Author Topic: 2020 FIRE Cohort  (Read 94355 times)

mlbfan07

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Re: 2020 FIRE Cohort
« Reply #150 on: May 02, 2016, 07:15:16 PM »
Great post! And what better way to join MMM then my first post to be on my FIRE plans!

FI 2020
RE 2023

To be more specific - FI on 1/8/20.  RE about 3 years later on 9/9/23. The day before I turn 50. (or to sound better - in my late 40's).

Looking forward to hanging with all of you for the next handful of years!

FIREby2021

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Re: 2020 FIRE Cohort
« Reply #151 on: May 11, 2016, 07:21:04 PM »
OK - swinging for the fences here.

2021 is my namesake and comfortable target, but we are really shooting for 2020 as a stretch goal.

48 months left  :-)

Maybe I'll do a journal or something, but glad to follow along with this cohort.

golfreak12

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Re: 2020 FIRE Cohort
« Reply #152 on: May 18, 2016, 12:01:29 PM »
I'm holding on...  Very tired of working.  I have already started optimizing the job - I work 3 days a wk (8hr days.).   Wonderful co-workers.  Meaningful work that helps others.  I hate it.  I know!  What the hell is wrong with me? 


This is me right here.
My original FIRE cohort was 2025 but I don't know if I can last that long. I was trying for another 10 yrs so I can have a small pension to go along with everything else but 10 yrs seems like an eternity.
In 2020, I'll be 50. A perfect age for FI and I can gradually work toward ER.
We're sitting at around $600K NW right now and if it grows to $800K by 2020, we would to good for 2020.
Another $200k can easily be done but my wife doesn't work right now and she's about to transfer to a state school where tuition will be double. She should be graduating 2018 so if she get a decent job after that, I can go into semi-ER.
YEAH, 2020 sounds a whole lot better than 2025.

FIREby2021

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Re: 2020 FIRE Cohort
« Reply #153 on: June 02, 2016, 09:57:28 AM »
OK - swinging for the fences here.

2021 is my namesake and comfortable target, but we are really shooting for 2020 as a stretch goal.

48 months left  :-)

Maybe I'll do a journal or something, but glad to follow along with this cohort.

OK - 47 months to go, took another positive step:

Apr 2016:   57.7% to FI
May 2016:  58.5% to FI

* FI defined as 3% SWR and mortgage-free

Hope y'all have had a nice month!

fishnfool

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Re: 2020 FIRE Cohort
« Reply #154 on: June 02, 2016, 10:53:05 AM »
My target retirement date is June 1st 2020, it feels great to be under the 4 year mark!

Good health and happiness to all of you 2020 cohorts!

Aloha

BFGirl

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Re: 2020 FIRE Cohort
« Reply #155 on: June 02, 2016, 12:25:38 PM »
I'm at the end of 2020, so it will feel good at the end of this month when I am closer to 4 years than 5

FIREby2021

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Re: 2020 FIRE Cohort
« Reply #156 on: June 03, 2016, 09:20:27 AM »
Nice, fishnfool, I didn't think about that but a "glass half full" way of viewing my 47 month estimate is now I can say "3 years and 11 months" ... It's the little things I guess :-)

BFGirl - 4.5, then 4 years, those mile markers will be behind you before you know it!

Maenad

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Re: 2020 FIRE Cohort
« Reply #157 on: June 04, 2016, 07:07:53 AM »
We're aiming for 2020 as well - me in April, DH in July after we each get our bonuses. FI should be in 2019, then a year of saving for possible multi-month trip to Europe, a camper if we feel like taking up road-tripping at some point in ER, and re-siding the house.

The last year has been discouraging with the stagnant S&P, since that's where most of our stash is, but we've been focusing on what we can control rather than what we can't. I've heard the suggestion to track progress by number of shares rather than their value, if frustration sets in. Not a bad idea!

deeshen13

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Re: 2020 FIRE Cohort
« Reply #158 on: June 04, 2016, 02:28:59 PM »
We're aiming for 2020 as well - me in April, DH in July after we each get our bonuses. FI should be in 2019, then a year of saving for possible multi-month trip to Europe, a camper if we feel like taking up road-tripping at some point in ER, and re-siding the house.

The last year has been discouraging with the stagnant S&P, since that's where most of our stash is, but we've been focusing on what we can control rather than what we can't. I've heard the suggestion to track progress by number of shares rather than their value, if frustration sets in. Not a bad idea!

The S&P500 total return YTD is 3.71%.  Compounded over 12 months, that's an annualized return of 8.90%.  That's barely off the historical nominal return, and if we can get it going forward - given higher valuations and lower growth - we should be fist pumping!

It sometimes feels like it's stagnating because the market just bounces around, up and down each day, but the numbers don't lie. Additionally, fixed income is up roughly the same or higher, as well.  You can't expect to get rich quick, but you can expect to build wealth slow! :)

Happy investing and saving all.  Oh, incidentally and apropos to my first post in this thread - I'm on the 2020 FIRE train too, just as I hit 30!

RedefinedHappiness

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Re: 2020 FIRE Cohort
« Reply #159 on: June 05, 2016, 09:29:24 AM »

[/quote]

Happy investing and saving all.  Oh, incidentally and apropos to my first post in this thread - I'm on the 2020 FIRE train too, just as I hit 30!
[/quote]

Wow!  At 30 that is impressive.  Probably also tough to plan for your future cash needs at such a young age? 

deeshen13

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Re: 2020 FIRE Cohort
« Reply #160 on: June 05, 2016, 11:02:06 AM »
Thanks! Yes, tons of unknowns and to be honest it's more of an FI than RE, and more of a barebones than complete cash flow coverage. Nonetheless, the option to RV for a few years or backpack around before life gets too serious is very motivating. I could definitely see doing that for a bit and then rejoining the workforce. Or not of course :)

Edit: Basically I'm fine with just putting myself in a good position and then being dynamic/flexible to roll with the tide given the unknowns.
« Last Edit: June 05, 2016, 11:03:41 AM by deeshen13 »

RedefinedHappiness

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Re: 2020 FIRE Cohort
« Reply #161 on: June 05, 2016, 12:01:52 PM »
Thanks! Yes, tons of unknowns and to be honest it's more of an FI than RE, and more of a barebones than complete cash flow coverage. Nonetheless, the option to RV for a few years or backpack around before life gets too serious is very motivating. I could definitely see doing that for a bit and then rejoining the workforce. Or not of course :)

Edit: Basically I'm fine with just putting myself in a good position and then being dynamic/flexible to roll with the tide given the unknowns.

Makes sense. I was curious because I have been thinking about the uncertainty as I plan for 2020. But I'm 11 years older than you. Sounds like you have the right approach. Flexibility  that FI brings opens up a lot of options.

FIREby2021

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Re: 2020 FIRE Cohort
« Reply #162 on: July 01, 2016, 10:44:26 AM »
Well, June closes out a GREAT month of progress toward FI.
Another notch down - 46 months to go!

Apr 2016:   57.7% to FI
May 2016:  58.5% to FI
Jun 2016:   61.1% to FI

* FI defined as 3% SWR and mortgage-free

A great 4th of July weekend to all!

Half Stached

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Re: 2020 FIRE Cohort
« Reply #163 on: July 02, 2016, 11:37:50 AM »
Hello, everyone!

I've been lurking for a year... and it's been inspiring seeing everyone on this journey. We're looking at a FIRE date of April 2020, with a stretch goal of 2019. Over the past year we've gone from 41.6% to 53.7% of our FI target.

sidestache

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Re: 2020 FIRE Cohort
« Reply #164 on: July 04, 2016, 04:13:19 AM »
Add me to the list!! 2020 FIRE!!

2016 has been my best year so far on this mission and in 2020 I'll be turning the big 4-0...so seems like a great time to get away from the cubicle and out away for more adventures in life. Numbers wise the end of 2019 is currently looking very doable! :)

HappyMargo

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Re: 2020 FIRE Cohort
« Reply #165 on: July 09, 2016, 04:10:55 PM »
Checking back in one year later for progress report.   

-- Still on schedule for 2020 FIRE. 
Mortgage will be paid off & we should have reached 4% SWR in savings. 

-- In fact, when I first signed up for Class of 2020, I plotted a graph of investment milestones to hit & we are actually ahead of that!

-- Over the past year, I've found even more ways to cut spending. It feels like it's getting *easier* or *more natural* the longer I flex my Frugal Muscles.
Hubby is still quite a spendy-pants by MMM standards, but is doing much better than the typical American consumer.  I keep working on him, but he has his limits.

-- my 16 year old VW Jetta station wagon is still going strong, looks great & I keep miles low by doing all my errands by bike!

-- 50% of work days, I now commute by bike to work.  I'm getting in better shape & makes for fun conversations with bike-happy co-workers.

-- I now have just 1,536 days till FIRE. 
Or if I remove weekends & other days off, 878 working days till FIRE!
Enjoying the journey (& bike ride!) to FIRE.

markbike528CBX

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Re: 2020 FIRE Cohort
« Reply #166 on: July 09, 2016, 05:14:19 PM »
-- . It feels like it's getting *easier* or *more natural* the longer I flex my Frugal Muscles.

Shouldn't it be  "my Frugal MusclesTM  "?   :-)

I'm posting as my date is 12/29/19, which is close enough, and depending on Semi-Big corp bureaucracy, might be 2020.

Also, this thread is a lot peppier than 2019.

HappyMargo

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Re: 2020 FIRE Cohort
« Reply #167 on: July 10, 2016, 06:00:45 AM »
Haha!  Markbike,  I like the TM.  Thanks!

And, please people, no face-punches for *only* bike commuting to work 50% of the time...it's FAR!
Round trip is 26 miles (42 km) and I'm just not in good enough shape to do it every day.  But I'm improving all the time.  (And still take my dog running on the other days.)

Also, some days I have to leave the house by 4:45 AM & ride in the dark.  I have a headlight & taillights, but my husband hates when I do this.  He's always afraid some texting/ snap-chatting/ instagramming driver is gonna take me out in the dark.  So I try to ride every day that my first assignment is after sun rise!

(I'm thinking major snow-falls may be a detriment come winter time too.  But we'll see!)
Enjoying the journey (& bike ride!) to FIRE.

Trudie

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Re: 2020 FIRE Cohort
« Reply #168 on: July 11, 2016, 01:26:03 PM »
My DH, now 55, is supremely frustrated with his current job in higher education.  We had sort of thought we'd finish out our careers here, and now that's looking less likely due to some leadership changes and enrollment challenges -- mostly things out of our control.  While I wouldn't call the environment toxic (yet), I do think he's in a difficult position.  So, I've encouraged him to (1) first seek a new position where he's at; and if that doesn't come to fruition (2) we can relocate.

I realize the challenges with #2 -- especially since he is in a specialized field -- but I'm encouraging flexibility at this point.  I wouldn't call this "OMY" syndrome at all.  Many people at the end of their careers want to go out doing something they care about.  Something they know they can make a mark in.  If this makes a person feel more self-actualized, or happier... I get it.  I think if he feels he puttered to the finish line he'll have a harder adjustment to retired life.  He still has passion and energy for his field, I just think he might be better off somewhere else.

I think it would be easy for us to match or improve our salaries elsewhere, and I am not even horribly concerned about some short term "blips" in retirement saving.  We've read enough, have super-frugality skills, and could even downsize to a less costly house or condo, most likely (these are things we've wanted to do anyway.)  Also, we'd long ago decided that we didn't want to stay where we're at in FIRE.  So, we may no longer be in the 2020 cohort... on paper we are, but in practice we may go a couple of years longer.

TheContinentalOp

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Re: 2020 FIRE Cohort
« Reply #169 on: July 14, 2016, 07:17:16 AM »
Today for the first time ever my NW is 25x my spending for the previous year. (That's 75% of my FIRE goal). Still on track for April 2020.

HappyMargo

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Re: 2020 FIRE Cohort
« Reply #170 on: July 15, 2016, 05:14:42 AM »

-- I now have just 1,536 days till FIRE. 
Or if I remove weekends & other days off, 878 working days till FIRE!

Or another way to look at it... 109 paychecks left!
Enjoying the journey (& bike ride!) to FIRE.

FancyNest

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Re: 2020 FIRE Cohort
« Reply #171 on: July 15, 2016, 02:20:24 PM »
Hello - OP here – every one of the posters and lurkers in this thread has taken steps to increase the speed at which you’re traveling to FI/RE/FIRE and it’s been awesome to see the growth of frugality muscles first hand.

Sharing some of my personal developments over the past year:

• I got fired. 
  Getting downsized from my previous corporate IT job at a national retailer and starting my own
  consulting business resulted from the change – it’s essentially the same work, a few more working hours
  a week, but for 50%   
  more pay (and getting paid hourly!).  Office is now a 10 minute bike ride away – since we don’t even
  come close to living paycheck to paycheck the uneven paychecks don’t really matter, neither does taking
  a few months between assignments – hasn't happen yet, but if it does - surprise vacation!

      o Wife carrying health insurance makes this possible (now would be a good time to recognize to
         her and anyone listening that she’s awesome)

• Realizing I have FU money – I cannot even begin to tell you how much easier it makes life knowing that we *could* survive for years happily on my wife’s salary alone with the 4% of our current stash. 

      o    Work has become less clang and clatter and is now a more considered experience.  My current client
         asked me to travel 50% of the time, I told them it sounded fun, but I wouldn’t be able to.  Did they
         still want my services?  Yes, they said they could make an exception and let me work from a work
         location within biking distance. FU money and the position of strength.

• Health has improved

      o    Went from car commuting 43 miles in a day to bike commuting 6 miles per day, including taking
         both kiddos to school in the double bike trailer of the gods that we were able to buy after selling our
         second car
     
      o    Less sitting on my butt has certainly made a difference, as has less traffic angst

      o    At my last physical, I was down to 202 from 211, my resting heart rate and blood pressure were
         both down
     
      o    Our new place has a gym and there’s a constant stream of runners going past our place gently peer
         pressuring us to get out and enjoy the neighborhood with a run

• Moved Houses
     
      o Proximity - Now we’re across the river from my downtown employer and so much closer to wife’s
         work and kids daycare – we spent months of conversation determining whether it was a good idea to
         sell our house of 7 years and move to a rental that basically triangulated equidistant trips for each
         of our work/daycare trips – fantastic move so far.

      o Selling the house - Lots of effort to de-clutter and move houses/prep for sale and work full time with
         full time kid responsibilities but since we didn’t have tv to get in the way, I really wasn’t using those
         hours between our kid’s bedtime and midnight anyway – so I got to work – we are closing next
         Tuesday – bought the place for 119k as a foreclosure, DIY rehab, selling for 268k after ~90k in
         renovations.  So not a home run, but definitely a wealth builder and wonderful learning opportunity
         as I ended up doing almost everything except for the roof and building the new kitchen cabinets with
         my wife and family member who were game to use power tools.
 
      o Renting - We basically did exactly the approach that MMM wrote about when he talked about the
         2,300/mo apartment in downtown Toronto that is actually a better deal lifestyle and hidden cost-
         wise than a suburban home  http://www.mrmoneymustache.com/2015/07/27/rent-vs-buy/
 
      o Similar costs – our monthly housing payment did go up about 50%, which has been offset by 
        dropping down to one car and not paying for parking anymore at my wife’s work.  She even got a
        sweet new hybrid bike for hauling the kiddos and making her commute – I still happily rock my
        Orange 1980’s steel frame.

      o Hidden benefits – we aren’t sure where the kids should go to school, so renting buys us time and
        flexibility to determine which neighborhood to move into and set down roots, without having any
        artificial deadlines or long lead times weighing down our next move – there’s a comfort in knowing
        we can drop our rental with 30 days’ notice.  Now, if only we can find time to clean out the closets
        that are of course still a mess after moving in and getting settled – one thing at a time.  We would
        never have freed up enough mental space to work through the public school lottery system and all of
        its byzantine ins and outs and find a “forever” home in our previous life situation.

I feel good about my current situation and more confident than ever that 2020 is my FIRE date.  Balancing this is that selling a house and moving a family is emotionally hard - getting laid off is, too. Can't wait to FIRE myself and get down to the business of fundamentally improving the energy efficiency, convenience, safety and security of homes using emerging materials and technology - only a few more years left to dial that idea in and take some test runs.

Wishing you continued success and at least one more good equity buying opportunity before we hang them up in 3.5-4.5 years!
« Last Edit: July 15, 2016, 02:23:17 PM by FancyNest »
FIRE estimate June 1 of 2020 at age 38.

Transitioning slowly out of corporate IT into home renovations. Focusing on energy efficient upgrades for urban homeowners as my RE plan.

Trudie

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Re: 2020 FIRE Cohort
« Reply #172 on: July 15, 2016, 02:34:31 PM »
Hey @FancyNest, thanks for the update.  It's uplifting to read about the positive changes you've made in your life.  It's also refreshing to hear you acknowledge that even though you had FU money and could make these decisions from a position of strength that getting laid off was difficult and something you had to process emotionally.  My husband and I would be in a position of strength if something happened to either one of our jobs, and even though we look forward to FIRE we are quite candid that it's much better when you can leave a job on your own terms.  I've been through a couple of lay-offs and know that it can take some time to recover.

FIREby2021

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Re: 2020 FIRE Cohort
« Reply #173 on: July 31, 2016, 09:22:07 PM »
Closed out July, took a small step back driven by our energy holdings, but we hit all our savings goals and did well on spending.
We are starting to put thoughts together around selling the house & moving to a rental scenario for 2017.

Still ahead of schedule and the countdown is now @ 45 months to go!  Hope y'all are surviving the summer HEAT!

Apr 2016:   57.7% to FI
May 2016:  58.5% to FI
Jun 2016:   61.1% to FI
Jul 2016:    60.6% to FI

* FI defined as 3% SWR and mortgage-free

FrugalFarmer

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Re: 2020 FIRE Cohort
« Reply #174 on: August 05, 2016, 12:11:19 PM »
Assuming I don't become any more badass or receive any raises between now and then, I am on track to be FI by 2020.  I will be 36 years old.  That said, I'm doing everything in my power to reach FI even sooner!  In my case, I consider FI to mean having my food, shelter, and basic necessities covered by passive income.  I plan to continue working after my FI date, so any optional purchases will have to fall within the fully optional income I choose to accept for said work. I will become fully self employed and free to pursue only the work that is interesting to me. Basically, I'm building an infinite stream of "fuck you money"! 

dreams_and_discoveries

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Re: 2020 FIRE Cohort
« Reply #175 on: August 09, 2016, 10:46:02 AM »
Some great progress here, although my FIRE date is 2021 currently, I'm love for it to be brought in a bit to 2020.

This could be possible, especially if I do something like TEFL for a year and don't need money to live on....


FIREby2021

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Re: 2020 FIRE Cohort
« Reply #176 on: September 01, 2016, 09:49:24 AM »
OK, August is behind us.  It's stretches like this that make me begin to question whether 2Q-2020 will really be possible vs. the original target of 2Q-2021.  We hit our monthly savings goals again, however this was largely offset again by energy holdings (pullback vs. recent peak in July 2016).

We are still ahead of our initial 2021 "schedule", and continue adding fuel (savings) to the "fire" :-)  Market outlook is a shallow September pullback followed by continuation higher through EOY.  Possible shift to a temporary defensive posture heading into 1Q-2017 depending on how that unfolds.

Still thinking over the proposition of selling the house & moving to a rental for 2017.  Countdown shows 44 months to go!

Apr 2016:   57.7% to FI
May 2016:  58.5% to FI
Jun 2016:   61.1% to FI
Jul 2016:    60.6% to FI
Aug 2016:  60.7% to FI

* FI defined as 3% SWR and mortgage-free

Rubyvroom

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Re: 2020 FIRE Cohort
« Reply #177 on: September 01, 2016, 01:08:57 PM »
I will be honest that my FIRE/YMOYL spreadsheet shows May 2021 as our FIRE date. I do not accept that! Ha! We’re nearing a 50% savings rate but I’m convinced we still have more fat to trim.

My husband is getting so exhausted with work. It completely drains him. He swears he would love to retire early, but still buys one $2 lottery ticket each week and says my early retirement books and ideas “sound good on paper.” I don’t think he quite believes retiring early is possible. I told him he’s underestimating my ninja spreadsheet skills and we’ll see which method wins… lotto or FIRE. For $104 a year though I stopped short of asking him to stop wasting money on tickets… choose your battles and all that.

I am still aggressively shooting for 2020. It might be a stretch goal, but I know I can find more in groceries, restaurants/eating out, and gifts. I still have a few thousand dollars budgeted for a vacation each year that I personally would do without just to shave time off, but I don’t want to make the hubby feel deprived. We’re in this together man, I can’t have him burning out on me.

I budgeted a few thousand a year to cover home/car maintenance/projects. Those are hard to forecast but I’m hoping we can come in lower than that on average. I’ve biked to work 3 times so far, 15 miles round trip – I think I can pull it off on a fairly regular basis, excluding maybe the worst days of our Minnesota winters, so that will help with auto/gas/fitness costs. I also stopped drinking booze after a come to Jesus moment after tracking and reviewing how much I was spending. I will lead by example right now, eliminate the excess for my wallet and my health, and will merely plan to buy a mighty fine bottle of wine to celebrate on my last day of working for someone else...

Overall, I think my forecast is conservative, so I truly believe we can hit 2020 with a bit of diligence on our part. 2020 is a nice round number of a year. My husband will be 40, I’ll be turning 39. I think there is quite a psychological benefit to say we retired “by 40,” so that’s the goal, spreadsheet be damned. I think I left us enough room to maneuver.

BFGirl

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Re: 2020 FIRE Cohort
« Reply #178 on: September 01, 2016, 02:37:47 PM »
I'm still waiting around to be able to take my pension at the end of 2020.  Four years and four months to go!!

However, there is a possiblity that I may switch fields completely but still stay within my government entity.  If that happens, I think I will be much more satisfied and engaged at work, so I might even stay longer :)

If the new job doesn't happen, I'm outta here at the end of 2020!

dreams_and_discoveries

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Re: 2020 FIRE Cohort
« Reply #179 on: September 03, 2016, 05:35:15 AM »
I will be honest that my FIRE/YMOYL spreadsheet shows May 2021 as our FIRE date. I do not accept that! Ha! We’re nearing a 50% savings rate but I’m convinced we still have more fat to trim.

Me too.....I do have load of fat I could trim, and it should be Feb 2021, but I'm sure I can make August 2020. And I think after 2 years travelling, I might even not mind picking up another contract and doing OMY as a back up plan.


Maurits28

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Re: 2020 FIRE Cohort
« Reply #180 on: September 15, 2016, 01:46:09 PM »
Our goal is FI on December 31, 2020. I'll be just 39 and DW 36. I say OUR goal as since half a year it became our plan, and we both believe in it. The spreadsheet counter is currently at 24.5% stash-completeness. I estimated a conservative 3.5% return on investments, in this way I mitigate inflation over time. Pension kicks in at 67, moderate income from one property. One small property paid off to live in, but more money will be needed to suit family needs etc.

Currently we can stash fast, 2016 we aim on a NW increase of $ 120K. Unfortunately I might loose my current high paying job, next months should give more clarity and that will definitely influence the FI date. In terms of spending, so far there is quite some fat on the bones, as of 2017 we will start saving more, making a groceries budget, maybe skipping big intercontinental holidays (in one month we go for two weeks to Japan on holidays!!) etc.

Not planning to RE, however not working for a slave corporate job anymore for sure. But self-employed consultancy, entrepreneuring etc.

Love to read about everybody's personal plans, challenges, ideas, achievements. Very inspiring, and most of the time 10x more badass than what we are trying to achieve so far. Our muscles need to be trained a bit more..

zoomzip

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Re: 2020 FIRE Cohort
« Reply #181 on: September 16, 2016, 02:33:15 PM »
Throwing my hat into the ring here.  Depending on the final dollar amount I settle on for RE, it should be Mid-Late 2020, barring any massive downturns.  My stache is right around 50%,  but I am entering into some pretty big saving/earning years (have a stable house after buying a new home twice in 3 years, promotion at work, dialed in savings etc.), I am currently 37, so while it wouldn't be RE prior to 40, it is just after which is great.

I am pretty impatient at this point - its hard to focus and stay ambitious at work.


Rubyvroom

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Re: 2020 FIRE Cohort
« Reply #182 on: September 16, 2016, 05:58:24 PM »
...its hard to focus and stay ambitious at work.

This. So much this. I am having that same problem.

The part in YMOYL where it said you will like your job more and want to work harder now that you realize you're only stuck there for a limited amount of time... I call bs to that haha. Some days are better than others I suppose.

FIRE 20/20

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Re: 2020 FIRE Cohort
« Reply #183 on: September 17, 2016, 07:56:30 AM »

My GF and I are aiming to retire at age 45, which will be 2021.  While the details are different, we're in the same position as TheContinentalOp.  We could survive if we both quit today, but we'd need to severely scale back on everything except basic living expenses.  In 2-3 years we could travel, participate in our (not cheap) hobbies, and maintain our charitable contributions at a moderate level.  Hopefully if all goes well, in 2020 we'll be able to do almost everything we enjoy at just below a 4% withdrawal rate. 

I know I'm going to really struggle with OMY syndrome.  We both work in a field in which it's critically important to be very up to date on the current technologies, certifications, and processes.  Once we quit, we won't be able to earn very much in our chosen careers, and we don't have any experience with other kinds of work.  When we're done, we're done, so we will probably have a larger buffer than most here.

Wow - 15 months have passed since I wrote this post.  Lots of things have changed in our lives, but we're still basically on track.  We purchased a house for my mom to live in nearby.  This could be a long story, but in short she was in a horrible location far from family and didn't have the resources to get herself out.  It caused a financial hit to us in the short term, but over the past year we've helped her get her finances in order and once she's on her feet she'll be able to support herself.  She should be in a very good place financially in about 1 year, and now she's close to family and much happier.  It was definitely the right decision even with the monetary impact. 
Even with that, our invested assets and net worth increased $120k over those 15 months.  Some of that was growth and some was contributions; I don't know what the portion was of each.  I could figure it out, but I don't really care.  Whatever the ratio is we're still on track.


And I still know I'm going to be in a OMY mindset.  As I mentioned before, once we quit it will be very hard for us to go back to the only career either of us has known so we're going to make sure we have no need for any kind of income once we're finished.

Livewell

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Re: 2020 FIRE Cohort
« Reply #184 on: September 23, 2016, 01:12:52 PM »
Hi everyone,

still cranking away - our goal is to get to a comfortable number sometime in 2020, just in time to send our youngest off to Kindergarden (no more preschool checks, our #1 expense!).   

Since I last wrote, we've gotten through the "we could sell and move to a LCOL and FIRE" barrier, and just passed 75% of our end target (defined as 4% SWR of last three year average spending).   Savings rate this year will dip a bit to 65% of take home, needed to do some one time work on the house and the wife needed a minivan for the little ones.   Looking to be a strong finish, especially if we see an upswing in the market (not that I'm timing).   My wife, currently a stay at home mom with our youngest, may go back to work next year as well, part time, which would help however it's great not feeling the pressure to get her back into the work force.   

Toughest part is still knowing it's close yet a few years off.   I have a lot of flexibility in my job and finding I'm using more of that (as long as the numbers are good, which they are).   I have to watch myself being a bit too honest in my responses to my boss.   I've struggled a bit with just wanting to get it all over with and move on, focused a lot on articles and stories and posts about just relaxing a bit and being ok with the ride - it's important to put in context that while my goal is to leave the full time work world far after what most of the folks on this web site are, I'm still talking about doing it in my mid-40s, in good health, and most of the work has already been done.   Very important at this stage I think to enjoy the end of the ride, my metaphor is that last couple miles of a (half in my case) marathon where you know what your time is more or less going to be and you can just let it all go as you roll towards the finish.   

Hope everyone else is doing good out there! 

« Last Edit: September 23, 2016, 01:37:41 PM by Livewell »

DailyGrindFree

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Re: 2020 FIRE Cohort
« Reply #185 on: September 24, 2016, 01:16:48 PM »
Hi everyone, we are Mr. & Mrs. DailyGrindFree (http://www.dailygrindfree.com), I am in my late 40's and she is in her early 40's. We just got started to get serious about early retirement several months ago. We already have some accumulated for our retirement and hoping to retire some time in 2020. I didn't do the specific math and read about portfolio theory until just a few months ago. Since we realized that it was attainable if we lower our expenses and be smart with our money we decided to shoot for 2020. If we need additional income I can always work part time for a few more years. My ultimate goal is to be done with cubicles and 9-5 routine as soon as I can. Then travel and do whatever else tickles our fancy. :-)

Here is where we stand as of today: http://www.dailygrindfree.com/net-worth/ .

Livewell

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Re: 2020 FIRE Cohort
« Reply #186 on: September 30, 2016, 03:24:31 PM »
Hi all

ran into this "glide path" post and thought I'd link to it in case you all missed it. 

I've been trying to come up with a plan for post-FIRE money management, one where I could just put it to bed and get to the real stuff.   I think this is a great concept for that.

http://forum.mrmoneymustache.com/post-fire/using-the-rising-equity-glidepath-to-reduce-sequence-of-returns-risk/

Half Stached

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Re: 2020 FIRE Cohort
« Reply #187 on: October 01, 2016, 12:27:55 PM »
Hello, everyone!

I've been lurking for a year... and it's been inspiring seeing everyone on this journey. We're looking at a FIRE date of April 2020, with a stretch goal of 2019. Over the past year we've gone from 41.6% to 53.7% of our FI target.

It's been a good quarter! We've eliminated over 35K of expected short term expenses (over the next four years) and improved our FIRE modeling which happened to bring our target number down. We've also made minor improvements to our long term spending. Between all this we're now looking at a target of April 2019, with a fallback plan of April 2020 (April is the month due to my annual bonus payout). We're sitting at 60.7% of our updated FI target. Getting closer...

FrugalFarmer

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Re: 2020 FIRE Cohort
« Reply #188 on: October 05, 2016, 08:46:41 AM »
My FIRE forecast date is steadily creeping forward as I continue to reduce my expenses and expand my side hustles.  Current prediction is January 2020.  I'll be 36.  Loving my growing independence, both financial and otherwise.  My cube job feels like water torture sometimes, but it is powering me forward.  DH is learning to install solar panels so we can become energy independent next month.  DIY installation is about a 50% savings over paying someone to install the panels!  We already use a private well and septic, and I am building up our permaculture "food forest" farm with the goal of being mostly food independent as well.  DH is not trying to FIRE, but he is becoming very supportive of my savings efforts. 

Exhale

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Re: 2020 FIRE Cohort
« Reply #189 on: October 06, 2016, 08:33:17 AM »
My FIRE forecast date is steadily creeping forward as I continue to reduce my expenses and expand my side hustles.  Current prediction is January 2020.  I'll be 36.  Loving my growing independence, both financial and otherwise.  My cube job feels like water torture sometimes, but it is powering me forward.  DH is learning to install solar panels so we can become energy independent next month.  DIY installation is about a 50% savings over paying someone to install the panels!  We already use a private well and septic, and I am building up our permaculture "food forest" farm with the goal of being mostly food independent as well.  DH is not trying to FIRE, but he is becoming very supportive of my savings efforts.

This sounds interesting. Could you explain what it is and/or what foods you have in your forest?

FrugalFarmer

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Re: 2020 FIRE Cohort
« Reply #190 on: October 06, 2016, 08:54:39 AM »
My FIRE forecast date is steadily creeping forward as I continue to reduce my expenses and expand my side hustles.  Current prediction is January 2020.  I'll be 36.  Loving my growing independence, both financial and otherwise.  My cube job feels like water torture sometimes, but it is powering me forward.  DH is learning to install solar panels so we can become energy independent next month.  DIY installation is about a 50% savings over paying someone to install the panels!  We already use a private well and septic, and I am building up our permaculture "food forest" farm with the goal of being mostly food independent as well.  DH is not trying to FIRE, but he is becoming very supportive of my savings efforts.

This sounds interesting. Could you explain what it is and/or what foods you have in your forest?

Sure!  Permaculture farming is based on the idea of designing a mostly self-sustaining food production ecosystem where every element supports the needs of some other element in the system.  A classic example would be the "three sisters" farming system developed by the native Americans.  Corn, beans, and squash are planted together so that corn provides a natural trellis for the bean, bean provides nitrogen for corn and squash, and squash provides natural mulch for the corn and bean.  Permaculture also makes use of a lot of permanent crops like fruit and nut trees.  I am just getting started, so I don't have much growing yet.  I do have mulberries, blackberries, raspberries, walnuts, and hickory nuts thanks to a previous owner.  I'll be adding lots of native fruit and nut trees like pawpaw, persimmon, pecan, and other low-maintenance permanent edibles such as hardy kiwi, currant, American grape, medlar, etc.  I'll be including chickens and honeybees next year, and eventually sheep.  I have a blog if you care to check it out further!  http://strawberrymoonfarm.com

robtown

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Re: 2020 FIRE Cohort
« Reply #191 on: October 07, 2016, 01:18:56 PM »
My date is March 2020, moved out from 2019.   My DW retires early 2018 when we are mortgage free.   We should have a comfortable income by 2020.
 If I continued until 2023 we'd have much more money  but I am tired and ready to quit today.   Perhaps I'll find another job that is more satisfying and easier to handle for 3 and a half more years.    I may try to go part time in 2020,  or even earlier,  since having more free time would be very refreshing.

Exhale

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Re: 2020 FIRE Cohort
« Reply #192 on: October 07, 2016, 02:28:23 PM »
My FIRE forecast date is steadily creeping forward as I continue to reduce my expenses and expand my side hustles.  Current prediction is January 2020.  I'll be 36.  Loving my growing independence, both financial and otherwise.  My cube job feels like water torture sometimes, but it is powering me forward.  DH is learning to install solar panels so we can become energy independent next month.  DIY installation is about a 50% savings over paying someone to install the panels!  We already use a private well and septic, and I am building up our permaculture "food forest" farm with the goal of being mostly food independent as well.  DH is not trying to FIRE, but he is becoming very supportive of my savings efforts.

This sounds interesting. Could you explain what it is and/or what foods you have in your forest?
Sure!  Permaculture farming is based on the idea of designing a mostly self-sustaining food production ecosystem where every element supports the needs of some other element in the system.  A classic example would be the "three sisters" farming system developed by the native Americans.  Corn, beans, and squash are planted together so that corn provides a natural trellis for the bean, bean provides nitrogen for corn and squash, and squash provides natural mulch for the corn and bean.  Permaculture also makes use of a lot of permanent crops like fruit and nut trees.  I am just getting started, so I don't have much growing yet.  I do have mulberries, blackberries, raspberries, walnuts, and hickory nuts thanks to a previous owner.  I'll be adding lots of native fruit and nut trees like pawpaw, persimmon, pecan, and other low-maintenance permanent edibles such as hardy kiwi, currant, American grape, medlar, etc.  I'll be including chickens and honeybees next year, and eventually sheep.  I have a blog if you care to check it out further!  http://strawberrymoonfarm.com

Thank you - on my way over to your blog!

FIREby2021

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Re: 2020 FIRE Cohort
« Reply #193 on: October 09, 2016, 11:17:05 AM »
Another month in the books, slow steady progress continues.  FWIW, our ideal target is May-2020, after revising early this year from a 2021 estimate.  Just back from a wonderful vacation week up in WA state and feeling refreshed.  Thanks for your blog link FrugalFarmer ... we enjoy gardening and are always looking for ways to "grow" :-)

Apr 2016:   57.7% to FI *
May 2016:  58.5% to FI
Jun 2016:   61.1% to FI
Jul 2016:    60.6% to FI
Aug 2016:  60.7% to FI
Sep 2016:  61.2% to FI

* FI defined as 3% SWR and mortgage-free

Rubyvroom

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Re: 2020 FIRE Cohort
« Reply #194 on: October 10, 2016, 12:46:27 PM »
Apr 2016:   57.7% to FI *
May 2016:  58.5% to FI
Jun 2016:   61.1% to FI
Jul 2016:    60.6% to FI
Aug 2016:  60.7% to FI
Sep 2016:  61.2% to FI

* FI defined as 3% SWR and mortgage-free

I like your way of looking at this. You are making great progress!

I pulled a similar % into my tracking spreadsheet. We are much farther behind you %-wise but we're on a good trajectory, and I've been making some pretty significant spending cuts recently. I still see between May and October 2021 in my spreadsheet but I'm not giving up hope on 2020! You gotta have stretch goals... :)

Jan 14.6%
Feb 15.2%
Mar 16.6%
Apr 17.4%
May 18.1%
Jun 18.5%
Jul 19.6%
Aug 20.2%
Sep 21.2%

** Percents above represent percent of net worth required to FIRE at estimated future spending at 4% WD rate. Net worth does not include equity in two vehicles or house. Estimated future spending assumes we do not change our living situation and continue to pay our current mortgage.

FIREby2021

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Re: 2020 FIRE Cohort
« Reply #195 on: October 12, 2016, 06:56:56 AM »
Apr 2016:   57.7% to FI *
May 2016:  58.5% to FI
Jun 2016:   61.1% to FI
Jul 2016:    60.6% to FI
Aug 2016:  60.7% to FI
Sep 2016:  61.2% to FI

* FI defined as 3% SWR and mortgage-free

I like your way of looking at this. You are making great progress!

I pulled a similar % into my tracking spreadsheet. We are much farther behind you %-wise but we're on a good trajectory, and I've been making some pretty significant spending cuts recently. I still see between May and October 2021 in my spreadsheet but I'm not giving up hope on 2020! You gotta have stretch goals... :)

Jan 14.6%
Feb 15.2%
Mar 16.6%
Apr 17.4%
May 18.1%
Jun 18.5%
Jul 19.6%
Aug 20.2%
Sep 21.2%

** Percents above represent percent of net worth required to FIRE at estimated future spending at 4% WD rate. Net worth does not include equity in two vehicles or house. Estimated future spending assumes we do not change our living situation and continue to pay our current mortgage.

Thanks, Rubyvroom.  I oscillate back and forth whether monthly checks are important, but dang it I like updating my "countdown" number monthly instead of quarterly (illusion of progress!?) :-)

We started out with a plan centered on 2021, however current sweet-spot and stretch goal appears to be around 01-May-2020, so only 43 months to go! Next month I can say 3.5 years left!  :-)  At ages 37 & 38, we are ever so slightly ahead of our initial schedule, with current focus on keeping our savings rate >60% (if not closer to 70%).  Our biggest near-term financial decision (2017) is likely around deciding to sell our HCOL home vs. renting.

FIREby2021

powersuitrecall

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Re: 2020 FIRE Cohort
« Reply #196 on: October 12, 2016, 07:11:27 AM »
Another month in the books, slow steady progress continues.  FWIW, our ideal target is May-2020, after revising early this year from a 2021 estimate.  Just back from a wonderful vacation week up in WA state and feeling refreshed.  Thanks for your blog link FrugalFarmer ... we enjoy gardening and are always looking for ways to "grow" :-)

Apr 2016:   57.7% to FI *
May 2016:  58.5% to FI
Jun 2016:   61.1% to FI
Jul 2016:    60.6% to FI
Aug 2016:  60.7% to FI
Sep 2016:  61.2% to FI

* FI defined as 3% SWR and mortgage-free

We are posting similar progress, FIREby2021.

2009-01   22.9%
2010-01   25.7%
2011-01   24.2%
2012-01   27.7%
2013-01   31.5%
2014-01   35.8%
2015-01   41.5%
2016-01   49.4%
2016-10   61.6%

For a while, I had been neglecting to take into account taxes to determine our FIRE date, but have recently updated our mega spreadsheet.  I had originally guessed early 2020 as our FIRE date, but after crunching the numbers it's looking more like mid-late 2020. 

Details in my journal: http://forum.mrmoneymustache.com/journals/a-nice-dream/msg1247994/#msg1247994
« Last Edit: October 12, 2016, 07:28:04 AM by powersuitrecall »

onlykelsey

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Re: 2020 FIRE Cohort
« Reply #197 on: October 12, 2016, 07:15:11 AM »
I'll eventually need to come up with a more complex formula, but assuming 50K/year and a 4% withdrawal rate, I am currently 36.8% FI.

Realistically I'd probably shift to something project-based or part-time before I hit 1.25 mn or pulled the plug, and who knows what the kid I'm expecting in two months will do to this plan, but it's an interesting way to track.

Rubyvroom

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Re: 2020 FIRE Cohort
« Reply #198 on: October 12, 2016, 09:42:16 AM »
@FIREby2021 - I like the monthly checks myself... I simply don't have the history to make quarterly or yearly checks worth it, since I only really started tracking diligently this year. I like to see the progress. And it's cool to see other people's progress too!

I have a reason for not wanting to set our goal date in 2021. We've been on a perpetual "5-year plan" for various reasons for pretty much our entire adult life. 2021 would put us on yet another dreaded "5-year plan." I say it's time to wind down this stupid 5-year plan, so 2020 is the stretch goal.

In other news, a cousin of mine perked up when my husband mentioned something about index funds at a family birthday dinner. She was like, oh what do you guys know about investing? We didn't want to get too into it because we haven't yet "come out" to our parents that we intend to withdraw from conventional working life, but we mentioned a few key points and told her there were a few really good blogs we could send her. When I sent her MMM later that night she said oh yeah, we're avid readers of MMM. NO WAY! I found a Mustachian in our family... who knew. Ha. Apparently she has a grand exit plan as well. It was a pretty funny family-dinner-revelation. Maybe I can get her on the 2020 trajectory as well!

powersuitrecall

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Re: 2020 FIRE Cohort
« Reply #199 on: October 12, 2016, 09:52:11 AM »
In other news, a cousin of mine perked up when my husband mentioned something about index funds at a family birthday dinner. She was like, oh what do you guys know about investing? We didn't want to get too into it because we haven't yet "come out" to our parents that we intend to withdraw from conventional working life, but we mentioned a few key points and told her there were a few really good blogs we could send her. When I sent her MMM later that night she said oh yeah, we're avid readers of MMM. NO WAY! I found a Mustachian in our family... who knew. Ha. Apparently she has a grand exit plan as well. It was a pretty funny family-dinner-revelation. Maybe I can get her on the 2020 trajectory as well!

I'm envious :)

I recently "came out" to my parents.  We were actually talking about 5 year plans in the context of what to do with their cottage (TLDR version is that they are getting older and are finding it difficult to keep up along with their home).  In the midst of the discussion I let out our FIRE plan (the lite version).  They were not surprised at all and were encouraging.  It's nice to have support from family!