Author Topic: 2019 fire cohort  (Read 53533 times)

PhilB

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Two years to go!
« Reply #300 on: June 30, 2017, 01:22:34 AM »
Only 2 more years to go to RE and I am now most definitely FI.  The last 2 years are just adding to my (already more than adequate) contingency fund to help me sleep better.  So it occurs to me, If my existing retirement funds can already support my lifestyle then all my post tax earnings are effectively just being added to savings - a 100% savings rate ! :-)

Linda_Norway

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Re: Two years to go!
« Reply #301 on: June 30, 2017, 02:03:43 AM »
Only 2 more years to go to RE and I am now most definitely FI.  The last 2 years are just adding to my (already more than adequate) contingency fund to help me sleep better.  So it occurs to me, If my existing retirement funds can already support my lifestyle then all my post tax earnings are effectively just being added to savings - a 100% savings rate ! :-)

Congrats on being FI!

Itchyfeet

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Re: Two years to go!
« Reply #302 on: June 30, 2017, 03:26:27 AM »
Only 2 more years to go to RE and I am now most definitely FI.  The last 2 years are just adding to my (already more than adequate) contingency fund to help me sleep better.  So it occurs to me, If my existing retirement funds can already support my lifestyle then all my post tax earnings are effectively just being added to savings - a 100% savings rate ! :-)

Totally awesome that you are set financially.... but I can't agree with the maths 😜

I do get the sentiment, but if you are not spending your salary you are drawing on the returns from your stash. So yes a 100% savings rate of salary, but a negative saving rate elsewhere.

I have seen others here include investment returns + salary in calculating their savings rate e.g.: salary 100k + investment returns 100k = 200k. Expenditure = 50k. Therefore savings rate =75%.

Others just look at their salary and spending, not including investment gains. I think this is more common.

I guess both are valid, but your method hmmmm 😬.

 I suspect 2017 won't be the first year that investment returns were greater than spending. It will be our 3 year. This certainly adds confidence to FIREing.

PhilB

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Re: Two years to go!
« Reply #303 on: June 30, 2017, 04:15:54 AM »
Totally awesome that you are set financially.... but I can't agree with the maths 😜

I do get the sentiment, but if you are not spending your salary you are drawing on the returns from your stash. So yes a 100% savings rate of salary, but a negative saving rate elsewhere.

I have seen others here include investment returns + salary in calculating their savings rate e.g.: salary 100k + investment returns 100k = 200k. Expenditure = 50k. Therefore savings rate =75%.

Others just look at their salary and spending, not including investment gains. I think this is more common.

I guess both are valid, but your method hmmmm 😬.
My '100% savings rate' comment was very tongue-in-cheek and isn't a methodology I'd recommend generally - and certainly not before FI - but I think it does have some validity in my case.  As I am FI, when analysing my decision to keep working probably the most relevant question is 'what percentage of those earnings will be translated to an increase in my contingency fund?' and the rather delightful answer is 100%. 
My Excel model is telling me that if I retire today I should be able to support a spending level roughly 10% higher than my actuals for the last couple of years.  I don't expect much lifestyle inflation so anything extra just fattens the contingencies and increases inheritance. 
Quote
I suspect 2017 won't be the first year that investment returns were greater than spending. It will be our 3 year. This certainly adds confidence to FIREing.
Congratulations, that definitely helps.  I'm not very trusting of recent investment returns so that isn't a number I've particularly looked at against spending - in fact my retirement model has been using a 4% real return for the last 3 years rather than marking to market.  Actuals are currently about 8% above the number in my model and I wouldn't feel comfortable 'banking' that to the model as valuations are looking rather high.

cerat0n1a

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Re: Two years to go!
« Reply #304 on: June 30, 2017, 05:00:28 AM »
Only 2 more years to go to RE and I am now most definitely FI.  The last 2 years are just adding to my (already more than adequate) contingency fund to help me sleep better.  So it occurs to me, If my existing retirement funds can already support my lifestyle then all my post tax earnings are effectively just being added to savings - a 100% savings rate ! :-)

I'm effectively in the same situation. On the one hand, it's nice to see the total fund size growing so rapidly compared to when starting out. The first 10k (or 100k) truly is the hardest. On the other hand, when the size of your 'stache can easily vary by a month or two's salary during any given day, it's good to keep the discipline of not checking too often.

PhilB

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Re: Two years to go!
« Reply #305 on: June 30, 2017, 06:05:36 AM »
I'm effectively in the same situation. On the one hand, it's nice to see the total fund size growing so rapidly compared to when starting out. The first 10k (or 100k) truly is the hardest. On the other hand, when the size of your 'stache can easily vary by a month or two's salary during any given day, it's good to keep the discipline of not checking too often.
Yep.  It's a tricky thing to get your head around when the numbers get to be both big and bouncy.  What's worked for me is checking on the same day every week and plotting actuals against budget on a graph (geeky or what?).  After watching that for a few years I can now maintain my equanimity whilst watching the numbers go up and down and concentrate on the trends rather than the noise.

VoteCthulu

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Re: 2019 fire cohort
« Reply #306 on: June 30, 2017, 01:06:20 PM »
I track my savings once a month, mostly for personal motivation. I'm waiting for healthcare to become a bit more certain before I review my number to make sure I won't need OMY. Or if the Obamacare subsidies stick around, perhaps even OLY.

Linda_Norway

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Re: 2019 fire cohort
« Reply #307 on: June 30, 2017, 01:12:49 PM »
I tracked my stock investments day. It. Is all invested in foreign indexfunds for speading risk, as I live in a country with a small valuta. Earlier all my stock was at 7% or more profit. Currently my European index fund and the fastgrowing markets funds are in the negative! I guess it has something to do with the value of the Norwegian crown.bmy Asian index fund is still doing very well, as is my world index fund.  On all funds I am currently 10% in the positive after 1,5 year with investing. Still on schedule for the future 4% rule. And I presume those negative funds will climb again at some time in the future.

Itchyfeet

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Re: 2019 fire cohort
« Reply #308 on: July 01, 2017, 12:26:08 AM »
I tracked my stock investments day. It. Is all invested in foreign indexfunds for speading risk, as I live in a country with a small valuta. Earlier all my stock was at 7% or more profit. Currently my European index fund and the fastgrowing markets funds are in the negative! I guess it has something to do with the value of the Norwegian crown.bmy Asian index fund is still doing very well, as is my world index fund.  On all funds I am currently 10% in the positive after 1,5 year with investing. Still on schedule for the future 4% rule. And I presume those negative funds will climb again at some time in the future.

Yeah, the weaker USD impacted me a little this month too.

Bateaux

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Re: 2019 fire cohort
« Reply #309 on: July 01, 2017, 10:28:29 PM »
If my investments return 5% annually for the next two years then I will meet my goal.  Sure would appreciate having some idea what health care costs will be then.
ďPerfection is achieved, not when there is nothing more to add, but when there is nothing left to take away.Ē
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Class of 2019

Itchyfeet

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Re: 2019 fire cohort
« Reply #310 on: July 02, 2017, 02:53:06 AM »
June proved to be a great month on the road to FIRE, more than offsetting my stash shrinkage from May by adding a handy sum more.

I am now at 22x my post FIRE planned spending, or a withdrawal rate of 4.5% if I FIRED today.

So far this year my stash has generated very impressive annualized returns of 12.9%, primarily due to leveraged property investments.

My equity investments have only given me an annualized return of around 5% due to a flat Australian stock market and the weaker US dollar diminishing otherwise great returns on my international investments.

The annualized returns from property for the 6 months were 10%, but with leverage I gained 18% annualized. These numbers includes both rent and cap gains, and all costs including finance.

I really can't imagine any further gains on property this year beyond rent, so will be hoping for Australian equities to do some of the heavy lifting, like they did in H2 2016. Fingers crossed. At least dividends should be higher in H2.

My savings rate in June was not great. Clearly DW and I have work to do on tightening spending ahead of FIRE. The hole in June was spending on our summer vacation in July, which is not every month I suppose. However, after 6 months my spending this year is a couple of grand above the target, so we will want to reel that in over the coming months.

FIRE 2019 is certainly on track!!!


VoteCthulu

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Re: 2019 fire cohort
« Reply #311 on: July 03, 2017, 01:21:00 PM »
Yeah, the US index funds have done great this year. I find myself hoping for a little recession before I retire, so I can start off with the recovery. I'm pretty sure the market will tank 3- 6 months after whatever date I retire at, though.

Itchyfeet

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Re: 2019 fire cohort
« Reply #312 on: July 03, 2017, 01:35:48 PM »
Yes, I will certainly never t be starting FIRE with 100% equities. Some cash and some bonds for at least the first few years will help me sleep better. I also have rental property that I'll prob keep post FIRE to provide a steady income.

Linda_Norway

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Re: 2019 fire cohort
« Reply #313 on: July 04, 2017, 02:09:26 AM »
Yes, I will certainly never t be starting FIRE with 100% equities. Some cash and some bonds for at least the first few years will help me sleep better. I also have rental property that I'll prob keep post FIRE to provide a steady income.

I haven't really been realizing this. Although for the last to weeks I have been thinking about buying bonds in the future. But we have such a large portion of our money put into property (our current house and hut) that the risk is already spread. We are investing in funds now to spread in into something else than property.
I haven seen a Norwegian bond fund (Rentefond) that has generated 4,5% in the past years. That doesn't sound too bad. Although most stock funds are between 8 and 18%. I think I'll wait before doing that until either the rent goes up or we really start working part time.

Vegasgirl

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Re: 2019 fire cohort
« Reply #314 on: July 07, 2017, 07:20:24 AM »
Just looking at my pay stub this morning and seeing that I got an award of 40 hours annual leave.   Makes my day since I decided back at the beginning of the year I had no problem using most, if not all of my AL prior to leaving in 2019 !! What fun !!  I think I'll just be off for the remainder of the Fridays this year !!! 

Livingthedream55

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Re: 2019 fire cohort
« Reply #315 on: July 07, 2017, 07:42:22 AM »
Just looking at my pay stub this morning and seeing that I got an award of 40 hours annual leave.   Makes my day since I decided back at the beginning of the year I had no problem using most, if not all of my AL prior to leaving in 2019 !! What fun !!  I think I'll just be off for the remainder of the Fridays this year !!!

Sweet!



TartanTallulah

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Re: 2019 fire cohort
« Reply #316 on: July 07, 2017, 09:09:22 AM »
Just looking at my pay stub this morning and seeing that I got an award of 40 hours annual leave.   Makes my day since I decided back at the beginning of the year I had no problem using most, if not all of my AL prior to leaving in 2019 !! What fun !!  I think I'll just be off for the remainder of the Fridays this year !!!

Result! Congratulations :-)



Cornbread OMalley

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Re: 2019 fire cohort
« Reply #317 on: July 09, 2017, 09:36:37 AM »
Just looking at my pay stub this morning and seeing that I got an award of 40 hours annual leave.   Makes my day since I decided back at the beginning of the year I had no problem using most, if not all of my AL prior to leaving in 2019 !! What fun !!  I think I'll just be off for the remainder of the Fridays this year !!!
That is awesome!

Cornbread OMalley

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Re: 2019 fire cohort
« Reply #318 on: July 09, 2017, 09:42:36 AM »
Yes, I will certainly never t be starting FIRE with 100% equities. Some cash and some bonds for at least the first few years will help me sleep better. I also have rental property that I'll prob keep post FIRE to provide a steady income.
I will hit FIRE with 100% equities and stay that way indefinitely.  At least that's my thinking for now.  Upon FIRE I get a pension worth $40K annually that fits the role as bond income.  This gives me the flexibility to keep the allocation in equities very high.  So my thinking is if there is a downturn in the markets I rely on the monies from that pension and my cash reserves to ride out the downturn and give my equities the time needed to recover.

Itchyfeet

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Re: 2019 fire cohort
« Reply #319 on: July 09, 2017, 10:05:15 AM »
A $40k pension would certainly be enough to allow me to sleep soundly every night.

I would value that at $800K in my stash. That's pretty nice to have.

Cornbread OMalley

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Re: 2019 fire cohort
« Reply #320 on: July 09, 2017, 07:14:54 PM »
A $40k pension would certainly be enough to allow me to sleep soundly every night.

I would value that at $800K in my stash. That's pretty nice to have.
Can you explain to me the math you used to equate a $40K pension to $800K stash?

Itchyfeet

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Re: 2019 fire cohort
« Reply #321 on: July 10, 2017, 01:19:37 AM »
A $40k pension would certainly be enough to allow me to sleep soundly every night.

I would value that at $800K in my stash. That's pretty nice to have.
Can you explain to me the math you used to equate a $40K pension to $800K stash?

I am just saying that in the absence of the pension you would need at least 20x the pension saved in your stash to fund life post retirement ie: 20 x 40K = $800K.

Arguably, you could also say that having $40K of certain income is better than having an $800K stash that is subject to sequence of returns risk. In this case you might argue that the pension is worth say 30x its annual value ie: $1.2M. Whatever!!

Ultimately, it really doesn't matter, as I would presume for post FIRE calculations you would take your annual expenditure requirement and then deduct the $40K pension to arrive at the expenses than need to be funded from your stash and then multiply that number by 20-30 to arrive at how big a stash you need outside the pension.

I also will receive a small pension and I like to put a value on it as I consider it part of my net worth. In my case I wont get the pension for 10 more years, so discount the value.



Cornbread OMalley

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Re: 2019 fire cohort
« Reply #322 on: July 15, 2017, 11:17:30 AM »
I am just saying that in the absence of the pension you would need at least 20x the pension saved in your stash to fund life post retirement ie: 20 x 40K = $800K...I also will receive a small pension and I like to put a value on it as I consider it part of my net worth.
Ah, yes.  Some of the other forum members and I have posed the question of how much a pension translates to a number for net worth considerations.  At the end of the discussion we decided the technique you mention is oversimplifying things too much.  There are certain pension plans that don't translate to a set amount to be counted in the net worth stash.  It was better and more accurate to keep the pension amount separate from the net worth stash.

Arguably, you could also say that having $40K of certain income is better than having an $800K stash that is subject to sequence of returns risk. In this case you might argue that the pension is worth say 30x its annual value ie: $1.2M. Whatever!!
I think of my pension as an annuity.

...I would presume for post FIRE calculations you would take your annual expenditure requirement and then deduct the $40K pension to arrive at the expenses than need to be funded from your stash and then multiply that number by 20-30 to arrive at how big a stash you need outside the pension.
That is correct.

powersuitrecall

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Re: 2019 fire cohort
« Reply #323 on: July 17, 2017, 11:25:42 AM »
I'm in a kinda funny situation at work.  A while ago I applied for a promotion pool and have been going through the process (Resume --> Exam --> Interview).  It's all competency based and very procedural. i.e. long and painful.  Given that I'm 2 years away from RE, being promoted at this point wouldn't hasten my departure by much. On paper I'll get there a couple of weeks ahead, a month at most.

I've had many inner conversations between career-man: "You need this! It's important!" and RE-man: "Why are you going through this terrible process!  RE is in the bag! Work sucks! Let someone else have this! You don't need more money!".

At this point career-man seems to be winning.  I want it.  Maybe it's desire for external validation, or wanting to achieve something in my last 2 years.  Regardless, I know it's not for the money, and that is a nice feeling.

Update - I didn't pass the interview.  It's disappointing on a variety of levels but ultimately doesn't impact the FIRE goals.


PhilB

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Re: 2019 fire cohort
« Reply #324 on: July 18, 2017, 05:35:44 AM »
Commiserations on failing the interview, but bigger congratulations on being in a position where you can afford to great the news with: 'Whatever.'

Cornbread OMalley

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Re: 2019 fire cohort
« Reply #325 on: July 26, 2017, 03:52:15 PM »
My timeline for the next few years looks like this:

1)  Get stabilized with assignment in the United States
2)  Report to new assignment in September 2017
3)  Work in assignment until September 2018; submit retirement paperwork
4)  Full retirement, August 2019

Once I settle into my new duty assignment, I have to inform my new boss of my intent to retire.  I will have to play my cards close hold and assess the atmosphere of my new environment and time my announcement well.  I will continue to track my expenses to see how the finances will look in a LCOL area.  Two years of doing this along with continuing to build my stash and I'll be more than solid.  Overall, I don't think I could've asked for better circumstances for the short term, and things are going as I envisioned.  I locked in item #1 on the timeline.  I wrote a short email with my biography attached and sent to my new boss.  He seems happy to have me coming on board.  So this begins the closing out of my current job and begins the transition to the new one.

VoteCthulu

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Re: 2019 fire cohort
« Reply #326 on: July 26, 2017, 04:17:28 PM »
11 months retirement notice seems excessive, is there some exit benefit you get from it, or is that required in the military (I assume).

Cornbread OMalley

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Re: 2019 fire cohort
« Reply #327 on: July 26, 2017, 04:37:13 PM »
11 months retirement notice seems excessive, is there some exit benefit you get from it, or is that required in the military (I assume).
Processing a retirement request and the associated paperwork takes one year.

MoMan

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Re: 2019 fire cohort
« Reply #328 on: July 26, 2017, 05:41:37 PM »
You forgot to gloat that you are 24 months from total freedom!
"He is richest who is contented, for content is the wealth of nature."

Cornbread OMalley

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Re: 2019 fire cohort
« Reply #329 on: July 26, 2017, 08:57:13 PM »
You forgot to gloat that you are 24 months from total freedom!
Haha!  Nah, considering this is a 2019 cohort and most here will be done around the same time I will!

Trifele

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Re: 2019 fire cohort
« Reply #330 on: July 31, 2017, 04:24:41 AM »
Crossing a milestone today.  Two years from today will be my last day of work!!  24 months to freedom.  Yeah!

MoMan

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Re: 2019 fire cohort
« Reply #331 on: July 31, 2017, 06:57:54 AM »
Exciting!! I just dropped below the 800 day mark, so I'm about 3 months behind you.

Tick ... tock ...
"He is richest who is contented, for content is the wealth of nature."

TartanTallulah

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Re: 2019 fire cohort
« Reply #332 on: July 31, 2017, 10:46:54 AM »
I've resolved to stop counting days. Counting days doesn't help, because at the moment it still looks like a lot of days, and because it distracts me from the present need to do my job as well as I can.



zinnie

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Re: 2019 fire cohort
« Reply #333 on: July 31, 2017, 04:16:11 PM »
I've resolved to stop counting days. Counting days doesn't help, because at the moment it still looks like a lot of days, and because it distracts me from the present need to do my job as well as I can.

me too, counting makes it worse and go much slower. as does focusing on it too much by visiting this thread! trying really hard to focus on other things while the time passes anyway, so i don't make myself miserable all this time. will be easier once it gets closer, i assume...

Bateaux

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Re: 2019 fire cohort
« Reply #334 on: July 31, 2017, 06:35:55 PM »
My old date was March 1, 2018.  I'd set that date back in 2014.  I'd set a goal of 2M net worth and no debt by that date.  The net worth goal has been surpassed.  The date however had been extended by 15 months.  The new goal is 2M liquid and no debt.  This is a hard date now.

669 days
ďPerfection is achieved, not when there is nothing more to add, but when there is nothing left to take away.Ē
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Class of 2019

Itchyfeet

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Re: 2019 fire cohort
« Reply #335 on: August 02, 2017, 11:55:36 PM »
July Report Card

The Good...

  - After 7 months of the year (58% of the year) our net worth has grown by 81% of the target I set for the year at the beginning of 2017. We are having a good year.
  - Investment returns so far this year are more than our salaries and double our expenditure
  - Our stash is now at 22.5x our forecast post FIRE annual spending. So close now!!!. If we stopped working today we would be looking at a 4.4% withdrawal rate, which is most likely going to be successful with a little flexibility

The Bad

  - Spending in the first 7 months was a little higher than it should have been. We have a rough objective of not spending more than 50% of what we earn (we don't keep a detailed budget), and after 7 months we have spent 54% of income. We will try to recover this minor overspend in the remaining 5 months of the year. The overspend is purely due to hedonistic vacations.

Discussions are ongoing about whether to bring FIRE forward to 2018, as we will hit our number probably mid 2018. However, in light of the heady investment returns we have enjoyed of late we might stick with the original date (June 2019) and take a little extra cash buffer into FIRE with us. Decision will be made at Christmas this year.

zinnie

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Re: 2019 fire cohort
« Reply #336 on: August 03, 2017, 08:37:39 AM »
July Report Card

The Good...

  - After 7 months of the year (58% of the year) our net worth has grown by 81% of the target I set for the year at the beginning of 2017. We are having a good year.
  - Investment returns so far this year are more than our salaries and double our expenditure
  - Our stash is now at 22.5x our forecast post FIRE annual spending. So close now!!!. If we stopped working today we would be looking at a 4.4% withdrawal rate, which is most likely going to be successful with a little flexibility

The Bad

  - Spending in the first 7 months was a little higher than it should have been. We have a rough objective of not spending more than 50% of what we earn (we don't keep a detailed budget), and after 7 months we have spent 54% of income. We will try to recover this minor overspend in the remaining 5 months of the year. The overspend is purely due to hedonistic vacations.

Discussions are ongoing about whether to bring FIRE forward to 2018, as we will hit our number probably mid 2018. However, in light of the heady investment returns we have enjoyed of late we might stick with the original date (June 2019) and take a little extra cash buffer into FIRE with us. Decision will be made at Christmas this year.

Great update! Congrats on possibly moving up to 2018. Either way, that's pretty close :)

zinnie

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Re: 2019 fire cohort
« Reply #337 on: August 03, 2017, 09:20:15 AM »
So, I quit my job. I have been spectacularly unmotivated, we are planning for layoffs, and seeing my boss sketch out new team organizations with me in them and others not just didn't feel right. People on my team really like their jobs and really want to stay, and I don't. So after September 1, I will be unemployed.

The good news is that it looks like as long as we can figure out how to invest $1500/month, I will just move from early to late 2019! That MMM article about your investments becoming a snowball that just picks up speed is so true. I can do freelance and contract work in my field, and my husband is going to teach in the evenings to bring in a little extra cash. Budgets will be really tight, but it will be good practice for FIRE.

I also need to figure out what I want to do with the rest of my life, and now Iím forced into it. We havenít really focused much on where we want to live (we are here because of jobs), what we want to do, and kids or no kids, as weíve mostly focused on trying to balance two full-time jobs with small amounts of fun. Iíve had a hard time feeling like I have enough time for a life outside of work, and now that will be gone.

Iím a little scared. My coworkers are pretty much like family, and are my sole source of friendships right now. Though everyone is promising to keep in touch, I know thatís all going to change. That said, I donít know very many people who live close to me and I need to. I want to spend more time in my own neighborhood. Now it feels like I just come here to sleep.


Cornbread OMalley

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Re: 2019 fire cohort
« Reply #338 on: August 03, 2017, 10:08:53 AM »
So, I quit my job...I also need to figure out what I want to do with the rest of my life, and now Iím forced into it...I donít know very many people who live close to me and I need to. I want to spend more time in my own neighborhood...
That's really awesome in a MMM kind of way.  This is a fresh start, and now you can really explore what is immediately around you and what interests you.  I'm jealous since I don't have the option to call it quits.

zinnie

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Re: 2019 fire cohort
« Reply #339 on: August 07, 2017, 08:15:30 AM »
So, I quit my job...I also need to figure out what I want to do with the rest of my life, and now Iím forced into it...I donít know very many people who live close to me and I need to. I want to spend more time in my own neighborhood...
That's really awesome in a MMM kind of way.  This is a fresh start, and now you can really explore what is immediately around you and what interests you.  I'm jealous since I don't have the option to call it quits.

Thanks! This is FU money, I guess? Even though I'm not exactly saying it that way...

Sounds like you have a good plan going on. Sorry it can't come sooner, though!

markbike528CBX

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Re: 2019 fire cohort
« Reply #340 on: August 07, 2017, 08:30:32 AM »
I made a command decision this summer. No more working summers. So I'll bail out of the job before Memorial Day 2018. 

"I would say it is your first command decision".
http://www.voyager.cz/tng/epizody/034matterofhonortrans.html


Oddly, one of the things that made me reluctant to bail early was the fact that I'm the OP of this thread.

Livingthedream55

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Re: 2019 fire cohort
« Reply #341 on: August 07, 2017, 08:55:14 AM »
I made a command decision this summer. No more working summers. So I'll bail out of the job before Memorial Day 2018. 

"I would say it is your first command decision".
http://www.voyager.cz/tng/epizody/034matterofhonortrans.html


Oddly, one of the things that made me reluctant to bail early was the fact that I'm the OP of this thread.

Congrats!  So one less year then? :0 )



markbike528CBX

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Re: 2019 fire cohort
« Reply #342 on: August 07, 2017, 09:06:24 AM »
I made a command decision this summer. No more working summers. So I'll bail out of the job before Memorial Day 2018. 

"I would say it is your first command decision".
http://www.voyager.cz/tng/epizody/034matterofhonortrans.html


Oddly, one of the things that made me reluctant to bail early was the fact that I'm the OP of this thread.

Congrats!  So one less year then? :0 )

OLY, seems pretty scary now that it is on the Internet, where everything is true :-)

TartanTallulah

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Re: 2019 fire cohort
« Reply #343 on: August 07, 2017, 10:18:42 AM »
I made a command decision this summer. No more working summers. So I'll bail out of the job before Memorial Day 2018. 

"I would say it is your first command decision".
http://www.voyager.cz/tng/epizody/034matterofhonortrans.html


Oddly, one of the things that made me reluctant to bail early was the fact that I'm the OP of this thread.

Well, isn't that fabulous :-) Congratulations on a wise decision; I'm assuming the math allows it.

This is the third consecutive summer that I've "lost" due to exceptional circumstances at work, and it sucks. I'm not all that young and I don't have many summers left. I haven't written off the possibility of handing in my notice in time to be able to call the shots regarding how much work I do next summer. I could earn enough, on a flexible freelance basis, to keep me ticking over to my planned retirement date.



Itchyfeet

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Re: 2019 fire cohort
« Reply #344 on: August 07, 2017, 11:39:47 AM »
Nice work Mark.

I am on an emotional roller coaster considering everything between OLY (finishing up June next year) and 5MYs 😬.

It's taken me more than 20 years hard work to get my way into a fairly high paying job. Seems a bit ludicrous to just walk away and not take the opportunity to pad the stash and also to create the opportunity to financially help out some family members.. (I have only been earning the big bucks for the past 3 years, and ill still only be 50 if I work 5 more years. Health is good for now - 50 seems young to me).

..... on the other hand it seems equally ludicrous to work longer than necessary when I have such a long list of things I'd like to be doing....... in the next 5 years 😁

Decision to be made at XMas.

markbike528CBX

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Re: 2019 fire cohort
« Reply #345 on: August 07, 2017, 04:59:25 PM »

Well, isn't that fabulous :-) Congratulations on a wise decision; I'm assuming the math allows it.

This is the third consecutive summer that I've "lost" due to exceptional circumstances at work, and it sucks.

40x comfortable, 30x basic expenses ( with extra taxes and slack)

I didnt want to become TartanTallulah. :-) three years!

Pylortes

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Re: 2019 fire cohort
« Reply #346 on: August 07, 2017, 10:44:47 PM »
I made a command decision this summer. No more working summers. So I'll bail out of the job before Memorial Day 2018. 

"I would say it is your first command decision".
http://www.voyager.cz/tng/epizody/034matterofhonortrans.html


Oddly, one of the things that made me reluctant to bail early was the fact that I'm the OP of this thread.

Wait, the OP of the 2019 thread is bailing for the 2018 thread?  This is a major coup for the 2018 group and must leave a bitter taste in the mouths of the 19ers!  It's sort of like that time Brett Favre left Green Bay and played for the Vikings.

Linda_Norway

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Re: 2019 fire cohort
« Reply #347 on: August 08, 2017, 02:57:12 AM »
I made a command decision this summer. No more working summers. So I'll bail out of the job before Memorial Day 2018. 

"I would say it is your first command decision".
http://www.voyager.cz/tng/epizody/034matterofhonortrans.html


Oddly, one of the things that made me reluctant to bail early was the fact that I'm the OP of this thread.

Well, isn't that fabulous :-) Congratulations on a wise decision; I'm assuming the math allows it.

This is the third consecutive summer that I've "lost" due to exceptional circumstances at work, and it sucks. I'm not all that young and I don't have many summers left. I haven't written off the possibility of handing in my notice in time to be able to call the shots regarding how much work I do next summer. I could earn enough, on a flexible freelance basis, to keep me ticking over to my planned retirement date.

Yes, we lose too much through work. Last year I lost my autumn vacation because of an extremely stressful situation at work. And my approved conference visit was cancelled because of a delayed software release.

I have also at times wanted to stay at my vacation address a few days longer, for example when the snow and the weather are great. But there is always work to go back to.

My DH recently talked to an old colleague of his, who is an old age pensioner, but still works part time. This man told my DH that he never worked during summer anymore. I think this could be our first step into part time FIRE. Just taking the summers off. I hope my work will also allow for it, although I think they might be sceptical. I hope I can do some contracting work for them, as they are so conveniently close to where I live.

TartanTallulah

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Re: 2019 fire cohort
« Reply #348 on: August 08, 2017, 04:07:58 AM »

I didnt want to become TartanTallulah. :-) three years!

It's not as bad as it sounds. I have no great desire to go away in the summer now that my children have all finished school. In previous summers I've worked civilised hours - no more than three days most weeks - and been able to squeeze a lot of outdoor activities into my days off. The last couple of years I've worked four or five long days every week during the summer and have been too tired to get much done on my days off. Still, I get paid for what I do, last year's overtime bonus covered the cost of a new car for DH, and if I save this year's overtime bonus I'll have the option of bringing my retirement date forward by several months.

It suits me to save my vacation entitlement for the winter months and fly off to sunny places. But I'd like to have the summers to spend exploring my own country, visiting friends and family, going to sporting and cultural events and making last minute travel decisions based on the weather and invitations.


Yes, we lose too much through work. Last year I lost my autumn vacation because of an extremely stressful situation at work. And my approved conference visit was cancelled because of a delayed software release.

I have also at times wanted to stay at my vacation address a few days longer, for example when the snow and the weather are great. But there is always work to go back to.

My DH recently talked to an old colleague of his, who is an old age pensioner, but still works part time. This man told my DH that he never worked during summer anymore. I think this could be our first step into part time FIRE. Just taking the summers off. I hope my work will also allow for it, although I think they might be sceptical. I hope I can do some contracting work for them, as they are so conveniently close to where I live.

I like the idea of choosing which part of the year to work. Part of me thinks, "I could augment my FIRE income by offering to work two or three days a week when needed to provide vacation cover, just in my current workplace." But I know what would happen, because I've been implanted with a deep subconscious belief system that massively overvalues work. Within a very short time, I'd be agreeing to do a day extra here and there for this reason and that reason because I find it difficult to turn work down, and other local businesses would approach me with sob stories and generous offers (this isn't because I'm especially gifted at what I do, but I'm reliable, cheerful, and competent enough, and there's a skill shortage where I live), and in no time at all I'd be working more as a retired person than I am now.

It would be safer for me to give my career a hug and thank it for the joy it has brought me, then send it off to landfill and never think about it again.




cerat0n1a

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Re: 2019 fire cohort
« Reply #349 on: August 08, 2017, 05:49:50 AM »
I made a command decision this summer. No more working summers. So I'll bail out of the job before Memorial Day 2018. 

"I would say it is your first command decision".
http://www.voyager.cz/tng/epizody/034matterofhonortrans.html


Oddly, one of the things that made me reluctant to bail early was the fact that I'm the OP of this thread.

Wait, the OP of the 2019 thread is bailing for the 2018 thread?  This is a major coup for the 2018 group and must leave a bitter taste in the mouths of the 19ers!  It's sort of like that time Brett Favre left Green Bay and played for the Vikings.

I think I'm also going to bail for the 2018 thread. Original 2019 date was based on waiting for youngest son going to university rather than financial reasons. Having had a semi-empty nest for a while, I now think that there's no need to wait for a fully empty nest and summer 2018 should be my target (exact finish date unknown because I don't know whether or not the 3 months notice specified in my employment contract would actually be enforced.)