Author Topic: 2021 FIRE Cohort  (Read 17784 times)

nazar

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Re: 2021 FIRE Cohort
« Reply #50 on: March 19, 2016, 06:36:27 PM »
Quote

So Nazar, what's on the bucket list then?

This year Machu Picchu for sure.  Still deciding on a second adventure closer to home.  Would love to do an extended whitewater rafting trip.



dreams_and_discoveries

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Re: 2021 FIRE Cohort
« Reply #51 on: March 20, 2016, 02:44:25 AM »
Ah, I did Machu Picchu and the Inca Trail just over a year ago - it was awesome, such a great experience. Definitely recommend you do it.

Will you be hiking the trail? If so, get the training started - the trail is a lot of Peruvian flat, a lot of going up to come back down for miles and miles.

nazar

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Re: 2021 FIRE Cohort
« Reply #52 on: March 20, 2016, 08:40:25 AM »
Ah, I did Machu Picchu and the Inca Trail just over a year ago - it was awesome, such a great experience. Definitely recommend you do it.

Will you be hiking the trail? If so, get the training started - the trail is a lot of Peruvian flat, a lot of going up to come back down for miles and miles.

While I'd like to hike the trail, I'm a sea level resident that needs time adjusting to altitudes.  As an experienced backpacker, I know the adjustment time I need plus hiking time is more than I can take off at this time.  It may be something to do for a revisit in the future.



dreams_and_discoveries

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Re: 2021 FIRE Cohort
« Reply #53 on: March 20, 2016, 11:25:37 AM »
While I'd like to hike the trail, I'm a sea level resident that needs time adjusting to altitudes.  As an experienced backpacker, I know the adjustment time I need plus hiking time is more than I can take off at this time.  It may be something to do for a revisit in the future.

I'm also a sea level resident, and I didn't find the altitude on the Inca Trail too bad - Dead Woman's Pass was hard, but after that it got better. However doing Kilimanjaro, well that's another story. I felt really ill then, especially on the final night's hike to the summit.

I did appreciate the altitude in La Paz - we were all very merry after one cocktail!

Wadiman

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Re: 2021 FIRE Cohort
« Reply #54 on: March 23, 2016, 04:16:37 PM »
D&D -

I hear you re Kili - while I haven't done it i did get up to 5600m+ in Nepal - the scenery was amazing but I must say I felt like I was a member of the walking dead.  The thing I wasn't expecting was the energy-sapping nature of altitude - the breathing seemed ok and not too laboured but I felt like every step was a real mental challenge.  Having said that though, I am still keen to do Kili one day!

dreams_and_discoveries

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Re: 2021 FIRE Cohort
« Reply #55 on: March 24, 2016, 01:30:43 AM »
Wadiman - understand completely - what route did you do in Nepal? I do fancy trekking the Annapurna circuit when I FIRE. It looks much harder than Kili, as you stay at altitude for longer. The scenery looks stunning and worth the effort alone.

Wadiman

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Re: 2021 FIRE Cohort
« Reply #56 on: March 24, 2016, 02:08:42 AM »
Did the Everest Base Camp route for most of the way from Lukla (start at around 2800m) then instead of base camp went up to Kala Pattar.  I think I did it in about 8 days from memory.  Probably should have had two extra altitude acclimatization days at Namche Bazzar. The second half of the trek was the most invigorating scenically.

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Re: 2021 FIRE Cohort
« Reply #57 on: March 24, 2016, 04:17:08 PM »
Update on goals for 2016
In blue below

Quote
-Living more in the moment, I too have a problem with living in the future.
Still working on this one, probably the hardest in my list for me

-Taking on any and every extra income opportunity to reach the goal sooner
Just landed a new job with a 50% increase in income, plus the wife is getting on board and getting a part time gig. So this will either get us to FIRE way sooner, or give us more income post FIRE : )

-Getting my private pilot license, for post fire occupation.
Still working on this, still have plenty of time and I really enjoy doing it.

-Closing on our current real estate deal.
Got'er Done! House is ours for a steal of a deal, instant equity on the place and with our current budget it will be paid off in full by 2021.

-Raising capital to purchase more assets.
This is a constant battle

I love the power of writing goals down and planning for success! Its funny how opportunities seem to pop up when your are planning and looking for them.
FIRE.... Remember, it's closer than it feels.



fidreamer

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Re: 2021 FIRE Cohort
« Reply #58 on: March 25, 2016, 11:01:29 AM »
Hello, everyone.  I am grateful to you all because I think about FI a lot, and yet I often feel like I am on a different planet than most people I know.  I am 45 and I plan on going down to halftime work in a little over a year with 2021 as a goal for total retirement. I find it close enough to be distracting, yet there are few I can discuss it with.  I am married and have two children.  My daughter is a special needs kid and I am not completely sure how that will impact my financial future, but I am looking forward to having more time and energy to spend with her.   My mortgage is paid and my eye is on the prize!  But it's all a secret because my friends are all in debt...; )

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Re: 2021 FIRE Cohort
« Reply #59 on: May 24, 2016, 04:22:34 PM »
Hello, everyone.  I am grateful to you all because I think about FI a lot, and yet I often feel like I am on a different planet than most people I know.  I am 45 and I plan on going down to halftime work in a little over a year with 2021 as a goal for total retirement. I find it close enough to be distracting, yet there are few I can discuss it with.  I am married and have two children.  My daughter is a special needs kid and I am not completely sure how that will impact my financial future, but I am looking forward to having more time and energy to spend with her.   My mortgage is paid and my eye is on the prize!  But it's all a secret because my friends are all in debt...; )

Welcome a board the 2021 train! And congrats on getting the mortgage paid off!!

Lol I know what you mean, tough to talk about these things with other people... They just don't get it... But that's ok, we can still be friends : )
FIRE.... Remember, it's closer than it feels.



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Re: 2021 FIRE Cohort
« Reply #60 on: May 24, 2016, 04:28:48 PM »
Got an update for everyone, my wife is getting fired up about getting our house paid off. She landed 3 part time jobs in the last couple weeks.

If she maintains the same level of income or grows it, we will shave off 2yrs of house payments and be completely debt free including the house by Aug 2019!!!

Stay FIRED UP!!!
FIRE.... Remember, it's closer than it feels.



Accountant007

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Re: 2021 FIRE Cohort
« Reply #61 on: June 30, 2016, 07:29:11 AM »
Count me in.  Still eyeing 2020 as a possible date but 2021 is more in my comfort zone.  Catch myself all the time putting things off because "I will do that after I retire".  Need to do a better job with that.  Also, looking at the spreadsheets waaaay too much.  Anyway, my plan is to tell the other partners at the end of 2018.  I know, that is early, but there is an unspoken rule where I work that partners give a couple of years notice so that there is time to transition and bring someone else along to take over.

Beyond that I hope to optimize spending levels.  I still have a ways to go on that.  If everything goes as planned, I will probably work part-time at the same company for a couple of years, but I will have total control over my schedule and hours.

bownyboy

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Re: 2021 FIRE Cohort
« Reply #62 on: July 11, 2016, 01:18:32 AM »
Hello everyone, adding myself to this challenge. It's great to read about other people's journeys for a bit of motivation, espicially when you've done all the reading and set up,  and it's now just a waiting game!

Me and my fiancée are at exactly 50% of our £600k target and with continuing contributions and modest return of 7% I've calculated December 2021 as our time to step off the treadmill and onto greater things.

I've created spreadsheets for each year showing projections for each of our accounts, which I then update with actuals on the 1st of each month. Everything's automated, so it's a case of trying not to check the numbers too frequently (fiancée thinks I'm weird!).

In the meantime I'm making a conscious effort to celebrate mini milestones such as getting to 50% target, £1m networth, 1000 days left etc).

How does everyone else keep motivated?


rantk81

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Re: 2021 FIRE Cohort
« Reply #63 on: August 09, 2016, 02:21:51 PM »
If I'm still alive, I'll turn 40 in 2021.  My goal is now to retire before my 40th birthday.  2021 is my target!  5 more years!  (or less if I can swing it!!!)

dreams_and_discoveries

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Re: 2021 FIRE Cohort
« Reply #64 on: August 10, 2016, 02:59:50 AM »
If I'm still alive, I'll turn 40 in 2021.  My goal is now to retire before my 40th birthday.  2021 is my target!  5 more years!  (or less if I can swing it!!!)

Snap :)


dougules

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Re: 2021 FIRE Cohort
« Reply #65 on: September 15, 2016, 03:46:36 PM »
I'm going to join up here.  Our FIRE target is "data dependent," and 2021 is looking reasonable at this point. 

MarcherLady

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Re: 2021 FIRE Cohort
« Reply #66 on: September 16, 2016, 04:26:22 AM »
Welcome!  I'm afraid we aren't a very active cohort though!  Hopefully we'll be more motivated to post as the time gets closer. 

I'm very much in the 'just keep on keeping on' space. (And we're thinking that 2020 is now the year for us, but since this thread was my 'baby' I check in here occasionally)
One step at a time

Target FIRE: 10/10/2020, but I hang out with the 2021 Cohort

dougules

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Re: 2021 FIRE Cohort
« Reply #67 on: September 16, 2016, 08:32:02 AM »
Welcome!  I'm afraid we aren't a very active cohort though!  Hopefully we'll be more motivated to post as the time gets closer. 

I'm very much in the 'just keep on keeping on' space. (And we're thinking that 2020 is now the year for us, but since this thread was my 'baby' I check in here occasionally)

Yeah, I'm not sure where to post since it's still a pretty big range for us.  Between the randomness of the market and us slowly whittling down our spending it could really be anywhere from 2019 through 2026.  We're still using our old countdown date of 31 Jan 2025 which is when DH will hit 20 years of govt service.  I doubt it will take us that long, though.  We're almost to the point where a truly frugal couple with less conservative numbers could FIRE. 

dreams_and_discoveries

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Re: 2021 FIRE Cohort
« Reply #68 on: September 16, 2016, 03:01:45 PM »
I'm going to join up here.  Our FIRE target is "data dependent," and 2021 is looking reasonable at this point.

Welcome, completely agree with these sort of timelines, loads of us are in the 4-6 years bracket due to so many dependencies. Personally I found working through the numbers helped me articulate all the dependencies and possibilities, which made me realise how achievable my plans are.

Now I'd love 2020, but 2021 may be called for ....

Chaplin

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Re: 2021 FIRE Cohort
« Reply #69 on: September 16, 2016, 06:14:30 PM »
Setting a real date and doing the math around that really helps. A year is a bit too vague.

We set March 23, 2021.

dougules

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Re: 2021 FIRE Cohort
« Reply #70 on: September 19, 2016, 04:00:15 PM »
Setting a real date and doing the math around that really helps. A year is a bit too vague.

We set March 23, 2021.

Yeah.  It's nice to have a date to count down to that you've been using for a while.  We're actually counting Mondays (not weeks days or months) until our 1 Feb 2025 date.  I have just dragged myself through Monday 437.  It's really nice to think that today may actually be Monday 270 instead. 
« Last Edit: September 19, 2016, 04:01:58 PM by dougules »

sisto

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Re: 2021 FIRE Cohort
« Reply #71 on: September 19, 2016, 07:35:37 PM »
I have a date, but I keep basically OMYing myself. I'm eligible to retire from my company June 7, 2021 and financially I'm aligned. The calculations seem like I will be FI by then too. My dilemma is that if I wait until September 20, 2021 I will be eligible for another sabbatical. It's kind of hard to say no to two months off paid. My next dilemma is that if I wait until 2024 I turn 55 and can withdrawal from my 401K without having to setup Roth ladders and a 72t SEPP. I'm actually starting to lean towards waiting the extra 3 years just for peace of mind and ease access to funds. As a trade off, I've been thinking about really focusing on doing what I want now and maybe spending a little extra to vacation more etc. so that I can better handle working the extra 3 years of working. I'm so torn, but trying to prepare myself now in case I go that route.
Jack of all trades, master of none

MarcherLady

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Re: 2021 FIRE Cohort
« Reply #72 on: September 20, 2016, 01:17:09 AM »
Could you go Part time and keep those benefits?  Maybe cutting down your hours would help.
One step at a time

Target FIRE: 10/10/2020, but I hang out with the 2021 Cohort

MasterStache

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Re: 2021 FIRE Cohort
« Reply #73 on: September 20, 2016, 05:36:59 AM »
Haven't been here in a while and totally forgot I had written down my (our) goals. Updated in Red
My (our) goals for 2016 and current progress are:
1. Take over daycare expenses so the wife can max out her 403b. - Dropped daycare expenses. Kids both in school full time
2. Top last years 50K invested. - Took an unpaid LOA over the summer so this goal is likely unreachable
3. Take a relatively cheap and kid free vacation, utilizing CC rewards. - Wife and I went to Cancun over the summer using strictly CC rewards
4. Remodel main bathroom. - Done!
5. Design an eco-friendly and cheap patio to accent the retaining wall I installed last year - Done!
6. Continue working on home improvements - Lots of home improvements completed during my LOA
7. Exchange my wife's gas guzzling giant recliner for a more efficient Prius. Sold the SUV and wife has her Prius
8. Start playing volleyball again. - Done, although had to quit due to elbow issues
9. Participate in mud runs again (absolutely love mud runs). - See above about elbow
10. Bike more! - Lots more biking over the summer and walking
11. Have fun and enjoy everyday!!!! Always!!

sisto

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Re: 2021 FIRE Cohort
« Reply #74 on: September 20, 2016, 12:11:09 PM »
Could you go Part time and keep those benefits?  Maybe cutting down your hours would help.
This might be possible, I will definitely look into it as I get closer to FIRE.
Jack of all trades, master of none

dougules

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Re: 2021 FIRE Cohort
« Reply #75 on: October 07, 2016, 01:58:35 PM »
Let's start one of those fancy lists like all the cool kid short timers have.  Dates need not have any relation to reality.

dougules         (at 43) December 27, 2021

MarcherLady

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Re: 2021 FIRE Cohort
« Reply #76 on: October 07, 2016, 02:47:21 PM »
Good plan.

dougules         (at 43) December 27, 2021
MarcherLady    (at 49) October 10, 2020 


This Monday is our FIRE Pre-versary, we'll be celebrating four years to go. I know I should move into the 2020 cohort, but you are my people!
One step at a time

Target FIRE: 10/10/2020, but I hang out with the 2021 Cohort

Chaplin

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Re: 2021 FIRE Cohort
« Reply #77 on: October 07, 2016, 11:43:03 PM »
dougules         (at 43) December 27, 2021
MarcherLady    (at 49) October 10, 2020
Chaplin           (at 47ish) March 23, 2021

bownyboy

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Re: 2021 FIRE Cohort
« Reply #78 on: October 12, 2016, 03:35:16 PM »
So being UK based, the one (and only) upside of our country deciding to quit the EU is the fact that my stocks and shares iSAs and pensions have increased a huge amount over the last two months.

My initial calculation was December 20201, its now moved forward to August 2021.

But with Puntin calling back all Russian's from foreign soil today, who knows if there will be FI to be had in 2021 at this rate!


effigy98

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Re: 2021 FIRE Cohort
« Reply #79 on: November 02, 2016, 02:14:12 PM »
My update:

PHASE 1 GOALS (2012 - 2019)
  • House paid off
  • 1 million in investment accounts (401k/Roth/Taxable)
  • 20k kid college fund
  • 20k HSA
  • Get better at algorithm interviews so i can get more fun jobs

House value is 800k, paid down to 170k as of yesterday. Rental value is 240k, paid down to 81k. Investment accounts total 610k. College fund 3k, HSA 10k. In a very boring job right now, side hustle job is still fun and I get to code (software developer) every day. Side hustle has aloud me to get back on track (was a bit behind goals). Side hustle is allowing wife to go part time to care for family without impacting the goals and in case I become unemployed one day (they do yearly layoffs here).

PHASE 2 GOALS (2019 - 2021) (FI)
  • Find fun and easy job and try to work with or hire friends
  • Rental paid off
  • 50k kid college fund
  • 28k HSA
  • Invest in fixer upper house (to retire to) with some land and fix it up, sell primary residence or rent it out
  • Make house very self sufficient, solar, garden, potential rental apartments or storage places, etc

December 2021, retire (44yr)!
« Last Edit: November 02, 2016, 02:18:07 PM by effigy98 »

dreams_and_discoveries

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Re: 2021 FIRE Cohort
« Reply #80 on: November 03, 2016, 03:12:04 AM »
My update:

PHASE 1 GOALS (2012 - 2019)
  • House paid off
  • 1 million in investment accounts (401k/Roth/Taxable)
  • 20k kid college fund
  • 20k HSA
  • Get better at algorithm interviews so i can get more fun jobs

House value is 800k, paid down to 170k as of yesterday. Rental value is 240k, paid down to 81k. Investment accounts total 610k. College fund 3k, HSA 10k. In a very boring job right now, side hustle job is still fun and I get to code (software developer) every day. Side hustle has aloud me to get back on track (was a bit behind goals). Side hustle is allowing wife to go part time to care for family without impacting the goals and in case I become unemployed one day (they do yearly layoffs here).

PHASE 2 GOALS (2019 - 2021) (FI)
  • Find fun and easy job and try to work with or hire friends
  • Rental paid off
  • 50k kid college fund
  • 28k HSA
  • Invest in fixer upper house (to retire to) with some land and fix it up, sell primary residence or rent it out
  • Make house very self sufficient, solar, garden, potential rental apartments or storage places, etc

December 2021, retire (44yr)!

I love the plan effigy, looks like a semi-retirement in 2019 if I'm reading it right? Into a more fun job?

Accountant007

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Re: 2021 FIRE Cohort
« Reply #81 on: November 03, 2016, 08:00:16 AM »
dougules         (at 43) December 27, 2021
MarcherLady    (at 49) October 10, 2020
Chaplin           (at 47ish) March 23, 2021
Accountant007  (at 48) December 23, 2021

dreams_and_discoveries

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Re: 2021 FIRE Cohort
« Reply #82 on: November 03, 2016, 09:07:43 AM »
Can i play too?

dougules         (at 43) December 27, 2021
MarcherLady    (at 49) October 10, 2020
Chaplin           (at 47ish) March 23, 2021
Accountant007  (at 48) December 23, 2021
dreams_and_discoveries (just before 40) February 2021

dougules

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Re: 2021 FIRE Cohort
« Reply #83 on: November 03, 2016, 10:17:21 AM »
Can i play too?

dougules         (at 43) December 27, 2021
MarcherLady    (at 49) October 10, 2020
Chaplin           (at 47ish) March 23, 2021
Accountant007  (at 48) December 23, 2021
dreams_and_discoveries (just before 40) February 2021

Please do.  We need to get some enthusiasm going to push us through the next 5 years. 

MarcherLady

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Re: 2021 FIRE Cohort
« Reply #84 on: November 03, 2016, 03:43:54 PM »
Ohh, DnD, get you, you youngster!
One step at a time

Target FIRE: 10/10/2020, but I hang out with the 2021 Cohort

dreams_and_discoveries

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Re: 2021 FIRE Cohort
« Reply #85 on: November 03, 2016, 04:33:29 PM »
Ohh, DnD, get you, you youngster!

Ha ha!

But thanks :)

effigy98

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Re: 2021 FIRE Cohort
« Reply #86 on: November 03, 2016, 04:59:59 PM »
I love the plan effigy, looks like a semi-retirement in 2019 if I'm reading it right? Into a more fun job?

Yes semi retired with FU money. It will give me the courage to work less and look for other jobs in the company without fear of retaliation. I do not know how much building or rehabbing my forever home will cost, so I will probably keep my job until I have completed that project. I want a little land around it as well so I can build a huge workshop and have future storage rental spaces IF I needed the money for some reason. People pay up to $300 a month just to store their boats and RVs around here on your property.
« Last Edit: November 03, 2016, 05:16:28 PM by effigy98 »

Greenback Reproduction Specialist

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Re: 2021 FIRE Cohort
« Reply #87 on: December 05, 2016, 04:04:28 PM »
Awesome, good idea!

dougules         (at 43) December 27, 2021
MarcherLady    (at 49) October 10, 2020
Chaplin           (at 47ish) March 23, 2021
Accountant007  (at 48) December 23, 2021
dreams_and_discoveries (just before 40) February 2021
GBRS              (at 36) Sept, 2021
FIRE.... Remember, it's closer than it feels.



Greenback Reproduction Specialist

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Re: 2021 FIRE Cohort
« Reply #88 on: December 05, 2016, 04:08:26 PM »
Please do.  We need to get some enthusiasm going to push us through the next 5 years.

+1 Sign me up for enthusiasm, I need something to take the focus off the short term pain.
FIRE.... Remember, it's closer than it feels.



stashyMel

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Re: 2021 FIRE Cohort
« Reply #89 on: December 05, 2016, 07:45:56 PM »
Can I get in the hot tub too?

House paid for 6/12/2013 $165K in 3.5 years back.
Current Net Worth $525K plus the house. $325K more than since we paid off the house.
About 3.5 years from now (mid 2020), we should reach the cross over point between expenses and retirement income. The only problem will be income in the gap years at that point. That is also my 20 year anniversary with the company. I have a pension. So I must be careful when choosing to leave because once you leave, you can't get back into the pension.
In early 2015, I chose to start working 80-90% schedule. So no more Fridays for me. I either work 4*8 or 4*9s.

1. We need to lower our spending. That shouldn't be a problem in some respects. Significant spending is for not for profit travel. While it's a tax write off, it is still a loss. Also our kids should be out of the house by then. Their college is paid for by the state. We adopted older kids. They are graduating this year. 
2. Reduce our stuff
3. Loose weight
4. Figure out what will replace our income in the gap years. I really like the idea of being a part time National Park Service Ranger.
5. Finish a quilt
6. Hike Isle Royale and eventually the AT
Lurking for years. Home debt free and halfway to FIRE.

2Birds1Stone

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Re: 2021 FIRE Cohort
« Reply #90 on: December 06, 2016, 06:20:20 AM »
Haven't posted in here since March. Things slowed down at work and now I'm not so sure 2021 will happen for me. Looks like 2022 is more in the cards. Darn you commission based pay!

I am up to 10X barebones fire expenses saved.
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33 Months till FIRE - Stop by, or stay a while.....
https://forum.mrmoneymustache.com/journals/fire-by-thirty-five-chronicles-36-months-till-sabbatical!/

bownyboy

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Re: 2021 FIRE Cohort
« Reply #91 on: December 06, 2016, 05:10:34 PM »
And me please! Despite my earlier message saying my FIRE predicted date had moved to August 2021, I'm going to put Christmas Day 2021, as what a present!

dougules         (at 43) December 27, 2021
MarcherLady    (at 49) October 10, 2020
Chaplin           (at 47ish) March 23, 2021
Accountant007  (at 48) December 23, 2021
dreams_and_discoveries (just before 40) February 2021
GBRS              (at 36) Sept, 2021
Bownyboy       (at 29) 25th December 2021

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Re: 2021 FIRE Cohort
« Reply #92 on: December 06, 2016, 05:16:54 PM »
And me please! Despite my earlier message saying my FIRE predicted date had moved to August 2021, I'm going to put Christmas Day 2021, as what a present!

Bownyboy       (at 29) 25th December 2021

Oh good im not the youngest in the group!

Congrats Browny!
FIRE.... Remember, it's closer than it feels.



MarcherLady

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Re: 2021 FIRE Cohort
« Reply #93 on: December 07, 2016, 11:01:27 AM »
Wow, Bownyboy, you are storming ahead to FIRE at such a young age, great going! 

After a couple of rubbish months on the stock market, today was a good day.  We now have 41% of the stash we would need if we retired now, 58% of the way to our target figure that we need to stop work on 10/10/2020.

Of course, I am starting to get excited about the idea of building a house after we finish work.  I've been researching, and if we are sensible when buying a plot we should be able to do it for the equity we hold in this house.  But I caught myself thinking last night:  an extra 50K would make all the difference and give us a bit more breathing room, I wonder if I just worked a few more months...? Self, just stop it! I'm just going to have to make our savings work harder, to magic up that extra 50 grand from somewhere else.
One step at a time

Target FIRE: 10/10/2020, but I hang out with the 2021 Cohort

MasterStache

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Re: 2021 FIRE Cohort
« Reply #94 on: December 07, 2016, 01:21:39 PM »
I am happy to report I am no longer in the 2021 class. More likely 2019-2020 class. We have been saving like crazy and further ahead than I realized. 

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Re: 2021 FIRE Cohort
« Reply #95 on: December 07, 2016, 02:28:41 PM »
I am happy to report I am no longer in the 2021 class. More likely 2019-2020 class. We have been saving like crazy and further ahead than I realized.

Sorry to see you go, but congrats!
FIRE.... Remember, it's closer than it feels.



dougules

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Re: 2021 FIRE Cohort
« Reply #96 on: December 08, 2016, 10:48:09 AM »
And me please! Despite my earlier message saying my FIRE predicted date had moved to August 2021, I'm going to put Christmas Day 2021, as what a present!

Bownyboy       (at 29) 25th December 2021

Oh good im not the youngest in the group!

Congrats Browny!


I would think being the youngest in the group would be bragging rights.



Wow, Bownyboy, you are storming ahead to FIRE at such a young age, great going! 

After a couple of rubbish months on the stock market, today was a good day.  We now have 41% of the stash we would need if we retired now, 58% of the way to our target figure that we need to stop work on 10/10/2020.

Of course, I am starting to get excited about the idea of building a house after we finish work.  I've been researching, and if we are sensible when buying a plot we should be able to do it for the equity we hold in this house.  But I caught myself thinking last night:  an extra 50K would make all the difference and give us a bit more breathing room, I wonder if I just worked a few more months...? Self, just stop it! I'm just going to have to make our savings work harder, to magic up that extra 50 grand from somewhere else.

The market going up isn't really a good thing for anybody here.  We're still buyers, so I'm really hoping prices will go back down into the range of sane.  The ideal would be for prices to go way down and stay depressed then shoot up after you've been buying on sale for a few years. 


I am happy to report I am no longer in the 2021 class. More likely 2019-2020 class. We have been saving like crazy and further ahead than I realized.

Congrats, but I'm a little jealous.  Maybe I can join you as I improve my numbers. 

deeshen13

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Re: 2021 FIRE Cohort
« Reply #97 on: December 08, 2016, 01:00:36 PM »
Dougules is correct. The ideal market performance when you are still in the accumulation phase is down. When you switch over to the distribution phase after FIRE is when you want the market up.

I have 14x FIRE expenses and am fully invested (so a good chunk of  money) and root hard (not actually) for the market to go down.

Of course, it's ultimately a locus of control of item. Becoming completely agnostic to market performance and controlling your controllables is the most preferred course.

dougules

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Re: 2021 FIRE Cohort
« Reply #98 on: December 09, 2016, 02:02:57 PM »
Dougules is correct. The ideal market performance when you are still in the accumulation phase is down. When you switch over to the distribution phase after FIRE is when you want the market up.

I have 14x FIRE expenses and am fully invested (so a good chunk of  money) and root hard (not actually) for the market to go down.

Of course, it's ultimately a locus of control of item. Becoming completely agnostic to market performance and controlling your controllables is the most preferred course.

Actually one of the issues is that people say "money" when it's not.  People see prices go down and think they've lost money because people refer to stocks as "money" all the time.  It's actually equity, so no matter what prices do you still have the same number of equity/shares (complete bankruptcies aside of course).    Sorry to nitpick, but it's a minor detail that makes a major difference in how people react to the market. 

SassyG

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Re: 2021 FIRE Cohort
« Reply #99 on: December 23, 2016, 10:03:10 AM »
dougules         (at 43) December 27, 2021
MarcherLady    (at 49) October 10, 2020
Chaplin           (at 47ish) March 23, 2021
Accountant007  (at 48) December 23, 2021
dreams_and_discoveries (just before 40) February 2021
GBRS              (at 36) Sept, 2021
Bownyboy       (at 29) 25th December 2021
SassyG            (at 54) (official date TBD) 2021

So I guess that makes me the oldest in the group, but only in earth years ;-) To be honest, I could probably FIRE now, but seeing as how I just discovered this whole concept about a year ago, seems like I should take time to get my $#!^ strategized first. A few goals:

- 2M net worth for FIRE (just in case... Currently at 1.3M, but that includes 4 properties, 2 do not produce income)

- Find a great partner/co-pirate to share this adventure with. This is really important to me, and I don't want to head off on this alone. I broke up with my SO of 8 yrs in large part because we couldn't get on the same financial/life plan page. Been seeing a nice guy for about 3 mo now, but still early stages. Stay tuned...

- I have a pretty good, well paying, low stress job that I can walk to. If I *have* to report to an office every day, this isn't such a bad gig.

- Savings rate for last qtr of 2016 is 85%!!! It won't last into 2017, as I was just being super aggressive to max out everything before end of the year. Average for 2016 was 25%, which is pretty good considering I was unemployed the first half of the year! Hope to maintain an average >50% rate next year.

- Post FIRE: Travel, move to EU, paint, read, be quiet, drink tea in front of a fabulous view.

Part of the challenge with calculating my own FIRE plan is that I currently live in a HCOL area (SF!), but manage to keep most expenses pretty low, around 2K/mo. But I plan to move to Switzerland/EU in retirement, and the COL will be kind of unpredictable. I'd like to live in different countries about 4-6 months at a time (a la Go Curry Cracker). Maybe Portugal for 6 mo (very LCOL), then CH for 4 mo (very HCOL), then Denmark for 4 months (HCOL) then Croatia 6 mo (LCOL). Then who knows, maybe pop off to SE Asia for a couple of years, you get the idea... So, really hard to predict how those expenses will pan out.

Anyway, great to find you guys! Looking forward to following and cheerleading everyones progress!