is what 7% after inflation.  So even without adding additional money to savings, the stache will hopefully grow if I OMY it. (One of my irrational fears is that I will decide to do OMY, the market will crash, and I will no longer have a 4% SWR delaying things further. Obviously, if the market were to crash I'd be better off having done OMY, but would it ultimately prevent me from quitting?)

SugarMountain

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Re: 2019 fire cohort
« Reply #1074 on: August 30, 2018, 02:16:37 PM »

Regarding the OMY comments, I sometimes calculate this based on what it does for my discretionary spending after taxes.  As long as I manage my MAGI for ACA for 15 years, my barebones expenses shouldn't change except taxes longer term, so the extra stash would just be for the extra spending, having fun, traveling, eating out, etc.  So, as a single person, OMY would basically allow me to spend about $3000/yr more on discretionary spending.  That's only $250/mo, or about 10% more than the $30,000/yr that I already have planned for discretionary spending.  In my view, 10% increased entertainment/travel spending does not equal 10% more enjoyment or happiness.  In fact, I think the extra 10% would be so little as to be insignificant in how much I enjoy FIRE.  I can't justify one more full year of my life chained to my desk full time just for a 10% increase in my entertainment and travel budget going forward.

If you're in your 30's, OMY should be easier to deal with, but at 50, it gets more difficult to give up each year to a full time job.  Also, if you're cutting is closer to your basic expenses with a low discretionary budget, $3000 might do a lot more for you.  In my case, I feel $30K/yr for discretionary spending as a single person is plenty.

Of course, OMY can also provide more of a cushion in your stash if the market drops, but with my $30K discretionary and 60/40 AA, I shouldn't feel a need to OMY it unless things get really bad, or something happens with ACA to screw up my healthcare budget in a big way.  I still might stay on part time OMY, but that's a lot different to me than working full time.

That makes a lot of sense.  And as a 51 yo, OMY is a lot.  The counter is my #1 hesitation in the whole FIRE thing is the unknown situation with healthcare in this country.  Looking at what a Bronze plan costs a 60 year old right now makes me a bit nervous, especially given that a) healthcare costs have been going up more than the rate of inflation basically forever and that trend will likely get worse rather than better and b) the whole concept of ACA is potentially going away, so it's tough to count on subsidies being there 5-10 years from now.

So, while another 10% might not matter from a discretionary spending perspective, it could lessen the impact of large healthcare costs in the middle of my early retirement. (I do tend to think of 2 retirements: pre-65 (early) and post-65 (normal)). 

Trifele

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Re: 2019 fire cohort
« Reply #1075 on: August 31, 2018, 04:02:51 AM »
Updated cohort roster.  Welcome aboard @Dreamer !

01/01/19     MoneyStacher  (51)
01/31/19     PhilB  (53)                      OLY -- Planning 10/25/18
02/15/19     sui generis  (41)              OLY -- CONFIRMED 8/17/18.
02/??/19     zinnie  (35)
03/08/19     ChasesFish
03/15/19     exit2019  (40)
03/??/19     MissNancyPryor  (50)     
03/??/19     Roboturner  (30)
03/??/19     Edgema
03/25/19     MaybeBabyMustache
03/31/19     TartanTallulah  (55)          OLY -- Planning 10/31/2018.   
04/01/19     Trifele  (52)
04/01/19     HalfStached  (41)
04/01/19     Gerardc  (35)
04/01/19     JoJo (45)
04/??/19     Luck12  (41)
05/01/19     Albireo13  (61)
05/??/19     cerat0n1a                         OLY -- CONFIRMED 2018
05/??/19     dude                               
05/??/19     SamIAm38  (29)
05/??/19     FIRE 20/20  (42)
05/14/19     Mr. Ver (40)
05/17/19     Loren Ver (37)
05/31/19     Pylortes  (42)
05/31/19     Odiedog8590  (62)
05/31/19     Livingthedream55  (59)
06/01/19     2Birds1Stone  (32)
06/01/19     Prairie Stash
06/06/19     Bognish (44)
06/07/19     DreamFire
06/21/19     Parizade  (62)
06/22/19     Waffles  (52)
06/??/19     Oldtoyota
06/??/19     Itchyfeet  (47)
06/??/19     Bateaux  (50)
06/??/19     CryingInThePool  (44)
07/??/19     powersuitrecall  (47)
07/??/19     Enigma  (39)
07/??/19     Thedividebyzero  (45) 
07/03/19     Gerard
08/12/19     Canadian Ben  (29)
08/19/18     Chairman                         OLY -- CONFIRMED 2018
09/02/19     Cornbread OMalley  (42)
09/??/19     RetirementDreaming
09/27/19     Spreadsheet Man
10/??/19     VoteCthulu  (39)
10/??/19     Trix76  (43)
10/??/19     MoMan  (55)
10/??/19     Dreamer
12/??/19     markbike528cbx  (55)        OLY -- CONFIRMED 6/1/18; checking in as OP
12/??/19     HBFI  (38)
12/??/19     luckyme13  (45)
12/27/19     moxie
12/31/19     texxan1  (47)
12/31/19     Chrissy's DH

2019 Cohort with date TBD:
Lowerbills (40)
getoutsoon (52)
Elaine amj (40)
IPlawyer
« Last Edit: September 03, 2018, 09:14:43 AM by Trifele »

Trifele

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Re: 2019 fire cohort
« Reply #1076 on: August 31, 2018, 04:25:16 AM »
The whole OMY conversation is very interesting.  OMY for me would mean a whopping 18%/4 years of expenses added to the 'stache.  I'm in your boat @Lews Therin -- still not tempted.  If I've done my calculations right I don't need it.  Lean FIRE hear I come!

Thanks for your comments on the layoffs @Loren Ver and @SpareChange!  They haven't given us an exact timeframe, but it would most likely be around the holidays.  ("Happy holidays!")  Yes, it's a very stressful environment for most people, but for me personally -- so close to FIRE -- it's not.

You've given me some food for thought Loren, and I think I will most likely talk to my boss and volunteer for the layoff.  You are right that if they don't take me up on it, then that was their decision and I don't need to feel guilty when I leave anyway.  Thanks.

 

Loren Ver

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Re: 2019 fire cohort
« Reply #1077 on: August 31, 2018, 04:50:55 AM »
Glad my bumbling might be able to help someone :).  Put the power back in your corner!

I still think about it being more fun to announce randomly next year that I am leaving to retire, as opposed to being laid off.  But mathematically, the layoff is a really good option (and I'd get out early).

The holiday layoffs.  Always right around the holidays.  I know it gets people off the books, but it is also a bad time to job search since many companies freeze hiring in Q4.  Ugh.  Glad that isn't going to be my problem.

To lean fire! 

LV

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Re: 2019 fire cohort
« Reply #1078 on: August 31, 2018, 11:53:39 AM »

Regarding the OMY comments, I sometimes calculate this based on what it does for my discretionary spending after taxes.  As long as I manage my MAGI for ACA for 15 years, my barebones expenses shouldn't change except taxes longer term, so the extra stash would just be for the extra spending, having fun, traveling, eating out, etc.  So, as a single person, OMY would basically allow me to spend about $3000/yr more on discretionary spending.  That's only $250/mo, or about 10% more than the $30,000/yr that I already have planned for discretionary spending.  In my view, 10% increased entertainment/travel spending does not equal 10% more enjoyment or happiness.  In fact, I think the extra 10% would be so little as to be insignificant in how much I enjoy FIRE.  I can't justify one more full year of my life chained to my desk full time just for a 10% increase in my entertainment and travel budget going forward.

If you're in your 30's, OMY should be easier to deal with, but at 50, it gets more difficult to give up each year to a full time job.  Also, if you're cutting is closer to your basic expenses with a low discretionary budget, $3000 might do a lot more for you.  In my case, I feel $30K/yr for discretionary spending as a single person is plenty.

Of course, OMY can also provide more of a cushion in your stash if the market drops, but with my $30K discretionary and 60/40 AA, I shouldn't feel a need to OMY it unless things get really bad, or something happens with ACA to screw up my healthcare budget in a big way.  I still might stay on part time OMY, but that's a lot different to me than working full time.

That makes a lot of sense.  And as a 51 yo, OMY is a lot.  The counter is my #1 hesitation in the whole FIRE thing is the unknown situation with healthcare in this country.  Looking at what a Bronze plan costs a 60 year old right now makes me a bit nervous, especially given that a) healthcare costs have been going up more than the rate of inflation basically forever and that trend will likely get worse rather than better and b) the whole concept of ACA is potentially going away, so it's tough to count on subsidies being there 5-10 years from now.

So, while another 10% might not matter from a discretionary spending perspective, it could lessen the impact of large healthcare costs in the middle of my early retirement. (I do tend to think of 2 retirements: pre-65 (early) and post-65 (normal)).

 These ACA thoughts have definitely been on my radar as well, and I've thought about how much longer I would work if ACA was to go away before I FIREd.  Maybe OMY if that actually happened in the next 8 months.  My primary reason for not FIREing in 2018 was because of the uncertainty with the ACA with the repeal/replace efforts, and some uncertainty still lingers at this point with the "20 state lawsuit that Obamacare is now unconstitutional without the penalty" and whatever the current administration does in an attempt to dismantle it.  After the new Congress starts session, and by the time I plan to FIRE in the spring, I'm hoping I'll feel more confident in it surviving this latest attack and its survival during early FIRE, so that I can FIRE on schedule with planned expenses without much short-term concern.

If I FIRE, and the ACA/subsidies end a few years or so down the road, I think I'll be glad for every year of FIRE that I didn't give up and was able to take advantage of the ACA rather than having worked OMY to help fund insurance for when I might lose subsidies.  It helps that my large discretionary budget of $30K/yr would allow me shift a large chunk of those funds to my healthcare budget if subsidies went away, and I wouldn't have to worry about controlling my MAGI at that point and could drawdown a little more prior to age 65.  That would still give me a reasonable remaining discretionary budget.  Maybe I would even try to go back to work for a while if I could get a job with healthcare benefits, but I wouldn't "need" to, so that would depend on how I felt at the time.''

So, my view is, when June gets here, if I'm feeling pretty confident in the ACA sticking around during early FIRE, I'm not willing to OMY on the concern it may go away in a future year, in large part because I have a large discretionary budget to fund the higher cost.  If the ACA went away "before" I FIRE or/and a big enough drop in the market, I might OMY due to the pre-FIRE certainty of what's already happened.

itchyfeet

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Re: 2019 fire cohort
« Reply #1079 on: September 01, 2018, 12:04:48 PM »
Onwards and in to September with just 10 final paychecks to come, and that will be it.

I am finding it increasingly difficult to imagine not working.... forever..... hopefully 30, 40 or even 50 years of not working... itís so many years of freedom when I have never been unemployed since I was 14. The last time my time was my own I was 4.

As of today I remain committed to finishing at the end of June, but I am not 100% certain.

I am 95% certain Iíll quit (DW is very keen to repatriate) but only 65% sure Iíll stay quit. Weíll see how it goes. Maybe it will be a sabbatical rather than retirement.

There is a part of me already imaginging my career epitaph (if there was such a thing), ďhe threw away such a promising careerĒ. I do sometimes wonder whether I shouldnít see a shrink before pulling the trigger. Itís a really important decision, and I donít want to get it wrong.

Stash grew by another $20K in August which is great.

Cookie78

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Re: 2019 fire cohort
« Reply #1080 on: September 03, 2018, 08:45:26 AM »
Hi all!

I temp-FIREd in Aug 2017, went back to work Aug 2018. Not really sure what the plan is going forward, but here's to hoping for a permanent FIRE in 2019! Or even another year off would be nice. Just waiting out the real estate market slump for the next little while.

Trifele

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Re: 2019 fire cohort
« Reply #1081 on: September 03, 2018, 09:11:56 AM »
Hi all!

I temp-FIREd in Aug 2017, went back to work Aug 2018. Not really sure what the plan is going forward, but here's to hoping for a permanent FIRE in 2019! Or even another year off would be nice. Just waiting out the real estate market slump for the next little while.

Hey there Cookie78!  Let us know how things progress, and if it's looking likely for next year -- we'll get you added.   

Cookie78

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Re: 2019 fire cohort
« Reply #1082 on: September 03, 2018, 03:00:10 PM »
Hi all!

I temp-FIREd in Aug 2017, went back to work Aug 2018. Not really sure what the plan is going forward, but here's to hoping for a permanent FIRE in 2019! Or even another year off would be nice. Just waiting out the real estate market slump for the next little while.

Hey there Cookie78!  Let us know how things progress, and if it's looking likely for next year -- we'll get you added.   

Thanks! Will do. :D

Loren Ver

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Re: 2019 fire cohort
« Reply #1083 on: September 04, 2018, 05:42:01 AM »

Regarding the OMY comments, I sometimes calculate this based on what it does for my discretionary spending after taxes.  As long as I manage my MAGI for ACA for 15 years, my barebones expenses shouldn't change except taxes longer term, so the extra stash would just be for the extra spending, having fun, traveling, eating out, etc.  So, as a single person, OMY would basically allow me to spend about $3000/yr more on discretionary spending.  That's only $250/mo, or about 10% more than the $30,000/yr that I already have planned for discretionary spending.  In my view, 10% increased entertainment/travel spending does not equal 10% more enjoyment or happiness.  In fact, I think the extra 10% would be so little as to be insignificant in how much I enjoy FIRE.  I can't justify one more full year of my life chained to my desk full time just for a 10% increase in my entertainment and travel budget going forward.

If you're in your 30's, OMY should be easier to deal with, but at 50, it gets more difficult to give up each year to a full time job.  Also, if you're cutting is closer to your basic expenses with a low discretionary budget, $3000 might do a lot more for you.  In my case, I feel $30K/yr for discretionary spending as a single person is plenty.

Of course, OMY can also provide more of a cushion in your stash if the market drops, but with my $30K discretionary and 60/40 AA, I shouldn't feel a need to OMY it unless things get really bad, or something happens with ACA to screw up my healthcare budget in a big way.  I still might stay on part time OMY, but that's a lot different to me than working full time.

That makes a lot of sense.  And as a 51 yo, OMY is a lot.  The counter is my #1 hesitation in the whole FIRE thing is the unknown situation with healthcare in this country.  Looking at what a Bronze plan costs a 60 year old right now makes me a bit nervous, especially given that a) healthcare costs have been going up more than the rate of inflation basically forever and that trend will likely get worse rather than better and b) the whole concept of ACA is potentially going away, so it's tough to count on subsidies being there 5-10 years from now.

So, while another 10% might not matter from a discretionary spending perspective, it could lessen the impact of large healthcare costs in the middle of my early retirement. (I do tend to think of 2 retirements: pre-65 (early) and post-65 (normal)).

 These ACA thoughts have definitely been on my radar as well, and I've thought about how much longer I would work if ACA was to go away before I FIREd.  Maybe OMY if that actually happened in the next 8 months.  My primary reason for not FIREing in 2018 was because of the uncertainty with the ACA with the repeal/replace efforts, and some uncertainty still lingers at this point with the "20 state lawsuit that Obamacare is now unconstitutional without the penalty" and whatever the current administration does in an attempt to dismantle it.  After the new Congress starts session, and by the time I plan to FIRE in the spring, I'm hoping I'll feel more confident in it surviving this latest attack and its survival during early FIRE, so that I can FIRE on schedule with planned expenses without much short-term concern.

If I FIRE, and the ACA/subsidies end a few years or so down the road, I think I'll be glad for every year of FIRE that I didn't give up and was able to take advantage of the ACA rather than having worked OMY to help fund insurance for when I might lose subsidies.  It helps that my large discretionary budget of $30K/yr would allow me shift a large chunk of those funds to my healthcare budget if subsidies went away, and I wouldn't have to worry about controlling my MAGI at that point and could drawdown a little more prior to age 65.  That would still give me a reasonable remaining discretionary budget.  Maybe I would even try to go back to work for a while if I could get a job with healthcare benefits, but I wouldn't "need" to, so that would depend on how I felt at the time.''

So, my view is, when June gets here, if I'm feeling pretty confident in the ACA sticking around during early FIRE, I'm not willing to OMY on the concern it may go away in a future year, in large part because I have a large discretionary budget to fund the higher cost.  If the ACA went away "before" I FIRE or/and a big enough drop in the market, I might OMY due to the pre-FIRE certainty of what's already happened.

This is the way DH and i are looking at it too.  We have a big swing of discretionary money that we use for fun things (about a third of our budget) that could go to insurance if needed.  But at the same time that idea drives both DH and I nuts.  It is insurance, not health or even medical coverage, but insurance that should get your negotiated rate nothing more (BLARGH!).  If the ACA sticks around for a little while, or nest egg can grow while we are retired.  Then if it goes away we should still be okay.  Even if we really dislike paying so much for INSURANCE.  It is hard to believe that is just for premiums and not for actual care.  Insurance.  Ugh.

LV

FIRE 20/20

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Re: 2019 fire cohort
« Reply #1084 on: September 04, 2018, 08:33:13 AM »

This is the way DH and i are looking at it too.  We have a big swing of discretionary money that we use for fun things (about a third of our budget) that could go to insurance if needed.  But at the same time that idea drives both DH and I nuts.  It is insurance, not health or even medical coverage, but insurance that should get your negotiated rate nothing more (BLARGH!).  If the ACA sticks around for a little while, or nest egg can grow while we are retired.  Then if it goes away we should still be okay.  Even if we really dislike paying so much for INSURANCE.  It is hard to believe that is just for premiums and not for actual care.  Insurance.  Ugh.

LV

We're taking a similar approach.  We have budgeted for the full ACA rate without any subsidies.  If the ACA goes away tomorrow, then we will probably need to work longer because healthcare costs rise faster than inflation.  However, if it sticks around for just a few more years then we'll actually be paying the rate with the subsidy and saving the difference for as long as it lasts.  That way if it goes away we should have a bigger buffer if we need to pay the full rate later.  The danger zone is if the ACA is cancelled within a couple years of FIRE.  We'll just need to tap into the travel budget if that happens. 

SugarMountain

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Re: 2019 fire cohort
« Reply #1085 on: September 04, 2018, 11:51:09 AM »

This is the way DH and i are looking at it too.  We have a big swing of discretionary money that we use for fun things (about a third of our budget) that could go to insurance if needed.  But at the same time that idea drives both DH and I nuts.  It is insurance, not health or even medical coverage, but insurance that should get your negotiated rate nothing more (BLARGH!).  If the ACA sticks around for a little while, or nest egg can grow while we are retired.  Then if it goes away we should still be okay.  Even if we really dislike paying so much for INSURANCE.  It is hard to believe that is just for premiums and not for actual care.  Insurance.  Ugh.

LV

No doubt. I've really only been looking at Bronze plans that have like $6500 deductible per person and it's $12k/year for the two of us.  It's crazy.  It's also why very few people actually are buying insurance on the marketplace without subsidies. 

Our plan once I quit is to do cobra for 18 months and then look at options (Bronze plan, Shared Health Ministries, Short term plans, move to Portugal, etc).

JumboShrimp

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Re: 2019 fire cohort
« Reply #1086 on: September 04, 2018, 09:29:05 PM »
OMY here from 2018

New FIRE date is March 29 2019 (from Oct 5 2018).

Decided to stay working till the end of my current project. With the month I'm taking off in October it ends up being less than 100 extra work days than my original plan.

Should be a nice home stretch to the finish. Just have to be firm about it so that even if the project gets extended (a very plausible scenario) I don't stay. There is no reason for me to keep working past March 29.

Except fear.

Trifele

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Re: 2019 fire cohort
« Reply #1087 on: September 05, 2018, 03:46:34 AM »
Got you added @JumboShrimp .  Welcome aboard !  Your FIRE glide path sounds pretty ideal.  Welcome @Freedomin5 -- 2019 is going to be fine year.


01/01/19     MoneyStacher  (51)
01/31/19     PhilB  (53)                      OLY -- Planning 10/25/18
02/15/19     sui generis  (41)              OLY -- CONFIRMED 8/17/18.
02/??/19     zinnie  (35)
03/08/19     ChasesFish
03/15/19     exit2019  (40)
03/??/19     MissNancyPryor  (50)     
03/??/19     Roboturner  (30)
03/??/19     Edgema
03/25/19     MaybeBabyMustache
03/29/19     JumboShrimp
03/31/19     TartanTallulah  (55)          OLY -- Planning 10/31/2018.   
04/01/19     Trifele  (52)
04/01/19     HalfStached  (41)
04/01/19     Gerardc  (35)
04/01/19     JoJo (45)
04/??/19     Luck12  (41)
05/01/19     Albireo13  (61)
05/??/19     cerat0n1a                         OLY -- CONFIRMED 2018
05/??/19     dude                               
05/??/19     SamIAm38  (29)
05/??/19     FIRE 20/20  (42)
05/14/19     Mr. Ver (40)
05/17/19     Loren Ver (37)
05/31/19     Pylortes  (42)
05/31/19     Odiedog8590  (62)
05/31/19     Livingthedream55  (59)
06/01/19     2Birds1Stone  (32)
06/01/19     Prairie Stash
06/06/19     Bognish (44)
06/07/19     DreamFire
06/21/19     Parizade  (62)
06/22/19     Waffles  (52)
06/??/19     Oldtoyota
06/??/19     Itchyfeet  (47)
06/??/19     Bateaux  (50)
06/??/19     CryingInThePool  (44)
07/??/19     powersuitrecall  (47)
07/??/19     Enigma  (39)
07/??/19     Thedividebyzero  (45)
07/01/19     Freedomin5 (38)
07/03/19     Gerard
08/12/19     Canadian Ben  (29)
08/19/18     Chairman                         OLY -- CONFIRMED 2018
09/02/19     Cornbread OMalley  (42)
09/??/19     RetirementDreaming
09/27/19     Spreadsheet Man
10/??/19     VoteCthulu  (39)
10/??/19     Trix76  (43)
10/??/19     MoMan  (55)
10/??/19     Dreamer
12/??/19     markbike528cbx  (55)        OLY -- CONFIRMED 6/1/18; checking in as OP
12/??/19     HBFI  (38)
12/??/19     luckyme13  (45)
12/27/19     moxie
12/31/19     texxan1  (47)
12/31/19     Chrissy's DH

2019 Cohort with date TBD:
Lowerbills (40)
getoutsoon (52)
Elaine amj (40)
IPlawyer
[/quote]
« Last Edit: September 05, 2018, 08:13:19 AM by Trifele »

Freedomin5

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Re: 2019 fire cohort
« Reply #1088 on: September 05, 2018, 07:32:32 AM »
Hi, Iím popping in here from the 2020 cohort. In the past year, our income (and therefore savings) has increased, and the markets and our RE investments have been doing well, so it looks like we will be hitting our FIRE target early (barring any catastrophic crash).

We are aiming for July 1, 2019 as our new FIRE date (age 38).

If that happens, Iíll have to change my username to Freedomin4 (2015 was when we first got serious about FIRE-ing, and when we first started making decent enough income to accelerate the process).

Trifele

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Re: 2019 fire cohort
« Reply #1089 on: September 05, 2018, 08:13:39 AM »
Hi, Iím popping in here from the 2020 cohort. In the past year, our income (and therefore savings) has increased, and the markets and our RE investments have been doing well, so it looks like we will be hitting our FIRE target early (barring any catastrophic crash).

We are aiming for July 1, 2019 as our new FIRE date (age 38).

If that happens, Iíll have to change my username to Freedomin4 (2015 was when we first got serious about FIRE-ing, and when we first started making decent enough income to accelerate the process).

Welcome!  Got you added.

Loren Ver

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Re: 2019 fire cohort
« Reply #1090 on: September 05, 2018, 08:21:46 AM »
Hi, Iím popping in here from the 2020 cohort. In the past year, our income (and therefore savings) has increased, and the markets and our RE investments have been doing well, so it looks like we will be hitting our FIRE target early (barring any catastrophic crash).

We are aiming for July 1, 2019 as our new FIRE date (age 38).

If that happens, Iíll have to change my username to Freedomin4 (2015 was when we first got serious about FIRE-ing, and when we first started making decent enough income to accelerate the process).

Welcome!!  As discussed previously, we are the best cohort and the coolest!

:)

PhilB

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Re: 2019 fire cohort
« Reply #1091 on: September 05, 2018, 09:13:37 AM »
Hi, Iím popping in here from the 2020 cohort. In the past year, our income (and therefore savings) has increased, and the markets and our RE investments have been doing well, so it looks like we will be hitting our FIRE target early (barring any catastrophic crash).

We are aiming for July 1, 2019 as our new FIRE date (age 38).

If that happens, Iíll have to change my username to Freedomin4 (2015 was when we first got serious about FIRE-ing, and when we first started making decent enough income to accelerate the process).

Welcome!!  As discussed previously, we are the best cohort and the coolest!

:)
And also by far the most modest!

letsdoit

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Re: 2019 fire cohort
« Reply #1092 on: September 05, 2018, 09:37:45 AM »
I found out today that I will be earning my 40th SS credit on March 31st 2019, so technically if I win the lottery between now and then, I can retire =P

A more likely scenario is getting fired/laid off from my current job.

Is anyone planning a leanfire? Basically retiring on an amount that requires a WR% greater than 4% with the assumption that you will return to some sort of work, whether it's part time for a longer period, or full time for another year or two?


SO and I are currently sitting ~$460k with an annual spend of ~$48k, FU$, but not FI$. We may be able to get to $550-600k by 2019 if the market cooperates, and with slow travel/geographical arbitrage should get our spending down to $36-40k/yr which would mean a 6-7.25% WR

Spent a good amount of time over the past month considering this scenario more seriously. Have been drawing more inspiration from the "Semi Retirement VS. Serial Mini Retirements" thread. Right now a gap year is planned for April 1 2020, but could possibly do it sooner if the courage is there.

i've been thinking about it.  maybe too much for my own good.  one morning out of the blue maybe we'll read it in the tea leaves

Cookie78

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Re: 2019 fire cohort
« Reply #1093 on: September 05, 2018, 10:07:59 AM »
I found out today that I will be earning my 40th SS credit on March 31st 2019, so technically if I win the lottery between now and then, I can retire =P

A more likely scenario is getting fired/laid off from my current job.

Is anyone planning a leanfire? Basically retiring on an amount that requires a WR% greater than 4% with the assumption that you will return to some sort of work, whether it's part time for a longer period, or full time for another year or two?


SO and I are currently sitting ~$460k with an annual spend of ~$48k, FU$, but not FI$. We may be able to get to $550-600k by 2019 if the market cooperates, and with slow travel/geographical arbitrage should get our spending down to $36-40k/yr which would mean a 6-7.25% WR

Spent a good amount of time over the past month considering this scenario more seriously. Have been drawing more inspiration from the "Semi Retirement VS. Serial Mini Retirements" thread. Right now a gap year is planned for April 1 2020, but could possibly do it sooner if the courage is there.

i've been thinking about it.  maybe too much for my own good.  one morning out of the blue maybe we'll read it in the tea leaves

I just finished my 'Gap Year' 3 weeks ago and I'd highly recommend it... but it's a bitch coming back to work. The first week was exciting and shiny, and the job itself is great. But the time commitment required to maintain a full time job is bullshit! It has me in a emotional tailspin like I've never experienced before!

Linda_Norway

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Re: 2019 fire cohort
« Reply #1094 on: September 05, 2018, 05:11:44 PM »
I found out today that I will be earning my 40th SS credit on March 31st 2019, so technically if I win the lottery between now and then, I can retire =P

A more likely scenario is getting fired/laid off from my current job.

Is anyone planning a leanfire? Basically retiring on an amount that requires a WR% greater than 4% with the assumption that you will return to some sort of work, whether it's part time for a longer period, or full time for another year or two?


SO and I are currently sitting ~$460k with an annual spend of ~$48k, FU$, but not FI$. We may be able to get to $550-600k by 2019 if the market cooperates, and with slow travel/geographical arbitrage should get our spending down to $36-40k/yr which would mean a 6-7.25% WR

Spent a good amount of time over the past month considering this scenario more seriously. Have been drawing more inspiration from the "Semi Retirement VS. Serial Mini Retirements" thread. Right now a gap year is planned for April 1 2020, but could possibly do it sooner if the courage is there.

i've been thinking about it.  maybe too much for my own good.  one morning out of the blue maybe we'll read it in the tea leaves

I just finished my 'Gap Year' 3 weeks ago and I'd highly recommend it... but it's a bitch coming back to work. The first week was exciting and shiny, and the job itself is great. But the time commitment required to maintain a full time job is bullshit! It has me in a emotional tailspin like I've never experienced before!

I feel like this, 3 weeks after returning from a 4 week summer holiday. I changed my password into vacation modus, because I felt like that the first days. But already now I have totally lost that modus. I am now in this modus of permanent anxiety, alternated with moments of heavy stress. Not to mention, the sleeplessness at night.

Cornbread OMalley

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Re: 2019 fire cohort
« Reply #1095 on: September 05, 2018, 08:52:53 PM »
Today I submitted all my papers and my formal request to retire from the military.  Human resources will look through my paperwork and ensure everything is in order.  Now begins the waiting game for the human resources folks to approve my retirement date.

Bateaux

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Re: 2019 fire cohort
« Reply #1096 on: September 05, 2018, 09:45:52 PM »
Today I submitted all my papers and my formal request to retire from the military.  Human resources will look through my paperwork and ensure everything is in order.  Now begins the waiting game for the human resources folks to approve my retirement date.

Sounds great.  Thank you for your long term commitment of service.  Have fun with the next chapter.

Freedomin5

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Re: 2019 fire cohort
« Reply #1097 on: September 06, 2018, 04:17:25 AM »
Hi, Iím popping in here from the 2020 cohort. In the past year, our income (and therefore savings) has increased, and the markets and our RE investments have been doing well, so it looks like we will be hitting our FIRE target early (barring any catastrophic crash).

We are aiming for July 1, 2019 as our new FIRE date (age 38).

If that happens, Iíll have to change my username to Freedomin4 (2015 was when we first got serious about FIRE-ing, and when we first started making decent enough income to accelerate the process).

Welcome!!  As discussed previously, we are the best cohort and the coolest!

:)
And also by far the most modest!

Thanks for the warm welcome! Yes, you guys are by far the humblest people Iíve ever met. Seriously though, Iím glad to be here. :)

Lews Therin

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Re: 2019 fire cohort
« Reply #1098 on: September 06, 2018, 07:16:28 AM »
Today I submitted all my papers and my formal request to retire from the military.  Human resources will look through my paperwork and ensure everything is in order.  Now begins the waiting game for the human resources folks to approve my retirement date.

You had to give 12 months notice? Here in the North it's just 6.

Loren Ver

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Re: 2019 fire cohort
« Reply #1099 on: September 06, 2018, 08:29:04 AM »
Hi, Iím popping in here from the 2020 cohort. In the past year, our income (and therefore savings) has increased, and the markets and our RE investments have been doing well, so it looks like we will be hitting our FIRE target early (barring any catastrophic crash).

We are aiming for July 1, 2019 as our new FIRE date (age 38).

If that happens, Iíll have to change my username to Freedomin4 (2015 was when we first got serious about FIRE-ing, and when we first started making decent enough income to accelerate the process).

Welcome!!  As discussed previously, we are the best cohort and the coolest!

:)
And also by far the most modest!

Thanks for the warm welcome! Yes, you guys are by far the humblest people Iíve ever met. Seriously though, Iím glad to be here. :)

Coolest, most modest and best looking.

Happy you are here!