Author Topic: 2020 FIRE Cohort  (Read 427489 times)

DadzillaGorilla

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Re: 2020 FIRE Cohort
« Reply #900 on: July 04, 2019, 01:53:11 AM »
Everyone's investment strategy will be different, depending on so many factors including Risk v Return, Age, current portfolio split, current earning potential including passive income, location etc etc etc

I don't hold a lot of cash (average £4k in my bank but sometimes I get hit by bills that take it down to £1k), but think cash equivalents/liquid investments are a useful part of investing, especially something like gold which is often used to hedge dips in stock prices.

If you hold cash you are essentially eroding the value of your money every year by inflation - this does not work for me.

FIREstache

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Re: 2020 FIRE Cohort
« Reply #901 on: July 04, 2019, 07:44:33 AM »

Cash is just a another part of my non-equity allocation of my portfolio.

If you have a sizeable amount of cash, you wouldn't want to put it under your mattress or in a low interest checking or savings account.  You would want to use interest earning equivalents with a high enough yield so that it keeps track with inflation (or close as possible) while getting your real earnings over the longer term from your equity investments with the reduced volatility in the overall portfolio from cash equivalents, just as you would with bonds, but a reasonable alternative in today's low interest rate environment where bonds aren't likely to perform as well as they have historically during the 30 year bond bull market.

https://portfoliocharts.com/2017/05/12/understanding-cash-will-make-you-a-better-and-happier-investor/

tawyer

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Re: 2020 FIRE Cohort
« Reply #902 on: July 04, 2019, 10:29:30 AM »
https://portfoliocharts.com/2017/05/12/understanding-cash-will-make-you-a-better-and-happier-investor/
This link is great, thanks. I think the two main points are (1) cash equivalents have low volatility and are not necessarily eroded by inflation, and (2) there is a lot of recency bias about how well certain asset classes perform.

ToughMother

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Re: 2020 FIRE Cohort
« Reply #903 on: July 07, 2019, 02:06:18 PM »
Well, we're going to need to revisit this 2020 situation.  Totally on track, saving like champs.

AND THEN we found our forever house. 

So, we're in the midst of buying it, then we'll put a bunch into remodeling it/making it ours, and then we'll sell our current one (right, so we're carrying two houses and remodeling).  Our annual costs will go up a bit in the end, and since we're spending some of our investments on the house, it will be a double whammy of increased cost/decreased savings for the next year or so.

And that, MMMers, will push us out a few more years. 

Gotta do some math and find us a new cohort.  Ah well...I'll miss y'all.  I've been in this cohort for a while (January 31, 2016, 12:27:03 PM), and will hang around to enjoy watching you all hit your goals starting in January.  Take me off the 11/2020 timeline.  Sigh.  But I'll enjoy my mountain-view and walk-to-town home at that time next year.

« Last Edit: July 07, 2019, 02:22:17 PM by ToughMother »

Maenad

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Re: 2020 FIRE Cohort
« Reply #904 on: July 07, 2019, 05:39:44 PM »
Well, we're going to need to revisit this 2020 situation.  Totally on track, saving like champs.

AND THEN we found our forever house. 

If it makes you happy, it's the right thing for you! There are some things for each of us that spending money on genuinely does make us happier, and if the increased happiness offsets a few more years of working, it's worth it.

Maenad

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Re: 2020 FIRE Cohort
« Reply #905 on: July 07, 2019, 05:48:39 PM »
So, we just double-checked our numbers, and we hit FI just before Independence Day.

I'm totally proud of us, but this is unexpectedly... heavy. Like, the dream of 20 years is here, so now we need to follow through. We still need to save up some cash for some "kick-off" expenses, and if there's a recession in 2020 we'll push out our date, etc etc insert-caveats-here, but yeah. This may take a little while to sink in.

ysette9

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Re: 2020 FIRE Cohort
« Reply #906 on: July 07, 2019, 06:36:07 PM »
So, we just double-checked our numbers, and we hit FI just before Independence Day.

I'm totally proud of us, but this is unexpectedly... heavy. Like, the dream of 20 years is here, so now we need to follow through. We still need to save up some cash for some "kick-off" expenses, and if there's a recession in 2020 we'll push out our date, etc etc insert-caveats-here, but yeah. This may take a little while to sink in.
Congrats!

Linea_Norway

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Re: 2020 FIRE Cohort
« Reply #907 on: July 07, 2019, 11:21:34 PM »
The @ indicates FIRE age.

07/2020     2sk22
??/2020?    Alienbogey
??/2020     apurplelife
04-05/2020     aspiringnomad (@37)
08/2020     Bateaux
03-04+2/2020     Beeboy (@46)
12/2020     BFGirl
??/2020     BlueMR2   
??/2020     catccc
??/2020     DadzillaGorilla (FI@35, RE@40)
12/2020     david_shin
12/202?     desk_jockey
04/2020     DreamFIRE
??/2020      EscapeVelocity2020
04/2020     Exit2019
10/2020     Farmgirl
03/2020     FInding_peace (@38)
??/2020     FIREby2021
??/2020     FireLane (@38)
??/2020     FIREstache (@55)
??/2020     Freedomin5 (@38)
??/202?     Gumption
04/2020     Itchyfeet
06/2020     ixtap (date uncertain)
??/2020     letsdoit
??/2020     LadyMaWhiskers
05/2020     Lady Stash
05/2020     Life in Balance
02/2020     Linea_Norway (@46)
07-12/2020     MMM123
10/2020     Maenad
11/2020     meatgrinder
12/2020     MoneyTree (@36)
05/2020     Much fishing to do
12/2020     Nora
01/2020     Now-non (or earlier, in 2019)
??/2020     onlykelsey   
04/2020     Pennycounter
03/2020     rab-bit (@58)
05/2020     Rcc
04-12/2020     robtown
10/2020     Rubyvroom
12/2020     Sand101
03/2020     TheContinaltalOp
12/2020     TheFIExplorer
??/2020     tooqk4u22   
05-06/2020     Unique User
12/2020     ysette9 (@38)


OLY:
2Birds1Stone

OMY:
RedefinedHappiness

FIREing later:
FIPurpose (date to decided)
ToughMother (date to be decided)
« Last Edit: July 26, 2019, 10:52:19 AM by Linea_Norway »

Linea_Norway

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Re: 2020 FIRE Cohort
« Reply #908 on: July 07, 2019, 11:22:51 PM »
Well, we're going to need to revisit this 2020 situation.  Totally on track, saving like champs.

AND THEN we found our forever house. 

So, we're in the midst of buying it, then we'll put a bunch into remodeling it/making it ours, and then we'll sell our current one (right, so we're carrying two houses and remodeling).  Our annual costs will go up a bit in the end, and since we're spending some of our investments on the house, it will be a double whammy of increased cost/decreased savings for the next year or so.

And that, MMMers, will push us out a few more years. 

Gotta do some math and find us a new cohort.  Ah well...I'll miss y'all.  I've been in this cohort for a while (January 31, 2016, 12:27:03 PM), and will hang around to enjoy watching you all hit your goals starting in January.  Take me off the 11/2020 timeline.  Sigh.  But I'll enjoy my mountain-view and walk-to-town home at that time next year.

Congrats on finding your forever home. It must feel good to know that for sure. Walking distance to town sounds very good.

Farmgirl

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Re: 2020 FIRE Cohort
« Reply #909 on: July 09, 2019, 09:41:15 AM »
I don't check in often, but thought I would today.  My countdown clock hit 450 days till my date of 10/2020. 

After a stress test this morning with glow-in-the-dark juice, I am considering pulling the plug earlier though.  Medical things certainly have a way of making you look at your situation differently.  DH wants me to walk out the door now, but I just can't do it.  So I'm looking at a compromise situation of giving notice in January 2020 with several months to recruit and train my replacement.  DH says "If they wanted YOU out the door, you would get no notice whatsoever." 
He has a good point, because I've seen it done to two people here during my tenure.  But as Woody Allen stated, "I'd like to be well thought of."

So I'm doing my time right now, but knowing I can leave at any point is comforting.  Not changing my date here yet.  But it could happen!

markbike528CBX

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Re: 2020 FIRE Cohort
« Reply #910 on: July 09, 2019, 10:25:54 AM »
I don't check in often, but thought I would today.  My countdown clock hit 450 days till my date of 10/2020. 

After a stress test this morning with glow-in-the-dark juice, I am considering pulling the plug earlier though.  Medical things certainly have a way of making you look at your situation differently.  DH wants me to walk out the door now, but I just can't do it.  So I'm looking at a compromise situation of giving notice in January 2020 with several months to recruit and train my replacement.  DH says "If they wanted YOU out the door, you would get no notice whatsoever." 
He has a good point, because I've seen it done to two people here during my tenure.  But as Woody Allen stated, "I'd like to be well thought of."

So I'm doing my time right now, but knowing I can leave at any point is comforting.  Not changing my date here yet.  But it could happen!

A week after you leave, you won't be thought of at all.  Is 450 days worth it?

If you look at various threads where people gave extra long notices, management just ignored the notice, never recruited anyone,and/or left no time for training the replacement, and then acted surprised when the retirement happened anyway.

Edit to ad link to thread.
https://forum.mrmoneymustache.com/post-fire/when-you-retired-early-how-did-you-resign/
« Last Edit: July 09, 2019, 10:41:00 AM by markbike528CBX »

rab-bit

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Re: 2020 FIRE Cohort
« Reply #911 on: July 09, 2019, 11:17:58 AM »
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!

Some updates:
  • Rental #3 renovation is complete and we have found tenants. We'll be meeting with them to get the deposit to hold tomorrow.
  • We closed on the new condo retirement home on 7/1 and will be starting renovations on that as soon as I get past some work deadlines in the next few weeks. We will also be getting our current home ready to list for sale.
  • I'm afraid that the downshift work possibilities may not materialize. One is almost certainly dead, and I need to follow up on the other one.
  • It's looking more and more like there may be a buyout offer at my company around September. If so, I would probably take it.

Farmgirl

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Re: 2020 FIRE Cohort
« Reply #912 on: July 09, 2019, 11:35:43 AM »
Thank you Mark for the link.  That's about a wake-up call.

Lews Therin

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Re: 2020 FIRE Cohort
« Reply #913 on: July 09, 2019, 11:45:44 AM »
I had to give 6 months notice because i'm military. They sent a replacement who was going on paternity for 9 months.
What a waste of effort for them to know in advance.

Linea_Norway

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Re: 2020 FIRE Cohort
« Reply #914 on: July 09, 2019, 02:28:55 PM »
I don't check in often, but thought I would today.  My countdown clock hit 450 days till my date of 10/2020. 

After a stress test this morning with glow-in-the-dark juice, I am considering pulling the plug earlier though.  Medical things certainly have a way of making you look at your situation differently.  DH wants me to walk out the door now, but I just can't do it.  So I'm looking at a compromise situation of giving notice in January 2020 with several months to recruit and train my replacement.  DH says "If they wanted YOU out the door, you would get no notice whatsoever." 
He has a good point, because I've seen it done to two people here during my tenure.  But as Woody Allen stated, "I'd like to be well thought of."

So I'm doing my time right now, but knowing I can leave at any point is comforting.  Not changing my date here yet.  But it could happen!

A week after you leave, you won't be thought of at all.  Is 450 days worth it?

If you look at various threads where people gave extra long notices, management just ignored the notice, never recruited anyone,and/or left no time for training the replacement, and then acted surprised when the retirement happened anyway.

Edit to ad link to thread.
https://forum.mrmoneymustache.com/post-fire/when-you-retired-early-how-did-you-resign/

+1.

Can you find another, less stessful job to fill the time until you can afford to FIRE? No job is worth your health.

I am also a person who is easily stressed. I am therefore working 80%, despite the cost for it. My health is more important.

FIREstache

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Re: 2020 FIRE Cohort
« Reply #915 on: July 09, 2019, 03:28:34 PM »
If you look at various threads where people gave extra long notices, management just ignored the notice, never recruited anyone,and/or left no time for training the replacement, and then acted surprised when the retirement happened anyway.

I don't want to give long notice for the exact opposite reason.  The exec that I work under is always wanting me to document things to a ridiculous degree with screenshots, and he is always talking about cross coverage among staff and such as it is.  I have a lot of unique technical job functions that no one else knows how to do.  Once I give notice, it will put those same ideas of his on steroids.  He'll bring up everything I do asking for documentation and possibly even have someone start working with me in my office.  Argh, that's something I want to minimize, so I am thinking more like one month notice, maybe two since I'll be taking vacation days in there as well.

Much Fishing to Do

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Re: 2020 FIRE Cohort
« Reply #916 on: July 10, 2019, 02:08:55 PM »
oh my god.  I'm done with this crap.  I'm in.  May 2020

markbike528CBX

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Re: 2020 FIRE Cohort
« Reply #917 on: July 10, 2019, 04:22:59 PM »
If you look at various threads where people gave extra long notices, management just ignored the notice, never recruited anyone,and/or left no time for training the replacement, and then acted surprised when the retirement happened anyway.

I don't want to give long notice for the exact opposite reason.  The exec that I work under is always wanting me to document things to a ridiculous degree with screenshots, and he is always talking about cross coverage among staff and such as it is.  I have a lot of unique technical job functions that no one else knows how to do.  Once I give notice, it will put those same ideas of his on steroids.  He'll bring up everything I do asking for documentation and possibly even have someone start working with me in my office.  Argh, that's something I want to minimize, so I am thinking more like one month notice, maybe two since I'll be taking vacation days in there as well.

Mmmmm. Just say no?
At the most, do YOUR job to YOUR satisfaction, nothing more.
If you are allowed to take vacation, that means they can get along without you.

markbike528CBX

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Re: 2020 FIRE Cohort
« Reply #918 on: July 10, 2019, 06:01:02 PM »
If you look at various threads where people gave extra long notices, management just ignored the notice, never recruited anyone,and/or left no time for training the replacement, and then acted surprised when the retirement happened anyway.

I don't want to give long notice for the exact opposite reason.  The exec that I work under is always wanting me to document things to a ridiculous degree with screenshots, and he is always talking about cross coverage among staff and such as it is.  I have a lot of unique technical job functions that no one else knows how to do.  Once I give notice, it will put those same ideas of his on steroids.  He'll bring up everything I do asking for documentation and possibly even have someone start working with me in my office.  Argh, that's something I want to minimize, so I am thinking more like one month notice, maybe two since I'll be taking vacation days in there as well.

Mmmmm. Just say no?
At the most, do YOUR job to YOUR satisfaction, nothing more.
If you are allowed to take vacation, that means they can get along without you.

Ha, I haven't taken more than 2  consecutive days of vacation in a week in a few years.  And sometimes they can't even get by that long without calling me or without me getting some automated alert that I need to take care of something at work.  There's definitely some knowledge transfer to take place, but I rather minimize the time I spend doing it and leave it until the last month or two.  I might be willing to stay on part time or an as-needed basis for a while - I'll wait and see how I feel about that when the time comes.

I can't say no to them moving someone else into my office space to work with me, if that's what they choose.  And I wouldn't want to burn any bridges or leave on bad terms after being there for about 20 years by refusing to do what they request in those final weeks.  I think I can tolerate a month or two of that with vacation days mixed in, so that's when I would time my notice.

Respectfully, sounds like Stockholm Syndrome. 

You are making their problem your problem.
If you've been there 20 years, there should already be someone with 10+ years who could step up. Anything else is a big management fail, unless you've been aggressively hoarding info and techniques..
 What if you were hit by the incoming asteroid?

markbike528CBX

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Re: 2020 FIRE Cohort
« Reply #919 on: July 10, 2019, 09:04:39 PM »
If you look at various threads where people gave extra long notices, management just ignored the notice, never recruited anyone,and/or left no time for training the replacement, and then acted surprised when the retirement happened anyway.

I don't want to give long notice for the exact opposite reason.  The exec that I work under is always wanting me to document things to a ridiculous degree with screenshots, and he is always talking about cross coverage among staff and such as it is.  I have a lot of unique technical job functions that no one else knows how to do.  Once I give notice, it will put those same ideas of his on steroids.  He'll bring up everything I do asking for documentation and possibly even have someone start working with me in my office.  Argh, that's something I want to minimize, so I am thinking more like one month notice, maybe two since I'll be taking vacation days in there as well.

Mmmmm. Just say no?
At the most, do YOUR job to YOUR satisfaction, nothing more.
If you are allowed to take vacation, that means they can get along without you.

Ha, I haven't taken more than 2  consecutive days of vacation in a week in a few years.  And sometimes they can't even get by that long without calling me or without me getting some automated alert that I need to take care of something at work.  There's definitely some knowledge transfer to take place, but I rather minimize the time I spend doing it and leave it until the last month or two.  I might be willing to stay on part time or an as-needed basis for a while - I'll wait and see how I feel about that when the time comes.

I can't say no to them moving someone else into my office space to work with me, if that's what they choose.  And I wouldn't want to burn any bridges or leave on bad terms after being there for about 20 years by refusing to do what they request in those final weeks.  I think I can tolerate a month or two of that with vacation days mixed in, so that's when I would time my notice.

Respectfully, sounds like Stockholm Syndrome. 

You are making their problem your problem.
If you've been there 20 years, there should already be someone with 10+ years who could step up. Anything else is a big management fail, unless you've been aggressively hoarding info and techniques..
 What if you were hit by the incoming asteroid?

Actually, I'm not making it my problem - just the opposite!  I said I would give just one or two months notice for my own benefit, not the long notice that you were referring to - which was NEVER part of my plan because I know the negative fallout from a long notice.  One month notice and part of another month of vacation days is pretty mild to help train someone.  And it's actually a very common thing for people to do when someone is leaving a company, so I'm not sure why you call that Stockholm Syndrome.  But sorry, I have no intentions of giving any longer of a notice.

No, there is no one else with my job title and job description, so there is very limited overlap with anyone else's duties, and I do many unique things due to my job and skills, some are very occasional, some more regularly.  It's not hoarding or being aggressive when you're simply doing your job, that is yours alone, and not something anyone shares in those job duties with you.  People are busy with their own jobs - they do what they're supposed to be doing, not spending their time coming down to my office asking me how I do mine, and I wouldn't want them to take time away from me getting work done in order to train them on things they won't do (and will only disrupt their own work) until I'm about ready to leave/retire, at which point, I will provide sufficient training over a month or two.  It's that's easy.

I've never known anyone to get hit by an asteroid, so they probably consider that a low risk.  They can't afford another one of me.  At one point, they tried that, but the "experienced and skilled" new guy wasn't nearly as productive, seemed to lack motivation and energy, and it cut my productivity in helping/training him over about two years, so when there were some company cutbacks, they eliminated his position, so I've been the only one in my position for the last couple years, which has been fine by me, because I get more done now.

The word was "unless", so it seems like a management fail, not you.

The direction I was going was for less than a month, and not feeling any need for "willing to stay on part time or an as-needed basis for a while".

It is unlikely that anything you do or don't do between notice and "out-the-door" will make any difference on how you are perceived on day one after "out-the-door".

"more than 2  consecutive days of vacation in a week in a few years.  And sometimes they can't even get by that long without calling me" ---  sounds like kidnapping/abuse to me, which is a basis for the Stockholm idea.  Being needed that badly is an ego boost.

Sorry if I seem harsh, but that's how I see it.  My wording probably could be better.




Linea_Norway

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Re: 2020 FIRE Cohort
« Reply #920 on: July 10, 2019, 10:51:03 PM »
If you look at various threads where people gave extra long notices, management just ignored the notice, never recruited anyone,and/or left no time for training the replacement, and then acted surprised when the retirement happened anyway.

I don't want to give long notice for the exact opposite reason.  The exec that I work under is always wanting me to document things to a ridiculous degree with screenshots, and he is always talking about cross coverage among staff and such as it is.  I have a lot of unique technical job functions that no one else knows how to do.  Once I give notice, it will put those same ideas of his on steroids.  He'll bring up everything I do asking for documentation and possibly even have someone start working with me in my office.  Argh, that's something I want to minimize, so I am thinking more like one month notice, maybe two since I'll be taking vacation days in there as well.

Mmmmm. Just say no?
At the most, do YOUR job to YOUR satisfaction, nothing more.
If you are allowed to take vacation, that means they can get along without you.

Ha, I haven't taken more than 2  consecutive days of vacation in a week in a few years.  And sometimes they can't even get by that long without calling me or without me getting some automated alert that I need to take care of something at work.  There's definitely some knowledge transfer to take place, but I rather minimize the time I spend doing it and leave it until the last month or two.  I might be willing to stay on part time or an as-needed basis for a while - I'll wait and see how I feel about that when the time comes.

I can't say no to them moving someone else into my office space to work with me, if that's what they choose.  And I wouldn't want to burn any bridges or leave on bad terms after being there for about 20 years by refusing to do what they request in those final weeks.  I think I can tolerate a month or two of that with vacation days mixed in, so that's when I would time my notice.

Respectfully, sounds like Stockholm Syndrome. 

You are making their problem your problem.
If you've been there 20 years, there should already be someone with 10+ years who could step up. Anything else is a big management fail, unless you've been aggressively hoarding info and techniques..
 What if you were hit by the incoming asteroid?

Actually, I'm not making it my problem - just the opposite!  I said I would give just one or two months notice for my own benefit, not the long notice that you were referring to - which was NEVER part of my plan because I know the negative fallout from a long notice.  One month notice and part of another month of vacation days is pretty mild to help train someone.  And it's actually a very common thing for people to do when someone is leaving a company, so I'm not sure why you call that Stockholm Syndrome.  But sorry, I have no intentions of giving any longer of a notice.

No, there is no one else with my job title and job description, so there is very limited overlap with anyone else's duties, and I do many unique things due to my job and skills, some are very occasional, some more regularly.  It's not hoarding or being aggressive when you're simply doing your job, that is yours alone, and not something anyone shares in those job duties with you.  People are busy with their own jobs - they do what they're supposed to be doing, not spending their time coming down to my office asking me how I do mine, and I wouldn't want them to take time away from me getting work done in order to train them on things they won't do (and will only disrupt their own work) until I'm about ready to leave/retire, at which point, I will provide sufficient training over a month or two.  It's that's easy.

I've never known anyone to get hit by an asteroid, so they probably consider that a low risk.  They can't afford another one of me.  At one point, they tried that, but the "experienced and skilled" new guy wasn't nearly as productive, seemed to lack motivation and energy, and it cut my productivity in helping/training him over about two years, so when there were some company cutbacks, they eliminated his position, so I've been the only one in my position for the last couple years, which has been fine by me, because I get more done now.

The word was "unless", so it seems like a management fail, not you.

The direction I was going was for less than a month, and not feeling any need for "willing to stay on part time or an as-needed basis for a while".

It is unlikely that anything you do or don't do between notice and "out-the-door" will make any difference on how you are perceived on day one after "out-the-door".

"more than 2  consecutive days of vacation in a week in a few years.  And sometimes they can't even get by that long without calling me" ---  sounds like kidnapping/abuse to me, which is a basis for the Stockholm idea.  Being needed that badly is an ego boost.

Sorry if I seem harsh, but that's how I see it.  My wording probably could be better.

If the company already calls you on your occasional vacation days, they will probably also call you constantly after FIRE, if you keep a connection with them.

I think you should spend some of your remaining time before notice to document some critical parts that a person with your experince needs to figure the job out. And then give a shortish notice. You find 2 weeks to short and are almost talking about 2 months now. I wouldn't make it more than a month in your case. Your boss has let this go on for years and it is a distaster waiting to happen.

2sk22

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Re: 2020 FIRE Cohort
« Reply #921 on: July 12, 2019, 06:51:57 AM »
Things are finally getting real for me. Earlier, I thought I'd be around until middle of next year but I'm now sure that I'm going to be done by the end of the year. My goal now is to stick around until the end of the year for certain vesting events and then call it quits.

I've already made a good start in getting my finances tidied up. Disposed some granted stock and moved it to index funds. Getting wills and directives cleaned up. Mood has really improved :-)

Farmgirl

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Re: 2020 FIRE Cohort
« Reply #922 on: July 12, 2019, 06:59:02 AM »
2sk22....   Good on ya!  Looking to do the same thing myself!

itchyfeet

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Re: 2020 FIRE Cohort
« Reply #923 on: July 13, 2019, 10:48:20 AM »
Now at 94%. Spitting distance 😁

FIREstache

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Re: 2020 FIRE Cohort
« Reply #924 on: July 13, 2019, 10:56:07 AM »
I'm at 3.4% WR if I was to FIRE today based on the ACA being available and $26K/yr discretionary spending (for just me).

That would drop to 2.1% WR when SS kicks in after 10 years and factoring in higher Medicare costs, same $26K/yr discretionary.

The promised SS benefit will pay for about everything but my discretionary spending.

$26K/yr discretionary far exceeds what I've ever spent on discretionary expenses in any year of my life, so it doesn't seem likely that I'll spend nearly that much unless I do a lot of traveling, which I haven't done much of during my working life, so I suspect I'll actually spend less than 3.4%, but that's what I'm allowing in my budget for now.

Edit:  I may end up relocating within the first couple years of FIRE, and I'm already living in a LCOL area, but I'm hoping that I'll be able to maintain the same WR, even if I might have to cut back on discretionary spending.  If I'm lucky, I'll even come out ahead.
« Last Edit: July 13, 2019, 12:46:32 PM by FIREstache »

2sk22

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Re: 2020 FIRE Cohort
« Reply #925 on: July 18, 2019, 03:30:32 PM »
So some interesting things happened in the past 24 hours :-)

My plan was to stick it out for a few more months in my exceedingly boring (but very well paying) job for a few more months and then call it quits in December or early next year.

Unexpectedly, I got a call from an old friend who is a founder in a well funded tech startup. Not only did he make an offer exceeding what I make now but I pretty much get to do whatever I want in addition to mentoring the younger employees.

So with great happiness, I just quit from the big company and accepted the offer. If the startup survives the year, great. If not, no problem. I'm well past FI so this stint will be a nice cap to my career.

With luck, I may get to "leave on a high note" (thinking of George Costanza from Seinfeld https://youtu.be/O27RzZEOkeA ) :-)

ysette9

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Re: 2020 FIRE Cohort
« Reply #926 on: July 18, 2019, 04:39:51 PM »
So some interesting things happened in the past 24 hours :-)

My plan was to stick it out for a few more months in my exceedingly boring (but very well paying) job for a few more months and then call it quits in December or early next year.

Unexpectedly, I got a call from an old friend who is a founder in a well funded tech startup. Not only did he make an offer exceeding what I make now but I pretty much get to do whatever I want in addition to mentoring the younger employees.

So with great happiness, I just quit from the big company and accepted the offer. If the startup survives the year, great. If not, no problem. I'm well past FI so this stint will be a nice cap to my career.

With luck, I may get to "leave on a high note" (thinking of George Costanza from Seinfeld https://youtu.be/O27RzZEOkeA ) :-)
Cool! Have fun

alienbogey

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Re: 2020 FIRE Cohort
« Reply #927 on: July 21, 2019, 09:46:34 AM »
Okay, I've decided to join the 2020 Cabal Cohort.  I'm doing it primarily to give myself a tiny little extra nudge towards pulling the plug now, next year, or later (but not much later).  How's that for commitment?

DW and I are FI right now and could tell the company that I work for & despise to go take a long walk off a short pier.  On the other hand, I still like the job (used to love it, but the heartless/soulless megacorp has sucked all most of the fun out of it). 

Furthermore, our two adult kids still require some financial assistance (not something I want to get into on this thread and, hopefully, both cases should be resolved by year end).  Fat paychecks make that easier to deal with.

Our plan as been to make it to 11/20 which will mark a significant pension goalpost, then cut back to about half a work schedule, see if I like it, and continue month to month until I can't stand it anymore.  DW has already pushed back her quitting date to from 5/19 to 11/19, and we'll see if she follows through.

By every calculation I can find we could both quit yesterday, so I guess we're just piling it higher and deeper at this point.  But, there are still aspects of the job that I like. 

Maybe more dithering would help.




ScreamingHeadGuy

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Re: 2020 FIRE Cohort
« Reply #928 on: July 21, 2019, 07:02:18 PM »
...By every calculation I can find we could both quit yesterday, so I guess we're just piling it higher and deeper at this point.  But, there are still aspects of the job that I like. 

Maybe more dithering would help.

I understand you.  The math states what it states, yet the math doesnít control the heart.  Since the math has worked itself out I find myself focusing (or trying to) on the non-fiscal side of life, so as to get that in order for my RE.  Sometimes I canít shake the feeling that Iím planning to jump out of a fully functioning airplane just to prove I have a parachute.  So dither on, man - dither on.

AO1FireTo

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Re: 2020 FIRE Cohort
« Reply #929 on: July 21, 2019, 08:15:13 PM »
...By every calculation I can find we could both quit yesterday, so I guess we're just piling it higher and deeper at this point.  But, there are still aspects of the job that I like. 

Maybe more dithering would help.

I understand you.  The math states what it states, yet the math doesnít control the heart.  Since the math has worked itself out I find myself focusing (or trying to) on the non-fiscal side of life, so as to get that in order for my RE.  Sometimes I canít shake the feeling that Iím planning to jump out of a fully functioning airplane just to prove I have a parachute.  So dither on, man - dither on.

Haha love that analogy, that sums up my feelings on FIRE as well.  Just have to make sure we test the parachute enough I guess :)

Lady Stash

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Re: 2020 FIRE Cohort
« Reply #930 on: July 22, 2019, 07:14:21 PM »
This is my cohort!

I am exploring quitting my job in May 2020 to pursue side projects (TBD) &/or take some career risks.   I'll be 45.

My home is paid for and the stash as of today would provide around 28K/year at a 4% withdrawal rate.  By April '20, I'll hopefully have added another 40K via a backdoor Roth so ideally that number will be 30K/year, if the markets hold onto their recent gains.
My home has 4 bedrooms and I have a couple roommates moving in Aug 1st which adds about 25K/year.   

My tentative plan is to have a side gig and roommates cover most-to-all of my expenses and leave the stash to grow some more.  Then in 5-10 years if I no longer want roommates or want to lose the side gig or health care expenses start to bite, I'll have options.

It feels a bit risky to me - what if ACA goes away, or rents go down or the market tanks over the next 10 yearsÖ so I may end up OMY or 2 more years or 5 more years.

But right now the tentative plan is to pull the cord in May 2020.
« Last Edit: July 23, 2019, 09:16:32 AM by Lady Stash »

Farmgirl

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Re: 2020 FIRE Cohort
« Reply #931 on: July 23, 2019, 07:09:05 AM »
Lady Stash!  I feel you with the ACA thing.  It is scary not knowing what will happen.  I'm only 4 years out to Medicare and still scared!  I've run the numbers, re-run the numbers, and run them again.  But it is still scary for me.  But nevertheless, I'm looking to moving my date up in January 2020.  That's what I'm trying for anyway.  You sound like you have a great plan!

Linea_Norway

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Re: 2020 FIRE Cohort
« Reply #932 on: July 23, 2019, 07:28:58 AM »
Welcome to the new members of the cohort.

nora

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Re: 2020 FIRE Cohort
« Reply #933 on: July 24, 2019, 03:19:42 AM »
I am hoping to be RE just before Christmas 2020 so joining this cohort. I'll be 42 with two kids and a husband who retired a few years ago.

2Birds1Stone

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Re: 2020 FIRE Cohort
« Reply #934 on: July 26, 2019, 07:40:33 AM »
Guess who's back, back again.

Farmgirl

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Re: 2020 FIRE Cohort
« Reply #935 on: July 26, 2019, 08:03:46 AM »
We are heading to our local Social Security office on Monday afternoon.  Hopefully will get some answers!
My date may be moving up!

This sounds silly, but I'm really excited to go to the Social Security office!


Life in Balance

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Re: 2020 FIRE Cohort
« Reply #936 on: July 26, 2019, 08:32:07 AM »
I'm planning on leaving my FT job in May 2020, so it'll be Coast FIRE for me. 

Linea_Norway

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Re: 2020 FIRE Cohort
« Reply #937 on: July 26, 2019, 10:54:34 AM »
Guess who's back, back again.

Welcome back. Did something happen or do you just generally want some more cushioning?

Body Surfer

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Re: 2020 FIRE Cohort
« Reply #938 on: July 26, 2019, 04:41:36 PM »
I will be retiring late May 2020. Only an immense s&p 500 drop will change my mind;  but we r only 45% stocks, thus our cash positions would allow us to ride out the storm, even if it lasted 10 yrs

Bateaux

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Re: 2020 FIRE Cohort
« Reply #939 on: July 26, 2019, 07:45:17 PM »
Now at 94%. Spitting distance 😁

We were at 100% then the downturn of 2018 hit and we dropped to 85%.  I moved the goal posts out further after that.  Now were almost 90% of the new number and 108% of the old number.

exit2019

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Re: 2020 FIRE Cohort
« Reply #940 on: July 28, 2019, 01:06:04 PM »
Someone remind me of how goddamn miserable I am sometime around March when the inevitable concerns creep in and the company tries to retain me by dumping money on me.  Another zero weekend preparing for work this week.


markbike528CBX

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Re: 2020 FIRE Cohort
« Reply #941 on: July 28, 2019, 07:49:52 PM »
Iíd bail NOW.
As the OP of the 2019, I have no conflict of interest :-)

Trifele

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Re: 2020 FIRE Cohort
« Reply #942 on: July 29, 2019, 08:45:22 AM »
Iíd bail NOW.
As the OP of the 2019, I have no conflict of interest :-)

The OP of 2019, who bailed early and FIREd in 2018.  ;)

Yes -- definitely bail now @exit2019!  Look at your name ferpetesake 

firebrand

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Re: 2020 FIRE Cohort
« Reply #943 on: August 01, 2019, 06:28:46 AM »
Hello class of 2020.

If I'm patient, my fire date is December 31, 2020
If I'm impatient, my fire date is May something 2020

Happy to be a member of this class!

2Birds1Stone

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Re: 2020 FIRE Cohort
« Reply #944 on: August 01, 2019, 09:11:35 AM »
Welcome back. Did something happen or do you just generally want some more cushioning?

Working through March would allow us to increase portfolio by ~8-10%, and get through the boring winter months with something to do. Can't really depart for our trip till then anyway, I still may end up in the 2019 cohort if work sucks/get fired.

Maenad

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Re: 2020 FIRE Cohort
« Reply #945 on: August 01, 2019, 10:15:34 AM »
We hit FI in July, so now we're saving up cash for a few large purchases that we want to able to make immediately, if needed. We should be ready about March-April 2020 if the market holds. If we have a recession/bear, we'll work until the end of 2020 to save up a large cash cushion to live off of until markets recover. It's getting real!

exit2019

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Re: 2020 FIRE Cohort
« Reply #946 on: August 01, 2019, 10:58:24 AM »
Iíd bail NOW.
As the OP of the 2019, I have no conflict of interest :-)

I understand that impulse, :-) I thought we were there in 2/2019, but basically my wife and I are not quite where we need to be.  We will be by spring.  I've already resigned; this year was a one year stay-for-pay.

FIREby2021

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Re: 2020 FIRE Cohort
« Reply #947 on: August 01, 2019, 11:24:55 AM »
Hola 2020 compadres ...

July Highlights:

- Another good month of meeting our saving and giving goals ... we went ahead and booked some international airfares for a 2020 trip we'll be taking, so next month will see a bit of a dip to pay that off.  Overall we made minor progress up this month.  Given I take the snapshot on the first day of each month, yesterday's market decline kept us officially below the 90% progress marker toward our ultimate goal.  I was thinking we'd hit that today, but no such luck.  Onward!!

- After some fun vacation time in June, I still managed to minimize my office time during July due to my 2 weeks of remote work while supporting my aging parents out-of-state.  That was time well-spent, and I felt overall like I was really productive this month @ work, both in and out of office.  Good balance, which I'm thankful for.

- Travel: Both August and September will include international work trips to break up the routine, and September will feature a vacation with friends to our future FIRE location!  Hopefully by then it starts to cool off down here, as the summer starts to dissipate.  We are currently in the general mode of saying "YES" to everything that comes our way when it comes to time with friends, trips and opportunities, etc.  This is really helping ensure we balance making the most of TODAY while looking forward to the FUTURE.

- As of today, our NW provides the following: a paid-off FIRE home, fully-funded FIRE lump sums (giving, renovation budget, new car) and a WR of 4.40% based on our projected annual spend (living expenses, taxes, home maintenance, travel, healthcare, etc.).

- Countdown: Assuming monthly progress on par with our historic averages, we should reach our ultimate WR goal of 3.75% by Q4-2020, but who knows what lies ahead.  My whiteboard countdown tracker now shows 19 months to reach our most-likely 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 sums 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%
JUN 2019 89.3%
JUL 2019 89.6%

Have a great August!

FIREby2021

Linea_Norway

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Re: 2020 FIRE Cohort
« Reply #948 on: August 02, 2019, 12:26:06 PM »
The @ indicates FIRE age.
04/2020     2Birds1Stone
07/2020     2sk22
??/2020?    Alienbogey
??/2020     apurplelife
04-05/2020     aspiringnomad (@37)
08/2020     Bateaux
03-04+2/2020     Beeboy (@46)
12/2020     BFGirl
??/2020     BlueMR2   
??/2020     catccc
03/2020     CrazyIT
??/2020     DadzillaGorilla (FI@35, RE@40)
12/2020     david_shin
12/202?     desk_jockey
04/2020     DreamFIRE
??/2020      EscapeVelocity2020
04/2020     Exit2019
10/2020     Farmgirl
03/2020     FInding_peace (@38)
05-12/2020     firebrand
??/2020     FIREby2021
07/2020     FireLane (@38)
??/2020     FIREstache (@55)
??/2020     Freedomin5 (@38)
??/202?     Gumption
04/2020     Itchyfeet
06/2020     ixtap (date uncertain)
??/2020     letsdoit
??/2020     LadyMaWhiskers
05/2020     Lady Stash
01/2020     Linea_Norway (@46)
07-12/2020     MMM123
10/2020     Maenad
12/2020     MoneyTree (@36)
05/2020     Much fishing to do
12/2020     Nora
01/2020     Now-non (or earlier, in 2019)
??/2020     onlykelsey   
03-04/2020     Padonak
04/2020     Pennycounter
03/2020     rab-bit (@58)
05/2020     Rcc
04-12/2020     robtown
10/2020     Rubyvroom
12/2020     Sand101
03/2020     TheContinaltalOp
12/2020     TheFIExplorer
??/2020     tooqk4u22   
07/2020     Unique User
12/2020     ysette9 (@38)

OLY:
meatgrinder
Life in balance (end of 2019)

OMY:
RedefinedHappiness

FIREing later:
FIPurpose (date to decided)
ToughMother (date to be decided)
« Last Edit: September 09, 2019, 01:01:14 PM by Linea_Norway »

Padonak

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Re: 2020 FIRE Cohort
« Reply #949 on: August 02, 2019, 12:26:57 PM »
Finally found this thread, better late than never.

I am joining the cohort. The final date is not set in stone yet, but should be around March-April 2020. Will post more details later.