Author Topic: 2020 FIRE Cohort  (Read 112486 times)

DeanHedlund

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Re: 2020 FIRE Cohort
« Reply #250 on: July 18, 2017, 08:33:48 AM »

2020 is still 2/3 years away.
Meanwhile, I find myself sometimes impatient, especially on the days with major work frustration.
How do people cope with it?

BFGirl

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Re: 2020 FIRE Cohort
« Reply #251 on: July 18, 2017, 10:03:52 AM »

2020 is still 2/3 years away.
Meanwhile, I find myself sometimes impatient, especially on the days with major work frustration.
How do people cope with it?

I am so struggling with this every day.  It takes everything I have to drag my ass into work.  I have so many other things I want to do that I just don't have time for and get really frustrated when I can't pursue my creative endeavors in full.  I keep trying to remind myself that if I persevere now, things will be better for my future self.  I also remind myself that I have others depending on me and I can't just quit.  However, I am taking more of a "Fuck It" attitude.  I was on vacation for a week, came back and worked a day and then got sick with a  cold.  Normally, I would have dragged my ass into work sick, but I decided to actually use my sick time and I took two days off.  It made things much less stressful and I probably recovered faster.  I've also decided to take more frequent mental health days and long weekends.  I have the time and I might as well use it. 

3 years, 5 months and 13 days...

2Birds1Stone

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Re: 2020 FIRE Cohort
« Reply #252 on: July 18, 2017, 10:43:37 AM »

2020 is still 2/3 years away.
Meanwhile, I find myself sometimes impatient, especially on the days with major work frustration.
How do people cope with it?

Really struggling with this today as well.

Morale on my team at work is at an all time low. It feels like my entire group is getting managed out. Reduced pay, increased work stress, and no clear way out.

xDavidx

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Re: 2020 FIRE Cohort
« Reply #253 on: July 18, 2017, 12:07:32 PM »
I understand the people who are so close to their target goal but struggling with the grind every day. In December I had enough and left my high paying job and am now working a low paying part time job. It is working for me. I will still reach my target, it might take longer but I am starting to feel healthier already.

The hardest part so far has been to decline all the job recruiter who are calling/emailing all the time.

markbike528CBX

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Re: 2020 FIRE Cohort
« Reply #254 on: July 18, 2017, 02:15:26 PM »
...snip....
The hardest part so far has been to decline all the job recruiter who are calling/emailing all the time.

Sounds like a Moustachian People Problem thread post!

Rubyvroom

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Re: 2020 FIRE Cohort
« Reply #255 on: July 18, 2017, 02:52:08 PM »
I will still reach my target, it might take longer but I am starting to feel healthier already.

I'm glad to hear this is working for you. We've discussed doing this for my SO too about 1 year away from RE. His job is FAR more stressful than mine and much farther of a commute and he's the lower earner in the equation. When we get close to our date (~1-1.5 years out), it might make more sense for us to do a mental health check and change up his situation.

As a Finance person, my coping mechanism is to open my FIRE spreadsheet and find a few things to tweak. I also try to keep perspective at work... when someone is becoming unbearable I just smile and remember, "I will literally never see you again in my life in a couple of years."

Random thought that might help as well... a few months ago toothpaste went on sale and if I bought 5 large tubes they were like $1 per tube, so I bought 5 and thought to myself... shit, we're close enough to FIRE that if a really good sale happens on some non-perishable item, it could potentially last us through our FIRE date... Our dates are far away but not ~that~ far away... its kind of fun for me to think about how the items we own or buy today might be the "last" we buy while we're still working.

Hope everyone's day gets better.

DeanHedlund

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Re: 2020 FIRE Cohort
« Reply #256 on: July 18, 2017, 03:08:31 PM »
Morale on my team at work is at an all time low.

My team as well. Being the manager, I still have to put on a positive visage and continue to be helpful. What I can do is limited due to exec change and pivoted vision.

markbike528CBX

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Re: 2020 FIRE Cohort
« Reply #257 on: July 18, 2017, 07:52:03 PM »
".............pivoted vision.

keeping this for buzzword bingo

tawyer

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Re: 2020 FIRE Cohort
« Reply #258 on: July 19, 2017, 06:51:53 PM »

2020 is still 2/3 years away.
Meanwhile, I find myself sometimes impatient, especially on the days with major work frustration.
How do people cope with it?

We have two or three years to go. By contrast, those who are often the source of frustration have twenty or thirty years to go. Ergo, I am getting ten times as much from the day as they are. At a stretch, I can convince myself that this is like being paid ten times as much as they are, because I am getting ten times the value from the day.

I suppose it's the journey, not the destination, as it is often said, so I just focus on this amazing high speed journey I am on.

DeanHedlund

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Re: 2020 FIRE Cohort
« Reply #259 on: July 20, 2017, 08:17:22 AM »
".............pivoted vision.

keeping this for buzzword bingo

Ha, I had to look that up.

FIREby2021

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Re: 2020 FIRE Cohort
« Reply #260 on: August 01, 2017, 08:47:09 AM »
Another (hot, humid, long, busy) month in the books, with continued slow & steady progress.  Stretch target timeline now sits @ 21-months, with the "more realistic" goal @ 30-months.  These are both sweet-spots that seek to optimize / balance for reaching savings goals, receiving expected bonus payments, and managing 1st year FIRE tax implications.  For those that don't want to add, that puts the stretch target @ May-2019, with the "more realistic" target @ Feb-2020.  There's a smidge of 'OMY' built-in between those 2 dates, but we would stand to capture 12 months of 'value' in exchange for 9 months of 'time'.  I reckon we'll know a lot more about which date appears to be most realistic by this time next year.

Highlights from July include:
- This was expected to be an insane work month, and it was.  We met & exceeded our goals, and should now be in more of a steady state mode going forward, which will be nice for the work/life balance.
- Health improvements continue!  Still enjoying yoga & am doing some linear programming (starting strength).
- Summer heat is LEGIT here now ... tomatillos & sweet potatoes appear to be thriving!
- Side gig likely to get off the ground now during 3Q-2017, following the busy season @ work
- We booked an exciting trip for our anniversary in September!

EOY 2016:  70.6%
JAN 2017:  70.0%
FEB 2017:  70.2%
MAR 2017: 71.2%
APR 2017   71.9%
MAY 2017   72.4%
JUN 2017:  73.3%
JUL 2017:   74.1%

FIREby2021

MsSindy

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Re: 2020 FIRE Cohort
« Reply #261 on: August 08, 2017, 01:21:48 PM »

2020 is still 2/3 years away.
Meanwhile, I find myself sometimes impatient, especially on the days with major work frustration.
How do people cope with it?

I think it's how do you cope with any of life's frustrations?  Do you do destructive things like drink heavily or become an asshole and yell at people?  Or do you look at your spreadsheets and smile, listen to music, come view what's new on the MMM threads?  Basically, what's your tactic to create a diversion.

Gumption

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Re: 2020 FIRE Cohort
« Reply #262 on: August 08, 2017, 03:43:35 PM »
The closer I get, the more stressful it seems.

Pretty much everyone and their brother (and MMM) are calling for a correction soon. Im ok with that and know it will recover, but does that mean another year or two for me to play it safe?

Also, I am starting to notice things like how accommodating I have been to clients all these years (pretty much available 24/7/365)
I woke up saturday morning to find a text from a client "you available today?"
I ignored it until saturday night, when I replied "not in the office this weekend, back monday"
A year or so ago, I would never have thought about doing this.

Still 2/3 years is a long time, so i need to power through and stay positive.

It all makes me realize how much i have had to adjust my personality to make a buck all these years. Now I am trying to get a game plan together to get myself mentally back to a good place....like where I was before "get and real job/buy a house/ marriage /kids" mode.

I am ready to shed this skin!

Out of curiousity, 2020ers, what % of your FI number are you at right now?
« Last Edit: August 08, 2017, 03:54:37 PM by Gumption »

Rubyvroom

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Re: 2020 FIRE Cohort
« Reply #263 on: August 08, 2017, 05:19:25 PM »
A year or so ago, I would never have thought about doing this.

Hopefully that's a good feeling! I call that phenomenon, "losing my give a shit." Just do an internet search on "look at all the f*cks I give" memes while at work... maybe someone will get the message :P

Out of curiousity, 2020ers, what % of your FI number are you at right now?

Hoping to be 40% by the end of 2017 (might be a stretch). We were at 25% at the end of 2016.

2Birds1Stone

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Re: 2020 FIRE Cohort
« Reply #264 on: August 08, 2017, 06:18:19 PM »
This month I will be getting a healthy commission check.....barring any crazy market fluctuations......we will be at,

8X combined annual expenses

13X individual expenses

Feels like 2020 is a stretch, but 2+ years is a decent amount of time to make progress.

BFGirl

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Re: 2020 FIRE Cohort
« Reply #265 on: August 09, 2017, 07:36:38 AM »
I'm probably at 19-20x expected expenses and working for a pension to make up the difference. If I can make it until the end of 2020, then I can take the pension at 53.  If I quit before, then I get it at 60. 

I've finally come to the realization that I at least have FU money.  If work becomes intolerable, I'll quit and work harder at my side hustle and find a fun part time job.  Sometimes this realization makes it easier to go to work and sometimes much harder, lol.

FIRE 20/20

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Re: 2020 FIRE Cohort
« Reply #266 on: August 27, 2017, 09:34:51 AM »
I think I'm going to be moving in into the 2019 Fire Cohort.  We are tracking our expenses for the first time, and they're lower than expected.  I'm feeling pretty good about pulling the date into 2019.  Even 2018 looks reasonable if we were willing to go as high as a 4% WD rate, but we're aiming for 3.5%. 

FIREby2021

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Re: 2020 FIRE Cohort
« Reply #267 on: September 02, 2017, 01:53:05 PM »

Just a short update for Aug-2017:

- Flat NW progress (met all savings goals, offset by market performance)
- Harvey has been the focus of the past week; so many people in need, hurting; incredibly blessed that we are OK
- Stretch goal now at 20 months (2Q-2019); realistic goal at 29 months (1Q-2020)

EOY 2016:  70.6%
JAN 2017:  70.0%
FEB 2017:  70.2%
MAR 2017: 71.2%
APR 2017   71.9%
MAY 2017   72.4%
JUN 2017:  73.3%
JUL 2017:   74.1%
AUG 2017:  74.1%

FIREby2021

dreams_and_discoveries

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Re: 2020 FIRE Cohort
« Reply #268 on: September 05, 2017, 03:32:49 AM »
Great progress everyone.

I'm working towards the end of 2020, which gives me 1200 to go today. :)

Pennycounter

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Re: 2020 FIRE Cohort
« Reply #269 on: September 05, 2017, 02:53:42 PM »
I'm officially signing up for this Class!! I'm having one of those super anxious days at work and ran some extended scenarios on my spreadsheets and March April 2020 works.  I will be 41. 

That date allows me to fully fund my 401K for that year and I get my annual bonus in March (realizing now with 1+ month notice it will put me to April 2020) My husband will keep working for another maybe 10 years, that's what I have plugged in right now.  He's okay with this (right now) and we will re-evaluate as the date nears.  There is some flexibility on his working/retiring but I am the one who has the higher stress job and work anxiety.

We are basing all calcs on invest able assets and what I hope is conservative growth 5% for retirement and 3% for non-retirement accounts.  I haven't included anything beyond our current healthcare cost since we will still be covered under my husband's healthcare plan at work.  He and our children are Canadien citizens as well so worst case, we could move there for socialized medicine. 

Excited to be here!

DeanHedlund

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Re: 2020 FIRE Cohort
« Reply #270 on: September 10, 2017, 02:30:12 PM »
I'm officially signing up for this Class!! I'm having one of those super anxious days at work and ran some extended scenarios on my spreadsheets and March April 2020 works.  I will be 41. 

That date allows me to fully fund my 401K for that year and I get my annual bonus in March (realizing now with 1+ month notice it will put me to April 2020) My husband will keep working for another maybe 10 years, that's what I have plugged in right now.  He's okay with this (right now) and we will re-evaluate as the date nears.  There is some flexibility on his working/retiring but I am the one who has the higher stress job and work anxiety.

We are basing all calcs on invest able assets and what I hope is conservative growth 5% for retirement and 3% for non-retirement accounts.  I haven't included anything beyond our current healthcare cost since we will still be covered under my husband's healthcare plan at work.  He and our children are Canadien citizens as well so worst case, we could move there for socialized medicine. 

Excited to be here!

Welcome to 2020 and congrats! I also have annual bonus in March and am shooting for April 2020 as well!

Loren Ver

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Re: 2020 FIRE Cohort
« Reply #271 on: September 10, 2017, 05:58:49 PM »
I feel like I am late to the game!  So many of you knew a date back in 2015 :).

So the plan is for DH and me to RE by May 13, 2020.  That is the day before DH turns 41. 

Many years ago when we were still dating I told him if he started putting his money away in investments he could retire around 40, since that is what my dad had done.  So the plan now is to bid adieu to working before he turns 41.  That would make me 38.  Less than 1000 days!

The plan:
We currently have a little over $500,000 in stock-based investments.  This is enough to cover our VERY basic needs if something went terribly wrong and we had to leave our jobs right now.

We save about 50% of our ~$78000 take home pay.  We want to get to around $800,000 for a 4% SWR.  This would cover happier living and doing stuff. 

Not planning for any pensions, SS, or other windfalls - though there is a possibility any of those things could be realized. 

I don't count the house in any projections.  It will be paid off a few years after RE, but the house was cheap so the payments are low.  The plan is to stay in this house unless we don't.  We do not plan on upgrading to a more expensive house.

Possible bumps
I am the main bread winner and my job is in flux due to a recent merger.  I'll know what is going to happen in the next 90 days or so. 
Until then, stay the course.

The plan in retirement:
Not go to work. :)
Also, we want drive a van we converted into a living space  around the country looking and natural splendor and human made oddities.   Since we decided this was something we wanted to do, plans are already being made.  We plan to buy a (cheapish) van in the next few months and then start tearing it apart.  We are going to learn some fun new skills (welding, hooking up solar, etc.) and have a silly time thinking through the possibilities.  Hopefully we can start some short trips come spring.

Why wait until 2020? :).

Loren


Loren Ver

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Re: 2020 FIRE Cohort
« Reply #272 on: September 10, 2017, 06:05:34 PM »

The closer I get, the more stressful it seems.


I am so feeling you here!  The closer I get the worse it seems.  Good problem to have though!

Still 2/3 years is a long time, so i need to power through and stay positive.


Out of curiousity, 2020ers, what % of your FI number are you at right now?
About 63%

WonderfulLife43

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Re: 2020 FIRE Cohort
« Reply #273 on: September 27, 2017, 06:29:34 PM »
Following, and joining the Cohort.

My perfect vision of a FIRE date is 5/1/2020 (MayDay! MayDay!), 31 months from now, at age 62!   When I tell people that I have a countdown clock on my desktop (currently 940 calendar days and counting), I often get 'the look'.  It's nice to find many like-minded people here, with all of our countdown clocks, spreadsheets, and forums :-)

My situation is a little different that many of you, as I'm approaching the age of traditional early retirement - what I like to call the 40/40 plan .... work 40 hours a week for 40 years  :-/   I've always been frugal. But, I also believed the lies of my employer - generous pension after 30 years of service (Gone!),  lifetime free medical insurance after 30 years (Gone!),  job security (Gone!) .    Since I didn't need to worry about these things, I didn't save much for retirement in the early years.   It was about 5 or 6 years ago that I examined our finances, and figured that I may NEVER be able to retire.  But, I started streamlining our expenses, maximized 401K / HSA / IRA contributions, including catch-up for being 55+ ..... and the 'stache has been growing nicely, to the point where I can see the light at the end of the cubicle tunnel.

We're at a point in our lives where the kids have been raised, educated, married, and launched.  This makes it much easier to estimate the future expenses for the 2 of us.   The plan is to sign up for SS immediately at 62, and also start collecting a tiny pension (<$10k/year) immediately.  The pension will never get a COLA, so it makes sense to take it ASAP.     We can live a luxurious life on SS/Pension, and allow the 'stache to continue to grow for several more years before we touch it.

Leaving in April/May works best for me, as it allows me time to fully fund the 401k for 2020, and get the annual bonus in March.

Keep up the good work, and hang in there!

Loren Ver

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Re: 2020 FIRE Cohort
« Reply #274 on: September 29, 2017, 05:21:47 AM »
Woohoo Wonderfullife43. I'm glad you checked things out and got yourself on track!

Lews Therin

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Re: 2020 FIRE Cohort
« Reply #275 on: September 29, 2017, 09:36:38 AM »
I've decided to join you all!

I've been flip-flopping on continuing for 8 years (FIRE 2025) in order to never have to work again.... But I think that leaving the military at the end of my contract (25 July 2020) and simply working a part-time job if I need more than the 4% would do the trick.

While not full FIRE... going to a 40hr work... Month would be pretty awesome. I've checked my numbers, and even working minimum wage for 40 hrs a month, I have between 5-10k leeway. Seems safe enough for me!

Rubyvroom

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Re: 2020 FIRE Cohort
« Reply #276 on: September 30, 2017, 08:36:24 AM »
Dec 2016 - 25.0% (53% YTD savings rate)
Jan 2017 - 26.2% (56% savings rate)
Feb 2017 - 27.7% (60% savings rate)
Mar 2017 - 29.1% (77% savings rate)
65.4% Q1 Savings Rate
Apr 2017 - 30.7% (71% savings rate)
May 2017 - 31.8% (59% savings rate)
Jun 2017 - 33.0% (55% savings rate)
63.0% Q2 Savings Rate
Jul 2017 - 34.4% (60% savings rate)
Aug 2017 - 35.5% (61% savings rate)
Sep 2017 - 37.0% (60% savings rate)
60.6% Q3 Savings Rate

When you wake up Saturday morning like /glee the markets are closed for the month time to SPREADSHEET. Ha.

Q3 was a lower savings rate than I would have liked but it was summer... we tend to slip a bit in the summer and will make some of that up in Q4 when Minnesota throws winter at us.

We have now saved more in 2017 through September than we saved all year in 2016! I think 2020 is still realistic. My SO and I have talked about accelerating that timing to 2019 and going down to part time, but we'll see what the markets do.

Glad to see the new folks joining up. It's always fun to hear everyone's stories :)

Onward and upward!

DeanHedlund

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Re: 2020 FIRE Cohort
« Reply #277 on: September 30, 2017, 09:04:46 AM »
Love the cat pic! Keep it up! :)

Half Stached

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Re: 2020 FIRE Cohort
« Reply #278 on: September 30, 2017, 01:28:41 PM »
The quarter is up! Time to see how things are going...

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%

With the condo purchase, we've raised our annual savings rate to 75% (no rent or mortgage payments). However, work has become quite a bit more stressful. Even though we're tracking toward 2020 for our target, I've decided I'm going to be done on 4/1/2019 (after annual and long term bonuses payout). Worst case scenario I'll need to find a part time side gig at some point.

FIREby2021

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Re: 2020 FIRE Cohort
« Reply #279 on: October 01, 2017, 12:50:42 PM »
OK - time for the end of Sep-2017 update:

- Solid progress; best month of the year, in fact. We met our savings goals & benefitted from market performance (is energy making a positive turn?)
- We splurged on a wonderful trip to Kauai to celebrate our 15-year wedding anniversary!
- Cooler weather is here ... the best time of the year to be down here is upon us!
- Remember our (2nd visit) to our future LCOL location back in June?  Well, we just made an offer on a house in our "ideal" neighborhood location.  The house currently has long-term renters who prefer to stay, which would be very helpful as we bide our time before beginning a future remodel project.  Home price + remodel projects to fit within the "home" portion of our overall NW target goal ... we are excited this might represent securing our future FIRE home location!
- Stretch goal countdown now rolls to 19 months (2Q-2019); realistic goal is at 28 months (1Q-2020)

EOY 2016:  70.6%
JAN 2017:  70.0%
FEB 2017:  70.2%
MAR 2017: 71.2%
APR 2017   71.9%
MAY 2017   72.4%
JUN 2017:  73.3%
JUL 2017:   74.1%
AUG 2017:  74.1%
SEP 2017:  76.2%

FIREby2021

FIREby2021

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Re: 2020 FIRE Cohort
« Reply #280 on: October 10, 2017, 02:26:59 PM »
OK - time for the end of Sep-2017 update:

- Solid progress; best month of the year, in fact. We met our savings goals & benefitted from market performance (is energy making a positive turn?)
- We splurged on a wonderful trip to Kauai to celebrate our 15-year wedding anniversary!
- Cooler weather is here ... the best time of the year to be down here is upon us!
- Remember our (2nd visit) to our future LCOL location back in June?  Well, we just made an offer on a house in our "ideal" neighborhood location.  The house currently has long-term renters who prefer to stay, which would be very helpful as we bide our time before beginning a future remodel project.  Home price + remodel projects to fit within the "home" portion of our overall NW target goal ... we are excited this might represent securing our future FIRE home location!
- Stretch goal countdown now rolls to 19 months (2Q-2019); realistic goal is at 28 months (1Q-2020)

EOY 2016:  70.6%
JAN 2017:  70.0%
FEB 2017:  70.2%
MAR 2017: 71.2%
APR 2017   71.9%
MAY 2017   72.4%
JUN 2017:  73.3%
JUL 2017:   74.1%
AUG 2017:  74.1%
SEP 2017:  76.2%

FIREby2021

Minor update - we ended up getting outbid on that house, which is fine as it turns out ... the long-term renters we were initially told about had decided to move out end of October ... thankful not to deal with that news after-the-fact.  "NEXT!" - thankful we have the luxury of time on our side to find the right place.

FIREby2021

Able was I ERE

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Re: 2020 FIRE Cohort
« Reply #281 on: October 16, 2017, 05:21:08 AM »
I'm in.  My current calculations have me hitting a 4% WR in late 2020.   

However, I fantasize about gradually working fewer and fewer days per week, which would extend my completely FIRE date considerably.    I've already shifted to 4 days / week.  If I get to 2 days / week, I'll officially call it my "smoldering date", and consider myself partially FIRE'd.

Now working 3 days / week and taking significant amounts of time off in the summer.  Next year, I expect to work ~120 days (versus ~230 days for typical 5 days / week worker).  The kindling has been chopped, but the FIRE is still not smoldering.

Not sure how this affects my FIRE date yet.  Right now, this is the correct choice for me and my family, allowing me more time to spend with the kids while they are young, especially during the summer when there is more time and good weather for outdoor activities.  I'll re-evalute a full FIRE when 2020 nears.

How are everyone else's plans for FIRE'ing in 2020 coming?  Still on track or have they changed?

DeanHedlund

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Re: 2020 FIRE Cohort
« Reply #282 on: October 16, 2017, 09:27:55 AM »
How are everyone else's plans for FIRE'ing in 2020 coming?  Still on track or have they changed?

Financially, still on track.
Recent stock market high makes the book awesome. 
Emotionally and etc, it is up and down; 2020 still is far away to galvanize...all the necessary steps/projects leading up to that point are still on track though.

RedefinedHappiness

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Re: 2020 FIRE Cohort
« Reply #283 on: October 16, 2017, 11:50:39 AM »
Conservative assumptions and favorable market returns have put me ahead of schedule financially. This may push me into 2019 or 2018. Or at least allow me to plan more thoughtfully now that this is becoming more real.

BlueMR2

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Re: 2020 FIRE Cohort
« Reply #284 on: October 16, 2017, 04:29:47 PM »
Conservative assumptions and favorable market returns have put me ahead of schedule financially. This may push me into 2019 or 2018. Or at least allow me to plan more thoughtfully now that this is becoming more real.

Things are indeed rolling along real nice now.  I think there's a lot of us that had planned on 2020 based on prior returns that can now say that 2018 is looking pretty solid (of course - creek don't rise, healthcare don't explode, markets don't tank with no sign of recovery anytime soon).  A couple more "OMYs" from 2018 to 2020 at current trends should make for as bulletproof a future plan as one could ever hope.

ixtap

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Re: 2020 FIRE Cohort
« Reply #285 on: October 16, 2017, 05:31:09 PM »
The math says 2020 is still doable; the SO says 2021 is more likely.

Lews Therin

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Re: 2020 FIRE Cohort
« Reply #286 on: October 16, 2017, 05:57:25 PM »
I`m looking at a 4Plex rental that'll allow me to skip the part-time (or I guess landlording will be my part-time) for 2020.

I might not have to do ALL 40Hrs a month I was planning!

RedefinedHappiness

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Re: 2020 FIRE Cohort
« Reply #287 on: October 16, 2017, 07:50:45 PM »
Conservative assumptions and favorable market returns have put me ahead of schedule financially. This may push me into 2019 or 2018. Or at least allow me to plan more thoughtfully now that this is becoming more real.

Things are indeed rolling along real nice now.  I think there's a lot of us that had planned on 2020 based on prior returns that can now say that 2018 is looking pretty solid (of course - creek don't rise, healthcare don't explode, markets don't tank with no sign of recovery anytime soon).  A couple more "OMYs" from 2018 to 2020 at current trends should make for as bulletproof a future plan as one could ever hope.

Agreed. My plan is to keep working with my head down until I reach a reasonable 4%. Then spend a little more time pouring over assumptions and analyzing safety margins. Once I then become comfortable, I will consider my options. Could be to continue, could be to find a fun part time gig. Could be to FIRE.  All good options...

FireLane

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Re: 2020 FIRE Cohort
« Reply #288 on: October 16, 2017, 07:53:53 PM »
This bull market is definitely accelerating my FIRE timeline. Right now I'm at the NW number my original plan said I would hit in late 2018. If this keeps up, I'll reach my target number well before 2020.

What concerns me more than money is health care. People retiring this year, with no way to know whether Obamacare will survive or what if anything will replace it, are a lot braver than me. If I hit my target number early, I may just keep working but cut back my hours to the minimum required for benefits. I'm hoping that by 2020, the future of health care in America will be clearer.

Loren Ver

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Re: 2020 FIRE Cohort
« Reply #289 on: October 20, 2017, 05:05:00 PM »
The markets have been awesome and the investment are growing on all fronts.  Love the cat pic!  To freedom!!

Changes and issues for me:
Still don't know if I will have a job next year.  Mixed feelings on if I will have job (I am the main breadwinner and have a great job with great benefits) or a buy out (big cash drop and skills for a new job).  Now mostly waiting.  So thankful that either option is good where many of my coworkers are in very tight spots.

DH and I just bought a van.  We are stripping it out for travel.  One of our goals in FIRE is to drive around and see the country.  But, we are also impatience and want to see how we like this mode of transit and living before we retire.  Love learning new skills!

Medical and other issues are making me feel strapped for liquid funds.  We are fine, but I am use to more buffer space.  Investment money gets pulled out first, so everything else a bit tight when 1000s of unexpected dollars all need to be spent right now.  The spreadsheet is getting a workout. 

We are about 69% of the way there!


ixtap

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Re: 2020 FIRE Cohort
« Reply #290 on: October 20, 2017, 05:11:44 PM »

DH and I just bought a van.  We are stripping it out for travel.  One of our goals in FIRE is to drive around and see the country.  But, we are also impatience and want to see how we like this mode of transit and living before we retire.  Love learning new skills!


We have lived aboard our boat for three years now because we wanted to see if we liked it before we retire. One reason that 2020 is in our sights is because that is when the next big regularly scheduled maintenance is due.

We took it out for a three week cruise at the end of the summer and discovered a pretty big problem. However, because we know this boat inside and out we went from "are we going to have to get a different boat?!" to "problem solved" for about $500 and few weeks of labor.

Our back up plan, if his skeletomuscular problems can't be resolved, is an RV. It is also our follow up plan after cruising.

Loren Ver

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Re: 2020 FIRE Cohort
« Reply #291 on: October 22, 2017, 01:08:19 PM »
ixtap, I love the alternates people have found!  Living on a boat would be interesting.  I hope to get to the point where I can fix all the van issues that occur.  Paying someone else to do it always makes me a little sad.  Right now we are so busy with work and other things that spending time fixing the vehicles mostly doesn't happen.

LV

FIREby2021

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Re: 2020 FIRE Cohort
« Reply #292 on: November 01, 2017, 12:49:47 PM »
Summer is OVER! -> Oct-2017 highlights:

- Solid progress, meeting our savings goals & energy holdings continue to solidify
- Enjoyed a long weekend trip visiting extended family up north - fall colors and a great relaxing weekend in the country!
- Cooler weather is finally here ... the best time of the year to be living here is now upon us!
- Holy moly - WE BOUGHT OUR HOME in our future LCOL town!!  We travelled to participate in the inspection, etc., and it truly is in our dream neighborhood location.  Right across from a beautiful park and within easy walking/biking distance to EVERYTHING.  We are working with a local property management company to rent it out as we approach the final ~2 year countdown, after which time we'll do some cosmetic remodel work.
- Our LCOL home is half the cost of our current HCOL home, which (in alignment with one of our 2017 goals), we will now making steps to sell and shift to a rental here.  More to come, I'm sure.
- Stretch goal countdown now rolls over to 18 months (2Q-2019); realistic countdown goal is at 27 months (1Q-2020)

EOY 2016:  70.6%
JAN 2017:  70.0%
FEB 2017:  70.2%
MAR 2017: 71.2%
APR 2017   71.9%
MAY 2017   72.4%
JUN 2017:  73.3%
JUL 2017:   74.1%
AUG 2017:  74.1%
SEP 2017:  76.2%
OCT 2017:  77.3%

FIREby2021

Linda_Norway

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Re: 2020 FIRE Cohort
« Reply #293 on: November 01, 2017, 01:17:10 PM »
I should rather be joining this thread than the 2019 that I optimistically join earlier. I realized some time ago that I am not going to FIRE earlier than december 2019 and probably not even that. I expect it to really hapoen somewhere in 2020. And maybe first by working part time for some time.

I still need approx another 1,5 mil Norwegian crowns to be able to FIRE in 2020. If we don't get any large expenses, this might be 2 years of saving. I hope that our 2010 car survives for many years to some.
Our joker card is downsizing the clown house. We will do that as a part of FIRE. We currently don't have the energy to downsize and move while working full time. We just moved in two years ago, just before discovering this website. Dumb decision it was... I count on finding a FIRE house for 50% of it's price.

By the way... Originally I joined the 2023 thread, which has been the plan for the last 12 years or so. But that was before I calculated the numbers in detail.

2Birds1Stone

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Re: 2020 FIRE Cohort
« Reply #294 on: November 16, 2017, 01:15:23 PM »
Would LOVE to be able to join you guys and gals, sadly my realistic FIRE date is ~2027.

I could be considered FI by Dec 31 2020 if I moved to a 3rd world country -_-

Does that make me an honorary member?

I just want to point out why I almost just spit my coffee out reading this original post from over 2.5 years ago!

Thanks to the wonderful folks here, ERE, blogs, vlogs, and everything inbetween....a slow shift in mentality and resourcefulness, the actual plan IS to embark on a sabbatical/miniFIRE/downshiftto25%worktime by using geographical arbitrage.

28.5 months away for me, and we are only sitting at 8X current annual expenses. I hope to by @ 12-15X when pulling the plug.

DeanHedlund

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Re: 2020 FIRE Cohort
« Reply #295 on: November 16, 2017, 04:36:15 PM »
Our joker card is downsizing the clown house.

What is a clown house?

2Birds1Stone

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Re: 2020 FIRE Cohort
« Reply #296 on: November 16, 2017, 05:26:06 PM »
Our joker card is downsizing the clown house.

What is a clown house?

Too much house for practical use.....IE a 3500 sqft McMansion for a family of 4....usually in a good school district with equally high property taxes.

BFGirl

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Re: 2020 FIRE Cohort
« Reply #297 on: November 22, 2017, 09:39:34 AM »
1135 days and counting down...

2Birds1Stone

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Re: 2020 FIRE Cohort
« Reply #298 on: November 22, 2017, 07:20:21 PM »
859........can't come soon enough ;)

DeanHedlund

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Re: 2020 FIRE Cohort
« Reply #299 on: November 23, 2017, 07:32:10 AM »
859........can't come soon enough ;)

I am 850, we are close :)