Author Topic: 2019 fire cohort  (Read 116786 times)

VoteCthulu

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Re: 2019 fire cohort
« Reply #550 on: February 15, 2018, 08:06:32 AM »
Exactly right, Eric. I mean, most here would probably call me a pussy,  ...

I want to say something here about the relative durability of vaginas versus the fragility of male organs, some kind of Betty White paraphrasing, but maybe we'll just all acknowledge that vaginas are actually pretty tough and we shouldn't equate with weakness in our metaphors just because we think women are the weaker sex.

Toque.
I assume they were using the word in its "timid/passive" definition instead of referring to a vagina.

Trifele

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Re: 2019 fire cohort
« Reply #551 on: February 15, 2018, 11:13:02 AM »
Exactly right, Eric. I mean, most here would probably call me a pussy,  ...

I want to say something here about the relative durability of vaginas versus the fragility of male organs, some kind of Betty White paraphrasing, but maybe we'll just all acknowledge that vaginas are actually pretty tough and we shouldn't equate with weakness in our metaphors just because we think women are the weaker sex.

Toque.

Yeah, I have to say I read that comment the same way as Mr. Frugal Toque. . .  I know you were talking about yourself, @dude, and not someone else, but 'pussy' sounds like equating women with weakness.   

Pylortes

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Re: 2019 fire cohort
« Reply #552 on: February 15, 2018, 12:03:06 PM »
I’m joining up with this group, reclassifying from 2018 after my spouses career plans changed.  I will be targeting late May of 2019, when I will be 42!  https://www.google.com/amp/www.independent.co.uk/life-style/history/42-the-answer-to-life-the-universe-and-everything-2205734.html%3famp

Livingthedream55

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Re: 2019 fire cohort
« Reply #553 on: February 16, 2018, 07:45:12 AM »
I’m joining up with this group, reclassifying from 2018 after my spouses career plans changed.  I will be targeting late May of 2019, when I will be 42!  https://www.google.com/amp/www.independent.co.uk/life-style/history/42-the-answer-to-life-the-universe-and-everything-2205734.html%3famp

Welcome Pylortes! I'm aiming for May also! FIREing at 42 is badass indeed! : 0 )



itchyfeet

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Re: 2019 fire cohort
« Reply #554 on: February 19, 2018, 01:50:32 PM »
So, I had my annual performance interview today.

I hate annual performance interviews, even though over the course of my career I have never had a manager who was not mostly happy, or extremely happy, with my work. This year was much the same. “Good year itchy feet! Well done. What objectives are you setting yourself for the coming year?”

But, I have to say that knowing that was the final API of my career, is frigging awesome. They suck.

So, in terms of FIRE date it’s now decided that we won’t be hanging around till Feb next year, but will wrap things up in December, or possibly Jan if MegaCorp begs me to stay to close out the 2019 results. I’ll stay in this cohort regardless.

Eric

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Re: 2019 fire cohort
« Reply #555 on: February 20, 2018, 04:43:49 PM »
So, I had my annual performance interview today.

I hate annual performance interviews, even though over the course of my career I have never had a manager who was not mostly happy, or extremely happy, with my work. This year was much the same. “Good year itchy feet! Well done. What objectives are you setting yourself for the coming year?”

But, I have to say that knowing that was the final API of my career, is frigging awesome. They suck.

So, in terms of FIRE date it’s now decided that we won’t be hanging around till Feb next year, but will wrap things up in December, or possibly Jan if MegaCorp begs me to stay to close out the 2019 results. I’ll stay in this cohort regardless.

Hahahaha.  I'm currently in the process of writing my self-review, which of course I loathe.  It's just so painful to come up with new things, year after year.  So instead of finishing it, I'm surfing the forums instead, hoping it will just go away.  Soon enough I guess, soon enough.

I'm not sure if this will be the last one or not, but it's likely the last one where I have to pretend that I'm not quitting soon.

"what are your 5 year goals?"

"trust me, you don't want to know"
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2Birds1Stone

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Re: 2019 fire cohort
« Reply #556 on: February 21, 2018, 08:07:24 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.

Canadian Ben

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Re: 2019 fire cohort
« Reply #557 on: February 21, 2018, 10:29:28 AM »
I recommend the rarely seen "gap decade" for 2020.

I will attempt the gap bi-centennial. I'll promise the military I'll come back in 50 years.

2Birds1Stone

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Re: 2019 fire cohort
« Reply #558 on: February 21, 2018, 11:11:40 AM »
I recommend the rarely seen "gap decade" for 2020.

I will attempt the gap bi-centennial. I'll promise the military I'll come back in 50 years.

Gap decade sounds awesome, but going back to work in mid 40's does not =(

itchyfeet

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Re: 2019 fire cohort
« Reply #559 on: February 28, 2018, 02:52:06 AM »
Woop woop, another month comes to a close. 10 more months remaining and I am done. 7 more months until I had in my notice. This time will go fast no doubt.

February was a little exciting with share markets more volatile than in recent times, but in the end a lot of noise and not much else.

My net worth growth continued to creep upwards, very slowly.

Growth is being hampered by declining property values in Sydney (another $12K AUD in Feb alone) and a flat Aussie share market.

During Feb the carrying value of international shares was helped by a softening AUD. The FX gain offset the underlying share value losses. Without this positive FX impact the results for Feb would have shown a small net worth decline rather than a small net worth increase.

My saving rate for Feb was also a little lower than Id like at 45% (We are targeting >50% for the year) due to some maintenance costs to one of our rental properties and agents fees I incurred to find a new tenant. Thankfully I was able to secure a new tenant with just a 1 week vacancy between tenants.

Our FIRE multiple is now 21.4x, compared to 21.3x last month. Not exactly making big moves haha.

We wont be at 25x when we FIRE in December (never hoped to be), maybe 23x-24x, but expect to earn some casual income post FIRE. We could also always reduce our planned spending easily enough if need be.

Trifele

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Re: 2019 fire cohort
« Reply #560 on: February 28, 2018, 03:47:49 AM »
So glad to see February end!  It's been a rough month at work, with office politics and other nonsense that will make it oh-so-easy to say goodbye.

Speaking of goodbye, I was originally down for August 1 of next year, but have decided to pull the plug earlier.  I'm now planning to hand in my notice beginning of January for an April 1 departure.  Very excited that this will be the last spring I have to spend indoors chained to a desk.     

Livingthedream55

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Re: 2019 fire cohort
« Reply #561 on: February 28, 2018, 06:35:12 AM »
So glad to see February end!  It's been a rough month at work, with office politics and other nonsense that will make it oh-so-easy to say goodbye.

Speaking of goodbye, I was originally down for August 1 of next year, but have decided to pull the plug earlier.  I'm now planning to hand in my notice beginning of January for an April 1 departure.  Very excited that this will be the last spring I have to spend indoors chained to a desk.   

Sweet! It's always great to hear when folks can get out sooner than planned! 

My motivation at work is really dropping! I am planning mini short getaways (inexpensive, mostly within driving distance) every few months just to keep myself going to the finish line.



Trifele

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Re: 2019 fire cohort
« Reply #562 on: February 28, 2018, 06:45:46 AM »
So glad to see February end!  It's been a rough month at work, with office politics and other nonsense that will make it oh-so-easy to say goodbye.

Speaking of goodbye, I was originally down for August 1 of next year, but have decided to pull the plug earlier.  I'm now planning to hand in my notice beginning of January for an April 1 departure.  Very excited that this will be the last spring I have to spend indoors chained to a desk.   

Sweet! It's always great to hear when folks can get out sooner than planned! 

My motivation at work is really dropping! I am planning mini short getaways (inexpensive, mostly within driving distance) every few months just to keep myself going to the finish line.

I hear you, LTD.  I am also going to have to do a mini-vacay every few months, just to keep going.  This last bit to the finish line is tough.  I would leave sooner (2018), but I have decided to hold on for my bonus, which is paid out in December.  My 401k employer contributions also vest in December, so another good reason to stay put til then. 
« Last Edit: March 09, 2018, 09:43:12 AM by Trifele »

itchyfeet

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Re: 2019 fire cohort
« Reply #563 on: February 28, 2018, 07:40:42 AM »
+1 for lots of holidays this year

Bateaux

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Re: 2019 fire cohort
« Reply #564 on: February 28, 2018, 09:06:52 PM »
Don't take me off the 2019 list yet.  Looking more like 2020 though.  Time will tell.  Watching over 100k of value disappear in a few days spooked me.  Still a long way from where we were at the top.  Rising interest rates are killing my bond fund as well. 
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Trifele

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Re: 2019 fire cohort
« Reply #565 on: March 01, 2018, 07:33:10 AM »
Hello March!  10 months til I give notice. 

itchyfeet

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Re: 2019 fire cohort
« Reply #566 on: March 01, 2018, 08:20:42 AM »
Don't take me off the 2019 list yet.  Looking more like 2020 though.  Time will tell.  Watching over 100k of value disappear in a few days spooked me.  Still a long way from where we were at the top.  Rising interest rates are killing my bond fund as well.

Yes, the S&P500 is not back at the top, but it is back to where it was at 1 January this year. With dividends included, returns are in the black this year. Already!

After a 21%+ total return last year from the S&P500 I am stoked to be in the black.

With the global economy looking strong I am far from spooked. Bring on 2019 baby!!!!

2020 is a long long long way away. You will see this and join your comrades in freedom in 2019. 🤣

((Disclaimer: my tough words may later not be matched by quite as tough actions 😬. It’s just lucky DW is determined to press eject at the end of this year, or my knees might wobble too).


TartanTallulah

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Re: 2019 fire cohort
« Reply #567 on: March 01, 2018, 10:29:47 AM »
Thirteen paychecks to go, tra la la :-) Although a lot can happen in thirteen months.

I'm mostly at peace with having had to scurry back here after my optimistic flirtation with the idea of 2019, to the extent that although I've discovered that I can quit this year after all, I don't expect to, and am even thinking that if I can resolve a few problems with my present job (in particular, the long working days, for which I'm far too old now) I may be able to hold out till 2021, when my professional licence would come up for renewal.

Knowing that I now have executive control over when I pull the plug means that I'm not scared of burning out and my inner workaholic is on the rampage. I'll enjoy it while it lasts.



dude

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Re: 2019 fire cohort
« Reply #568 on: March 01, 2018, 01:09:42 PM »
Exactly right, Eric. I mean, most here would probably call me a pussy,  ...

I want to say something here about the relative durability of vaginas versus the fragility of male organs, some kind of Betty White paraphrasing, but maybe we'll just all acknowledge that vaginas are actually pretty tough and we shouldn't equate with weakness in our metaphors just because we think women are the weaker sex.

Toque.

Yeah, I have to say I read that comment the same way as Mr. Frugal Toque. . .  I know you were talking about yourself, @dude, and not someone else, but 'pussy' sounds like equating women with weakness.   

Aw geez guys, c'mon!  Can we not make this a PC (and I generally hate that term) issue? Webster's defines "pussycat" as "2. one that is weak, compliant or amiable: SOFTY". This has been shortened in our everyday language (for as long as I've been alive) to "pussy."  That is the general term as everyone knows it and uses it, at least in the circles I've traveled in all my life.

dude

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Re: 2019 fire cohort
« Reply #569 on: March 01, 2018, 01:14:06 PM »
Don't take me off the 2019 list yet.  Looking more like 2020 though.  Time will tell.  Watching over 100k of value disappear in a few days spooked me.  Still a long way from where we were at the top.  Rising interest rates are killing my bond fund as well.

Yes, the S&P500 is not back at the top, but it is back to where it was at 1 January this year. With dividends included, returns are in the black this year. Already!

After a 21%+ total return last year from the S&P500 I am stoked to be in the black. 


Maybe not after today . . .

Bateaux

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Re: 2019 fire cohort
« Reply #570 on: March 01, 2018, 01:33:00 PM »
Don't take me off the 2019 list yet.  Looking more like 2020 though.  Time will tell.  Watching over 100k of value disappear in a few days spooked me.  Still a long way from where we were at the top.  Rising interest rates are killing my bond fund as well.

Yes, the S&P500 is not back at the top, but it is back to where it was at 1 January this year. With dividends included, returns are in the black this year. Already!

After a 21%+ total return last year from the S&P500 I am stoked to be in the black. 


Maybe not after today . . .

Don't get me wrong guys.  One of my greatest desires is to quit, load up my bicycle and go on a 1000 mile tour.   It's just the money pump is going full stream and there are a few issues that just OMY could solve.  I mentally need to see 2 million in my Mint account.  We were within 31K at the top.  Glad to have you guys when I'm a nervous Nelly.
“Perfection is achieved, not when there is nothing more to add, but when there is nothing left to take away.”
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2Birds1Stone

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Re: 2019 fire cohort
« Reply #571 on: March 01, 2018, 01:59:26 PM »
Might be a long time before that happens in a bear market.

VoteCthulu

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Re: 2019 fire cohort
« Reply #572 on: March 01, 2018, 02:19:01 PM »
It's another 18 months for me, which still seems like a long ways off. Maybe when it gets to 12 or 9 months it will feel a lot more imminent.

I have recently been considering reducing my 401k contributions in order to build up my taxable accounts faster, but mathematically it's the same as paying the early withdrawal penalty, so I haven't made any changes yet.

MoMan

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Re: 2019 fire cohort
« Reply #573 on: March 02, 2018, 10:55:50 AM »
For some reason, I stopped getting notifications about new posts to this thread.

At any rate, here is my own updated situation, posted because it's a slow Friday for me and I have another 6 unproductive hours to kill. So I will share my own good news to inspire you (or piss you off)!

My assets have been rocking it! Well, up until February. Last year my combined balances increased by about $200k. That includes contributions, which were probably around 25k. Damn! So when we hit the pothole in February, it didn't really bother me that much to see that my balance dropped by $70k in a week. Plus, much of that has already recovered.

One year ago, I got a very welcome change in my office reporting structure: My new boss is pretty cool and calm. I was really fed up with the incompetent corporate cheerleader I had been reporting to for the previous 9 years. Ugh. I can't believe he hasn't been fired, but he did get a bit of a demotion (not that he even realizes it!!). Plus, he and another perpetual victim colleague now have to deal with another person I can't stand. Bonus! So that aspect of life has improved.

Another work improvement has been compliments of Hurricane Harvey. The storm completely flooded the corporate campus. The basements of multiple buildings flooded with water, so we were all forced to work remotely from home for a few months. We And our group was held up as a model for business continuity. As a result, we proved that we can effectively work from home so management is allowing us to work from home up to 2 days a week.

And my wife is liking my FIRE preparations. I walk to the grocery store constantly. Last week, I pulled a child's wagon to pick up the ingredients for my breakfast burritos. And I ride bike to the hardware stores, etc. Love my staycations! My backyard/garage workshop is my favorite place in the whole world.

Still, I'm just over 19 months out. Gotta gut it out to qualify for the MegaCorp retiree health plan, which becomes available upon age 55. It seems to get tougher the closer I get, but as I look back, the time is really moving fast.

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

VoteCthulu

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Re: 2019 fire cohort
« Reply #574 on: March 02, 2018, 03:24:01 PM »
Another work improvement has been compliments of Hurricane Harvey. The storm completely flooded the corporate campus. The basements of multiple buildings flooded with water, so we were all forced to work remotely from home for a few months. We And our group was held up as a model for business continuity. As a result, we proved that we can effectively work from home so management is allowing us to work from home up to 2 days a week.
You might just work for the Houston branch of the same MegaCorp I work for. I still have the memo from our group executive vice president extolling hard work of our 2,100 Houston colleagues who pulled together after the storm.

I remember hoping my building would close for a few months so I could work from home too, although without the widespread destruction and loss of life.

MoMan

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Re: 2019 fire cohort
« Reply #575 on: March 03, 2018, 05:42:19 AM »
I still have the memo from our group executive vice president extolling hard work of our 2,100 Houston colleagues who pulled together after the storm.

I may have written that memo. I'm not the exec but I write some communications for various execs and worked on some post-harvey emails.
"He is richest who is contented, for content is the wealth of nature."

exit2019

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Re: 2019 fire cohort
« Reply #576 on: March 11, 2018, 07:23:20 PM »
I'm joining the 2019 cohort.  Even though, to be honest, I am terrified by the current market and housing valuations.  World feels a lot like 1/1/2000 right now..

itchyfeet

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Re: 2019 fire cohort
« Reply #577 on: March 11, 2018, 08:56:08 PM »
Weilcome aboard.

It’s certainly easy to fear the worst and get all doomsdayish, and it’s good to at least think through the what if’s. But I am sure that if the worst happens, and you have to implement your contingency plans, you will adapt and things will work out ok. Just by being here you are ahead of 80% this of your peers. Congratulations.

Eric

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Re: 2019 fire cohort
« Reply #578 on: March 12, 2018, 05:00:19 PM »
I'm joining the 2019 cohort.  Even though, to be honest, I am terrified by the current market and housing valuations.  World feels a lot like 1/1/2000 right now..

Can't comment on housing, as I live in Silicon Valley and housing valuations have been cuckoo forever, but stock valuations would need to increase 33% without any corresponding earnings increase to equal 2000.  (CAPE of 44 vs 33 currently).  Plus interest rates are lower now and companies just received a large handout tax cut.  I think we have some ways to go before any 2000 type scenarios.  Granted, I wouldn't expect outsized returns in the near-ish future, but it's easy enough to deal with that.  Save more, add bonds, be willing to cut some spending, etc.  Whatever you do, don't join the 2020 group instead.  They're a bunch of losers.  :)
"Compound interest is the most powerful force in the universe."  -- Einstein

exit2019

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Re: 2019 fire cohort
« Reply #579 on: March 12, 2018, 11:13:38 PM »
I am also in the Valley; house in the peninsula that I plan to sell this year as part of bailing from this place.  But being 30+% below the peak really isn't very reassuring given the current CAPE.  Good luck to all of us I guess.

PhilB

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Re: 2019 fire cohort
« Reply #580 on: March 13, 2018, 02:25:45 AM »
Whatever you do, don't join the 2020 group instead.  They're a bunch of losers.  :)
It was okay when Eric told me off for posting in this thread after I defected to 2018, but now I'm getting worried.  Next thing we know he'll be slapping a 25% duty on bacon memes imported from the 'Top is in' thread  ;o)

Eric

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Re: 2019 fire cohort
« Reply #581 on: March 13, 2018, 11:04:09 AM »
Whatever you do, don't join the 2020 group instead.  They're a bunch of losers.  :)
It was okay when Eric told me off for posting in this thread after I defected to 2018, but now I'm getting worried.  Next thing we know he'll be slapping a 25% duty on bacon memes imported from the 'Top is in' thread  ;o)

Don't make me fire up the Twitter on you!
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Bateaux

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Re: 2019 fire cohort
« Reply #582 on: March 15, 2018, 05:26:23 AM »
Don't take me off the 2019 list yet.  Looking more like 2020 though.  Time will tell.  Watching over 100k of value disappear in a few days spooked me.  Still a long way from where we were at the top.  Rising interest rates are killing my bond fund as well.

I guess it's time to leave the 2019 list.  I have no confidence that my savings will cover my future expenses at this point.   Moving to class of 2020 as of now.  Maybe as far out as 2023.  Good luck to you all.
“Perfection is achieved, not when there is nothing more to add, but when there is nothing left to take away.”
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itchyfeet

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Re: 2019 fire cohort
« Reply #583 on: March 15, 2018, 07:08:47 AM »
Don't take me off the 2019 list yet.  Looking more like 2020 though.  Time will tell.  Watching over 100k of value disappear in a few days spooked me.  Still a long way from where we were at the top.  Rising interest rates are killing my bond fund as well.

I guess it's time to leave the 2019 list.  I have no confidence that my savings will cover my future expenses at this point.   Moving to class of 2020 as of now.  Maybe as far out as 2023.  Good luck to you all.

I guess you will also leave the $2-3m race between now and FIRE. Leaving all your friends munching on your dust......

Bateaux

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Re: 2019 fire cohort
« Reply #584 on: March 15, 2018, 11:02:06 AM »
Don't take me off the 2019 list yet.  Looking more like 2020 though.  Time will tell.  Watching over 100k of value disappear in a few days spooked me.  Still a long way from where we were at the top.  Rising interest rates are killing my bond fund as well.

I guess it's time to leave the 2019 list.  I have no confidence that my savings will cover my future expenses at this point.   Moving to class of 2020 as of now.  Maybe as far out as 2023.  Good luck to you all.

I guess you will also leave the $2-3m race between now and FIRE. Leaving all your friends munching on your dust......

Haven't quite crested 2 million yet.   Came within 31k one day and then the tumbles came.  We're about 1.95M right now.   A week of good runs maybe woukd push us over.  Getting to 3M or beyond will take some market cooperation.   It's mainly about health care costs inflation.   To lock in company benefits I'd have to work till 55 in 2023.  Don't worry I'll be around for a while yet.
“Perfection is achieved, not when there is nothing more to add, but when there is nothing left to take away.”
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TartanTallulah

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Re: 2019 fire cohort
« Reply #585 on: March 16, 2018, 06:10:42 AM »
I've just had my last-ever annual review ... except it may not be my last ever, because it would make sense to do one more immediately before I retire at the end of March 2019. I'm planning to maintain my professional registration for 12 months after retiring rather than burning that bridge, just in case the job stops being shit as soon as I've left and I decide I want to go back in some sort of part time role. Because once upon a time it wasn't shit, and the fundamentals of the job aren't shit.

We also had a meeting about the future of the organisation last week. It was reassuringly positive, but I don't think there's any risk of either a payoff or an offer of golden handcuffs.

Next year is going to be challenging and I suspect I'll be glad when it's over and I can whisper the word "sabbatical", slip away without any hoohah, and never be seen again.




DreamFIRE

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Re: 2019 fire cohort
« Reply #586 on: March 17, 2018, 08:34:46 PM »
I hadn't posted to this thread before, but I'm firmly in the 2019 camp for now.

June 1, 2019 is my estimated last day of full time work.

Single - no kids

Stache:

Based on my current expenses, for barebones, my stash is at 81X
Based on my expected barebones during FIRE, my stash is at 63X
Based on my desired fun & travel FIRE budget, my stash is at 25X

The big difference between pre-FIRE 81X and FIRE 63X is dental & ACA healthcare coverage costs
But the reduction to 25X after adding fun/travel gives me some serious room to scale back on expenses if needed and lower my WR from 4% to at low as 1.6%.

If ACA goes away, I'll have to re-think everything.  By my expected FIRE date, the mid-term elections will be in the past.

I don't know if it will be an option for me, and I wouldn't approach the topic with my company until the time comes, but I hope I can stay on part time for 1 year at 3 days per week, which will allow me to retain existing dental/healthcare benefits, vacation days, and retirement plan contributions.

I would also consider working 1 or 2 days per week, despite losing the benefits just mentioned.  The hourly pay rate is high enough that a single work day each week is enough to pay 75% of my FIRE barebones.

If either of those is an option, I might not do it for more than a year.  I'm also considering slow travel and relocating a year or so after I FIRE when I'm able to sell my house, so I wouldn't be able to work even part time at my current employer by that point.  Any relocation I might do should not make a significant impact on my budget.  I'm in a LCOL area, and I wouldn't move to a HCOL area.

Aside from the ACA concerns, the only other reason I consider OMY until 2020 is because I'm running in the 70% to 80% saving rate range, and it will amount to about $90,000 net more in stash value in June 2020 due to additional savings by FIREing in 2020 vs. spending from stash by FIREing in 2019.   I like my job.  No cubicle - I have my own office, it's stress free, it's interesting, lots of downtime.  So, OMY isn't bad from the job prospective, but the extra $90,000 isn't a necessity.  So for now, I'm setting up camp as a 2019 FIRE cohort.

Edit:  I'm not factoring any investment growth/gains/losses into the $90,000 figure.  It's just a difference in additional funds added by FIREing in 2020 vs. funds being withdrawn by FIREing in 2019.

Barebones for me includes paying all the current bills and includes expenses that may be unusually high some years like home maintenance costs, car maintenance, etc. by taking expected longer term expenses and dividing the cost out over many months.
« Last Edit: March 18, 2018, 11:38:50 AM by DreamFIRE »

2Birds1Stone

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Re: 2019 fire cohort
« Reply #587 on: March 18, 2018, 09:04:15 AM »
Sounds like a very good plan DreamFIRE.

What % of your current portfolio does $90k represent? If it will make a significant improvement to your quality of life/security then I would consider it given the "low stress" job.

For someone with $2M+ it might not make a huge difference, for me ~$375k it would be HUGE.

DreamFIRE

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Re: 2019 fire cohort
« Reply #588 on: March 18, 2018, 11:38:23 AM »
Thanks.  I'm somewhere in between.  My stash is over $1.2M, so $90K is about 7% of my stash.  As long as decent ACA plans are available with the current law, I would say that the $90K would not provide a significant improvement in my quality of life or security, plus I'm a little older, so it's not as easy to give up an extra year of retirement now as it it would be if I was 30, even though it would still be earlier than about anyone else I work with.  If ACA doesn't stick around, then that will tighten things up quite a bit, although it may still work out by significantly cutting the fun/travel budget.  Even the $90K wouldn't bridge that gap.
« Last Edit: March 23, 2018, 03:27:12 PM by DreamFIRE »

2Birds1Stone

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Re: 2019 fire cohort
« Reply #589 on: March 18, 2018, 07:04:24 PM »
Thanks.  I'm somewhere in between.  My stash is over $1.2M, so $90K is about 7% of my stash.  As long as decent ACA plans are available with the current law, I would say that the $90K would not provide a significant improvement in my quality of life or security, plus I'm 20 years older, so it's not as easy to give up an extra year of retirement now as it it would be if I was 30, even though it would still be earlier than about anyone else I work with.  If ACA doesn't stick around, then that will tighten things up quite a bit, although it may still work out by significantly cutting the fun/travel budget.  Even the $90K wouldn't bridge that gap.

No doubt about it! My current threshold is 10%, meaning if I can't increase my portfolio by at least 10% by working an entire 12 months at full time, then the job isn't worth it.

Right now that's only ~$37k, and I can add ~$48k so I keep working, but once I cross that 10% threshold...... the choice becomes one of more substance.

PhilB

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Re: 2019 fire cohort
« Reply #590 on: March 19, 2018, 05:18:45 AM »
Thanks.  I'm somewhere in between.  My stash is over $1.2M, so $90K is about 7% of my stash.  As long as decent ACA plans are available with the current law, I would say that the $90K would not provide a significant improvement in my quality of life or security, plus I'm 20 years older, so it's not as easy to give up an extra year of retirement now as it it would be if I was 30, even though it would still be earlier than about anyone else I work with.  If ACA doesn't stick around, then that will tighten things up quite a bit, although it may still work out by significantly cutting the fun/travel budget.  Even the $90K wouldn't bridge that gap.

No doubt about it! My current threshold is 10%, meaning if I can't increase my portfolio by at least 10% by working an entire 12 months at full time, then the job isn't worth it.

Right now that's only ~$37k, and I can add ~$48k so I keep working, but once I cross that 10% threshold...... the choice becomes one of more substance.
This strikes a chord - the hours I've spent agonising over these decisions!  I planned to do 3 more years beyond the 10% threshold and thought, at the time, that was a reasonable compromise.  I've now cut that by 8 months (which is why I shouldn't be posting here any more!) and even so it's probably going to be longer than was really sensible.  At 51 I can see that the number of 'good years' I've got left is shrinking rapidly and the ability to inflate my lifestyle if I wanted to no longer seems like a reasonable trade for them.

itchyfeet

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Re: 2019 fire cohort
« Reply #591 on: March 19, 2018, 11:05:57 AM »
I hear you! I am just a couple of years younger than you and the balance between inflating the lifestyle further versus getting on with things I’d rather be doing is a delicate one.

I certainly don’t have a clear answer in my mind, but will take the plunge into FIRE, knowing that it’s quite possible I might get another job a year later. Who knows??

Part of my thinking is that if I can set aside a little greed, the payoff in freedom and the ability to do what is really want to be doing is a big payoff. It’s worth testing.

If ultimately (say 6 months to a year post FIRE) I am not happy buying a cheaper house, driving a cheap car, flying economy class and having a slightly limited budget for travel and entertainment, then I’ll go back to work.

I don’t know the answers to this today, but I do feel it’s easier to maintain the status quo.

Continuing to work is an easier choice than FIREing, and this makes it seem a better choice. But I suspect if I was FIREd today, then staying FIREd would be the easier option and would
Likely seem to be the better choice. I can imagine that deciding to go back to work once FIREd will be a difficult decision that one would prob try to avoid, even if it meant tightening the belt a little.

DreamFIRE

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Re: 2019 fire cohort
« Reply #592 on: March 19, 2018, 09:44:59 PM »


I'm planning to keep my lifestyle pretty much the same when I FIRE as far as material items... keep driving my car, keep living in my paid-for house, and limit spending on unnecessary consumer goods. Even if I relocate, I'll will try to keep my total housing costs in the same ballpark that I'm paying now, although it may even be a step back in square footage to pull that off since I'm in a LCOL area with a fairly large house.  The difference with my FIRE plan is in my entertainment and travel budget, which has been very low in recent years, and I plan to really step it up for FIRE when I'll actually have the free time to take advantage of it.  That's also an easy area to back off spending if I feel the need to reduce my WR rate later on or need to re-allocate funds to something else which may be unforeseen.  I might be able to stay on part time for another year beginning in 2019, but once I fully stop working, I don't want to feel a financial need to ever work again.

I can't really put a % threshold on the additional earnings and whether it justifies working OMY.  There are just too many other factors, like how the job is going in another year, whether I'm emotionally ready to pull the FIRE trigger at the time, whether I'm confident next year that the ACA (or something as good) will be around for another decade, and the state of my investments and the economy in general after another year.  It's not about inflating my lifestyle any further over my current FIRE plans, but it's more about holding on to the current dream and also realizing that $90K would ease at least some of the pain of higher health care coverage costs if things were to fall apart with the ACA rather than robbing the additional healthcare costs from my vacation/entertainment budget.  I'm certainly hopeful, so June 1, 2019 is my date for now.

sui generis

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Re: 2019 fire cohort
« Reply #593 on: March 20, 2018, 07:57:37 PM »
Hello my people!  I've been lurking for a while but my patience at work is wearing thin and there are so few people IRL that I can talk to about this.

I'm 40 and my last day of work is going to be around 2/15/19.  I need to have my 2018 bonus in my bank account before I give notice and then I'm out ASAP.  I've never...quite taken to the "job" thing. And it seems to get more and more unpleasant with each career and job I try.  So I decided I should stop trying to do it!

As of today I am very close to 28.57x standard expenses (for the 3.5% w/d rate) and if all goes smoothly I'll be at almost 33x/3% w/d of Fat FIRE (if I'm using that term correctly) by the time I leave, but I'm perfectly happy at 30x/3.33% or even a little less, maybe.  My expenses also still include a large category for charity, which I'd like to continue doing at the same levels, but is certainly part of my extra cushion if need-be.  So I don't think anything will stop me (numbers-wise) from my date, but I'd still appreciate it if the market would cooperate!

In the intervening time, my boyfriend and I are planning to get married.  He's the best and already FI himself but he loves his job (so weird!) and won't be leaving, even though every trip/trail I talk about doing after I RE, he wants to do too!  So, he's either gonna miss out on a lot or will end up retiring as well.  When we marry, we probably won't formally combine our finances, but I probably also won't actually do the Roth Conversion ladder for the last few years before 59.5 when I run out of taxable, as I would do if we didn't marry/if I was single.  But it's important to me that I do this "on my own" and am not retiring on his dime, so I'll be tracking it all the time.

I'm also going to use this time to get mentally ready to retire.  I had my first meeting with my "coach" last week and she and I are going to work on how I can think of myself/my identity without my career, how I can find the right balance between the continuing drive and societal pressure to be productive and accomplish lots of things and really slowing down life like I want to - because I am NOT FIRE-ing just to transplant expectations of a high-achieving career into a high-achieving retirement.  Also, given that I've never liked anything I've "done" as a job, I'm a little worried I won't like what I "do" when I'm retired either - you know just because I'm a dissatisfied person and I don't like doing anything (other than sleeping) more than like 5-10 hours per week.  I'm still really hoping I end up doing something (or several somethings) I actually really like, and just don't have to worry about getting paid for it.  So I'm hoping to get myself in a good place in that respect.

So the scary things for me in the next year: market (obvs) and being mentally prepared to go out and answer the question of whether or not I actually have a passion.

In the meantime, I have to go to coffee on Monday with my assigned "mentor" and he's wants to talk to me about my career path, so I'm going to have to lie through my teeth about how much I love it there and hopefully vaguely avoid making any commitments about the future.

P.S.  Somehow in my lurking I haven't yet found a list of acronyms - is there one somewhere?
« Last Edit: March 20, 2018, 08:06:03 PM by sui generis »

DreamFIRE

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Re: 2019 fire cohort
« Reply #594 on: March 20, 2018, 08:26:57 PM »
P.S.  Somehow in my lurking I haven't yet found a list of acronyms - is there one somewhere?
Welcome aboard!  To quickly answer your question, the FAQ thread links to this page for acronyms:

http://www.early-retirement.org/forums/f47/acronyms-and-slang-frequently-used-on-the-forum-34884.html

sui generis

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Re: 2019 fire cohort
« Reply #595 on: March 20, 2018, 08:47:55 PM »
P.S.  Somehow in my lurking I haven't yet found a list of acronyms - is there one somewhere?
Welcome aboard!  To quickly answer your question, the FAQ thread links to this page for acronyms:

http://www.early-retirement.org/forums/f47/acronyms-and-slang-frequently-used-on-the-forum-34884.html

TY!!

Trifele

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Re: 2019 fire cohort
« Reply #596 on: March 21, 2018, 05:30:59 AM »
We've got some major shit going on at work.  Suffice it to say that my final 12 months are not going to be the tough, boring slog I thought they were going to be.  It's going to be a hell of a lot more interesting (and bumpy) than that.  I'll know more in the next day or two.

itchyfeet

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Re: 2019 fire cohort
« Reply #597 on: March 21, 2018, 10:08:21 AM »
Just got paid my 2017 bonus.

Another bunch of nails in the coffin that is my career. Looking forward to putting it 6 feet under in January.
« Last Edit: March 21, 2018, 11:31:02 AM by itchyfeet »

markbike528CBX

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Re: 2019 fire cohort
« Reply #598 on: March 21, 2018, 10:24:35 AM »
Just got paid my 2017 bonus.

Another bunch on nails in the coffin that is my career. Looking forward to putting it 6 feet under in January.

We had a major layoff (35 to 13 people left) and were scheduled a "retention bonus" spread over 3 years.  Final payoff last May provided a kick to the mortgage.   I mentioned that the retention only lasted as long as the bonus and in fact accelerated non-retention.

Trifele

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Re: 2019 fire cohort
« Reply #599 on: March 22, 2018, 05:33:32 AM »
Found out that my company is being bought by MegaCorp!  We don't have many details yet, but they are aiming to close the deal in early fall. 

In all these years I've worked, I've never been through an acquisition/merger . . . Odd that it would happen in my final 12 months of working.  So I'm trying to imagine how this might go with my planned FIRE time frame, which was to give notice January 1, work til April 1, 2019.  Hopefully it won't hurt me too much financially, and depending on the exact timing of a layoff I guess it could work to my advantage, with possible severance/healthcare?

One negative thing I thought of is that up to 20% of our annual pay is a bonus paid at the end of the year, and I predict we can kiss that goodbye, even if MegaCorp keeps us on. 

Anyone been through this?  Words of wisdom appreciated.