Author Topic: 2019 fire cohort  (Read 116783 times)

2Birds1Stone

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Re: 2019 fire cohort
« Reply #600 on: March 22, 2018, 07:18:03 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.

We just bought a competitor last year and the employees being acquired received a retention bonus for staying on 12 months post acquisition, it might be a very good thing for you!

Trifele

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Re: 2019 fire cohort
« Reply #601 on: March 22, 2018, 07:59:03 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.

We just bought a competitor last year and the employees being acquired received a retention bonus for staying on 12 months post acquisition, it might be a very good thing for you!

Wow -- 12 months!  That would indeed be great, and would not disrupt a thing.  And if they did that, then I suppose it is possible they might even keep our current pay/bonus structure for a while as well, which would be good.  It's going to be an interesting year.  Thanks!

Eric

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Re: 2019 fire cohort
« Reply #602 on: March 23, 2018, 11:57:16 AM »
There's been a lot of turnover in my department lately.  As such, yesterday I was offered a promotion and more money.  This was done in an effort to "keep me".  Little do they know that more money only makes me leave sooner.  Bwahaahaha

Come on 2019!!
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Pylortes

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Re: 2019 fire cohort
« Reply #603 on: March 23, 2018, 01:49:24 PM »
Eric- I assume you are planning to take the position then?   Are there any negatives (hours wise or otherwise) with the promotion?  Honestly I think I'd pass on a promotion offered to me at this point, but circumstances differ.

Eric

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Re: 2019 fire cohort
« Reply #604 on: March 23, 2018, 02:01:59 PM »
Eric- I assume you are planning to take the position then?   Are there any negatives (hours wise or otherwise) with the promotion?  Honestly I think I'd pass on a promotion offered to me at this point, but circumstances differ.

Oh whoops.  I guess I should've included that info.  The "promotion" is basically just a title change.  My new duties are exactly the same as my old duties, but with more pay.  So yes, as you can imagine, I accepted.  :)
"Compound interest is the most powerful force in the universe."  -- Einstein

Pylortes

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Re: 2019 fire cohort
« Reply #605 on: March 23, 2018, 02:12:48 PM »
Sweet! Yes, that's a no-brainer then.  What's your anticipated FIRE date?  Should be able to pad that stache a little more, nicely done.

sui generis

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Re: 2019 fire cohort
« Reply #606 on: March 23, 2018, 02:16:23 PM »
Eric- I assume you are planning to take the position then?   Are there any negatives (hours wise or otherwise) with the promotion?  Honestly I think I'd pass on a promotion offered to me at this point, but circumstances differ.

Oh whoops.  I guess I should've included that info.  The "promotion" is basically just a title change.  My new duties are exactly the same as my old duties, but with more pay.  So yes, as you can imagine, I accepted.  :)
Congrats!  How nice to have more a better title in the meantime and, of course, the money!  What an awesome gift.

markbike528CBX

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Re: 2019 fire cohort
« Reply #607 on: March 23, 2018, 02:47:06 PM »
New table update.   It has been 3 pages so I thought I'd update.   If you have any updates/corrections just PM me.  I'll just edit this post instead of posting a new one.

Most Righteous Alias    Age@fire  Target DateOLY/OMY notes and eventually Date Confirmed
MoneyStacher51Jan-19
PhilB53Jan-19
sui generis41Feb-15-19
zinnie35Feb-19
MissNancyPryor50Mar-19
Roboturner30Mar-19
TartanTallulah55March-31-19moved to 2018 and is back again
EdgemaMar-19
Trifele52April-1-19 - WIGLO
HalfStached41Apr-1-19
Luck1241Apr-19
albireo1361May-1-19
Livingthedream5559May-19
cerat0n1aMay-19summer 2018 planned
dude53May-19
SamIAm3829May-19
FIRE 20/20May-19
Pylortes42May-31-19
Odiedog8590625/31/19
oldtoyotaJun-19
Itchyfeet47Jun-19
Bateaux50Jun-19
Parizade62Jun-21-19
CryingInThePool44Jun-19
powersuitrecall47Jul-19
Enigma39Jul-19
Thedividebyzero45Jul-19
Cornbread OMalley42Aug-19
RetirementDreamingSep-19
Spreadsheet ManSep-27-19
VoteCthulu39Oct-19
trix7643Oct-19
MoMan55Oct-19
2Birds1Stone32Nov-1-19
markbike528CBX55Dec-19 OLY 5-2018 at 53.5 but checking in as OP
HBFI38Dec-19
luckyme1345Dec-19
moxieDec-27-19
madamwitty36TBD
Lowerbills40TBD
Chrissy42TBD
GerardTBD
getoutsoon52TBD
ysette938late-19TBD
elaine amj40TBD
IplawyerTBD
ChairmanTBD-SemiFire 2018
exit2019TBD-2019

« Last Edit: March 31, 2018, 03:29:03 PM by markbike528CBX »

Eric

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Re: 2019 fire cohort
« Reply #608 on: March 23, 2018, 03:18:53 PM »
Sweet! Yes, that's a no-brainer then.  What's your anticipated FIRE date?  Should be able to pad that stache a little more, nicely done.

I'm not 100% sure on the date.  Hopefully not too long into 2019.  But I'll work at least a bit into 2019 no matter what as I want to max my 2019 IRA contribution and my 401k match is actually frontloaded, so it'd be silly to pass up that free money.  Plus, I need to coordinate with my wife, because there's no way that she'll let me quit before her.  :) 

I'll put a guess of giving my notice in March, but of course we'll see how the market does over the next year.

Eric- I assume you are planning to take the position then?   Are there any negatives (hours wise or otherwise) with the promotion?  Honestly I think I'd pass on a promotion offered to me at this point, but circumstances differ.

Oh whoops.  I guess I should've included that info.  The "promotion" is basically just a title change.  My new duties are exactly the same as my old duties, but with more pay.  So yes, as you can imagine, I accepted.  :)
Congrats!  How nice to have more a better title in the meantime and, of course, the money!  What an awesome gift.

Thanks!  The new title is nice, but I can think of a better one:  Retired ;)

And yeah, I will of course take their money!  It was definitely a nice surprise. 
"Compound interest is the most powerful force in the universe."  -- Einstein

DreamFIRE

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Re: 2019 fire cohort
« Reply #609 on: March 23, 2018, 03:37:48 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.

I was down to 13 months, then just I extended it to June when I realized I could shelter more income to keep my MAGI in check for ACA.  Still, just over 14 months now, and since I use a lot of benefit days in July through mid Sept., it will be close to October when I'll really be watching that countdown.  So June 1, 2019 remains my target for now.

I've actually been putting more into my 457 contributions through work recently because my taxable account and Roth have more than double my 457/work-plan, and this will allow me to work through the spring of 2019 while keeping my MAGI from exceeding any ACA cliffs.  I just wanted to be FIREd for the summer, so June 1 works for me.

2Birds1Stone

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Re: 2019 fire cohort
« Reply #610 on: March 25, 2018, 07:47:03 AM »
I've been working on a modeling tab in my FIRE spreadsheet that is charting my income at 4% WR vs. trailing 12 month expenses.

Assuming flat markets, no income/job loss, and no crazy unexpected expenses, the two lines are projected to cross on November 1st 2019, ~19 months from now.


edgema

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Re: 2019 fire cohort
« Reply #611 on: March 27, 2018, 02:10:10 AM »
Tough week. I don't regret my decision to do OMY but this would have been my last week at work before handing in my notice. Blink and another year will be gone looking back on it, but it feels like a long time day-to-day.

The great news it that my wife seems much more excited about me FIREing and taking the kids travelling for a year. Before now she was definitely worried about the financials, in part due to my infrequent but significant freakouts that none of this will work! This fear may rise again when we are close to March 2019 but lets hope not.

So the 'big' countdown clock for a year starts in a few days which will be satisfying.

mintleaf

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Re: 2019 fire cohort
« Reply #612 on: March 27, 2018, 05:48:51 AM »
I suppose it's time to put things in writing and officially join this thread. The plan is as follows: May 2019, we sell our HCOL clown house and move into our MCOL house with acreage. That should push our stash up to a point that finally "feels" FI. I'm going to quit my office job immediately, but DW will likely work a couple more years. At some point she wants to start a business. I want to find my bliss in living simply, growing food, and maybe selling homemade stuff on the side.

Whew, it's a little nerve-wracking to actually write that down. Feels like tempting fate.

dude

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Re: 2019 fire cohort
« Reply #613 on: March 27, 2018, 06:30:58 AM »
New table update.   It has been 3 pages so I thought I'd update.   If you have any updates/corrections just PM me.  I'll just edit this post instead of posting a new one.

table]
Most Righteous Alias    Age@fire  Target DateOLY/OMY notes and eventually Date Confirmed
MoneyStacher51Jan-19
PhilB53Jan-19
sui generis41?2/15/19
zinnie35Feb-19
MissNancyPryor50Mar-19
Roboturner30Mar-19
TartanTallulah553/31/19moved to 2018 and is back again
EdgemaMar-19
HalfStached41Apr-1-19
Luck1241Apr-19
albireo1361May-1-19
Livingthedream5559May-19
cerat0n1aMay-19summer 2018 planned
dude54May-19
SamIAm3829May-19
FIRE 20/20May-19
Pylortes425/31/19
Odiedog8590625/31/19
oldtoyotaJun-19
Itchyfeet47Jun-19
Bateaux50Jun-19
Parizade62Jun-21-19
CryingInThePool44Jun-19
powersuitrecall47Jul-19
Enigma39Jul-19
Thedividebyzero45Jul-19
Trifele52Aug-19
Cornbread OMalley42Aug-19
RetirementDreamingSep-19
Spreadsheet ManSep-27-19
VoteCthulu39Oct-19
trix7643Oct-19
MoMan55Oct-19
markbike528CBX55Dec-19 OLY 5-2018 at 53.5 but checking in as OP
HBFI38Dec-19
luckyme1345Dec-19
moxieDec-27-19
madamwitty36TBD
Lowerbills40TBD
Chrissy42TBD
GerardTBD
getoutsoon52TBD
ysette938late-19TBD
elaine amj40TBD
IplawyerTBD
ChairmanTBD-SemiFire 2018
2Birds1StoneTBD-2019
exit2019TBD-2019

I'll be retiring a few weeks shy of my 54th birthday, so technically, I'll be 53!  ;-)

markbike528CBX

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Re: 2019 fire cohort
« Reply #614 on: March 27, 2018, 07:59:57 AM »
Updated list in my previous list post.

2Birds1Stone

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Re: 2019 fire cohort
« Reply #615 on: March 27, 2018, 08:44:50 AM »
Updated list in my previous list post.

I PM'd you

markbike528CBX

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Re: 2019 fire cohort
« Reply #616 on: March 27, 2018, 08:55:05 AM »
Updated 2Birdsonstone and modified the date format.   
If you update the table use my previous one, not the copy later in the thread.

Although my previous date method had a purpose.
 ie  May-19 is "sometime in May"  where 5/31/19 is a specific date that stands out (at least to me) vs May-31-19.

Anyone else who is more OCD than me?

Trifele

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Re: 2019 fire cohort
« Reply #617 on: March 27, 2018, 09:09:25 AM »
Updated 2Birdsonstone and modified the date format.   
If you update the table use my previous one, not the copy later in the thread.

Although my previous date method had a purpose.
 ie  May-19 is "sometime in May"  where 5/31/19 is a specific date that stands out (at least to me) vs May-31-19.

Anyone else who is more OCD than me?

Hey Mark -- I PM'd you too.  I am now 4/1/19 or WIGLO.  Thanks!

2Birds1Stone

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Re: 2019 fire cohort
« Reply #618 on: March 27, 2018, 09:23:34 AM »
Updated 2Birdsonstone and modified the date format.   
If you update the table use my previous one, not the copy later in the thread.

Although my previous date method had a purpose.
 ie  May-19 is "sometime in May"  where 5/31/19 is a specific date that stands out (at least to me) vs May-31-19.

Anyone else who is more OCD than me?

Thanks! You can also add age, will be 32 :)

markbike528CBX

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Re: 2019 fire cohort
« Reply #619 on: March 27, 2018, 11:09:50 AM »
Most Righteous Alias    Age@fire  Target DateOLY/OMY notes and eventually Date Confirmed
MoneyStacher51Jan-19
PhilB53Jan-19
sui generis41Feb-15-19
zinnie35Feb-19
MissNancyPryor50Mar-19
Roboturner30Mar-19
exit201940Mar-15-19
TartanTallulah55March-31-19moved to 2018 and is back again
EdgemaMar-19
Trifele52April-1-19 WIGLO
HalfStached41Apr-1-19
Luck1241Apr-19
albireo1361May-1-19
Livingthedream5559May-19
cerat0n1aMay-19summer 2018 planned
dude53May-19
SamIAm3829May-19
FIRE 20/20May-19
Pylortes42May-31-19
Odiedog859062May-31-19
DreamFIREJun-1-19
oldtoyotaJun-19
Itchyfeet47Jun-19
Bateaux50Jun-19
Parizade62Jun-21-19
CryingInThePool44Jun-19
powersuitrecall47Jul-19
Enigma39Jul-19
Thedividebyzero45Jul-19
Cornbread OMalley42Aug-19
RetirementDreamingSep-19
Spreadsheet ManSep-27-19
VoteCthulu39Oct-19
trix7643Oct-19
MoMan55Oct-19
2Birds1Stone32Nov-1-19
markbike528CBX55Dec-19 OLY 5-2018 at 53.5 but checking in as OP
HBFI38Dec-19
luckyme1345Dec-19
moxieDec-27-19
madamwitty36TBD
Lowerbills40TBD
Chrissy42TBD
GerardTBD
getoutsoon52TBD
ysette938late-19TBD
elaine amj40TBD
IplawyerTBD
ChairmanTBDSemiFire 2018
exit2019TBD-2019
« Last Edit: March 31, 2018, 03:37:36 PM by markbike528CBX »

markbike528CBX

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Re: 2019 fire cohort
« Reply #620 on: March 27, 2018, 11:21:36 AM »
Latest and greatest list rev above.

DreamFIRE

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Re: 2019 fire cohort
« Reply #621 on: March 27, 2018, 03:03:26 PM »
Latest and greatest list rev above.
I don't see Eric, Mintleaf, or DreamFIRE on that list.

sui generis

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Re: 2019 fire cohort
« Reply #622 on: March 27, 2018, 04:06:43 PM »
I don't know if I can make it, y'all.  I'm staring down 325 more days and it feels like each is more excruciating than the last.  I switched firms about 8 months ago to a place that was supposed to be much more satisfying...and it turns out it is not. It's more challenging (in a not-intellectually satisfying way) and unlike my last job, where the work was predictable and steady, it's chaos around here and I'm constantly worried about whether I will make my billable hours by the end of the year.  I am *almost* at 28.57x expenses (3.5% WR) and if I stick around only to NOT get a bonus in January, I'll be really upset.

Anyone else going through this?  Everyone here (not just on this thread) seems so patient and plugging away until they are at like 80x expenses or something!  Maybe I'm conflating the people that are patient and heavily stache-d with those who hate their jobs.  I mean, I'm new enough here to not know usernames and who hates their jobs vs. who loves them and what people's goals are...but I'm surprised at the relative paucity of posts by people as impatient as me. 

I've been desperately giving myself assignments to complete before RE so that I don't chuck it all out the window, but I'm very tempted!

markbike528CBX

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Re: 2019 fire cohort
« Reply #623 on: March 27, 2018, 04:40:30 PM »
Latest and greatest list rev above.
I don't see Eric, Mintleaf, or DreamFIRE on that list.

Missed them.  Please add them yourself or PM me the relevant data.   I'm trying not to have too many copies of the list on one page, as it takes up a lot of space and causes confusion on what is the latest and greatest.

Note that "the greatest" is not used in the way that Muhammad Ali used it as can be seen by the use of lowercase lettering.  :-)

Trifele

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Re: 2019 fire cohort
« Reply #624 on: March 27, 2018, 05:34:42 PM »
I don't know if I can make it, y'all.  I'm staring down 325 more days and it feels like each is more excruciating than the last. 

Anyone else going through this?  Everyone here (not just on this thread) seems so patient and plugging away until they are at like 80x expenses or something! 


Ha!  I was feeling exactly like this until last week -- barely hanging on, like I was not going to make it through my last year.  Then Megacorp swooped in to buy my company, and it adjusted my attitude immediately.  Now I feel like I want to make it the next 12 months, to top my accounts off nicely.  It's hilarious.  Maybe you could do a serious thought experiment, like imagine how you would feel if they laid you off next month. Would you be disappointed because you could not make it to the finish line on your own terms, or would you be happy? If you would be happy, then maybe you really are ready to FIRE right now.

And as for the size of the stash, I think I may have one of the skinnier ones on this thread.  I am sitting at less than 25x right now with the market downturn.  I'm going to FIRE anyway, as I have a side gig and a spouse that wants to get back into the workforce. 
« Last Edit: March 28, 2018, 04:22:59 AM by Trifele »

DreamFIRE

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Re: 2019 fire cohort
« Reply #625 on: March 27, 2018, 05:55:00 PM »
Anyone else going through this?  Everyone here (not just on this thread) seems so patient and plugging away until they are at like 80x expenses or something!  Maybe I'm conflating the people that are patient and heavily stache-d with those who hate their jobs.

Well, I don't hate my job, but you may have seen me mention that I was at 81X a page back, but that was based on my current barebones without accounting for higher healthcare costs or any extra for fun/travel.  Factoring in ACA based premiums/out-of-pocket, I'm more like 63X.  Throw in significant entertainment/travel, and I'm at 25X.  Those figures were in that same post, though.

I'm trying to be patient with 14 months to my target, but what makes it a little tough for me is knowing that I could call it quits now with pretty much no fear of running out of money. I could drop my WR to less than 2.5% of my current stash to protect against SORR if my investments dropped off early during FIRE since I have a large buffer with entertainment/travel that I could cut way back on if I felt the need.  So, I could pull the trigger today with relatively low risk.  16 years into FIRE, I could draw SS and live on the same entertainment/travel budget while only needing to draw <2% from my stash, so that adds another layer of protection.  Sometimes at work, I'll start dreaming of FIRE, thinking about what I'll do, where I'll go, where I could relocate to, etc.  But fortunately, it's only temporary daydreaming, and I'm always able to redirect my focus back to work when I need to accomplish something.

So, someone might ask why I am still working.  One reason is due to the uncertainty of the ACA.  Before my FIRE date, the mid-term elections will be history, so I hope the results will give me more optimism about the ACA's future, plus that will allow more time to see developments in the marketplace with insurers heading into 2019.

The other reason I continue to work is because I'm simply not ready to retire.  I would really miss my job if I suddenly pulled the plug today.  If I was working in a cubicle, pushing papers, another corporate drone, and running on the hamster wheel, I would be headed out the door today.  I've worked in office settings not long ago that I wouldn't tolerate today.  But, as of last summer, I have my own office, you know, with actual walls to the ceiling and a door that closes.  I can control the temperature, play music, take breaks whenever I want.  I have a huge amount of flexibility.  And the demands of the job have actually lessened, which gives me plenty of downtime.  To top it off, I'm able to focus more on interesting projects than I had been able to over most of my career.  My stress level is lower than ever.  For over 16 years at my current employer, I could only dream of having it as good as it is now.  This all still feels very fresh to me, and I don't want to give it up yet.  Ending up with another $90K in my stash is an added bonus.

Once summer gets here, I'm going to work very few full weeks through Sept. as I use up most of my benefit time for three and four-day weekends.  I'll probably be anticipating FIRE more by October with 8 months to go.  But even come June 1, 2019, I'm hoping to work 1 to 3 days per week for one year, if my employer is interested.  Due to the budgeting of my position as full time, I don't know if that will fly.  If that's not an option to stay on part time, the chances of OMY full time are pretty low, despite yet another $90K in the stash another year out.  In fact, I might be ready to shelf the part time idea by my FIRE date!
« Last Edit: March 27, 2018, 05:56:42 PM by DreamFIRE »

itchyfeet

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Re: 2019 fire cohort
« Reply #626 on: March 28, 2018, 04:31:09 AM »
I donít hate my job, but it is exhausting and stressful, and I am not looking forward to the coming 9 months. I want to tap out. If I lost my job today I would be happy, but I am worried about my finances.

We are stuck around 21.5x of what weíd like to be able to spend each year, and going no where this year with Australian stocks and property both going backwards. 

With the extended bull run and high multiples I donít have a huge amount of confidence that 21x is enough. I really wanted to be at 25x plus. We wonít get there this year.

Today the plan remains to push on to the end of the year and FIRE at XMas, repatriate to Australia after some extended travel, and then see how we feel after a year or so break from work. Today, I really donít want to work again, but I also donít want to get to 65 and find I am very short of cash. We could definitely trim  our spending, but equally, more money wouldnít be terrible.

We have an expensive house in Sydney that we need to sell, and once we have the sale proceeds in our bank account that will provide greater clarity on where we stand. We wonít be selling until we get back to Australia and tidy up the place as it will have been a rental for the past 6 years and will no doubt need a little TLC before being put on the market. As we plan to travel most of next year we wouldnít be selling until 2020, so a lot could happen between now and then.

dude

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Re: 2019 fire cohort
« Reply #627 on: March 28, 2018, 06:54:11 AM »
Every day at work is a grind, but I'm so close to that golden parachute that I don't get worked up over it. Everyone in my office knows how short I am, and expects that I'll be putting on the brakes in my waning months. I've been out of work now for going on three weeks (week of vacation + two weeks of convalescence for an injury I sustained on vacation (!)), and boy, despite my boredom as a result of my relative immobility, it's been SO NICE not having to go to the office!

sui generis

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Re: 2019 fire cohort
« Reply #628 on: March 28, 2018, 09:42:40 AM »
Maybe you could do a serious thought experiment, like imagine how you would feel if they laid you off next month. Would you be disappointed because you could not make it to the finish line on your own terms, or would you be happy? If you would be happy, then maybe you really are ready to FIRE right now.


Yeah, I would be soooooo happy if they laid me off.  However, I still think I am going to wait to FIRE.  Maybe not until Feb 2019, if it becomes apparent I can't hit my hours for a bonus, but at least 6 months.  I think I need that time to be confident in myself about approaching retirement.  Not so much the finances part, but the everything else part. 

And at this point, it would feel too much like I was acting rashly.  While I have definitely been a saver for a long time, it's only in the last year that I started imagining retiring sometime in the next 3-5 years and then only in the last month or two that I decided it could (and should) be next year, because the job change didn't work out as hoped.  Pulling the plug too fast seems like asking for trouble. 

How I get through the day-to-day of it, though, is the outstanding question.  I'm not even going in to work today, which I think will be good for my mental health, but I'll probably only manage to bill 2-3 hours for the day, which is stressful.  I should work on changing my attitude not to care about how many hours I bill, but I still do really want to get a nice bonus next January to top off my savings.  Which means I may have to go around begging for work, reinforcing the idea that I'm an enthusiastic team player working toward partnership.  I'd really rather fly under the radar for the next 10 months.  Ugh.

Chrissy

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Re: 2019 fire cohort
« Reply #629 on: March 28, 2018, 11:56:40 AM »
sui generis, my husband wants to retire NOW.  I'm fine plugging along, but, for him, every day is agony.  We are only at 11x expenses, though gaining quickly.  I hope he can retire at the end of next year, but we just found out we're both taking pay cuts (unless he changes jobs (my job doesn't exist anywhere else)), and we added a kid at the same time, so we'll probably have to migrate to 2020 or 2021.

We're not patient and definitely not waiting to 80x expenses!

sui generis

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Re: 2019 fire cohort
« Reply #630 on: March 28, 2018, 12:08:54 PM »
sui generis, my husband wants to retire NOW.  I'm fine plugging along, but, for him, every day is agony.  We are only at 11x expenses, though gaining quickly.  I hope he can retire at the end of next year, but we just found out we're both taking pay cuts (unless he changes jobs (my job doesn't exist anywhere else)), and we added a kid at the same time, so we'll probably have to migrate to 2020 or 2021.

We're not patient and definitely not waiting to 80x expenses!

Ugh, as much as I felt bad thinking so many others were so patient and liked their jobs so much better, I also feel bad knowing there are others as unhappy as me! 

And thanks for also prompting me to stop and consider that I don't have it *that* bad either.  In fact, studying stoicism during this time might be a good pursuit that helps pass the time - especially that technique where you spend a lot of time thinking about terrible things that could happen (like losing your eyesight) in order to step off the hedonic treadmill and newly appreciate the most basic of things you take for granted.  I did, for instance, take a moment yesterday to stop, turn around to look out my office window on a beautiful sunny day, with a not-bad view of a big local bridge, and take a nice deep breath.  It was helpful!  The effect lasted only a few seconds, but hey it's a start right? 

TartanTallulah

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Re: 2019 fire cohort
« Reply #631 on: March 28, 2018, 09:51:55 PM »
I don't know if I can make it, y'all.  I'm staring down 325 more days and it feels like each is more excruciating than the last.  I switched firms about 8 months ago to a place that was supposed to be much more satisfying...and it turns out it is not. It's more challenging (in a not-intellectually satisfying way) and unlike my last job, where the work was predictable and steady, it's chaos around here and I'm constantly worried about whether I will make my billable hours by the end of the year.  I am *almost* at 28.57x expenses (3.5% WR) and if I stick around only to NOT get a bonus in January, I'll be really upset.

Anyone else going through this?  Everyone here (not just on this thread) seems so patient and plugging away until they are at like 80x expenses or something!  Maybe I'm conflating the people that are patient and heavily stache-d with those who hate their jobs.  I mean, I'm new enough here to not know usernames and who hates their jobs vs. who loves them and what people's goals are...but I'm surprised at the relative paucity of posts by people as impatient as me. 

I've been desperately giving myself assignments to complete before RE so that I don't chuck it all out the window, but I'm very tempted!

I have days when I wonder how I'm going to make it through another year, but then I remember almost a full year has passed since I first calculated that I could retire in 2019 and I've coped quite well.

My situation is about to improve. We've managed to recruit a contractor whose rates are reasonable and who is keen to join us part time (they're not FIRE, they just enjoy being freelance) and I put my hand up and volunteered to drop my hours to accommodate them. In May and June, at least, I'll be working no more than 36 hours a week spread over no more than four days, which is what I signed up for seven years ago.

I was surprised that some of my current colleagues wrinkled their noses at the suggestion, citing the cost of the contractor as the main reason for objecting. It shows how much I'm currently protecting their precious 36-hour weeks by picking up most of the extra work myself. I suspect they will also question the accounts showing that I'm owed a substantial balancing payment for doing so much extra work, but the stats don't lie - in the last year I worked over 30% more than the next person and didn't take a bigger monthly income.



edgema

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Re: 2019 fire cohort
« Reply #632 on: March 29, 2018, 03:27:05 AM »
sui generis - I would hazard that many can relate and certainly I can. Personally about to hit the one year countdown clock and as this is a OMY, I am today staring at the date which was going to be the day of my resignation. Quite hard to blow through it with a smile on my face no matter how much I believe the OMY year makes sense.

I also have a situation with work as we were spun out and merged with a similar business a year ago. It is fairly obvious that around a third of people should be made redundant as the two businesses do exactly the same thing. Although it has taken a year, 'working groups' are now looking at this and consultants are hovering around advising on what the combined company should look like. Tempting fate in that I don't think I am for the chop, but as about half my pay is through bonus (and that is my 50% savings rate) there is some uncertainty about any bonus and therefore the value of doing the extra year. That doesn't help as you point out.

If you are like me the big picture stuff (obviously pretty great in that you less than a year from retiring early) gets swamped by the day-to-day grind of hauling yourself into the office and exhibiting the good corporate citizen persona who is a 'passionate member of the team and in it for the long run'. Perhaps it is obvious, but I do not like my job (perhaps even hate on a bad day) so you are not conflating me with those who are happy enough doing what they do with a great FIRE option on the side. I am jealous of those who can comment that they are already FI at 80x and will only RE when they stop being satisfied. Not me. This is a hard nosed financial exercise, grinding out the days for a better future.

Some coping mechanisms which I think have helped me; Writing an (entirely private) blog/journal. Subdividing the coming year into segments, like making it to your next holiday. Putting some events in the calendar (I like fitness stuff so have a 3 day bike ride in the diary for August). If you are not already, try to start ramping up whatever it is that you want to do with the time you will have after FIRE. For me that keeping up with my running/cycling along with, guitar, learning Spanish, and sailing.

I am not always successful but don't; stare at your countdown clock multiple times a day. re-tweak your financial model for the thousandth time. check your portfolio value again. view the next year as a (gilded) prison term to just clench your jaw against. 

Remember the next year is your life for only one more year. For almost everyone else, this is what they likely have in store for the next few decades. Perhaps I am a bad person and it is certainly not the most zen way of looking at it, but that fact produces a warm glow of satisfaction. Remember - 6 months in to RE you will have had as much 'time off' as you probably had in the previous 10 years!

Good luck and sending out as much empathy as I can!

Trifele

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Re: 2019 fire cohort
« Reply #633 on: March 29, 2018, 03:47:00 AM »
@sui generis -- Just saw your other thread about Lawyers on FIRE, and now I have even more sympathy for your situation.  Assume you are at a law firm?  I feel you, my friend -- been there in those hell holes.  If you were further from FIRE I'd urge you to get out and find something else, but if you only have a year to go you may be better off just sticking it out.

One coping mechanism I've been using at work is to use any spare minutes to think about my passions -- the things I am FIREing to.   I'm sort of embarrassed to admit how much time I spend at work researching travel and my hobbies.  And on this forum, lol.  But it keeps me sane.  And I have resolved in this, my final year, to take full advantage of all benefits the job offers -- every perk, every single day off, etc.  I'm going to suck it all dry, and I am not giving even a molecule of anything extra.

Strangely, my new mental detachment and low-output mode is having no ill effects whatsoever on my performance or reviews.  I've received numerous compliments in the last couple of weeks about how calm I am in the midst of our corporate merger chaos, and how I'm the "rock" of our department.   Hahahahahahaha!

I know it's different when you have to track time, but hopefully you can find some way to find some mental peace and detachment at work.  Good luck!  Hang in there. 

exit2019

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Re: 2019 fire cohort
« Reply #634 on: March 29, 2018, 11:10:05 PM »
age 40mumble and target date: march 15 2019

Half Stached

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Re: 2019 fire cohort
« Reply #635 on: March 31, 2018, 08:33:28 AM »
Another quarter down:

7/15: 41.6% FI
10/15: 40.1%
1/16: 45.6%
4/16: 50.4%
7/16: 53.7%
10/16: 60.7%* (due to reducing expenses and better modeling, we reduced our FI target from 1.8million to 1.7)
1/17: 63.5%
4/17: 75.3%
7/17: 44.4* (Condo purchase. FI target reduced from 1.7million to 1.3, not including condo.)
10/17: 50.6%
1/18: 56.3%
4/18: 62.3%

The quarter started off with a roar, but things have become quite a bit more uncertain at work recently. I wouldn't be surprised if I engineer a layoff this year. It makes the FI numbers a bit tighter, but since I would get about 5 months of severance, wouldn't be too bad.

DreamFIRE

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Re: 2019 fire cohort
« Reply #636 on: March 31, 2018, 10:46:31 AM »
Relevant to another thread last evening, I figured my latest saving rate for 2018 based on my recent pay raise, increase in retirement withholding, and some home maintenance that I need to do outside of my barebones budget allotment.  It looks like I should be a little over 80% savings rate for 2018.  I'm at about 63X barebones right now.  So if the market just hangs on, that will get me to 65X.  If the market recovers recent losses and merely keeps up with inflation, but without any significant gains beyond that, it will get me to about 67X for FIRE barebones.  The difference between 25X and 65-67X is my entertainment/travel and possible re-location budget and gives me some room to cut back my WR if there's a big hit to my investments.  So adding it all up, I'm at 25X for what I'm planning.  It looks like I could reduce my WR to 1.6% to cover barebones if I had to.  Otherwise, I'm looking at a WR rate of around 4% as I begin FIRE in 2019 (assuming that I don't OMY it to get my stash up another $90K to FIRE in 2020 instead.)  This will give me plenty of "fun" money.

Edit:  One other note is that my stash only "needs" to last about 15 years, so even with conservative investing getting 0% real returns, I could use an elevated 6% WR for 15 years.  Beginning 15 years into FIRE, the SS calculator shows SS will cover barebones with $700 extra after taxes.  Of course, I'm not planning for a 6% WR, and I fully expect to still have a sweet stash  to keep my entertainment/travel budget going when I start drawing SS as I will regulate my WR through FIRE using the 4% rule as a guideline and making adjustments based on real returns rather than a fixed 4% + inflation WR with no regard for reality.  Just thinking about this makes OMY or sticking around part time into 2020 difficult to justify.  So I'll stay firmly in the 2019 camp for FIRE.

I'm not factoring in inheritance, home value (& reverse mortgages), or any mooch factors (staying with someone in their home) in to my calculations, but those would make the numbers work even more favorably for me.  I mentioned possible re-location, and I know that can increase the bare bones due to COL changes, but I'm only considering re-locations that are pretty much lateral financially, even if it means downsizing in sq. ft.
« Last Edit: March 31, 2018, 03:11:10 PM by DreamFIRE »

exit2019

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Re: 2019 fire cohort
« Reply #637 on: April 02, 2018, 10:25:41 AM »
I don't know if I can make it, y'all.  I'm staring down 325 more days and it feels like each is more excruciating than the last.

this.  I am struggling.

VoteCthulu

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Re: 2019 fire cohort
« Reply #638 on: April 02, 2018, 01:46:35 PM »
I don't know if I can make it, y'all.  I'm staring down 325 more days and it feels like each is more excruciating than the last.

this.  I am struggling.
For me, it's mostly a matter of what I can make myself focus on. Some days I calculate the time I have left in calendar days, weeks, work days, work hours, work minutes, etc. and those days seem to grind sloooowly by.

When I can focus on something I want or need to do in the next few days or weeks, my day seems to go much faster.

I'm also taking a lot more out of state vacations this year, which breaks up work a bit.
« Last Edit: April 02, 2018, 03:37:04 PM by VoteCthulu »

tooqk4u22

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Re: 2019 fire cohort
« Reply #639 on: April 02, 2018, 02:37:03 PM »
Maybe you could do a serious thought experiment, like imagine how you would feel if they laid you off next month. Would you be disappointed because you could not make it to the finish line on your own terms, or would you be happy? If you would be happy, then maybe you really are ready to FIRE right now.


Yeah, I would be soooooo happy if they laid me off.  However, I still think I am going to wait to FIRE.  .....

I dream of this!  Sure I have FIRE fears like everyone else....running out of money, health care costs, children costs, etc....but I think my biggest fear is fucking it all up (all that we accomplished and setting the course) because I "Decided" FIRE'd.  Completely irrational but if they canceled me then it wouldn't be MY decision and I would have to just roll with it. 


DreamFIRE

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Re: 2019 fire cohort
« Reply #640 on: April 02, 2018, 03:51:05 PM »
Just a couple years back, I thought getting layed off would have been good because I wasn't happy with things at work, but things are a lot better now, so I'm just hoping to make it through the next year without any changes that spoil it.

Counting the days makes it seem even longer, so I just think in terms of months....  14 months.  This is the longest part of the year for me - beginning of March through the end of June, because I don't start using vacation days until July through Sept.  So those months will probably go by pretty quickly, and I'll be down to single digits.

sui generis

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Re: 2019 fire cohort
« Reply #641 on: April 02, 2018, 04:18:01 PM »

For me, it's mostly a matter of what I can make myself focus on. Some days I calculate the time I have left in calendar days, weeks, work days, work hours, work minutes, etc. and those days seem to grind sloooowly by.

When I can focus on something I want or need to do in the next few days or weeks, my day seems to go much faster.

Yeah, that's definitely one of my problems right now - I have so little to focus on to make the time pass. Work is slow!  While I used to fill this kind of down time at other jobs with spending a lot more time on boards like this, or other interests, this job is really strict on the billable hours requirements so it's actually doubly awful and even harder to distract myself because I constantly need to be chasing work.  And that just reminds me how much I hate it here! 

I trust it will get busier eventually and then I'll be a sourpuss because I hate the actual work, as well.  But maybe the time will be going faster then, which will be a net positive.

Honestly, I don't know how I ended up as this person, but every job I just hate more than the last. Apparently I didn't know how good I had it at my first job out of college (where I spent most of my time surfing the internet and reading about how to stop being a "wage-slave" and "quarter-life crises" and I just keep getting myself into worse and worse (though, thankfully, higher paid) positions.  I honestly feel like something must be wrong with me that I keep thinking the next job sounds and will be better!  And then it's shittier, instead.  That's really why I decided I needed to stop doing JOBS. 

Trifele

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Re: 2019 fire cohort
« Reply #642 on: April 03, 2018, 07:09:24 AM »
I've officially passed the one year mark!  One year from now (or less if laid off) I will be officially FIREd.  Man that feels good.  I'm already planning the celebratory travel and activities. 

edgema

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Re: 2019 fire cohort
« Reply #643 on: April 03, 2018, 07:25:40 AM »
Me too. My countdown clock in years now says 98.5%!

tooqk4u22

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Re: 2019 fire cohort
« Reply #644 on: April 03, 2018, 08:02:34 AM »
Honestly, I don't know how I ended up as this person, but every job I just hate more than the last. Apparently I didn't know how good I had it at my first job out of college (where I spent most of my time surfing the internet and reading about how to stop being a "wage-slave" and "quarter-life crises" and I just keep getting myself into worse and worse (though, thankfully, higher paid) positions.  I honestly feel like something must be wrong with me that I keep thinking the next job sounds and will be better!  And then it's shittier, instead.  That's really why I decided I needed to stop doing JOBS.

I feel the same way, but bold points are not mutually exclusive - with more money typically comes more demands, goals, stress and more BS work that is further away from the part of the job that you enjoy. 

itchyfeet

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Re: 2019 fire cohort
« Reply #645 on: April 03, 2018, 09:17:24 AM »
I've officially passed the one year mark!  One year from now (or less if laid off) I will be officially FIREd.  Man that feels good.  I'm already planning the celebratory travel and activities.

I am down to 9 months, but I distinctly remember the day that I realised that I was within 12months and airline booking systems would let me book my first post FIRE flight. I looked at some prices that day but didnít book. Still havenít. 9 months is still a fair way off and I need to decide where I will take a vacation this summer before I start worrying about 2019.

Eric

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Re: 2019 fire cohort
« Reply #646 on: April 03, 2018, 09:25:29 AM »
I've officially passed the one year mark!  One year from now (or less if laid off) I will be officially FIREd.  Man that feels good.  I'm already planning the celebratory travel and activities.

I am down to 9 months, but I distinctly remember the day that I realised that I was within 12months and airline booking systems would let me book my first post FIRE flight. I looked at some prices that day but didnít book. Still havenít. 9 months is still a fair way off and I need to decide where I will take a vacation this summer before I start worrying about 2019.

Huh.  That's something that never even crossed my mind.  There goes the rest of my day!  lol
"Compound interest is the most powerful force in the universe."  -- Einstein

itchyfeet

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Re: 2019 fire cohort
« Reply #647 on: April 03, 2018, 10:28:27 AM »
I've officially passed the one year mark!  One year from now (or less if laid off) I will be officially FIREd.  Man that feels good.  I'm already planning the celebratory travel and activities.

I am down to 9 months, but I distinctly remember the day that I realised that I was within 12months and airline booking systems would let me book my first post FIRE flight. I looked at some prices that day but didnít book. Still havenít. 9 months is still a fair way off and I need to decide where I will take a vacation this summer before I start worrying about 2019.

Huh.  That's something that never even crossed my mind.  There goes the rest of my day!  lol

It doesnít get any more real than booking a flight anywhere you could dream of without having to clear it with the boss first.

You can even just buy a 1 way ticket if you choose, and Worry about when you will return later. Because you will return when it suits you, not when your approved leave ends.

sui generis

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Re: 2019 fire cohort
« Reply #648 on: April 03, 2018, 10:35:11 AM »

It doesnít get any more real than booking a flight anywhere you could dream of without having to clear it with the boss first.

You can even just buy a 1 way ticket if you choose, and Worry about when you will return later. Because you will return when it suits you, not when your approved leave ends.

*swoon*

Livingthedream55

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Re: 2019 fire cohort
« Reply #649 on: April 13, 2018, 09:25:11 AM »
We're getting closer peeps!!!!

I am amusing myself planning some frugal vacations for 2018 (which I will really take) and (like others on this thread) daydreaming about where I might go in 2019 once FIREd.

Just discovered Skyscanner.com - it has a feature where you can search from your home city to "everywhere" and then search by "cheapest month" - super fun.  I've found domestic round trip flights for under $80 and international for $200. It's fun to plan itineraries.

Happy Friday!!!