Author Topic: 2019 fire cohort  (Read 188666 times)

edgema

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Re: 2019 fire cohort
« Reply #750 on: May 25, 2018, 08:29:24 AM »
For the purpose of the age averages, I am on the list as Edgema and will be 42 at my FIRE date next march.

PhilB

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Re: 2019 fire cohort
« Reply #751 on: May 25, 2018, 10:16:28 AM »
For the purpose of the age averages, I am on the list as Edgema and will be 42 at my FIRE date next march.
If I still got included in the average age calc, despite my OLY, I should really be 52 not 53 - 53 was from my original July 19 date.  More to the point, you guys are making me feel ancient!

2Birds1Stone

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Re: 2019 fire cohort
« Reply #752 on: May 25, 2018, 12:55:15 PM »
So using that table, I calculated that the average age of the 2019 cohort FIREee (for those whose ages are listed) is 45.57.

17 years earlier than the average retiree age (63) in the U.S. - bravo 2019 cohort!

That's awesome.

Mine will be a Semi-Fire, but I'm still pumped to be ~13.5 years younger than the cohort average, and 31 years younger than the US average.

Trifele

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Re: 2019 fire cohort
« Reply #753 on: May 25, 2018, 01:57:16 PM »
For the purpose of the age averages, I am on the list as Edgema and will be 42 at my FIRE date next march.
If I still got included in the average age calc, despite my OLY, I should really be 52 not 53 - 53 was from my original July 19 date.  More to the point, you guys are making me feel ancient!

Yeah, I'm feeling old too PhilB . . . I'll be either 51 or 52 depending on the exact date I pull the plug.  :)

Bateaux

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Re: 2019 fire cohort
« Reply #754 on: May 25, 2018, 03:05:54 PM »
I'm buying another house.   Looks like 2020 or later for me.  I'm of the pay the mortgage off camp.   Hoped to be done at 50.  Will likely be 51or 52.

exit2019

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Re: 2019 fire cohort
« Reply #755 on: May 30, 2018, 09:50:34 PM »
New way of avoiding a focus on the clock: reading the 2018 cohort thread.  it's actually pretty interesting how many people are confirmed at this point in the year. 

itchyfeet

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Re: 2019 fire cohort
« Reply #756 on: May 30, 2018, 10:13:57 PM »
So that is May done and dusted. Not a good month financially. Itís the first month in more than 2 years that DW and I have spent every cent we earned. Whoops. The money slipped through our hands in a myriad of ways but mostly was spent booking flights etc for our summer vacation extravaganza. Topping off the May madness spending was barely positive investment returns for the month.

May was a big fat financial doughnut! Zero progress.

I am now 5 months into what was meant to be my last year of working and my resolve is cracking. DW and I have been looking online at houses to FIRE to and the ones we like are a more than our current financial position would allow. We are also thinking a slightly larger travel budget would be nice, and DW is pushing for more contingency (classic OMY syndrome).

So what are we going to do???? F@ck knows.

D-Day is fast approaching. If I will resign in December I will need to tell my employer early September. 3 months to decide my fate. Eek.

We have many options
 - The lowest risk and least fun: keep working for a couple more years. 2 would do it.
 - We could just FIRE and live within our means. Hardly radical, but maybe we will regret not having made the effort to earn that little extra cream
 - We could quit, travel for as long as we wanted to, repatriate to Australia and find new jobs. I would be paid far less in Oz compared to my nice expat package, assuming I could find a decent job. My CV is atypical (not in a good way) which concerns me. But being back in Oz near family is one of our motivations to FIRE.
 - We could FIRE on a tight budget for 5-10 years and let our stash grow, and then buy the place we want. DW would do some casual work in the mean time to top up the savings, or give us a little extra fun money. I think that this is rather risky. Will we really spend 30% less than what weíd like to. Certainly feasible but....

3 months to make up my mind. D-day (decision day) is rapidly approaching.

« Last Edit: May 31, 2018, 04:50:40 AM by itchyfeet »

Linda_Norway

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Re: 2019 fire cohort
« Reply #757 on: May 31, 2018, 12:50:25 AM »
I would appreciate it if you would contribute to my thread here, since it is a major part of our FIRE moment:

https://forum.mrmoneymustache.com/real-estate-and-landlording/when-is-a-smart-time-for-us-to-sell-our-house/

(I will also post it in the 2020 thread.)

PhilB

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Re: 2019 fire cohort
« Reply #758 on: May 31, 2018, 02:52:18 AM »
So that is May done and dusted. Not a good month financially. Itís the first month in more than 2 years that DW and I have spent every cent we earned. Whoops. The money slipped through our hands in a myriad of ways but mostly was spent booking flights etc for our summer vacation extravaganza. Topping off the May madness spending was barely positive investment returns for the month.

May was a big fat financial doughnut! Zero progress.

I am now 5 months into what was meant to be my last year of working and my resolve is cracking. DW and I have been looking online at houses to FIRE to and the ones we like are a more than our current financial position would allow. We are also thinking a slightly larger travel budget would be nice, and DW is pushing for more contingency (classic OMY syndrome).

So what are we going to do???? F@ck knows.

D-Day is fast approaching. If I will resign in December I will need to tell my employer early September. 3 months to decide my fate. Eek.

We have many options
 - The lowest risk and least fun: keep working for a couple more years. 2 would do it.
 - We could just FIRE and live within our means. Hardly radical, but maybe we will regret not having made the effort to earn that little extra cream
 - We could quit, travel for as long as we wanted to, repatriate to Australia and find new jobs. I would be paid far less in Oz compared to my nice expat package, assuming I could find a decent job. My CV is atypical (not in a good way) which concerns me. But being back in Oz near family is one of our motivations to FIRE.
 - We could FIRE on a tight budget for 5-10 years and let our stash grow, and then buy the place we want. DW would do some casual work in the mean time to top up the savings, or give us a little extra fun money. I think that this is rather risky. Will we really spend day 30% than what weíd like to. Certainly feasible but....

3 months to make up my mind. D-day (decision day) is rapidly approaching.
Hate to be the one to break it to you, but May has 31 days!

I feel for your dilemma, even if I did approach it from the other side - baked loads of excess into the plan then ended up deciding to OLY.  All I can share is that what really helps me know we have enough is the thought of taking a vacation to Mustache land - If I want to spend x amount of money on something then I'd need to save up for it by being 'properly' mustachian for y weeks.  Does that sound like a fun and relaxing staycation or hard work?  If the former then you definitely have enough.  If the latter then maybe not.

Trifele

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Re: 2019 fire cohort
« Reply #759 on: May 31, 2018, 04:56:59 AM »
So that is May done and dusted.

Hate to be the one to break it to you, but May has 31 days!


I believe Itchy is many hours ahead of the time showing on his post, since that is US mountain time I believe.  Not sure exactly where Itchy is at the moment (maybe SE Asia?)

itchyfeet

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Re: 2019 fire cohort
« Reply #760 on: May 31, 2018, 05:08:54 AM »
Actually, I am living in the Middle East, and i was taking a punt nothing dramatic would happen to my finances today. It was already mid afternoon in Australia, where most of my asset exposure is, and I wast going to spend any money sitting at my desk today.

Linda_Norway

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Re: 2019 fire cohort
« Reply #761 on: May 31, 2018, 05:48:11 AM »
Actually, I am living in the Middle East, and i was taking a punt nothing dramatic would happen to my finances today. It was already mid afternoon in Australia, where most of my asset exposure is, and I wast going to spend any money sitting at my desk today.

Credit cards, internet bank and paypal give you great opportunity to spend money at your desk. I pay most of my bills automatically or from my desk.

itchyfeet

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Re: 2019 fire cohort
« Reply #762 on: May 31, 2018, 06:23:33 AM »
Haha. I can see you are all telling me not to count my financial chickens before they hatch.

I didnít plan on paying any bills today and So far so good.

I have made it to 4.20pm without damaging my financial position.

Iíll stay out of the pub tonight just to be sure I am not fined by the Calendar Police for fraudulently pushing any small cash outs into my June numbers..... so much for that pint.... maybe I can find some coins down the back of the sofa.

edgema

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Re: 2019 fire cohort
« Reply #763 on: May 31, 2018, 07:01:34 AM »
Itchyfeet.

The only thing I would say is that I find it easier to find reasons why now is not the right time, especially as you get close to the FIRE date where real action is necessary (like resigning!). Not FIREing might be day-to-day wrong, but will feel year-to-year right (more stash and only a year older!), yet still wrong looking back over life from old age.   

At least when I was nearing my original FIRE date early this year, I found ways to convince myself that I didn't have enough, when actually my financial position was objectively better than forecast. Was the number too low, or is it just 'easier' not to make the decision and keep going? Hard to say. My brain moved the goalposts to give me a 'rational' reason why I needed to do OMY which is easier than admitting that you are just scared. I don't regret the OMY and feel much safer doing it, but sincerely hope I do not do the same in 6 months time. Cannot guarantee that though!

Another thing I did, and perhaps you are, is that you start to price up some of the things you want to buy on retirement (like houses if you are moving), and I think it is natural that you start to look a things just a bit too expensive compared to what you have budgeted. All of a sudden you don't have enough. My amateur psychology is that this is another way your brain tries to convince itself not to make this major life decision. It may not be the case for you, but are you secretly looking at houses which are more expensive than you really need/want?

Finally, we all probably look at our stashes too often, but my observation would also be that if you even care/know what your stash did on any given month then it is probably not big enough as if there was sufficient buffer then you wouldn't. Thought experiment; you retire and see your stash go down 10% the next month, how do you feel? If the feeling would be panic then you are not ready / stash isn't large enough IMO.

itchyfeet

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Re: 2019 fire cohort
« Reply #764 on: May 31, 2018, 01:19:48 PM »
Thanks Edgema for your thoughts.

The thought of my stash going up or down 10 or even 20% doesnít bother me so much. I believe deep inside me that in the long term the markets will go up, so donít fear fluctuations, and in any case I have rental income, dividends and a pension as part of my post FIRE income, so take comfort from that too. I currently follow my stash very closely because I enjoy doing so. Also, I donít want to have unrealistic expectations of how much spending my stash can support post FIRE, so I am testing sensitivities very carefully and over analysing the numbers. I enjoy passing milestones, seeing trends and dreaming of how I will spend the money once I stop working my life away. Itís an addiction.

As to the rest of your email. I agree 100% that I am putting barriers between myself and FIRE. I have a fairly high NW by MMM standards, and most on this forum would happily FIRE with my stash. I will never go hungry and will afford a comfortable life even if I cut spending by 25%. My indecisiveness is motivated by healthy doses of both fear and greed.

On the other hand, as all of us at the finale of our FIRE marathon know, a little extra work at the very end can go very far.

There are three factors driving this - a career in full flight, a big pile of money feeding feverishly off itself, and with all basic expenses covered every extra dollar goes straight to funding guilty pleasures. A little can go a long way.

The battle is to recognise that this greed is actually stealing from my life. I understand this......but.....

Look, August will soon be here, and a decision will be made, and thatíll be that.

Many times in my life I have struggled with big decisions. But to date, I have never regretted taking the time to come to the right decision. I feel generally I make good decisions. I am sure I will here too.

DreamFIRE

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Re: 2019 fire cohort
« Reply #765 on: May 31, 2018, 07:14:52 PM »
Finally, we all probably look at our stashes too often, but my observation would also be that if you even care/know what your stash did on any given month then it is probably not big enough as if there was sufficient buffer then you wouldn't.

My stash is at 80X barebones, and about 65X FIRE bare bones (includes additional dollars for expected health care coverage cost during FIRE.)  And it only needs to last me 15 years.  With a 4% SWR, my buffer should be sufficient - almost $30K/yr for discretionary spending OVER regular expenses.  But I still look at my accounts and add up my total stache accounts frequently, although I was doing that most frequently when stock indexes were hitting record highs.  It's just fun and positive reinforcement, not due to any worries or concerns.  It sometimes seems surreal to have gotten to this point, and I like the feeling I get adding it up.  A 10% drop is pretty meaningless.  I already suffered that earlier this year in most of my stock funds and have since set a new record stash level.  I'm slowly moving to a more conservative AA as I approach a 2019 FIRE date making such a drop in stocks even less of a factor after I FIRE.  I might relocate when I FIRE, but I'm not looking to upgrade to more expensive housing.  I want to keep those extra dollars in the discretionary bucket for entertainment, travel, and other discretionary spending, and always being able to cut back on that spending if I see fit.
« Last Edit: May 31, 2018, 07:20:37 PM by DreamFIRE »

Bateaux

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Re: 2019 fire cohort
« Reply #766 on: May 31, 2018, 09:19:48 PM »
When I first joined MMM years ago 2018 was my proposed Fire year.  I'd hope to be hiking the Appalachian Trail right now.   I've OMY'd to 2019 and since we're buying another house we're probably going to 2020.  Currently in Cabo San Lucas enjoying luxury in a 5 star resort beside the ocean.  I want to live day to day Mustacian but a few weeks a year I'd like to do this. 

2Birds1Stone

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Re: 2019 fire cohort
« Reply #767 on: May 31, 2018, 09:25:38 PM »
I think all of you are posting in the wrong thread now ;)

Trifele

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Re: 2019 fire cohort
« Reply #768 on: June 01, 2018, 04:31:09 AM »
Ok -- I'll give a "skinny FIRE" update to balance out the upthread comments:  :)

I'm currently at 21X bare bones, and hell yes I am going to pull the plug anyway.   I have a small side gig I am keeping, and a spouse who can work if need be, so FIRE here I come.  We live pretty simply, and I think we will figure it out.

It all comes down to Bateaux's comment about work stealing your life.  Yes, exactly.  Out of the blue I was diagnosed with a serious cancer two years ago, and let me tell you -- that shit will change your outlook instantly.  All's well for now health-wise, and I want this time.  Not ten-years-in-the-future time. 

Bateaux

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Re: 2019 fire cohort
« Reply #769 on: June 01, 2018, 07:22:13 AM »
I think all of you are posting in the wrong thread now ;)

Could still be 2019 for us.  We'll see what life sends.

Bateaux

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Re: 2019 fire cohort
« Reply #770 on: June 01, 2018, 07:24:38 AM »
Ok -- I'll give a "skinny FIRE" update to balance out the upthread comments:  :)

I'm currently at 21X bare bones, and hell yes I am going to pull the plug anyway.   I have a small side gig I am keeping, and a spouse who can work if need be, so FIRE here I come.  We live pretty simply, and I think we will figure it out.

It all comes down to Bateaux's comment about work stealing your life.  Yes, exactly.  Out of the blue I was diagnosed with a serious cancer two years ago, and let me tell you -- that shit will change your outlook instantly.  All's well for now health-wise, and I want this time.  Not ten-years-in-the-future time.

Good luck with the cancer.  We've faced that monster as well with our son.  Keeping him with health insurance is part of why we have to OMY.

edgema

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Re: 2019 fire cohort
« Reply #771 on: June 01, 2018, 07:41:36 AM »
Don't take me off 2019! I am very committed to my March date as this is my OMY (perhaps even the second of them.... ish). Maybe it is the luxury of still being 9 month from actually resigning but for some reason I feel much more relaxed that I will not have the same fears going into this date.

I really like the 'work stealing life comment' and is a much better way of putting what I was trying to get across with the 'wrong looking back over life' comment. The difficult thing is that it is hard to feel that viscerally as it is like a mouse nibbling at your time which each day doesn't feel too bad when compared with the massive decision to retire at an age when most think you are mad.

itchyfeet

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Re: 2019 fire cohort
« Reply #772 on: June 01, 2018, 07:49:43 AM »
I often think I am mad.

Beyond DW, I havenít hinted at my plans to anyone.

PhilB

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Re: 2019 fire cohort
« Reply #773 on: June 01, 2018, 09:47:00 AM »
I think all of you are posting in the wrong thread now ;)

Could still be 2019 for us.  We'll see what life sends.
It's going to be interesting to see what proportion of the 'actual' 2019 cohort turn out to be OMYers from 2018 and OLYers from 2020!

Lews Therin

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Re: 2019 fire cohort
« Reply #774 on: June 01, 2018, 09:49:07 AM »
I think all of you are posting in the wrong thread now ;)

Could still be 2019 for us.  We'll see what life sends.
It's going to be interesting to see what proportion of the 'actual' 2019 cohort turn out to be OMYers from 2018 and OLYers from 2020!

None! We'll tell them to get out of our collective yards.

Correction - OLY Are welcome. OMY... Just FIRE already! :D

itchyfeet

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Re: 2019 fire cohort
« Reply #775 on: June 01, 2018, 10:31:01 AM »
🤣

Trifele

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Re: 2019 fire cohort
« Reply #776 on: June 01, 2018, 04:56:21 PM »
Ok -- I'll give a "skinny FIRE" update to balance out the upthread comments:  :)

I'm currently at 21X bare bones, and hell yes I am going to pull the plug anyway.   I have a small side gig I am keeping, and a spouse who can work if need be, so FIRE here I come.  We live pretty simply, and I think we will figure it out.

It all comes down to Bateaux's comment about work stealing your life.  Yes, exactly.  Out of the blue I was diagnosed with a serious cancer two years ago, and let me tell you -- that shit will change your outlook instantly.  All's well for now health-wise, and I want this time.  Not ten-years-in-the-future time.

Good luck with the cancer.  We've faced that monster as well with our son.  Keeping him with health insurance is part of why we have to OMY.

Thanks Bateaux -- appreciate that.  All good right now, knock on wood.  Hope your son is doing ok as well.  And I hear you about insurance.  I can't go without, and we don't know what the future is going to hold.  It is very worrisome.  If the ACA were to totally go away, either I would have to keep working, or my spouse (currently a SAHP) would need to find a job with insurance.  Not the relaxing FIRE we are hoping for.

DreamFIRE

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Re: 2019 fire cohort
« Reply #777 on: June 02, 2018, 02:29:57 PM »

The uncertainty over ACA is one reason I never planned on being a 2018 FIRE cohort.   Stash is not a problem at all for me, hitting a new record of 66X FIRE BB as of yesterday, which gives me plenty for discretionary spending when using a 4% SWR, but that's dependent on ACA PTC.  Without ACA and PTC, healthcare insurance would really bite into what I'm wanting to keep in the discretionary budget.  I'm hoping this final year towards FIRE will provide some confidence on this matter.

FIRE 20/20

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Re: 2019 fire cohort
« Reply #778 on: June 02, 2018, 03:22:25 PM »
We hit a milestone today, crossing over 25x anticipated expenses in retirement in the stache.  That doesn't include the back-up plans we have in place including 2 small pensions, 2 social security checks, an ability to cut expenses if necessary, tentative arrangements for consulting with the company I work for, and doesn't count a likely modest inheritance.  We'd like to fund a donor advised fund this year and that will reduce the funds we have accessible while we wait for the first rung of the Roth ladder to show up in 5+ years, and I'm worried about the current market valuations and the ACA.  Nevertheless, for the first time it is starting to really feel like we will never *need* to work again.  I think I'm feeling about 5% of what I'm going to feel on my last day at work.  OMY has a firm grip on me so I am still planning to FIRE in about a year at age 42, but this feels like a significant milestone. 


itchyfeet

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Re: 2019 fire cohort
« Reply #779 on: June 02, 2018, 09:13:35 PM »
Awesome work. Sounds like you are ready for launch. Let the final countdown begin.

SpareChange

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Re: 2019 fire cohort
« Reply #780 on: June 03, 2018, 09:23:41 AM »
We hit a milestone today, crossing over 25x anticipated expenses in retirement in the stache.  That doesn't include the back-up plans we have in place including 2 small pensions, 2 social security checks, an ability to cut expenses if necessary, tentative arrangements for consulting with the company I work for, and doesn't count a likely modest inheritance.  We'd like to fund a donor advised fund this year and that will reduce the funds we have accessible while we wait for the first rung of the Roth ladder to show up in 5+ years, and I'm worried about the current market valuations and the ACA.  Nevertheless, for the first time it is starting to really feel like we will never *need* to work again.  I think I'm feeling about 5% of what I'm going to feel on my last day at work.  OMY has a firm grip on me so I am still planning to FIRE in about a year at age 42, but this feels like a significant milestone.

Amazing. Almost there! Looks like you've thought everything through pretty well.

Linda_Norway

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Re: 2019 fire cohort
« Reply #781 on: June 03, 2018, 12:19:55 PM »
DH and I talked a bit more about our FIRE date. He likes to have a little more financial security so that a 10-20% crash in the stock market isn't a problem for FIRE.
We also discussed what working PT would cost. We think that working 20% less hours (4 days a week working) would only lead to 15% less income, as we pay high taxes on high income bracket. DH thinks we only need to work 5 weeks longer if we work only 4 days a week from now on. We have decided that I will ask my job to work 4 days a week from half of august. I hope they will accept that. Then DH will ask for the same. I will use DHs heart issues as an argument and say that we need to travel away during the weekends more often.

This plan made my day. As I think we could FIRE somewhere during the first half of 2019, I would mind working only 5 weeks longer, especially 4 days a week.

DH also thinks he wants to continue to work as long as he has his current heart issues. We have normal health insurance by paying our taxes, but the extra health insurance that our companies offer give you a prioritized place for operations. On the other hand, this costs about 700-800 US dollars a year to buy privately, so we could consider to buy it anyway.
« Last Edit: June 04, 2018, 12:13:20 AM by Linda_Norway »

Linda_Norway

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Re: 2019 fire cohort
« Reply #782 on: June 05, 2018, 01:37:56 AM »
I just discovered an error in my Excel sheet. I had a formula calculating how much I would have left in 2019. Somehow I had taken our salaries before taxes, minus all the taxes = savings. I just totally forgot to register the yearly expenses. I corrected the formula and it added 50.000 USD more to our FIRE amount. Therefore I think we cannot quit early 2019 and probably need to work through most of 2019.
DH and I have been discussing asking to work 80% after the summer. I think we will still consider this. We are both tired of working 100%, so this would be good for our sanity anyway. But it will probably move FIRE to 2020. I am already in that 2020 FIRE cohort thread, as I wasn't sure about the date.

itchyfeet

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Re: 2019 fire cohort
« Reply #783 on: June 06, 2018, 12:19:50 PM »
Most Righteous Alias    Age@fire  Target DateOLY/OMY notes and eventually Date Confirmed
MoneyStacher51Jan-19
PhilB53Jan-19moved to Oct 2018, with possible PT through 2019
sui generis41Feb-15-19
zinnie35Feb-19
MissNancyPryor50Mar-19
Roboturner30Mar-19
exit201940Mar-15-19
TartanTallulah55Mar-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 20/2042May-19
Pylortes42May-31-19
Odiedog859062May-31-19
DreamFIREJun-7-19
oldtoyotaJun-19
Itchyfeet47Jun-19
Bateaux50Jun-19
Parizade62Jun-21-19
CryingInThePool44Jun-19
powersuitrecall47Jul-19
Enigma39Jul-19
Thedividebyzero45Jul-19
Canadian Ben29Aug-12-19
Cornbread OMalley42Aug-19
RetirementDreamingSep-19
Spreadsheet ManSep-27-19
VoteCthulu39Oct-19
trix7643Oct-19
MoMan55Oct-19
2Birds1Stone32Jun-1-19
markbike528CBX55Dec-19 OLY 6-1-2018 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

After my minor crisis of confidence at the end of May, I have managed to come to a final decision.

No more doubts. no more hesitation. No more hedging.

We will stick to what was the original plan. June 2019. Could have done that all along and saved months of restless sleeping as I agonised over a December 2018 curtain on my career.

December 2018 just felt uncomfortable. June 2019 feels far better. Just 12 months till the end now.

The little bit extra that weíll save in 6 months seems to have some meaning. So weíll run with that.

Phew!!! Great to close that subject.

Livingthedream55

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Re: 2019 fire cohort
« Reply #784 on: June 06, 2018, 01:12:48 PM »
@itchyfeet    good for you!

I am already at "my number" but am saving right now to further add cushion and safety and piece of mind! A year will be here before we know it!

MaybeBabyMustache

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Re: 2019 fire cohort
« Reply #785 on: June 06, 2018, 05:04:08 PM »
It looks like I will most likely be joining the 2019 FIRE cohort. I was originally scheduled for 6/25/18 (so close!), but a few work things have come up that I would like to see finish. My very tentative date is now 3/25/18.

2Birds1Stone

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Re: 2019 fire cohort
« Reply #786 on: June 06, 2018, 07:27:17 PM »
Fuck, this is the most melodramatic cohort I've witnessed. Makes me want to pull the plug in 2018 with all the cool cats ;)


DreamFIRE

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Re: 2019 fire cohort
« Reply #787 on: June 06, 2018, 08:55:25 PM »
I just discovered an error in my Excel sheet. I had a formula calculating how much I would have left in 2019. Somehow I had taken our salaries before taxes, minus all the taxes = savings. I just totally forgot to register the yearly expenses. I corrected the formula and it added 50.000 USD more to our FIRE amount. Therefore I think we cannot quit early 2019 and probably need to work through most of 2019.

Oh bummer!  I had an error in my spreadsheet a while back.  I noticed the tax numbers didn't look quite right 16 years into the future, and I determined a formula was factoring in the tax on part of those future SS benefits, but another formula added those taxable SS benefits to my AGI and was adding the tax on that figure, so my total tax was incorrectly elevated.  I fixed it, and the change was in my favor, albeit not one that would have changed my FIRE plans.

chasesfish

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Re: 2019 fire cohort
« Reply #788 on: June 06, 2018, 09:07:07 PM »
Fuck, this is the most melodramatic cohort I've witnessed. Makes me want to pull the plug in 2018 with all the cool cats ;)

A few more market days like today might kick some more people back to '18.  I just blew through some of my June 2018 projections

DreamFIRE

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Re: 2019 fire cohort
« Reply #789 on: June 06, 2018, 09:12:42 PM »
@itchyfeet    good for you!

I am already at "my number" but am saving right now to further add cushion and safety and piece of mind! A year will be here before we know it!

I just hit 67X FIRE barebones today, another new record for me.  While I like counting up the numbers and am saving over 80% this year so far, my wait until 2019 is more about ACA/healthcare.  The uncertainty with that is why 2018 was never a consideration for me.  The extra stash is a nice plus, of course.  I won't discount the possibility of OMY to 2020, but my focus is 2019 at this point.... almost exactly one year to my FIRE date.  It doesn't seem so far off now.

itchyfeet

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Re: 2019 fire cohort
« Reply #790 on: June 06, 2018, 09:34:23 PM »
Fuck, this is the most melodramatic cohort I've witnessed. Makes me want to pull the plug in 2018 with all the cool cats ;)


Haha. Itís just the storm before the calm. The RE version of pre-wedding jitters. Next year weíll be cooler than cool.

waffles

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Re: 2019 fire cohort
« Reply #791 on: June 07, 2018, 06:05:09 PM »
I am joining this group for a 2019 retirement!

I've been spending lots of time considering my retirement date (hence the username waffles...too much time spent waffling!). Itchyfeet, everything you posted in May sounded just like my thoughts lol. But I am settling on a date of June 22, 2019. I'll be 52.

I have a high stress job that I am ready to be done with. Part time is not an option. (There is a small chance of retiring September 2018 if the federal government changes retirement rules for 2019 but I think that is unlikely right now.) I was considering Dec.31 2018, but it just didn't feel right even though not going into work anymore sounds so good! Once I came up with the plan of maxing out my TSP contributions in the first half of 2019 and leaving in June, it just felt right. I'm appeasing my financial trepidation by getting my 2019 retirement contributions in, without working a full year...win! All the overtime I am likely to have to work will help pay for those contributions.

Also, DH will retire the end of June 2019...I'll beat him by about a week. Perfect!

I'm so excited I even got a countdown ticker lol.

Trifele

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Re: 2019 fire cohort
« Reply #792 on: June 08, 2018, 04:59:54 AM »
Welcome Waffles!  2019 is going to be a fine year.

PhilB

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Re: 2019 fire cohort
« Reply #793 on: June 08, 2018, 07:34:24 AM »
It's looking increasingly like they are going to offer me a one-day-a-week from home deal for a few months.  On the downside, that means less of a clean break.  On the upside, I get to retire in the autumn with the 2018 cohort and then do it again in the spring with you lot!

Linda_Norway

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Re: 2019 fire cohort
« Reply #794 on: June 08, 2018, 11:22:32 AM »
It's looking increasingly like they are going to offer me a one-day-a-week from home deal for a few months.  On the downside, that means less of a clean break.  On the upside, I get to retire in the autumn with the 2018 cohort and then do it again in the spring with you lot!

This still sounds like a good deal.

DreamFIRE

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Re: 2019 fire cohort
« Reply #795 on: June 11, 2018, 09:05:00 PM »

I never posted my FI or $1M milestones, so I'll post this one.  I hit $1.3M today.  One year to FIRE target date.

itchyfeet

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Re: 2019 fire cohort
« Reply #796 on: June 11, 2018, 09:53:02 PM »
Having made a firm decision, my mind has now shifted to post FIRE. We have big travel plans, and the mind is wandering there.

Between now and then though is a pesky year of work.

I will have quite a few changes to my team over this summer with 2 new direct reports coming on, and some other changes in the team. Hopefully the fresh blood in the team will give me some additional motivation/ inspiration for my last year. I really need to lift my game. Yes, I know it doesnít really matter, but i guess there is some pride at stake..... and you never know what the future might have in store.

Next week we are off to Italy for a wedding. This whole destination wedding fad is really pretty selfish, even though I recognize it is the bride and grooms special day and they have dreamt of this for a long time. I will be part of the bridal party and flights, car rental, my new tailored suit, DWs new frock and shoes etc are costing a bomb. Despite all that, itíll be awesome to see 2 of our best friends tie the knot..... and really who can ever complain about a few days in Italy. I am sure it will be a memorable trip.



MaybeBabyMustache

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Re: 2019 fire cohort
« Reply #797 on: June 12, 2018, 07:53:41 AM »

I never posted my FI or $1M milestones, so I'll post this one.  I hit $1.3M today.  One year to FIRE target date.

Awesome!

Cornbread OMalley

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Re: 2019 fire cohort
« Reply #798 on: June 12, 2018, 04:42:18 PM »
I announced on June 1st to the head shed my intent to retire from the military.  The big boss and second-in-charge seemed very supportive.  Today I scheduled two 3-hour briefings on June 21st.  Those briefings will lay out the tasks and requirements I will need to do over the next year to retire from the military.  It's going to be a busy year ahead!

SpareChange

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Re: 2019 fire cohort
« Reply #799 on: June 13, 2018, 10:56:39 AM »
I announced on June 1st to the head shed my intent to retire from the military.  The big boss and second-in-charge seemed very supportive.  Today I scheduled two 3-hour briefings on June 21st.  Those briefings will lay out the tasks and requirements I will need to do over the next year to retire from the military.  It's going to be a busy year ahead!

Congrats!