Author Topic: 2020 FIRE Cohort  (Read 164849 times)

rab-bit

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Re: 2020 FIRE Cohort
« Reply #800 on: May 19, 2019, 05:42:51 PM »
Our retirement plans are really starting to take shape!
  • We purchased our third rental property a few months ago and the remodel is almost complete. It's turning out very nicely and I don't expect to have any problems renting it.
  • Last week our offer was accepted on a condo that will be our retirement home. After we sell our current home, there should be enough to pay off this condo as well as the rental mentioned above (if we so choose).
  • I am in discussions with contacts from my previous employer on two different downshift work opportunities. It's too early to tell if either of these will pan out, but going part-time with my current employer may also be an option.
Exciting times!

Freedomin5

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Re: 2020 FIRE Cohort
« Reply #801 on: May 19, 2019, 06:03:03 PM »
Our retirement plans are really starting to take shape!
  • We purchased our third rental property a few months ago and the remodel is almost complete. It's turning out very nicely and I don't expect to have any problems renting it.
  • Last week our offer was accepted on a condo that will be our retirement home. After we sell our current home, there should be enough to pay off this condo as well as the rental mentioned above (if we so choose).
  • I am in discussions with contacts from my previous employer on two different downshift work opportunities. It's too early to tell if either of these will pan out, but going part-time with my current employer may also be an option.
Exciting times!

That IS exciting! Hope the downshifting opportunities work out for you!

FIREstache

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Re: 2020 FIRE Cohort
« Reply #802 on: May 19, 2019, 06:10:38 PM »
Trifele on the 2019 list has fixed the excessive reposting by just editing the pre-existing (latest page) list. It helps if the list maintainer is 1 person who is quick about updates.  I wasn't, so Trifele picked up the list maintainance.

Ahhh yes, I recall some comments about that some time back.  That's a good idea.

Body Surfer

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Re: 2020 FIRE Cohort
« Reply #803 on: May 19, 2019, 06:45:08 PM »
What are 2020 FIRE folks liquid networth and estimated yearly expenses. Me: $930,000, $30k/yr pension, SS eventually. $60K/yr expenses with $10-15k travel included first few yrs

FIREstache

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Re: 2020 FIRE Cohort
« Reply #804 on: May 19, 2019, 08:05:27 PM »
$1.4M stache.  SS in 10 years.  $49.5K yearly drawdown FIRE budget (including taxes) of which $25K is discretionary, so there's a lot of flexibility in my budget.  Even cutting way down to $5K for discretionary is a lot more than my discretionary spending in recent years.

Withdrawal rates by age based on current stache (SS kicks in at 65):
55 to 65  3.5% WR  - could drop to 2.1% WR and still have $5K of discretionary spending
65 &  up  2.2% WR  - could drop to 0.8% WR and still have $5K of discretionary spending

The plan is not carved in stone.  Due to my short timeline to SS and amount of flexibility built in, I might bump that up to 4% WR from age 55 to 65, but $25K/yr is already many times greater discretionary spending than I've ever done in my life.  So, I'll probably stick with the 3.5% WR baseline and give myself flexibility in both directions to cut or increase spending in any particular year depending on what comes up.

My case study:
https://forum.mrmoneymustache.com/case-studies/case-study-omy-or-2/
« Last Edit: May 19, 2019, 08:31:24 PM by FIREstache »

SwordGuy

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Re: 2020 FIRE Cohort
« Reply #805 on: May 19, 2019, 09:39:18 PM »
Congrats everyone!   It's getting close to 2020!   Are you getting excited yet?

MoneyTree

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Re: 2020 FIRE Cohort
« Reply #806 on: May 19, 2019, 10:22:45 PM »
Getting excited and scared at the same time!

Now that its getting more real, I can start to understand what people are talking about when they talk about one more year syndrome, and the difficulty of walking away (for some).

Hope i'm not getting "institutionalized". Definitely feeling it a little bit.

Linea_Norway

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Re: 2020 FIRE Cohort
« Reply #807 on: May 19, 2019, 10:56:15 PM »
Getting excited and scared at the same time!

Now that its getting more real, I can start to understand what people are talking about when they talk about one more year syndrome, and the difficulty of walking away (for some).

Hope i'm not getting "institutionalized". Definitely feeling it a little bit.

Yes, I have been excited since last year. Ended up with an extra year then. Not because I had anxiety, but because I finally had DH interested in my detailed FIRE excel sheet, that I had reduced to a more simple level. He played with it, checking what would happen with a 0% growth of stock. My original FIRE plan was very lean and not discussed in detail with him. After discussing the details, he did not want to FIRE so lean, so therefore an extra year.

As we are going to move away from our current region, I experience often that I go some place to pick wild herbs or so, and then think: this will the last time I do this here. Our area is quite diverse with climate/biotop, both forest and coast. We also have many options for hiking trips and skiing trips close to home. We just don't have mountains. But it is a bit challenging. Will there be an new place available out there that is just as good, or preferably better?

I have quite a bit anxiety about the moving part. We don't know yet for sure where we are going. I can't get DH to think about it in more detail yet. His plan is to first move into a cheaper rental locally for some months, then sell off all the stuff that needs to be sold, and then move further away when we don't have so much on our minds. I am also a bit worried about selling our house and the process of getting it in pristine condition for sale. That is just a lot of work. But the final price for the house will be half or our FIRE stash, so it must be as high as possible. It also means that if we cannot get that price and we will have quit our jobs, we will need to make a plan B. Maybe wait it out until prices go up again, missing out on a year of stock market growth.

I am also a little worried about the sequence of things. We both have a 3 month! notice period at work (standard in Norway). That means that if I want to quit per January 1rst 2020, I will need to resign at the end of September. Which is before we will put the house out for sale, so we are taking a chance there. We plan to sell the home in the winter, either November or January, because we have seen that prices for villas in our region peak around that time. Also, we don't have the nicest garden and outside area. DH thinks we could come away with that if there is some snow. But we live on a hill with extremely steep roads where you need a 4x4 to come up easily in snowy conditions. So this is taking a chance as well. On the other hands, the buyers could guess that you need a 4x4 to live there. Selling a house without having a job is less stressful than working beside it like we did last time we sold our previous home.
« Last Edit: May 20, 2019, 01:46:01 AM by Linea_Norway »

FIREstache

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Re: 2020 FIRE Cohort
« Reply #808 on: May 20, 2019, 03:15:55 PM »

The only thing I felt a little excited about recently in regard to FIRE was when my stash hit $1.4M. 

I'm not FIREing in January, so I'm still about a full year out, if all goes well.  It still feels like a long ways off at this point.

I was actually within 6 months of my original FIRE target when I decided to OMY.  I was feeling more anxiety than excitement, even back then.  Also, stocks were falling, and the ACA was ruled unconstitutional, so decided to OMY it.  When I made the choice, I felt relief.

My biggest concern is still the ACA lawsuit, so it's a "wait and see" situation and will continue to temper any potential excitement I might have about FIRE in the months ahead.

beeboy

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Re: 2020 FIRE Cohort
« Reply #809 on: May 21, 2019, 02:59:41 PM »
Hi everyone. I'd like to officially join FIRE 2020. I was in 2022, but realize I simply cannot handle another 3 or so years of the rat race. More importantly, I don't have to and don't want to. :0) So, here's a quick breakdown:

Currently at around 1.7 mil in assets (about 2.0 mil NW). I have approx. 850K in a Morgan Stanley brokerage acct., 30K in a Fidelity acct., 535K in my 401k, 200K in CDs, 65K in savings acct. and 20K in checking.

I'm currently 45 and plan on pulling the plug and enjoying life in March/April 2020 (at age 46) with whatever I have at that point (hopefully somewhere between 1.8 - 1.9 mil). I may work part-time doing something I enjoy down the line, but I don't want to have to work. Anyway, I'm happy to be here and hope to get to know some of you fine folks and fellow 2020ers as we embark on this tremendous journey!


CoffeeAndDonuts

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Re: 2020 FIRE Cohort
« Reply #810 on: May 21, 2019, 08:49:01 PM »
Sold my company and took a stake in a larger company late last year.

Took a huge step today and met with my new partners to share my general concerns about balance of work and poor fit for position I'm in.

Took a risk and am giving them 6-12 mos notice that change is coming. They're good people and deserve that.

I was super nervous about it after more than 2 decades in this job, career.

I expected to be elated but mostly I'm keenly aware of the disappointment among them. I continue to work hard to make the combination a success but I know they hoped for more.

Ive also been wracked by self doubt. Good partners, good prospect, ability to take the dream of our prior company to another level.... But it's not my dream anymore.

I believe I'm moving in the right direction but this wasn't an easy step.

The good news, perhaps, is that they're showing a lot of flexibility in hoping to adapt a position to some role I'm interested in. We'll see.

Since this is often a numbers thread... 1.6m nw, $1.4m liquid and still carrying mortgage. Wife's small business covers our expenses and more. I earn quite a bit more. .. for now. But she can easily cover all household expenses so we can glide up toward $2m that makes us totally confident.

Linea_Norway

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Re: 2020 FIRE Cohort
« Reply #811 on: May 22, 2019, 04:19:07 AM »
07/2020     2sk22
??/2020     apurplelife
04-05/2020     aspiringnomad
08/2020     Bateaux
12/2020     BFGirl
??/2020     BlueMR2   
??/2020     catccc   
12/2020     david_shin
12/202?     desk_jockey
04/2020     DreamFIRE
??/2020      EscapeVelocity2020
04/2020     Exit2019
10/2020     Farmgirl
??/2020     FIREby2021
??/2020     FireLane
??/2020     FIREstache
??/2020     Freedomin5   
??/202?     Gumption
06/2020     ixtap (date uncertain)
??/2020     letsdoit
??/2020     LadyMaWhiskers
03/2020     Linea_Norway
10/2020     Maenad
11/2020     meatgrinder
12/2020     MoneyTree
01/2020     Now-non (or earlier, in 2019)
??/2020     onlykelsey   
04/2020     Pennycounter
03/2020     rab-bit
05/2020     Rcc
04/2020     robtown (maybe 12/31/2020)
10/2020     Rubyvroom
12/2020     Sand101
03/2020     TheContinaltalOp
12/2020     TheFIExplorer
11/2020    ToughMother
??/2020     tooqk4u22   
05/2020     Unique User (maybe 06/2020)
12/2020     ysette9


OLY:
2Birds1Stone

OMY:
RedefinedHappiness

FIREing later:
FIPurpose (date to decided)


I put in a date in front of my name: January 2020. I feel that that is now the date. It would be cool to be the first (semi-)early retiree in 2010. I till be 46 by then. We will see if it works out in practice.
« Last Edit: June 02, 2019, 12:34:33 PM by Linea_Norway »

meatgrinder

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Re: 2020 FIRE Cohort
« Reply #812 on: May 22, 2019, 09:25:08 AM »
Good luck Linda on hitting the 1/2020 date!  Can you please pencil me in for 11/2020? That's when the RSU golden handcuffs will be broken and I'll be free to soar above the canyons with the other 2020 early retirees.

FIREstache

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Re: 2020 FIRE Cohort
« Reply #813 on: May 22, 2019, 05:18:18 PM »

Welcome to the new 2020's that haven't made the list yet.

I keep straddling that $1.4M line, back above it yesterday, back below today.

aspiringnomad

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Re: 2020 FIRE Cohort
« Reply #814 on: May 22, 2019, 08:57:24 PM »
Probably safe to bump me back a couple months to April/May 2020. Logistically, that's going to work out better. Although I'm moving my anticipated FIRE date back, I've taken some very concrete steps towards making the actual date a reality, including selling my house (woohoo!) and (even crazier for me) beginning the conversation at work. I was not expecting to start the conversation this far ahead, but I mentioned my plans while turning down a pretty massive promotion opportunity. It's the first time I've ever turned one down and I gotta say it feels pretty great, and even better to acknowledge that I wouldn't be there forever. I don't think I'd have wanted the promotion even if I didn't plan to leave, but it's definitely not in the cards now, and (at least so far) I've got absolutely no regrets about that.

Linea_Norway

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Re: 2020 FIRE Cohort
« Reply #815 on: May 22, 2019, 11:51:01 PM »
Probably safe to bump me back a couple months to April/May 2020. Logistically, that's going to work out better. Although I'm moving my anticipated FIRE date back, I've taken some very concrete steps towards making the actual date a reality, including selling my house (woohoo!) and (even crazier for me) beginning the conversation at work. I was not expecting to start the conversation this far ahead, but I mentioned my plans while turning down a pretty massive promotion opportunity. It's the first time I've ever turned one down and I gotta say it feels pretty great, and even better to acknowledge that I wouldn't be there forever. I don't think I'd have wanted the promotion even if I didn't plan to leave, but it's definitely not in the cards now, and (at least so far) I've got absolutely no regrets about that.

Wow, you are well on your way, with selling your house and ignoring the promotion.

My DH is also taking it easier at work. He said he wanted to leave his management position and go back to being a subject matter expert only. They are currently in the hiring process for a replacement and DH might be "free" from his current position in August. DH has some health issues that become much worse with stress, so he could easily play the health card for this position change. We have both been working 80% this whole year, which is also a nice thing.

2sk22

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Re: 2020 FIRE Cohort
« Reply #816 on: May 23, 2019, 07:37:14 AM »
For me, its now beginning to feel like when you were a kid and summer vacation is approaching :-)

meatgrinder

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Re: 2020 FIRE Cohort
« Reply #817 on: May 23, 2019, 09:13:07 AM »
For me, its now beginning to feel like when you were a kid and summer vacation is approaching :-)

Haha..except it feels like school was in session 20x longer and the summer vacation will be at least 50x longer

RedefinedHappiness

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Re: 2020 FIRE Cohort
« Reply #818 on: May 23, 2019, 09:17:17 AM »
You can push me to the OMY list.  My job transition last year has allowed for time to focus on hobbies and my family and I'm not as desperate to FIRE as I used to be.  As a result, I am able to find more of a family compromise approach for my FIRE timing.  Probably will only be one year, but need to fund some future family dreams before cutting the cord.

ysette9

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Re: 2020 FIRE Cohort
« Reply #819 on: May 23, 2019, 09:38:22 AM »
You can push me to the OMY list.  My job transition last year has allowed for time to focus on hobbies and my family and I'm not as desperate to FIRE as I used to be.  As a result, I am able to find more of a family compromise approach for my FIRE timing.  Probably will only be one year, but need to fund some future family dreams before cutting the cord.
That sounds imminently reasonable. Good for you for finding a better balance. That will be my personal goal for next year.

FIREstache

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Re: 2020 FIRE Cohort
« Reply #820 on: May 23, 2019, 04:19:57 PM »
The way the market's dropping, I'm glad I moved to the more conservative AA when I did, back on May 3rd.  It makes it more tolerable - less stressful to see it drop, albeit I'm still losing $ in the stash.

FIREstache

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Re: 2020 FIRE Cohort
« Reply #821 on: May 30, 2019, 03:15:15 AM »
The way the market's dropping, I'm glad I moved to the more conservative AA when I did, back on May 3rd.  It makes it more tolerable - less stressful to see it drop, albeit I'm still losing $ in the stash.

Since my reallocation to less equities on May 3rd, the market has been going down.  Even with ~43% equities, I'm down about $35K.  I'm not ready to talk about OMY, but I hope this downward trend doesn't continue.  I still have a 2020 vision.

Bateaux

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Re: 2020 FIRE Cohort
« Reply #822 on: May 30, 2019, 08:28:15 PM »
I'm not allocated for a big market drop.  Most of my NW is still exposed to stocks.   If a big drop comes, I'm going to OMY, OMY till it returns. 

RedefinedHappiness

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Re: 2020 FIRE Cohort
« Reply #823 on: May 30, 2019, 08:47:24 PM »
I'm not allocated for a big market drop.  Most of my NW is still exposed to stocks.   If a big drop comes, I'm going to OMY, OMY till it returns.

Are you planning to adjust allocation once you FIRE and quit work?

Bateaux

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Re: 2020 FIRE Cohort
« Reply #824 on: May 31, 2019, 10:00:23 AM »
I'm not allocated for a big market drop.  Most of my NW is still exposed to stocks.   If a big drop comes, I'm going to OMY, OMY till it returns.

Are you planning to adjust allocation once you FIRE and quit work?

We're actually about 75/25 so that's good enough for me.  I'll find work whenever the stash dips below 2M.

FIREstache

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Re: 2020 FIRE Cohort
« Reply #825 on: May 31, 2019, 03:29:47 PM »
I'm not allocated for a big market drop.  Most of my NW is still exposed to stocks.   If a big drop comes, I'm going to OMY, OMY till it returns.

Are you planning to adjust allocation once you FIRE and quit work?

We're actually about 75/25 so that's good enough for me.  I'll find work whenever the stash dips below 2M.

75/25 isn't too crazy - I thought you meant 90% or so.  $2M would put FIRE out of reach for me.  I can't even hold on to $1.4M in this market - another drop today.  But I'm single and never bought a second home in Citrus County, so things still look ok for now.  I'm more concerned about the future of the ACA at this point.

Edit:  Investments are now down almost $40K since early this month.
« Last Edit: May 31, 2019, 05:17:19 PM by FIREstache »

BlueMR2

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Re: 2020 FIRE Cohort
« Reply #826 on: May 31, 2019, 05:38:21 PM »
The market doesn't really get me excited when it drops.  What really bugs me is when expenses go up.  And mine are really up this year.  Keep getting slammed with one big expensive emergency after another.  Working as much as I am right now too I don't have the time to do any of the labor myself, so having to outsource at today's insane labor rates.  Projecting I will have run through my total yearly budget with probably 3-4 months left in the year.  Unlikely I will be able to invest any money this year as I try to rebuild my emergency fund.

FIREstache

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Re: 2020 FIRE Cohort
« Reply #827 on: May 31, 2019, 06:20:56 PM »
The market doesn't really get me excited when it drops.  What really bugs me is when expenses go up.  And mine are really up this year.  Keep getting slammed with one big expensive emergency after another.  Working as much as I am right now too I don't have the time to do any of the labor myself, so having to outsource at today's insane labor rates.  Projecting I will have run through my total yearly budget with probably 3-4 months left in the year.  Unlikely I will be able to invest any money this year as I try to rebuild my emergency fund.

I mentioned it in my case study, but I've estimated up to $30K for home maintenance in the next two years including roofing, some furniture, replacing a few old appliances, some flooring, some structural, and more.  I've been putting off some things, so they didn't exactly sneak up on me.  I DIY what I can.  So, that will eat up a big chunk of what I would otherwise save this last year of working.

MoneyTree

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Re: 2020 FIRE Cohort
« Reply #828 on: May 31, 2019, 07:51:47 PM »
Yeah, the recent drop has put a dent in my 2020 plans. I'm still optimistic though, and it doesn't really change my approach in any way. Keep working, keep investing. The market will do what it will do. Its better that we get these drops while still working rather than after walking away.


Bateaux

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Re: 2020 FIRE Cohort
« Reply #829 on: June 01, 2019, 04:10:49 AM »
I'm not allocated for a big market drop.  Most of my NW is still exposed to stocks.   If a big drop comes, I'm going to OMY, OMY till it returns.

Are you planning to adjust allocation once you FIRE and quit work?

We're actually about 75/25 so that's good enough for me.  I'll find work whenever the stash dips below 2M.

75/25 isn't too crazy - I thought you meant 90% or so.  $2M would put FIRE out of reach for me.  I can't even hold on to $1.4M in this market - another drop today.  But I'm single and never bought a second home in Citrus County, so things still look ok for now.  I'm more concerned about the future of the ACA at this point.

Edit:  Investments are now down almost $40K since early this month.

Just checked Mint and the damages are pretty deep.  Stash is just over 2M now.  That is about a 100K drop in May.  If I weren't still.working, I'd be considering some kind of work to offset the drop below my 2M floor.  I think it's an easy plan for the early days of FIRE.  Eventually the stash should leave the 2M mark in the dust and rocket up to 3M.  I didn't save a big pot of money to spend it down.  I'm wanting perpetually larger stash, Bogleishly.

SuperSecretName

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Re: 2020 FIRE Cohort
« Reply #830 on: June 01, 2019, 07:36:59 AM »
re: market drop.

you 2020 people need to be prepared for a much bigger correction.  I'm not saying you should market time, but a 20% drop is not out of the question.  It may not materialize, but you really should be thinking about what you would do if it does.
« Last Edit: June 01, 2019, 07:38:51 AM by SuperSecretName »

Bateaux

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Re: 2020 FIRE Cohort
« Reply #831 on: June 01, 2019, 08:27:43 AM »
re: market drop.

you 2020 people need to be prepared for a much bigger correction.  I'm not saying you should market time, but a 20% drop is not out of the question.  It may not materialize, but you really should be thinking about what you would do if it does.

I'm thinking we'll retest last years lows before the end of the year.  It's my biggest reason for planning another 12 to 18 months of working.  There is nothing magic about 2020 for me to risk giving up a good job right before a recession.   There will be warning signs,  I'd prefer it to hit right now and get on to recovery as quickly as possible.  Kicking the can down the road may only deepen it.

FIREstache

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Re: 2020 FIRE Cohort
« Reply #832 on: June 01, 2019, 12:08:08 PM »
You'll have to work toward the end of that 12-18 mo. range to make it past the 2020 election.

My AA is prepared for drops, sustained drops at that, much longer than last year.  I was 80% equities heading into July 2018 and 60% equities heading into the big drop last year. I stuck it out through the recovery and finally reallocated on May 3, 2019 to about 43% in equites.  If a big drop happens after I FIRE, I'll simply avoid drawing down equities to bring my AA back in balance.  I'm 54, so I'm really not interested in the idea of returning to work at a much lower paying job after I FIRE, and that shouldn't be an issue since my stash is more than double what I need to pay required expenses when excluding discretionary, even when excluding SS from the calculation, which would be 10 to 15 years out.  I don't have a problem with my stash being spent down during retirement since I don't even have any kids.
« Last Edit: June 01, 2019, 12:18:52 PM by FIREstache »

Body Surfer

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Re: 2020 FIRE Cohort
« Reply #833 on: June 01, 2019, 03:45:00 PM »
I am aiming to retire Memorial Day 2020. Wife retired last year. I am enjoying this thread- a good group of folks

Linea_Norway

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Re: 2020 FIRE Cohort
« Reply #834 on: June 02, 2019, 12:34:03 PM »
It looks like my date might be 1rst of March 2020. DH made a case that you pay very low income taxes if you only have a really low income a year. Therefore it might be smart to utilize those first 2 months with income, almost tax free.

Linea_Norway

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Re: 2020 FIRE Cohort
« Reply #835 on: June 02, 2019, 12:42:22 PM »

07/2020     2sk22
??/2020     apurplelife
04-05/2020     aspiringnomad
08/2020     Bateaux
12/2020     BFGirl
??/2020     BlueMR2   
05/2020     Body Surfer
??/2020     catccc   
12/2020     david_shin
12/202?     desk_jockey
04/2020     DreamFIRE
??/2020      EscapeVelocity2020
04/2020     Exit2019
10/2020     Farmgirl
??/2020     FIREby2021
??/2020     FireLane
??/2020     FIREstache
??/2020     Freedomin5   
??/202?     Gumption
06/2020     ixtap (date uncertain)
??/2020     letsdoit
??/2020     LadyMaWhiskers
03/2020     Linea_Norway
10/2020     Maenad
11/2020     meatgrinder
12/2020     MoneyTree
01/2020     Now-non (or earlier, in 2019)
??/2020     onlykelsey   
04/2020     Pennycounter
03/2020     rab-bit
05/2020     Rcc
04/2020     robtown (maybe 12/31/2020)
10/2020     Rubyvroom
12/2020     Sand101
03/2020     TheContinaltalOp
12/2020     TheFIExplorer
11/2020    ToughMother
??/2020     tooqk4u22   
05/2020     Unique User (maybe 06/2020)
12/2020     ysette9


OLY:
2Birds1Stone

OMY:
RedefinedHappiness

FIREing later:
FIPurpose (date to decided)

FIREstache

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Re: 2020 FIRE Cohort
« Reply #836 on: June 02, 2019, 01:11:24 PM »
??/2020     FireLane
??/2020     FIREstash
??/2020     Freedomin5   

List has a FIREstash but no FIREstache.   FIREstache can be added.  Thanks.

Fixed. I cannot quote a FIREstash, so that name probably doesn't exist.

You are all free to quote and edit the list yourself as well.

Thanks.  It used to be that half the time I opened the 2019 thread, it was just a new post of the list, so there might be 3 posts of the list on the same page, so I try to avoid that.

Trifele on the 2019 list has fixed the excessive reposting by just editing the pre-existing (latest page) list. It helps if the list maintainer is 1 person who is quick about updates.  I wasn't, so Trifele picked up the list maintainance.

I still think we should use that idea here.  So should 2019.

FIREby2021

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Re: 2020 FIRE Cohort
« Reply #837 on: June 02, 2019, 02:34:26 PM »
Hola 2020 people!

May Highlights:

- Let's just agree that "down" months are less enjoyable to talk about.  Going in reverse feels bad, but hey ... it's a good reminder that none of us are in control and some months the markets take a header.  Energy holdings in particular were bad this month.  As mentioned in prior updates, May was also a lower savings month to handle a series of BIG expenses ... but we are now through all that and poised to get this train back & moving in the right direction.  NEXT!!

- We had several wonderful long weekends during May ... spent time with friends and out on our own exploring some new parts of the state.  I have a feeling June/July is going to FLY by, as I have some work travel, vacation time and another trip back north to help my family & work remotely. 

- Countdown: Reaching FI in 2020 seems unlikely after months like this; current math projects us reaching our goal by EOY 2020, but who knows what lies ahead.  My whiteboard countdown tracker now shows 21 months remain to reach our FIRE target timing of Q1-2021.

EOY 2015 = 53.8%
EOY 2016 = 67.8%
EOY 2017 = 75.5%
EOY 2018 = 81.6%


// FI target defined as 3.75% SWR, mortgage-free + giving/lump sum funded //

END OF MONTH PROGRESS:
JAN 2019  84.5%
FEB 2019  86.9%
MAR 2019 88.4%
APR 2019 89.0%
MAY 2019 86.1%

Later!

FIREby2021

itchyfeet

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Re: 2020 FIRE Cohort
« Reply #838 on: June 03, 2019, 04:23:23 AM »
92.2% here....

FIREstache

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Re: 2020 FIRE Cohort
« Reply #839 on: June 03, 2019, 06:12:53 PM »
98.4% as of today toward my preferred FIRE number, 252% of my base expenses "FI" number.

I had been at 101% and 260% respectively on May 3rd before stocks starting dropping.

I have enough of a discretionary buffer I may still FIRE even if I'm a few percent below my preferred number a year from now.

« Last Edit: June 03, 2019, 06:20:11 PM by FIREstache »

ysette9

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Re: 2020 FIRE Cohort
« Reply #840 on: June 04, 2019, 03:00:50 PM »
98.4% as of today toward my preferred FIRE number, 252% of my base expenses "FI" number.

I had been at 101% and 260% respectively on May 3rd before stocks starting dropping.

I have enough of a discretionary buffer I may still FIRE even if I'm a few percent below my preferred number a year from now.
That is a nice buffer! We dropped back down to 88% so next year may be a bit of a stretch depending on how the market performs between now and then. But that is okay. I am working on my part-time work proposal that I will submit to my management after I go on maternity leave. I would love to be part time next year to keep the level of insanity down. My husband has just started dipping his toes into the idea of part time for himself. I suspect he will want all of next year as full time income for himself at least so we can continue to pad our accounts. After that, who knows? Maybe part time work for both of us will be the perfect balance. Maybe just one of us doing part time to cover expenses and leave our investments untouched for a while longer will make him feel more secure. The important thing is FREEDOM and a better quality of life through more free time than we have now.

I’ve been planting little seeds in my husband’s mind while there is still time for them to sprout. “How about we spend each summer in another wonderful place in the world via a house exchange? What do you think of the summer somewhere in France or in the Swiss Alps?”

Linea_Norway

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Re: 2020 FIRE Cohort
« Reply #841 on: June 05, 2019, 12:38:47 AM »
That is a nice buffer! We dropped back down to 88% so next year may be a bit of a stretch depending on how the market performs between now and then. But that is okay. I am working on my part-time work proposal that I will submit to my management after I go on maternity leave. I would love to be part time next year to keep the level of insanity down. My husband has just started dipping his toes into the idea of part time for himself. I suspect he will want all of next year as full time income for himself at least so we can continue to pad our accounts. After that, who knows? Maybe part time work for both of us will be the perfect balance. Maybe just one of us doing part time to cover expenses and leave our investments untouched for a while longer will make him feel more secure. The important thing is FREEDOM and a better quality of life through more free time than we have now.

I’ve been planting little seeds in my husband’s mind while there is still time for them to sprout. “How about we spend each summer in another wonderful place in the world via a house exchange? What do you think of the summer somewhere in France or in the Swiss Alps?”

Working parttime will make you feel rich, having days off while everyone else is working. You will notice that the whole world is more quiet, less traffic, less people in shops and at attractions. When we went working 4 days a week, we did it both. This way we also both have a long weekend where we can travel away if we want to.

After FIRE, DH thinks that occasional work in his field of expertise will give us some cash to to extra things, like travel or a new car or so. I think our FIRE budget already allows for that. But as long as he feels that, I wouldn't mind him working a bit here and there. I don't really feel like doing the same. I told him I could be his assistant sometimes.
« Last Edit: June 05, 2019, 11:53:03 PM by Linea_Norway »

ysette9

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Re: 2020 FIRE Cohort
« Reply #842 on: June 05, 2019, 07:47:57 AM »
My father talked about some consulting work occasionally after retirement to bring in extra cash for play toys. Once he actually retired though he never seems to mention the idea of working again. They are too busy having fun. Maybe it will be the same with your husband.

FIREstache

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Re: 2020 FIRE Cohort
« Reply #843 on: June 10, 2019, 08:57:10 PM »
98.4% as of today toward my preferred FIRE number, 252% of my base expenses "FI" number.

I had been at 101% and 260% respectively on May 3rd before stocks starting dropping.

I have enough of a discretionary buffer I may still FIRE even if I'm a few percent below my preferred number a year from now.
That is a nice buffer! We dropped back down to 88% so next year may be a bit of a stretch depending on how the market performs between now and then. But that is okay. I am working on my part-time work proposal that I will submit to my management after I go on maternity leave. I would love to be part time next year to keep the level of insanity down. My husband has just started dipping his toes into the idea of part time for himself. I suspect he will want all of next year as full time income for himself at least so we can continue to pad our accounts. After that, who knows? Maybe part time work for both of us will be the perfect balance. Maybe just one of us doing part time to cover expenses and leave our investments untouched for a while longer will make him feel more secure. The important thing is FREEDOM and a better quality of life through more free time than we have now.

I’ve been planting little seeds in my husband’s mind while there is still time for them to sprout. “How about we spend each summer in another wonderful place in the world via a house exchange? What do you think of the summer somewhere in France or in the Swiss Alps?”

I'm back up to over 100% of my preferred number- $1.4M.  I could give up a chunk of that discretionary spending if I had to and still be happy in FIRE, but I wouldn't want to give up all of it and just covering my expenses.  But, at least on a temporary basis of a year or so, I could probably cut back up to 80% on my planned discretionary without feeling too squeezed.  I would just have to cut back on traveling.  I can't say for certain until I'm actually in that situation.

Since I'll be 55 at my FIRE target date, and I've already committed to OMY beyond my original 2019 target, I'm not sure I'll even want to continue working part time 10-11 months from now, if it's even an option.  I won't feel or be truly free until I FIRE from the job completely.  I'll see how I feel when the time comes.

Linea_Norway

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Re: 2020 FIRE Cohort
« Reply #844 on: June 18, 2019, 07:13:46 AM »
For those of you who are quitting there job and/or moving next year, are you already thinking about this being the last year?

I have this feeling quite often and had it from last year, as we did a OMY. I am often thinking that this is the last time I have to do this yearly task (at work or at home) or the last time I can do this seasonal thing in my neighbourhood.

Some tasks I am happy to loose next year. But I have lived in my current area for almost 2 decades and know the area well, and a good number of people. It will be pretty weird to move somewhere else and start from scratch again. I am a bit anxious about it. On the other hand, if we can do this moving at our own pace, without having to bother about a job, it should be quite doable.

In September/October it will start for real and we will hire a broker to start the home sale process. We will try to sell in winter time. Let's hope the market won't go down by then. Currently there are a couple of homes for sale in the area where I live and I'm surprices at the very high prices for not high-end homes. Our home has the greatest view you can imagine that that alone should make it very attractive for some people. It is also big and looks a bit high end from inside. Nice wooden floor, big living room, big fire place etc.

Bateaux

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Re: 2020 FIRE Cohort
« Reply #845 on: June 18, 2019, 11:01:22 AM »
For those of you who are quitting there job and/or moving next year, are you already thinking about this being the last year?

I have this feeling quite often and had it from last year, as we did a OMY. I am often thinking that this is the last time I have to do this yearly task (at work or at home) or the last time I can do this seasonal thing in my neighbourhood.

Some tasks I am happy to loose next year. But I have lived in my current area for almost 2 decades and know the area well, and a good number of people. It will be pretty weird to move somewhere else and start from scratch again. I am a bit anxious about it. On the other hand, if we can do this moving at our own pace, without having to bother about a job, it should be quite doable.

In September/October it will start for real and we will hire a broker to start the home sale process. We will try to sell in winter time. Let's hope the market won't go down by then. Currently there are a couple of homes for sale in the area where I live and I'm surprices at the very high prices for not high-end homes. Our home has the greatest view you can imagine that that alone should make it very attractive for some people. It is also big and looks a bit high end from inside. Nice wooden floor, big living room, big fire place etc.

It's passing too quickly actually.   I've actually given thought to calling it quits right now.  It's because it's my last month to pull the plug at 50.  Makes more sense to do so at 52 in 2020 in my case.  With the market up over 1% today we will have more money at the end of the day than we've ever had.  With the bull market still raging and good paychecks still rolling in I'm addicted.  The desire to see just how high it will go is what's driving me now.

FIREstache

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Re: 2020 FIRE Cohort
« Reply #846 on: June 18, 2019, 11:19:56 AM »
For those of you who are quitting there job and/or moving next year, are you already thinking about this being the last year?

I have this feeling quite often and had it from last year, as we did a OMY. I am often thinking that this is the last time I have to do this yearly task (at work or at home) or the last time I can do this seasonal thing in my neighbourhood.

Some tasks I am happy to loose next year. But I have lived in my current area for almost 2 decades and know the area well, and a good number of people. It will be pretty weird to move somewhere else and start from scratch again. I am a bit anxious about it. On the other hand, if we can do this moving at our own pace, without having to bother about a job, it should be quite doable.

In September/October it will start for real and we will hire a broker to start the home sale process. We will try to sell in winter time. Let's hope the market won't go down by then. Currently there are a couple of homes for sale in the area where I live and I'm surprices at the very high prices for not high-end homes. Our home has the greatest view you can imagine that that alone should make it very attractive for some people. It is also big and looks a bit high end from inside. Nice wooden floor, big living room, big fire place etc.

It's passing too quickly actually.   I've actually given thought to calling it quits right now.  It's because it's my last month to pull the plug at 50.  Makes more sense to do so at 52 in 2020 in my case.  With the market up over 1% today we will have more money at the end of the day than we've ever had.  With the bull market still raging and good paychecks still rolling in I'm addicted.  The desire to see just how high it will go is what's driving me now.

I thought it was the ACA and waiting out the next election cycle that was driving you?  The ACA uncertainty definitely is a concern to me, which was a big factor in me OMYing to spring 2020.  Due to my income, I have to strategize early in the year to keep my income at a certain level for a subsidy, so I will have my next good opportunity in the spring if things work out.

I definitely think about this being the last full year.  I was just planning out some of my summer vacation time (off from work) and was thinking this could be the last year that I ever have to plan when to use up my summer vacation time.

I might relocate after I FIRE also but not likely in the first year as I need to do some work on the house that I'm saving for some early FIRE projects.

Bateaux

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Re: 2020 FIRE Cohort
« Reply #847 on: June 18, 2019, 11:55:20 AM »
For those of you who are quitting there job and/or moving next year, are you already thinking about this being the last year?

I have this feeling quite often and had it from last year, as we did a OMY. I am often thinking that this is the last time I have to do this yearly task (at work or at home) or the last time I can do this seasonal thing in my neighbourhood.

Some tasks I am happy to loose next year. But I have lived in my current area for almost 2 decades and know the area well, and a good number of people. It will be pretty weird to move somewhere else and start from scratch again. I am a bit anxious about it. On the other hand, if we can do this moving at our own pace, without having to bother about a job, it should be quite doable.

In September/October it will start for real and we will hire a broker to start the home sale process. We will try to sell in winter time. Let's hope the market won't go down by then. Currently there are a couple of homes for sale in the area where I live and I'm surprices at the very high prices for not high-end homes. Our home has the greatest view you can imagine that that alone should make it very attractive for some people. It is also big and looks a bit high end from inside. Nice wooden floor, big living room, big fire place etc.

It's passing too quickly actually.   I've actually given thought to calling it quits right now.  It's because it's my last month to pull the plug at 50.  Makes more sense to do so at 52 in 2020 in my case.  With the market up over 1% today we will have more money at the end of the day than we've ever had.  With the bull market still raging and good paychecks still rolling in I'm addicted.  The desire to see just how high it will go is what's driving me now.

I thought it was the ACA and waiting out the next election cycle that was driving you?  The ACA uncertainty definitely is a concern to me, which was a big factor in me OMYing to spring 2020.  Due to my income, I have to strategize early in the year to keep my income at a certain level for a subsidy, so I will have my next good opportunity in the spring if things work out.

I definitely think about this being the last full year.  I was just planning out some of my summer vacation time (off from work) and was thinking this could be the last year that I ever have to plan when to use up my summer vacation time.

I might relocate after I FIRE also but not likely in the first year as I need to do some work on the house that I'm saving for some early FIRE projects.

Yeah.   Waiting out the election to try and predict the future of the ACA is a huge factor in not tossing in the towel.   If we lose it, I'm almost guaranteed to wait till 2023 when I'll qualify for company retiree health insurance.  That's over 4 years away.  Even greed won't keep me happy that long.

Linea_Norway

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Re: 2020 FIRE Cohort
« Reply #848 on: June 19, 2019, 01:36:01 AM »
We planned the route of our summer vacation next year. There is a place that DH wants to visit, which is a bit remote and off route. I told him that if we don't visit it now, we can do it some time in all the years after.

I have also asked him what the best time would be to walk the Pennine way in Brittain in 2020, when FIREd. He agreed om September being a good time, insect wise.

beeboy

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Re: 2020 FIRE Cohort
« Reply #849 on: June 19, 2019, 09:02:34 AM »
For those of you who are quitting there job and/or moving next year, are you already thinking about this being the last year?

I think it depends on the day. On a good day, you're like "I can do this a little while longer and collect the nice regular pay check" and on other days you're like "I can't stand this place another minute, want out right now and the pay isn't worth the aggravation." Also, I think a lot of us are probably still wondering if we'll really be alright financially once we FIRE. You look around and don't see anyone ER-ing in your circle in the real world and you get second thoughts. I think this place is great as a support system of like minded people who offer not only encouragement, but also proof that ER can be done. Thanks!