Author Topic: 2020 FIRE Cohort  (Read 427486 times)

Linea_Norway

  • Walrus Stache
  • *******
  • Posts: 7176
  • Location: Norway
Re: 2020 FIRE Cohort
« Reply #950 on: August 02, 2019, 12:27:36 PM »
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!

Welcome to the group that will FIRE next year!

Linea_Norway

  • Walrus Stache
  • *******
  • Posts: 7176
  • Location: Norway
Re: 2020 FIRE Cohort
« Reply #951 on: August 02, 2019, 12:29:34 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.

Also welcome. Next year is approaching fast.

FireLane

  • Pencil Stache
  • ****
  • Posts: 712
  • Location: NYC
Re: 2020 FIRE Cohort
« Reply #952 on: August 05, 2019, 09:03:47 AM »
You can put me down for July 2020 as my RE date. That may change if the market crashes, but it's good to plant my stake in the ground and have a target to aim for.

As I wrote in my journal last week, we're enrolling Little FL in a preschool program that starts in September and runs through June. Since I don't want to pay for child care out of my investments, it makes sense to work at least that long. When he turns 4 next fall, we can start him in free pre-K.

Linea_Norway

  • Walrus Stache
  • *******
  • Posts: 7176
  • Location: Norway
Re: 2020 FIRE Cohort
« Reply #953 on: August 05, 2019, 09:14:03 AM »
You can put me down for July 2020 as my RE date. That may change if the market crashes, but it's good to plant my stake in the ground and have a target to aim for.

As I wrote in my journal last week, we're enrolling Little FL in a preschool program that starts in September and runs through June. Since I don't want to pay for child care out of my investments, it makes sense to work at least that long. When he turns 4 next fall, we can start him in free pre-K.

Done.

Yes, our FIRE year is around the corner and planning a date is a good idea.

I need to give my notice at the end of October to make my date in first of Feb. That is coming pretty soon.

Linea_Norway

  • Walrus Stache
  • *******
  • Posts: 7176
  • Location: Norway
Re: 2020 FIRE Cohort
« Reply #954 on: August 13, 2019, 05:46:57 AM »
I also wrote about it on my journal, but it is also relevant here.
My DH has started to listen to FIRE podcasts (finally) and he is getting interested in investment strategies, which I am not interested in. One podcast was about a couple who had 13 mil $ in the stock market ans lost 75% of it overnight.
DH is thinking the following about our future investment:
- We will use up our stash in the next 20 years, until we can live off our traditional retirement funds, that was the plan all along.
- It is more important for us to not loose that money in a big stock market crash, than reaching a 4% profit per year.
- Therefore we should not keep 100% of our stash in stock, but rather 60/40 or 70/30 or some other number.
- When the stock market gets a really big crash, you want to have cash available to buy more at a low price.
- When the stock market gets a really big crash, you want to have cash available life off, so you don't need to sell at low price.
- When the stock market is really high, we could take out our profit, to make sure we use the high rate.

So we are currently thinking about keeping like 2 years of spending outside the stock market to make sure to survive a dip. Plus en extra x sum (not decided how much) to buy new stock.

When we sell our home and reserve 50% of that sum to buy another home at some later time (1-3 years), that money should be put on a savings account, not in the stock market.

I am back from work now after a 4 week summer vacation. Even those 2 days at work already confirm that working towards FIRE is the right choice for me. I am so much looking foreward to it...

2sk22

  • Pencil Stache
  • ****
  • Posts: 579
Re: 2020 FIRE Cohort
« Reply #955 on: August 13, 2019, 07:22:46 AM »
- Therefore we should not keep 100% of our stash in stock, but rather 60/40 or 70/30 or some other number.

Not all assets need to be diversified the same way. I categorize our savings into several "buckets" in my mind:
  • Post-tax savings: Split 55/45 stock/(bonds&cash)
  • Pre-tax (401K and IRAs) savings : Split 60/40 (stock/bonds)
  • Pensions & social security
  • Home

Compared to many, our stock exposure is a bit lower but its what helps us sleep comfortably :-)

2Birds1Stone

  • Walrus Stache
  • *******
  • Posts: 6208
  • Location: Earth
  • K Thnx Bye
Re: 2020 FIRE Cohort
« Reply #956 on: August 13, 2019, 07:24:21 AM »
Linda, I would advise you to make a plan and stick with it.

A reverse equity glide-path has been shown to reduce SORR and provide a more stable portfolio for an early retiree.

Both ERN (https://earlyretirementnow.com/) and Michael McClungs book "Living Off Your Money" (https://www.amazon.com/Living-Off-Your-Money-Retirement/dp/0997403403) do a great job at explaining the how and why of this approach.

Starting with a 60/40 portfolio and spending down the bond portion, while also having other safety nets in place is a prudent approach. It might not be mathematically perfect, but due to the lowered volatility during the beginning of your early retirement, it's easier to STICK TO THE PLAN.

2Birds1Stone

  • Walrus Stache
  • *******
  • Posts: 6208
  • Location: Earth
  • K Thnx Bye
Re: 2020 FIRE Cohort
« Reply #957 on: August 13, 2019, 07:31:07 AM »

Linea_Norway

  • Walrus Stache
  • *******
  • Posts: 7176
  • Location: Norway
Re: 2020 FIRE Cohort
« Reply #958 on: August 14, 2019, 12:10:10 AM »
Tickle me pink, his latest post is a must read for you.

https://earlyretirementnow.com/2019/07/31/rising-equity-glidepath-4-percent-safe-withdrawal-rate-60-year-retirement/#more-40913

I skimmed through it. He mentions that early retirees with a 60 year retirement horizon are fundamentally different from traditional retirees with a 30 year retirement horizon. Therefore they should invest in another way.
But on our personal case, we are much more like traditional retirees, in the sense that we have to bridge 20 years and our stash may end up in 0. So this rising equity path is probably not so relevant for us. Probably rather the normal thing with replacing more and more stocks with bonds.

Linea_Norway

  • Walrus Stache
  • *******
  • Posts: 7176
  • Location: Norway
Re: 2020 FIRE Cohort
« Reply #959 on: August 21, 2019, 03:01:00 AM »
Yesterday we decided to quit a month earlier, but with the final day still i January, maybe the first or the second. But I will probably take free from before Christmas. So I'll be the first to FIRE in 2020 officially. :-)))
« Last Edit: August 21, 2019, 06:04:21 AM by Linea_Norway »

2Birds1Stone

  • Walrus Stache
  • *******
  • Posts: 6208
  • Location: Earth
  • K Thnx Bye
Re: 2020 FIRE Cohort
« Reply #960 on: August 21, 2019, 03:42:16 AM »
So I'll be the first to FIRE in 2010 officially. :-)))

A very belated congratulations!

Linea_Norway

  • Walrus Stache
  • *******
  • Posts: 7176
  • Location: Norway
Re: 2020 FIRE Cohort
« Reply #961 on: August 21, 2019, 06:04:55 AM »
So I'll be the first to FIRE in 2010 officially. :-)))

A very belated congratulations!

Thanks. I meant of course 2020. Spelling is sometimes difficult.
« Last Edit: August 26, 2019, 04:41:10 AM by Linea_Norway »

rab-bit

  • Stubble
  • **
  • Posts: 218
  • Location: Western PA
Re: 2020 FIRE Cohort
« Reply #962 on: August 21, 2019, 07:30:41 AM »
Yesterday we decided to quit a month earlier, but with the final day still i January, maybe the first or the second. But I will probably take free from before Christmas. So I'll be the first to FIRE in 2020 officially. :-)))

Congratulations, @Linea_Norway!

Life in Balance

  • Bristles
  • ***
  • Posts: 348
Re: 2020 FIRE Cohort
« Reply #963 on: August 21, 2019, 07:53:13 AM »
Yesterday we decided to quit a month earlier, but with the final day still i January, maybe the first or the second. But I will probably take free from before Christmas. So I'll be the first to FIRE in 2020 officially. :-)))

So happy for you.  Congratulations!

tampaite

  • 5 O'Clock Shadow
  • *
  • Posts: 14
Re: 2020 FIRE Cohort
« Reply #964 on: August 21, 2019, 12:31:09 PM »

// 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

Just a suggestion. Are you able to post the data in below format? Often times, I have to dig up through old posts and rehash the #s to determine what does 89.0% means.

If you are not inclined that's fine. However, if you like to incorporate, you need to copy the below table and paste it in your reply and then update it before you post. See attachment for the HTML snippet.

<!-- FIRE goal = $1M , withdrawal rate = 4%, annual expense = $40k, annual expense target = 25x -->
MonthPercentageTotal AccumulatedAnnual Expense Target
July 2009   20%   200K   5x
Aug 2009   23%   230K   5x
Sep 2009   24%   240K   6x
« Last Edit: August 21, 2019, 01:07:39 PM by tampaite »

Linea_Norway

  • Walrus Stache
  • *******
  • Posts: 7176
  • Location: Norway
Re: 2020 FIRE Cohort
« Reply #965 on: August 26, 2019, 12:29:26 AM »
@itchyfeet Please feel free to join this cohort as well.

2sk22

  • Pencil Stache
  • ****
  • Posts: 579
Re: 2020 FIRE Cohort
« Reply #966 on: August 26, 2019, 02:45:32 AM »
A quick update from me - I still think I'll be able to avoid the OMY syndrome and stick to my goal of retiring by 2020.

Linea_Norway

  • Walrus Stache
  • *******
  • Posts: 7176
  • Location: Norway
Re: 2020 FIRE Cohort
« Reply #967 on: August 26, 2019, 04:44:17 AM »
A quick update from me - I still think I'll be able to avoid the OMY syndrome and stick to my goal of retiring by 2020.

Very good.

OMY isn't so bad, as one year really isn't that long. But we should try to avoid to OMY several times. Doing a OMY should normally provide enough additional cushioning if you were close to FIRE the year before.

Pennycounter

  • Bristles
  • ***
  • Posts: 290
Re: 2020 FIRE Cohort
« Reply #968 on: August 27, 2019, 10:05:20 AM »
Yesterday we decided to quit a month earlier, but with the final day still i January, maybe the first or the second. But I will probably take free from before Christmas. So I'll be the first to FIRE in 2020 officially. :-)))

Congrats!!! It only makes sense that you lead us off since you've been the most active in this thread for a while.  :)

Unique User

  • Pencil Stache
  • ****
  • Posts: 686
  • Location: NC
Re: 2020 FIRE Cohort
« Reply #969 on: September 06, 2019, 02:27:48 PM »
Lots of changes here.  I'm switching to an hourly role as a consultant (from a salaried overhead role) starting next month and will be on a project through May 2020.  Assuming a month to wrap up the project with part time hours in June puts me officially out of work on July 1st at the grand old age of 50.  Little late to the party, but better than never getting there!  Pros of the change - I'm done with direct reports, my income increases about 30% for my last stretch and I learn valuable consulting skills that will enable me to easily earn a bit of income while our teen is still in college for the next couple years.  Cons of the change - biweekly travel at a minimum and having to be at the client for 4 weeks without going home during the last month of the project.  Funny, I've had several calls at my company while we were figuring out the transition where I was asked if I was sure I understood that after this project wraps up I'll have no income unless another one in the same vein sells. 

Life in Balance

  • Bristles
  • ***
  • Posts: 348
Re: 2020 FIRE Cohort
« Reply #970 on: September 06, 2019, 05:50:17 PM »
I am rather unexpectedly moving my date up to the end of this year for health reasons.  Reading about the effects of stress and burnout on the posters' health in various threads convinced me I needed to be proactive about recovering my health, even if I'm not quite at my stash goals.  Call it a leap of faith.

Linea_Norway

  • Walrus Stache
  • *******
  • Posts: 7176
  • Location: Norway
Re: 2020 FIRE Cohort
« Reply #971 on: September 06, 2019, 11:59:54 PM »
Good for you, @Life in Balance

Last night I couldn't sleep as I was worrying. I feel terribly guilty towards my coworkers that I will give notice at the end of the month. They will be in some trouble without me. I see that many of them are having a really hard time and are very stressed. Of course this is not my personal responsibility, but the company's that squeezes people until there is not a drop of energy left in them.

As mentioned earlier, my notice period is 3 months, as defined in my contract. But any replacement my boss could hire would also have that. So there is likely to be a gap. Still not my personal problem, but I feel bad for it.

Trifele

  • Magnum Stache
  • ******
  • Posts: 3026
  • Age: 53
  • Location: Outside
Re: 2020 FIRE Cohort
« Reply #972 on: September 07, 2019, 02:40:16 AM »
I am rather unexpectedly moving my date up to the end of this year for health reasons.  Reading about the effects of stress and burnout on the posters' health in various threads convinced me I needed to be proactive about recovering my health, even if I'm not quite at my stash goals.  Call it a leap of faith.

Feel free to come on over to the 2019 FIRE cohort thread @Life in Balance.  We'll catch you and celebrate with you!

Life in Balance

  • Bristles
  • ***
  • Posts: 348
Re: 2020 FIRE Cohort
« Reply #973 on: September 07, 2019, 06:23:55 AM »
Good for you, @Life in Balance

Last night I couldn't sleep as I was worrying. I feel terribly guilty towards my coworkers that I will give notice at the end of the month. They will be in some trouble without me. I see that many of them are having a really hard time and are very stressed. Of course this is not my personal responsibility, but the company's that squeezes people until there is not a drop of energy left in them.

As mentioned earlier, my notice period is 3 months, as defined in my contract. But any replacement my boss could hire would also have that. So there is likely to be a gap. Still not my personal problem, but I feel bad for it.

Thanks, I'm hoping it goes well.  Like you, I have a long notice period.  I talked to my supervisor yesterday and then started telling colleagues.  There were tears, and I feel badly about causing them stress when everyone is already stretched so thin.  Everyone also said though that I needed to do what's best for me and it helped that everyone was so understanding.

Life in Balance

  • Bristles
  • ***
  • Posts: 348
Re: 2020 FIRE Cohort
« Reply #974 on: September 07, 2019, 06:26:45 AM »
I am rather unexpectedly moving my date up to the end of this year for health reasons.  Reading about the effects of stress and burnout on the posters' health in various threads convinced me I needed to be proactive about recovering my health, even if I'm not quite at my stash goals.  Call it a leap of faith.

Feel free to come on over to the 2019 FIRE cohort thread @Life in Balance.  We'll catch you and celebrate with you!

Thanks, @Trifele.  I have to say that I feel a bit like a 2019 faker as I will ultimately be looking for PT work since I'm not at my number.  But a few years off to regain health and perspective (and to see how the markets perform) are desperately needed, so 2019 it is.  :) 

Trifele

  • Magnum Stache
  • ******
  • Posts: 3026
  • Age: 53
  • Location: Outside
Re: 2020 FIRE Cohort
« Reply #975 on: September 07, 2019, 08:52:02 AM »
I am rather unexpectedly moving my date up to the end of this year for health reasons.  Reading about the effects of stress and burnout on the posters' health in various threads convinced me I needed to be proactive about recovering my health, even if I'm not quite at my stash goals.  Call it a leap of faith.

Feel free to come on over to the 2019 FIRE cohort thread @Life in Balance.  We'll catch you and celebrate with you!

Thanks, @Trifele.  I have to say that I feel a bit like a 2019 faker as I will ultimately be looking for PT work since I'm not at my number.  But a few years off to regain health and perspective (and to see how the markets perform) are desperately needed, so 2019 it is.  :)

You're not a faker!  I've lost track of everything people are up to in our cohort . . . there are side gigs and part time stuff all over the place among the 'FIREd' folks.  I think it's all about celebrating a major transition. 

ysette9

  • Walrus Stache
  • *******
  • Posts: 7228
  • Location: Bay Area, CA
    • The Best Is Yet To Come
Re: 2020 FIRE Cohort
« Reply #976 on: September 07, 2019, 12:42:40 PM »
So, holy shit. I updated our spreadsheet yesterday and we are 97% of our goal. That is so close it feels unreal.

Linea_Norway

  • Walrus Stache
  • *******
  • Posts: 7176
  • Location: Norway
Re: 2020 FIRE Cohort
« Reply #977 on: September 07, 2019, 12:48:28 PM »
So, holy shit. I updated our spreadsheet yesterday and we are 97% of our goal. That is so close it feels unreal.

Congrats.

And we are working our asses of to get the highest possible price for our home. In best case we end up with 12% above our goal. But in worse case we don't reach our goal at all. Exciting times at least...

Linea_Norway

  • Walrus Stache
  • *******
  • Posts: 7176
  • Location: Norway
Re: 2020 FIRE Cohort
« Reply #978 on: September 09, 2019, 12:58:31 AM »
Today I finally received notice about my salary increase, that will count from May. We always get to hear the total yearly new salary. I would like the %, to find out how much they appreciate me. So I first need to find out last years' salary and calculate the % of the increase. This year it turned out to be 3,5%. That is the highest I have received in the 5 years that I work here. Maybe it helped that during the last performance meeting I mentioned that I was disappointed with my salary increase last year. Apparently there is always very little to give in general.

Of course I am still cutting 20% off my own salary by working only 80%. But I still like the 80% to pay as much as possible.
I should probably feel even more guilty towards my employer for pulling the plug. On the other hand, it is just a game, isn't it. If I quit, I open up a position for another motivated person.

2sk22

  • Pencil Stache
  • ****
  • Posts: 579
Re: 2020 FIRE Cohort
« Reply #979 on: September 09, 2019, 05:34:02 AM »
Today I finally received notice about my salary increase, that will count from May. We always get to hear the total yearly new salary. I would like the %, to find out how much they appreciate me. So I first need to find out last years' salary and calculate the % of the increase. This year it turned out to be 3,5%. That is the highest I have received in the 5 years that I work here. Maybe it helped that during the last performance meeting I mentioned that I was disappointed with my salary increase last year. Apparently there is always very little to give in general.

Of course I am still cutting 20% off my own salary by working only 80%. But I still like the 80% to pay as much as possible.
I should probably feel even more guilty towards my employer for pulling the plug. On the other hand, it is just a game, isn't it. If I quit, I open up a position for another motivated person.

I recall an awkward conversation many years ago - my boss gave me a hefty raise and I had to tell him that I was quitting :-)

CrazyIT

  • 5 O'Clock Shadow
  • *
  • Posts: 46
  • Location: MN
Re: 2020 FIRE Cohort
« Reply #980 on: September 09, 2019, 09:01:14 AM »
Hi,

   I excused myself form the 2021 FIRE Cohort and am joining this one.  Had a talk with myself and decided to stop the OMY thing so hold me accountable.

FIRE Date:  March 6th 2020

179 days but only 134 working day (minus vacation and Holidays)
25 Mondays

Not that I am keeping track or anything.  lol

ysette9

  • Walrus Stache
  • *******
  • Posts: 7228
  • Location: Bay Area, CA
    • The Best Is Yet To Come
Re: 2020 FIRE Cohort
« Reply #981 on: September 09, 2019, 09:52:26 AM »
Hi,

   I excused myself form the 2021 FIRE Cohort and am joining this one.  Had a talk with myself and decided to stop the OMY thing so hold me accountable.

FIRE Date:  March 6th 2020

179 days but only 134 working day (minus vacation and Holidays)
25 Mondays

Not that I am keeping track or anything.  lol
Welcome!

Linea_Norway

  • Walrus Stache
  • *******
  • Posts: 7176
  • Location: Norway
Re: 2020 FIRE Cohort
« Reply #982 on: September 09, 2019, 01:06:32 PM »
Hi,

   I excused myself form the 2021 FIRE Cohort and am joining this one.  Had a talk with myself and decided to stop the OMY thing so hold me accountable.

FIRE Date:  March 6th 2020

179 days but only 134 working day (minus vacation and Holidays)
25 Mondays

Not that I am keeping track or anything.  lol
Welcome!

Welcome. Inspiring to count remaining Mondays. My DH just counted that we both have 14 Mondays left, including one vacation day.
« Last Edit: September 09, 2019, 01:11:35 PM by Linea_Norway »

Linea_Norway

  • Walrus Stache
  • *******
  • Posts: 7176
  • Location: Norway
Re: 2020 FIRE Cohort
« Reply #983 on: September 10, 2019, 02:40:16 AM »
I have been called in for the yearly "How can we motivate you" talk with my boss, on Thursday. I see how pointless that is now, since I am going to give my notice in 3 weeks. I need to give it before the end of September to be able to quit per 1 rst of Jan.
So I think I should rather use the occasion to give notice instead.

Normally one doesn't give notice earlier than necessary, but it will include my week of vacation from next week. The longer I give notice, the better they can prepare for it. I guess for me, it doesn't really make a difference during the time left. The advantage for me is that I can be more honest from now one. I can tell my coworkers that I'm selling my home, which explains why I am organizing so much (borrowing the hanger, arriving later at work som days, etc).

I did receive an email about my yearly pay increase yesterday, which will be paid back from May, so giving notice shouldn't negatively influence that. I will receive the increase around the 20th of September.


Trifele

  • Magnum Stache
  • ******
  • Posts: 3026
  • Age: 53
  • Location: Outside
Re: 2020 FIRE Cohort
« Reply #984 on: September 10, 2019, 03:56:22 AM »
I have been called in for the yearly "How can we motivate you" talk with my boss, on Thursday. I see how pointless that is now, since I am going to give my notice in 3 weeks. I need to give it before the end of September to be able to quit per 1 rst of Jan.
So I think I should rather use the occasion to give notice instead.
 

Good luck Linea!   To an outside observer this is pretty funny -- sitting down with the boss for your annual performance talk, and then you give notice instead.  Hope it goes smoothly and isn't stressful.   It sounds like you work at a decent place with pretty good people.     

Linea_Norway

  • Walrus Stache
  • *******
  • Posts: 7176
  • Location: Norway
Re: 2020 FIRE Cohort
« Reply #985 on: September 10, 2019, 04:33:14 AM »
I have been called in for the yearly "How can we motivate you" talk with my boss, on Thursday. I see how pointless that is now, since I am going to give my notice in 3 weeks. I need to give it before the end of September to be able to quit per 1 rst of Jan.
So I think I should rather use the occasion to give notice instead.
 

Good luck Linea!   To an outside observer this is pretty funny -- sitting down with the boss for your annual performance talk, and then you give notice instead.  Hope it goes smoothly and isn't stressful.   It sounds like you work at a decent place with pretty good people.     

Yes, I have a decent manager. This is not the performance review, that is in the spring. But it is the halfway the year talk, about other things. Literally questions like: What motivates you to work? How can this improve? Do you feel you can use your skills and knowledge in this job? etc.

rab-bit

  • Stubble
  • **
  • Posts: 218
  • Location: Western PA
Re: 2020 FIRE Cohort
« Reply #986 on: September 10, 2019, 06:03:09 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.

Rumors are rampant at my company that they will soon offer an incentive program for employees to quit. Since I have not been here that long (less than 5 years), it would not be extremely lucrative for me, but since I was planning on quitting in early 2020 anyway, I would certainly jump at the chance to have a few months of paid vacation. If they do offer something, I am guessing that it will be before the end of this month...

Linea_Norway

  • Walrus Stache
  • *******
  • Posts: 7176
  • Location: Norway
Re: 2020 FIRE Cohort
« Reply #987 on: September 10, 2019, 11:07:46 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.

Rumors are rampant at my company that they will soon offer an incentive program for employees to quit. Since I have not been here that long (less than 5 years), it would not be extremely lucrative for me, but since I was planning on quitting in early 2020 anyway, I would certainly jump at the chance to have a few months of paid vacation. If they do offer something, I am guessing that it will be before the end of this month...

In my company, a voluntary quit package it is age depending. Those under 30 get 3 months severance. Those over 60 1,5 year. And other ages somewhere in between. Unfortunately my part department is only hiring, so no goodbye packages are available for me.

Linea_Norway

  • Walrus Stache
  • *******
  • Posts: 7176
  • Location: Norway
Re: 2020 FIRE Cohort
« Reply #988 on: September 12, 2019, 05:36:04 AM »
I just told my manager about our "sabbatical" from the first of Jan 2020. She was very positive on my behalf and said that one has to prioritize private life. So no mental harm done, even though my employer now has a challenge. I'm glad it was received like this.

We still has the rest of our official talk, but very reduced. I don't need to do all the goals that our department has to do. But I got one prioritized project (that I started) that I need to work on and evaluate before the end of the year to a group of interested people. So I will concentrate on that, beside my normal tasks.

After lunch our department manager also wanted to have a chat with me (she didn't mention anything during the lunch break, even though I was sitting beside her). She is quite desperate on what to do when I leave, even though she understands that I want to do it personally. I was again asked if I knew for sure that I wanted to come back in the same job. I said I couldn't promise that and was a bit vague and talked about projects-wise work. She said I was welcome back anyway, even if they would say know to a formal sabbatical request.
I promised to get in touch with a friend of mine who I think could be a good replacement for me, either as a consultant or an employee.

Both of them suggested that we could live in our cabin during that year... That is a cabin without running water and I find it s bit challenging to live their for a longer period, especially winter time.

ysette9

  • Walrus Stache
  • *******
  • Posts: 7228
  • Location: Bay Area, CA
    • The Best Is Yet To Come
Re: 2020 FIRE Cohort
« Reply #989 on: September 12, 2019, 07:12:00 AM »
Awesome that you had The Talk! Presenting it as a sabbatical is a great middle ground in my opinion. Who knows? It is always possible you will actually want to return to work. ;-)

How does it feel to have that out in the open now?

Linea_Norway

  • Walrus Stache
  • *******
  • Posts: 7176
  • Location: Norway
Re: 2020 FIRE Cohort
« Reply #990 on: September 12, 2019, 07:47:16 AM »
Awesome that you had The Talk! Presenting it as a sabbatical is a great middle ground in my opinion. Who knows? It is always possible you will actually want to return to work. ;-)

How does it feel to have that out in the open now?

I feel very well now, because I can from now on talk openly about selling my house.
Yesterday (when I was still in the closet), I was talking Norwegian to a French coworker who is learning Norwegian, but understands it a bit poorly.
Me: I have been driving the hanger, cleaning out the trees I removed from the garden and a lot of stuff from our home.
She: Why are you cleaning out your place?
Me (Feeling uncomfortable): We removed some trees that were blocking out the view from our home. (which it partly true).
She (didn't understand what I said and just made a guess): Are you going to sell your home? (A pretty good guess).
Me (even more uncomfortable): I just said we that removed some trees that were blocking our view.

Next time I will be able to answer more truthfully.

I am not mentioning the "sabbatical" to my coworkers before my manager makes it public, or let's me do it.

In the past few years, I have mentioned the concept of early retirement to some of my coworkers. If they ask me if this is it, I am still gonna say that we are going to take a year off first. That has DH requested from me, because Norway is a small world and he wants that to be his own story. But these few coworkers might understand how it really works.

I also feel a bit giddy today.
« Last Edit: September 12, 2019, 08:04:47 AM by Linea_Norway »

Linea_Norway

  • Walrus Stache
  • *******
  • Posts: 7176
  • Location: Norway
Re: 2020 FIRE Cohort
« Reply #991 on: September 16, 2019, 06:36:30 AM »
My company did not accept my sabbatical, as I cannot promise I want to come back to the same position. They want to be able to hire someone else instead. So I gave my notice today. I was told that I can come back if I want to, there are always options.

The only reason for my sabbatical was that if I would get disabled during the next year, I could afterwards claim disability payment from the state as I can't do the job that I then have again. And the option that I don't want to think too much about: If we cannot sell the house this autumn and wait until spring and the house market crashes with 50%. Then we will have to go back work work... At least, we do have about 6,5 years spending in investments, but the rest has to come from our home sales. For the moment this is not my biggest worry.

Linea_Norway

  • Walrus Stache
  • *******
  • Posts: 7176
  • Location: Norway
Re: 2020 FIRE Cohort
« Reply #992 on: September 18, 2019, 07:16:29 AM »
As I'm very busy at work at the moment, so I decided to resort the list on date and add the day to the date as far as I know it. But I didn't check many pages back. Please comment if you want me to make a change. I'm going on a trip for a week and don't know when I will implement it.

01/01/2020     Linea_Norway (@46)   
01/2020     Farmgirl   
01/2020     Now-non   
03/06/2020     CrazyIT   
03/2020     FInding_peace (@38)   
03/2020     rab-bit (@58)   
03/2020     TheContinaltalOp   
03-04/2020     Maenad   
03-04/2020     Padonak   
03-04+2/2020     Beeboy (@46)      
04/2020     DreamFIRE   
04/2020     Exit2019   
04/2020     Itchyfeet   
04/2020     Pennycounter   
04-05/2020     aspiringnomad (@37)   
04-12/2020     robtown   
05/2020     Body Surfer   
05/2020     Lady Stash (@45)   
05/01/2020     Much fishing to do   
05/2020     Rcc      
06/2020     ixtap (date uncertain)   
07/2020     2sk22   
07/01/2020     FireLane (@38)   
07/01/2020     Unique User (@50)   
07-12/2020     MMM123   
08/2020     Bateaux   
10/2020     Rubyvroom   
11/01/2020     Alienbogey   
12/202?     desk_jockey   
12/31/2020     BFGirl   
12/2020     david_shin   
12/2020     MoneyTree (@36)   
12/2020     Nora (@42)   
12/2020     Sand101   
12/2020     TheFIExplorer   
12/2020     ysette9 (@38)   
??/202?     Gumption   
??/2020      EscapeVelocity2020   
??/2020     apurplelife   
??/2020     BlueMR2      
??/2020     catccc   
??/2020     DadzillaGorilla (FI@35, RE@40)   
??/2020     FIREstache (@55)   
??/2020     Freedomin5 (@38)   
??/2020     LadyMaWhiskers   
??/2020     letsdoit   
??/2020     onlykelsey      
??/2020     tooqk4u22      
   
OLY:   
meatgrinder   
Life in balance (end of 2019)
2Birds1Stone (autumn 2019)
Firebrand (second week of Drcember 2019)
   
OMY:   
RedefinedHappiness   
FIREby2021 (Q1 2021)   
   
FIREing later:   
FIPurpose (date to decided)   
ToughMother (date to be decided)   
« Last Edit: October 08, 2019, 01:51:26 PM by Linea_Norway »

AO1FireTo

  • 5 O'Clock Shadow
  • *
  • Posts: 95
  • Location: Toronto
Re: 2020 FIRE Cohort
« Reply #993 on: September 18, 2019, 07:59:16 PM »
Wow really impressed on how young some of you are.  Any of you in Canada?  I could pull the trigger too if I could convince the wife to downsize and move to a LCOL area.  I'll keep working on her :).

Must be so exciting to be so close.

Freedomin5

  • Magnum Stache
  • ******
  • Posts: 3449
  • Location: China
Re: 2020 FIRE Cohort
« Reply #994 on: September 21, 2019, 03:54:54 AM »
We are Canadian and will be FIRE-ing in Canada (though we currently work abroad). Totally planning to FIRE somewhere that is Not Toronto. Maybe FIRE-ing up in cottage country.

AO1FireTo

  • 5 O'Clock Shadow
  • *
  • Posts: 95
  • Location: Toronto
Re: 2020 FIRE Cohort
« Reply #995 on: September 22, 2019, 01:22:26 PM »
We are Canadian and will be FIRE-ing in Canada (though we currently work abroad). Totally planning to FIRE somewhere that is Not Toronto. Maybe FIRE-ing up in cottage country.

Sweet, yes staying in Toronto is delaying my FIRE for sure.  Anyone had any success convincing a spouse that moving from Toronto (or comparable HCOL area), to a LCOL area is a smart move.

What country are you in now?

Lews Therin

  • Magnum Stache
  • ******
  • Posts: 3221
  • Age: 30
  • Location: Gatineau
  • Used to be Canadian Ben
Re: 2020 FIRE Cohort
« Reply #996 on: September 22, 2019, 06:30:25 PM »
Wow really impressed on how young some of you are.  Any of you in Canada?  I could pull the trigger too if I could convince the wife to downsize and move to a LCOL area.  I'll keep working on her :).

Must be so exciting to be so close.

I'm in ottawa (now gatineau) my house/yard, distance from downtown ottawa would cost 2M+ if I was in a comparable toronto location.

Linea_Norway

  • Walrus Stache
  • *******
  • Posts: 7176
  • Location: Norway
Re: 2020 FIRE Cohort
« Reply #997 on: September 23, 2019, 12:36:18 AM »
We are Canadian and will be FIRE-ing in Canada (though we currently work abroad). Totally planning to FIRE somewhere that is Not Toronto. Maybe FIRE-ing up in cottage country.

Very similar to us. Fireing in a hcol country and not planning to live in the capital because of the price. We will also move into the country.

Mmm_Donuts

  • Bristles
  • ***
  • Posts: 370
Re: 2020 FIRE Cohort
« Reply #998 on: September 25, 2019, 04:15:50 AM »
We are Canadian and will be FIRE-ing in Canada (though we currently work abroad). Totally planning to FIRE somewhere that is Not Toronto. Maybe FIRE-ing up in cottage country.

Sweet, yes staying in Toronto is delaying my FIRE for sure.  Anyone had any success convincing a spouse that moving from Toronto (or comparable HCOL area), to a LCOL area is a smart move.


I'm in that situation (in Toronto) with spouse unwilling to leave (yet). My solution is to FIRE before him, since he's the one who wants to stay, and I'll be prepping the house for our move.

He is accepting of the fact that we have to move (financially downsize) and that I really want to move (not liking Toronto life that much anymore), but I am ready to go now, and he wants to wait as long as possible. The compromise is he works longer, I do the legwork for the move. Our house at the peak a couple years ago was worth ~$2M. It was torturous to stay here and keep working with that kind of money tied up in one asset. I have been talking about selling and moving ever since.

AO1FireTo

  • 5 O'Clock Shadow
  • *
  • Posts: 95
  • Location: Toronto
Re: 2020 FIRE Cohort
« Reply #999 on: September 25, 2019, 06:57:37 AM »
We are Canadian and will be FIRE-ing in Canada (though we currently work abroad). Totally planning to FIRE somewhere that is Not Toronto. Maybe FIRE-ing up in cottage country.

Sweet, yes staying in Toronto is delaying my FIRE for sure.  Anyone had any success convincing a spouse that moving from Toronto (or comparable HCOL area), to a LCOL area is a smart move.


I'm in that situation (in Toronto) with spouse unwilling to leave (yet). My solution is to FIRE before him, since he's the one who wants to stay, and I'll be prepping the house for our move.

He is accepting of the fact that we have to move (financially downsize) and that I really want to move (not liking Toronto life that much anymore), but I am ready to go now, and he wants to wait as long as possible. The compromise is he works longer, I do the legwork for the move. Our house at the peak a couple years ago was worth ~$2M. It was torturous to stay here and keep working with that kind of money tied up in one asset. I have been talking about selling and moving ever since.

Yes very similar to my situation.  It's hard seeing all that money tied up in an asset that doesn't produce income.  I actually don't mind Toronto, but I'd be fine in a smaller city.  I suspect I'll FIRE to another career or side hustle in a couple of years while my wife continues to work.  I guess that's not so bad:).  Congrats to those of you that have fired in 2020.