Post by: MarcherLady on April 17, 2015, 09:31:38 AM
Husband and I will have several work pensions maturing in various years from 2025 onwards, so our goal is to have enough stached to live on til the pensions cover our expenses in full. 2021 looks like being the tipping point for that. When I first sold Hub on this plan it seemed amazingly good compared to the mainstream standard retirement date. Now, it just seems a long slog still to go. Financially, we could probably bring FIRE in a year or so earlier if we cut expenses harder, but it's a fight not worth having with Himself. I haven't given up hope though.
What are your strategies for making through the next 6 years?
Post by: SaintM on April 17, 2015, 09:54:46 AM
Post by: WildJager on April 17, 2015, 04:34:05 PM
I can retire from the Air Force in July 2021. Keep my eye on the prize and nose on the grindstone until then. Kids out of the house by then too, so expenses will crater.
Haha, ditto. Except instead of retire, it will be my first opportunity to leave after my commitment. I don't plan to make it until 20. Since I'm practically FI at this point, I am able to do a lot of good bucking the system and speaking my mind instead of chasing bullets to ensure the pension. So, 2021 is my date.
Post by: humblefi on April 18, 2015, 11:25:27 AM
What are your strategies for making through the next 6 years?
It is 2025 for me...but here is what I do to keep myself motivated. You may not like this strategy....so apologies in advance.
Run through the following disaster scenarios:
+ All your stock market dropped by 40%...can you buy a rental property to diversify the income streams?
+ One of your pension funds had a fraud and is underfunded....can you live with a 30% reduction in pension income?
+ A medical issue comes up...do you have a medical fund?
+ A kid needs financial help...can you help your kids in some way?
+ .....
Can your current plan withstand one or more of the above disaster scenarios? If not, it may be useful to add another goal and fund it. Goals keep me focused...kinda of like blinders on a horse and makes me ignore all the side attractions of life.
Hope that helps.
Post by: Roots&Wings on April 19, 2015, 05:56:26 PM
- Gratitude for my job. It's enabling my goals & financial independence plans!
- Happiness in the present. Consciously choosing to do what I can now instead of putting off till later, e.g. exercise, healthy eating, hobbies...the things I hope to do more of once FIRE.
- This forum for continued ideas & inspiration :)
Post by: Exhale on April 19, 2015, 09:27:13 PM
1) Fitness and healthy eating
2) Being more creative - right now that means learning to draw, later it'll be dancing
3) Spending quality time with my loved ones
4) Spending quality time alone
5) Find and join a weekly meditation group
6) Find a way to frugally spend a weekend each month at one of the amazing local beaches
I'd love to hear what non-financial things are on other people's pre-FIRE lists.
Post by: jlajr on April 20, 2015, 11:37:57 AM
Nonetheless, I've got my expenses low enough right now that I've set a FIRE target age of 55/year of 2025. It is possible that by 2021, though, I would be able to begin exercising at least partial FI. Maybe I'll start looking for a regular, part-time job that could fund expenses, while allowing the stash to continue to grow.
Being relatively new to the concept, I still have a significant amount of inner motivation.
Also, on a regular basis, external motivation pops up. For example, a couple of weeks ago, my company laid off my manager, who was on the team for almost 25 years, and two other colleagues, including one who was on the team for 29 years. These types of changes and decisions by senior management, along with past experience with lousy junior and middle management, provides a lot of fuel for my FIRE!
Post by: MarcherLady on April 24, 2015, 09:26:26 AM
It's good to have some company. SaintMichael and WildJager, what plans do you have for post FIRE? I'm guessing that you have had enough of international travel?
humblfi, thats an interesting idea, I like it.
step-in-time and Exhale, yes, I am now starting to concentrate on what I will be retiring to, rather than what I am retiring from.
For me it's increased health through better eating and more exercise, more gardening, beekeeping, sewing, and building my friendship base in my community.
jlajr, I like the idea of partial FIRE, maybe that should be my next goal.
Post by: sisto on July 30, 2015, 04:22:10 PM
Post by: Money Badger on October 31, 2015, 06:05:29 AM
As for "why"... Fall 2021 is the point I've written the last tuition check for my youngest of 2 girls and will be 53... and my wife and I will have downsized to a smaller place. I'll considered "old and expensive" for the Technology field I'm in by then and frankly want to pursue my agrarian side again... Praying that health won't be an issue between now and then, I want some space to garden, have a reasonably sized "fifth wheel" style RV we can take on tailgate excursions and trips, and am strangely drawn to building a "man shed" in the garden that has a big TV and a beer fridge for college football when the garden is winding down. From there, I don't have much of a crystal ball as to what our girls will do, but that's part of the fun...
So, the goal is in mind... We can all crow about how well we're doing financially or what tactics we're using to squeeze pennies or pence... But instead, to ensure we keep our eyes on the price, what's magical about 2021 for you that'll keep you motivated along the way?
Post by: nazar on October 31, 2015, 09:58:36 AM
Post by: steveo on October 31, 2015, 08:09:45 PM
Post by: Exhale on October 31, 2015, 08:34:19 PM
Inspired by Jon Snow's journey in his first months of FIRE, I've focused on getting physically fit. (Being frugal has the side benefit of helping to get healthy - especially, frugal eating.) I'm another 4-6 months away from where my body needs to be. Once I'm there it'll be maintenance and I can turn my eyes to another project. I think that next project will be to try and build a social life. It's a challenge for me while working full time. Partly due to being an introvert (need recovery time from my people-intensive job) and partly due to using the time to work out/cook healthy. Also, while living car free is great, it does negatively impact my ability to go to a gathering at night or to places not well served by buses, etc. (I can't bike.)
I'd be interested to see what people's fiscal and non-fiscal goals are on the way to 2021.
Post by: steveo on November 01, 2015, 01:55:32 AM
1. Being grateful for what I have.
2. Thinking about how bad it could be. It could get a lot worse than what it is now.
3. Focussing on doing other stuff - health and fitness, reading, chess etc.
4. Trying to enjoy work as much as possible. I do work with people that I really like and the work isn't that bad. I just don't like the idea of working 40 hours per week + travel time.
5. Lastly trying to gain as much time as possible back from work. So if I can work from home or leave early or get in late (although I tend to start early anyway) I take those opportunities.
Post by: MarcherLady on November 01, 2015, 04:41:46 AM
For me 2021 is a bit of a tease, it's almost within touching distance, but not quite. The exciting part of learning about FIRE and working out our approach is all finished, but it's too soon to start planning drawdown, because too much could still change before we hit the finish line. An inheritance or a job loss could move the goalposts by 5 years either way.
I'm concentrating on my Get a life tree, both to develop skills and hobbies ready for FIRE, and to improve my quality of life on the lead up to it. I'm also trying to check my spreadsheets less. Not doing too well with that one.
Post by: Money Badger on November 01, 2015, 06:25:48 AM
1. Pay off the high cost home's mortgage. Saves $10K to $15K in out of pocket expense and makes sense given our timeframes for the following...
2. Get the kids off to college (2016 and 2018)
3. Move out of said high cost house to free up as much equity as possible again. Invest the proceeds. On an amusing side note, we closed our last home sale without a mortgage either to a British couple working an ex-pat assignment in the US. They paid cash as well so the home closing took exactly 19 minutes!
4. Maxing 401K (any further chunks towards mortgage beast, then add to income investments that we have)
5. Starting the SEPP Roth pipeline in 2016 so that's available in 2021.
6. Get kids OUT of college on time (pay last tuition in Dec 2021). They already know they're on their own after undergrad (as far as they know at least... wink ;-)
7. FIRE!
We need to clear 9K per month in passive income for FIRE to cover living plus medical insurance. Currently sitting at almost $2K per month and growing that nicely each year. The mortgage will free up $1K in expense. The house change frees up another $1500 per month in non-mortgage expense. That leaves 5 years to build another stream of approx $4500 to fund a comfortable FIRE (fingers and toes crossed)!
Post by: effigy98 on November 01, 2015, 10:56:28 PM
Currently putting about 80k in retirement accounts and 70k per year on house. The only problem I will probably run into is my job is getting so easy as time goes on but they keep increasing the wages (to insanity levels, maybe we will have another dotcom crash, who knows), it will be hard to leave as it's not a whole lot of work, the only thing I hate is having to be in the office 5 days a week and working on boring projects. The funny thing I am looking forward to most is the FU money so I can pick and choose my projects and not feel like I'm putting my family at financial risk.
Post by: Money Badger on November 10, 2015, 07:44:59 PM
Post by: Exhale on November 22, 2015, 10:38:06 PM
2016-2019
- Get fit and healthy
- Build a low-cost social life (inspired by the book Soup Night (http://www.amazon.com/Soup-Night-Recipes-Creating-Community/dp/1612120997))
2019 = very bare bones FIRE (due to an unexpected raise)
2020-2021
- Decision time - stay put? work PT? etc.
- Use up non-reimbursable vacation time
- If needed, prep for move
- FIRE
Post by: Money Badger on November 25, 2015, 05:00:48 AM
Post by: MarcherLady on November 25, 2015, 05:58:12 AM
Post by: MasterStache on December 16, 2015, 01:44:14 PM
Anywho downsizing and getting rid of some other ridiculous "luxuries" doubled our savings rate this year form last. My wife likes her job so she plans to keep working into her 50s. She gets a pension and will carry insurance. I might call it quits around 45, which would be 2021. Truthfully we can easily live on one income now.
Post by: Wadiman on December 25, 2015, 06:39:42 PM
I'm making pretty good progress (despite the 4% return on investment over the past year) and have recently taken up a job that I think I'll be happy to stay in until THE DATE has been reached.
My investment plan involves 50% of surplus towards aggressive paydown of the house mortgage and 50% into ETF/equity portfolio. I also have an investment property which pretty much takes care of itself. As I approach FIRE, the plan is to sell the current home in a HCOL area and buy in an area with more space/natural beauty - with the upside of a few hundred thousand as a result which then goes into investments. Will also sell the investment property and invest the proceeds as well.
I have a personal challenge with being too future-focussed so am trying to challenge myself to focus more on enjoying the day-to-day. Have had a big focus lately on improving my health - now ride a bike to work and have been changing my diet. Want to try and incorporate some weights too but am lacking in motivation to get this going.
Like a few of you here I am also developing some new interests. Some of these may morph into side-gigs or even post-FIRE business ideas. I've recently gotten into coffee-roasting and have just done a barista course which I enjoyed very much. Between now and 2021 i would like to identify and start a business of some sort.
Post by: Exhale on December 28, 2015, 10:44:16 PM
Husband and I will have several work pensions maturing in various years from 2025 onwards, so our goal is to have enough stached to live on til the pensions cover our expenses in full. 2021 looks like being the tipping point for that. When I first sold Hub on this plan it seemed amazingly good compared to the mainstream standard retirement date. Now, it just seems a long slog still to go. Financially, we could probably bring FIRE in a year or so earlier if we cut expenses harder, but it's a fight not worth having with Himself. I haven't given up hope though.
How is your progress going? Is Hub any closer to being more frugal with expenses? Keep us posted. Wishing you well!
Post by: Connie on January 02, 2016, 07:34:32 PM
I worry that my high paying job gravy train will end before I can hit my FI number and I'll have to take a 70% paycut, extending FIRE out for decades. I work in technology consulting in a really niche software that I personally don't believe in, so I don't know how well it will do in the market. I also don't know how easy it would be for me to switch to different software or industry while making the same amounts. Does anyone else worry about that?
Post by: Exhale on January 02, 2016, 07:43:33 PM
I worry that my high paying job gravy train will end before I can hit my FI number and I'll have to take a 70% paycut, extending FIRE out for decades. I work in technology consulting in a really niche software that I personally don't believe in, so I don't know how well it will do in the market. I also don't know how easy it would be for me to switch to different software or industry while making the same amounts. Does anyone else worry about that?
Welcome to the Class of 2021! My worry is if I become disabled before I hit FIRE. It's one of the reasons, I'm stretching to keep myself at a 78% savings rate is so I can reach FIRE as soon as possible. After that I might work another 1-2 years to build a car fund and perhaps fund a special trip, but those will be extras that I can live without if necessary.
Post by: Connie on January 02, 2016, 09:08:29 PM
Welcome to the Class of 2021! My worry is if I become disabled before I hit FIRE. It's one of the reasons, I'm stretching to keep myself at a 78% savings rate is so I can reach FIRE as soon as possible. After that I might work another 1-2 years to build a car fund and perhaps fund a special trip, but those will be extras that I can live without if necessary.
Do you have long term disability insurance? My employer had short term at 100% for around 12 weeks and then long term at 40%. I think a nice disability insurance plan would alleviate a lot of my worries about becoming disabled.
Post by: MarcherLady on January 03, 2016, 07:44:40 AM
Husband and I will have several work pensions maturing in various years from 2025 onwards, so our goal is to have enough stached to live on til the pensions cover our expenses in full. 2021 looks like being the tipping point for that. When I first sold Hub on this plan it seemed amazingly good compared to the mainstream standard retirement date. Now, it just seems a long slog still to go. Financially, we could probably bring FIRE in a year or so earlier if we cut expenses harder, but it's a fight not worth having with Himself. I haven't given up hope though.
How is your progress going? Is Hub any closer to being more frugal with expenses? Keep us posted. Wishing you well!
Hi Exhale. He's somewhat onboard, we've made a competition out of who can get the best fuel consumption out of the car, for example. I think the main problem is that he wants the Retirement, but isn't prepared to make any sacrifices to get there. Which is frustrating to me. But I know that preaching to him won't achieve my goal, I have to walk the walk, and eventually he'll join me, and believe it's his own idea!
Post by: Exhale on January 03, 2016, 12:01:06 PM
Do you have long term disability insurance? My employer had short term at 100% for around 12 weeks and then long term at 40%. I think a nice disability insurance plan would alleviate a lot of my worries about becoming disabled.
I do have long term disability insurance (and am so grateful that it's available to me through my employer). However, it isn't something I want to depend since there are many ways it may not come through for the disabled person. Mainly these would be things like trouble with getting the level of disability approved by the insurance company and/or the insurance not paying the amount needed (not because the insurance is avoiding doing the right thing, but because the disability incurs such high costs). In short, I'm deeply grateful for the insurance as something that might help if needed, but don't count on it.
Post by: Exhale on January 03, 2016, 12:10:54 PM
How is your progress going? Is Hub any closer to being more frugal with expenses? Keep us posted. Wishing you well!Hi Exhale. He's somewhat onboard, we've made a competition out of who can get the best fuel consumption out of the car, for example. I think the main problem is that he wants the Retirement, but isn't prepared to make any sacrifices to get there. Which is frustrating to me. But I know that preaching to him won't achieve my goal, I have to walk the walk, and eventually he'll join me, and believe it's his own idea!
Did you see lifejoy's How To Convert Your SO To MMM In 50 Awesome Steps (http://forum.mrmoneymustache.com/ask-a-mustachian/how-to-convert-your-so-to-mmm-in-50-awesome-steps/)?- you might enjoy it. My ex-SO loved the idea of FIRE, but not what it'd take to get there. It's not the reason why we separated, but it would've been a challenging issue for us both if we'd stayed together. Good luck with the journey!
How you done your Life Tree? Any surprises there?
Post by: MarcherLady on January 03, 2016, 02:33:24 PM
Interesting to hear people talking about worries. I think my main fear about FIRE is that I won't have the motivation to make the most of it. I guess time will tell on that one, what's the worst that can happen? I end up getting another job I guess! Which wouldn't be the end of the world.
Post by: Greenback Reproduction Specialist on January 14, 2016, 02:21:41 PM
I'm looking at a 2021 fire as well.
Focusing on
-Living more in the moment, I too have a problem with living in the future.
-Taking on any and every extra income opportunity to reach the goal sooner
-Getting my private pilot license, for post fire occupation.
-Closing on our current real estate deal.
-Raising capital to purchase more assets.
5yrs seems far, but I know it will come fast! Good luck to everyone, look forward to keeping up with all of you.
Post by: Chaplin on January 17, 2016, 09:18:54 AM
Five years is based on current income. Unfortunately getting said income requires more compromises on health, interests and family than I'm willing to make now. So I'm looking at downshifting the job which would most likely result in a pay cut, although it might cut some expenses too.
Post by: MarcherLady on January 17, 2016, 11:01:32 AM
Post by: Exhale on January 17, 2016, 11:29:40 AM
I was wondering what your specific goals are for 2016. I'm inspired by jordanread's Strength & Fitness (http://forum.mrmoneymustache.com/throw-down-the-gauntlet/strength-fitness-2016/) thread and thought it might be helpful to have one here so we can cheer one another and, if needed, help problem solve. See below for the 21ers who've posted so far and the goals that I gleaned from their posts. (My apologies in advance if I got any of these wrong. If so, let me know and I'll fix it asap. And if you wish to be removed from this list, just let me know.) Note: dashes = goals from previous posts / numbers = 2016 goals.
2016 Goals
MarcherLady
- Complete the "Get a Life Tree" (https://c1.staticflickr.com/5/4014/4244125848_6d285c366b.jpg)
- Develop skills and hobbies ready for FIRE and improve quality of life on the lead up to it
- Check spreadsheets less
SaintM
WildJagar
humblefi
step-in-time
- Start looking for a regular, part-time job that could fund expenses, while allowing the stash to grow
Exhale
1) Maintain 78% savings rate
2) Control grocery spending - have a journal to help w/meal planning and celebrating every small success
3) Recover from recent injury and regain fitness
jljar
- Partial FIRE
sisto
1) Using a similar method as MMM for sharing an internet connection. Upfront cost ~$200, but monthly cost is $0
2) Cut cable and went back to my rood mount antenna for OTA. Monthly savings between this and above is $90.
3) Drop my fancy 4K Netflix and use my Mom's account will save $12 a month
4) Quit paying the extra $100 a month against my mortgage so I have more money to invest.
5) Upping my 401K contribution another 1%
6) Cut my youngest child from my dental plan because he doesn't go anyway. Saving $8 a month.
7) Have cut back my wine budget quite a bit. Saving about $75 a month.
8) Cut back my food bill. Working on eating more peasant type food. Plan to save $100 a month.
Indentured4now
nazar
steveo
effigy98
- Putting about 80k in retirement accounts and 70k per year on house
- FU money - "so I can pick and choose my projects and not feel like I'm putting my family at financial risk"
beginnerstash
1. Take over daycare expenses so the wife can max out her 403b. - Already done
2. Top last years 50K invested. - Off to a great start
3. Take a relatively cheap and kid free vacation, utilizing CC rewards. - Ready to book, just working out babysitting details.
4. Remodel main bathroom. - Planned for Christmas time with me having 2 weeks off work
5. Design an eco-friendly and cheap patio to accent the retaining wall I installed last year
6. Continue working on home improvements
7. Exchange my wife's gas guzzling giant recliner for a more efficient Prius.
8. Start playing volleyball again.
9. Participate in mud runs again (absolutely love mud runs).
10. Bike more!
11. Have fun and enjoy everyday!!!!
wadiman
- Focus on enjoying the day-to-day
- Ride a bike to work
- Change diet
- Incorporate some weights
- Identify and start a business of some sort
Connie
Greenback Reproduction Specialist
- Live more in the moment
- Take on any and every extra income opportunity to reach the goal sooner
- Get private pilot license, for post fire occupation
- Close on current real estate deal
- Raise capital to purchase more assets
Chaplin
Post by: Sonos on January 17, 2016, 07:50:52 PM
1) Start tracking so we know what our savings rate is. Specifically, checking YNAB (need to finish setting this up) and MINT (this is set up) once a week.
2) Try to get that savings rate as close to 75% as possible (most likely, this means less eating out at restaurants)
3) Organize, simplify, and automate our financial system as much as possible to make things easy-peasy. This specifically means:
a) pay all bills out of our family checking account
b) setting up auto-pay and auto-deposit on as many things as possible
c) skim off overages in our checking account to be automatically deposited into Betterment.
Also, I changed my forum name from Firette to Firette2020. I think 2021 is our most realistic FIRE date, but I put 2020 in my name as motivation.
Post by: MarcherLady on January 20, 2016, 11:10:37 AM
And Firette2020, that's a great idea.
Post by: sisto on January 21, 2016, 09:28:28 AM
I am using a similar method as MMM for sharing an internet connection. Upfront cost ~$200, but monthly cost is $0
Cut cable and went back to my rood mount antenna for OTA. Monthly savings between this and above is $90.
Upcoming plan to drop my fancy 4K Netflix and use my Mom's account will save $12 a month
Quit paying the extra $100 a month against my mortgage so I have more money to invest.
Upped my 401K contribution another 1%
Cut my youngest child from my dental plan because he doesn't go anyway, I have to keep him on medical due to ACA. Saving $8 a month.
Have cut back my wine budget quite a bit. Saving about $75 a month.
Cut back my food bill. Working on eating more peasant type food. Plan to save $100 a month.
Post by: MasterStache on February 01, 2016, 09:29:31 AM
1. Take over daycare expenses so the wife can max out her 403b. - Already done
2. Top last years 50K invested. - Off to a great start
3. Take a relatively cheap and kid free vacation, utilizing CC rewards. - Ready to book, just working out babysitting details.
4. Remodel main bathroom. - Planned for Christmas time with me having 2 weeks off work
5. Design an eco-friendly and cheap patio to accent the retaining wall I installed last year
6. Continue working on home improvements
7. Exchange my wife's gas guzzling giant recliner for a more efficient Prius.
8. Start playing volleyball again.
9. Participate in mud runs again (absolutely love mud runs).
10. Bike more!
11. Have fun and enjoy everyday!!!!
Post by: Chaplin on February 27, 2016, 12:19:06 AM
Post by: Roots&Wings on March 02, 2016, 06:12:09 AM
We are either the lamest cohort, or the one that's so busy making it happen we don't have time to talk about it!
Ha! I think it must be the latter. Though I know Exhale has been busy making all kinds of pre-FIRE checklists (http://forum.mrmoneymustache.com/post-fire/pre-fire-checklist/?topicseen) in other posts (http://forum.mrmoneymustache.com/post-fire/what-do-you-wish-you-had-done-before-fire/?topicseen) to help us all :)
More than likely 2021 is when I would feel comfortably FI (currently bare bones FI); RE likely later, but still lots of time to see. Currently fine with my job, but that can always change!
Post by: dreams_and_discoveries on March 06, 2016, 02:53:31 AM
As always, a few curveballs could come my way
- Love - I'm currently single - if this changes, maybe we could bring the date in sooner?
- Kids - I'm not particularly fond of them, but I've learned never say never
- Pets - This timeline is also pertinent as I have a 15 year old cat... will stay here until he ends his days, then travel and reconsider my stability and pet situation when I return
- Work - I'm freelance in IT consulting, and this plan banks on working 45 weeks a year at my current rate
- Taxes- our government is doing a lot of tinkering with our taxes - I'm going to have to pay more in 2016. However in FIRE, I should only have to pay a tiny amount of tax if I rent my house out when travelling
- Pension - our government is doing a lot of tinkering again with pensions - my plan works on being able to get my pension funds in flexible drawdown by 57 - if they fiddle with these ages, I'll be skint pre pension, and rich post pension date
- Unknown unknown - I'm sure there are things I've failed to plan for
I think 2021 is doable as a minimum number around 700k, but I don't think I would quit my job then. I feel like I would definitely have "one more year" syndrome. I also don't know what my partner/kids situation will look like in 5 years. With the right partner I could probably retire earlier even with a higher number like 1.2MM.
I worry that my high paying job gravy train will end before I can hit my FI number and I'll have to take a 70% paycut, extending FIRE out for decades. I work in technology consulting in a really niche software that I personally don't believe in, so I don't know how well it will do in the market. I also don't know how easy it would be for me to switch to different software or industry while making the same amounts. Does anyone else worry about that?
Hi Connie, hope you don't mind me quoting your post, we seem to have some similar FIRE situations - what makes you think you would do OMY?
Post by: Chaplin on March 07, 2016, 10:49:10 PM
Post by: MarcherLady on March 11, 2016, 01:52:31 PM
Update on goals:
Get a life tree is updated. I pop back to it occasionally when I think of anything new.
Skills and hobbies- not too bad, I went out to feed the bees today and they seem to have survived so far. The nectar flow should start in April, so it's not too long til then.
I've joined a local WI. Most of them are a bit older than me, but it's good to have a social event without Hub once a month.
Check the spreadsheet less often? FAIL
Most importantly, improve quality of life now: hell yes! Work is good, I think I'm doing the right things to achieve my promotion goal for the year. I'm hitting my exercise goals too. I'm just so damn happy recently. It's amazing.
Hi D&D, welcome.
Pension - our government is doing a lot of tinkering again with pensions - my plan works on being able to get my pension funds in flexible drawdown by 57 - if they fiddle with these ages, I'll be skint pre pension, and rich post pension date
Yes, this is a concern for us too. Right now I'm sticking my fingers in my ears and just trying to ignore the possibility. Not a lot else I can do.
Post by: Chaplin on March 11, 2016, 09:22:32 PM
I should update, right? Hmm, well, an error in my logic means I might be looking at 2020 instead of 21. Chaplin has read me my rights as the instigator of this cohort, that I am not allowed to desert you all, so we need to make a concerted push to all level-up together.
An excellent solution. Let's go annex the 2020 FIRE cohort topic. We can tell them that if they really got serious they could bump up to 2019, and so on.
2021 for me has been more about timing with my wife and child's schedule. I think 2020 could work too. We're already FI in the sense that if we sold our house and moved almost anywhere else we wouldn't need to work for money again. 2020 or 2021 would allow us to FIRE without having to move, which is important to us since we really like where we are and the school situation is good.
Post by: dreams_and_discoveries on March 12, 2016, 01:01:17 AM
Chaplin - love the enthusiasm, bumping it up to 2020 would be a dream come true, never say never, however personally it would be very ambitious for me.
MarcherLady - have just googled the life tree - what a great idea. You so very together and happy in your post, such an inspiration.
Post by: 2Birds1Stone on March 16, 2016, 02:12:44 PM
I am very active in the 2022 FIRE cohort thread since that is when my projections initially put me after a year of reading here and learning about what I really need to do to FIRE.
Due to some good fortune at work I MIGHT be able to get out a year earlier.
I am posting for motivation in hopes of graduating with you guys and gals :)
Post by: nazar on March 16, 2016, 08:45:15 PM
Post by: dreams_and_discoveries on March 19, 2016, 05:52:57 AM
*waves*
I am very active in the 2022 FIRE cohort thread since that is when my projections initially put me after a year of reading here and learning about what I really need to do to FIRE.
Due to some good fortune at work I MIGHT be able to get out a year earlier.
I am posting for motivation in hopes of graduating with you guys and gals :)
Hi 2Birds - that's amazing that you could cut a year off your FIRE timeline. I'd love to do the same, but the maths sadly doesn't really work in my case - I'd have to go back to work in some form before 57.
2016 Goals... Max out contributions. Start replacing/fixing things at home. Scratch a bucket list place or two off the list. Remove bougainvillea, start edibles garden. Keep things simple.
So Nazar, what's on the bucket list then?
Post by: nazar 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.
Post by: dreams_and_discoveries on March 20, 2016, 02:44:25 AM
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.
Post by: nazar 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.
Post by: dreams_and_discoveries 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!
Post by: Wadiman on March 23, 2016, 04:16:37 PM
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!
Post by: dreams_and_discoveries on March 24, 2016, 01:30:43 AM
Post by: Wadiman on March 24, 2016, 02:08:42 AM
Post by: Greenback Reproduction Specialist on March 24, 2016, 04:17:08 PM
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.
Post by: fidreamer on March 25, 2016, 11:01:29 AM
Post by: Greenback Reproduction Specialist 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 : )
Post by: Greenback Reproduction Specialist on May 24, 2016, 04:28:48 PM
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!!!
Post by: BoonDogle on June 30, 2016, 07:29:11 AM
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.
Post by: bownyboy on July 11, 2016, 01:18:32 AM
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?
Post by: rantk81 on August 09, 2016, 02:21:51 PM
Post by: dreams_and_discoveries 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 :)
Post by: dougules on September 15, 2016, 03:46:36 PM
Post by: MarcherLady on September 16, 2016, 04:26:22 AM
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)
Post by: dougules 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.
Post by: dreams_and_discoveries 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 ....
Post by: Chaplin on September 16, 2016, 06:14:30 PM
We set March 23, 2021.
Post by: dougules 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.
Post by: sisto on September 19, 2016, 07:35:37 PM
Post by: MarcherLady on September 20, 2016, 01:17:09 AM
Post by: MasterStache on September 20, 2016, 05:36:59 AM
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!!
Post by: sisto 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.
Post by: dougules on October 07, 2016, 01:58:35 PM
dougules (at 43) December 27, 2021
Post by: MarcherLady on October 07, 2016, 02:47:21 PM
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!
Post by: Chaplin on October 07, 2016, 11:43:03 PM
MarcherLady (at 49) October 10, 2020
Chaplin (at 47ish) March 23, 2021
Post by: bownyboy on October 12, 2016, 03:35:16 PM
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!
Post by: effigy98 on November 02, 2016, 02:14:12 PM
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)!
Post by: dreams_and_discoveries 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?
Post by: BoonDogle on November 03, 2016, 08:00:16 AM
MarcherLady (at 49) October 10, 2020
Chaplin (at 47ish) March 23, 2021
Accountant007 (at 48) December 23, 2021
Post by: dreams_and_discoveries on November 03, 2016, 09:07:43 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
Post by: dougules 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.
Post by: MarcherLady on November 03, 2016, 03:43:54 PM
Post by: dreams_and_discoveries on November 03, 2016, 04:33:29 PM
Ohh, DnD, get you, you youngster!
Ha ha!
But thanks :)
Post by: effigy98 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.
Post by: Greenback Reproduction Specialist on December 05, 2016, 04:04:28 PM
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
Post by: Greenback Reproduction Specialist 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.
Post by: stashyMel on December 05, 2016, 07:45:56 PM
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
Post by: 2Birds1Stone on December 06, 2016, 06:20:20 AM
I am up to 10X barebones fire expenses saved.
Post by: bownyboy on December 06, 2016, 05:10:34 PM
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
Post by: Greenback Reproduction Specialist 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!
Post by: MarcherLady on December 07, 2016, 11:01:27 AM
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.
Post by: MasterStache on December 07, 2016, 01:21:39 PM
Post by: Greenback Reproduction Specialist 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!
Post by: dougules 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.
Post by: deeshen13 on December 08, 2016, 01:00:36 PM
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.
Post by: dougules 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.
Post by: SassyG on December 23, 2016, 10:03:10 AM
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!
Post by: dreams_and_discoveries on December 31, 2016, 01:25:23 AM
I'm still looking good and basically on track, after taking a lower paid role and a few stock market wobbles. I'm a bit nervous about currency fluctuations, as a pound is now worth less, still thinking through the impact of this. Managed a great ~80% savings rate in 2016 (mainly due to catch-up contributions), I really budget in tax years, which will give me ~76% savings rate for 2016/2017. Managed to reduce spending from £30k/year to £24k/year, still having as much fun and keeping up everything I love.
In 2017 I hope to keep expenses lean (and hope inflation doesn't rise too much), and keep a strong savings rate. I'll earn less due to increases in taxes, and think I should expect and plan for reducing income in the years to come.
Only 4 years to go now....
Post by: dougules on January 03, 2017, 11:43:27 AM
Hi 2021 cohort, how are we all doing? Has 2016 been good to you?
I'm still looking good and basically on track, after taking a lower paid role and a few stock market wobbles. I'm a bit nervous about currency fluctuations, as a pound is now worth less, still thinking through the impact of this. Managed a great ~80% savings rate in 2016 (mainly due to catch-up contributions), I really budget in tax years, which will give me ~76% savings rate for 2016/2017. Managed to reduce spending from £30k/year to £24k/year, still having as much fun and keeping up everything I love.
In 2017 I hope to keep expenses lean (and hope inflation doesn't rise too much), and keep a strong savings rate. I'll earn less due to increases in taxes, and think I should expect and plan for reducing income in the years to come.
Only 4 years to go now....
I'm still looking good with the top of my distribution curve in late 2021. I just wish the market would go back down so we're not buying in so expensive.
Post by: dreams_and_discoveries on January 03, 2017, 01:21:39 PM
I'm still looking good with the top of my distribution curve in late 2021. I just wish the market would go back down so we're not buying in so expensive.
Yeah, it's great for the net worth figures, not ideal to buy....but can we really time the market?
Post by: dougules on January 03, 2017, 01:56:32 PM
I'm still looking good with the top of my distribution curve in late 2021. I just wish the market would go back down so we're not buying in so expensive.
Yeah, it's great for the net worth figures, not ideal to buy....but can we really time the market?
No, I'm not going to try market timing. I'm still holding my nose and buying in at whatever price, but I'm still hoping it goes down in 2017. Lets keep our fingers crossed.
Post by: Roots&Wings on January 05, 2017, 11:05:06 AM
Hi 2021 cohort, how are we all doing? Has 2016 been good to you?
I'm still looking good and basically on track, after taking a lower paid role and a few stock market wobbles. I'm a bit nervous about currency fluctuations, as a pound is now worth less, still thinking through the impact of this. Managed a great ~80% savings rate in 2016 (mainly due to catch-up contributions), I really budget in tax years, which will give me ~76% savings rate for 2016/2017. Managed to reduce spending from £30k/year to £24k/year, still having as much fun and keeping up everything I love.
In 2017 I hope to keep expenses lean (and hope inflation doesn't rise too much), and keep a strong savings rate. I'll earn less due to increases in taxes, and think I should expect and plan for reducing income in the years to come.
Only 4 years to go now....
Nice!
2016 has been good for me too. But 2021 is likely too ambitious for me to RE, might feel comfortably FI. If work starts to stink too much, I'll re-evaluate.
Hit $601k this year. Goal is $1.3M stash + paid off house. Looking at 6-10 years out for $1.3M.
Planning a conservative 3% withdrawal rate. Saving 75% of income, small salary bump to $91k for 2017.
Spent $20.5k in 2016. My FIRE budget ($36k) has a big cushion because of unknown health care costs.
Post by: MarcherLady on January 05, 2017, 01:01:32 PM
As D&D said, Brexit is the fly in the ointment, exchange rates are crap and inflation is bound to go up. I've been decreasing my future market growth predictions and increasing my future spending provisions in my model to ensure that we are planning for the worst.
On a non financial aspect the year has been mixed: Brexit again, Trump, one set of minor surgery for each of us. BUT, in the headline achievement of the year, Husband has bought into both the concept and the timeline for FIRE that I have been
Post by: dougules on January 05, 2017, 03:31:12 PM
From a financial aspect the year has been pretty good, Capital Gains were at our best record yet (8.9%) and we overall increased our stash by 26%. We are on track for hitting our number by July 2020 and retiring in Oct 2020.
As D&D said, Brexit is the fly in the ointment, exchange rates are crap and inflation is bound to go up. I've been decreasing my future market growth predictions and increasing my future spending provisions in my model to ensure that we are planning for the worst.
On a non financial aspect the year has been mixed: Brexit again, Trump, one set of minor surgery for each of us. BUT, in the headline achievement of the year, Husband has bought into both the concept and the timeline for FIRE that I have beenevangelising aboutgently sharing with him, and - while he is still a little resistant to actually changing his spending patterns - is now a believer that we can do this!
Sweet!
Try doing what we did. Get him to take out one of his luxuries at a time solely on a temporary basis, then see if he really misses it after a few months. I think slowly winding down works a lot better if your hair's not on fire. (sorry to go engineer, but a damped curve doesn't ring).
Post by: BoonDogle on January 06, 2017, 12:55:58 PM
Hi 2021 cohort, how are we all doing? Has 2016 been good to you?
Mixed bag, here. Retirement savings and net worth look fantastic, but mostly just due to inflated markets. Spending for 2016 was horrible after a very good 2015. Hopeful to get back on track in 2017. Still solidly in 2021, but also still hoping there is a chance to move that up a year.
Post by: nazar on January 29, 2017, 12:00:19 PM
Hi 2021 cohort, how are we all doing? Has 2016 been good to you?
2016 was great. I finally got DH to fully buy into FIRE, and even quantified for him specific values for the benefits I'd leave on the table if I FIRE earlier, and he agreed I should move my date up if we make the stretch goals, so maybe I'll be joining the group for a different year if things go well. I'm a bit nervous about a post ACA environment with this presidency, but am hopeful that "repeal and replace" is successful. Wait and see.
2017 goals: Visit Italy, replace house doors, review asset allocations, build upon successes and failures from the edibles garden.
Post by: dreams_and_discoveries on January 29, 2017, 02:27:59 PM
Post by: Chaplin on January 29, 2017, 11:13:08 PM
Great to hear the updates, looks like a good few of us are eyeing up 2020...
2016 was ridiculously good for our net worth: a $255K (Canadian) increase made up of ($90K financial, $155K home equity). I changed jobs which should have been a big improvement on the happiness front, but it's been a bit of bust so far because of very long hours. The much shorter commute is good though.
The best thing about 2016, though, was achieving clarity on the need to get much more aggressive with our expenses to meet our 2021 FIRE target. Now that we're doing that, I'm wondering if we could squeak into 2020, or do something completely different like downshift significantly by going part time at the expense of delaying an actual FIRE date.
Post by: WildJager on February 04, 2017, 02:38:03 PM
Update on goals for 2016[/quote
In blue below
-Getting my private pilot license, for post fire occupation.
Still working on this, still have plenty of time and I really enjoy doing it.
Just in case you weren't tracking it, to make money as a pilot you'll need a commercial license. It's not really a huge deal to get one (no where near getting an ATP for the big rigs) but it's a requirement.
Post by: WildJager on February 04, 2017, 02:45:00 PM
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
WildJager (at 35) May 2021
Currently at 37x annual expenses. The only reason I haven't pulled the trigger is because I legally can't (military commitment). Anticipating retiring with around 60x annual expenses when they'll finally let us go. Can't say it's a bad problem to have forcing our stash to grow, but the limited agency can be exhausting some days.
We plan on doing small side gigs post retirement, so it's fairly safe to say that our stash could survive the market imploding on itself effectively.
Post by: dreams_and_discoveries on February 05, 2017, 04:53:46 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
WildJager (at 35) May 2021
Currently at 37x annual expenses. The only reason I haven't pulled the trigger is because I legally can't (military commitment). Anticipating retiring with around 60x annual expenses when they'll finally let us go. Can't say it's a bad problem to have forcing our stash to grow, but the limited agency can be exhausting some days.
We plan on doing small side gigs post retirement, so it's fairly safe to say that our stash could survive the market imploding on itself effectively.
That's impressive WildJager, how are you planning to spend your retirement?
Post by: WildJager on February 05, 2017, 04:05:12 PM
We both want to do some side gigs, more to do things we love than for money. I want to teach flying to keep up in the air (I'm a "pilot" now, but in the military that ends up practically becoming a side gig in itself as you gain rank). I also love cooking, and I'm thinking of getting my feet wet trying the chef thing somewhere. My wife is very artistic, so she'll probably focus on that (actually sell some work instead of just donating it) and she's expressed an interest in becoming a tattoo artist.
Many other options have been thrown out too. The general idea is that we eventually want to buy some land and build a house. In that vein, I plan on picking up several trade jobs over the years to learn housing skills to a more competent level. Plumbing, electrical, general building, etc. I've done some volunteering for habituate for humanity for that same reason (trade my time for learning some skills), but after we retire that will be much more of a focus.
So, with that rambling all done, basically the point is we have many paths we want to pursue, and lots of time to do it. In the end though, this will probably amount to my family saying, "You quit your career to become a burger flipper? WTF is wrong with you!"
Eh, only so much you can do. ;)
Post by: dreams_and_discoveries on February 07, 2017, 01:32:42 AM
I'm at 4 years to go exactly now, and it feels like FIRE is getting closer and seems almost more real, if you know what I mean?
Post by: Chaplin on February 07, 2017, 07:21:50 AM
So, with that rambling all done, basically the point is we have many paths we want to pursue, and lots of time to do it. In the end though, this will probably amount to my family saying, "You quit your career to become a burger flipper? WTF is wrong with you!"
All kinds of great stuff in your list! I'll probably get the above at some point since I'm sure I'll sling lattes for a few months just to try it out.
Post by: Much Fishing to Do on February 22, 2017, 06:13:58 PM
Post by: stashyMel on March 06, 2017, 04:44:49 PM
Post by: Greenback Reproduction Specialist on April 03, 2017, 04:28:43 PM
OK, I've got to make myself pick a year, so I'm joining 2021.... I should be around a decent safe withdraw rate of pretty comfortable for us expenses, and I'll still be 49 (if I don't beat 50 in this crowd it seems like I'm a slacker....Congrats!!!! We are the best year after all ;)
Post by: CrazyIT on June 27, 2017, 01:39:26 PM
Currently 53: Divorced 5 years ago which set me back a bit. I am FI but want to build a house when I fire so I am trying to add cash to the stash for the next 4 years.
-Current house is paid for and is a duplex so half is rented out. Own one other Duplex that's also rented (and paid for)
-Kids done with college
-$650k in 401k\IRA (maxing out 401K each year)
-$230K in cash ( I know thats to much but want to build the house with cash. In Ally account earning 1.05%)
Plan to subdivide my property and build the house then rent both sides of my primary residence (duplex)
Hope to do as much work on the house as my talents allow me. Then plan to pick up an RV and travel around the US for 6 months or so with the GF. She seems to be on board with the FIRE date too.
With my rental income I should not have to tap my retirement income much. I struggle factoring those into any FIRE calculators.
Post by: dreams_and_discoveries on June 28, 2017, 12:25:45 AM
Post by: sisto on July 13, 2017, 06:29:02 PM
Post by: MarcherLady on July 16, 2017, 06:20:14 AM
What makes the miscalculation even more annoying is that I successfully applied that logic to Hub's pension, but forgot to apply it to my own.
Post by: dreams_and_discoveries on July 16, 2017, 01:55:01 PM
And 2021 isn't too shoddy a year to be hanging around in....
Post by: Unique User on July 17, 2017, 05:42:42 AM
Post by: sisto on July 17, 2017, 12:27:32 PM
Hi, sisto, all is well with me, although I found an embarrassing error in my FIREsheet this week. I have several company pensions, including one at my current job. The payout won't be high, they are forecasting around 3k pa when I retire at 65. Have you all spotted the 'deliberate' mistake? £3k pa in ~20 years time is forecast on the assumption that I and the company will be making contributions to that account for the next 20 years. That is not the plan. There is no way in hell that account will pay out £3k pa if contributions stop in <3 years time. :-( Luckily that pension was a tiny proportion of our planned income. I've done a basic re-forecast and am projecting it will pay out £800 pa (I think that is suitably realistic) and that has moved the date we hit our 'number' by about 6 months to December 2020. I'm hoping that the layer upon layer of pessimistic estimation of growth rates and spending rates that I've baked into the plan will mean that Oct 2020 is still feasible... time will tell as my forecasts become historic values. I might be back in the '21 club after all!Ouch, sorry to hear that, but glad you found it now. :)
What makes the miscalculation even more annoying is that I successfully applied that logic to Hub's pension, but forgot to apply it to my own.
It amazes me how many people here in the US use their estimates from Social Security for how much they'll get monthly. It very clearly states that the estimate is based on you continuing to make the exact same amount of money every year until you retire with the key that when you retire is one of the options in your estimate that is 62, 67, or 70. So you will A, likely make more money each year and B, you are going to retire early so you have to factor in $0 for the years you don't work or at least know your 30 year window. It's sad because many people will be getting way less than they think.
Post by: Wadiman on August 25, 2017, 09:02:02 PM
Still looks like 2021 - a few weeks less than 4 years to go for us.
Savings are on track but returns haven't been fantastic of late.
One of the big things I did a few months back was to establish what in known in Australia as a Self Managed Super Fund (SMSF). This provides you with full control over what types of investments you make for retirement. As a result, I've now diversified to include peer-to-peer lending and unlisted property trusts (not generally available if you don't have a SMSF). The peer-to-peer lending is providing ongoing returns of circa 8% which is pretty good in this market I think. Of course I have the usual core holdings of Index funds and also some specific shares.
One the big kickers to the stash that will be due close to the target FIRE date is the net proceeds from the sale of my current home (HCOL area) and purchase of a lower cost home (LowerCOL area). With any luck if both markets keep growing at around the same rate I'll rake in about $500k. If the HCOL property grows faster then I may even be able to bring forward FIRE.
With this in mind I have started doing road trips to develop a good shortlist of areas. Have been to three/four areas thus far so should be able to decide within a year.
Re progress with my goals - doing well in most areas except for fitness. I've good good cardio fitness from riding the bike into work daily but my upper body strength is diminishing - best to do something about that!
Keep at it guys and gals!
Post by: nazar on August 26, 2017, 10:11:20 AM
Project 1 is "Declutter" and start to streamline and make space in the place I will spend more of my time in after FIRE.
Project 2 is "Exterior" as it will be the best time of year to work outside. This will cover changing from decorative to edibles in some of the garden space, and fixing outside home issues, among other things. If it is outside the house, it is in scope.
I know these sound like things one could accomplish in less time, but I want to be mindful and make meaningful changes in each project. A broad scope and planning should allow for some real accomplishments without crazy deadline pressures, and more importantly, distract from the obsessive march to FIRE.
Post by: dreams_and_discoveries on August 26, 2017, 01:12:24 PM
With 1405 Days until my "No later than" date, and having returned to work after a great vacation, I am chomping at the bit to FIRE already. To make this end stretch more palatable, I've decided to break the remaining time into 14 one hundred day projects, and at the end of each, take a checkpoint and decide if I am ready or I move to the next project. My first and second projects have been chosen since I am certain I'll need to keep working at least that long.
Project 1 is "Declutter" and start to streamline and make space in the place I will spend more of my time in after FIRE.
Project 2 is "Exterior" as it will be the best time of year to work outside. This will cover changing from decorative to edibles in some of the garden space, and fixing outside home issues, among other things. If it is outside the house, it is in scope.
I know these sound like things one could accomplish in less time, but I want to be mindful and make meaningful changes in each project. A broad scope and planning should allow for some real accomplishments without crazy deadline pressures, and more importantly, distract from the obsessive march to FIRE.
What a great idea, I love the idea of 100 day projects, and I might just copy you in that...
Post by: Wadiman on August 26, 2017, 02:49:59 PM
Post by: MarcherLady on August 27, 2017, 01:48:05 AM
Post by: nazar on August 27, 2017, 08:36:53 AM
Post by: MarcherLady on August 27, 2017, 09:57:40 AM
Post by: nazar on September 01, 2017, 05:03:48 PM
Paper: Documents, user manuals, receipts, bills, taxes, auto service records, shredding back log. I keep way too much past the point I should.
Pantry: Expired staples, organization improvements, use or toss various kitchen gadgets
Data: archive old stuff from old computers, clear out old software, update firmware on things I use, transfer data from old formats (floppy discs and CD-ROm)
Closets: Clear out things I don't wear or that don't fit properly
Bookcases: Read, reference or donate
Stuff (everything else) Does it have a use and a place? If not, liquidate.
For those that are familiar with Aglie project management, I'll be breaking this effort into 2 week sprints. I have set a small budget of $300 USD since the primary purpose is to rid myself of things, but some items may need to be replaced. Ideally, the funds will be offset by the liquidate phase when things go on eBay or Craigslist.
My postmortem will be the 2nd week in December. Wish me luck!
Post by: dreams_and_discoveries on September 02, 2017, 04:37:57 AM
But I'd challenge why you need to spend money, surely if you don't use an item and consider it clutter it doesn't need replaced? You can borrow one if you need in the future? Or make do without?
Post by: nazar on September 02, 2017, 08:23:17 AM
Post by: MarcherLady on September 03, 2017, 05:35:28 AM
I've just gone through my half of one wardrobe and weeded a bag of stuff to donate, this afternoon I'll do the other half.
Post by: Unique User on September 07, 2017, 05:38:09 AM
Post by: Levin on November 04, 2017, 02:21:42 PM
I'm hoping that participating here will keep me motivated and make the next few years less of a grind! Reading the forum has been a great source of motivation thus far.
I'm currently a 33 year old lawyer in a big northeastern city spending 60-70 hours a week at the office. 200k invested as of Nov. 1 with an expensive mortgage, although I rent two rooms + basement so my housing costs are minimal. Once I hit FIRE and leave the city (forever) I'll be able to rent it for a slight income boost. If I keep my hours high over the next 3+ years, I should be able to average about 200k saved per year, depending on bonus and how the firm does.
My FIRE number is 800k invested. If the market doesn't take a huge drop (or drops and recovers) by spring 2021 and I work very hard, I should be able to make it. If things don't go as planned, I'll probably wait until early 2022 (after my 2021 bonus).
Post-FIRE I'd like to hike the Appalachian and Pacific Crest trails (in consecutive years) and then settle into hobby homesteading, writing, and family life (TBD).
My goals over the next 3+ years:
Relationship -- Find someone in this sea of consumerism who shares my outlook and also wants to flee city life (deadline: 2021)
Writing -- Research and write a short history of an interesting nearby area (I have a specific place in mind) (deadline: June 1, 2020)
Health -- Improve fitness level (maintain weight, lower 5k time, and build muscle) despite mostly sedentary lifestyle (throughout)
Good luck to everyone and their 2021 goals!
Post by: sisto on November 08, 2017, 05:28:50 PM
Hello everyone, posting for the first time on MMM and aspiring to join the 2021 cohort -- my target date is March 31, 2021 when I'll be 36.Welcome Levin and good luck reaching your goals! I'm still on track to reach my goal, but haven't decided if I'll do 2021 or not. I'm eligible to retire from my company with rule of 75 June 7, 2021 and on track with finances for that to work out. I just need to wait and see how things go and whether or not I'm ready when the time comes. I have few things bonus wise that might make me stick it out for almost a year extra and retire mid to late April after lots of bonuses and vesting occur. That will give me an extra cushion to allow for more travel and might be a good pay off. I've been spending more on travel the last few years already and have enjoyed it.
I'm hoping that participating here will keep me motivated and make the next few years less of a grind! Reading the forum has been a great source of motivation thus far.
I'm currently a 33 year old lawyer in a big northeastern city spending 60-70 hours a week at the office. 200k invested as of Nov. 1 with an expensive mortgage, although I rent two rooms + basement so my housing costs are minimal. Once I hit FIRE and leave the city (forever) I'll be able to rent it for a slight income boost. If I keep my hours high over the next 3+ years, I should be able to average about 200k saved per year, depending on bonus and how the firm does.
My FIRE number is 800k invested. If the market doesn't take a huge drop (or drops and recovers) by spring 2021 and I work very hard, I should be able to make it. If things don't go as planned, I'll probably wait until early 2022 (after my 2021 bonus).
Post-FIRE I'd like to hike the Appalachian and Pacific Crest trails (in consecutive years) and then settle into hobby homesteading, writing, and family life (TBD).
My goals over the next 3+ years:
Relationship -- Find someone in this sea of consumerism who shares my outlook and also wants to flee city life (deadline: 2021)
Writing -- Research and write a short history of an interesting nearby area (I have a specific place in mind) (deadline: June 1, 2020)
Health -- Improve fitness level (maintain weight, lower 5k time, and build muscle) despite mostly sedentary lifestyle (throughout)
Good luck to everyone and their 2021 goals!
Post by: dreams_and_discoveries on November 08, 2017, 11:47:55 PM
Hello everyone, posting for the first time on MMM and aspiring to join the 2021 cohort -- my target date is March 31, 2021 when I'll be 36.
I'm hoping that participating here will keep me motivated and make the next few years less of a grind! Reading the forum has been a great source of motivation thus far.
I'm currently a 33 year old lawyer in a big northeastern city spending 60-70 hours a week at the office. 200k invested as of Nov. 1 with an expensive mortgage, although I rent two rooms + basement so my housing costs are minimal. Once I hit FIRE and leave the city (forever) I'll be able to rent it for a slight income boost. If I keep my hours high over the next 3+ years, I should be able to average about 200k saved per year, depending on bonus and how the firm does.
My FIRE number is 800k invested. If the market doesn't take a huge drop (or drops and recovers) by spring 2021 and I work very hard, I should be able to make it. If things don't go as planned, I'll probably wait until early 2022 (after my 2021 bonus).
Post-FIRE I'd like to hike the Appalachian and Pacific Crest trails (in consecutive years) and then settle into hobby homesteading, writing, and family life (TBD).
My goals over the next 3+ years:
Relationship -- Find someone in this sea of consumerism who shares my outlook and also wants to flee city life (deadline: 2021)
Writing -- Research and write a short history of an interesting nearby area (I have a specific place in mind) (deadline: June 1, 2020)
Health -- Improve fitness level (maintain weight, lower 5k time, and build muscle) despite mostly sedentary lifestyle (throughout)
Good luck to everyone and their 2021 goals!
That sounds like a great plan Levin - those hours sound brutal, but knowing they are only for another 3 -4 years makes it bearable.
I also kinda fancy an attempt on the long distance trails, not sure how realistic it is not being American thus putting a harsh 6 month visa time limit on it. I'm going to start doing more UK long distance trails, like week long ones, and see how I get on.
Post by: Sherman on November 11, 2017, 06:52:58 AM
That sounds like a great plan Levin - those hours sound brutal, but knowing they are only for another 3 -4 years makes it bearable.
I also kinda fancy an attempt on the long distance trails, not sure how realistic it is not being American thus putting a harsh 6 month visa time limit on it. I'm going to start doing more UK long distance trails, like week long ones, and see how I get on.
You could try something like the Camino de Santiago in Spain too?
Post by: dreams_and_discoveries on November 11, 2017, 07:44:34 AM
That sounds like a great plan Levin - those hours sound brutal, but knowing they are only for another 3 -4 years makes it bearable.
I also kinda fancy an attempt on the long distance trails, not sure how realistic it is not being American thus putting a harsh 6 month visa time limit on it. I'm going to start doing more UK long distance trails, like week long ones, and see how I get on.
You could try something like the Camino de Santiago in Spain too?
Great idea it also looks fun (fingers crossed we don't get stuck with any visa restrictions post brexit!).
Post by: ACyclist on November 18, 2017, 08:41:53 PM
Have to figure out finances more.
Post by: MarcherLady on November 20, 2017, 12:22:01 PM
Post by: dreams_and_discoveries on November 21, 2017, 12:43:48 AM
Post by: Greenback Reproduction Specialist on November 21, 2017, 08:45:52 AM
I ran numbers last night and it looks like we are still on track to FIRE Sept 2021 : )
Post by: ACyclist on November 23, 2017, 07:31:19 AM
The insurance is the sticky part. We may need to work part time just to help pay for a policy and co-pays.
Post by: Peter Parker on November 23, 2017, 08:01:35 AM
Both Mrs. Parker and I plan to hang it up July 12, 2021.
We've got some deciding to do prior to that date--specifically how to take Mrs. Parker's retirement (lump sum versus pension). And we've also got to get our estate/retirement funding plan crap together. But I wanted to get my name on the list to hold me accountable.....
We are basically FI now, but for a lot of reasons 7/12/2021 makes the most sense....We both love our jobs and we get a lot of intrinsic rewards for doing them, but we need to get out of our comfort zones and explore other parts of our lives--and if we don't hang it up, we may never get the chance to do it. We are in. Keep my feet to the fire!
Post by: nazar on December 09, 2017, 06:24:54 PM
Well, a week and change into project 1: Declutter became project 1: Hurricane Irma. Pre storm preparation, then post storm recovery. A tree fell on my car and it spent 6 weeks at a garage trying to get all the needed parts. Same tree took out a good portion of my fence. The immediate post storm period is spent clearing as much debris as possible while bulk pickup is done regularly, and finding supplies for repairs. De-clutter is on hold for project 3 and I'll move into Project 2: Exterior is next since the weather is getting agreeable. Exterior will call for removal of nuisance plants, planting edibles, replacing lost items from the storm, minor repairs to structure that were needed before the storm, but certainly need to be done now.
Post by: ixtap on January 11, 2018, 12:26:38 PM
Being largely invested in stocks, 2017 was very good to us. We are trying to make some cuts in order to live under our projected retirement budget. That's not easy when rent goes up 10% next month. We do have a plan to move on, but it is dependent on receiving a waiver. We are doing some things to beef up our credibility for that so that we can submit the request next week.
We will likely hit our lowest number (25x the budget we guessed at a couple of years ago) this year, even with mediocre growth. That budget is still reasonable for our immediate plans, but we want flexibility to change those plans over time. From there to our ideal number (28x current budget) seems like such a long haul, but just 10% growth with our current savings gross would put us there by the end of 2020, so even slower growth with DH's regular raises should do the trick. Between bonuses and weather, we would still work through early 2021. Might as well have that excellent health care coverage through flu season.
Post by: sisto on January 11, 2018, 12:35:25 PM
Did everyone move out of this class? I keep seeing tons of updates from 2020 and 2022, but this group has been silent over the new year.I'm still here. I had dabbled with pushing mine out a bit for various reasons and potentially loosening up the travel budget in the meantime. I've been traveling more and still on track to meet my eligibility date for FIRE from MegaCorp. I can retire rule of 75 on June 7, 2021 and plan to do just that.
Being largely invested in stocks, 2017 was very good to us. We are trying to make some cuts in order to live under our projected retirement budget. That's not easy when rent goes up 10% next month. We do have a plan to move on, but it is dependent on receiving a waiver. We are doing some things to beef up our credibility for that so that we can submit the request next week.
We will likely hit our lowest number (25x the budget we guessed at a couple of years ago) this year, even with mediocre growth. That budget is still reasonable for our immediate plans, but we want flexibility to change those plans over time. From there to our ideal number (28x current budget) seems like such a long haul, but just 10% growth with our current savings gross would put us there by the end of 2020, so even slower growth with DH's regular raises should do the trick. Between bonuses and weather, we would still work through early 2021. Might as well have that excellent health care coverage through flu season.
Post by: dreams_and_discoveries on January 12, 2018, 01:17:55 AM
However it's all getting much closer, less than four full working years for everyone here - how does that feel?
Post by: Roots&Wings on January 12, 2018, 05:39:46 AM
Post by: MarcherLady on January 12, 2018, 05:54:00 AM
Is it starting to feel like a reality to you all yet? I don't think I've really got my head around what FIRE will look like for us beyond the first few weeks that will just feel like a long holiday.
Post by: Peter Parker on January 12, 2018, 08:51:35 AM
My Retirement Countdown App just went to 3 years, 5 months,4 weeks, 1 day 22 hours, 8 minutes....but who's counting?
Post by: FIRE Artist on January 17, 2018, 08:22:12 AM
Post by: Greenback Reproduction Specialist on January 17, 2018, 01:22:07 PM
As an update, we had a string of maintenance issues, taxes, state fees and medical expenses over the last couple months that pretty much depleted our safety net. So we are working to build that back up right now. Even though it sucks to see that account dwindle, it is an awesome feeling knowing that without that robust emergency fund we would have been sunk in debt. We are very grateful to have had the emergency fund, it is a big part of being financially solid and helped us stay the course.
Post by: ScreamingHeadGuy on January 25, 2018, 09:55:51 AM
Based on assumed market returns and contributions between now and then I should achieve my 3.5% SWR and have a loaded Roth pipeline to facilitate cutting the cord.
Post by: dougules on January 25, 2018, 11:40:24 AM
Post by: SimplyFinanciallyFree on March 01, 2018, 01:12:36 PM
Post by: ScreamingHeadGuy on March 02, 2018, 01:17:13 PM
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
WildJager (at 35) May 2021
ScreamingHeadGuy (at 42) June 4, 2021
I guess I should pick a date so here is my three-year-out estimate. This date should let me maximize contributions to my 401(k), Roth IRA, and HSA for the year...and end on a short week with holiday pay. I could financially pull the cord a few weeks earlier and RE at 41, but I really want that holiday pay for some sick, twisted reason. This will let me enjoy my daughter's summer vacation with her after she finishes first grade.
Of course I will probably get spring fever and head for the exit in March, despite this plan. This year's stupendous weather is already making me think these next few years could be mentally challenging.
Post by: frizzywhiskers on March 12, 2018, 08:44:48 PM
TARGET DATE: November 5, 2021 - the day I turn 50, and one day past my 30th anniversary at work! - yes I started at age 20 - I was a slow starter ;-)
Goals for the next few years are:
2018 - Mortgage Payoff
2018 - 61% Stash Saved
2019 - 72% Stash Saved
2020 - 85% Stash Saved
2021 - 100% Stash Achieved
The one wrinkle in this plan is my husbands job situation. He is currently enjoying a one year paid lay off from work and our future savings amount will be dependant on his new job situation in 2019.
Wishing everyone, including myself, great patience in this journey ahead! :-)
Post by: MarcherLady on March 13, 2018, 07:06:23 AM
Frizzywhiskers what a great name!
When do you plan to have your mortgage paid off? I know that topic is a divisive subject on the boards, but having our mortgage down to <£5k has been a hugs source of comfort to me!
Post by: Chaplin on March 13, 2018, 11:07:31 AM
TARGET DATE: November 5, 2021 - the day I turn 50, and one day past my 30th anniversary at work! - yes I started at age 20 - I was a slow starter ;-)
Pull it back by just one day and you can say you retired in your forties and on the 30th anniversary of starting work, unless you meant November 5 would be your first day of retirement. I'm not sure why but I think of the day you retire as your last day at work.
Post by: frizzywhiskers on March 13, 2018, 08:55:21 PM
TARGET DATE: November 5, 2021 - the day I turn 50, and one day past my 30th anniversary at work! - yes I started at age 20 - I was a slow starter ;-)
Pull it back by just one day and you can say you retired in your forties and on the 30th anniversary of starting work, unless you meant November 5 would be your first day of retirement. I'm not sure why but I think of the day you retire as your last day at work.
Yes! I like this plan! Much better to retire in my forties :-)
Post by: dougules on March 14, 2018, 10:42:13 AM
TARGET DATE: November 5, 2021 - the day I turn 50, and one day past my 30th anniversary at work! - yes I started at age 20 - I was a slow starter ;-)
Pull it back by just one day and you can say you retired in your forties and on the 30th anniversary of starting work, unless you meant November 5 would be your first day of retirement. I'm not sure why but I think of the day you retire as your last day at work.
Yes! I like this plan! Much better to retire in my forties :-)
I'll probably retire 2 days before my birthday so I can spend a day as actually retired at age X-1.
Post by: the_fixer on April 03, 2018, 08:25:20 AM
Looking forward to doing to following.
Slow travel with the wife spending 3-6 months at low cost locations where possible and travel around the US / Canada with our camper.
Surf
Sit on the beach / MT top and ponder often
Dive
Kayak / SUP
Hike maybe even an epic hike
MT bike
Sleep in
Volunteer as a coral farmer
Learn languages as we travel
Fish
Spend time with family
Get in better shape
Work in a dive shop for a little while to make friends with similar interests
Learn to sail and spend some time in the sea of Cortez or Florida / Bahamas
Post by: Greenback Reproduction Specialist on May 11, 2018, 07:33:33 AM
So the other day I started looking at where I am and where I will be come 2021, financially speaking. I found we are still on track to meet our goal financially, possibly better than expected, but we will see how the next few years play out.
Then I made a mistake, I started playing the "What if" game, and asked well "what if I just work 2 or 3 more years until our son graduates highschool"? I was pleasantly surprised at how much our stash would grow and our resulting cashflow thrown off from the stash. Then I made an even bigger mistake and looked at "What if I worked a few more years beyond that?" OMG! The numbers start to get crazy as compound interest kicks in to high gear! Its millionaire status in 5 short years beyond my original FIRE date! How crazy is that? Even as little as a few years back, never would I have thought we could reach that in such a short amount of time.
Am I the only one here starting to get OMY fever? I don't think I will go OMY, but the draw is very tempting.
Post by: BoonDogle on May 11, 2018, 09:25:45 AM
Wow this thread fell down to page 4!! We need a little more activity around here, I mean we are ~7mo away from being only 2yrs to 2021! We are gonna be out of the bull pen and up on deck very soon!
So the other day I started looking at where I am and where I will be come 2021, financially speaking. I found we are still on track to meet our goal financially, possibly better than expected, but we will see how the next few years play out.
Then I made a mistake, I started playing the "What if" game, and asked well "what if I just work 2 or 3 more years until our son graduates highschool"? I was pleasantly surprised at how much our stash would grow and our resulting cashflow thrown off from the stash. Then I made an even bigger mistake and looked at "What if I worked a few more years beyond that?" OMG! The numbers start to get crazy as compound interest kicks in to high gear! Its millionaire status in 5 short years beyond my original FIRE date! How crazy is that? Even as little as a few years back, never would I have thought we could reach that in such a short amount of time.
Am I the only one here starting to get OMY fever? I don't think I will go OMY, but the draw is very tempting.
You're definitely not the only one. I have a couple of spreadsheets - one for 2021 and one for 2022. I am much more comfortable with 2022, however with the stress levels that I feel right now, there is no way I am going that long. I won't rule out using FIRE as a bargaining tool to unload some of the stress and work hours and maybe keep going for a little while until I am no longer enjoying that role.
Post by: ScreamingHeadGuy on May 12, 2018, 01:44:58 PM
We shall see how I feel about this in three years. OMG only three years.
Post by: Wadiman on May 13, 2018, 01:00:59 AM
The big thing i am struggling with atm is our planned move from a capital city to a regional location - this is a big part of the stash generation strategy - we plan to sell and then buy again in the new location with a $400k (hopefully) benefit. We are still trying to work out where the new location is - that will keep us busy for the next two years! The big uncertainty with this strategy is the relative growth/decline in each market.
Post by: the_fixer on May 14, 2018, 01:50:26 PM
I have a bunch of different calculations from 2020 - 2023 and looking at the number it is tempting to OMY especially when you are making really good money.
I am going to try my best to stick to it barring anything crazy happening or our plans changing I think I will have the fortitude to pull it off but it will be scary to give up the benefits and pay.
Sent from my Pixel 2 XL using Tapatalk
Post by: MarcherLady on May 14, 2018, 05:28:00 PM
Post by: damo on May 17, 2018, 11:43:44 PM
Post by: Wadiman on May 18, 2018, 10:11:39 PM
Hopefully there won't be too many nasty taxation changes between now and then!
Post by: FIRE Artist on May 19, 2018, 06:58:51 AM
Post by: CrazyIT on May 22, 2018, 12:33:58 PM
Company is not doing to well and its starting to reflect on the employees including me. No bonus last calendar year didn't help my attitude for sure.
It's hard being FI and sticking it out for OMY (well really over 2 more) for no good reason besides having a bit more buffer and the GF is planning to same so we can travel together.
Post by: ixtap on May 28, 2018, 09:12:17 PM
My husband has expressly told his parents that he plans on going on sabbatical in three years. I think it was a great term, as they can't quite get their heads around the idea of their son retiring in his 30s, given that they can't quite get their heads around living comfortably on our current budget.
Post by: nazar on June 28, 2018, 08:03:48 AM
Post by: the_fixer on June 28, 2018, 08:35:11 AM
we are still on target and on the path to exceed the target I set for investing this year.
Wife is awaiting a job offer that is for her dream job and will likely make slightly less due to not getting OT but quality of life will greatly improve for her and I think we should still be able to make our target's with a very little belt tightening.
When my wife presented the job opportunity to me I think she was expecting me to ask her to stick it out at her current position. I did not even have to think about it and told her to go for it that is the reason we have been working hard and saving to allow us to be in a position to do what we want when we want.
Suppose that made having FU money real for the first time since we started this journey and it felt amazing.
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Post by: Arbitrage on July 16, 2018, 08:12:38 AM
That means trimming more expenses, getting more income, or otherwise changing the plans. Unfortunately, DW also wants to re-do the kitchen toward the end of this year (thankfully talked her out of a full remodel with walls getting knocked down and plumbing relocated, but still going to be way more money than I want to spend), and has made noises as to how she'd like more coordinated furniture/interior decoration. We're generally pretty aligned in our frugality, but I've certainly leapfrogged her recently.
Anyhow, 2021 is now the goal. Hopefully we can achieve it by hook or by crook.
Post by: sisto on July 16, 2018, 09:19:25 AM
Going through OLY syndrome - previously posted on 2023 and 2022, but now DW informs me that she would really prefer that our eldest be still in elementary school before moving to FIRE (a plan that she's still not completely sold on). That moves the date to summer 2021 at the latest. I love the sound of cutting it down to 3 more years - really, I don't even want to go to work tomorrow - but I'm not sure our financial plans support that date without a lot of luck.Congrats on OLY'ing yourself into our cohort! My drop dead date is June 7, 2021, but I've been really working on pulling that date in though. Really hoping to have some good luck and making it in 2019.
That means trimming more expenses, getting more income, or otherwise changing the plans. Unfortunately, DW also wants to re-do the kitchen toward the end of this year (thankfully talked her out of a full remodel with walls getting knocked down and plumbing relocated, but still going to be way more money than I want to spend), and has made noises as to how she'd like more coordinated furniture/interior decoration. We're generally pretty aligned in our frugality, but I've certainly leapfrogged her recently.
Anyhow, 2021 is now the goal. Hopefully we can achieve it by hook or by crook.
Post by: Ladychips on July 16, 2018, 11:23:20 AM
I have a lot going on right now that makes it silly really to think about what year I'm going...but I am obsessing on 2021.
Post by: frugalecon on July 25, 2018, 06:18:25 PM
Was telling someone recently about the feeling of freedom I have felt at certain points in my life (e.g. long road trips), and realized that is what I want to feel every day.
Post by: sisto on July 26, 2018, 11:15:12 AM
Federal employee here...will hit MRA in 2021...1019 days, to be exact. (727 weekdays!) Am already FI in some sense, in some place, starting to feel like I will have a big decision to make in a few years.I like the idea of looking at it by number of days left. I think once you get below 1000 it should start feeling amazing.
Was telling someone recently about the feeling of freedom I have felt at certain points in my life (e.g. long road trips), and realized that is what I want to feel every day.
Post by: mld on July 27, 2018, 11:28:12 AM
Arbitrage! My brother! I was just coming here to ask if it is acceptable to be in two fire groups. I NEED to stay until 2022. But omg, I don't want to. I CAN go in 2021 from an eligibility standpoint, but really need to work one more year after that to make things much more comfortable financially. But right now, I just don't see making it that last year.
I have a lot going on right now that makes it silly really to think about what year I'm going...but I am obsessing on 2021.
I've been lurking here for similar reasons... 2025 is our planned date, however 2021 would be my absolute dream while 2023 is my mental age goal since I would be turning 35 that year lol.
The plan is currently to start taking 3 month sabbaticals starting June 2021 to spend summers with the kiddoes when they are on school break. I'm having trouble seeing myself go back to work after an entire summer off though lol just returning from a couple of weeks vacation now is brutal! My mind is desperate to find ways to escape now so I imagine it will be even harder with more FU money.
Anyways I guess it's a good problem to have, so I decided to at least post to follow this thread and all of your progress to keep my dream of 2021 alive. It's a good way to motivate me to massively cut our spending and get creative to try and shed 4ish years off our plan.
Post by: frugalecon on July 27, 2018, 12:01:25 PM
Federal employee here...will hit MRA in 2021...1019 days, to be exact. (727 weekdays!) Am already FI in some sense, in some place, starting to feel like I will have a big decision to make in a few years.I like the idea of looking at it by number of days left. I think once you get below 1000 it should start feeling amazing.
Was telling someone recently about the feeling of freedom I have felt at certain points in my life (e.g. long road trips), and realized that is what I want to feel every day.
It's demented, but I have a different counter that tracks projected remaining days I will actually be at work. For the 2021 date (which is aggressive for me, but hey, a guy can dream), that is down to 610 actual working days.
Post by: boyband on July 29, 2018, 03:14:09 PM
"Before Enlightenment chop wood carry water, after enlightenment chop wood carry water"
For us not a lot will change - I've just set up my own company and love my field. My wife will probably retire and find something else to do, but that's fine.
Financially we are about 70% of the way there, to an amount that will give us a comfortable middle class lifestyle and the house paid off.
Interested to see how all our paths go on this!
Post by: frugalecon on August 13, 2018, 07:25:38 AM
Post by: Ladychips on August 13, 2018, 10:09:30 AM
Post by: sisto on August 14, 2018, 10:59:16 AM
1000 calendar days until I hit my MRA, for all you Feds out there. Seems like a milestone.Can you share your tracker? Is it as simple as putting in an end date and it calculates for you?
Post by: frugalecon on August 14, 2018, 12:58:53 PM
1000 calendar days until I hit my MRA, for all you Feds out there. Seems like a milestone.Can you share your tracker? Is it as simple as putting in an end date and it calculates for you?
I know the date of my MRA, and then if you difference two dates in Excel, the output is the number of days.
Post by: sisto on August 15, 2018, 09:37:02 AM
Post by: ScreamingHeadGuy on September 05, 2018, 02:47:03 PM
Nice to see we are at 21 members to our posse with 28 months until our year comes around.
If you are listed as TBD please throw out a guess so the table looks less blank.
Name. Age (self-reported) FIRE Date
MarcherLady (at 49) October 10, 2020
dreams_and_discoveries (just before 40) February
Chaplin (at 47ish) March 23
ScreamingHeadGuy (at 41) April
WildJager (at 35) May
FIREArtist. June 1
Sisto June 7
Wadiman. August
GBRS (at 36) Sept
damo. October
Frizzywhiskers. November 5
Accountant007 (at 48) December 23
Bownyboy (at 29) December 25
dougules (at 43) December 27
SassyG (at 54) TBD
Nazar TBD
the_fixer TBD
Arbitrage TBD
frugalecon TBD
Ladychips. (at 55). July 1
boyband TBD
CrazyIT TBD
Post by: Ladychips on September 05, 2018, 08:01:39 PM
IF I go in 2021, I'll go 7/1/21 at the age of 55.
Post by: Greenback Reproduction Specialist on September 06, 2018, 07:33:04 AM
How exciting to see my name on the list (but so much pressure too!). I'm really in 2022, but I just don't think I'll make it that long.
I'm not sure your situation, but I'm finding the closer the date gets, I'm not sure I can make it that long either. I mean we have a big stache(not huge), house is soooo close to being paid off, passive income is growing, etc. Its tough to not feel like we are already there, but in reality we still have just a little further to go. But I can finagle the numbers just right and show myself that we could stop right now. Then I have to remind myself how things might not come so easily when we pull the trigger and we need a bigger safety net. The responsible side continues to win... for now... but the other side wants to go buy a sailboat and sail the world right now.
Post by: sisto on September 06, 2018, 10:59:12 AM
1005 Total days left! I was thinking it would be really cool when it got below 1000, but I'm so close and not sure it will
716 Total after weekends are removed
685 Total after removing holidays
605 Total after removing vacation and sabbatical
That just seems crazy to me!
Post by: ScreamingHeadGuy on September 06, 2018, 02:21:59 PM
1. 2021 is a cool number.
2. OLY is good for your soul (can’t be proven, but I can prove it’s not bad).
2a. If you’re doing OMY this is a great time to put your foot down and say “Enough!”
3. You’ve posted in and/or read thread. That means there is some interest.
———
For myself, I am still pursuing a 29X stash. Current balance is 102% of our “lean” stash, which assumes we didn’t have our daycare or mortgage expenses (they’ll be gone 9-19 and 7-20, respectively). This amount is currently 85% of our desired stash level.
Based on my assumed rate of return (1% less than long term averages) and my planned rebalancing to bonds starting next year (which will be followed by a rising equity glide path from 2022 onward) the 100% desired stash level should be achieved in January of 2021. But I dont want to retire into the middle of winter, so I plan to pad a bit until April. This is already a pull-back from a few months ago when I was talking about June.
Post by: Peter Parker on September 06, 2018, 02:55:23 PM
I have changed my anticipated FIRE date and, so, I’ve updated our table (as a shameless bump to our thread).
Nice to see we are at 21 members to our posse with 28 months until our year comes around.
If you are listed as TBD please throw out a guess so the table looks less blank.
Name. Age (self-reported) FIRE Date
MarcherLady (at 49) October 10, 2020
dreams_and_discoveries (just before 40) February
Chaplin (at 47ish) March 23
ScreamingHeadGuy (at 41) April
WildJager (at 35) May
FIREArtist. June 1
Sisto June 7
Wadiman. August
GBRS (at 36) Sept
damo. October
Frizzywhiskers. November 5
Accountant007 (at 48) December 23
Bownyboy (at 29) December 25
dougules (at 43) December 27
SassyG (at 54) TBD
Nazar TBD
the_fixer TBD
Arbitrage TBD
frugalecon TBD
Ladychips. (at 55). July 1
boyband TBD
CrazyIT TBD
For God's sake get my name on this list! July 12, 2021!
Post by: ScreamingHeadGuy on September 07, 2018, 09:20:13 AM
Name. Age (self-reported) FIRE Date
MarcherLady (at 49) October 10, 2020
dreams_and_discoveries (just before 40) February
Chaplin (at 47ish) March 23
ScreamingHeadGuy (at 41) April
WildJager (at 35) May
FIREArtist June 1
Sisto June 7
Ladychips. (at 55) July 1
Peter Parker July 12
Wadiman. August
GBRS (at 36) Sept
damo. October
Frizzywhiskers. November 5
Accountant007 (at 48) December 23
Bownyboy (at 29) December 25
dougules (at 43) December 27
SassyG (at 54) TBD
Nazar TBD
the_fixer TBD
Arbitrage TBD
frugalecon TBD
boyband TBD
CrazyIT TBD
Post by: FIRE Artist on September 08, 2018, 04:14:38 PM
Post by: nazar on September 09, 2018, 09:33:49 AM
Post by: sisto on September 11, 2018, 08:57:21 AM
Post by: dougules on September 11, 2018, 10:28:01 AM
MarcherLady (at 49) October 10, 2020
dreams_and_discoveries (just before 40) February
Chaplin (at 47ish) March 23
ScreamingHeadGuy (at 41) April
WildJager (at 35) May
FIREArtist June 1
Sisto June 7
Ladychips. (at 55) July 1
Peter Parker July 12
Wadiman. August
GBRS (at 36) Sept
damo. October
Frizzywhiskers. November 5
Accountant007 (at 48) December 23
Bownyboy (at 29) December 25
dougules (at 43) December 27
SassyG (at 54) TBD
Nazar TBD
the_fixer TBD
Arbitrage TBD
frugalecon TBD
boyband TBD
CrazyIT TBD
dougules TMY 2023
I think I may have to drop out of this class. 2021 is looking a lot less likely for me as we refine our numbers. Who knows what will happen, though. I might be back depending on math and the markets.
Post by: sisto on September 11, 2018, 10:36:20 AM
Name. Age (self-reported) FIRE DateSorry to hear that, hopefully things will go your way and you can come back.
MarcherLady (at 49) October 10, 2020
dreams_and_discoveries (just before 40) February
Chaplin (at 47ish) March 23
ScreamingHeadGuy (at 41) April
WildJager (at 35) May
FIREArtist June 1
Sisto June 7
Ladychips. (at 55) July 1
Peter Parker July 12
Wadiman. August
GBRS (at 36) Sept
damo. October
Frizzywhiskers. November 5
Accountant007 (at 48) December 23
Bownyboy (at 29) December 25
dougules (at 43) December 27
SassyG (at 54) TBD
Nazar TBD
the_fixer TBD
Arbitrage TBD
frugalecon TBD
boyband TBD
CrazyIT TBD
dougules TMY 2023
I think I may have to drop out of this class. 2021 is looking a lot less likely for me as we refine our numbers. Who knows what will happen, though. I might be back depending on math and the markets.
Post by: Arbitrage on September 11, 2018, 10:49:57 AM
Post by: ScreamingHeadGuy on September 11, 2018, 12:41:52 PM
MarcherLady (at 49) October 10, 2020 OLY
dreams_and_discoveries (at 39) February
Chaplin (at 47ish) March 23
ScreamingHeadGuy (at 41) April
WildJager (at 35) May
FIREArtist (at 47) June 1
Sisto June 7
Ladychips. (at 55) July 1
Nazar July 1
Peter Parker July 12
Arbitrage. (At 41). August 1
Wadiman. August
GBRS (at 36) Sept
damo. October
Frizzywhiskers. November 5
Accountant007 (at 48) December 23
Bownyboy (at 29) December 25
dougules (at 43) December 27
SassyG (at 54) TBD
the_fixer TBD
frugalecon TBD
boyband TBD
CrazyIT TBD
dougules TMY 2023
Fill that chart!
Post by: the_fixer on September 23, 2018, 10:19:14 AM
Retirement age will be 49
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Post by: Money Badger on September 30, 2018, 08:03:57 PM
Post by: tipster350 on October 08, 2018, 09:41:43 AM
Post by: Matz_70 on October 14, 2018, 03:47:34 AM
Post by: the_fixer on October 15, 2018, 09:21:54 AM
Maybe it was the 14 - 16 hour days, incompetent help that keeps getting assigned to complex issues or just being setup for failure but it sure made it hard to stay.
On the plus side I was frustrated enough to call HR and ask them to verify my actual vesting date and found out that it is a full year earlier than I had thought.
So... 195 days from today until I am 100% vested in my retirement :)
Keeping my FIRE date where it is as i will still need to earn some money to be happy with my FIRE number.
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Post by: Ulysses Everett McGill on October 24, 2018, 12:36:39 PM
I have only recently learned of the FIRE movement, but for many years my wife and I have been applying the principals of living frugally and saving for a retirement in my mid-50's. I look forward to reading this board and participating as we all move towards our goals.
Post by: the_fixer on October 24, 2018, 12:57:12 PM
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Post by: ScreamingHeadGuy on October 24, 2018, 01:48:19 PM
MarcherLady 49 October 10, 2020 OLY
Matz_70 50 January 1
dreams_and_discoveries 39 February
Chaplin 47 March 23
ScreamingHeadGuy 41 April
WildJager 35. May
FIREArtist 47 June 1
Sisto 52 June 7
Ladychips. 55 July 1
Nazar July 1
Peter Parker July 12
Arbitrage 41 August 1
Wadiman August
GBRS 36 September
the_fixer 49 October1
damo October
Frizzywhiskers. November 5
Money Badger. 53 December 1
Accountant007 48 December 23
Bownyboy 29 December 25
dougules 43 December 27
Ulysses Everett McGill 55 December 31
SassyG 54 TBD
frugalecon TBD
boyband TBD
CrazyIT TBD
Tister350 60 TBD
dougules TMY 2023
The list has been updated. Come on folks, let us not be shy about filling those missing fields. Age and FIRE date are, after all, only numbers.
We’re at 26 for 2021 with just over 26 months to go.
I admit there are times at work when I open up my spreadsheet and calculate how many hours per week I would have to work at the corner gas station if I just hung it up today. But then I realize it’s only 30 months more for me and I determine I can gut it out a bit more.
Post by: sisto on October 25, 2018, 11:28:40 AM
Name. Age (self-reported) FIRE Date
MarcherLady 49 October 10, 2020 OLY
Matz_70 50 January 1
dreams_and_discoveries 39 February
Chaplin 47 March 23
ScreamingHeadGuy 41 April
WildJager 35. May
FIREArtist 47 June 1
Sisto June 7
Ladychips. 55 July 1
Nazar July 1
Peter Parker July 12
Arbitrage 41 August 1
Wadiman August
GBRS 36 September
the_fixer 49 October1
damo October
Frizzywhiskers. November 5
Money Badger. December 1
Accountant007 48 December 23
Bownyboy 29 December 25
dougules 43 December 27
Ulysses Everett McGill 55 December 31
SassyG 54 TBD
frugalecon TBD
boyband TBD
CrazyIT TBD
Tister350 60 TBD
dougules TMY 2023
The list has been updated. Come on folks, let us not be shy aborting filling those missing fields. Age and FIRE date are, after all, only numbers.
We’re at 26 for 2021 with just over 26 months to go.
I admit there are times at work when I open up my spreadsheet and calculate how many hours per week I would have to work at the corner gas station if I just hung it up today. But then I realize it’s only 30 months more for me and I determine I can gut it out a bit more.
I'll be 52 when I retire. Feel free to update that tidbit on mine. :)
I always used to say that no matter what I would strive to retire by 55 and then just work at McDonalds and later changed that to Walmart or Home Depot to get by if needed. Then I found MMM and pulled things in and shouldn't need to work at all.
Now to stay motivated I look at how many days I have left to retire, once it got below 1000 it felt great. Then remove weekends, holidays, and vacation and it becomes a cake walk.
Post by: Money Badger on November 05, 2018, 07:33:01 PM
Post by: sisto on November 06, 2018, 09:39:32 AM
Put Money Badger down as 50 today, 53 at FIRE date... Kind of surreal to realize that after 30+ years of a career, the next chapter of life is "pre-tirement" (hanging up the corporate shoes before getting "aged out" of hi-tech). Less than a cheap car loan to go... Then I plan to work at a cause that earns a little something in an environmental/outdoors/botanical field, but really is for a cool and social cause. There really a lot of endowed causes I'm finding in my area and network. And once you're in the non-profit community with corporate experience, it's pretty amazing what opens up as a lot of the circles cross in the community... "Good deeds done cheap"!I'm hoping to be aged out of tech on my terms. Fingers crossed for a nice voluntary separation package around my FIRE date. :)
Post by: Money Badger on November 06, 2018, 06:23:22 PM
I'm hoping to be aged out of tech on my terms. Fingers crossed for a nice voluntary separation package around my FIRE date. :)
Go for it and best of luck! Play the game, and never take a "counter offer" when the time comes to leave though... I've watched several senior "franchise player" people get reeled back in, only to be miserable for a few months until their replacement gets hired, then "BAM", one day their desk is emptied out and the only way to find them again is on LinkedIn messaging... Amazing how people with top educations and long careers end up being "disposed of" (usually for giving the wrong opinion to the wrong leader in power plays). And we wonder why there's a shortage in hi-tech... not much room for people in cut throat global competition with countries who are trying to rise out of poverty will work man years for nickels to win otherwise. Hang in there!
Post by: sisto on November 07, 2018, 08:23:14 AM
@Money Badger The only way I'll stay past my FIRE date is if they allow me to do part time and work on what I want. Then I would just be doing it for the benefits to allow the retirement money to really compound and to make sure I'm extra safe against sequence of returns risk. I would also only do it for 3 more years max in order to be 55 and take out my 401K money easier instead of having to do a rollover and SEPP or ROTH ladder. It's definitely become more clear the last few years that I'm just a cog in the wheel or just a number. You and I are in the same boat, I'm 49 and will turn 50 early next year. I'm so sick of the power plays and playing the game. I've been fortunate to be in a place where I can avoid lots of it. I see it happening, but don't have to be part of it. Then I also have enough FU money to not care and speak my mind when asked. I'm definitely hanging in, but ready to hang it up. The next 2.5 years is going to be long and brutal so I'm hoping to plan some great vacations to get me through it. To FIRE!!!I'm hoping to be aged out of tech on my terms. Fingers crossed for a nice voluntary separation package around my FIRE date. :)
Go for it and best of luck! Play the game, and never take a "counter offer" when the time comes to leave though... I've watched several senior "franchise player" people get reeled back in, only to be miserable for a few months until their replacement gets hired, then "BAM", one day their desk is emptied out and the only way to find them again is on LinkedIn messaging... Amazing how people with top educations and long careers end up being "disposed of" (usually for giving the wrong opinion to the wrong leader in power plays). And we wonder why there's a shortage in hi-tech... not much room for people in cut throat global competition with countries who are trying to rise out of poverty will work man years for nickels to win otherwise. Hang in there!
Post by: effigy98 on November 07, 2018, 01:28:15 PM
Was a good year in the tech industry.
- Paid off house.
- at 900k investment accounts
- College fund and HSA funded now 20k each.
- Still in a very boring job but got a 90k/yr TC bump this year with no added responsibility or extra hours (thanks supply and demand).
- Rental down to 70k owed
PHASE 2 GOALS (2019 - 2021) (FI)
- 1m investment accounts
- 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 and get expenses to good levels for ACA subsidies.
December 2021, retire (44yr)!
Post by: effigy98 on November 07, 2018, 01:35:01 PM
Put Money Badger down as 50 today, 53 at FIRE date... Kind of surreal to realize that after 30+ years of a career, the next chapter of life is "pre-tirement" (hanging up the corporate shoes before getting "aged out" of hi-tech). Less than a cheap car loan to go... Then I plan to work at a cause that earns a little something in an environmental/outdoors/botanical field, but really is for a cool and social cause. There really a lot of endowed causes I'm finding in my area and network. And once you're in the non-profit community with corporate experience, it's pretty amazing what opens up as a lot of the circles cross in the community... "Good deeds done cheap"!I'm hoping to be aged out of tech on my terms. Fingers crossed for a nice voluntary separation package around my FIRE date. :)
This is my plan too. The severance packages are insane... Engineering your own layoff, should actually be kind of fun and an interesting experience.
Post by: frugalecon on November 21, 2018, 04:01:01 PM
1000 calendar days until I hit my MRA, for all you Feds out there. Seems like a milestone.
900 days now...who knows if I will bail then or just play the OMY game...guess it depends a little on financial market returns. But I think I could make it work in 2021 if I had to.
Post by: ScreamingHeadGuy on November 21, 2018, 06:00:22 PM
1000 calendar days until I hit my MRA, for all you Feds out there. Seems like a milestone.
900 days now...who knows if I will bail then or just play the OMY game...guess it depends a little on financial market returns. But I think I could make it work in 2021 if I had to.
@frugalecon Should I update the table to anticipate a May date for you? I do like to fill that chart.
Post by: frugalecon on November 23, 2018, 06:52:10 AM
1000 calendar days until I hit my MRA, for all you Feds out there. Seems like a milestone.
900 days now...who knows if I will bail then or just play the OMY game...guess it depends a little on financial market returns. But I think I could make it work in 2021 if I had to.
@frugalecon Should I update the table to anticipate a May date for you? I do like to fill that chart.
@ScreamingHeadGuy , I will let you know if/when it seems right to add me to a table. I think that it is a bit premature.
Post by: 12321 on November 29, 2018, 10:14:12 AM
Post by: HumanAfterAll on December 04, 2018, 11:25:56 PM
After a year and a half of crisis mode at work (aerospace), I needed some light at the end of the tunnel, so I picked a date. Several factors aligned: 2021 will be my 15 year anniversary at work; stock will be fully vested (probably worth $0, but who knows); and my daughter starts school that fall, so daycare costs will go down. My wife is back to full-time work, so now our savings rate is back up to 60% and we are on track to hit our target sometime in 2021.
My work has been increasingly stressful over the last 18 months. I said yes to a big opportunity, and was committed and stretched and worked nights and weekends and traveled. Said yes to extra opportunities that involve sonic booms :) but also travel away from my preschool daughter :( Then there was a re-org, and my job changed again to include personnel management, which was new to me. As an introverted engineer, my ideal day would be 80% focused, creative, analytical work. Instead now I wake up at 5AM so I can get 1 hour of uninterrupted time in the office before meetings and email storms begin each day.
My team is great, but it kills me when I can't get them the support they need. I waited out a leadership change to see if demands would become more realistic; negative. I tried three ways to convey that expectations were unrealistic and we weren't going to hit our targets based on bottom-up data and recovery plans, that we needed relief and 1-2 clear priorities instead of 5, but was told to deliver all 5 on time.
I finally lost faith, didn't want to play the game. Magically, our company rolled out an internal mobility policy. No longer could my manager veto a transfer out of the program. So I started talking to other managers with open positions, gave my manager the heads-up, and he offered to let me define my role if I would stay. Now we are interviewing internal candidates to take over my current role. Soon I'll be out of the management game! I'm looking forward to enjoying the next two and a half years at work, to do real engineering again, to learn from great people, and to hopefully hop on some fun projects.
It feels strange to be a 'lame duck' while we find my replacement. Maybe more strange is saying no to increasing advancement and stepping off the ladder, but I know this was never my intended path. I know I need to dial back the stress to preserve my health, to have enough energy to be a great parent for my daughter and to be a great husband for my wife.
Setting a date and making this career change feel like the first two steps of the end game :)
Post by: MarcherLady on December 05, 2018, 12:41:13 AM
Post by: HumanAfterAll on December 05, 2018, 09:20:13 PM
Post by: ScreamingHeadGuy on December 06, 2018, 08:23:33 PM
MarcherLady 49 October 10, 2020 OLY
Matz_70 50 January 1
12321. January 23
dreams_and_discoveries 39 February
Chaplin 47 March 23
ScreamingHeadGuy 41 April
WildJager 35. May
FIREArtist 47 June 1
Sisto 52 June 7
YoungGranny. 31. June 30
HumanAfterAll. 44. June
Ladychips. 55 July 1
Nazar July 1
Peter Parker July 12
CarolinaGirl. 50. July
Arbitrage 43. August 1
Wadiman August
GBRS 36 September
the_fixer 49 October1
damo October
Boyband. 37. October
Frizzywhiskers. 50 November 5
Money Badger. 53 December 1
Accountant007 48 December 23
Bownyboy 29 December 25
dougules 43 December 27
Ulysses Everett McGill 55 December 31
SassyG 54 TBD
frugalecon TBD
boyband TBD
CrazyIT TBD
Tister350 60 TBD
dougules TMY 2023
Post by: frizzywhiskers on December 08, 2018, 08:50:19 AM
Post by: ScreamingHeadGuy on December 08, 2018, 03:46:33 PM
You could add in my age @ScreamingHeadGuy next time you update! My retirement date is my 50th bday in 2021!
I have updated the table. What an awesome birthday present to give yourself.
Post by: Matz_70 on December 12, 2018, 01:57:05 PM
I love the idea of feeling amazing about the number of days. 426 work days to go :)Federal employee here...will hit MRA in 2021...1019 days, to be exact. (727 weekdays!) Am already FI in some sense, in some place, starting to feel like I will have a big decision to make in a few years.I like the idea of looking at it by number of days left. I think once you get below 1000 it should start feeling amazing.
Was telling someone recently about the feeling of freedom I have felt at certain points in my life (e.g. long road trips), and realized that is what I want to feel every day.
Post by: Matz_70 on December 12, 2018, 02:13:54 PM
Name. Age (self-reported) FIRE Date
MarcherLady 49 October 10, 2020 OLY
Matz_70 50 January 1
12321. January 23
dreams_and_discoveries 39 February
Chaplin 47 March 23
ScreamingHeadGuy 41 April
WildJager 35. May
FIREArtist 47 June 1
Sisto 52 June 7
HumanAfterAll. 44. June
Ladychips. 55 July 1
Nazar July 1
Peter Parker July 12
Arbitrage 41 August 1
Wadiman August
GBRS 36 September
the_fixer 49 October1
damo October
Frizzywhiskers. 50 November 5
Money Badger. 53 December 1
Accountant007 48 December 23
Bownyboy 29 December 25
dougules 43 December 27
Ulysses Everett McGill 55 December 31
SassyG 54 TBD
frugalecon TBD
boyband TBD
CrazyIT TBD
Tister350 60 TBD
dougules TMY 2023
I find it interesting that our average age is 46.5, only 16.5 years after MMM but more than 20 years less of most government's ideas.
Post by: boyband on January 01, 2019, 01:55:52 PM
Figure I should post here. 2021 is an aggressive but not unreasonable goal for us to reach FI.
"Before Enlightenment chop wood carry water, after enlightenment chop wood carry water"
For us not a lot will change - I've just set up my own company and love my field. My wife will probably retire and find something else to do, but that's fine.
Financially we are about 70% of the way there, to an amount that will give us a comfortable middle class lifestyle and the house paid off.
Interested to see how all our paths go on this!
For completeness and the table, 2021 October would be the planned date, for dates of 39/37 for wife & myself.
We're down a lot with the market going a bit nuts - we've only invested lately, so are down a lot. I'm not worried though - it will look after itself, the main thing is keeping my business going well.
Post by: Arbitrage on February 04, 2019, 02:11:08 PM
If you feel like updating, my age at the planned FIRE date in August will actually be 43, not 41 as listed. No big deal if not. There's still sooo much time to go and correct it.
Can you guess my mood?
I suppose that if every month were like January, I wouldn't have to wait until 2021! Then again, if every month were like December, FIRE 2021 would be a pipe dream. I'm going to hazard to say we'll be somewhere in the middle for average monthly performance.
Post by: ScreamingHeadGuy on February 04, 2019, 02:45:06 PM
Finances
2018 finished with my stache 6.6% below my target (assuming long term market returns). That was still 79.7% of my “FIRE number”.
January of this year almost made up for last year’s fourth quarter and the stache is now at 99.5% of the target. This puts the stache at 85.9% of my “FIRE number”. My trajectory still puts me on pace for 2nd quarter of 2021. Is it really only 27 months away?
Life
End of January was such a bunch of garbage weather. I like to be outside, but when the forecast says frostbite occurs in less than five minutes I get stir-crazy really quickly. Fortunately that weather broke and doesn’t look to come back again this winter. Funny bit - the forecast for later this week had a high of 10 one day and the description was “frigid” - pshhhhh.
Post by: Greenback Reproduction Specialist on February 19, 2019, 04:54:39 PM
We find ourselves currently with enough set aside to do basically whatever we want. So we got our FU money taken care of.
I think we are about 50% of full funded for FIRE.
Post by: CarolinaGirl on February 28, 2019, 04:33:55 PM
I’m shooting for July 2021. I’ll be 50 years young. :)
Like frizzywhiskers, it will be my birthday present to myself! I always did give myself the best gifts. Ha!
Post by: MarcherLady on March 01, 2019, 12:37:13 AM
I'm still here, still pushing for 2020, although some days I just want to throw a tantrum and quit NOW!
We should reach our number sometime between May-August this year, things really depend on Brexit and who knows what that's going to look like. The Pound has really strengthened in the last week and that's had quite the negative impact on the stash. Seems kind of unpatriotic to resent that though!
Post by: the_fixer on March 01, 2019, 08:41:14 AM
So close yet so far away...
From a waiting to start the next part of my life perspective it seems so far away and it seems like the date will never come.
From the financial side of things I look at it and it seems like it will be here in no time at all and start to stress that I will be able to amass enough by then despite having every paycheck between now and then plotted.
Interesting feeling and place to be in.
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Post by: ScreamingHeadGuy on March 03, 2019, 07:09:41 PM
Finances:
December 2018 - 79.7%
January 2019 - 85.9%
February 2019 - 90.6%
After 4Q 2018 when "the market taketh" it looks like this is the part when "the market giveth". Nice to see the stash climb upward in huge chunks. Heck - if the market keeps up this pace I might hit "my number" two years early! (I don't expect that to happen. And even if it did it's not that I'd 2LY; I'm nowhere mentally prepared and I haven't done mechanical things I'd need to do one year in advance like stop reinvesting dividends and calculating my basis for long-term investments.)
We are at the point where I could dial work way back (two days a week at the corner gas station level of effort). But I would rather push on and hit my target rather than coast into FIRE. Of course once I actually hit the target then it becomes a mental and market issue. (Yes, I've already read Dr. Doom's "Quit Series"; it's awesome and helps me understand the psychology involved - as much as someone can without living through it that is. But I'm still nowhere near mentally prepared.)
Life:
Well, February ended up having just as bad of weather as January did. The first week of March is looking to lay an egg, too. This weather is why I plan my FIRE date in April - even though I may hit "my number" earlier in the year.
My Friday night D&D group (I'm a player in this group) started a new campaign this past month. It's always a shock after ending a long-running campaign with high-level characters to start anew with fresh low-level characters and get KO'd in one hit. At the same time it's refreshing because everything is more meaningful (there's value to finding arrows and copper coins).
I'd filed my taxes for 2018 and was pleasantly surprised at the federal refund I'd received (yes I know it means I had them withhold too much in taxes but I was really uncertain with the new law and erred on the side of caution) and also pleased with how close I was with my state taxes (wound up owing $6).
Work is alright still. Some days are s-l-o-w and others are very busy. I like to manage workload better that that - but what can a person do when he's not authorized to start work on a project one day and the next everybody wants something RIGHT AWAY. Sometimes I wish my responsibilities were more like they were five years ago because then I'd get to spend more time just doing design (the part of my job I find really fun) and less time dealing with the client and managing co-workers' workloads (obviously less fun, but the reason my pay is what it is). In fact it's my theory that "senior level" employees need to get higher pay because that's the only way this level of work BS is tolerable.
Post by: YoungGranny on March 06, 2019, 08:08:02 AM
Post by: ScreamingHeadGuy on March 08, 2019, 07:12:39 PM
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Post by: ALDI on March 09, 2019, 11:17:51 AM
Great to see all the progress here, very motivating....
I am planning to FIRE in 2021, date tbd.
I will be in my early fifties.
My middle management job was fulfilling for quite some years, I love the business I am working in. But since 2016 or so I feel torn apart between my mission to give my team members all the resources they need to do their job successfully and a senior management that is not keeping promises in terms of resources and to the contrary, adds layers of administrative duties. Micro Management, not my style. The grass is not greener next door, though, as I can hear from my friends in the industry.
I am currently approx. at 3/4 of the target amount of financial assets.
My exit strategy is a bit complicated as I have to deal with many side constraints. Just giving notice is a strategy that leaves too much money on the table...
In 2021 the last of 3 kids will be out of school, and maybe out of the house as well. DW and me plan to catch up on some bucket list travel plans as we will be empty nesters. Downsizing housing (no mortgage, HCOL area) will free a some home equity later on.
As I am located in the Eurozone, you have to know that EUR Govi bond yields are depressingly low. This leads to a very aggressive asset allocation (85% global equities, 15% EUR bank deposits). I carried high equity risk in my portfolio all my adult life since I bought my first stocks at 16 so that my mental risk capacity is quite high. But I plan to increase the cash part by 10 or 15% around FIRE date to manage sequence of return risk. I read an article on Kitces.com that it is important to increase equities if and when the ugly downside market scenarios don't materialize....
Have a good weekend wherever you are on this beautiful planet!
Post by: nazar on March 23, 2019, 09:46:49 AM
This has been a rough week as my younger sibling suffered a massive silent heart attack. No symptoms, but they went to the hospital because they had been suffering with a cold/ flu and breathing was becoming difficult. So pneumonia on top of that, and also impaired kidney function and undetected diabetes were identified. It will be a slow, difficult recovery with possible transplant in the future. The doctors frequently told the spouse that age is on their side. My take: having a heart attack that was not fatal at a younger than common age offers a better chance of recovery. I don't want this to be me. I can't do much about genetics, but I can do what I can to control any other factors and avoid the same fate. I have not been doing all I can because of a stressful, all consuming job.
My sibling had a stressful prior year getting re - engineered into a lower position by new management and had just a few months ago changed jobs and found a new, ideal position. My job is considerably more demanding and stressful than theirs and what led me to my plan to depart early in 2021. I'm hanging around for a giant carrot that I will be eligible for in that year, but could walk away now. I am wondering if it is worth it. I am also concerned about the finances of my sibling and their spouse. They are typical work till SS, Pensions and Medicare kick in types. No material savings, but have AFLAC. Insurance coverage post retirement until Medicare is my biggest concern. I haven't had any catastrophic medical issues, but what if I do between now and 2021? The job, which provides affordable coverage also is the greatest obstacle to a healthy life. I'll likely stick to my plan, but I am very concerned about the negative health impact of doing so.
Post by: MarcherLady on March 23, 2019, 11:49:48 AM
Post by: HumanAfterAll on March 25, 2019, 10:18:59 PM
nazar, I'm sorry to hear of your sibling's heart attack. Best of luck to you & your family during the recovery, and thank you for sharing the story for perspective.
ALDI, I feel your pain with the middle management bind. Congrats on being close to freedom!
2021 is coming right up! Is anyone else starting to think about changing their investing mindset from Accumulation to Drawdown? Are you putting your new savings contributions into bonds, CDs, or cash? ALDI it sounds like you are on that path. Doing anything fancy to prepare to get money out of retirement accounts?
I'm not fully committed to quitting in 2021, and my wife probably won't quit outright, so I'm not making any big moves. Back in October I started getting worried about where we are in the market cycle (Howard Marks) and Sequence of Returns Risk. I found Portfolio Charts, and after a few weeks of reading & research, decided to start putting new money into gold (up to 15%) rather than buying stocks. Gold is controversial, but I've concluded it is good downside insurance for the early retirement years. To my mild annoyance, at the end of 2018 stocks tanked and gold went way up, at which point I stopped buying, well short of my target. Now I'm in this weird place where my target asset allocation calls for more gold, but it's expensive so I'm not buying it. I can start accumulating cash, but after so many years focused on accumulation and growth, it's testing my patience to have money 'off the table' and missing out on potential earnings. If I was more serious about pulling the plug, maybe I would feel better about it.
So if this recession forecast is real, will class-of-2021-ers be buying stocks on the way down, or something safer for the next 5 years of spending money?
Post by: the_fixer on March 26, 2019, 08:53:08 PM
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Post by: monarda on March 26, 2019, 09:41:34 PM
Planning on FI sometime in 2021, TBD. We'll be 61 and 60.
Post by: ScreamingHeadGuy on March 27, 2019, 12:11:37 PM
I have actually written my ISP with this plan (and more instructions in case a big nasty event happens to my portfolio) a few weeks ago, just to put in writing what I had been thinking. Having a written plan somehow has given me peace of mind. If anyone thinks there may be value I could post it for your use or contemplation.
Welcome aboard to the recent additions. I will post an updated roster shortly, especially since we are on page six (6) now. Hooray for our cohort!
Post by: ScreamingHeadGuy on March 27, 2019, 07:05:45 PM
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Post by: ScreamingHeadGuy on April 01, 2019, 09:02:33 AM
December 2018 - 79.7%
January 2019 - 85.9%
February 2019 - 90.6%
March 2019 - 92.1%
Somehow the market still seems to be generous with returns. The annual IRA sum was deposited in January and the 3O% 4O1k contribution runs from January to October, at which point I have hit my ceiling for the year. The HSA contributions and company match go the whole year through,though, so there is a little more in November and December.
Shoot, at this point I don’t know what market returns will be, but they will almost certainly dwarf whatever my contributions are. I need to contain my exuberance about these gains because the drop can happen at any moment and clean me out. Stoicism in the face of a bull market in anticipation of the bear.
Life:
March weather wasn’t all that much better than February, except for the last week. That was spring break for the schools around here and the weather was decent, so I got the bike out and commuted that way with the reduced traffic. I have been taking breakfast to work and eating after my commute, i started this even before the biking started, and it seems to cut down on instances of indigestion.
My 5yo daughter just learned that cursive script exists, so she had to write her name using it. It took about 3O minutes to create something that looks like cursive with almost legible letters, so we could say she writes her signature like most adults do.
The wife seems to be getting tired of being the SAHM. She’s been the primary caregiver since she FUed out of her job in March 2O18. I just get this feeling, especially after spring break, that she doesn’t quite enjoy it as much as she thought she would - or it could be the 5yo wears on one after so much time. I know she’s talked about getting a part time job after full day kindergarten starts in fall. This is a thing i should talk to her about more.
Wife and I have been going through the Alpha course at our church. It’s good and all, but I just get the feeling I am not its intended audience.
On to April.
Post by: Ladychips on April 01, 2019, 01:44:00 PM
I realized that is the LAST calendar I will order and hang on my door. Because I'm leaving in July 1, 2021 (God willing!). How awesome is that?!?!?!?!
Post by: ScreamingHeadGuy on April 01, 2019, 03:12:11 PM
I realized that is the LAST calendar I will order and hang on my door. Because I'm leaving in July 1, 2021 (God willing!). How awesome is that?!?!?!?!
@Ladychips That is a huge milestone. It is probably the first of the lasts you will get to experience. I look forward to finding all sorts of things I will do the last time, probably not realizing it until I do them.
Post by: YoungGranny on April 02, 2019, 01:36:43 PM
Post by: MarcherLady on April 02, 2019, 03:03:35 PM
Post by: HumanAfterAll on April 02, 2019, 08:52:45 PM
I'm being courted by a startup 2 states away. I'm conflicted... don't want to move, and don't want to miss any evenings with a toddler at home. If I could work remotely 50-75% of the time, perhaps it could work out for a couple of years. DW suggests I ask for 2X my current pay, which would go a long way to hitting a 2021 FIRE date. But I'm not sure that is enough to justify being absent from bedtimes, meals, etc. for two years. DW works full time, makes more than I do and does more of the dropoff/pickup and cooking than I do. My gut says that no amount of salary increase will be worth burning relationship bucks.
Post by: YoungGranny on April 03, 2019, 07:15:10 AM
@HumanAfterAll - that's tough! Time is freedom and as someone who has had her husband travel for the past 2 years it does feel like it drags on sometimes. 2x salary could be worth it though, how much time would that shave off of your FIRE date?
Post by: HumanAfterAll on April 06, 2019, 05:22:35 PM
Who knows, maybe I can angle for a remote, technical position instead of on-site manager. I'm all about downshifting these days :)
Post by: Buffaloski Boris on April 15, 2019, 09:38:18 AM
The date: February 28, 2021. I will be 56 yo.
I’ve been playing with the simulations and it keeps coming up that I have 100% chance of retirement success. I must be messing something up. But I guess with pensions, a spendy but not too spendy lifestyle, and making my own dumb luck, it’s gonna work.
Sort of begs the question why don’t I just give notice now as I’m probably FI already? My answers:
1. Golden handcuffs. Employer pays for most of medical insurance and a yuuuuge increase in pension.
2. I actually like my job and my boss. Though job growth/ promotion opportunity seems to be on a downward slope.
3. Not sure that DW is on board with this FIRE idea, though she surprises me. Will probably have to ROT (Retire On Time) instead.
Post by: the_fixer on April 16, 2019, 11:34:09 AM
Last week was HELL at work with lots of fallout to follow cleaning up issues for months to come. I have never walked out on a job before but I loaded up my gear and was headed out the door and would have kept walking except I would feel bad leaving the few people that care holding the bag.
Maybe it was the 14 - 16 hour days, incompetent help that keeps getting assigned to complex issues or just being setup for failure but it sure made it hard to stay.
On the plus side I was frustrated enough to call HR and ask them to verify my actual vesting date and found out that it is a full year earlier than I had thought.
So... 195 days from today until I am 100% vested in my retirement :)
Keeping my FIRE date where it is as i will still need to earn some money to be happy with my FIRE number.
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Hard to believe this was 6 months ago...
I received my pension notice Friday and it shows me as 100% vested.... Even came earlier than expected :)
Right now I am sitting at about 70% of my FIRE number not including my pension or social security so we should be on track.
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Post by: nazar on April 24, 2019, 11:27:20 AM
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Post by: MarcherLady on April 24, 2019, 12:22:37 PM
Post by: 12321 on April 24, 2019, 12:25:10 PM
Post by: the_fixer on April 24, 2019, 05:22:11 PM
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Post by: frizzywhiskers on April 24, 2019, 05:59:32 PM
Post by: ScreamingHeadGuy on April 24, 2019, 07:00:21 PM
Taking into account holidays, vacation days, sick days, etc. that should be 440-ish days of work.
Post by: Buffaloski Boris on April 25, 2019, 02:52:46 PM
Post by: ScreamingHeadGuy on April 30, 2019, 02:24:32 PM
December 2018 - 79.7%
January 2019 - 85.9%
February 2019 - 90.6%
March 2019 - 92.1%
April 2019 - 95.2%
3.1% stache gain - not a typo. I just do not believe it. Part of the gains were my 401k contribution, some from my ESOP revaluation, and a whole lot from The Market. Just like last month I remain calm in the face of good fortune. (But secretly giddy I could OLY or, at least, a few months less.)
Life:
Here is where I get to balance out the good financial news.
On Holy Thursday I went over my handlebars while biking to work (drizzle, railroad tracks, big bada boom). Good news I only significantly sprained my left wrist (plus abrasions and bruises, but they are negligible). Bad news - after a few days my wrist hurt so much I went to a doctor to get X-rays in case it was broken, and that will cost 240-480 dollars (yes I can afford it, but I didn’t get to 95.2% by spending money darn it!). Good news - it is almost better and I plan to ride again on Friday, weather permitting. (And I will walk the bike over those horrible tracks until the RR company redoes that crossing...or until I FIRE and don’t bike to work again.)
Easter was small this year. Just me, wife, and daughter. All the grandparents were thousands of miles away on vacations (lucky retirees).
I spent the first week of the month traveling for work, something I haven’t done in at least 2.5 years. More travel may be in store - stay tuned.
Post by: ALDI on May 18, 2019, 10:49:02 AM
I bike to work approx. 150 days per year for some years now and I have to remind me all the time to not let the routine kill my attention. But apart from that fear, biking to work 45 min each way is my daily vacation, I am missing it when I do have to travel for business.
I have to report a serious infection with the scaremonger Virus, after I read the recent book by Taleb "Skin in the game" (although I enjoyed the read otherwise) and watched his recent Bloomberg interviews on my way back from a long business trip. In those interviews he appears as perma bearish because of the next looming debt crisis. He owns only gold, cash and some option strategies that will benefit from the expected bear markets. He proved to be successful as a option trader in his early career which puts more gravitas to his word, doesn't it?
So with this in mind I start to put my aggressive allocation into question. Do I really want to be ruined by that next black swan? Should I take up the fight with uncertainty and time the market? Maybe I can do it, against all odds?
I went back in time in my thoughts: By sheer luck (although I applied a routine of selling when the trend breaks), I sold most of my dot com stocks in Feb 2000 and reduced the mortgage of our first house with the proceeds. In 2007 I divested from equity funds to buy a lot and build our second home. Building cost turned below my budget, so I had some change left to invest in equity funds in Dec 2008. After some successful years of working and investing, I am now sitting on this sh**load of dough in equity ETF and wonder if I should try again to do the impossible: to time the next big market downturn. It would feel so nice to buy back the stuff 40% lower. But who am I to challenge Mr Market, a master of the Universe or what?
Post by: ScreamingHeadGuy on June 01, 2019, 07:59:46 PM
December 2018 - 79.7%
January 2019 - 85.9%
February 2019 - 90.6%
March 2019 - 92.1%
April 2019 - 95.2%
May 2019 - 91.6%
Well, it happened - the numbers can go down. (I know they can, and they have in the past, but they had not since I started posting my tracking in this thread.) But, looking at it, I'm still above my February level. Since I still have 23 months until my "target date" I don't think there is any need to worry about this past month's performance.
Life:
I spent the past week traveling for work, well Wednesday through Friday at least. Three days away for a measly 1.5 hour meeting which should have just been a conference call (it was originally scheduled to be a 6 hour meeting and cross-country flights meant travel to/from on the day of the meeting wouldn't work). I shouldn't be one to complain - it is good to have face-to-face time with the client, but it grates me to waste so much of my time when it's unnecessary. Guess I'll just have to quit work (patience my precious).
We put our dog down two weeks ago. We had had her for the last 9 years as a rescue animal. She was 16 years old and had been going downhill for the past 6 months. She had been going blind, becoming senile, and losing strength in her rear legs. The final week she just stopped drinking and stopped eating (unless she literally walked into food). So long my dear dog; I'll remember our naps and walks.
My 4-year-old car is in the shop with engine failure. The stupid thing is covered by warranty, so that's good. The really upsetting part is the poor communication on the dealer/servicer side - when they say they'll call but don't I get upset. Fortunately I've been traveling for work (see above) the past week and the weather's been mostly nice so I could bike most days since the car's been in the shop. Oh, and the part they need will take "a couple of weeks" to come in so I've got a rental vehicle (newer model of my usual ride - I was secretly hoping for a sporty convertible) as a loaner in the interim.
Oh, shoot, and I turned 40. Guess that explains the whole sporty convertible desire above, no? (That's some self-deprecating humor, folks, not a cry for help.)
@ALDI - I totally agree about the biking - my 30 minute commute is a great way to de-stress after work and I do miss it on days I have meetings, it rains, or whatever else causes me to drive the car. My mortgage will be paid off in June of 2020 (although I could just kill it with cash now). I'll just keep the mortgage and cash, though, because I have some other expenses planned this year and early next.
Post by: rantk81 on June 02, 2019, 07:30:03 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!!!)
Quoting/Bumping my prior post. Wow, my life has changed a lot in three years! Net worth has increased from about 1M to 1.5M since then and now. I now have a spouse to consider, so expenses have increased. I still think I'm on track for 2021, though! A OMY won't be out of the realm of possibility though, depending on how things shake up with the overall economy and with the ACA.
Mainly just posting here for my own benefit -- to keep myself motivated :D
Post by: CrazyIT on June 05, 2019, 01:05:33 PM
So year Next march.....final answer
Good luck to all of you!!
Post by: MarcherLady on June 06, 2019, 12:21:44 AM
Post by: Matz_70 on June 07, 2019, 11:35:25 PM
Need 12 more months of work before 15/12/2020 to make the target date.
Post by: ItalianGirl on June 14, 2019, 01:04:49 PM
Thanks and gratitude to this group... it was such a relief discovering this blog and knowing I wasn't crazy or alone.
Post by: Buffaloski Boris on June 14, 2019, 03:15:41 PM
This is my cohort.... Hubs and I are planning May 1st 2021. I'll be 52. Hubby will leave his ski area job after that season April 30 and I am hoping to sell my agency in Jan of 2020 and be totally out of the consulting/ transition role by this date. DD graduates college in May 2021 so it should be one hellova year for celebrating. I'm probably FI already but I'm going for fat fire of $3M. I read your money or your life in college at the age of 26 so this has been a long journey. I'm beyond ready to be donezo...
Thanks and gratitude to this group... it was such a relief discovering this blog and knowing I wasn't crazy or alone.
Well, “sane” these days seems to be defined as up to your ears in debt with $500 saved. Welcome to the asylum, class of 2021😆
Post by: ScreamingHeadGuy on June 14, 2019, 09:22:15 PM
Post by: the_fixer on June 15, 2019, 11:01:52 AM
I have been funding our Roth's for a few years and need to start looking at the best way to pull the money and still balance being @ the correct level for ACA subsidies.
It will be tricky running the Roth ladder and balancing our MAGI while making sure we can pull enough money to enjoy life.
Interested to hear where other are in the process and what if any tools you are using, I feel like I am a bit behind with about 2 years 3 months to go.
Sent from my Pixel 2 XL using Tapatalk
Post by: boyband on June 17, 2019, 06:52:12 AM
My work has been insanely busy, and now the dust is starting to settle it's time for an update. My date of being FI is rather than late 2021... anticipated to be in October :-D
#YOLO
Plan after? Keep doing what I do - extra comfort and padding is not a bad thing, I love my work (for now), and have a chance to give others the same opportunities I've had. I met might be getting old (age 34), but I think I can do a few more years yet.
I need to get there first (which is going to be hectic) but I'll then be able to relax knowing that I'm playing with 'house money', and if my decisions don't pay off, that's fine - I'll have no need to be ruled by fear.
Post by: ScreamingHeadGuy on June 19, 2019, 07:31:58 PM
Anyone starting to look at your withdrawal strategy yet?
I have been funding our Roth's for a few years and need to start looking at the best way to pull the money and still balance being @ the correct level for ACA subsidies.
It will be tricky running the Roth ladder and balancing our MAGI while making sure we can pull enough money to enjoy life.
Interested to hear where other are in the process and what if any tools you are using, I feel like I am a bit behind with about 2 years 3 months to go.
Here's my plan for our desired spending level - 41k.
16k will come from selling in our taxable account (I figure between a third and half of this will be long term capital gains). We will be converting 35k per year from IRA to Roth IRA and then withdrawing 25k from the Roth to cover spending (we've got just over five years of that level of withdrawal currently in the Roth).
I'm trying to fine-tune exactly how much we can/should convert from IRA to Roth, though, because of two factors.
1. 200% of the Federal Poverty Level (FPL) for a family of three is about $42,600.
2. With one child we can have up to $43,841.66 income with no federal tax liability.
I'm not sure if it's more advantageous to maximize ACA subsidies or to convert, federally tax-free, more IRA to Roth. Guess this particular part of the equation will have to wait until I can check 2021 open enrollment pricing.
Post by: sisto on June 24, 2019, 11:26:43 AM
Post by: frizzywhiskers on June 24, 2019, 07:12:26 PM
Post by: ScreamingHeadGuy on June 29, 2019, 08:09:42 PM
December 2018 - 79.7%
January 2019 - 85.9%
February 2019 - 90.6%
March 2019 - 92.1%
April 2019 - 95.2%
May 2019 - 91.6%
June 2019 - 97.7%
Well this was an unexpected surprise. I thought the market's gyrations might have returned us to the April figure, but never had I imagined we'd push so far past it. At this point I'm not sure what else to say other than wild speculations. (If the market returns 2.7% for the second half of the year I'll hit my target in October OR if it drops 12% on Monday but then goes back to "average" returns my April '21 date holds).
Life:
The first full week of this month I spent half of it at a conference (a not-work conference) at a waterpark resort. The wife and girl came along and enjoyed the facilities (I had two afternoons of fun, too) while I was educated and schmoozed.
The weather's been nice enough to bike to work just over half the days. We've enjoyed the weather as a family, too - some minor league baseball, plenty of time at our neighborhood park, and family-friendly activities downtown. (Oh, and the car was finally repaired two weeks ago.)
The girl has graduated 4K and is now in summer school at her soon-to-be elementary school. She continues to love learning and is reading with help. She also loves monkey bars, climbing trees, slides, dancing, and acrobatics. Like every parent I'm very proud of her accomplishments and hope/pray I am/we are doing a decent job of raising a well-rounded citizen.
Post by: Money Badger on July 07, 2019, 06:01:29 AM
My heart is certain it's going to involve gardening / outdoor activity with good people... And I'll find some form of "work" that keeps me on some form of schedule along the way. Already experimenting with getting involved here and there.
Post by: Greenback Reproduction Specialist on July 09, 2019, 10:25:45 AM
Hope everyone else is doing good : )
Post by: dblaace on July 29, 2019, 08:39:44 AM
I'll be 60 in September of that year, 60 is early right, wish I had started earlier.
I still need to figure out what I want to do then. I have no idea.
Post by: ScreamingHeadGuy on July 31, 2019, 08:22:27 PM
Finances:
December 2018 - 79.7%
January 2019 - 85.9%
February 2019 - 90.6%
March 2019 - 92.1%
April 2019 - 95.2%
May 2019 - 91.6%
June 2019 - 97.7%
July 2019 - 99.6%
It has been another month of abundant market fecundity. The only “downside” is that I had actually passed my goal number for the past week, but dropped below it after this week-so-far returns. Depending on returns in the near term I may give serious consideration to shaving a few months off my FIRE timeline.
If anyone had told me in 2010 that our financial situation would ever look like this (having 28x our annual expenses invested and able to quit work whenever we felt like) I would have never believed them. Back then I was reduced to 80% and my soon-to-be wife was losing her job. We swore, as God was our witness, we would never let ourselves be at the financial mercy of anyone/thing ever again - but never figured it could be like this.
Life:
This month has been chock full of goodness. Today is our ninth anniversary. Hooray for team us.
My wife’s sister and our nephews from out of state visited for a week early in the month. While I love my nephews I, and my wife wholeheartedly agrees, am so glad we are raising our daughter differently than those boys. (Discipline, schedules, dining manners, and expectations.)
Weather has been gorgeous, except for tornados two weeks ago which left parts of our area without electricity for up to four days (we were out less than half a day). Just small branches blown off trees in our yard, but the in-laws had lost a huge birch tree. With the nice weather (humidity be darned) and few out of town meetings to attend have got to commute via bike so much this past month - this week will be all biking even.
Early this month I celebrated my work anniversary (July is just a big deal kind of month for me I guess). I got a promotion (meh- only care about it because it should let me focus on a certain client’s work and keep me from getting dragged into others’ projects when they need to throw bodies against a deadline). With the promotion came a 9% raise. FU money meant I was bold and asked for a 15% raise - typical shoot for the moon but land among the stars stuff.
Not good news - my wife was rear-ended last week and the vehicle needs body work (this is the second time my wife has been rear ended while stopped WTF!?) but her vehicle was drivable while the perp’s car was severely “jacked up”. Fortunately the other driver’s insurance should cover everything and we shouldn’t even have a deductible. It’s not the money that would be a problem, it’s just the hassle of an unexpected thing to deal with.
The girl finished summer school and is now busy with swim class and our library’s summer reading program. While the wife gets to have outings all day (and has to put up with the child all day, too) I try to get quality time most evenings. Fortunately she likes to be engaged with legos, coloring, and general doing stuff outside.
Veggies are becoming harvestable in the garden. Yum!
Post by: MichGemini on August 20, 2019, 04:56:11 PM
I am new here but my FIRE date is 9/30/2021. Will be 46 at the time.
Anyone else find it mentally draining to think about most the time?
I am pretty sure I am good, only scary part is 90% of retirement is in 401k. Which mainly means using a 72t.
I am sure the amount most calculators show is more than I believe I will spend.
Just figured I could find other investments to put anything I don't spend in. A new roth account / back door roths and so on.
Sometimes I think I am going overboard on my calculations, but I always have the "what ifs" in the back of my head.
Curious what everyone does to combat the stress, especially as the time approaches.
Post by: ScreamingHeadGuy on August 20, 2019, 09:39:41 PM
Hello All,
I am new here but my FIRE date is 9/30/2021. Will be 46 at the time.
Anyone else find it mentally draining to think about most the time?
I am pretty sure I am good, only scary part is 90% of retirement is in 401k. Which mainly means using a 72t.
I am sure the amount most calculators show is more than I believe I will spend.
Just figured I could find other investments to put anything I don't spend in. A new roth account / back door roths and so on.
Sometimes I think I am going overboard on my calculations, but I always have the "what ifs" in the back of my head.
Curious what everyone does to combat the stress, especially as the time approaches.
Hi Mich. I had a serious case of calculations-itis myself up until a few months ago. I would go through compounding interest math in my head while waiting to fall asleep. I always came up with the same “it depends on market return assumptions” result. Eventually I just accepted there’s nothing to do but get back to living life and let the numbers do number things in the background. (And I used Early Retirement Now’s spreadsheet to set up my “master” what-if scenarios, quit worrying, and learned to love the bomb).
Welcome to the cohort.
Post by: tampaite on August 21, 2019, 12:32:11 PM
End of July update.
Finances:
December 2018 - 79.7%
January 2019 - 85.9%
February 2019 - 90.6%
March 2019 - 92.1%
April 2019 - 95.2%
May 2019 - 91.6%
June 2019 - 97.7%
July 2019 - 99.6%
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 99.6% 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 -->
| Month | Percentage | Total Accumulated | Annual Expense Target |
| July 2009 | 20% | 200K | 5x |
| Aug 2009 | 23% | 230K | 5x |
| Sep 2009 | 24% | 240K | 6x |
Post by: ScreamingHeadGuy on August 31, 2019, 10:15:31 AM
Finances:
December 2018 - 79.7%
January 2019 - 85.9%
February 2019 - 90.6%
March 2019 - 92.1%
April 2019 - 95.2%
May 2019 - 91.6%
June 2019 - 97.7%
July 2019 - 99.6%
August 2019 - 99.0% (27.7 x expenses)
For a while I was expecting worse of a month. But this last week saw a rally and my bonds zigged while the equities zagged. There were my monthly contributions, too. Oh and my wife’s ESOP from her former employer (which she cannot start to cash out for another five years) was revalued so that added some black to the spreadsheet.
Life:
We are the proud parents of a brand new teenager! Three weeks ago my wife learned that a host family for an exchange student fell through and she, being a former exchange student, just could not let this derail another’s dreams. Thus we applied to be a host family, did all the background checks, interviews, and home visit in a few days and - less than a week later - our family welcomed a new 16 year old. So far it’s working out wonderfully. Got to learn how to register a new student into high school, open a bank account for a foreign national, and learn some Romanian (can count up to 99!).
The next day after our student arrived the family took a trip through the UP of Michigan. Mining history, natural beauty, engineering marvels, the second National Park of the US (now a state park) were our itinerary. Like it has been lately these week-long vacations really whet my appetite to quit work. If only....
Weather has been great again (a few afternoon deluges and thunderstorms but that’s not enough to change my appreciation of a not-hot-and-humid month). The fall cool has been noticeable lately with some early morning “briskness”. I have been wearing shorts while biking to work for a while and have just quit changing into slacks these past few weeks - the benefit of working alone in a satellite office.
I have been reading a lot more. I just deleted all the time wasting games off my tablet and it feels so good to not feel obligated to play (that was a strange sensation).
Only 20 months left (unless the market helps....)
Post by: Arbitrage on August 31, 2019, 10:57:56 AM
Nevertheless, it looks like markets and/or my house to provide about $100-$150k in growth to hit the target date. About 7% annualized if the house provides nothing. Sounds like a good bet over a 30-year period, but over a 2-year period, it's anyone's guess. If I don't get lucky, it's off to the sad land of OMY.
*Specifically, my REITs and bonds have beaten VTSAX handily, but my international and small-value chunks have decidedly not. Someday international will pay off. Someday.
Post by: honeyfill on September 03, 2019, 03:24:15 PM
I retired once in 2018 but recently went back to work. Financially it was fine but mentally I was not as prepared as I should have been.
I am planning on re-retiring some time between Jan 2020 and June 2022, So the odds are it will be sometime in 2021 .
It all depends on the stock market, the health insurance situation and how the new job works out.
Post by: Buffaloski Boris on September 18, 2019, 05:42:16 PM
Post by: Mmm_Donuts on September 18, 2019, 06:21:28 PM
Sept 1 2019: 73.5% towards FIRE goal.
I'll put a date out there: April 1 2021.
Having a narrower deadline might help me enjoy my job a bit more. A year and a half (give or take) sounds much better than 3+ years. The end is in sight. I can definitely handle another year or so.
I've been spending less time on this site because spending and saving habits are more or less on autopilot now. My main goals lately are to reduce food and restaurant spending. Otherwise we don't buy too much stuff anymore, and I'm getting better at figuring out how to use what we already have, or buying things used.
I'm learning more and more about food waste and how to prevent it. I had a bad habit of noticing food in the fridge that was on the edge of going bad and ignoring it. Then eventually throwing it out when it gets too gross. Now I'm looking at the food that's on the edge and eating it before it goes bad. Still tastes fine! No one has died. Also instead of buying whatever I need from recipe to recipe, and then using it that one time and not knowing what to do with whatever's left of those ingredients, I look at what's in the fridge and ask myself what I can make out of what's there. So simple but it's taken me all these years to figure it out. Stir fries, soup, muffins with random leftover fruit, veggies and grains are my friend.
So -- the current goals are:
- eat up what is in the pantry / freezer / fridge before buying anything else. I'll only buy necessary perishable staples when they run out
- limit eating out to 1x a week (takeout) and 1x a month or so (date night / sitting in at restaurants)
- getting rid of stuff, in preparation for downsizing
- not buying books or clothing (continuing this trend, I'm already pretty good at that)
- being grateful for what I have
- learning about growing food, planting seeds for veg garden in the winter
- continuing tracking the spending and saving ~70% of my paycheque
I am embarrassed to say how much we've been spending on groceries and eating out. So unnecessary. That's got to stop.
Good luck all!
Post by: Buffaloski Boris on September 18, 2019, 07:42:56 PM
I'm going to throw my hat into the ring here. I was originally in 2023 but I think that's too pessimistic. Plus, a house sale / downsize will speed things up.
Sept 1 2019: 73.5% towards FIRE goal.
I'll put a date out there: April 1 2021.
Having a narrower deadline might help me enjoy my job a bit more. A year and a half (give or take) sounds much better than 3+ years. The end is in sight. I can definitely handle another year or so.
I've been spending less time on this site because spending and saving habits are more or less on autopilot now. My main goals lately are to reduce food and restaurant spending. Otherwise we don't buy too much stuff anymore, and I'm getting better at figuring out how to use what we already have, or buying things used.
I'm learning more and more about food waste and how to prevent it. I had a bad habit of noticing food in the fridge that was on the edge of going bad and ignoring it. Then eventually throwing it out when it gets too gross. Now I'm looking at the food that's on the edge and eating it before it goes bad. Still tastes fine! No one has died. Also instead of buying whatever I need from recipe to recipe, and then using it that one time and not knowing what to do with whatever's left of those ingredients, I look at what's in the fridge and ask myself what I can make out of what's there. So simple but it's taken me all these years to figure it out. Stir fries, soup, muffins with random leftover fruit, veggies and grains are my friend.
So -- the current goals are:
- eat up what is in the pantry / freezer / fridge before buying anything else. I'll only buy necessary perishable staples when they run out
- limit eating out to 1x a week (takeout) and 1x a month or so (date night / sitting in at restaurants)
- getting rid of stuff, in preparation for downsizing
- not buying books or clothing (continuing this trend, I'm already pretty good at that)
- being grateful for what I have
- learning about growing food, planting seeds for veg garden in the winter
- continuing tracking the spending and saving ~70% of my paycheque
I am embarrassed to say how much we've been spending on groceries and eating out. So unnecessary. That's got to stop.
Good luck all!
Welcome to the cohort! This one seems quiet, so I guess I’ll have remember to post here more often. As I’m sure many folks on investor alley wish I’d STFU, I’ll give em a break and start posting here more often.
Post by: Ladychips on September 18, 2019, 07:49:47 PM
Post by: MarcherLady on September 19, 2019, 01:34:01 AM
Post by: Buffaloski Boris on September 19, 2019, 10:20:49 AM
Post by: ScreamingHeadGuy on September 21, 2019, 02:41:10 PM
|
Post by: Chaplin on September 22, 2019, 10:42:07 PM
In the mean time we're just trying to grind down some semi-fixed costs and make sure that everything to do with the house is in good shape so there aren't any surprises right after FIRE. I plan to go lean-FIRE for the first few years even though we're probably in reasonable shape for fat-FIRE. I'll FIRE with a bit less than 25X expenses saved, but with huge safety margins/backup plans:
- over $800K of home equity in an HCOL area that could be available via downsizing or geographic arbitrage if necessary
- CPP and OAS kicking in over the next twenty years, in total these should cover up to 40% of our expenses
- part-time jobs at a coffee shop, hardware store, etc. could be fun ($10K of income replaces $250K of savings shortfall)
- awkward to consider and discuss, but the reality is that inheritance up to $300K is possible
Post by: ScreamingHeadGuy on October 02, 2019, 08:13:23 PM
Finances:
December 2018 - 79.7%
January 2019 - 85.9%
February 2019 - 90.6%
March 2019 - 92.1%
April 2019 - 95.2%
May 2019 - 91.6%
June 2019 - 97.7%
July 2019 - 99.6%
August 2019 - 99.0% (27.7 x expenses)
September 2019 - 100.5% (28.1 x expenses)
After so many years it was fait accompli. Finally hit the target at month’s end. This feat just doesn’t feel real. I would like to thank the economic system of capitalism for making this possible, and yet say “fuck you” to capitalism for being able to suck the enjoyment out of a career so that a person would want to quit working.
Depending on how the next few months go I may move up my RE date a few months. We shall see.
Life:
The kids are in school. The kindergartner takes to it well, and seems to have no problem with the academic side.
I spent a week traveling for work. That is one aspect I like about this position- the occasional travel. It feels nice to be able to say “I can’t help you; I’m traveling for this other project.” Almost makes up for missing the family.
The rest of the month of work felt like trying to cram 20 gallons in a 10 gallon bucket. So many projects with tight timelines, all overlapping, and changing scopes. I know other coworkers are feeling the same stress at work. Maybe we need to have a company-wide day of no e-mail or phone calls so we can all catch up on the shit we need to do. :-)
Apparently we had the wettest September on record here. Aside from the last two weeks it hadn’t impacted my bike commuting.
I am planning to DM the classic Dragonlance modules in my Friday D&D group while the usual DM takes a break. Going over those modules makes me realize just how much everything I thought I knew about the adventures and the game world are based on the novels and NOT the original adventures themselves.
Like I said in my last entry I have been reading more/again. I probably did nearly 1000 pages last month between magazines, novels, and discussion club material. Hooray for the written word.
Post by: MarcherLady on October 03, 2019, 12:25:27 AM
Post by: Buffaloski Boris on October 03, 2019, 06:30:40 PM
Here is a monthly update.
Finances:
December 2018 - 79.7%
January 2019 - 85.9%
February 2019 - 90.6%
March 2019 - 92.1%
April 2019 - 95.2%
May 2019 - 91.6%
June 2019 - 97.7%
July 2019 - 99.6%
August 2019 - 99.0% (27.7 x expenses)
September 2019 - 100.5% (28.1 x expenses)
After so many years it was fait accompli. Finally hit the target at month’s end. This feat just doesn’t feel real. I would like to thank the economic system of capitalism for making this possible, and yet say “fuck you” to capitalism for being able to suck the enjoyment out of a career so that a person would want to quit working.
Depending on how the next few months go I may move up my RE date a few months. We shall see.
Life:
The kids are in school. The kindergartner takes to it well, and seems to have no problem with the academic side.
I spent a week traveling for work. That is one aspect I like about this position- the occasional travel. It feels nice to be able to say “I can’t help you; I’m traveling for this other project.” Almost makes up for missing the family.
The rest of the month of work felt like trying to cram 20 gallons in a 10 gallon bucket. So many projects with tight timelines, all overlapping, and changing scopes. I know other coworkers are feeling the same stress at work. Maybe we need to have a company-wide day of no e-mail or phone calls so we can all catch up on the shit we need to do. :-)
Apparently we had the wettest September on record here. Aside from the last two weeks it hadn’t impacted my bike commuting.
I am planning to DM the classic Dragonlance modules in my Friday D&D group while the usual DM takes a break. Going over those modules makes me realize just how much everything I thought I knew about the adventures and the game world are based on the novels and NOT the original adventures themselves.
Like I said in my last entry I have been reading more/again. I probably did nearly 1000 pages last month between magazines, novels, and discussion club material. Hooray for the written word.
Congrats on hitting your number! 🎉🍾
Post by: the_fixer on October 05, 2019, 07:45:34 PM
Gives me hope, sometimes I get discouraged but seeing how quickly you % has gone up makes me think my date just over 2 years from now might be possible.
Sent from my Pixel 2 XL using Tapatalk
Post by: Greenback Reproduction Specialist on October 09, 2019, 10:54:29 AM
Good news is, due to having a great stash and FU money, I've applied for and been accepted into a pilot pipeline program. So no more cubicle dwelling for me : )
Bad news is, I will be putting off fire for a few more years. But i'm ok with it.
For a long time a big FIRE motivation for me has been to be able to not have to sit in front of a computer all day AND live in places that are lower in population. My current occupation makes it difficult to live in a smaller town. This program allows me to hit both of those goals in about the same time frame, by 2021 I will be earning pretty good money again, and able to move anywhere we want. At the moment we are highly considering Ketchikan Alaska, it checks a lot of boxes for me and my wife.
Sorry we wont be able to take the leap with you guys, but good luck to everyone, still rooting for everyone!
Post by: MarcherLady on October 09, 2019, 12:24:53 PM
Post by: Arbitrage on October 14, 2019, 10:25:38 AM
Just something to keep my mind occupied during this boring stretch of saving.
Post by: ScreamingHeadGuy on October 14, 2019, 05:03:44 PM
Well, I've got good news and bad news.
Good news is, due to having a great stash and FU money, I've applied for and been accepted into a pilot pipeline program. So no more cubicle dwelling for me : )
Bad news is, I will be putting off fire for a few more years. But i'm ok with it.
For a long time a big FIRE motivation for me has been to be able to not have to sit in front of a computer all day AND live in places that are lower in population. My current occupation makes it difficult to live in a smaller town. This program allows me to hit both of those goals in about the same time frame, by 2021 I will be earning pretty good money again, and able to move anywhere we want. At the moment we are highly considering Ketchikan Alaska, it checks a lot of boxes for me and my wife.
Sorry we wont be able to take the leap with you guys, but good luck to everyone, still rooting for everyone!
Congratulations on this awesome development!
Post by: tipster350 on October 18, 2019, 11:19:10 AM
Post by: ScreamingHeadGuy on November 01, 2019, 09:33:01 PM
December 2018 - 79.7%
January 2019 - 85.9%
February 2019 - 90.6%
March 2019 - 92.1%
April 2019 - 95.2%
May 2019 - 91.6%
June 2019 - 97.7%
July 2019 - 99.6%
August 2019 - 99.0% (27.7 x expenses)
September 2019 - 100.5% (28.1 x expenses)
October 2019 - 102.4% (28.7 x expenses)
Well the markets gave a pleasant surprise this past month. It was kind of boring for me since I was in a “don’t check the markets in October” challenge, but refreshing to not do daily recalculation of my net worth.
In checking Healthcare.gov for possible plans (one year out scouting research) it looks like I’d been overestimating health insurance by about 100% (or $2600) so my overall projected post-FIRE spending will actually be 6% less. (Which means I’d really be at 30.1x spending - but I’m not going to recalculate all my past numbers; let’s just call this extra amount “fluff” or “extra factor of safety” (even though I’ve already got 20% discretionary spending in there...)). I am giving more thought to leaving work earlier than April 2021.
Life:
It’s been a weird month. We had a snowy past week, which really disrupts my mental flow (don’t usually get accumulating snow in October) and has put an early end to my bicycle commuting for the year. The second half of the month has been very “blah” in general.
Post by: effigy98 on November 04, 2019, 08:56:17 AM
Another good year in the tech industry
- Age 42, target FIRE date 12/2021
- House still paid off, real estate at 1.1m worth. Down from 1.3m last year.
- 1.2m in investment accounts (up from 900k).
- 529 20k (unchanged)
- HSA 30k (up from 22k)
- Rental still around 70k owed (unchanged)
- Accidently got a 3rd side gig from word of mouth from the 2nd side gig that is even more profitable. My weekends are shot probably for the next year (more coding).
- Got a promo, at 86% savings rate now. My job has got a lot more tolerable since the promo because I feel more respected and valued. I find that I am not looking at my fire numbers as often and enjoying life a bit more not as desperate to leave the rat race as I once was.
Wall of shame purchase
Sold some stock in taxable and got a used electric SUV (-37k) for wife. The old SUV was 13 years old and having lots of issues with it, was getting the EYE from wife so knew it was time to replace.
Post by: FIRE Artist on November 08, 2019, 02:42:25 PM
I am really, really tempted to 2MY it to pay off my mortgage, I was always planning to retire with a mortgage, ‘cause ya know, higher rates of return in the market and all that, but now, I am not so sure. I feel like I should do more to recession proof myself before I pull the plug completely. The problem though is that my current job is temporary, with a hard stop at end of Q1 2021, so I would have to apply for another job. I should really start looking now, but I really like my current job, and it would be great to go out on a high note. Decisions, decisions. The closer I get to the end, the more difficult it is to pull the plug. I am especially worried about a downturn during the beginning of my retirement, since this bull market is long since stale. To top off the anxiety, the province I live in is several years into a recession with no end in sight, and the government has put in place austerity measures.
This can’t be just me going through these thoughts so close to the end?
Post by: Buffaloski Boris on November 08, 2019, 07:21:07 PM
I am sitting at 93% funded for target withdrawal rate, and 35x base expenses (including mortgage payments). My target withdrawal is 33% above my base expenses.
I am really, really tempted to 2MY it to pay off my mortgage, I was always planning to retire with a mortgage, ‘cause ya know, higher rates of return in the market and all that, but now, I am not so sure. I feel like I should do more to recession proof myself before I pull the plug completely. The problem though is that my current job is temporary, with a hard stop at end of Q1 2021, so I would have to apply for another job. I should really start looking now, but I really like my current job, and it would be great to go out on a high note. Decisions, decisions. The closer I get to the end, the more difficult it is to pull the plug. I am especially worried about a downturn during the beginning of my retirement, since this bull market is long since stale. To top off the anxiety, the province I live in is several years into a recession with no end in sight, and the government has put in place austerity measures.
This can’t be just me going through these thoughts so close to the end?
Yup. Sequence of returns risk strikes fear into the best of us. The best resource I’ve seen that discusses sequence of return risk Is the series at early retirement now. I suggest giving that a read.
Post by: Peter Parker on November 30, 2019, 10:45:00 AM
Post by: Ladychips on November 30, 2019, 11:45:42 AM
Post by: ScreamingHeadGuy on December 01, 2019, 07:12:53 PM
December 2018 - 79.7%
January 2019 - 85.9%
February 2019 - 90.6%
March 2019 - 92.1%
April 2019 - 95.2%
May 2019 - 91.6%
June 2019 - 97.7%
July 2019 - 99.6%
August 2019 - 99.0% (27.7 x expenses)
September 2019 - 100.5% (28.1 x expenses)
October 2019 - 102.4% (28.7 x expenses)
November 2019 - 105.0% (29.4 x expenses)
It has been a month based entirely on market gains. I’d maxed-out my 401k contributions in October so this increase has been outside my direct control.
I rebalanced before the last week of the month because I didn’t want to have to bother with it this weekend.
My date has been moved from April 2021 to January 2021. But I sometimes joke to my wife along the lines of “I had a bad day today; guess I should quit.” Time will tell.
Life:
The weather has been more normal than October’s snowfall - just a tad on the warm side, but way wetter than normal. Many fields haven’t been harvested yet in this area. Snow fence cannot be put up until the fields are cleared. Oh, and we had another snowstorm yesterday/today.
I’ve had a 5-day weekend. I had just gotten used to free time and “sleeping in” and now it’s back to work. Let’s put this tally mark in the “reasons I’m moving up my date a few months” column.
DMing classic Dragonlance modules has been a blast. It’s so interesting to see what the 1984 AD&D rules are like if you try to play “by the book”, even though we have determined nobody actually used all the rules. Heck, even the modules are written to ignore parts of the rules.
Post by: Arbitrage on December 02, 2019, 08:10:44 AM
My stash keeps on banging its head against the same ceiling. Every time I approach that level, the markets pull back. It's not even a particularly meaningful threshold, but I'm sick of it! I was hoping today would be the day to finally get over the hump, but once again, it looks like it's going to dip (with my AA perhaps $1000-2000).
Just something to keep my mind occupied during this boring stretch of saving.
Apparently I need to whine more often; almost immediately after this post everything went on a tear and I blew past that mark. Of course, now that I'm posting a positive message, the markets will probably sink for a while.
I need to decide when to start ramping up my bond/fixed allocation. I've mostly been planning on doing it once I give my notice and have a firm date; not sure if I'm going to stick to that or not. Perhaps once I start house hunting in the new location.
Post by: ScreamingHeadGuy on December 02, 2019, 02:04:20 PM
My stash keeps on banging its head against the same ceiling. Every time I approach that level, the markets pull back. It's not even a particularly meaningful threshold, but I'm sick of it! I was hoping today would be the day to finally get over the hump, but once again, it looks like it's going to dip (with my AA perhaps $1000-2000).
Just something to keep my mind occupied during this boring stretch of saving.
Apparently I need to whine more often; almost immediately after this post everything went on a tear and I blew past that mark. Of course, now that I'm posting a positive message, the markets will probably sink for a while.
I need to decide when to start ramping up my bond/fixed allocation. I've mostly been planning on doing it once I give my notice and have a firm date; not sure if I'm going to stick to that or not. Perhaps once I start house hunting in the new location.
If you’ve hit your target, why not start dialing it in now? I’ve started increasing my bond holdings and will continue it for the next year until I hit the desired portfolio allocation. (Look up “bond tent” for the theory behind it.)
Post by: Arbitrage on December 02, 2019, 03:02:49 PM
My stash keeps on banging its head against the same ceiling. Every time I approach that level, the markets pull back. It's not even a particularly meaningful threshold, but I'm sick of it! I was hoping today would be the day to finally get over the hump, but once again, it looks like it's going to dip (with my AA perhaps $1000-2000).
Just something to keep my mind occupied during this boring stretch of saving.
Apparently I need to whine more often; almost immediately after this post everything went on a tear and I blew past that mark. Of course, now that I'm posting a positive message, the markets will probably sink for a while.
I need to decide when to start ramping up my bond/fixed allocation. I've mostly been planning on doing it once I give my notice and have a firm date; not sure if I'm going to stick to that or not. Perhaps once I start house hunting in the new location.
If you’ve hit your target, why not start dialing it in now? I’ve started increasing my bond holdings and will continue it for the next year until I hit the desired portfolio allocation. (Look up “bond tent” for the theory behind it.)
Sorry to confuse - I haven't hit my target; I still need quite a bit more. I'm well aware of bond tents, but my target is aggressive enough that I'm not ready to start tenting, though I've always had a chunk of bonds. I may consider increasing the bond allocation if I hit the point where I can make the goal strictly on expected contributions, with no more asset growth required. If not then, I probably would once reaching our FI number.
Post by: Buffaloski Boris on December 15, 2019, 06:53:57 AM
Post by: tipster350 on December 15, 2019, 07:53:33 AM
Tic Toc Tic Toc. Less than 400 days till our cohort is on deck.
It's starting to get real! I calculated that if I go with my currently planned FIRE date of 4/30/21, I have 316 working days left. Soon, the number of working days will be under 300. Compared to the many thousands of working days already on the books, this is nothing!
Post by: Arbitrage on December 15, 2019, 08:46:34 AM
Post by: Chaplin on December 15, 2019, 09:46:41 AM
Tic Toc Tic Toc. Less than 400 days till our cohort is on deck.
Love it! I put a countdown on my journal title because I'm thinking the same way. Once Jan. 1 rolls around we can say "next year." It's going to be a slog until then, but it's starting to feel close enough I'm feeling energized rather than beaten down about grinding it out.
Post by: tipster350 on December 23, 2019, 07:00:55 AM
The anticipation is ultra high. I can't wait!
Post by: tipster350 on December 31, 2019, 10:02:23 PM
Post by: Buffaloski Boris on December 31, 2019, 10:04:23 PM
WE ARE FIREING NEXT YEAR!
WOOOOHOOOOO!!!!!!!!
HAPPY NEW YEAR!
Next year RETIRED!!!!
Post by: Mmm_Donuts on January 01, 2020, 09:42:19 AM
Sept 1 2019: 73.5% towards FIRE goal.
I'll put a date out there: April 1 2021.
2019 was a really good year financially. We started out at ~67% towards out FIRE # and ended the year at 80%. Still on track for 2021!
This stage is really exciting and nerve wracking. I am feeling really impatient but I know it'll be worth it to hang in for another year.
We may not have gains like we did in 2019 but I'm hoping for a modest increase to bring us closer to the finish line.
Gooooogogogogo team 2021 :)
Post by: dblaace on January 01, 2020, 11:34:08 AM
Post by: ScreamingHeadGuy on January 01, 2020, 02:29:33 PM
2020 is looking to be my "One More Year". As long as the market doesn't tank the financial aspect is all set and I just need to get myself (mentally and physically) ready to RE. Time to re-review the "Pre-FIRE Checklist" thread in the Post-FIRE forum page and re-check my plan. Maybe post a case study just to see if there are any glaring mistakes/assumptions.
I will be experiencing all kinds of things that I hope to never again experience from a working-man perspective: one more year of three-day weekends for Memorial Day, Independence Day, and Labor Day; one more performance review. Holy shit - one more (Maybe? Depends how long I think I'll work in January.) open enrollment period at work!
Finances:
December 2018 - 79.7%
January 2019 - 85.9%
February 2019 - 90.6%
March 2019 - 92.1%
April 2019 - 95.2%
May 2019 - 91.6%
June 2019 - 97.7%
July 2019 - 99.6%
August 2019 - 99.0%
September 2019 - 100.5% (28.1 x expenses)
October 2019 - 102.4% (28.7 x expenses)
November 2019 - 105.0% (29.4 x expenses)
December 2019 - 107.3% (30.0 x expenses)
Hooray! Look at that - 27.6% increase over one year. What a freaking awesome job Mr. Market has done in 2019 (of course, it set itself up nicely based on 2018's end...). Here's hoping for above-average returns this next year.
I rebalanced again today. I had to add a bond fund to my IRA (previously I'd just converted all the VTSAX in my wife's IRA and Roth IRA to VBTLX to rebalance). Couldn't even make it "balance" with our 2020 contributions. Truly a Mustachian People Problem (MPP).
Life:
I did some work travel earlier in the month to the west coast - one afternoon out, a morning of work, and an afternoon return. Doesn't really seem worth it, but it's what the client wants.
This has been the busiest December of work I can remember. Usually the end-of-year is calm as clients are relaxing between Thanksgiving and New Year, but this year the clients were restless and eager to get stuff ready for the 2020 construction season.
One last work-related item: this year I got the smallest bonus since I've been working at my current employer. Even though, I felt, like I had done the best work these past 12 months that I've done in a calendar year - go figure. One more tick mark in the "time to FIRE" column.
My house was reassessed this past year and, therefore, my property tax bill increased about 10% from last year. That was a "not positive" event in this past month. But it's not really significant in the larger scheme of my life.
The Christmas-celebration marathon was alright. The extended family is doing fine. My host daughter bought me a (stupid, unmustaschian) car "outfit" so I can decorate my car to look like a reindeer; I hope I put on a brave enough face when I opened it up (and thought of how many of our world's precious resources went into creating this donation-pile fodder). I did get my usual-requested-present - an assortment of gourmet sodas; enough for a almost whole year of consumption (I drink about 2 per month).
My wife, daughter, and I got colds from somebody (I think I had the worst of it - the cold led to me sleeping in a weird position which resulted in a sore neck and shoulder for 1.5 weeks; I can still feel the soreness a bit). That's another "not positive" thing from last month, but it also reinforced how precious my (general) good health is so I also got some psychological benefit out of it.
Post by: frizzywhiskers on January 01, 2020, 03:53:49 PM
Two.....full.....years to go........
It seems so close but yet so very very far still. A new wrinkle in the plan is my year end bonus. Original plan was to work the full year of 2021 in order to get my full bonus to be received in February 2022. Now I’ve realized company policy is you need to be employed on Feb. 28 to receive the bonus for previous year. Unless I can negotiate something here I may have to slide my date to spring 2022. But for now I shall remain in this cohort as you never know what the New Year will hold!
We have much to do and plan in 2020 so I hope having that to focus on will help. We are planning on selling our house in spring, renting a condo closer to work, and building our retirement home in the mountains with a start date sometime this year. House sale pricing and new build costs will definitely add to the clarity on our FiRE date. Exciting things on the horizon! 😁
Post by: TheContinentalOp on January 02, 2020, 08:39:44 AM
My spending in 2019 amounted to a 2.0% WR from my stash, but I expect my spending to go up in retirement with more travel.
Even though I pushed back my FIRE date from 2 to 14 months, I am still experiencing anxiety over the idea of not having a paycheck. I hope to overcome that in the next year.
Post by: Arbitrage on January 02, 2020, 09:05:04 AM
Most of the extra 'vacation/entertainment/frivolous' spending was on items that I have been incorporating more into my/our lives and want to be big parts of our RE lives: a car-top carrier for camping/ski trips, ski passes and gear, an inflatable kayak and kayaking gear, bike gear. Also took a few nice vacations.
Post by: tipster350 on January 06, 2020, 09:16:20 AM
4/30/2021.
Post by: moneypitfeeder on January 06, 2020, 05:56:35 PM
Post by: ScreamingHeadGuy on January 08, 2020, 07:48:43 PM
At dinner yesterday I was joking with her how, if she keeps doing this job after I FIRE, she’ll be the “breadwinner” in our house but I’ll still be the “breadstick winner” - because I grabbed the last breadstick. Tasty victory!
Post by: Buffaloski Boris on January 11, 2020, 08:45:59 AM
I am ready to set my FIRE date. It is subject to change based on possible bonus cycle changes at my employer and how much more I can take in the corporate trenches. But if I can hold on at my job, and the bonus cycle doesn't change, I'll be out on
4/30/2021.
Congrats! That’s only 15 months.
Post by: Buffaloski Boris on January 11, 2020, 08:49:18 AM
We’ll see how it goes.
Post by: the_fixer on January 11, 2020, 09:05:50 AM
Towards the end of 2019 I was thinking about going OMY because my fire date is in October of 21 and I am not a fan of winter and my wife is set for Aug of 22.
Figured we will still be FI mid 2021 but if I worked into spring of 22 I could fill up my HSA, 401k, both Roth’s and as soon as 22 starts I get an additional year credit to my retirement.
However last week my work announced that they are closing 3 locations and my team will be impacted by the end of 2020 so they are going to offer early retirement and some packages.
Depending on the offer I might put up my hand and take a package so my Fire date could be anywhere between a month from now to spring of 2022
The best laid plans and all of that LOL
I will say that while all of the rest of the rats were scurrying around worrying my first thought was hmmmm maybe I can get a sweet package and FIRE early... MMM problems
Post by: ScreamingHeadGuy on January 11, 2020, 09:48:44 AM
New year has brought some uncertainty to my plans.
Towards the end of 2019 I was thinking about going OMY because my fire date is in October of 21 and I am not a fan of winter and my wife is set for Aug of 22.
Figured we will still be FI mid 2021 but if I worked into spring of 22 I could fill up my HSA, 401k, both Roth’s and as soon as 22 starts I get an additional year credit to my retirement.
However last week my work announced that they are closing 3 locations and my team will be impacted by the end of 2020 so they are going to offer early retirement and some packages.
Depending on the offer I might put up my hand and take a package so my Fire date could be anywhere between a month from now to spring of 2022
The best laid plans and all of that LOL
I will say that while all of the rest of the rats were scurrying around worrying my first thought was hmmmm maybe I can get a sweet package and FIRE early... MMM problems
That’s potentially awesome news for you!
Post by: Buffaloski Boris on January 11, 2020, 03:47:51 PM
New year has brought some uncertainty to my plans.
Towards the end of 2019 I was thinking about going OMY because my fire date is in October of 21 and I am not a fan of winter and my wife is set for Aug of 22.
Figured we will still be FI mid 2021 but if I worked into spring of 22 I could fill up my HSA, 401k, both Roth’s and as soon as 22 starts I get an additional year credit to my retirement.
However last week my work announced that they are closing 3 locations and my team will be impacted by the end of 2020 so they are going to offer early retirement and some packages.
Depending on the offer I might put up my hand and take a package so my Fire date could be anywhere between a month from now to spring of 2022
The best laid plans and all of that LOL
I will say that while all of the rest of the rats were scurrying around worrying my first thought was hmmmm maybe I can get a sweet package and FIRE early... MMM problems
This has got to be about the only place where people get congratulated on a potential layoff.
That’s awesome news. Congrats.
Post by: lightmyfire on January 14, 2020, 03:56:40 PM
Post by: Buffaloski Boris on January 14, 2020, 04:38:27 PM
Hello! I've been knocking around 2021 as a date for awhile, but it seemed mostly like a daydream. Technically bare-bones FI, but too close to the edge. I ended up reaching FI sooner than expected in 2019, and am looking at a FIRE date of June-Sep 2021. Depends on whether I want to roll out Plan A (living nomadically in a trailer) or Plan B (renting a home base, probably in Tucson) and doing the trailer thing part time. I'm just excited to finally make it "official" somewhere and be part of a cohort!
Welcome to the 2021 cohort! We’re the quiet cohort. But, with all due modesty, the best cohort.
Post by: ScreamingHeadGuy on January 14, 2020, 08:33:33 PM
Hello! I've been knocking around 2021 as a date for awhile, but it seemed mostly like a daydream. Technically bare-bones FI, but too close to the edge. I ended up reaching FI sooner than expected in 2019, and am looking at a FIRE date of June-Sep 2021. Depends on whether I want to roll out Plan A (living nomadically in a trailer) or Plan B (renting a home base, probably in Tucson) and doing the trailer thing part time. I'm just excited to finally make it "official" somewhere and be part of a cohort!
Welcome to the 2021 cohort! We’re the quiet cohort. But, with all due modesty, the best cohort.
The first rule of 2021 is “Do not talk about 2021.”
Wait - did I just break the rule?
Either way, welcome aboard. You have been added to a list.
Post by: icebox92 on January 15, 2020, 04:40:39 PM
Whew... I'm both nervous, scared, and super excited to finally say that "outloud"!
Post by: Buffaloski Boris on January 15, 2020, 05:14:29 PM
I've held off putting a date out there in you know, the public sphere... What if I change my mind, everyone will crucify me! Obviously not a real concern. Right now we've hit FI, but DH can't get his head around the idea of actually walking away, and he has one more promotion he wants to achieve which will most likely come this year. Me? Well I'm currently pregnant with our 2nd child and have way too much loyalty to the company we work for (both DH and I work for the same company). I'm thinking I will use the birth of my child as an excuse to actually leave. Go on maternity leave, have baby, come back for a few months to collect 401K, and bonus distributions, and then leave on good terms... (I really just need to stay home with my children right now). I don't think DH will join me, but maybe? If not, he better not be more than a year after me ;) So all that to say, put me down for 4/30/21!
Whew... I'm both nervous, scared, and super excited to finally say that "outloud"!
4/30/21 it is! And if you don't make the date, so what? The Retirement Police flee in terror from the 2021 cohort. Because of The Rules.
The Rules:
1. The first rule of 2021 cohort is, we don't talk about 2021 cohort.
2. The second rule of 2021 cohort is WE DON'T TALK ABOUT 2021 COHORT!
3. The third rule of 2021 cohort is that Retirement Police are subjected to scorn, ridicule, derision, jokes, rains of newts, bullying, wedgies, and revenge haiku. If all else fails, they are cursed with (gasp!) a plague of cute Shiba Inu puppies. Yes we might be the best cohort, but we are exceptionally cruel. It's all part of The Rules ya know.
4. And the fourth rule is that if you're a member of the 2021 retirement cohort, you have to retire. Eventually. On your terms and timeline. When you feel like it. Maybe.
Welcome aboard! Congrats on the baby. Just think, you'll be able to tell your baby all sorts of almost true and only slightly exaggerated tales of the adventures of the 2021 cohort.
Post by: icebox92 on January 15, 2020, 05:34:59 PM
I've held off putting a date out there in you know, the public sphere... What if I change my mind, everyone will crucify me! Obviously not a real concern. Right now we've hit FI, but DH can't get his head around the idea of actually walking away, and he has one more promotion he wants to achieve which will most likely come this year. Me? Well I'm currently pregnant with our 2nd child and have way too much loyalty to the company we work for (both DH and I work for the same company). I'm thinking I will use the birth of my child as an excuse to actually leave. Go on maternity leave, have baby, come back for a few months to collect 401K, and bonus distributions, and then leave on good terms... (I really just need to stay home with my children right now). I don't think DH will join me, but maybe? If not, he better not be more than a year after me ;) So all that to say, put me down for 4/30/21!
Whew... I'm both nervous, scared, and super excited to finally say that "outloud"!
4/30/21 it is! And if you don't make the date, so what? The Retirement Police flee in terror from the 2021 cohort. Because of The Rules.
The Rules:
1. The first rule of 2021 cohort is, we don't talk about 2021 cohort.
2. The second rule of 2021 cohort is WE DON'T TALK ABOUT 2021 COHORT!
3. The third rule of 2021 cohort is that Retirement Police are subjected to scorn, ridicule, derision, jokes, rains of newts, bullying, wedgies, and revenge haiku. If all else fails, they are cursed with (gasp!) a plague of cute Shiba Inu puppies. Yes we might be the best cohort, but we are exceptionally cruel. It's all part of The Rules ya know.
4. And the fourth rule is that if you're a member of the 2021 retirement cohort, you have to retire. Eventually. On your terms and timeline. When you feel like it. Maybe.
Welcome aboard! Congrats on the baby. Just think, you'll be able to tell your baby all sorts of almost true and only slightly exaggerated tales of the adventures of the 2021 cohort.
HAHAHA! Thanks Buffalo Chip, I appreciate the humor and support. Feeling better already, and who knew I was unintentionally picking the best FIRE Cohort out there?! I guess I should also add my age (I'm reading through all the previous posts of the cohort so I somewhat know who the hell we are). I'll be 36 at the time of FIRE.
Post by: ScreamingHeadGuy on January 17, 2020, 07:30:30 PM
So far we have 38 folks here who will be FIRE in 2021 and 2 will OLY into 2020.
Average age of 2021ers is 46.11 (in 2021 at FIRE date). 2020 average age is 48.32 (so far). 2019 average age was 47.38.
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Post by: HumanAfterAll on January 18, 2020, 04:48:42 PM
2019 was very good for us financially. My wife worked a full time job plus a couple of contracts, which allowed us to push our savings rate up to 59% of net income, a record for us. Our spending has been stable for the last 3 years, and the market returned even more than we contributed in savings. We're at 74% FI, with 18.5 years expenses saved vs. our target of 25. Feels close, but still far away!
I've been hesitant to invest new money into stocks at these prices for a year now. I've allowed our cash (vmfxx) to grow to 5% of our portfolio (~1 year's expenses right now). We are still 75% in stocks, so we're not missing out on market gains, just waiting for better buying opportunities. The gold I bought last year gave a healthy return, but it's still high, so I'm not buying more gold either. And the combination of high stocks and high gold is a pretty strong end-of-cycle signal for me.
I haven't figured out how large I'll let our cash allocation grow before I bite the bullet and buy stocks at record prices. If it gets to 2.5X our annual expenses, I'll be able to pay off our mortgage, which would reduce our income needs quite a bit, to help with taxes and maybe health care subsidies in retirement.
Work got much better for me last year, with a transfer to a very interesting project that is in a fun phase right now (we're not late or in deep technical trouble yet). I left a program with a toxic leadership team last year, and while I feel fully recovered, I have some dread that in another year or two, my current program will turn into the same mess. It helps to have some light at the end of the tunnel in case it goes badly. On the other hand, if things go well, it will be hard to leave next year. We will be in the thick of some historic developments, and if it's still fun, I'll probably stick around for OMY.
My wife didn't renew her additional contract gigs this year, so she is already enjoying a return to a normal workload. She cancelled a big hiking trip last year because she didn't have time and mental energy to plan it, which was a first for us and very disappointing - not the lifestyle we want to have. She's not too keen on retiring next year, so we have some conversations ahead of us about what it would look like if I stopped working before her.
We finished a satisfying house project, adding an office in our garage (my wife works from home full time and the kitchen table wasn't cutting it). I learned a few more DIY skills without it taking so long I hated it. I look forward to building more skills and tackling bigger projects in retirement!
Our fitness efforts last year fell apart, so we decided to buy a Peloton. My wife had wanted one for a while, and some friends sold us on it. I've been listening to a lot of podcasts on health and healthspan, and as a 42 year old with a 4 year old daughter, I want to be as physically and mentally healthy as possible for as long as I can. We decided health is an area worth spending more than the minimum. Pro tip: search classifieds for misspellings, I found a "peleton" for half price :) It's been great, we totally love it and we even have to negotiate who rides it first 3 days a week. We're also expanding the workout space for dumbbell and body-weight exercises.
I feel very lucky to be in this position, with so many options and choices ahead of us!
Post by: Mmm_Donuts on January 20, 2020, 07:42:54 AM
So far YTD the market increase + dividends on my registered accounts = 2.8x my take home pay over the same time period. And my registered accounts are just about 30% of our LNW.
And this same increase is about 5x my monthly spending. This is nuts.
So - either we reach our FI number way early! Or it'll be a roller coaster ride of a year. At last tally we were about 80% to our number. I'm hoping to be at 90% by the end of the year (with the last 10% coming from a house downsize) but maybe we'll make it to 100% by market gains alone?
It's leading me to all sorts of thoughts of OLY as I'm not really liking my job these days. But this can't last so quitting now would be unwise.
ETA: Conclusion: it's time to stop worrying about work. I can quit now and it will be Ok. I can go part time, and it'll be Ok. I can completely slack off, and it will be ok. There is literally no reason to worry or get stressed anymore. I have to let that news sink in.
Post by: bluebelle on January 20, 2020, 08:58:25 AM
I had planned 2020 to be my exit year - DH's last day in the office will be June 30ish 2020, but on the payroll until mid Sept (he has alot of vacation carry over). I had planned to have a similar end date, but OMY has gotten to me. We are moving the summer of 2020, and the unknowns have me a little freaked out.....I live in a hot housing market, but am unsure how much I'll get for our current house, I have a ballpark, but fingers crossed that I'll get more, but there's always a chance I'll get less. Also, we're having the new place built, and it has cost more than I planned (but I can afford what we're spending, it's just alot of $$$) and I'd like at least six months of living expenses in the new place under my belt before I pull the plug. And the 2019 bonus was good, with a very nice raise and a long term incentive stock award.....which has me leaning toward April 2021 to get a well deserved bonus and another year stock award.....working on the assumption that my job will continue as it is. I like what I do, who I work with and for - if that changes, I'll reevaluate and exit earlier.
Post by: Mmm_Donuts on January 20, 2020, 09:57:05 AM
Post by: bluebelle on January 20, 2020, 10:09:13 AM
Hi @bluebelle - I’m in Toronto too! Sounds like we have similar plans in terms of downsizing. It’s crazy what’s happened to housing here. Good luck with your plans!! :fist bump:thanks @Mmm_Donuts ......2020 is going to be an exciting and terrifying year (2019 was). Is your plan to move out of Toronto in 2020 as well?
There a many parts of 2020 I am not looking forward to.....we've been in the current house for 21 years, we're both pack rats (he thinks all his stuff is gold, I know alot of mine needs to go, his too, but that will be a struggle, he macguyvers one thing and it is justification to keep all 'stuff'). I hate moving and this is a big move, 250km north, with alot more stuff than I've ever had. The new house is bigger, so it will need more furniture, not less.
Post by: AO1FireTo on January 20, 2020, 10:17:17 AM
Hi @bluebelle - I’m in Toronto too! Sounds like we have similar plans in terms of downsizing. It’s crazy what’s happened to housing here. Good luck with your plans!! :fist bump:thanks @Mmm_Donuts ......2020 is going to be an exciting and terrifying year (2019 was). Is your plan to move out of Toronto in 2020 as well?
There a many parts of 2020 I am not looking forward to.....we've been in the current house for 21 years, we're both pack rats (he thinks all his stuff is gold, I know alot of mine needs to go, his too, but that will be a struggle, he macguyvers one thing and it is justification to keep all 'stuff'). I hate moving and this is a big move, 250km north, with alot more stuff than I've ever had. The new house is bigger, so it will need more furniture, not less.
I'm in Toronto too, cashing the house in would put me firmly in FI.. Although DW is not onboard yet... I don't think she's up for a smaller community with a LCOL... oh well...
Post by: Mmm_Donuts on January 20, 2020, 12:53:56 PM
thanks @Mmm_Donuts ......2020 is going to be an exciting and terrifying year (2019 was). Is your plan to move out of Toronto in 2020 as well?
There a many parts of 2020 I am not looking forward to.....we've been in the current house for 21 years, we're both pack rats (he thinks all his stuff is gold, I know alot of mine needs to go, his too, but that will be a struggle, he macguyvers one thing and it is justification to keep all 'stuff'). I hate moving and this is a big move, 250km north, with alot more stuff than I've ever had. The new house is bigger, so it will need more furniture, not less.
We're planning a move to a different province after we FIRE. It's a huge move for us and we'll be doing a trial run in our new location, renting out there while we still own our house here, just to make sure the LCOL / more rural area is the right fit. It may all happen in 2021 or possibly the following year.
@princeradar we are in a similar position. I have been ready for this move for a while now but my SO is not as eager to do this move. This is where the trial period is key. We need the actual experiential data to figure it out. Will we really be happy there? Or am I just fantasizing about what it's like to live a quieter life? There are parts of TO I really like. We live in a great area that I DO really like. So - it is an experiment. If it were only about the money it would be a no brainer to move somewhere cheaper and retire, but there are a lot of factors, there's a lot of tradeoffs.
Post by: bluebelle on January 20, 2020, 01:32:48 PM
other than the easy access to ethnic ingredients and food, there is little about Toronto I like, but the shitty traffic may be wiping out any good in the city. Too many Toronto drivers are jerks. I watched someone cut off a snowplow Saturday night just to turn into an apartment building driveway, instead of tucking in behind the plow. There was karma justice though, I watched them spin their tires trying to get in the driveway.thanks @Mmm_Donuts ......2020 is going to be an exciting and terrifying year (2019 was). Is your plan to move out of Toronto in 2020 as well?
There a many parts of 2020 I am not looking forward to.....we've been in the current house for 21 years, we're both pack rats (he thinks all his stuff is gold, I know alot of mine needs to go, his too, but that will be a struggle, he macguyvers one thing and it is justification to keep all 'stuff'). I hate moving and this is a big move, 250km north, with alot more stuff than I've ever had. The new house is bigger, so it will need more furniture, not less.
We're planning a move to a different province after we FIRE. It's a huge move for us and we'll be doing a trial run in our new location, renting out there while we still own our house here, just to make sure the LCOL / more rural area is the right fit. It may all happen in 2021 or possibly the following year.
@princeradar we are in a similar position. I have been ready for this move for a while now but my SO is not as eager to do this move. This is where the trial period is key. We need the actual experiential data to figure it out. Will we really be happy there? Or am I just fantasizing about what it's like to live a quieter life? There are parts of TO I really like. We live in a great area that I DO really like. So - it is an experiment. If it were only about the money it would be a no brainer to move somewhere cheaper and retire, but there are a lot of factors, there's a lot of tradeoffs.
Post by: Mmm_Donuts on January 20, 2020, 01:47:07 PM
Post by: ScreamingHeadGuy on January 20, 2020, 03:14:25 PM
This will be quite a change. I think I will miss the bike commute during summer. But I will not miss the commute in general.
Post by: frugalecon on January 21, 2020, 07:19:58 PM
Post by: ALDI on January 23, 2020, 12:37:07 PM
Checking in to announce that today I was forced to OLY to 2020!
Been on a business trip to the HQ for two days. My annual review meeting this morning 0900am. Boss comes with HR, both with grave faces. They fired me and now I am FIRE'd one year earlier than planned. My emotional situation right now: I am 3/4 incredibly happy and relieved and so thankful for discovering MMM in 2013 to make this possible. The remaining 1/4 is negative emotions like anxiety that this chapter in my book of life is finally and definitely closing and uncertainty what is left from my personality after driving on the speed lane for 25 years in my business life.
The last year was really different, I started to refuse to internalize all the BS that I received from both the team members reporting to me and my boss. I think I subconsciously pushed the FIRE button. I still like my trade though, maybe I will do some part time or some consulting gigs.
If everything goes well I will receive a total severance package of 2 annual salaries. I am now wondering if this amount of cash together with my current 12.5% cash allocation is is a big enough "tent" to be prepared for adverse markets. In other words is the 75 to 90 % rising Equity Glidepath safe enough for me?
Final day in the office: Jan 30 2020
I cannot get my head around it...incredible
Post by: HumanAfterAll on January 23, 2020, 01:12:50 PM
It certainly sounds shocking, but in the end they may have accelerated you to where you wanted to be, a year ahead of time. Good luck with the severance, and with mentally processing this abrupt change!
Post by: tipster350 on January 23, 2020, 02:28:39 PM
Hi all!
Checking in to announce that today I was forced to OLY to 2020!
Been on a business trip to the HQ for two days. My annual review meeting this morning 0900am. Boss comes with HR, both with grave faces. They fired me and now I am FIRE'd one year earlier than planned. My emotional situation right now: I am 3/4 incredibly happy and relieved and so thankful for discovering MMM in 2013 to make this possible. The remaining 1/4 is negative emotions like anxiety that this chapter in my book of life is finally and definitely closing and uncertainty what is left from my personality after driving on the speed lane for 25 years in my business life.
The last year was really different, I started to refuse to internalize all the BS that I received from both the team members reporting to me and my boss. I think I subconsciously pushed the FIRE button. I still like my trade though, maybe I will do some part time or some consulting gigs.
If everything goes well I will receive a total severance package of 2 annual salaries. I am now wondering if this amount of cash together with my current 12.5% cash allocation is is a big enough "tent" to be prepared for adverse markets. In other words is the 75 to 90 % rising Equity Glidepath safe enough for me?
Final day in the office: Jan 30 2020
I cannot get my head around it...incredible
Congratulations, Aldi! If my employer ever threw 2 years worth of salary at me (never going to happen) I'd run for the exit!
Post by: ScreamingHeadGuy on January 23, 2020, 04:45:32 PM
Hi all!
Checking in to announce that today I was forced to OLY to 2020!
Been on a business trip to the HQ for two days. My annual review meeting this morning 0900am. Boss comes with HR, both with grave faces. They fired me and now I am FIRE'd one year earlier than planned. My emotional situation right now: I am 3/4 incredibly happy and relieved and so thankful for discovering MMM in 2013 to make this possible. The remaining 1/4 is negative emotions like anxiety that this chapter in my book of life is finally and definitely closing and uncertainty what is left from my personality after driving on the speed lane for 25 years in my business life.
The last year was really different, I started to refuse to internalize all the BS that I received from both the team members reporting to me and my boss. I think I subconsciously pushed the FIRE button. I still like my trade though, maybe I will do some part time or some consulting gigs.
If everything goes well I will receive a total severance package of 2 annual salaries. I am now wondering if this amount of cash together with my current 12.5% cash allocation is is a big enough "tent" to be prepared for adverse markets. In other words is the 75 to 90 % rising Equity Glidepath safe enough for me?
Final day in the office: Jan 30 2020
I cannot get my head around it...incredible
Holy crap! You sure put yourself into a good position and look how life just seems to play into your hands.
I would certainly think you can start drawing down your cash position to mitigate sequence return risk.
Post by: moneypitfeeder on January 24, 2020, 05:33:41 PM
The roster is updated for everybody through post #352
So far we have 38 folks here who will be FIRE in 2021 and 2 will OLY into 2020.
Average age of 2021ers is 46.11 (in 2021 at FIRE date). 2020 average age is 48.32 (so far). 2019 average age was 47.38.
You can add me to the list, age 41 (at FI 42), FI date 1/15/2021!!
Post by: ScreamingHeadGuy on January 24, 2020, 08:42:23 PM
So far we have 37 folks here who will be FIRE in 2021 and 4 will OLY into 2020.
Average age of 2021ers is 46.11 (in 2021 at FIRE date). 2020 average age is 48.32 (so far). 2019 average age was 47.38.
|
Post by: TheContinentalOp on January 31, 2020, 07:14:26 AM
Post by: ScreamingHeadGuy on February 02, 2020, 07:17:10 PM
December 2018 - 79.7%
January 2019 - 85.9%
February 2019 - 90.6%
March 2019 - 92.1%
April 2019 - 95.2%
May 2019 - 91.6%
June 2019 - 97.7%
July 2019 - 99.6%
August 2019 - 99.0%
September 2019 - 100.5% (28.1 x expenses)
October 2019 - 102.4% (28.7 x expenses)
November 2019 - 105.0% (29.4 x expenses)
December 2019 - 107.3% (30.0 x expenses)
January 2020 - 109.3% (30.6 x expenses)
Financial results are mainly driven by lump-sum contributions to my/wife's IRA accounts. 401(k) contributions are up and running again for the new year (should max out in September). Some bond funds zigged while the equity funds zagged.
We still owe $1700 on our mortgage. I could just kill that with cash, but somehow cannot pull the trigger on it. (And, yes, that money is just going to sit in cash and not be invested in the meantime; one year out from FIRE I want to add some cash cushion. So I'm being sub-optimal by NOT paying off my mortgage in this case. Oh well - it's okay to be sub-optimal as long as you're aware of it and okay with it.)
Life:
Starting on 1/29 I started my work-from-home status. Based on my <1 week data-set I'd say this change will take some getting used to. I am DOING work, but I don't feel like I'm AT work. I guess this could be a good ease-into-FIRE state of employment - more to come.
Had my first father-daughter dance for my girl (now 6 years old), hosted by the Girlscouts. It was fun to get dressed up and go on a "date" with the kid. I now know what it is like to be surrounded by dozens of girls shouting out "Let it go! Let it go!" and running around - this is a thing every man should experience once in his life.
Wife's PT job started two weeks ago. She enjoys it enough so far - a change of pace for her to get out and be "productive" (because a stay-at-home parent doesn't count towards GDP, no matter how much real work they do). We used grandparent help with drop-off/pick-up from school while I was still working at the office, but I was able to do it this past week - just another example of how blessings just seem to be falling into our lap.
I haven't been reading as much as I'd like to lately, but there is only so much time in a day and I've made the decision to do other things with my evenings. I'm sure there will come a time when I re-prioritize my time again and lament something else then.
Post by: Peter Parker on February 03, 2020, 06:33:42 PM
Good news. After taking a look at finances, I'm moving my retirement date up from 7/12/2021 to 6/1/2021. I'm hoping upon further refinement I can move this up further, but for now this is my new dated :-)
More good news...I'm moving up my retirement date again...On April 30, 2021 at 5:00 pm, I will be retired. I'm unlikely to move the date up further, and there is a small chance I could move it back to the 6/1/2021, but for now 4/30/2021 at 5:00 pm is it!
Some might be interested in how I'm moving my date UP...I have basically been FI for awhile now, but I really have enjoyed my job. For a number of reasons, I had set 7/12/2021 as my retirement goal. But since I've been FI, I have been exhibiting a WTF attitude at work--giving my un-asked for opinion, sticking my nose where I didn't dare before, and more or less acting more like myself at work. This has resulted in a PROMOTION and TWO RAISES. Normally, I would have declined the promotion because I wouldn't want the hassle. But I figured WTF, I'll take the promotion, supervise people they way I wanted to be supervised (i.e. with respect and dignity), and generally not give a crap about the ramifications.
I'm getting nothing but accolades--go figure. However the Bullcrap at the level I'm at now is palpable. I'm gong to try and put in place some positive changes for the little guys and then get the F out...
Post by: Roots&Wings on February 04, 2020, 06:40:29 AM
But since I've been FI, I have been exhibiting a WTF attitude at work--giving my un-asked for opinion, sticking my nose where I didn't dare before, and more or less acting more like myself at work. This has resulted in a PROMOTION and TWO RAISES.
Nice! The "Office Space" effect :)
Post by: FIRE Artist on February 05, 2020, 06:40:46 PM
98% funded to lifestyle target
37 x’s basic expenses including mortgage
64 x’s basic expenses excluding mortgage
My game plan now is that anything above 100% of lifestyle target will be earmarked to be dumped (as much as is allowed) into the mortgage until my current contract runs out end of Q1 2021. If things carry on as they have been, I should be able to pay off the note when my mortgage comes up for renewal next year. Dovetails nicely with my planned FIRE date.
Being mortgage free removes most sequence of returns risk for me, if TSHTF, I could pay my basic expenses with dividends only.
Post by: AO1FireTo on February 05, 2020, 07:37:05 PM
Today I sit at:
98% funded to lifestyle target
37 x’s basic expenses including mortgage
64 x’s basic expenses excluding mortgage
My game plan now is that anything above 100% of lifestyle target will be earmarked to be dumped (as much as is allowed) into the mortgage until my current contract runs out end of Q1 2021. If things carry on as they have been, I should be able to pay off the note when my mortgage comes up for renewal next year. Dovetails nicely with my planned FIRE date.
Being mortgage free removes most sequence of returns risk for me, if TSHTF, I could pay my basic expenses with dividends only.
Wow seems like you are in awesome shape. Imagine being mortgage free and having 64 x's basic expenses. You should be able to sleep pretty well. Congrats.
Post by: FIRE Artist on February 05, 2020, 07:58:13 PM
Today I sit at:
98% funded to lifestyle target
37 x’s basic expenses including mortgage
64 x’s basic expenses excluding mortgage
My game plan now is that anything above 100% of lifestyle target will be earmarked to be dumped (as much as is allowed) into the mortgage until my current contract runs out end of Q1 2021. If things carry on as they have been, I should be able to pay off the note when my mortgage comes up for renewal next year. Dovetails nicely with my planned FIRE date.
Being mortgage free removes most sequence of returns risk for me, if TSHTF, I could pay my basic expenses with dividends only.
Wow seems like you are in awesome shape. Imagine being mortgage free and having 64 x's basic expenses. You should be able to sleep pretty well. Congrats.
Thanks, the voice of my inner bag lady is down to a whisper this week. Even just 3 months ago I was having doubts, I was at 93% funded and she was still shouting at me about that damn mortgage. What a difference three months can make when the markets are hot.
Post by: Buffaloski Boris on February 05, 2020, 08:58:55 PM
Today I sit at:
98% funded to lifestyle target
37 x’s basic expenses including mortgage
64 x’s basic expenses excluding mortgage
My game plan now is that anything above 100% of lifestyle target will be earmarked to be dumped (as much as is allowed) into the mortgage until my current contract runs out end of Q1 2021. If things carry on as they have been, I should be able to pay off the note when my mortgage comes up for renewal next year. Dovetails nicely with my planned FIRE date.
Being mortgage free removes most sequence of returns risk for me, if TSHTF, I could pay my basic expenses with dividends only.
Nice. So you think you’re going to bail with the rest of us then?
Post by: FIRE Artist on February 05, 2020, 09:17:18 PM
Today I sit at:
98% funded to lifestyle target
37 x’s basic expenses including mortgage
64 x’s basic expenses excluding mortgage
My game plan now is that anything above 100% of lifestyle target will be earmarked to be dumped (as much as is allowed) into the mortgage until my current contract runs out end of Q1 2021. If things carry on as they have been, I should be able to pay off the note when my mortgage comes up for renewal next year. Dovetails nicely with my planned FIRE date.
Being mortgage free removes most sequence of returns risk for me, if TSHTF, I could pay my basic expenses with dividends only.
Nice. So you think you’re going to bail with the rest of us then?
Yup, I will be out of a job next year anyway because I am in a temporary position and the local economic climate is not favourable towards an extension. Having the decision made for me helps.
Post by: TheContinentalOp on February 06, 2020, 06:33:43 PM
While I funded my Roth IRA and am maxing out my 401-k, I am no longer putting any taxable money into the market. Instead I am working on accumulating 2 years of expenses in cash equivalents. I also turned off auto-reinvest in my taxable accounts. First steps I have taken toward moving into FIRE mode.
Post by: Buffaloski Boris on February 07, 2020, 04:30:02 AM
Today I sit at:
98% funded to lifestyle target
37 x’s basic expenses including mortgage
64 x’s basic expenses excluding mortgage
My game plan now is that anything above 100% of lifestyle target will be earmarked to be dumped (as much as is allowed) into the mortgage until my current contract runs out end of Q1 2021. If things carry on as they have been, I should be able to pay off the note when my mortgage comes up for renewal next year. Dovetails nicely with my planned FIRE date.
Being mortgage free removes most sequence of returns risk for me, if TSHTF, I could pay my basic expenses with dividends only.
Nice. So you think you’re going to bail with the rest of us then?
Yup, I will be out of a job next year anyway because I am in a temporary position and the local economic climate is not favourable towards an extension. Having the decision made for me helps.
Sounds like the legend of Cortez' ships. That's cool and I'm glad for ya. Be careful, though. The more you get into this stuff, the more attractive OLY starts to look.
Post by: FIRE Artist on February 07, 2020, 05:25:35 AM
Today I sit at:
98% funded to lifestyle target
37 x’s basic expenses including mortgage
64 x’s basic expenses excluding mortgage
My game plan now is that anything above 100% of lifestyle target will be earmarked to be dumped (as much as is allowed) into the mortgage until my current contract runs out end of Q1 2021. If things carry on as they have been, I should be able to pay off the note when my mortgage comes up for renewal next year. Dovetails nicely with my planned FIRE date.
Being mortgage free removes most sequence of returns risk for me, if TSHTF, I could pay my basic expenses with dividends only.
Nice. So you think you’re going to bail with the rest of us then?
Yup, I will be out of a job next year anyway because I am in a temporary position and the local economic climate is not favourable towards an extension. Having the decision made for me helps.
Sounds like the legend of Cortez' ships. That's cool and I'm glad for ya. Be careful, though. The more you get into this stuff, the more attractive OLY starts to look.
Nah, I already OMYd it into this cohort when I took this job. I actually like my job so don’t feel the need to quit before the end.
Post by: zinnie on February 07, 2020, 05:51:11 AM
We were just looking at our history last night and ironically, the year our largest income was missing from the equation was the year our NW grew the most. Go snowball effect!
Post by: tipster350 on February 07, 2020, 07:08:02 AM
Post by: Lucky13 on February 07, 2020, 11:54:01 PM
Put me down for age 55 on FIRE date 3/19/21hey I'm in 2020 cohort but just browsing this thread and the above is pretty much my strategy too. Turning off the auto-reinvest has been huge to give me confidence that I really will be getting regular income even when I quit my job. Good luck to you!
While I funded my Roth IRA and am maxing out my 401-k, I am no longer putting any taxable money into the market. Instead I am working on accumulating 2 years of expenses in cash equivalents. I also turned off auto-reinvest in my taxable accounts. First steps I have taken toward moving into FIRE mode.
Post by: Buffaloski Boris on February 08, 2020, 11:53:10 AM
Hi all--can I join? I was in 2019 a while back but ended up taking a year off work, moving to the opposite coast, and re-evaluating my number. Turns out I am now 14 months away--April 2021! My plan when I first joined MMM was to retire by 40 and now my goal hits before my 38th birthday.
We were just looking at our history last night and ironically, the year our largest income was missing from the equation was the year our NW grew the most. Go snowball effect!
Sure you can join up. Welcome! And as Russian Bot, I toast you with vodka*!
Here are the rules, just so you know:
The Rules:
1. The first rule of 2021 cohort is, we don't talk about 2021 cohort.
2. The second rule of 2021 cohort is WE DON'T TALK ABOUT 2021 COHORT!
3. The third rule of 2021 cohort is that Retirement Police are subjected to scorn, ridicule, derision, jokes, rains of newts, bullying, wedgies, and revenge haiku. If all else fails, they are cursed with (gasp!) a plague of cute Shiba Inu puppies. Yes we might be the best cohort, but we are exceptionally cruel. It's all part of The Rules ya know.
4. And the fourth rule is that if you're a member of the 2021 retirement cohort, you have to retire. Eventually. On your terms and timeline. When you feel like it. Maybe.
*(Never trust a Russian bot. They lie. Except when they don’t)
Post by: monarda on February 08, 2020, 06:46:21 PM
Post by: Buffaloski Boris on February 08, 2020, 07:02:10 PM
I've been wavering between 2021 and 2022, but I've just reached my minimum FI number. (YAY) So now it's a matter of when I FEEL LIKE retiring, as I'm able to anytime. 2022 would be best from a health insurance perspective, but I could afford it in 2021 if I wanted. I'd not be retiring FROM my job, but I haven't laid out plans for what I'd be retiring TO. If I can figure that out this year, I'm in the 2021 cohort!
Awesome! Welcome to the quiet cohort. We’re quiet because we ‘re the best 😁
Post by: American GenX on February 08, 2020, 09:06:13 PM
I thought I was going to be a 2020 cohort, but with the ACA uncertainty and elections later this year, I'll likely be holding off until 2021.
Post by: Buffaloski Boris on February 09, 2020, 05:57:59 AM
I thought I was going to be a 2020 cohort, but with the ACA uncertainty and elections later this year, I'll likely be holding off until 2021.
Welcome! We’re glad you’re here even if you decide to leave early.
Post by: 80Westy on February 09, 2020, 08:10:19 PM
Post by: Buffaloski Boris on February 10, 2020, 03:52:59 AM
I'd like to join your group! I don't think I'm really financially ready to pull the plug, but I turn 50 in May 2021 and so want to be done while in my 40s. I know this is not a great reason or plan, but it's the truth. Been off the forums for some years now. Good luck to all of you.
Welcome to the best cohort! You’re of course welcome to join us. Just be aware that there is a great and fearsome responsibility in being part of this cohort. We have rulez, unlike other, lesser cohorts I could mention😃.
No number? Meh. The retirement police tremble in fear at the mere whisper of our cohort. I don’t have a number, either.
Post by: zinnie on February 10, 2020, 08:01:41 AM
Hi all--can I join? I was in 2019 a while back but ended up taking a year off work, moving to the opposite coast, and re-evaluating my number. Turns out I am now 14 months away--April 2021! My plan when I first joined MMM was to retire by 40 and now my goal hits before my 38th birthday.
We were just looking at our history last night and ironically, the year our largest income was missing from the equation was the year our NW grew the most. Go snowball effect!
Sure you can join up. Welcome! And as Russian Bot, I toast you with vodka*!
Here are the rules, just so you know:
The Rules:
1. The first rule of 2021 cohort is, we don't talk about 2021 cohort.
2. The second rule of 2021 cohort is WE DON'T TALK ABOUT 2021 COHORT!
3. The third rule of 2021 cohort is that Retirement Police are subjected to scorn, ridicule, derision, jokes, rains of newts, bullying, wedgies, and revenge haiku. If all else fails, they are cursed with (gasp!) a plague of cute Shiba Inu puppies. Yes we might be the best cohort, but we are exceptionally cruel. It's all part of The Rules ya know.
4. And the fourth rule is that if you're a member of the 2021 retirement cohort, you have to retire. Eventually. On your terms and timeline. When you feel like it. Maybe.
*(Never trust a Russian bot. They lie. Except when they don’t)
Thanks! I am happy to hear about the lack of retirement police. I plan to do a number of things with my time, some of which might eventually (gasp!) make money.
Post by: zinnie on February 12, 2020, 05:57:46 PM
Until now I've only thought about this in a general sense but it's starting to get strangely close. When I think about taking money out instead of putting it in, I have to admit it stresses me out a bit. Just curious to hear how others are thinking about this, if you want to share. TIA!
Post by: SeaG1ant on February 13, 2020, 06:26:55 AM
Post by: ScreamingHeadGuy on February 14, 2020, 08:33:56 PM
Does anyone want to share their plans in terms of withdrawing from your 'stache after FIRE? Are you going to keep your dividends reinvesting and just sell shares? Will you do something like take out the amount you need for a period of time automatically? Or take a set amount out and wait until you run out? Are you already doing a Roth withdrawal pipeline or other strategy to get money out of retirement? Do you have/are you planning supplemental income beyond investments?
Here's the nuts-and-bolts to my withdrawal process:
I'm going to cancel the dividend reinvestment on one individual stock stock I own this April (after this year's March dividend) so everything I hold will be long-term gains. I'm keeping my VTSAX reinvestment on, but this is the last year I'll be harvesting capital gains on it.
My spending money in the first year will come from:
2k - non-reinvested dividends from individual stock (almost all qualified dividends)
17k - sell some of individual stock (about 70% of this is LTCG)
3k - withdraw from Roth IRA (no ACA or income tax repercussions)
3k - income from a board I serve on
10k - income from my wife's part-time job
There's another 4k VTSAX dividend that impacts my ACA MAGI, but is reinvested and thus isn't for spending.
That amounts to 30.9k MAGI for ACA purposes and 13k for federal income tax purposes.
I've got lots of room for IRA->Roth conversion with the Standard Deduction and 1 Child Credit to reduce federal income tax. Standard Deduction is $24,400. Child Credit is $2,000.
So I need to create $11,400 of income (via conversion) to hit the Standard Deduction and then enough additional income to use up $600-$2,000 of credits (up to $1,400 of Child Tax Credit is refundable). Another $7,000 of IRA->Roth conversion will use up $700 of credits. (It also pushes my ACA MAGI up to $49,300.) This means we'll be getting $1,300 in "refund", which is essentially non-taxable income which can go towards spending or padding the cash buffer.
Non-reinvested dividends will come quarterly. The sale of individual stock will be once per year. Income is paid monthly. Roth distribution will be once per year. IRA->Roth conversion will be once per year. We have a cash cushion (equal to 1.5 years of spending today; I'm building this up a bit over the rest of this year just to serve as additional padding) to fall back on, and we can always increase the Roth withdrawal (have 4 years of spending worth of contributions available for withdrawal to date) if unexpected spending is needed.
I hope this answers your questions, and maybe others on the board (smarter than I) can help optimize what I've outlined above.
Post by: Buffaloski Boris on February 15, 2020, 07:13:52 AM
Does anyone want to share their plans in terms of withdrawing from your 'stache after FIRE? Are you going to keep your dividends reinvesting and just sell shares? Will you do something like take out the amount you need for a period of time automatically? Or take a set amount out and wait until you run out? Are you already doing a Roth withdrawal pipeline or other strategy to get money out of retirement? Do you have/are you planning supplemental income beyond investments?
Until now I've only thought about this in a general sense but it's starting to get strangely close. When I think about taking money out instead of putting it in, I have to admit it stresses me out a bit. Just curious to hear how others are thinking about this, if you want to share. TIA!
I'll be happy to share, but my situation is much different from most folks here. I'm older, have a traditional pension coming, and if push came to shove, wouldn't need to take anything from my stash to retire anyway. I don't plan to take anything from the stash until 5 plus years after I retire. If then. Long story short, I'm blessed. I will have the ability to retire directly to a traditional plan, and don't have a number as I don't see much point in having one.
My thoughts for "most" folks is that they need to think very carefully and outside of the box. Everyone's situation is different. I recommend reading the safe withdrawal rate series at Early Retirement Now. While I've actually run into some critics of ERN, I think his stuff is the best at least to get you thinking about strategies. The series is long, but worth the read. One thing that comes shining through is that ERN is not wild about the 4% rule of thumb. Neither am I; I think it optimistic given very low interest rates and very expensive assets (i.e. stocks). Also, from a financial perspective most retirements the are going to "fail" financially do so within the first 10 years.
Most importantly, I strongly advise anyone who is here to question and rethink the specifics of FIRE as it relates to them, and to carefully think about the emotional aspects of retirement.. While the FIRE and MMM community seems to take some pride in being "different thinking", the more you look at it, the more it looks to me like we're just substituting one orthodoxy for another. Not saying that the new orthodoxy is bad: if I thought that, I wouldn't be here. Just recognize FIRE is a new orthodoxy complete with it's own dogmas that may or may not make sense on an individual level. What we tend to see are the stories of the 30 or 40 something year old person with a toxic job who left to FIRE and who is now living the life of Reilly. What we don't see (as they tend to self-select out) are the notsohotso end stories. The folks who found that retirement wasn't what they thought it'd be, or had too high a withdrawal rate, or found that they must work from an emotional standpoint.
Post by: monarda on February 16, 2020, 10:12:36 AM
I'm impressed that your algorithm came up with this insight, Russian bot!Does anyone want to share their plans in terms of withdrawing from your 'stache after FIRE? Are you going to keep your dividends reinvesting and just sell shares? Will you do something like take out the amount you need for a period of time automatically? Or take a set amount out and wait until you run out? Are you already doing a Roth withdrawal pipeline or other strategy to get money out of retirement? Do you have/are you planning supplemental income beyond investments?
Until now I've only thought about this in a general sense but it's starting to get strangely close. When I think about taking money out instead of putting it in, I have to admit it stresses me out a bit. Just curious to hear how others are thinking about this, if you want to share. TIA!
I'll be happy to share, but my situation is much different from most folks here. I'm older, have a traditional pension coming, and if push came to shove, wouldn't need to take anything from my stash to retire anyway. I don't plan to take anything from the stash until 5 plus years after I retire. If then. Long story short, I'm blessed. I will have the ability to retire directly to a traditional plan, and don't have a number as I don't see much point in having one.
My thoughts for "most" folks is that they need to think very carefully and outside of the box. Everyone's situation is different. I recommend reading the safe withdrawal rate series at Early Retirement Now. While I've actually run into some critics of ERN, I think his stuff is the best at least to get you thinking about strategies. The series is long, but worth the read. One thing that comes shining through is that ERN is not wild about the 4% rule of thumb. Neither am I; I think it optimistic given very low interest rates and very expensive assets (i.e. stocks). Also, from a financial perspective most retirements the are going to "fail" financially do so within the first 10 years.
Most importantly, I strongly advise anyone who is here to question and rethink the specifics of FIRE as it relates to them, and to carefully think about the emotional aspects of retirement.. While the FIRE and MMM community seems to take some pride in being "different thinking", the more you look at it, the more it looks to me like we're just substituting one orthodoxy for another. Not saying that the new orthodoxy is bad: if I thought that, I wouldn't be here. Just recognize FIRE is a new orthodoxy complete with it's own dogmas that may or may not make sense on an individual level. What we tend to see are the stories of the 30 or 40 something year old person with a toxic job who left to FIRE and who is now living the life of Reilly. What we don't see (as they tend to self-select out) are the notsohotso end stories. The folks who found that retirement wasn't what they thought it'd be, or had too high a withdrawal rate, or found that they must work from an emotional standpoint.
Semantics: is any retirement before the age of 65 considered RE?
I think of the MMM movement as financial awareness, and just being cognizant of your FI number at any age is valuable.
For people who hate their jobs, I see the appeal of RE. I also don't at all understand why anyone would take a job that they hate. The concept of a years-long countdown is kind of foreign to me. Change your job!
I like my job, am about to turn 60, and have reached minimum FI.
It's really good to think about sensible withdrawl strategies. Thanks for asking @zinnie
Post by: the_fixer on February 16, 2020, 10:27:49 AM
Does anyone want to share their plans in terms of withdrawing from your 'stache after FIRE? Are you going to keep your dividends reinvesting and just sell shares? Will you do something like take out the amount you need for a period of time automatically? Or take a set amount out and wait until you run out? Are you already doing a Roth withdrawal pipeline or other strategy to get money out of retirement? Do you have/are you planning supplemental income beyond investments?
Until now I've only thought about this in a general sense but it's starting to get strangely close. When I think about taking money out instead of putting it in, I have to admit it stresses me out a bit. Just curious to hear how others are thinking about this, if you want to share. TIA!
I'll be happy to share, but my situation is much different from most folks here. I'm older, have a traditional pension coming, and if push came to shove, wouldn't need to take anything from my stash to retire anyway. I don't plan to take anything from the stash until 5 plus years after I retire. If then. Long story short, I'm blessed. I will have the ability to retire directly to a traditional plan, and don't have a number as I don't see much point in having one.
My thoughts for "most" folks is that they need to think very carefully and outside of the box. Everyone's situation is different. I recommend reading the safe withdrawal rate series at Early Retirement Now. While I've actually run into some critics of ERN, I think his stuff is the best at least to get you thinking about strategies. The series is long, but worth the read. One thing that comes shining through is that ERN is not wild about the 4% rule of thumb. Neither am I; I think it optimistic given very low interest rates and very expensive assets (i.e. stocks). Also, from a financial perspective most retirements the are going to "fail" financially do so within the first 10 years.
Most importantly, I strongly advise anyone who is here to question and rethink the specifics of FIRE as it relates to them, and to carefully think about the emotional aspects of retirement.. While the FIRE and MMM community seems to take some pride in being "different thinking", the more you look at it, the more it looks to me like we're just substituting one orthodoxy for another. Not saying that the new orthodoxy is bad: if I thought that, I wouldn't be here. Just recognize FIRE is a new orthodoxy complete with it's own dogmas that may or may not make sense on an individual level. What we tend to see are the stories of the 30 or 40 something year old person with a toxic job who left to FIRE and who is now living the life of Reilly. What we don't see (as they tend to self-select out) are the notsohotso end stories. The folks who found that retirement wasn't what they thought it'd be, or had too high a withdrawal rate, or found that they must work from an emotional standpoint.
For people who hate their jobs, I see the appeal of RE. I also don't at all understand why anyone would take a job that they hate. The concept of a years-long countdown is kind of foreign to me. Change your job!
I like my job, am about to turn 60, and have reached minimum FI.
It's really good to think about sensible withdrawl strategies. Thanks for asking @zinnie
Congratulations on being one of the lucky ones that has a job that they like / enjoy doing but for many people (I would say the majority) it comes down to doing a job you enjoy and retiring in your mid 60’s VS tolerating a well paying job that will allow you to retire earlier and do what you want when you want while you still have health.
I can make really good money doing what I currently do in a job that I can tolerate so I put up with it. I suppose I could quit and go work doing something that I enjoy but that would mean living at poverty level and never being able to retire.
Sent from my iPhone using Tapatalk
Post by: zinnie on February 16, 2020, 03:51:05 PM
Post by: Money Badger on February 21, 2020, 06:56:51 PM
Add to this some interesting life drama... Was tracking to late 2021, but was just laid off in a large RIF in our company with a 5 months severance. I've decided to get another job instead of expediting FIRE simply to ensure this windfall pads the FIRE plan and since my wife's job doesn't have health benefits to cover us as of today. HOWEVER, life is dramatic as my last uncle passed and that is going to throw some $ our way all after tax IF we can settle the final amount in the estate (there's plenty of threads on inheritance drama for good reason is all I'll say about this!) And add to this that wife loves her job and her non-profit is planning to offer health benefits as of June this year, but hasn't 100% committed details as yet.
So, 1 negative and 2 or maybe 3 positives... Will the new gig pay enough to allow Dec 1 2021 to hold? Will Money Badger get skunked by the greedy estate executor and have to remain a wage slave longer? Will there be health coverage really? Tune in on our next "As the FIRE burns" episode! ;-)
Post by: ScreamingHeadGuy on February 28, 2020, 06:59:48 PM
December 2018 - 79.7%
January 2019 - 85.9%
February 2019 - 90.6%
March 2019 - 92.1%
April 2019 - 95.2%
May 2019 - 91.6%
June 2019 - 97.7%
July 2019 - 99.6%
August 2019 - 99.0%
September 2019 - 100.5% (28.1 x expenses)
October 2019 - 102.4% (28.7 x expenses)
November 2019 - 105.0% (29.4 x expenses)
December 2019 - 107.3% (30.0 x expenses)
January 2020 - 109.3% (30.6 x expenses)
February 2020 - 103.7% (29.0 x expenses)
Well, blood-in-the-street ahoy! This month's market performance was amazing; halfway through the month I was around 113% but a mere two weeks later I've lost 4 months' worth of returns. I'll just re-balance my accounts and be on my way. (I will admit - it's a bit of an emotional let-down.) All that said I acknowledge I am still very blessed to be in this position.
I filed my tax returns last weekend and will be getting a return on principle for my no-interest-loans to the Federal and State governments. My federal income tax rate is 0.8% and my state is 2.5% - I don't think I should ever be justified in saying I pay too much income tax if these rates continue.
Life:
After a month of work-from-home I can say it's a good way to work (if you have to work, that is). With my wife's part-time job I now do school pick-up on Thursdays and Fridays (we still split drop-off in the mornings because the high-schooler goes an hour earlier than the kindergartner).
Work itself has been a hectic, stressful bunch of busy these past three weeks. I feel like just throwing up my hands and shouting "Fuck it!"; but I don't - because I have a planned schedule and I can stick to it. I have been trying to take a sick day just because I have 13 stockpiled and can't get payout for it when I retire, but I'm just so darned busy that I always find a reason to justify not taking a fricking day off - this is surely a sign of some kind of moral failing, I'm sure (/sarcasm).
In the past two weeks I've been getting horrible sleep (waking up between 1:30 and 3:30 and not falling asleep again). Is that somehow connected to the work stress? It's sure not due to weather, diet, or exercise. The wife says I'm not snoring anymore - could that be a cause?
I've been reading more this past month, and spending less time on the computer in the evening. Maybe working-from-home in the same room as my (personal) PC somehow, sub-consciously, makes me avoid it?
My health insurance is paying for me to be in an online weight-loss class. Honestly I just signed up because I want to make my health insurance company actually do something for me rather than just take my money. However I'll admit I've actually lost 5 pounds (my focus now is on eating non-calorie-dense foods, increasing fiber intake, and tracking what I eat). I'll see how I feel when this program is over (right about the time spring starts for real).
Post by: eazyebeneezer on March 01, 2020, 08:27:03 AM
My wife and I have been on the FIRE path since late 2017. I was in the 2022 cohort, as we would be comfortably FI by then. But now our plans are shifting, and it looks like we're going to take a two-year sabbatical/mini-retirement from summer 2021- summer 2023. We're going to live in a small city in France near my wife's family. We should be at Lean FI next summer, so this will give us a chance to do a "dry run" on early retirement, and see how we enjoy filling our time with projects, more family time, and basically doing whatever we want for two years, structured loosely around our daughter's school schedule. I am incredibly fortunate that I can take a two-year leave from my job. I made this decision for mental health reasons.
It will be interesting to experience living off our investments for a while. We may end up doing some remote work, but that will be 100% optional. We have the savings set aside for a full two years of expenses. I really need a break from work, so I absolutely can't wait for this opportunity.
If the Internet Retirement Police allow it, we'd like to join your class for the camaraderie, even though we aren't puling the official FI trigger.
Post by: Buffaloski Boris on March 01, 2020, 08:38:06 AM
Hi 2021 crew!
My wife and I have been on the FIRE path since late 2017. I was in the 2022 cohort, as we would be comfortably FI by then. But now our plans are shifting, and it looks like we're going to take a two-year sabbatical/mini-retirement from summer 2021- summer 2023. We're going to live in a small city in France near my wife's family. We should be at Lean FI next summer, so this will give us a chance to do a "dry run" on early retirement, and see how we enjoy filling our time with projects, more family time, and basically doing whatever we want for two years, structured loosely around our daughter's school schedule. I am incredibly fortunate that I can take a two-year leave from my job. I made this decision for mental health reasons.
It will be interesting to experience living off our investments for a while. We may end up doing some remote work, but that will be 100% optional. We have the savings set aside for a full two years of expenses. I really need a break from work, so I absolutely can't wait for this opportunity.
If the Internet Retirement Police allow it, we'd like to join your class for the camaraderie, even though we aren't puling the official FI trigger.
Welcome to the cohort! You’ll be pleased to know that in this cohort the Retirement Police are subject to scorn, ridicule, mockery, derision, wedgies, poetry, memes, and (Gasp!) plagues of cute shiba Inu puppies.
We’re the best cohort but we’re also cruel. At least to the IRP. Welcome!
Post by: ScreamingHeadGuy on March 01, 2020, 07:14:53 PM
The roster is updated for everybody through post #440
So far we have 42 folks here who will be FIRE in 2021 and 4 will OLY into 2020.
Average age of 2021ers is 46.59 (at FIRE date). 2020 average age is 48.32 (so far). 2019 average age was 47.38.
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Post by: zinnie on March 02, 2020, 12:29:51 PM
Hi 2021 crew!
My wife and I have been on the FIRE path since late 2017. I was in the 2022 cohort, as we would be comfortably FI by then. But now our plans are shifting, and it looks like we're going to take a two-year sabbatical/mini-retirement from summer 2021- summer 2023. We're going to live in a small city in France near my wife's family. We should be at Lean FI next summer, so this will give us a chance to do a "dry run" on early retirement, and see how we enjoy filling our time with projects, more family time, and basically doing whatever we want for two years, structured loosely around our daughter's school schedule. I am incredibly fortunate that I can take a two-year leave from my job. I made this decision for mental health reasons.
It will be interesting to experience living off our investments for a while. We may end up doing some remote work, but that will be 100% optional. We have the savings set aside for a full two years of expenses. I really need a break from work, so I absolutely can't wait for this opportunity.
If the Internet Retirement Police allow it, we'd like to join your class for the camaraderie, even though we aren't puling the official FI trigger.
Wow! Sounds like a fun adventure and like it will be a good way to test the waters. I support this plan :)
Welcome!
Post by: moneypitfeeder on March 02, 2020, 05:13:44 PM
Post by: moneypitfeeder on March 05, 2020, 05:53:23 PM
@ScreamingHeadGuy, I realize you have a plan but you really should be taking those sick days, especially if you can't cash them out when you fire! Someone on this site recently quoted a poem to me of indispensable man, it's something I have to constantly remind myself, I do a lot for my organization, but I do realize I'm fully replaceable. Sounds like you aren't sleeping well due to stress, not a good thing...We [on this cohort] only have a few more months to go, hang in there and take care of yourself!
Work itself has been a hectic, stressful bunch of busy these past three weeks. I feel like just throwing up my hands and shouting "Fuck it!"; but I don't - because I have a planned schedule and I can stick to it. I have been trying to take a sick day just because I have 13 stockpiled and can't get payout for it when I retire, but I'm just so darned busy that I always find a reason to justify not taking a fricking day off - this is surely a sign of some kind of moral failing, I'm sure (/sarcasm).
In the past two weeks I've been getting horrible sleep (waking up between 1:30 and 3:30 and not falling asleep again). Is that somehow connected to the work stress? It's sure not due to weather, diet, or exercise. The wife says I'm not snoring anymore - could that be a cause?
Post by: Buffaloski Boris on March 05, 2020, 06:14:48 PM
by Saxon White Kessinger
Sometime when you're feeling important;
Sometime when your ego 's in bloom;
Sometime when you take it for granted,
You're the best qualified in the room:
Sometime when you feel that your going,
Would leave an unfillable hole,
Just follow these simple instructions,
And see how they humble your soul.
Take a bucket and fill it with water,
Put your hand in it up to the wrist,
Pull it out and the hole that's remaining,
Is a measure of how much you'll be missed.
You can splash all you wish when you enter,
You may stir up the water galore,
But stop, and you'll find that in no time,
It looks quite the same as before.
The moral of this quaint example,
Is to do just the best that you can,
Be proud of yourself but remember,
There's no indispensable man.
Post by: eazyebeneezer on March 07, 2020, 05:39:29 AM
Wow! Sounds like a fun adventure and like it will be a good way to test the waters. I support this plan :)
Welcome!
[/quote]
Thanks @zinnie . I see you're in the Boston area. We are too. FIRE is possible even in HCOL areas! Have you found any local FIRE community? I went to one Choose FI meetup, but haven't found time to make another one yet. Didn't really make any lasting connections. I probably need to be more consistent, just have a very full life at the moment.
Post by: icebox92 on March 11, 2020, 01:52:25 PM
Which then leads me to what is my "within reason" value? Or should I stay in the game a little longer and pump up the safety measures / increase Fat Fire during the recovery. What's everyones thoughts? What are you thinking of potentially changing, if anything? What's your "within reason" value / percentage if you have one?
Post by: tipster350 on March 11, 2020, 03:38:44 PM
Post by: nazar on March 11, 2020, 04:02:08 PM
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Post by: the_fixer on March 11, 2020, 04:30:02 PM
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Post by: moneypitfeeder on March 11, 2020, 05:14:33 PM
Post by: Arbitrage on March 12, 2020, 08:05:06 AM
Anyone considering how the impact of this correction / bear will potentially alter your 2021 FIRE Plans? Obviously no one knows what will happen, and I will continue investing as I have been, but I wonder if we are actually below our target number come 4/30/2021, if I would still walk away? I would hate to miss out on the opportunity to continue to pump money into the market as it recovers, but at the same time we have built some safety measures in... So maybe I'll stay committed to the date regardless of the numbers - within reason.
Which then leads me to what is my "within reason" value? Or should I stay in the game a little longer and pump up the safety measures / increase Fat Fire during the recovery. What's everyones thoughts? What are you thinking of potentially changing, if anything? What's your "within reason" value / percentage if you have one?
I just posted a thread about this, since I hadn't seen anyone discussing it. My 2021 plan was always a bit on the ragged edge; though it looked quite possible early this year, it now appears dead. Sure, anything could still happen, but I just don't think I'm going to hit my number in time.
To the people tracking FIRE dates: Consider this my OMY. I'd love to be back, but I need to be realistic.
Post by: FIRE Artist on March 12, 2020, 01:32:33 PM
Post by: Buffaloski Boris on March 12, 2020, 04:42:15 PM
Anyone considering how the impact of this correction / bear will potentially alter your 2021 FIRE Plans?
I have, and it’s probably not going to impact it. That’s due to two things (1) I’m in a golden albatross situation, and, (2) because I mostly stuck to my guns in my overall view of the US stock market. That is, I thought it was grossly overpriced and stayed out for the most part. I say “for the most part.” I’ve been getting smacked with a pretty hefty “stupid tax” the last two weeks. So I’m in the position of being able to buy on sale.
Being the naysayer normally doesn’t pay off. Sometimes it does.
Post by: ScreamingHeadGuy on March 13, 2020, 06:58:20 PM
The Indispensable Man
by Saxon White Kessinger
Sometime when you're feeling important;
Sometime when your ego 's in bloom;
Sometime when you take it for granted,
You're the best qualified in the room:
Sometime when you feel that your going,
Would leave an unfillable hole,
Just follow these simple instructions,
And see how they humble your soul.
Take a bucket and fill it with water,
Put your hand in it up to the wrist,
Pull it out and the hole that's remaining,
Is a measure of how much you'll be missed.
You can splash all you wish when you enter,
You may stir up the water galore,
But stop, and you'll find that in no time,
It looks quite the same as before.
The moral of this quaint example,
Is to do just the best that you can,
Be proud of yourself but remember,
There's no indispensable man.
Thank you @Buffaloski Boris and @moneypitfeeder. That helps me put things into perspective.
As to these past two weeks of equity markets - I'm so glad for the work of EarlyRetirementNow and his SWR series (https://earlyretirementnow.com/safe-withdrawal-rate-series/). Based on his "Ultimate Guide" Spreadsheet here are my safe withdrawal rates (your SWR may vary depending on pensions, SS, post-employment income, etc.).
SWR to target Failure Rates, Conditional on S&P500 Drawdown
S&P500 High Drdwn 0-10% Drdwn 10-20% Drdwn 20-30% Drdwn>30%
3.53% 3.60% 3.82% 4.15% 4.53%
So at the end of February I needed 28.33 times my spending to have 0% chance to "fail" - in my case end with less than 100% starting value. But, after the nearly-28% below peak we had yesterday I only needed 24.10 times spending (which means my numbers still "pass" - even though I now have less than my target number). I'm no less shaken by the drop in value, but at least I'm learning to stop worrying and love the bomb.
Post by: icebox92 on March 16, 2020, 01:26:59 PM
The Indispensable Man
by Saxon White Kessinger
Sometime when you're feeling important;
Sometime when your ego 's in bloom;
Sometime when you take it for granted,
You're the best qualified in the room:
Sometime when you feel that your going,
Would leave an unfillable hole,
Just follow these simple instructions,
And see how they humble your soul.
Take a bucket and fill it with water,
Put your hand in it up to the wrist,
Pull it out and the hole that's remaining,
Is a measure of how much you'll be missed.
You can splash all you wish when you enter,
You may stir up the water galore,
But stop, and you'll find that in no time,
It looks quite the same as before.
The moral of this quaint example,
Is to do just the best that you can,
Be proud of yourself but remember,
There's no indispensable man.
Thank you @Buffaloski Boris and @moneypitfeeder. That helps me put things into perspective.
As to these past two weeks of equity markets - I'm so glad for the work of EarlyRetirementNow and his SWR series (https://earlyretirementnow.com/safe-withdrawal-rate-series/). Based on his "Ultimate Guide" Spreadsheet here are my safe withdrawal rates (your SWR may vary depending on pensions, SS, post-employment income, etc.).
SWR to target Failure Rates, Conditional on S&P500 Drawdown
S&P500 High Drdwn 0-10% Drdwn 10-20% Drdwn 20-30% Drdwn>30%
3.53% 3.60% 3.82% 4.15% 4.53%
So at the end of February I needed 28.33 times my spending to have 0% chance to "fail" - in my case end with less than 100% starting value. But, after the nearly-28% below peak we had yesterday I only needed 24.10 times spending (which means my numbers still "pass" - even though I now have less than my target number). I'm no less shaken by the drop in value, but at least I'm learning to stop worrying and love the bomb.
THIS. I keep meaning to actually run this myself and see the numbers, but I've only been keeping my eye on the Shiller PE Ratio https://www.multpl.com/shiller-pe and thinking "I'm sure my SWR has modified..." Thanks for posting how yours have changed!
Post by: Chaplin on March 16, 2020, 09:22:18 PM
Post by: ScreamingHeadGuy on March 31, 2020, 08:15:31 PM
December 2018 - 79.7%
January 2019 - 85.9%
February 2019 - 90.6%
March 2019 - 92.1%
April 2019 - 95.2%
May 2019 - 91.6%
June 2019 - 97.7%
July 2019 - 99.6%
August 2019 - 99.0%
September 2019 - 100.5% (28.1 x expenses)
October 2019 - 102.4% (28.7 x expenses)
November 2019 - 105.0% (29.4 x expenses)
December 2019 - 107.3% (30.0 x expenses)
January 2020 - 109.3% (30.6 x expenses)
February 2020 - 103.7% (29.0 x expenses)
March 2020 - 94.9% (26.6 x expenses)
Okay, I guess March was even worse than February was for equities' returns. Fortunately we had last week's rally to make the results look less bad than they otherwise would have been. It looks like I've lost about 1 year of investments this past month. It seems bad, but - per my previous post about SWR based on S&P500 drawdown from peak - I'm still OK even with my less-than-100% stache. I am still feeling very blessed with my financial position.
Life:
Lousy Smarch weather! It's been wet(ter than normal) - again. But, given current events, bad weather isn't that significant of a thing.
The Covid-19 lockdown is into its third week here. I am getting "sick" of it - each day seems the same. Our once-hectic evening schedules are now clear and that means we're forced to create our own entertainment. I've started watching Nature and Nova with the youngest and she seems to enjoy TV time with me. I'd like to do more family game time, but sometimes I just don't feel up to it after a day of work.
Speaking of work - it was really nice for the first few days of company-wide work from home. I had two days when there was very little email or calls while everyone got settled into their home offices (or dining rooms, because that seems to be where half my coworkers have set up their work stations). But now everyone's back to their routine of sending out too many emails (CC'ing everybody just because) and the routine annoying stuff. In fact now I think it's worse - I've got three conference calls/meetings a week now because everyone who used to work in an office together "needs to check-in", and I get roped into that BS because my direct supervisor somehow thinks I need to waste 3 hours a week pretending to give a flying F about my coworkers when I/we did just fine with 30 minutes per month before. I now know why people complain so much about meetings - I guess I'd been blessedly insulated from this waste of time for my entire career up until now (and now I understand why this time-wasting BS can drive folks to want to retire early).
This past month I took 2 days off of work (1 was PTO and the other was a "sick" day). I'll be taking a few more days of in April (but that's to do "homeschooling" for my youngest daughter while school is closed on some days when my wife is working). We had been planning to take a vacation during spring break but, well, best-laid plans and stuff; that would have been a nice week-long break from work - I need to try to work a long vacation into the schedule sometime when travel is allowed (or, well, anything other than "essential business" is; I'll not be picky).
I've been sleeping much better this past week-and-a-half. I'd started taking St. John's Wort (but I'm not attributing anything to it, necessarily), have been doing a lot more reading before bedtime, and have tried to increase the intensity of my exercise sessions. Let's just say it's probably a combination of all these things, plus an intentional effort to reduce rumination, which contribute to a less-stressed brain and lets me stay asleep.
The wife is starting to want another dog. I'm still not over the passing of our last one. This past weekend we had a thunderstorm and I couldn't stop myself from thinking how our last dog would need to snuggle in bed between the two of us when it stormed and that led to all kinds of sweet (and sad and upsetting-at-the-time-but-now-fond) memories about her.
Post by: moneypitfeeder on April 04, 2020, 04:44:18 PM
Post by: TheContinentalOp on May 01, 2020, 08:49:17 AM
If the market goes sideways from now until next March, I'll pull the trigger on retirement and have enough cash to go two years (three if I push it) without having to sell.
Post by: ScreamingHeadGuy on May 02, 2020, 07:45:18 PM
December 2018 - 79.7%
January 2019 - 85.9%
February 2019 - 90.6%
March 2019 - 92.1%
April 2019 - 95.2%
May 2019 - 91.6%
June 2019 - 97.7%
July 2019 - 99.6%
August 2019 - 99.0%
September 2019 - 100.5% (28.1 x expenses)
October 2019 - 102.4% (28.7 x expenses)
November 2019 - 105.0% (29.4 x expenses)
December 2019 - 107.3% (30.0 x expenses)
January 2020 - 109.3% (30.6 x expenses)
February 2020 - 103.7% (29.0 x expenses)
March 2020 - 94.9% (26.6 x expenses)
April 2020 - 100.4% (28.1 x expenses)
My invested assets have recovered to last September's level, and I'm again above my target amount. I've followed my plan and have rebalanced my asset allocation to 30% bonds/ 70% equities.
Life:
I have played more D&D in this past month than I have in a month since high school. I've got an every-other-Friday game, my ongoing once-a-month campaign, PLUS a new every-Tuesday game (since there's nowhere to go and nothing else to do), PLUS I've been DM'ing a weekly game for my family (wife is upset I don't tell her everything, 6-year-old keeps wanting to use her axes (but is too afraid to get into melee and just shoots her bow), and 16-year-old is a normal newbie player). What a geek I am.
I grew a beard. Then I cut it off. Wife doesn't like facial hair. Daughter said I didn't look like me. Other folks thought it was a nice beard. I either forgot about it or kept scratching at it. Also - it really showed my age with a lot of white.
This year's Easter was the most un-Easter-like I can ever remember. Our household has done a very good job of rationing the candy and we still have a bag of jelly beans and a bag of robins' eggs left.
Work has been slower than usual. I've spent "downtime" these past two weeks filing months' worth of emails - only 1600 more left to go.
I tore out the old garden and constructed raised garden beds. I hope this will give better drainage, make for easier weeding, and provide for better soil (the native dirt is very clayey; raised beds are all imported topsoil) - all of which should give better vegetable results.
Nine more months of employment are ahead of me - if all goes according to plan. I sure hope they're as good as this past month has been (and maybe even better if the world can do something about this global pandemic we have going around).
Edit: Gas prices were less than $1 per gallon for a week in April, but have since risen quite a bit. Too bad I didn’t need to buy gas.
Post by: MoneyTree on May 13, 2020, 10:12:29 AM
I was optimistically aiming to FIRE near the end of the 2020, but would have needed a year of "normal" growth to get to a number I'm comfortable with.
After the past 2 months, I've lost 2 months of time, and a few hundred thousand dollars, so there is just too much ground to make up for and not enough 2020 left for me to realistically get there. Fortunately, things hit the fan before I reached my FIRE number and not after, so I'm still getting there, just a temporary setback.
lets aim for 12/31/21, and I'd be 37
Post by: ScreamingHeadGuy on May 16, 2020, 06:01:31 AM
I have updated the roster table to reflect your addition.
Post by: Buffaloski Boris on May 16, 2020, 06:19:33 AM
Add me to this cohort please!
I was optimistically aiming to FIRE near the end of the 2020, but would have needed a year of "normal" growth to get to a number I'm comfortable with.
After the past 2 months, I've lost 2 months of time, and a few hundred thousand dollars, so there is just too much ground to make up for and not enough 2020 left for me to realistically get there. Fortunately, things hit the fan before I reached my FIRE number and not after, so I'm still getting there, just a temporary setback.
lets aim for 12/31/21, and I'd be 37
Welcome aboard! This is the bestest cohort, so some silver for the clouds.😁 Your plan sounds like a prudent one to me; we are fortunate that we’re in the post COVID cohort. It’ll be easier to adapt if necessary.
Post by: MoneyTree on May 16, 2020, 12:23:44 PM
We are so glad to have you aboard this ship, MoneyTree. Sorry you have to push back your date a bit, but I bet your Financial position will be stronger for it.
I have updated the roster table to reflect your addition.
Welcome aboard! This is the bestest cohort, so some silver for the clouds.😁 Your plan sounds like a prudent one to me; we are fortunate that we’re in the post COVID cohort. It’ll be easier to adapt if necessary.
Thanks for the welcome! I actually am very thankful. Approaching FIRE had me worried about a market crash, but weirdly, now that it has actually happened, I'm no longer anxious about it at all.
If COVID had hit just one year later, right after I walked away from the "real job" I think I'd be much more stressed out and second guessing myself like crazy.
Who knows how long the recovery is going to take, but I have the luxury of another year of stashing and retiring into a (hopefully) recovering economy, rather than just hitting an arbitrary date on the 2020 calendar.
Post by: 4tify on May 23, 2020, 07:46:29 AM
New page - new posting of the roster.
The roster is updated for everybody through post #425
So far we have 42 folks here who will be FIRE in 2021 and 4 will OLY into 2020.
Average age of 2021ers is 46.59 (at FIRE date). 2020 average age is 48.32 (so far). 2019 average age was 47.38.
Jumping into the 2021 pool! I was shooting for late 2020 but my contract at work is technically over October 2021 and with all the CV19 uncertainty I figure OMY is a prudent move.
I'll be 54. Old for this crowd I know but still "early" right??
Post by: the_fixer on May 23, 2020, 08:08:01 AM
54 is still an early retirement here in the US.
I can not blame you for hanging on a bit longer during the pandemic nice to have some extra cash flowing.
Sent from my iPhone using Tapatalk
Post by: Buffaloski Boris on May 23, 2020, 05:34:53 PM
New page - new posting of the roster.
The roster is updated for everybody through post #425
So far we have 42 folks here who will be FIRE in 2021 and 4 will OLY into 2020.
Average age of 2021ers is 46.59 (at FIRE date). 2020 average age is 48.32 (so far). 2019 average age was 47.38.
Jumping into the 2021 pool! I was shooting for late 2020 but my contract at work is technically over October 2021 and with all the CV19 uncertainty I figure OMY is a prudent move.
I'll be 54. Old for this crowd I know but still "early" right??
Early retirement can be from when you turn 18 until you drop dead. Given that you’re still breathing and have a pulse, looks like early retirement. And you’re younger than me in any case.
Post by: 4tify on May 24, 2020, 12:30:58 PM
Welcome!
54 is still an early retirement here in the US.
I can not blame you for hanging on a bit longer during the pandemic nice to have some extra cash flowing.
Sent from my iPhone using Tapatalk
Yeah, it all feels a bit dodgy at the moment! And I guess a good reason to stockpile a bit more for extra travel whenever we get to do that again!
Post by: 4tify on May 24, 2020, 12:32:39 PM
New page - new posting of the roster.
The roster is updated for everybody through post #425
So far we have 42 folks here who will be FIRE in 2021 and 4 will OLY into 2020.
Average age of 2021ers is 46.59 (at FIRE date). 2020 average age is 48.32 (so far). 2019 average age was 47.38.
Jumping into the 2021 pool! I was shooting for late 2020 but my contract at work is technically over October 2021 and with all the CV19 uncertainty I figure OMY is a prudent move.
I'll be 54. Old for this crowd I know but still "early" right??
Early retirement can be from when you turn 18 until you drop dead. Given that you’re still breathing and have a pulse, looks like early retirement. And you’re younger than me in any case.
Definitely the bright side of dead! LOL :)
Post by: Bateaux on May 28, 2020, 06:25:20 AM
New page - new posting of the roster.
The roster is updated for everybody through post #425
So far we have 42 folks here who will be FIRE in 2021 and 4 will OLY into 2020.
Average age of 2021ers is 46.59 (at FIRE date). 2020 average age is 48.32 (so far). 2019 average age was 47.38.
Jumping into the 2021 pool! I was shooting for late 2020 but my contract at work is technically over October 2021 and with all the CV19 uncertainty I figure OMY is a prudent move.
I'll be 54. Old for this crowd I know but still "early" right??
I'm probably going to be 52 at FIRE and consider it early. I'm 51 for another month. My last work day could be in December 2020 and vacation time could put my actual retirement around March first 2021. Watching the recovery to try and make the right decision.
Post by: 4tify on May 30, 2020, 02:36:23 PM
New page - new posting of the roster.
The roster is updated for everybody through post #425
So far we have 42 folks here who will be FIRE in 2021 and 4 will OLY into 2020.
Average age of 2021ers is 46.59 (at FIRE date). 2020 average age is 48.32 (so far). 2019 average age was 47.38.
Jumping into the 2021 pool! I was shooting for late 2020 but my contract at work is technically over October 2021 and with all the CV19 uncertainty I figure OMY is a prudent move.
I'll be 54. Old for this crowd I know but still "early" right??
I'm probably going to be 52 at FIRE and consider it early. I'm 51 for another month. My last work day could be in December 2020 and vacation time could put my actual retirement around March first 2021. Watching the recovery to try and make the right decision.
I hear you about the recovery. So hard to say but with all commercial real estate about to tank and all these businesses going belly up it seems like we must be heading for a downturn. Driving through LA there's a bunch of for rent signs up and businesses boarded up. Very odd.
I had originally targeted October 2020 but seems prudent to push a year and see how we go!
Post by: ScreamingHeadGuy on May 30, 2020, 08:44:13 PM
December 2018 - 79.7% (22.3 x expenses)
December 2019 - 107.3% (30.0 x expenses)
January 2020 - 109.3% (30.6 x expenses)
February 2020 - 103.7% (29.0 x expenses)
March 2020 - 94.9% (26.6 x expenses)
April 2020 - 100.4% (28.1 x expenses)
May 2020 - 105.3% (29.5 x expenses)
My invested assets have recovered to last November's level - just 6 months of returns lost at this point in the "downturn". I found my asset allocation is a little off with 33.8% bonds/ 66.2% equities - I had planned to be at 32.5/67.5 and guess I just got too aggressive in taking gains out of equities this past month. I guess that just means I'll do less balancing in June to get to my new 35/65 goal.
Current withdrawal rate is 3.34%. According to the Earlyretirementnow Toolbox I could have a SWR of 3.84%. I like that extra safety between my rate and the safe rate. (Yeah, I'm cautious. I also have 1.75 years' worth of cash that I don't count in our assets - since it's just cash.)
Mortgage payoff came this past week. I'd miscalculated when I made a principal payment two years ago and we knocked-off 3 months from our normal "payoff" date - oops. I understand how early payoff can lead to sub-optimal returns vs. investing the cash instead, and I'm okay with being sub-optimal in this item. Now I'm interested in opening up a HELOC as a "just in case" cushion of cash, but I'd actually want to talk to a person at my credit union about that - and that's not going to be allowable for a bit.
Life:
I filled up my gas tank this past week. I didn't need to (still had 1/4 tank left) but I hadn't gotten gas since March and it was time - I also wanted to get milk and bananas that day and it was a downpour...so I drove instead of walking with an umbrella.
The garden was planted over Memorial Day weekend - green beans, carrots, lettuce, tomatoes, zucchini, and butternut squash. Everything we'd planted from seed has sprouted in the past week except the carrots and squash (those lazy bums!).
Since the weather finally decided to warm up the second half of this month I've started to transform my morning walks into morning jogs, with a bike ride thrown in when I need a change-of-pace day.
The wife found a dog through a rescue organization and we've now got a cutie. She was listed as a Shi-tzu/Poodle mix, but there is nothing Shi-tzu about her. The wife thinks she's more dachshund body with poodle legs/tail; I see some retriever in her. She is integrating into our family and making friends (with people and their dogs) in the neighborhood.
Going back to work after a long Memorial Day weekend (I also took off the Friday before so I had a FOUR-day weekend) was rough. But the workload this past week was easy; that happens when my biggest client has put most of its projects on hold. If I was a normal employee I'd be worried the loss of projects would mean my employer cuts staff, but I've got that fat stache (see above) and I'll just sit around surfing the web/taking long lunches/updating spreadsheets until whatever happens happens (projects come in or staffing cuts).
Eight months left until my planned departure - less time than it takes to carry a child to term. I've planned this for many years - even before I knew FIRE was a thing, and way longer than when I/we had actually planned to have a child - that was only 2 years from "yes, lets" to "it's a girl!", and I know I'm prepared (100% financially, ~67% mentally) but, when I really stare into that future date, I still quiver a little bit for what it signifies. Again - I feel like I'm planning to jump out of a perfectly good airplane.
Oh, and I turned 41 this past week. I've been working in my professional career for 19 years now (started in May 2001), I've "survived" through three recessions, and this is my fourth/last employer. Now I can honestly say I'm too old (well, maybe just too tired/rich) for this shit. :-)
Post by: LightTripper on June 01, 2020, 07:24:25 AM
Can I hop on? I have been working towards FIRE for a while (since I bumped into ERE and MMM and realised it was a "thing"). I am planning to pull the plug either entirely or mainly early next year.
I'm in the UK, age 45, 2 kids (3 and 6), too much in cash and currently gradually throwing money into the stock market in the hope of actually starting to generate some income to live off in retirement.... My partner (largely separate finances) is probably FI, not interested in RE, but works for a start-up so may be involuntarily RE'd at some point!
Post by: Much Fishing to Do on June 01, 2020, 07:40:12 AM
My partner (largely separate finances) is probably FI, not interested in RE, but works for a start-up so may be involuntarily RE'd at some point!
Definitely one of the best reasons for anyone to be FI ASAP! Even before I hit FI, it was pretty awesome when my stache hit a level at which a layoff was pretty indistinguishable from a nice long welcomed vacation....
Post by: LightTripper on June 01, 2020, 07:44:46 AM
Post by: Buffaloski Boris on June 01, 2020, 02:36:22 PM
Hi all,
Can I hop on? I have been working towards FIRE for a while (since I bumped into ERE and MMM and realised it was a "thing"). I am planning to pull the plug either entirely or mainly early next year.
I'm in the UK, age 45, 2 kids (3 and 6), too much in cash and currently gradually throwing money into the stock market in the hope of actually starting to generate some income to live off in retirement.... My partner (largely separate finances) is probably FI, not interested in RE, but works for a start-up so may be involuntarily RE'd at some point!
Welcome aboard to the bestest year cohort! We tend to be pretty quiet, but I suppose we’ll get noisier as 2021 approaches.
Heck I don’t know if I’ll RE in any case cuz I like working, but 2021 seems the most logical year. So that’s the goal.
Post by: LightTripper on June 02, 2020, 03:39:40 AM
I used to though - so I'm half hoping that my retirement will bring some clarity and maybe I'll find some joy in the job like I used to - or at least be able to find an angle on it/a corner of it that I can still do and get satisfaction from. It seems a shame to throw away 20 years of building expertise (I know that is largely a sunk cost fallacy: BUT using skills you have really honed does have a satisfaction to it, if you could take away all the horrible bits).
I think I need at least a break though to get that space to really work out what I want to do with the next bit of my life - and whether it has anything at all to do with my current job or not.
Post by: TheContinentalOp on June 04, 2020, 08:45:44 AM
Post by: Much Fishing to Do on June 04, 2020, 09:05:13 AM
My net worth is back to where it was in December 2019. Still on track for FIRE in March 2021, but not sure where I'll be moving to. I had hoped to check out potential LOCOL areas this summer, but now I am thinking I'll move to VA's Shenandoah Valley for a year (near my family).
There are some great little LCOL towns in the Shenandoah. Good Luck!
Post by: phildonnia on June 04, 2020, 11:40:12 AM
Why June 4? I'm limited to putting 75% of my salary into my 401(k). If I go to the max, I can get $26000 in by that date, which is the federal maximum, with a catch-up contribution. (I'm turning 50 next year!)
Coincidentally, on that date I purchased my house exactly 20 years earlier, so it's a nice sort of anniversary.
Post by: Ladychips on June 04, 2020, 12:23:23 PM
June 4, 2021... 365 days until I pull the trigger!
Why June 4? I'm limited to putting 75% of my salary into my 401(k). If I go to the max, I can get $26000 in by that date, which is the federal maximum, with a catch-up contribution. (I'm turning 50 next year!)
Coincidentally, on that date I purchased my house exactly 20 years earlier, so it's a nice sort of anniversary.
Lovely!! I so looking forward to my one-year date!! Love your symmetry!
Post by: Buffaloski Boris on June 04, 2020, 02:30:05 PM
June 4, 2021... 365 days until I pull the trigger!
Why June 4? I'm limited to putting 75% of my salary into my 401(k). If I go to the max, I can get $26000 in by that date, which is the federal maximum, with a catch-up contribution. (I'm turning 50 next year!)
Coincidentally, on that date I purchased my house exactly 20 years earlier, so it's a nice sort of anniversary.
Oh wow. That’s something I need to think about.
Post by: ixtap on June 04, 2020, 02:43:05 PM
June 4, 2021... 365 days until I pull the trigger!
Why June 4? I'm limited to putting 75% of my salary into my 401(k). If I go to the max, I can get $26000 in by that date, which is the federal maximum, with a catch-up contribution. (I'm turning 50 next year!)
Coincidentally, on that date I purchased my house exactly 20 years earlier, so it's a nice sort of anniversary.
Oh wow. That’s something I need to think about.
All else being equal, this should definitely be a consideration.
If you have an HSA, you also need to determine if you will maintain eligibility in retirement. If not, you may need to scale back personal contributions. Or, if so, you may want to scale up your personal contributions to get to the max.
Post by: phildonnia on June 04, 2020, 05:02:32 PM
If you have an HSA, you also need to determine if you will maintain eligibility in retirement. If not, you may need to scale back personal contributions. Or, if so, you may want to scale up your personal contributions to get to the max.
I don't have an HSA. I have a really, really good health plan, which is also really, really expensive. The details are still to be worked out on this. I'm probably going to end up with a high-deductible plan of some sort, but with no HSA.
Post by: logjammin on June 08, 2020, 09:42:31 PM
Retirement date is 4/30/2021 (to collect one last annual bonus check from my employer); my age will be 39.
My quick story: I'm a single male (not married, no kids) who ultra-values freedom of time and lazy days. I'm in the process of purchasing a home on the shore of Lago Atitlán, Guatemala, an absolutely gorgeous lake I fell in love with when visiting on vacation. I'll be buying all cash, so my expenses will essentially be limited to whatever it takes to live day-to-day Guatemalan life ... which, as you can imagine, isn't much. I'm friendly and social enough that I'm sure I'll make some lake friends, but overall I hope and intend to be a pretty non-social hermit. The property is accessible only by boat, and choosing a place like that is not an accident!
What I'll do with my time? TBD! Probably mostly the same things I do now, except minus the work part.
I want to say I'm "leanfire," but I've seen numbers from others that sure put that into question. The bottom line is I have "enough," even if I needed to weather multiple economic collapses, and I'm in a line of work where I'm reasonably confident I could rejoin the workforce if I absolutely had to (actuary). The only thing that would keep me from pulling the trigger is fear of the unknown, but I've been making plans for months now and I'm fully confidently and happily committed! I'm hoping this thread will help keep me accountable, but to be quite honest I don't think I need any help with that :)
Post by: LightTripper on June 09, 2020, 02:49:32 AM
Honestly, of all the concerns I have filling my time is not one (and even pre-kids would not have been one). Might I miss routine/structures? Yes possibly - but not for lack of interesting and satisfying things to do instead of work!
Post by: zinnie on June 09, 2020, 06:55:28 AM
Wow! Sounds like a fun adventure and like it will be a good way to test the waters. I support this plan :)
Welcome!
Thanks @zinnie . I see you're in the Boston area. We are too. FIRE is possible even in HCOL areas! Have you found any local FIRE community? I went to one Choose FI meetup, but haven't found time to make another one yet. Didn't really make any lasting connections. I probably need to be more consistent, just have a very full life at the moment.
[/quote]
Well hello fellow Bostonian! Happy to [belatedly] see this. I agree about FIRE in HCOL areas! Totally possible, especially when you can pair the higher salaries with being smart about spending. There is a Google group for Boston Mustachians that is posted in the latest Boston meet up thread, but there hasn't been much activity in the past few years. I haven't been very involved in FIRE events, either. I went to one a couple of years back in San Diego but it was mostly people who were drawn to the idea of FIRE, not those who were actually on the way. I'd be interesting in attending something here, when those types of things are possible again :)
edit: meant to tag you @eazyebeneezer
Post by: 4tify on June 09, 2020, 08:23:44 AM
I'm in the process of purchasing a home on the shore of Lago Atitlán, Guatemala, an absolutely gorgeous lake I fell in love with when visiting on vacation. I'll be buying all cash, so my expenses will essentially be limited to whatever it takes to live day-to-day Guatemalan life ... which, as you can imagine, isn't much.
wow @logjammin this sounds amazing. I looked up the the place and it's beautiful. Look forward to hearing how your journey progresses!
Post by: logjammin on June 09, 2020, 03:06:40 PM
Wow @logjammin that's exciting! Do you speak the language or is that one of your retirement projects?It's a current project. Aprendo poco a poco. Puedo leer y escribir bien, hablando es ok, pero escuchar me cuesta mucho. Actualmente miraba la casa de papel en español y esa ayudame. In other words, I'm getting there, pero va para largo.
Just to clarify, you might have meant Mayan, the language of the indigenous locals. Sadly, yet also fortunately for learning purposes, Spanish has become the main means of communication. Mayan would be very cool to learn but there are three distinct dialects around just that lake, and it sounds like it's exceptionally difficult to learn.
wow @logjammin this sounds amazing. I looked up the the place and it's beautiful. Look forward to hearing how your journey progresses!Thank you! The contract language was finalized today, I hope to get some pics of the new place soon
Post by: LightTripper on June 09, 2020, 03:08:49 PM
Having said that I tried to learn a tiny bit of Mongolian when a holiday took me through there a few years ago.... not very successful, it has to be said. But I'm glad I tried!
Post by: ScreamingHeadGuy on June 10, 2020, 12:18:11 PM
The roster is updated for everybody through post #495
So far we have 41 folks here who will be FIRE in 2021 and 4 will OLY into 2020.
Average age of 2021ers is 46.65 (at FIRE date). 2020 average age is 48.32 (so far). 2019 average age was 47.38.
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Post by: LightTripper on June 10, 2020, 12:48:48 PM
Although I'm not actually expecting a bonus (given Covid's impact on the wider business), I'll probably wait until bonuses are awarded before resigning just in case I get an unexpected bump (as my billings have probably been if anything higher than I expected).
That would put me in April 2021, so that's my "best guess" for now - though always possible I go earlier if I really get sick of it, or later if I end up on a really interesting/fun project!
Post by: Ladychips on June 10, 2020, 02:56:45 PM
@ScreamingHeadGuy - thanks so much for taking care of the list. It just seems so much more real and valid with a list!
Post by: nazar on June 10, 2020, 03:47:59 PM
18 people are less than a year away! That is so exciting!!! Can't wait to be able to check myself off the list (a day less than 1 year and 3 weeks for me!)!I have the same date. I was just thinking that by this time a year from now I'll have already given my notice.
@ScreamingHeadGuy - thanks so much for taking care of the list. It just seems so much more real and valid with a list!
Sent from my SM-G892U using Tapatalk
Post by: Ladychips on June 10, 2020, 03:55:38 PM
18 people are less than a year away! That is so exciting!!! Can't wait to be able to check myself off the list (a day less than 1 year and 3 weeks for me!)!I have the same date. I was just thinking that by this time a year from now I'll have already given my notice.
@ScreamingHeadGuy - thanks so much for taking care of the list. It just seems so much more real and valid with a list!
Sent from my SM-G892U using Tapatalk
@nazar! My retirement buddy!! I should really give notice in October, but for a variety of personal reasons, I'm planning to give notice on May 17 (unless I get pissed off and blurt it out before then). I'm really looking for all the little milestones of "this is the last time I have to do this thing" Some of those are date driven. But I find myself 'delgating' things as well!
Post by: Peter Parker on June 11, 2020, 01:56:29 PM
I have enjoyed my job and have been FI for awhile now. I really could hang it up anytime, but I recently got a promotion that I really like--one that I had hoped to get (and IMHO deserved) several (8) years ago. Last year, I had some leverage--I had another job offer that was higher pay, much less commute, and better working conditions. I said I was going to leave unless I got the promotion. They gave it to me, but labeled it "interim." I accepted and my last year has been one of my most satisfying years in a very satisfying career....
Despite the promotion, I had a "drop-dead" date to retire in 2021. I have settled on 4/31/2021. I'm still going to do this, but my question is about timing my notice.
I will be eligible for my LAST raise in August. This raise will significantly increase my pension, so I don't want to give them any excuse not to give me my raise. Thus I will not give notice until after this date because I don't want them to revoke my "interim" promotion since I will be leaving. However, I do want give them as much notice as possible because: (a) they have been good to me; (b) I don't want the people I supervise to be severely affected; (c) I'd like the opportunity to train the person that will take my place....
That being said, in the back of my head, I'm afraid, even after my last raise, they may revoke my interim status and have me go back to my old position (in which case I'd just leave). But that wouldn't maximize my retirement and would cause problems (a) through (c) above to occur.
So my question is....When would you give notice? Right after my last raise? January (4 months notice)? Two weeks notice? What would the MMM/Class of 2021 Cohort suggest?
Post by: 4tify on June 11, 2020, 02:02:09 PM
Post by: the_fixer on June 11, 2020, 03:42:49 PM
I was in a leadership role and wanted to give sufficient time to transition as we had a 1 week vacation planned. As soon as I gave them notice I was called to a meeting with HR where my boss offered anything I wanted to stay, when I told them I wanted to try something new and it was not about the position or pay they told me my vacation was canceled (company policy supposedly that when you give notice you are no longer allowed to take vacation) and they turned off my AD account and demanded to know the name of the company I was moving to, I let them know that it was not a competitor and in a completely different sector they actually threatened to sue me if I did not tell the right there and then.
I was harassed endlessly by HR and my manager for the entire time and even received several drunk dials from my boss months after late at night threatening me and telling me I would be sorry.
I literally just about killed myself for 16 years at that company, always a top performer and alway a sought after employee even during the massive layoffs.
16 years and that is how they treat someone trying to give them more than adequate notice. Nothing was turned over, they lost years and years of process and documentation work all because my boss was upset that I was leaving.
Never will I ever give more than the bare minimum notice again. I had a great relationship with the manager, I basically ran the entire area and never expected to be treated that way.
I am happy to report that all of my team departed the company within 4 months and the company lost that part of the business to another company due to inability to deliver on their contracts :)
Sent from my iPhone using Tapatalk
Post by: Peter Parker on June 11, 2020, 03:48:49 PM
@PeterParker i think 4 mo is more than fair. How difficult will it be to find a new you? I’d even say 90 days is a good chunk.
Aren't we all irreplaceable? You are right. I'm not that hard to replace...There will be people all over the state that will want my position
Post by: 4tify on June 11, 2020, 04:39:38 PM
For what it's worth I'm in a similar situation with a contract that's up next fall. Been trying to sort out how to best do it, but I'm erring towards 60 days since my role isn't super easy to fill. But given the economy I'm sure next year there will be tons of people lining up for a good spot.
Post by: Buffaloski Boris on June 11, 2020, 06:23:34 PM
Post by: Peter Parker on June 12, 2020, 08:29:03 AM
Post by: moneypitfeeder on June 13, 2020, 05:07:39 PM
Post by: Peter Parker on June 14, 2020, 08:41:23 AM
@Peter Parker , sounds like you have it pretty-well planned out, but I'm also in the camp of waiting until after August. I fully get wanting to make sure you have time for training people to back-fill (it's what I am currently trying to do). I wasn't anticipating an increase so I divulged my plans really early (my sup asked the where do you see yourself in 5 yrs ?). IMHO no company will ever give you truly "adequate" time to train someone up. How soon after you get your Aug. raise do you expect to resign?
Well that is the question. I'm leaving 4/31/2021. I'm going to wait after I get met raise, then take it day by day.
Post by: Ladychips on June 16, 2020, 06:58:25 PM
*Edited to be more clear which posts I meant...
**Edited again to fix typo...good grief
Post by: LightTripper on June 17, 2020, 09:35:21 AM
Post by: Ladychips on June 17, 2020, 11:00:57 AM
Post by: LightTripper on June 17, 2020, 11:05:56 AM
I'm a worrier too. I think when I get time I will do another review of spending as I think it should be quite a bit lower due to Covid too (nothing on coffees, sandwiches, cafe lunches out with family, etc.) And although I definitely do miss those things, I don't miss them enough that (a) I would be miserable without them, (b) that it's worth working to keep them at historic levels, if that's what it took or (c) that I necessarily want to keep them at the levels they were post-Covid even with money no object. So seeing how much we spend in our perfectly pleasant "Covid" life would be interesting, for sure!
Post by: 4tify on June 23, 2020, 08:57:59 AM
I earn enough that I can max it out in one month plus my unpaid vacation. So I'd basically dump my entire last paychecks into it. I might come out with a couple grand as well.
I also heard that if you pre-fund your FSA that comes with you. Am I right about that? This will be the first time I ever leave a job with benefits, so I'm trying to figure out the best way.
Any advice on this?
Post by: ScreamingHeadGuy on June 24, 2020, 10:24:27 AM
Got a question for you all. I'm considering giving notice in January 2021 in order to take advantage of one last push into the old 401k.
I earn enough that I can max it out in one month plus my unpaid vacation. So I'd basically dump my entire last paychecks into it. I might come out with a couple grand as well.
I also heard that if you pre-fund your FSA that comes with you. Am I right about that? This will be the first time I ever leave a job with benefits, so I'm trying to figure out the best way.
Any advice on this?
It’s a great way to start the year by maxing out your 401k if you can.
I’m not sure about the FSA, though. I’d recommend checking with your employer and looking into the IRS’s documents on that front.
Post by: MoneyTree on June 24, 2020, 05:46:48 PM
Got a question for you all. I'm considering giving notice in January 2021 in order to take advantage of one last push into the old 401k.
I earn enough that I can max it out in one month plus my unpaid vacation. So I'd basically dump my entire last paychecks into it. I might come out with a couple grand as well.
I also heard that if you pre-fund your FSA that comes with you. Am I right about that? This will be the first time I ever leave a job with benefits, so I'm trying to figure out the best way.
Any advice on this?
No idea on the FSA.
For frontloading your 401k contributions, I'd say thats a great idea, but I'd check if there are any other limitations on how much of your paycheck you're allowed to apply towards your 401k in a given pay period. Oftentimes this is capped at a certain percentage so you might not be allowed to put your whole paycheck into it.
Also, once you find out what that cap is, I would recommend changing your contribution amount in December of this year, as it can sometimes take up to 2 pay periods to take effect.
Post by: 4tify on June 24, 2020, 05:56:21 PM
Got a question for you all. I'm considering giving notice in January 2021 in order to take advantage of one last push into the old 401k.
I earn enough that I can max it out in one month plus my unpaid vacation. So I'd basically dump my entire last paychecks into it. I might come out with a couple grand as well.
I also heard that if you pre-fund your FSA that comes with you. Am I right about that? This will be the first time I ever leave a job with benefits, so I'm trying to figure out the best way.
Any advice on this?
No idea on the FSA.
For frontloading your 401k contributions, I'd say thats a great idea, but I'd check if there are any other limitations on how much of your paycheck you're allowed to apply towards your 401k in a given pay period. Oftentimes this is capped at a certain percentage so you might not be allowed to put your whole paycheck into it.
Also, once you find out what that cap is, I would recommend changing your contribution amount in December of this year, as it can sometimes take up to 2 pay periods to take effect.
Got it, that's good advice thank you.
Post by: Wadiman on June 24, 2020, 09:44:44 PM
Great to see that the list is increasing - unfortunately I'll be postponing my FI(RE) date a little to Dec 21 but interestingly i've discovered (via COVID lockdown) that the main issue i've had with my career has been the commuting and getting into work attire etc. I don't mind the work per se.
So...this has made me think about having a chat with my employer in Nov 21 (or thereabouts) to see if I can split my job with another team member and work 1 (preferably) or 2 (if needed) days per week and keep a pretty big income stream coming in. I wouldn't then need to look at any side-gigs but suppose this would mean i'm not technically retiring. Previously my thinking was to generate at least $10k pa through side gigs and working 1 or 2 days/week would generate at least $40k pa for minimal effort. I think i'll try this and see how it goes.
Post by: Ladychips on June 25, 2020, 04:41:40 AM
Post by: Wadiman on June 25, 2020, 05:50:43 AM
Post by: ScreamingHeadGuy on June 30, 2020, 07:55:16 PM
I've also removed cohort members who no longer show up as forum members - that got rid of six former posters.
Post by: ScreamingHeadGuy on June 30, 2020, 08:24:00 PM
December 2018 - 79.7% (22.3 x expenses)
December 2019 - 107.3% (30.0 x expenses)
January 2020 - 109.3% (30.6 x expenses)
February 2020 - 103.7% (29.0 x expenses)
March 2020 - 94.9% (26.6 x expenses)
April 2020 - 100.4% (28.1 x expenses)
May 2020 - 105.3% (29.5 x expenses)
June 2020 - 106.9% (29.9 x expenses)
My invested assets are back to mid-November 2019 level - 7.5 months of returns and contributions disappeared. But it's still better than the low point in March 2020 (9.4% above year-ago levels, too) and I'm still above my goal so I'm pretty pleased.
Asset allocation is close to target (within 0.5%) for equities/bonds. Now I'm rebalancing equities for my domestic/international exposure.
Life:
Our exchange daughter left to go back to Romania early in the month so that's left our home a bit quieter. It's also meant the wife has re-occupied the former guest-room and is using it as her "office". (Nope, the work-from-home guy still gets the basement - life is not fair.)
We've started harvesting lettuce from the garden already - just over a month from planting. The whole garden is going nuts this year - I anticipate we'll have enough to do ample canning/freezing/saucing this summer.
My weight-loss "program" has been going well. Since October 2019 I'm down 18-19 pounds (yesterday it was 19 but today it was 18). Ever since I hit the 10# mark I've felt much better. I've still got 2.3-3.3 more to shed to hit my goal (and 5.3-6.3 for my "stretch goal") over the next four months; I have a feeling I just might make it.
Our puppy has decided it must sleep in my bed. This seems to be a significant factor in my recent bout of poor-quality sleep. (But not bringing the dog in bed means it howls in anguish so that leads to no sleep.)
I have been working very hard to "control" my anger and channel it in an appropriate, "positive" manner. I realized I'd been carrying my frustration around too much and then releasing it all at "minor offenses". Here's hoping I can keep this up (June had zero "eruptions").
Seven (lucky seven!) more months to go for me. (But I wouldn't mind if I somehow got an "offer I couldn't refuse" to hit the road - except my company doesn't do that.)
Post by: highlandterrier on July 03, 2020, 11:50:22 AM
Post by: Buffaloski Boris on July 03, 2020, 01:12:59 PM
Add me to the roster please, OLYing from 2022 to 2021. Not decided date but sometime between very likely July but could put back to September. One year to go I'll look upon it as a lap of honour.Welcome to the cohort!
Post by: bluebelle on July 03, 2020, 02:44:29 PM
I panicked when I saw 300K wiped out of our retirement fund back in Feb and March due to Covid19 and said I was working until 2022 to make it up. Fast forward to now, with my stash replenished. (just frickin' proves I don't know jack, and neither do the experts). It also reinforces that I'm invested in the risk appropriate funds. We're at our 'number', so moderate growth with less risk. We were down 15% between Jan. 31 and March 31, rather than the 35-40% I think the over-all market hit.
What it did reinforce for me is that having a bigger stash than I know we need will help me sleep at night. Niece and Nephew and some charities will score when I'm gone, and I'm okay with that. I'm thinking STEM scholarships for young women, unless by some miracle we've achieved true equality by then. Then something with at-risk youth (probably something will go to them anyway - don't beat me up for my choices)
I like my job - much of it energizes me.....but as a IT geek, the hours on the the keyboard have taken their toll....my neck and upper back are screaming by the end of the day, every day. Nothing is working for pain relief.....except getting off the keyboard.
I'm still thinking about going part time.....but I would have to be more diligent about protecting my time.....I fear I'd still work 40 hours and just get paid for 24. And that's on me....
Post by: LightTripper on July 03, 2020, 03:20:56 PM
What it did reinforce for me is that having a bigger stash than I know we need will help me sleep at night. Niece and Nephew and some charities will score when I'm gone, and I'm okay with that. I'm thinking STEM scholarships for young women, unless by some miracle we've achieved true equality by then. Then something with at-risk youth (probably something will go to them anyway - don't beat me up for my choices)
Well, not that it matters, but I like your choices a lot.
Welcome to the crew!
Post by: friedmmj on July 04, 2020, 06:01:33 AM
What would you do....
I have enjoyed my job and have been FI for awhile now. I really could hang it up anytime, but I recently got a promotion that I really like--one that I had hoped to get (and IMHO deserved) several (8) years ago. Last year, I had some leverage--I had another job offer that was higher pay, much less commute, and better working conditions. I said I was going to leave unless I got the promotion. They gave it to me, but labeled it "interim." I accepted and my last year has been one of my most satisfying years in a very satisfying career....
Despite the promotion, I had a "drop-dead" date to retire in 2021. I have settled on 4/31/2021. I'm still going to do this, but my question is about timing my notice.
I will be eligible for my LAST raise in August. This raise will significantly increase my pension, so I don't want to give them any excuse not to give me my raise. Thus I will not give notice until after this date because I don't want them to revoke my "interim" promotion since I will be leaving. However, I do want give them as much notice as possible because: (a) they have been good to me; (b) I don't want the people I supervise to be severely affected; (c) I'd like the opportunity to train the person that will take my place....
That being said, in the back of my head, I'm afraid, even after my last raise, they may revoke my interim status and have me go back to my old position (in which case I'd just leave). But that wouldn't maximize my retirement and would cause problems (a) through (c) above to occur.
So my question is....When would you give notice? Right after my last raise? January (4 months notice)? Two weeks notice? What would the MMM/Class of 2021 Cohort suggest?
Unfortunately, I have to inform you that under no circumstances will you be retiring on your intended date. ;-)
Post by: ScreamingHeadGuy on July 04, 2020, 06:33:30 PM
I've got you at 4/30/21 @PeterParker - a date which actually exists. :-)
It sure looks like the intensity of our cohort is picking up; we've almost made it through a page of posts in only one month! Settle down, folks - we're supposed to be the "too cool for school" class. (Makes sense; from our reported ages we're mostly Gen-X folks.)
Post by: FarFetchd on July 05, 2020, 11:54:47 AM
I'm currently hanging on in a job that I used to love, but has suUuUucked for like 6 months+ now. I've been job hunting for a couple of months. While it's totally possible that a new one might be no more enjoyable than this one, it would at least be a change of pace that should put a few more months on the "how long can I last" clock.
But, when I make myself stop overfocusing on all that, I have to admit my situation is pretty wonderful. For one thing, I've already taken care of the fear of the prospect of post-FIRE ennui: I took a month off a few months back, and it was as wonderful and productive as you could hope. On the financial side, my wife recently started at a job she loves, and makes just enough that we should hit our minimum target even if I stopped working now, and she stopped in September 2021. I'm really trying to avoid that, though. For one thing, I'd feel bad being a mooch before we are >100% FI. Plus, keeping my income going another year would make it vastly more comfortable to start the cute little cafe we want to run someday, which will take some startup capital and may well not do so great.
The technical details: we're targeting ~$25k annual spending, mortgage accounted separately. Our spending looks closer to ~$22k, but the wiggle room is really important to me for comfort (less so to her; I'm the planner/worrier!), not to mention not knowing what to expect with health insurance, which we've so far always had through school/employer. Our definition of "safe withdrawal rate" is EarlyRetirementNow's CAPE-based rule, https://earlyretirementnow.com/2017/08/30/the-ultimate-guide-to-safe-withdrawal-rates-part-18-flexibility-cape-based-rules/ (https://earlyretirementnow.com/2017/08/30/the-ultimate-guide-to-safe-withdrawal-rates-part-18-flexibility-cape-based-rules/), specifically with a=1.5 b=0.5. It will guide our spending cap, and is also what we're using to decide when it's safe to stop working.
Well, that's about it. It was nice to read about others' similar situations. I'll try to check in here regularly. It's a weird feeling being more or less in the home stretch, and I think it's only going to get weirder. Total freedom is really a massive change of perspective. I'm guessing several people in this thread are also experiencing that right now!
Post by: Peter Parker on July 06, 2020, 08:40:57 AM
Glad to have you @highlandterrier and @bluebelle.
I've got you at 4/30/21 @PeterParker - a date which actually exists. :-)
It sure looks like the intensity of our cohort is picking up; we've almost made it through a page of posts in only one month! Settle down, folks - we're supposed to be the "too cool for school" class. (Makes sense; from our reported ages we're mostly Gen-X folks.)
Well I guess my last day is one day sooner....:-)
Post by: Buffaloski Boris on July 06, 2020, 05:13:33 PM
Hi all! I've been fully into the financial independence thing since 2016 (and was lucky enough to have wound up vaguely Mustachian even before discovering MMM), but only recently started really paying attention to this forum. Our timeframe is no later than September 2021, at which point we'll be 33. We're currently in a big-ish coastal city, and will be moving to the midwest. (September is when our lease will end).
I'm currently hanging on in a job that I used to love, but has suUuUucked for like 6 months+ now. I've been job hunting for a couple of months. While it's totally possible that a new one might be no more enjoyable than this one, it would at least be a change of pace that should put a few more months on the "how long can I last" clock.
But, when I make myself stop overfocusing on all that, I have to admit my situation is pretty wonderful. For one thing, I've already taken care of the fear of the prospect of post-FIRE ennui: I took a month off a few months back, and it was as wonderful and productive as you could hope. On the financial side, my wife recently started at a job she loves, and makes just enough that we should hit our minimum target even if I stopped working now, and she stopped in September 2021. I'm really trying to avoid that, though. For one thing, I'd feel bad being a mooch before we are >100% FI. Plus, keeping my income going another year would make it vastly more comfortable to start the cute little cafe we want to run someday, which will take some startup capital and may well not do so great.
The technical details: we're targeting ~$25k annual spending, mortgage accounted separately. Our spending looks closer to ~$22k, but the wiggle room is really important to me for comfort (less so to her; I'm the planner/worrier!), not to mention not knowing what to expect with health insurance, which we've so far always had through school/employer. Our definition of "safe withdrawal rate" is EarlyRetirementNow's CAPE-based rule, https://earlyretirementnow.com/2017/08/30/the-ultimate-guide-to-safe-withdrawal-rates-part-18-flexibility-cape-based-rules/ (https://earlyretirementnow.com/2017/08/30/the-ultimate-guide-to-safe-withdrawal-rates-part-18-flexibility-cape-based-rules/), specifically with a=1.5 b=0.5. It will guide our spending cap, and is also what we're using to decide when it's safe to stop working.
Well, that's about it. It was nice to read about others' similar situations. I'll try to check in here regularly. It's a weird feeling being more or less in the home stretch, and I think it's only going to get weirder. Total freedom is really a massive change of perspective. I'm guessing several people in this thread are also experiencing that right now!
Hi @FarFetchd - welcome to the bestest cohort! You're right; the weirdness of being close and realizing that I'm probably less than a year from chucking my job is beginning to sink in. Do I really want to leave a good paying job that I'm good at and enjoying more and more of late? Then the siren song of going bike riding whenever and wherever I want and gardening and cooking and doing fun jobs starts to sound mighty nice.
Post by: 4tify on July 06, 2020, 06:16:59 PM
Hi all! I've been fully into the financial independence thing since 2016 (and was lucky enough to have wound up vaguely Mustachian even before discovering MMM), but only recently started really paying attention to this forum. Our timeframe is no later than September 2021, at which point we'll be 33. We're currently in a big-ish coastal city, and will be moving to the midwest. (September is when our lease will end).
I'm currently hanging on in a job that I used to love, but has suUuUucked for like 6 months+ now. I've been job hunting for a couple of months. While it's totally possible that a new one might be no more enjoyable than this one, it would at least be a change of pace that should put a few more months on the "how long can I last" clock.
But, when I make myself stop overfocusing on all that, I have to admit my situation is pretty wonderful. For one thing, I've already taken care of the fear of the prospect of post-FIRE ennui: I took a month off a few months back, and it was as wonderful and productive as you could hope. On the financial side, my wife recently started at a job she loves, and makes just enough that we should hit our minimum target even if I stopped working now, and she stopped in September 2021. I'm really trying to avoid that, though. For one thing, I'd feel bad being a mooch before we are >100% FI. Plus, keeping my income going another year would make it vastly more comfortable to start the cute little cafe we want to run someday, which will take some startup capital and may well not do so great.
The technical details: we're targeting ~$25k annual spending, mortgage accounted separately. Our spending looks closer to ~$22k, but the wiggle room is really important to me for comfort (less so to her; I'm the planner/worrier!), not to mention not knowing what to expect with health insurance, which we've so far always had through school/employer. Our definition of "safe withdrawal rate" is EarlyRetirementNow's CAPE-based rule, https://earlyretirementnow.com/2017/08/30/the-ultimate-guide-to-safe-withdrawal-rates-part-18-flexibility-cape-based-rules/ (https://earlyretirementnow.com/2017/08/30/the-ultimate-guide-to-safe-withdrawal-rates-part-18-flexibility-cape-based-rules/), specifically with a=1.5 b=0.5. It will guide our spending cap, and is also what we're using to decide when it's safe to stop working.
Well, that's about it. It was nice to read about others' similar situations. I'll try to check in here regularly. It's a weird feeling being more or less in the home stretch, and I think it's only going to get weirder. Total freedom is really a massive change of perspective. I'm guessing several people in this thread are also experiencing that right now!
Hi @FarFetchd - welcome to the bestest cohort! You're right; the weirdness of being close and realizing that I'm probably less than a year from chucking my job is beginning to sink in. Do I really want to leave a good paying job that I'm good at and enjoying more and more of late? Then the siren song of going bike riding whenever and wherever I want and gardening and cooking and doing fun jobs starts to sound mighty nice.
Jeez @Buffaloski Boris this is exactly what I've been going through. I keep running my resignation speech through my mind, and then I have this inner battle start over getting paid for a (mostly) entertaining job that I'm good at and "what if quitting is a huge mistake?" Then I consider I'm already in my 50's and in good health (thank god) and won't it be nice to take advantage of having enough and enjoy the time while I've got it...??
As I type that it makes no sense to stay on the job, but old habits die hard!! Crazy.
Post by: LightTripper on July 07, 2020, 03:15:35 AM
It is weird being so close. It's giving me the fear even at 45 - and some of my friends are starting to at least downshift or stopped work for kids. I can only imagine it's harder to make the shift mentally at 33, but you have time and energy on your side - so where's the harm? One way I am getting my head around it is to just say "it's the next chapter". Who knows if it will be the final chapter? No rules to say it has to be. If I'm not having fun, I'll change it up.
Having a Dad who is studying for a PhD in his 70s certainly helps with this. No good comes from cutting yourself off from experiences and opportunities on the basis that "it's too late". So if we're lucky enough to keep our health, anything is possible.
Post by: highlandterrier on July 07, 2020, 03:59:48 AM
Oh, and not allowed to call it retiring in my house, it's the Renaissance !
Post by: FarFetchd on July 09, 2020, 09:43:01 AM
I keep reminding myself I only have 12 or so pay cheques left to go, which is scary in one way. I've also modelled the month by month decumulation expected, and worst reasonable case, so by the time FIRE arrives should be used to the idea as mentally planned out.
Oh, and not allowed to call it retiring in my house, it's the Renaissance !
That's a great word for it, I love it! As snappy an acronym as 'FIRE' certainly is, the word 'retirement' is unfortunately inextricably tied to a very well established and globally shared understanding. Cruise ships, retirement homes, etc. It's gross to imagine someone well below retirement age living the stereotypical old retiree life, and even if that's not what FIRE looks like, it's the first thing that comes to mind when the R-word makes an appearance. It's not even just that I'm worried about the effect on marketing FI to the general public: it's that I myself feel it. I feel gross (and worried about what my life would turn into) when I think in terms of "retiring". It feels much better to look at it in terms of freedom, with an expectation that productive things will come of it. So, yeah, to put that in a more flowery way: renaissance :D
Post by: lemonlyman on July 10, 2020, 02:47:14 PM
I found MMM in 2014. At the time, I believed I'd be working until 70. My wife was pregnant with our daughter and I was desperate to find a way to spend more time with her as she was growing up. Now I also have a son and starting late 2021, I'll be a full-time dad (/author with zero financial pressure to sell).
Post by: Buffaloski Boris on July 10, 2020, 03:47:41 PM
I'm joining the cohort. I was originally in 2024, but my time table has moved up!
I found MMM in 2014. At the time, I believed I'd be working until 70. My wife was pregnant with our daughter and I was desperate to find a way to spend more time with her as she was growing up. Now I also have a son and starting late 2021, I'll be a full-time dad (/author with zero financial pressure to sell).
That’s awesome @lemonlyman! Welcome to the bestest cohort!
Post by: dsw on July 15, 2020, 03:29:19 PM
It hasn't really struck me yet that I may have less than a year to go. I think it's still too many days to count. In any case, I'm happy to have finally figured out a plan. Hopefully it works out!
Post by: the_fixer on July 15, 2020, 04:26:21 PM
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Post by: the_fixer on July 15, 2020, 04:51:20 PM
I have been working from home since March and my personal life has vastly improved in pretty much the same ways I expected after FIRE other than traveling.
My work situation kind of sucks right now, I am busier than ever, our management thinks everyone is just slacking and doing nothing despite all metrics showing otherwise so they are putting pressure on to start traveling again.
Prior to this I was traveling to different states 2x a week and it sounds like that is what they want starting next Monday. I am honestly torn, I would love to fill up my bank accounts a little more but my wife is high risk and I do not want to get sick and give it to her or have long term health problems that will not allow us to live the life we were looking forward to in a little over a year and a half.
Not sure what I am going to do, I declared my wife and to a lesser extent myself meet the risk criteria they set out that is required to work from home back in March and they verbally confirmed that I am to work from home until we reach low level risk per the guidance from the company and the alert level has not changed but yet my local managers are telling me to travel (the same ones I was required to declare to)
It would be great to make it to 2021 but I am not sure what I will do at this point seems I am at a crossroads, I brought it up to my manager and he just blew me off saying well it is a funny thing and never really gave an answer.
Sorry for complaining, just been going back and forth and not sure what to do. I suppose I could go to HR (would get let go), refuse (would get let go) or just wait to get laid off (would at least extend my pay / benefits or travel and risk it.
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Post by: 4tify on July 15, 2020, 05:38:36 PM
I had been kicking around doing one more year and had pretty much resolved that would be the best path forward. It would allow me to max my 401k, my HSA and Roth by just working 3 or so months into 2022 so around 6 extra months however....
I have been working from home since March and my personal life has vastly improved in pretty much the same ways I expected after FIRE other than traveling.
My work situation kind of sucks right now, I am busier than ever, our management thinks everyone is just slacking and doing nothing despite all metrics showing otherwise so they are putting pressure on to start traveling again.
Prior to this I was traveling to different states 2x a week and it sounds like that is what they want starting next Monday. I am honestly torn, I would love to fill up my bank accounts a little more but my wife is high risk and I do not want to get sick and give it to her or have long term health problems that will not allow us to live the life we were looking forward to in a little over a year and a half.
Not sure what I am going to do, I declared my wife and to a lesser extent myself meet the risk criteria they set out that is required to work from home back in March and they verbally confirmed that I am to work from home until we reach low level risk per the guidance from the company and the alert level has not changed but yet my local managers are telling me to travel (the same ones I was required to declare to)
It would be great to make it to 2021 but I am not sure what I will do at this point seems I am at a crossroads, I brought it up to my manager and he just blew me off saying well it is a funny thing and never really gave an answer.
Sorry for complaining, just been going back and forth and not sure what to do. I suppose I could go to HR (would get let go), refuse (would get let go) or just wait to get laid off (would at least extend my pay / benefits or travel and risk it.
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This is a really tough position. I'm not sure what the legal implications are but you might want to talk to a lawyer. It doesn't seem right for a company to force you to take unnecessary risk. I'd definitely start documenting any and all conversations with your employer about this starting now.
Post by: dsw on July 16, 2020, 10:36:32 AM
I had been kicking around doing one more year and had pretty much resolved that would be the best path forward. It would allow me to max my 401k, my HSA and Roth by just working 3 or so months into 2022 so around 6 extra months however....
I have been working from home since March and my personal life has vastly improved in pretty much the same ways I expected after FIRE other than traveling.
My work situation kind of sucks right now, I am busier than ever, our management thinks everyone is just slacking and doing nothing despite all metrics showing otherwise so they are putting pressure on to start traveling again.
Prior to this I was traveling to different states 2x a week and it sounds like that is what they want starting next Monday. I am honestly torn, I would love to fill up my bank accounts a little more but my wife is high risk and I do not want to get sick and give it to her or have long term health problems that will not allow us to live the life we were looking forward to in a little over a year and a half.
Not sure what I am going to do, I declared my wife and to a lesser extent myself meet the risk criteria they set out that is required to work from home back in March and they verbally confirmed that I am to work from home until we reach low level risk per the guidance from the company and the alert level has not changed but yet my local managers are telling me to travel (the same ones I was required to declare to)
It would be great to make it to 2021 but I am not sure what I will do at this point seems I am at a crossroads, I brought it up to my manager and he just blew me off saying well it is a funny thing and never really gave an answer.
Sorry for complaining, just been going back and forth and not sure what to do. I suppose I could go to HR (would get let go), refuse (would get let go) or just wait to get laid off (would at least extend my pay / benefits or travel and risk it.
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Wow, that's a really tough one. That's not the kind of complaint requiring any apology. I personally do not plan to return to the office unless there is a vaccine or treatment available (which may well mean that I am not returning to the office). So I can completely understand why you wouldn't want to get on a plane and traveling every week. Obviously you'd have to evaluate the possible consequences of refusing, but I don't think anyone could blame you if you chose that route.
Post by: zinnie on July 16, 2020, 03:17:12 PM
I had been kicking around doing one more year and had pretty much resolved that would be the best path forward. It would allow me to max my 401k, my HSA and Roth by just working 3 or so months into 2022 so around 6 extra months however....
I have been working from home since March and my personal life has vastly improved in pretty much the same ways I expected after FIRE other than traveling.
My work situation kind of sucks right now, I am busier than ever, our management thinks everyone is just slacking and doing nothing despite all metrics showing otherwise so they are putting pressure on to start traveling again.
Prior to this I was traveling to different states 2x a week and it sounds like that is what they want starting next Monday. I am honestly torn, I would love to fill up my bank accounts a little more but my wife is high risk and I do not want to get sick and give it to her or have long term health problems that will not allow us to live the life we were looking forward to in a little over a year and a half.
Not sure what I am going to do, I declared my wife and to a lesser extent myself meet the risk criteria they set out that is required to work from home back in March and they verbally confirmed that I am to work from home until we reach low level risk per the guidance from the company and the alert level has not changed but yet my local managers are telling me to travel (the same ones I was required to declare to)
It would be great to make it to 2021 but I am not sure what I will do at this point seems I am at a crossroads, I brought it up to my manager and he just blew me off saying well it is a funny thing and never really gave an answer.
Sorry for complaining, just been going back and forth and not sure what to do. I suppose I could go to HR (would get let go), refuse (would get let go) or just wait to get laid off (would at least extend my pay / benefits or travel and risk it.
Sent from my iPhone using Tapatalk
What an awful situation to be in. Do you have any leverage here? Do you have the first bolded in writing?
On bolded #2--just from an outsider's perspective--this is a TERRIBLE company. Before even talking to HR you assume you will be let go for bringing a legitimate health concern to them--something they already promised you--in the middle of a pandemic? Honestly, if FU money isn't for a situation like this, I don't know what is.
Sorry you're in this position and wishing you the best.
Post by: LightTripper on July 16, 2020, 04:50:36 PM
I am also sad I don't know about US employment law, but in the UK this is the kind of situation where if you refused to travel on grounds of your wife's health conditions I would expect you to have some protection OR at worst to get paid something to go away. Do you think there is any chance you could reach an outcome like that? I would agree with documenting everything (but again, have no clue on US employment law, so I don't know what your protections are - could it be worth talking to a lawyer to check your position?)
Sorry they are being such shits. Even in the UK (where rates are now low, though not declining as fast as I'd like to see) we (and most other offices I know of) continue to encourage people to work from home. Is there an objective business benefit to starting to travel again for your employer, or is it just some kind of macho proof that they are "back to business as usual"?
Anyway, take some time to think about your options. I really hope you can sort something out so you don't have to travel again.
Post by: ScreamingHeadGuy on July 17, 2020, 08:11:29 PM
So far we have 42 folks here who will be FIRE in 2021 and 4 will OLY into 2020.
Average age of 2021ers is 46.65 (at FIRE date). 2020 average age is 48.32 (so far). 2019 average age was 47.38.
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Post by: ScreamingHeadGuy on July 17, 2020, 08:19:48 PM
I had been kicking around doing one more year and had pretty much resolved that would be the best path forward. It would allow me to max my 401k, my HSA and Roth by just working 3 or so months into 2022 so around 6 extra months however....
I have been working from home since March and my personal life has vastly improved in pretty much the same ways I expected after FIRE other than traveling.
My work situation kind of sucks right now, I am busier than ever, our management thinks everyone is just slacking and doing nothing despite all metrics showing otherwise so they are putting pressure on to start traveling again.
Prior to this I was traveling to different states 2x a week and it sounds like that is what they want starting next Monday. I am honestly torn, I would love to fill up my bank accounts a little more but my wife is high risk and I do not want to get sick and give it to her or have long term health problems that will not allow us to live the life we were looking forward to in a little over a year and a half.
Not sure what I am going to do, I declared my wife and to a lesser extent myself meet the risk criteria they set out that is required to work from home back in March and they verbally confirmed that I am to work from home until we reach low level risk per the guidance from the company and the alert level has not changed but yet my local managers are telling me to travel (the same ones I was required to declare to)
It would be great to make it to 2021 but I am not sure what I will do at this point seems I am at a crossroads, I brought it up to my manager and he just blew me off saying well it is a funny thing and never really gave an answer.
Sorry for complaining, just been going back and forth and not sure what to do. I suppose I could go to HR (would get let go), refuse (would get let go) or just wait to get laid off (would at least extend my pay / benefits or travel and risk it.
Sent from my iPhone using Tapatalk
Well, since you definitely have FU money why not just refuse to go? State that you will not be traveling because of the aforementioned health reasons and then just don't. Company will either: 1)get somebody else to do it - maybe releasing you or maybe not OR 2)assume you'll do it anyway but get egg on its face when you stick to your guns - then maybe releasing your or maybe not. From my understanding if you don't resign but stick to your guns you've got a 50% chance of being let go; if you do resign you've got a 100% chance of being gone.
I guess your choice could be driven by which course of action you see as more likely to get a "shut up and go away" package - if your employer does that kind of thing. Will they pay you to go away because you're suddenly unable to perform your work duties (due to health reasons - press how that sounds like discriminating based on a medical condition but you'll gladly keep your mouth shut about this situation for $xxxx).
Post by: 4tify on July 18, 2020, 07:49:42 AM
I just got a new boss and she also thinks everyone is hanging out because "things are slow with covid," which couldn't be more untrue. My department is busier than ever, and I'm being tortured with all-day zooms. I'm over having a boss. Period.
Giving notice early January will allow me to extend double the amount of time I have to, while diverting as much of my paycheck into 401k as possible. That will reduce my tax liability for the year and might even allow me to max out.
Now I just have to get my head on straight about shifting identities. I have an other post going on that one. Are any of you guys having trouble making the shift in your minds/identity as you approach leaving mandatory work??
Post by: nazar on July 18, 2020, 08:46:56 AM
Ok all this talk about your situation @the_fixer has inspired me to update my notice date to January 5th!!Actually, this long term work from home scenario make it easier to visualize. Like you, I am busier than ever with work, but without a commute, and time to do small things as needed during the day like washing a load of laundry overall I feel like I have gotten back a bit of my life and look forward to next year when it is all mine.
I just got a new boss and she also thinks everyone is hanging out because "things are slow with covid," which couldn't be more untrue. My department is busier than ever, and I'm being tortured with all-day zooms. I'm over having a boss. Period.
Giving notice early January will allow me to extend double the amount of time I have to, while diverting as much of my paycheck into 401k as possible. That will reduce my tax liability for the year and might even allow me to max out.
Now I just have to get my head on straight about shifting identities. I have an other post going on that one. Are any of you guys having trouble making the shift in your minds/identity as you approach leaving mandatory work??
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Post by: the_fixer on July 19, 2020, 05:19:32 PM
I know it is really easy to say this about somebody else's situation - but if you are so close to ready to go would it be so bad to exit now and then have to do a bit of part time work or consulting for a couple of years - or maybe even an intense year of travel post-pandemic as a one-off?No real advantage to them, everything is still getting done as fast if not faster but by different means. It comes across as they just want everything to be back to normal. Unfortunately that is not reality right now.
I am also sad I don't know about US employment law, but in the UK this is the kind of situation where if you refused to travel on grounds of your wife's health conditions I would expect you to have some protection OR at worst to get paid something to go away. Do you think there is any chance you could reach an outcome like that? I would agree with documenting everything (but again, have no clue on US employment law, so I don't know what your protections are - could it be worth talking to a lawyer to check your position?)
Sorry they are being such shits. Even in the UK (where rates are now low, though not declining as fast as I'd like to see) we (and most other offices I know of) continue to encourage people to work from home. Is there an objective business benefit to starting to travel again for your employer, or is it just some kind of macho proof that they are "back to business as usual"?
Anyway, take some time to think about your options. I really hope you can sort something out so you don't have to travel again.
The CEO even put out a video saying if the governor does not let us get back to normal they might move the company to a friendlier state that is open.
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Post by: the_fixer on July 19, 2020, 05:21:19 PM
I have an email saying to self disclose to your manager, I have an email I sent to my manager but everything beyond that has been verbal phone communications.I had been kicking around doing one more year and had pretty much resolved that would be the best path forward. It would allow me to max my 401k, my HSA and Roth by just working 3 or so months into 2022 so around 6 extra months however....
I have been working from home since March and my personal life has vastly improved in pretty much the same ways I expected after FIRE other than traveling.
My work situation kind of sucks right now, I am busier than ever, our management thinks everyone is just slacking and doing nothing despite all metrics showing otherwise so they are putting pressure on to start traveling again.
Prior to this I was traveling to different states 2x a week and it sounds like that is what they want starting next Monday. I am honestly torn, I would love to fill up my bank accounts a little more but my wife is high risk and I do not want to get sick and give it to her or have long term health problems that will not allow us to live the life we were looking forward to in a little over a year and a half.
Not sure what I am going to do, I declared my wife and to a lesser extent myself meet the risk criteria they set out that is required to work from home back in March and they verbally confirmed that I am to work from home until we reach low level risk per the guidance from the company and the alert level has not changed but yet my local managers are telling me to travel (the same ones I was required to declare to)
It would be great to make it to 2021 but I am not sure what I will do at this point seems I am at a crossroads, I brought it up to my manager and he just blew me off saying well it is a funny thing and never really gave an answer.
Sorry for complaining, just been going back and forth and not sure what to do. I suppose I could go to HR (would get let go), refuse (would get let go) or just wait to get laid off (would at least extend my pay / benefits or travel and risk it.
Sent from my iPhone using Tapatalk
What an awful situation to be in. Do you have any leverage here? Do you have the first bolded in writing?
On bolded #2--just from an outsider's perspective--this is a TERRIBLE company. Before even talking to HR you assume you will be let go for bringing a legitimate health concern to them--something they already promised you--in the middle of a pandemic? Honestly, if FU money isn't for a situation like this, I don't know what is.
Sorry you're in this position and wishing you the best.
I will do a better job of documenting going forward.
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Post by: the_fixer on July 19, 2020, 05:25:38 PM
I think this is the likely path forward, i will do my work to the best of my ability but I am not going to put my wife or myself at risk, if they do not like it they can decide how to handle it.I had been kicking around doing one more year and had pretty much resolved that would be the best path forward. It would allow me to max my 401k, my HSA and Roth by just working 3 or so months into 2022 so around 6 extra months however....
I have been working from home since March and my personal life has vastly improved in pretty much the same ways I expected after FIRE other than traveling.
My work situation kind of sucks right now, I am busier than ever, our management thinks everyone is just slacking and doing nothing despite all metrics showing otherwise so they are putting pressure on to start traveling again.
Prior to this I was traveling to different states 2x a week and it sounds like that is what they want starting next Monday. I am honestly torn, I would love to fill up my bank accounts a little more but my wife is high risk and I do not want to get sick and give it to her or have long term health problems that will not allow us to live the life we were looking forward to in a little over a year and a half.
Not sure what I am going to do, I declared my wife and to a lesser extent myself meet the risk criteria they set out that is required to work from home back in March and they verbally confirmed that I am to work from home until we reach low level risk per the guidance from the company and the alert level has not changed but yet my local managers are telling me to travel (the same ones I was required to declare to)
It would be great to make it to 2021 but I am not sure what I will do at this point seems I am at a crossroads, I brought it up to my manager and he just blew me off saying well it is a funny thing and never really gave an answer.
Sorry for complaining, just been going back and forth and not sure what to do. I suppose I could go to HR (would get let go), refuse (would get let go) or just wait to get laid off (would at least extend my pay / benefits or travel and risk it.
Sent from my iPhone using Tapatalk
Well, since you definitely have FU money why not just refuse to go? State that you will not be traveling because of the aforementioned health reasons and then just don't. Company will either: 1)get somebody else to do it - maybe releasing you or maybe not OR 2)assume you'll do it anyway but get egg on its face when you stick to your guns - then maybe releasing your or maybe not. From my understanding if you don't resign but stick to your guns you've got a 50% chance of being let go; if you do resign you've got a 100% chance of being gone.
I guess your choice could be driven by which course of action you see as more likely to get a "shut up and go away" package - if your employer does that kind of thing. Will they pay you to go away because you're suddenly unable to perform your work duties (due to health reasons - press how that sounds like discriminating based on a medical condition but you'll gladly keep your mouth shut about this situation for $xxxx).
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Post by: Arbitrage on July 20, 2020, 09:57:18 AM
Post by: logjammin on July 20, 2020, 04:01:05 PM
In non-RE news, there's an open position in my office that I'm a fantastic fit for. It'd be an intellectually interesting role and a great opportunity to keep myself highly relevant, but, it's a high stress role and I'm weighing my interest in the role with keeping things steady. I moved from a high stress role to my current easier spot in January as part of a reorg and I love the lesser stress but if I have to work, I'd rather it be doing something that matters a bit more.
I'm leaning towards trying to take the role. Hopefully I'm not insane.
Post by: gary3411 on July 20, 2020, 08:58:56 PM
Post by: phildonnia on July 22, 2020, 10:45:21 AM
Add me to the list.
Is there a list? I wasn't in the list posted earlier, though I've posted in this topic.
Maybe we could make a shared Google Doc or something to track who's in?
If you're wondering: I'm retiring June 1, 2021, aged 50.
Post by: dsw on July 22, 2020, 01:45:41 PM
Add me to the list.
Is there a list? I wasn't in the list posted earlier, though I've posted in this topic.
Maybe we could make a shared Google Doc or something to track who's in?
If you're wondering: I'm retiring June 1, 2021, aged 50.
There's one that gets updated in this board. If you scroll up, you'll see it in ScreamingHeadGuy's post. It looks like you're not on it though. That should be easy enough to fix.
Post by: OmgLmg on August 01, 2020, 05:52:47 AM
I am both excited by and nervous for this next big switch. When I started my FI journey several years ago I hated my job and this was a lifeline. However, at the moment I don't love my job but my coworkers are amazing people and I work for an inspiring organization that allows me to contribute to making the world a better place. I may have trouble walking away even though it is absolutely the right choice.
Post by: Buffaloski Boris on August 01, 2020, 04:14:22 PM
I've been hesitant to put this in writing, but I think the external accountability will be good. Add me to the list for May 2021, I'll be 39. I am so excited to hit this milestone before my 40th!Yeah, I’m struggling with much the same sort of issue. It’s really a lot like the movie “Office Space.” I’m enjoying work a lot more and not really burning to leave. Even though it’s arguably the smart thing to do at my age.
I am both excited by and nervous for this next big switch. When I started my FI journey several years ago I hated my job and this was a lifeline. However, at the moment I don't love my job but my coworkers are amazing people and I work for an inspiring organization that allows me to contribute to making the world a better place. I may have trouble walking away even though it is absolutely the right choice.
Post by: Bateaux on August 02, 2020, 04:07:37 PM
I've been hesitant to put this in writing, but I think the external accountability will be good. Add me to the list for May 2021, I'll be 39. I am so excited to hit this milestone before my 40th!Yeah, I’m struggling with much the same sort of issue. It’s really a lot like the movie “Office Space.” I’m enjoying work a lot more and not really burning to leave. Even though it’s arguably the smart thing to do at my age.
I am both excited by and nervous for this next big switch. When I started my FI journey several years ago I hated my job and this was a lifeline. However, at the moment I don't love my job but my coworkers are amazing people and I work for an inspiring organization that allows me to contribute to making the world a better place. I may have trouble walking away even though it is absolutely the right choice.
My insecure feelings about the future and comfort at work are coinsiding. Possibly jumping to class of 2023.
Post by: Buffaloski Boris on August 02, 2020, 05:18:46 PM
Given your ability to secure health insurance in retirement at age 55, it might be the prudent thing. I cross the “continue health insurance into retirement” threshold in a few months. I’m enjoying the job and the paychecks though so who knows?I've been hesitant to put this in writing, but I think the external accountability will be good. Add me to the list for May 2021, I'll be 39. I am so excited to hit this milestone before my 40th!Yeah, I’m struggling with much the same sort of issue. It’s really a lot like the movie “Office Space.” I’m enjoying work a lot more and not really burning to leave. Even though it’s arguably the smart thing to do at my age.
I am both excited by and nervous for this next big switch. When I started my FI journey several years ago I hated my job and this was a lifeline. However, at the moment I don't love my job but my coworkers are amazing people and I work for an inspiring organization that allows me to contribute to making the world a better place. I may have trouble walking away even though it is absolutely the right choice.
My insecure feelings about the future and comfort at work are coinsiding. Possibly jumping to class of 2023.
Post by: ScreamingHeadGuy on August 02, 2020, 07:57:44 PM
December 2018 - 79.7% (22.3 x expenses)
December 2019 - 107.3% (30.0 x expenses)
January 2020 - 109.3% (30.6 x expenses)
February 2020 - 103.7% (29.0 x expenses)
March 2020 - 94.9% (26.6 x expenses)
April 2020 - 100.4% (28.1 x expenses)
May 2020 - 105.3% (29.5 x expenses)
June 2020 - 106.9% (29.9 x expenses)
July 2020 - 111.2% (31.1 x expenses)
My invested assets are at a new all-time high (although there might have been a day in February when it was higher than this: I didn't go back and calculate).
Equities vs. bonds allocation is pretty close to target. Domestic- vs. international- equities ratio needs some work over the next few months.
Life:
Weight loss had stalled for most of July - only lost 0.4 pounds in the last three weeks. But I have dropped below my initial goal, so that's good news. Now to see how much progress I can make towards my stretch goal: 2.7 pounds more to go.
At work July had been a super-stressful month. Ever since returning from the three-day Independence Day weekend it has been a daily battle to not deploy the FU parachute when someone (co-worker or client) makes some unreasonable (IMHO) request. Maybe I've just got hardcore "senioritis" and my mind just isn't into work anymore.
Wife and I celebrated our 10th anniversary this past month. I recreated her wedding bouquet (only had to substitute one kind of flower) but couldn't get the same kind of cake we'd had (would have needed to have ordered it weeks in advance - and probably paid way too much). We had take-out Mexican food for our dinner - delicious, but not my opinion of a romantic event (of course any meal with a six-year-old and a five-month-old dog isn't a mood-setter).
Wife has a part-time job with the US Census Bureau now. I think she only has one more conference call training session before she's set loose upon the general public in our county. I sometimes get the feeling I'm more excited about this once-a-decade opportunity than she is (How cool to get to say "I'm a census taker."!?).
Twenty-seven more weeks to go until my planned FIRE date (six weeks and one month). But I don't want to rush it - I just think of all the things I've got to look forward to in my life between now and then.
Post by: MoStash on August 12, 2020, 09:59:26 AM
I would like to be able to take my mother to doctors appointments every week so I asked for a 4 day work week. I offered to do four 10-hour days or take a 20% pay cut and work 32 hours per week. I have been an excellent employee for 8 years. After lots of hemming and hawing, they said no.
So I put in PTO requests for every Wednesday for the next 6 months. When my PTO runs out I will ride off into the sunset. Living on the west coast of Florida, the sunsets are glorious!
Unless the ACA goes away; if that happens we will have to reconsider. My husband is 51. He quit last year when his company was sold and his job went from being pretty good to unbearable. Now he is a part-time kayak tour guide and loving life.
Post by: Buffaloski Boris on August 12, 2020, 10:06:21 AM
Sign me up please! 2/1/21, age 53.
I would like to be able to take my mother to doctors appointments every week so I asked for a 4 day work week. I offered to do four 10-hour days or take a 20% pay cut and work 32 hours per week. I have been an excellent employee for 8 years. After lots of hemming and hawing, they said no.
So I put in PTO requests for every Wednesday for the next 6 months. When my PTO runs out I will ride off into the sunset. Living on the west coast of Florida, the sunsets are glorious!
Unless the ACA goes away; if that happens we will have to reconsider. My husband is 51. He quit last year when his company was sold and his job went from being pretty good to unbearable. Now he is a part-time kayak tour guide and loving life.
Welcome to the cohort!
Post by: Arbitrage on August 16, 2020, 10:14:01 AM
- We visited with an old high school classmate we hadn't seen in 20+ years but lives near our FIRE location - and she revealed that she's a FIRE nerd herself, hoping to get out in the next few years. Had a great time catching up, and she also has kids the exact same age as our kids! They got along great (as did we) and hopefully will give us something to help ease the transition to a new location.
- I gave a OMY back in the depths of the market crash, though I see I'm still listed on the 2021 roster. Though we might not hit my desired number by the date I gave - I'm pretty heavily invested in market categories that still haven't fully recovered - we're back to targeting 2021! The reason is that DW got on board with the idea with her transitioning to a part-time remote role in her current job for a year or so (depending upon conditions) after we move. Now, she still has to secure that position, but given her importance to the company she's pretty sure she can make it happen. With her part-time income basically being enough to cover all living expenses if we're mortgage-free, +/- health insurance considerations, that gives us a big boost of confidence that it can happen on this timeline at whatever number we're at by then. I might be able to do occasional work for my current company, which would be another big safety factor, but want to be able to plan without that crutch.
- So, I'm officially back to 2021, and the logistics planning is starting to get a bit more acute. Since we plan to move as part of this, and have kids in school (such as it is these days), there's a long on-ramp to consider. Aiming to buy the house in the new place before selling the current place.
Post by: Ladychips on August 16, 2020, 10:44:15 AM
Post by: friedmmj on August 16, 2020, 11:03:32 AM
Sign me up please! 2/1/21, age 53.
I would like to be able to take my mother to doctors appointments every week so I asked for a 4 day work week. I offered to do four 10-hour days or take a 20% pay cut and work 32 hours per week. I have been an excellent employee for 8 years. After lots of hemming and hawing, they said no.
So I put in PTO requests for every Wednesday for the next 6 months. When my PTO runs out I will ride off into the sunset. Living on the west coast of Florida, the sunsets are glorious!
Unless the ACA goes away; if that happens we will have to reconsider. My husband is 51. He quit last year when his company was sold and his job went from being pretty good to unbearable. Now he is a part-time kayak tour guide and loving life.
PT kayak tour guide sounds like a perfect retirement gig. Does he work for himself or for a local tour company? What type of training or certification did that require?
Post by: LightTripper on August 20, 2020, 08:34:51 AM
Any developments from your work @the_fixer? I hope they are being reasonable.
@ScreamingHeadGuy this really resonated with me: "daily battle to not deploy the FU parachute" and also "Maybe I've just got hardcore "senioritis" and my mind just isn't into work anymore." Because I've been at the same firm for 20+ years I've no idea if it's really become as toxic as I think it has. Possibly I've changed more than it has. Impossible to tell. Either way, out seems good!
Anyway, hope everyone is doing well. I just fired up my spreadsheet and it says 149 more working days (assuming I work to the end of April, and netting off annual leave and bank holidays). But I'm actually going to ask to go to a flexible contract from 1/1, so I may only have 71 days of "work commitment" left to go. That would be better! Talking to my big boss about that tomorrow... so wish me luck!
Post by: the_fixer on August 20, 2020, 02:54:37 PM
Hello all! Fell off the thread for a bit (work crazy busy) but have been on calls all day and need to decompress, so thought I'd drop in.
Any developments from your work @the_fixer? I hope they are being reasonable.
I have decided that I am going to do my job on my terms and if they do not like it I will ask for a package, they can fire me or I will walk. If possible I would really like to make it to the end of the year as I get another year credit in my pension but I have made peace with leaving at this point.
Just a few of the reasons.
The majority of people not wearing masks at work and not social distancing despite it being required.
Got notified yet again that I was working in the same small space as a coworker that came down sick. That makes the 3rd time
My boss actually had the gall to say during a private call with me...
“we can not all hide in our houses forever” I responded sternly (as stern as I get LOL) that I have been busier than ever, I have done everything that needed to be done including going to the office despite being on the high risk list. He responded that he was not talking about me but followed up that... see it is a funny thing, work needs to get done and we can not all hide in our houses forever.
No pay raises this year possibly some pay cuts
On the plus side they are looking to cut some staff and talking about an early retirement package. I am going to recommend that they also offer a voluntary work force reduction package as well and put up my hand.
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Post by: LightTripper on August 20, 2020, 03:04:20 PM
Post by: the_fixer on August 20, 2020, 03:07:55 PM
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Post by: moneypitfeeder on August 20, 2020, 04:34:12 PM
Post by: Peter Parker on August 22, 2020, 07:17:55 PM
What would you do....
I have enjoyed my job and have been FI for awhile now. I really could hang it up anytime, but I recently got a promotion that I really like--one that I had hoped to get (and IMHO deserved) several (8) years ago. Last year, I had some leverage--I had another job offer that was higher pay, much less commute, and better working conditions. I said I was going to leave unless I got the promotion. They gave it to me, but labeled it "interim." I accepted and my last year has been one of my most satisfying years in a very satisfying career....
Despite the promotion, I had a "drop-dead" date to retire in 2021. I have settled on 4/31/2021. I'm still going to do this, but my question is about timing my notice.
I will be eligible for my LAST raise in August. This raise will significantly increase my pension, so I don't want to give them any excuse not to give me my raise. Thus I will not give notice until after this date because I don't want them to revoke my "interim" promotion since I will be leaving. However, I do want give them as much notice as possible because: (a) they have been good to me; (b) I don't want the people I supervise to be severely affected; (c) I'd like the opportunity to train the person that will take my place....
That being said, in the back of my head, I'm afraid, even after my last raise, they may revoke my interim status and have me go back to my old position (in which case I'd just leave). But that wouldn't maximize my retirement and would cause problems (a) through (c) above to occur.
So my question is....When would you give notice? Right after my last raise? January (4 months notice)? Two weeks notice? What would the MMM/Class of 2021 Cohort suggest?
Just an update...I got my raise (I'm topped out). I think I'm going to give notice in November--that's six months before my last day of work (4/30/2021). I think I have plenty of leverage for them not to revoke my "interim" status in that if they pulled that crap, Id just walk. I'm also feeling that the sooner I give notice, the better. We have been going through a restructuring of sorts. It is hard for me to keep my mouth shut about the future, when I know what it is going to be....I think it would be easier for everyone if they can plan for my exit--and I will feel better that my people will know...
Post by: MoStash on August 23, 2020, 01:15:39 PM
PT kayak tour guide sounds like a perfect retirement gig. Does he work for himself or for a local tour company? What type of training or certification did that require?
He is the only employee of an owner-operator couple. He had to get CPR certified for their insurance, and they trained him to empty the water from a flipped kayak and get a tourist back inside while in deep water. He is a smart, funny extrovert with a great knowledge of our local tides, currents, flora, fauna, and history who was kayaking every day anyway so it was a perfect fit.
Post by: LightTripper on August 24, 2020, 08:29:10 AM
Just an update...I got my raise (I'm topped out). I think I'm going to give notice in November--that's six months before my last day of work (4/30/2021). I think I have plenty of leverage for them not to revoke my "interim" status in that if they pulled that crap, Id just walk. I'm also feeling that the sooner I give notice, the better. We have been going through a restructuring of sorts. It is hard for me to keep my mouth shut about the future, when I know what it is going to be....I think it would be easier for everyone if they can plan for my exit--and I will feel better that my people will know...
Congratulations on the raise! Hopefully your immediate managers don't have much incentive to rescind the promotion and raise even if they could (as any impact on your pension should come out of a different pot/budget entirely?)
I think the advice I've seen generally is to leave it as late as possible, but like you I think I will feel better if I give my employer as much chance as possible to create a smooth transition. That's partly why I'm requesting to go to a flexible contract. It's possible that on a part-time basis I'll start enjoying my job again and actually want to carry on - but I think it's more likely that this doesn't happen, in which case it will allow a more phased exit and more time to transition some of my job to other people (particularly the informal things I pick up because nobody else does - but aren't written down anywhere).
Whether they take advantage of that or not is up to them, but at least we'll know we've done our best to make it smooth (and if things did go down hill once you announce your retirement, you could in theory pull your exit date forward and just walk away as you said).
Must feel nice to have a firm date and plan!
Post by: nazar on August 24, 2020, 08:43:19 AM
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Post by: LightTripper on August 24, 2020, 10:40:43 AM
@LightTripper I hope your meeting goes well, I wish you the best of luck!!
Thanks @moneypitfeeder! So far so good (but then my Big Boss is very reasonable and professional, so I kind of knew it would). Still nice to have it done though. Now the ball is in her court, and she will come back with some ideas on how we could structure things based on our discussion.
Post by: amberfocus on August 24, 2020, 04:41:53 PM
I've been lurking in this thread, creepin' on you all, for the better part of this year, trying to decide if I want to officially throw my hat into the class of 2021 FIRE cohort ring. My original timeline targeted FIRE in 2024 (when I turn 40) or 2025 (when the mortgage is paid off), but the income, savings, and market return numbers have really snowballed in our favor over the past few years (or decade, really), and we've managed to hit our FI numbers way ahead of schedule.
My FIRE date was never explicitly pegged on hitting a specific NW number, or even disliking my job, so I would have been perfectly happy to keep chugging along (and continue running up the score) until 2024/5 rolled around. However, after a really rough year at work in 2019 during which I suffered repeated mental breakdowns... I realized that maybe I ought to seriously consider deploying the FU stash, and just get out, especially if the situation does not improve.
So a new plan was hatched, where we would tie up various loose ends this year (mostly involving big ticket home repair projects that we've been putting off), and then I can give notice and be donezo either late 2020, or early 2021. That plan lasted all of two months before Covid hit, portfolios plunged (mine was still allocated 90/10, so it got pretty ugly), and I desperately tried to talk my exhausted and stressed out self into sucking it up for the remaining duration of the pandemic, so that I could keep buying low through the next recession. I am so confused by the market recovery, and fear that it isn't real/won't last.
(Also, most of the house projects never got done, because bringing in potentially plague-ridden contractors didn't feel right. Plus, they were all already booked by everyone else trying to do the same exact thing we were doing.)
Anyway, the main reason I'm waffling on 2021 is because the future still feels so uncertain. I want to see if there's a fall wave, if the vaccines and therapies work, if the market crashes again (and stays crashed this time), or if President Fuckface Von Clownstick actually gets re-elected. And I still have no idea how these factors will influence my decision to move forward with FIRE in 2021. Am I the only one who feels that way, and is on the fence as a result?
At the end of the day, I just have to convince myself that it's win/win either way -- either I hold onto the security (and salary) of a genuinely impactful job (I'm actually doing Covid research these days, which is not helping the burnout, guilt, or ambivalence that I'm feeling about walking out), or I get to enjoy some well-earned freedom with the rest of you fine folks.
In the meantime, checking these forums keeps me sane. This is quite a year, and quite a journey to be on, so thank you all.
Post by: moneypitfeeder on August 24, 2020, 06:01:43 PM
Post by: ScreamingHeadGuy on August 24, 2020, 08:27:54 PM
Anyway, the main reason I'm waffling on 2021 is because the future still feels so uncertain. I want to see if there's a fall wave, if the vaccines and therapies work, if the market crashes again (and stays crashed this time), or if President Fuckface Von Clownstick actually gets re-elected. And I still have no idea how these factors will influence my decision to move forward with FIRE in 2021. Am I the only one who feels that way, and is on the fence as a result?
No, you’re not alone. I went through this same phase, except for the pandemic part, two years ago myself. It took some soul-searching, but eventually I proved to myself the math worked out and I needed to quit worrying and trust numbers.
Now I am still hanging on because my plan says to (even though the math tells me to flip the desk and storm out - but only figuratively because I don’t want to have to clean up a mess in my basement - yesterday).
Post by: alcon835 on August 25, 2020, 11:11:46 AM
Hello there, all my lovely fellow Mustache people!
I've been lurking in this thread, creepin' on you all, for the better part of this year, trying to decide if I want to officially throw my hat into the class of 2021 FIRE cohort ring. My original timeline targeted FIRE in 2024 (when I turn 40) or 2025 (when the mortgage is paid off), but the income, savings, and market return numbers have really snowballed in our favor over the past few years (or decade, really), and we've managed to hit our FI numbers way ahead of schedule.
My FIRE date was never explicitly pegged on hitting a specific NW number, or even disliking my job, so I would have been perfectly happy to keep chugging along (and continue running up the score) until 2024/5 rolled around. However, after a really rough year at work in 2019 during which I suffered repeated mental breakdowns... I realized that maybe I ought to seriously consider deploying the FU stash, and just get out, especially if the situation does not improve.
So a new plan was hatched, where we would tie up various loose ends this year (mostly involving big ticket home repair projects that we've been putting off), and then I can give notice and be donezo either late 2020, or early 2021. That plan lasted all of two months before Covid hit, portfolios plunged (mine was still allocated 90/10, so it got pretty ugly), and I desperately tried to talk my exhausted and stressed out self into sucking it up for the remaining duration of the pandemic, so that I could keep buying low through the next recession. I am so confused by the market recovery, and fear that it isn't real/won't last.
(Also, most of the house projects never got done, because bringing in potentially plague-ridden contractors didn't feel right. Plus, they were all already booked by everyone else trying to do the same exact thing we were doing.)
Anyway, the main reason I'm waffling on 2021 is because the future still feels so uncertain. I want to see if there's a fall wave, if the vaccines and therapies work, if the market crashes again (and stays crashed this time), or if President Fuckface Von Clownstick actually gets re-elected. And I still have no idea how these factors will influence my decision to move forward with FIRE in 2021. Am I the only one who feels that way, and is on the fence as a result?
At the end of the day, I just have to convince myself that it's win/win either way -- either I hold onto the security (and salary) of a genuinely impactful job (I'm actually doing Covid research these days, which is not helping the burnout, guilt, or ambivalence that I'm feeling about walking out), or I get to enjoy some well-earned freedom with the rest of you fine folks.
In the meantime, checking these forums keeps me sane. This is quite a year, and quite a journey to be on, so thank you all.
@amberfocus Why not start with a sabbatical? "FIRE" temporarily, take a year off to recharge and re-calibrate. If in 12 months you look around and FIRE isn't long-term manageable, go back into the work force and build up your nest egg so more. I have to imagine, any number high enough for you to consider FIRE this year must also be high enough to give you a 1-year reprieve from the craziness of work.
Post by: frizzywhiskers on August 25, 2020, 02:30:28 PM
Post by: honeyfill on August 25, 2020, 03:51:01 PM
Hello there, all my lovely fellow Mustache people!
I've been lurking in this thread, creepin' on you all, for the better part of this year, trying to decide if I want to officially throw my hat into the class of 2021 FIRE cohort ring. My original timeline targeted FIRE in 2024 (when I turn 40) or 2025 (when the mortgage is paid off), but the income, savings, and market return numbers have really snowballed in our favor over the past few years (or decade, really), and we've managed to hit our FI numbers way ahead of schedule.
My FIRE date was never explicitly pegged on hitting a specific NW number, or even disliking my job, so I would have been perfectly happy to keep chugging along (and continue running up the score) until 2024/5 rolled around. However, after a really rough year at work in 2019 during which I suffered repeated mental breakdowns... I realized that maybe I ought to seriously consider deploying the FU stash, and just get out, especially if the situation does not improve.
So a new plan was hatched, where we would tie up various loose ends this year (mostly involving big ticket home repair projects that we've been putting off), and then I can give notice and be donezo either late 2020, or early 2021. That plan lasted all of two months before Covid hit, portfolios plunged (mine was still allocated 90/10, so it got pretty ugly), and I desperately tried to talk my exhausted and stressed out self into sucking it up for the remaining duration of the pandemic, so that I could keep buying low through the next recession. I am so confused by the market recovery, and fear that it isn't real/won't last.
(Also, most of the house projects never got done, because bringing in potentially plague-ridden contractors didn't feel right. Plus, they were all already booked by everyone else trying to do the same exact thing we were doing.)
Anyway, the main reason I'm waffling on 2021 is because the future still feels so uncertain. I want to see if there's a fall wave, if the vaccines and therapies work, if the market crashes again (and stays crashed this time), or if President Fuckface Von Clownstick actually gets re-elected. And I still have no idea how these factors will influence my decision to move forward with FIRE in 2021. Am I the only one who feels that way, and is on the fence as a result?
At the end of the day, I just have to convince myself that it's win/win either way -- either I hold onto the security (and salary) of a genuinely impactful job (I'm actually doing Covid research these days, which is not helping the burnout, guilt, or ambivalence that I'm feeling about walking out), or I get to enjoy some well-earned freedom with the rest of you fine folks.
In the meantime, checking these forums keeps me sane. This is quite a year, and quite a journey to be on, so thank you all.
@amberfocus Why not start with a sabbatical? "FIRE" temporarily, take a year off to recharge and re-calibrate. If in 12 months you look around and FIRE isn't long-term manageable, go back into the work force and build up your nest egg so more. I have to imagine, any number high enough for you to consider FIRE this year must also be high enough to give you a 1-year reprieve from the craziness of work.
I second this recommendation. I originally retired in 2018 but went back to work a year later. I was okay financially but I was not mentally prepared. I have worked 13 months at a new job which pays more and is more fun than my last job. My stache is up quite a bit and I am in a much better place mentally. I plan to retire sometime in the next 8 months but I have not decided exactly when.
Post by: ixtap on August 25, 2020, 05:27:51 PM
Post by: amberfocus on August 25, 2020, 11:33:53 PM
@amberfocus hang in there! We are here if you decide 2020,2021 or beyond is your date :) I'll let others weigh in on the market, if my fire was reliant on them I don't know where my confidence would be either. The only thing I will add is thank you for any work you are doing to combat this crazy virus, you are greatly appreciated.
Awww, that truly warmed my heart. Sometimes, a kind word from a stranger makes all the difference. Thank you. <3
If you are at or near burnout, then you should (at a minimum) consider a change if you want to continue working. But if you are getting personal satisfaction working, and if you are really needing the market to be more stable to hit your goals, it might be worth sticking it out a bit longer.
You're totally right about making some changes. I realize now that I was letting the short-term urgency of the Covid situation drive me to overwork (60+ hour weeks), which eventually led to a hard crash after doing this for months on end. And with everyone else feeling the same sense of urgency, I was egged on, rather than encouraged to function in a more sustainable manner.
I'm starting to have the conversations to rectify this. If nothing else, I don't want a potential exit to be attributed to hard feelings regarding burnout; and in the best case scenario, it would enable me to last longer if I want to do so. I've already offloaded some responsibilities that I was less enthusiastic about, and have modulated expectations in other areas. I'm hoping this will translate to better quality of life in the near future.
Anyway, the main reason I'm waffling on 2021 is because the future still feels so uncertain. I want to see if there's a fall wave, if the vaccines and therapies work, if the market crashes again (and stays crashed this time), or if President Fuckface Von Clownstick actually gets re-elected. And I still have no idea how these factors will influence my decision to move forward with FIRE in 2021. Am I the only one who feels that way, and is on the fence as a result?
No, you’re not alone. I went through this same phase, except for the pandemic part, two years ago myself. It took some soul-searching, but eventually I proved to myself the math worked out and I needed to quit worrying and trust numbers.
Now I am still hanging on because my plan says to (even though the math tells me to flip the desk and storm out - but only figuratively because I don’t want to have to clean up a mess in my basement - yesterday).
Thank you for that perspective. Soul-searching is definitely on order, although the numbers themselves are actually the easiest part for me. Truth be told, the portfolio's never been better (especially after I dumped the cash I'd set aside for bond reallocation into stocks instead when the market started to tank). Obviously, another major crash would still hurt, but could at least be somewhat mitigated if I actually execute my planned reallocation (which I will re-attempt in the next month or so when cashflow frees up).
So I'm not really worried about the stash, I have a solid game plan for that. It's... everything else. Although we're FI, the SO plans to continue working, not because we need the money per se, but because he wants to hold onto a guaranteed source of health insurance in case they succeed in striking down the ACA this time around. But a prolonged economic downturn driven by the pandemic, plus any potential fall Covid waves, may threaten job stability in his field. So if I quit my job, he loses his, and then the ACA goes down, I worry that his pre-existing conditions might make him uninsurable. I don't really see a way to hedge against non-financial risks like that. The only contingency that cannot be brute-forced is healthcare, IMO.
Hello there, all my lovely fellow Mustache people!
I've been lurking in this thread, creepin' on you all, for the better part of this year, trying to decide if I want to officially throw my hat into the class of 2021 FIRE cohort ring. My original timeline targeted FIRE in 2024 (when I turn 40) or 2025 (when the mortgage is paid off), but the income, savings, and market return numbers have really snowballed in our favor over the past few years (or decade, really), and we've managed to hit our FI numbers way ahead of schedule.
My FIRE date was never explicitly pegged on hitting a specific NW number, or even disliking my job, so I would have been perfectly happy to keep chugging along (and continue running up the score) until 2024/5 rolled around. However, after a really rough year at work in 2019 during which I suffered repeated mental breakdowns... I realized that maybe I ought to seriously consider deploying the FU stash, and just get out, especially if the situation does not improve.
So a new plan was hatched, where we would tie up various loose ends this year (mostly involving big ticket home repair projects that we've been putting off), and then I can give notice and be donezo either late 2020, or early 2021. That plan lasted all of two months before Covid hit, portfolios plunged (mine was still allocated 90/10, so it got pretty ugly), and I desperately tried to talk my exhausted and stressed out self into sucking it up for the remaining duration of the pandemic, so that I could keep buying low through the next recession. I am so confused by the market recovery, and fear that it isn't real/won't last.
(Also, most of the house projects never got done, because bringing in potentially plague-ridden contractors didn't feel right. Plus, they were all already booked by everyone else trying to do the same exact thing we were doing.)
Anyway, the main reason I'm waffling on 2021 is because the future still feels so uncertain. I want to see if there's a fall wave, if the vaccines and therapies work, if the market crashes again (and stays crashed this time), or if President Fuckface Von Clownstick actually gets re-elected. And I still have no idea how these factors will influence my decision to move forward with FIRE in 2021. Am I the only one who feels that way, and is on the fence as a result?
At the end of the day, I just have to convince myself that it's win/win either way -- either I hold onto the security (and salary) of a genuinely impactful job (I'm actually doing Covid research these days, which is not helping the burnout, guilt, or ambivalence that I'm feeling about walking out), or I get to enjoy some well-earned freedom with the rest of you fine folks.
In the meantime, checking these forums keeps me sane. This is quite a year, and quite a journey to be on, so thank you all.
@amberfocus Why not start with a sabbatical? "FIRE" temporarily, take a year off to recharge and re-calibrate. If in 12 months you look around and FIRE isn't long-term manageable, go back into the work force and build up your nest egg so more. I have to imagine, any number high enough for you to consider FIRE this year must also be high enough to give you a 1-year reprieve from the craziness of work.
I second this recommendation. I originally retired in 2018 but went back to work a year later. I was okay financially but I was not mentally prepared. I have worked 13 months at a new job which pays more and is more fun than my last job. My stache is up quite a bit and I am in a much better place mentally. I plan to retire sometime in the next 8 months but I have not decided exactly when.
I come from the 2022 thread to chime in on sabbaticals. It is currently theoretical for us, but we have considered either taking a leave of absence then returning or leaving work for awhile then seeking new employment closer to family. The possibilities are endless once you learn to think outside the box!
I really love the sabbatical idea -- to the point where I looked up my workplace's leave of absence policy. Unfortunately, the longest leave I qualify for is 3 months, and that's pending approval by management. Given that it's all hands on deck right now, I doubt approval would be forthcoming (at least not for any justification that I could give). I also work as part of a very close-knit team, and my particular job function lacks redundancy, so subbing me out would be nontrivial. I might have more leverage if I tip my hand regarding early retirement, but I don't know if I want to do that that just yet. Maybe I can suggest it as a compromise option if I decide that I'm ready for FIRE next year, but want to see if my employer is willing to leaving that door open, just in case.
How close to the vest has everyone kept their early retirement plans? I have some really close friends at work that I'd love to talk to, but I'm too afraid to disclose this.
Post by: alcon835 on August 27, 2020, 07:51:36 PM
It's more of a mindset "I'm not leaving the workforce forever, I'm doing a 12-month trial and seeing if I want to go back or not."
Post by: ixtap on August 27, 2020, 07:57:10 PM
How close to the vest has everyone kept their early retirement plans? I have some really close friends at work that I'd love to talk to, but I'm too afraid to disclose this.
Pretty much everyone at Megacorp knows our plans, but the timing is a bit vague. To be fair, it changes from day to in our own heads, as well. Recently DH's manager was putting out some feelers and he was asked if he could commit to two more years. Well, it was almost exactly two years (visiting from the 2022 thread) from our most recent timeline, so he said yes. Actually, he said yes, but I will probably need to take an extended leave at that time...
Post by: amberfocus on August 29, 2020, 08:38:43 AM
@amberfocus while I used the word sabbatical, I actually meant quitting your job with the intent of looking for a new job in 12 months if you don't like the new life.
It's more of a mindset "I'm not leaving the workforce forever, I'm doing a 12-month trial and seeing if I want to go back or not."
Ah, thank you for clarifying! Thinking it through, that actually does change the calculus a bit. If I weren't into FIRE, I'd actually consider my current job to be a 'keeper' -- well-compensated, lovely coworkers, high impact, and near-endless opportunities for engagement and growth (if you have the aptitude and motivation). I've also built quite a lot of professional, social, and political capital there over the past decade. Leaving/taking a break feels a lot more risky if the downside is wiping all of that out and having to start over at a brand-new workplace.
I would absolutely take a trial run if I can hold my current position in reserve if I change my mind. But given that a leave of absence may not be an option, I would have to be fairly sure that I'm ready/want to leave before I go through with it.
Post by: mindfulrun on August 29, 2020, 09:09:35 AM
I'm new here. Once I discovered FIRE and this blog, I quickly adjusted my spending (I was buying really stupid stuff in hindsight) and realized I could retire much sooner than I thought. My goal is now April 2021 (at the age of 43).
Most of my assets are tied-up in tax advantaged accounts, so I'm trying to find the most optimized plan to live for the next for the next 17 years until I reach 59 1/2. Fortunately, my wife wants to continue to work so that helps a lot with not only healthcare but how to bridge the huge gap in my taxable account. I'm currently leaning towards the Roth conversion ladder. During the first five years, I'll exhaust our taxable account and may have to dip in to my Traditional IRA (after I retire I'll rollover my 401K, which is the bulk of my portfolio) and take the 10% penalty as needed. I like the flexibility with Roth conversions as compared to SEPP (I mean, it's entirely possible I'll generate some taxable income in the next several years and I may not need the continued SEPP payments).
I look forward to learning and going on this journey with all of you!
Post by: moneypitfeeder on August 29, 2020, 05:30:50 PM
Post by: ScreamingHeadGuy on August 31, 2020, 07:16:30 PM
December 2018 - 79.7% (22.3 x expenses)
December 2019 - 107.3% (30.0 x expenses)
January 2020 - 109.3% (30.6 x expenses)
February 2020 - 103.7% (29.0 x expenses)
March 2020 - 94.9% (26.6 x expenses)
April 2020 - 100.4% (28.1 x expenses)
May 2020 - 105.3% (29.5 x expenses)
June 2020 - 106.9% (29.9 x expenses)
July 2020 - 111.2% (31.1 x expenses)
August 2020 - 114.9% (32.2 x expenses)
Everything from my July update is still applicable. Never in my wildest dreams had I expected to see this bounce-back from March lows so soon and then to blow past the February high just six months later.
I've come up with a strategy of which funds to sell first, how much IRA to convert to Roth, etc. for 2021, assuming current tax law and ACA continues; we'll see if this plan holds into January. Maybe it could be optimized, but I'm pretty comfortable with it.
Life:
If only complaining about weight was an actual strategy we'd all be svelte. But I did lose another 3 lbs last month, so I guess complaining - combined with the usual suspects of exercize and controling what I eat - get results. Now I've beaten my "stretch" goal so I'm just going to see how much more I can lose by the end of October. Certainly, long term, my goal is to maintain a <169 pound weight.
School (virtual until conditions change) starts for my daughter tomorrow. I'm disappointed (as is my wife and daugher) there won't be in-person learning for a while - but the school district doesn't want to risk exposing anyone to certain viruses at this moment (and apparently is having a hard time attracting substitute teachers so they'd likely have to cancel certain classes if teachers were out). That means my girl will get about 2 hours of actual contact with a teacher each day (30 minutes of which will be art, music, or PE). At least the child is getting into independent reading so she can do that by herself.
I had a four-day weekend this past month, and it was amazing. I replaced the blinds, fixed the fence gate, and took a nap every day. I paid for it with a HUGE backlog of emails when I returned.
My company did a second round of layoffs this past month, some of which hit workers in my department. Our workforce is now about 15% smaller than it was in March.
I'm working on the final adventure(s) of the four-year-long D&D campaign I DM. I don't know if I can ever do an appropriate "pay-off" to the plot, but I'm certainly going to let loose with every trick, plot swerve, and NPC guest appearance I haven't used up so far and hope the players dig it.
Post by: shuffler on August 31, 2020, 10:43:44 PM
I've come up with a strategy of which funds to sell first, how much IRA to convert to Roth, etc. for 2021, assuming current tax law and ACA continues; we'll see if this plan holds into January. Maybe it could be optimized, but I'm pretty comfortable with it.I'm just starting to approach this problem myself; perhaps '21 will be my year. I've looked at i-ORP, and am considering writing something myself to help with it.
What strategy did you come up with?
How'd you decide it was the right one for you?
... some of this may be hard to discuss without knowing the volume of funds that need converting. I understand if you prefer not to describe things precisely.
Post by: ScreamingHeadGuy on September 01, 2020, 07:29:11 PM
So far we have 58 folks here who will be FIRE in 2021 and 5 will OLY into 2020.
Average age of 2021ers is 46.32 (based on those who provided an age at FIRE date). 2020 average age is 48.32 (so far). 2019 average age was 47.38.
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Post by: alcon835 on September 02, 2020, 07:16:19 AM
Post by: the_fixer on September 02, 2020, 07:34:11 AM
OMY = One more year
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Post by: highlandterrier on September 02, 2020, 07:40:44 AM
Post by: JoJo on September 02, 2020, 08:58:07 AM
Post by: moneypitfeeder on September 03, 2020, 05:26:40 PM
Post by: LightTripper on September 04, 2020, 02:29:04 AM
Post by: ScreamingHeadGuy on September 06, 2020, 07:56:45 PM
I've come up with a strategy of which funds to sell first, how much IRA to convert to Roth, etc. for 2021, assuming current tax law and ACA continues; we'll see if this plan holds into January. Maybe it could be optimized, but I'm pretty comfortable with it.I'm just starting to approach this problem myself; perhaps '21 will be my year. I've looked at i-ORP, and am considering writing something myself to help with it.
What strategy did you come up with?
How'd you decide it was the right one for you?
... some of this may be hard to discuss without knowing the volume of funds that need converting. I understand if you prefer not to describe things precisely.
My strategy is based on a dual mandate: minimize federal (and state) income tax burden AND maximize ACA subsidies. Again - this withdrawal plan is based on current tax code (or at least my understanding of it). Here's some background.
I own a stock (Stock A) which I've had for many years which has had significant appreciation and is currently 8% of my portfolio - I want to reduce my exposure to this stock. This stock also pays some dividend, which I am no longer reinvesting, but will use as cash flow.
My wife has a part-time job and I serve on a local board. This provides us with income and we both anticipate continuing in these positions for at least a year.
We earn dividends in our taxable account, but will reinvest these. Still they're tracked because they are included in MAGI for ACA premium purposes.
We have some cash. I want to draw-down our cash reserves (and not by investing them - I know I'm being sub-optimal here but I prefer peace-of-mind in holding cash for now).
So our projected 2021 plan is as follows:
Stock A Stock A Stock A VTSAX Work IRA Cash Spendable Fed ACA
Sales LTCG Dividends Dividends Income to Roth Withdrawal Cash Flow Taxable MAGI
11250 7650 1680 4503 17000 12000 9700 $39,630.00 $29,000.00 $42,833.00
Since we're MFJ with 1 child under 17 that means our standard deduction is $24,800 and thus our federal income tax is $-1,580. However - if we contribute $2000 each to our Roth IRAs (say we take more out of cash for this, or spend less and throw money from the "spendable cash flow" column into the Roths, or the money falls from the sky - whatever) then we get another $400 of refund for a tax bill of $-1,980. BUT $580 of this is non-refundable so we need to increase our tax liability to somehow use this money.
I've found the "best" way to do that is to under-project the annual income during ACA sign-up and, thus, have to pay back premium support. If we were to under-project our income by $4k then we'd owe $608 for premium support we shouldn't have received (this also has an impact on CSR - reducing our deductibles and out-of-pocket maximum). This $608 repayment should be a tax and, thus, the $580 of non-refundable credits is eaten up (plus an additional $28 of refundable tax credits) for a total federal income tax burden of $-1,372. If anyone knows more about ACA and wants to correct my statements here please feel free to educate me.
Post by: shuffler on September 07, 2020, 11:18:39 AM
So our projected 2021 plan is ...Thanks for sharing your plan, and even in the specific amounts that you did.
My strategy is based on a dual mandate: minimize federal (and state) income tax burden AND maximize ACA subsidies.Yes, I think it's pretty common for people to have these goals. They're essentially the same as mine.
It's cool that you've got your spending low enough to have some income, do some Roth conversion, and still qualify for some ACA subsidies.
However ...
BUT $580 of this is non-refundable so we need to increase our tax liability to somehow use this money.Look ... uh ... I don't want to be too harsh here, but this seems a bit beyond the pale to me.
I've found the "best" way to do that is to under-project the annual income during ACA sign-up and, thus, have to pay back premium support. If we were to under-project our income by $4k then we'd owe $608 for premium support we shouldn't have received (this also has an impact on CSR - reducing our deductibles and out-of-pocket maximum).
You're saying that you plan to lie on your ACA forms in order to obtain benefits to which you're not entitled. And to "lock in" the final $500 of your tax refund.
I'd like to suggest to you that your integrity is worth more than $500.
Or at least point out to you that misrepresenting your ACA eligibility info can garner fines from $25k (if merely negligent) to $250k (if willful).
And if neither of those persuade you, then I'll just say that I'm not convinced the mechanics of this scheme will work. Exchanges verify income estimates (or at least they sample them and verify some of them), and use a "reasonable standard" that the estimate should be within 10% of known trusted income data (like your taxes or SS earnings). Since you'll have a ACA MAGI of $42k, your lie of $4k is just within 10%, but only if you have a year that goes as-expected for your LTCG and dividends. In a down year, your lie is likely to be greater than 10%. And by then you'll have a paper trail of regular yearly under estimates of your income, paying back a portion of the subsidies, and receiving CSRs to which you're not entitled. Seems to me like that'd look like willful misrepresentation.
Post by: ScreamingHeadGuy on September 07, 2020, 05:34:32 PM
And if neither of those persuade you, then I'll just say that I'm not convinced the mechanics of this scheme will work. Exchanges verify income estimates (or at least they sample them and verify some of them), and use a "reasonable standard" that the estimate should be within 10% of known trusted income data (like your taxes or SS earnings). Since you'll have a ACA MAGI of $42k, your lie of $4k is just within 10%, but only if you have a year that goes as-expected for your LTCG and dividends. In a down year, your lie is likely to be greater than 10%. And by then you'll have a paper trail of regular yearly under estimates of your income, paying back a portion of the subsidies, and receiving CSRs to which you're not entitled. Seems to me like that'd look like willful misrepresentation.
Curses - I knew the math was too good to be true. :-(
Okay - here's a second kick at the can. It pretty much means I cannot achieve the $400 Savers' Credit because I'd need to raise my taxable income higher than desired. Again - I'm looking for feedback here so please feel free to help me out community. (You know - pesky details like "the math you're proposing might be illegal". /facepalm)
Stock A Stock A Stock A VTSAX Work IRA Cash Spendable Fed ACA
Sales LTCG Dividends Dividends Income to Roth Withdrawal Cash Flow Taxable MAGI
9000 6120 1728 4503 17000 14000 11900 $39,628.00 $31,000.00 $43,351.00
This should put my federal tax burden at $1,380 (all of which should be refundable).
Post by: shuffler on September 07, 2020, 10:43:44 PM
(You know - pesky details like "the math you're proposing might be illegal". /facepalm)Heh. Good sense of humor about it. :^)
I'm looking for feedback here ...Looks great to me!
Stock A Stock A Stock A VTSAX Work IRA Cash Spendable Fed ACA
Sales LTCG Dividends Dividends Income to Roth Withdrawal Cash Flow Taxable MAGI
9000 6120 1728 4503 17000 14000 11900 $39,628.00 $31,000.00 $43,351.00
This should put my federal tax burden at $1,380 (all of which should be refundable).
You're funding your spending needs and paying zero taxes. Seems quite good.
Is this sustainable for you? Like, will your "Stock A" and Cash components support this level of withdrawal for a long time?
And can you fund all your spending (incl. healthcare) on $40k?
And would this plan leave you with a large tax burden later in life? Like maybe there's a 401k or other pre-tax income that you're not touching in the above plan, that would be subject to RMDs as cause income-tax burden later?
Does the plan change if/when you reach FRA and start receiving social security?
Post by: mld on September 10, 2020, 11:16:45 AM
I've been lurking here for similar reasons... 2025 is our planned date, however 2021 would be my absolute dream while 2023 is my mental age goal since I would be turning 35 that year lol.
The plan is currently to start taking 3 month sabbaticals starting June 2021 to spend summers with the kiddoes when they are on school break. I'm having trouble seeing myself go back to work after an entire summer off though lol just returning from a couple of weeks vacation now is brutal! My mind is desperate to find ways to escape now so I imagine it will be even harder with more FU money.
Anyways I guess it's a good problem to have, so I decided to at least post to follow this thread and all of your progress to keep my dream of 2021 alive. It's a good way to motivate me to massively cut our spending and get creative to try and shed 4ish years off our plan.
UPDATE: Well good news, I have some catching up to do on reading up on this thread because my dream goal of 2021 is getting more and more concrete : D !
It won't be exactly 100% FIRE since this new plan accounts for some income coming through my side-hustle yet at a very low level of 10ish hours per month to let my FI# Coast to it's full FIRE value. Hoping that this is fine with y'all and that I can be added to the roster :).
Age at FIRE : 33
FIRE target: June 2021
Post by: LightTripper on September 11, 2020, 03:49:42 AM
What are your post-FIRE plans (other than the side hustle)?
Post by: FarFetchd on September 13, 2020, 08:45:54 PM
It's actually put me in a "one more year" mood: for one thing, it would be unethical to go in fully expecting to work <1 year; I'm going to really try to enjoy it enough to raise the possibility of choosing to keep with it even once the money means very little. Of course, we still plan to move to a non-ridiculous-cost-of-living area in late 2021, so if the company hasn't remained happy about remote work until then, they might make the decision for me.
I'm kind of morbidly curious about how my attitude to the new job evolves. I feel like it will be a single data point in an accidental experiment on whether FIRE makes people hate work, since I've lately been wondering to what extent the FIRE obsession might have made my view of my job worse. If FIRE really was the main factor there, then at the new place I might start getting dissatisfied and have my productivity freeze up right away. However, as I close out the old job, I've found myself having some approximation of the productivity I used to have. So, cautiously optimistic that it was maybe only a little bit due to the FIRE obsession.
Anyways: still on track for ~Sep2021, unless I decide I like the new job so much that I want to stick around even once FI.
Post by: Arbitrage on September 14, 2020, 08:10:59 AM
Post by: Well Respected Man on September 21, 2020, 08:00:58 AM
My wife realizes that I have massively sacrificed my life for her (stopped working for about 8 years, then went to school for a new career for another 3-4 years) and the family, so she is going to work for some more years to provide health insurance for us and earn her pension. Originally, she was thinking till age 65, but as we have gotten closer, she is wavering. We'll see how long she lasts. She has 1.5 years to go for 10 years. She has summers and school vacations off, though, so that may be enough for her, what with a stay-at-home spouse cooking and cleaning for her.
I'm really getting down into details of the drawdown plan now, and trying to mitigate sequence of return risk. The first n years, starting in 2022, will involve continuing to plow 26k into my wife's 403b, and 7k each into deductible IRAs. That will bring our taxable income to below 0, so I'll convert some pre-tax IRA money to Roth each year. I'm going to check today to see whether my company accepts rollover contributions into the 401k, so that I can then do a full conversion of our non-deductible IRAs into Roth without worrying about a tax hit from the aggregation requirement for conversions. I have to figure out how much to convert each year, and whether it can all be done in time to avoid RMDs and in a low-tax manner.
I've been seriously hunkered down in all of my accounts since April or so. My wife's accounts have participated in the stock runup, however, so all is not lost. I'll be going through the fine-grained details for asset allocation year-by year, as well as the expense plan.
A big part of the plan is selling our house, and downsizing into ... 2 houses :eyeroll:. We are currently living in a wealthy suburb, and will be moving to a city apartment when we are ready to sell. The apartment could be a rental or a purchase. Then we will purchase a country house with some land, which will be for gardening, skiing, chopping wood, and looking at trees. We may also add a tiny home or trailer for AirBnb purposes, or just rent out the house at times. Rents in the city are going down currently, as are prices, so I'm thinking that it's a good time to make that move.
The current house requires some work to make it marketable. It has been one thing after another, with current projects being: replace all of the very large windows on one side of the house, replace siding on that same side, stain the whole house, fix the giant hole in the floor near the fireplace, fix the corresponding giant hole in the basement ceiling, asbestos abatement/containment, basement bathroom remodel (demo already done, heh), and plenty of minor projects as well. We'll be able to some of the work, but mostly it's going to be contracted out. What we are able to do is landscaping. Since the spring, we've planted grass and perennials, built steps and a fire pit area, cleaned up a ton of branches and trees, and installed landscape lighting. My wife has really enjoyed participating for the first time in many years, so that part is very satisfying, and bodes well for the future country house.
I know none of this sounds super frugal, so I'm prepared for face punches. But I'm gleefully counting down the days till next September, and will roll with the punches.
Post by: Peter Parker on September 24, 2020, 01:37:02 PM
It was difficult for me to work up the courage to giving notice...but so glad I did. I was a little afraid how it was going to be taken, but everyone seemed genuinely happy for me and there does not seem to be any appetitite to take away my "interim" status. I'm feeling pretty good about it--It will help with a smooth transition, my teammates will know my plan, and I can now focus on getting everything in line to make an exit...
It just got real.
Post by: the_fixer on September 24, 2020, 02:19:15 PM
I gave notice that I will be "officially" be retiring July 2021. But my last day of work is yet to be determined--I have a shit-ton of vacation and may still be on track for my 04/30/2021 exit date. I'll update my "last day" as I work through this...How exciting!!!! Happy for you and glad it worked out!
It was difficult for me to work up the courage to giving notice...but so glad I did. I was a little afraid how it was going to be taken, but everyone seemed genuinely happy for me and there does not seem to be any appetitite to take away my "interim" status. I'm feeling pretty good about it--It will help with a smooth transition, my teammates will know my plan, and I can now focus on getting everything in line to make an exit...
It just got real.
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Post by: rightstuff on September 24, 2020, 03:38:50 PM
I will skew the average age, will be 55 in May 2021. Posting to follow and self accountability!
Post by: Ladychips on September 24, 2020, 03:40:55 PM
Have you and DW picked a date?
Post by: Arbitrage on September 25, 2020, 09:40:56 AM
I gave notice that I will be "officially" be retiring July 2021. But my last day of work is yet to be determined--I have a shit-ton of vacation and may still be on track for my 04/30/2021 exit date. I'll update my "last day" as I work through this...
It was difficult for me to work up the courage to giving notice...but so glad I did. I was a little afraid how it was going to be taken, but everyone seemed genuinely happy for me and there does not seem to be any appetitite to take away my "interim" status. I'm feeling pretty good about it--It will help with a smooth transition, my teammates will know my plan, and I can now focus on getting everything in line to make an exit...
It just got real.
Congrats! Curious what industry/profession you're in that you'd give 7 months' notice, if you're comfortable revealing those details. Also, how early your early retirement is.
Post by: mld on September 25, 2020, 12:24:54 PM
Wow - 33!!! That's amazing: congratulations!
What are your post-FIRE plans (other than the side hustle)?
Thank you!!! Other than the side-hustle which would take some of my time, we have young kids so definitely time with the little ones, taking care of my health, digging into passions, enjoying nature, helping some family members, etc.! I'm a big traveler but obviously those plans will be on hole for a couple of years, or different in terms of types of travel.
Covid-life has been a little much and sometimes I wonder if I should one-less-month my June plan (which is technically taking a one year unpaid leave to try out the semi-FIRE thingy and have the security of still knowing I can come back to my job if needed in 2022), but considering spouse is not exactly on board for even that yet, more discussions and reflections need to be made! I do have cash-flow projections which have me feeling pretty comfortable at an earliest date of a mid-January 2021 departure.
Time and reflections will tell!!! Exciting to see some people already giving notice and making some changes in their position for some hopefully more enjoyable time prior to departure!
Post by: moneypitfeeder on September 30, 2020, 05:39:58 PM
It won't be exactly 100% FIRE since this new plan accounts for some income coming through my side-hustle yet at a very low level of 10ish hours per month to let my FI# Coast to it's full FIRE value. Hoping that this is fine with y'all and that I can be added to the roster :).
I certainly don't see why not, they let me aboard, lol. I'm "retiring" in 2021 because SO and I have reduced our income needs to the point that his pension more than covers our needs. All my investments are just being held in a "if we ever need to tap them" status. That's been fun to try to explain to my current employer, (I just don't need to work) because I divulged my exit plan about 1 yr in advance, since my boss cornered me with the "where do you see yourself in 5 yrs" question. I just couldn't play the game and lie. So realistically, I'm just resigning, and SO is the retiree, I realize my situation is different than many here, but it is the retirement plan that is working for the 2 of us.
Post by: ScreamingHeadGuy on September 30, 2020, 08:00:36 PM
December 2018 - 79.7% (22.3 x expenses)
December 2019 - 107.3% (30.0 x expenses)
January 2020 - 109.3% (30.6 x expenses)
February 2020 - 103.7% (29.0 x expenses)
March 2020 - 94.9% (26.6 x expenses)
April 2020 - 100.4% (28.1 x expenses)
May 2020 - 105.3% (29.5 x expenses)
June 2020 - 106.9% (29.9 x expenses)
July 2020 - 111.2% (31.1 x expenses)
August 2020 - 114.9% (32.2 x expenses)
September 2020 - 112.77% (31.5 x expenses)
I thought it would have been down more for this month, so I'm pleasantly surprised. To boot - I'm still ahead of where I was two months ago!
The accounts have been rebalanced and I'm still in the process of moving some funds from domestic equities to international equities - to be continued.
I've maxed-out my 401(k) contributions for the year so whatever growth happens now to the end of the year will be from my meager HSA contributions and/or market returns.
Life:
I maintained weight within 1# of where I ended August (just the "normal" day-to-day variation). That's pretty good, I guess.
School has been both rough and rewarding. My daughter loves it (even though she would rather be able to go to school) and finishes most of her work by lunchtime (she's usually halfway through the work before her first class of the day if it's posted early). But being in charge of school IT, keeping her on-task, making sure she logs-on at the right time, etc. is quite draining when combined with my paid work.
I'd applied for, and was granted approval for, using "emergency paid sick leave" through the FFCRA (Families First Coronavirus Response Act) because our daughter's schools aren't open for in-person learning (nor will they be anytime soon given how Covid-19 cases are surging in my area). I have only been using intermittent time off (2-4 hours per day) these past two weeks, but it sure is helpful to have the fall-back to use that time if/when I need it rather than try to cram an 8-hour work day plus all the school-wrangling into a 9 hour period.
I'll just post a link about the FFCRA paid leave here, in case anyone else might find it helpful: https://www.dol.gov/agencies/whd/pandemic/ffcra-employer-paid-leave
I took another four-day weekend this past month and was thoroughly spoiled by avoiding paid work.
Weather has gone from feeling like late-summer to late-fall. I like to feel the nip of cold on my nose and ears when I take my morning walks. The leaf colors are very nice.
My family did a two-week lockdown because my wife was exposed to a Covid-positive coworker. That was a bummer, but we are all healthy and I'd rather stay at home (even though it didn't turn out to be necessary) to do my part.
Just over 18 weeks to go until my planned departure date - that's only about 72 working days when I take-out holidays, PTO, sick days, etc. Eek!
Post by: ScreamingHeadGuy on September 30, 2020, 08:12:49 PM
Post by: the_fixer on October 01, 2020, 10:17:56 AM
Personally our returns have been great so far (knock wood).
I managed to take advantage of the big drop earlier this year to roll a pension over to Roth, it was ~20k when I received it in 2019 and I managed to roll it over at the bottom so has already recovered + some and I was able to lock in the tax hit at the low point saving me from paying taxes on about 5,500.
Our savings has been slightly less than planned this year (probably 3 - 4k less by EOY) due to not shopping sales for food, utilities going up from working at home, using delivery services and honestly we have splurged on a few things here and there to make life more pleasant during Covid.
I had planned to use my insurance to deal with some final issues such as making sure my teeth were in great shape prior to FIRE but several of my appointments were canceled due to the shutdown so that is getting pushed to 2021. For example I had a tooth pulled late 2019, stud metal stud put in for a dental implant and was scheduled to get the tooth affixed the day they shut everything down so I have a fancy metal stud in my mouth and a tooth sitting at the dentist office...
I am still taking a wait and see approach to see what happens with Covid and the ACA as we had planned to travel a large portion of the time and if the ACA is struck down we will need to figure out how it impacts us everything from where we withdraw to possibly still working.
So how is you planning going and how are things looking for you?
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Post by: phildonnia on October 02, 2020, 11:28:52 AM
In some other news, DW has decided that since lately she doesn't have to work in an office with people she hates, she will do OMY. But she insists that she will have no resentment about me being a 'kept man' for a short while. Not sure how I feel about that though.
Post by: Ladychips on October 02, 2020, 12:16:50 PM
Post by: Lucky13 on October 02, 2020, 01:57:19 PM
Post by: LightTripper on October 05, 2020, 07:09:01 AM
I am negotiating to be a contractor from 1st January, so I can ramp down my work in a more orderly fashion rather than walking away in the middle of anything. I hope to be fully done (possibly barring a couple of longer term recurring things) by Easter next year.
Anyway, that means as of today I have 50 more working days as an employee... not that many!
Post by: tipster350 on October 05, 2020, 11:28:25 AM
I'm down for 2021, might OMM (one more month) it a time or two depending on how things go, but plan to stay in this cohort for sure.
Post by: ospreyjp on October 05, 2020, 07:16:42 PM
By hanging in until then, I will receive a pension and, more importantly, be eligible to continue my health insurance with 2/3 of the monthly cost of premiums continuing to be paid for me.
Since it is secure work, I am tempted to let my manager know that I am planning to retire. In the private sector this might not be sensible, but government work is a bit different in that regard. My motivation for doing so is to avoid getting saddled with enduring projects that I wouldn't be able to see through. Honestly, I also feel like it would help management and co-workers understand the apathy I know must be showing at times.
Any thoughts on this? Has anyone else shared their retirement plans to their employer well in advance? Did it work out okay?
Post by: HumanAfterAll on October 05, 2020, 08:52:49 PM
I’m waffling, and entertaining three options.
Work has become much less satisfying this year, with a demanding, ignorant and unpleasant project manager significantly reducing my quality of life. When I interact with others, I love this project, but every meeting with this person makes me want to leave, and unfortunately that happens several times a week. I spoke with the higher ups and there is no chance of a transfer before next year.
So I started responding when recruiters call, and now I’ve got an interview with a company that could be more fun and pay significantly more.
I don’t have an offer yet, but every day I’m torn between the options of staying until 6/2021 (with a raise based on another offer?), going to a new company and OMY+, or just calling it and take a mental health break ASAP.
We’re at 80% FI, but my wife is planning to work for another 2-10 years, so we would be fine. My daughter is turning 5, and by the time she’s 10 I don’t think she will want to spend as much time with me. Our parents aren’t getting any younger either.
What would you do?
I must say, it’s nice to have enough stashed away that the leverage is on my side :)
Post by: zinnie on October 06, 2020, 06:48:27 AM
Good luck, all! 2021 is getting so close!!!
Post by: ospreyjp on October 06, 2020, 06:50:00 AM
You can take me off the list. I decided close enough is good enough. Giving two-week notice on ThursdayCongratulations! I envy that freedom and am looking forward to my own next year..
Good luck, all! 2021 is getting so close!!!
Post by: zinnie on October 06, 2020, 07:02:02 AM
Above you asked about giving longer notice. Personally I’d not recommend it but that is coming from the corporate world. Another thing to consider beyond them pushing you out early is that people stop including you in things, as they are planning for your departure. It can make it less enjoyable to be there if everyone suddenly sees you as expendable. I did a month with a boss who was my friend and even that was long. But you know your area best and what makes sense. What have others in your shoes done? I’d start there.
Post by: ScreamingHeadGuy on October 07, 2020, 07:28:59 AM
You can take me off the list. I decided close enough is good enough. Giving two-week notice on Thursday 😁.Here’s a congratulatory clap for your OLY awesomeness. 👏
Good luck, all! 2021 is getting so close!!!
Post by: Ladychips on October 07, 2020, 09:00:21 AM
Glad to find the 2021 retirement thread!
Since it is secure work, I am tempted to let my manager know that I am planning to retire. In the private sector this might not be sensible, but government work is a bit different in that regard. My motivation for doing so is to avoid getting saddled with enduring projects that I wouldn't be able to see through. Honestly, I also feel like it would help management and co-workers understand the apathy I know must be showing at times.
Any thoughts on this? Has anyone else shared their retirement plans to their employer well in advance? Did it work out okay?
Welcome to our club!
I work in an environment where best-practice is to tell my boss in October so they can find a replacement for a July 1 (my retirement date) start. My original intent was to tell them in May because I don't owe them anything and I didn't want to hear from people for 9 months about leaving. Blech. However, I have a new boss and unexpectedly like him quite a bit. I'm doing him a disservice by NOT telling him. If I tell him, he has a chance to bring in someone he wants (rather than filling my position with an interim internal candidate). Also, I'm working from home so won't run into people all day long wanting to talk about it. Zinnie mentioned that everyone will see me as expendable and start leaving me out of things. I'd actually looking forward to that part! I have a meeting with him tomorrow...thinking about telling him. We'll see how it goes.
Post by: rightstuff on October 07, 2020, 03:36:26 PM
Welcome @wrightstuff! I will also be 55 in May...I think it's the perfect age to FIRE!
Have you and DW picked a date?
We haven't chosen a specified date yet, the calculations are getting tense and highly technical which I think is a good sign!
Post by: texxan1 on October 08, 2020, 10:23:47 PM
Post by: Chaplin on October 08, 2020, 10:52:46 PM
I'm seeing myself in a lot of the comments from the past few months. I'm working through the question of how much notice to give, and to go about it. Rightly or wrongly I don't have any concerns about being shown the door immediately if I try to give three months of notice. I know that my boss will appreciate more rather than less notice, and he's tacitly acknowledged that the job I'm doing now is a lot different (and less appealing) than the one I was originally hired to do.
I've had March of 2021 as my target date for years. It's amazing to me how the date has held up to analysis through various stock market changes, changing jobs twice, moving, etc. Admittedly the date has shifted between being the date I plan to be done versus the date I plan to give notice. One reason I think the date has held is that once I came up with it, it became a goal so I've made adjustments to help it come true.
Now, for a bunch of reasons, I'm trying to improve on it a bit. I'm thinking notice within a few weeks with a goal of being done with full-time work by the end of this year and part-time after that for a few months if needed to make the transition go as well as possible. My drop-dead date to be done all FT and PT is June 2021 so I can be free for the summer. My son is still young enough that we have a few years when we can do a lot of fun stuff together. Just about every vacation I've had in the last five years, or longer perhaps, has been affected by work issues. Even if the vacations had been fine, they weren't enough time to jump into big projects or backpacking trips, for example, without unpleasant time pressure.
The June drop-dead date is for "external" reasons. It probably needs to be sooner for "internal" reasons. I'm having a very hard time bringing the necessary enthusiasm and effort to my position. I'm just not engaged any more. That's not fair to the company or the people who work for me. I'm paid well and very conscious of feeling that I'm not earning that pay any more.
Despite all of that, it's proving tough to actually say something like "I plan to leave in 2021 - I'm flexible and want to make the transition smooth, let's figure it out." It's not about my comfort level - if I were let go tomorrow I would be fine financially and emotionally. Having to initiate the conversation just feels like one more thing I just don't want to deal with any more. And that's exactly the reason I have to do it...
There's another thread that talks about how getting close to FIRE makes it hard to grind out the remaining time. I think I'm experiencing some of that and if I knew that financially I had to work 15 more years my attitude might be different, but on the other hand, five or six years ago when I was nowhere near able to pull the plug financially, I felt pretty much the same in terms of energy and enthusiasm. Actually, it has improved since then - I used to have a lot of dark days when it was extremely difficult to get out of the car after driving to work. A lot of that has to do with career choices - I think I made some mistakes and could have steered myself into areas that I would enjoy more and be able to sustain, but I ended up in areas that I do ok at, get paid well for, but are very draining for me. They aren't bad positions, just not the right ones for me. Unless the only way to be good at them is to not want them...
Well, maybe by writing that out I've convinced myself to just bite the bullet and have the conversation tomorrow. I'll report back if I do.
Post by: Ladychips on October 09, 2020, 04:14:30 AM
I have a meeting with him tomorrow...thinking about telling him. We'll see how it goes.
Well, it didn't go. We had several things to cover and didn't have time to get into my retirement. I'm going to try again next week. Very anticlimactic!
Post by: Peter Parker on October 12, 2020, 04:43:10 PM
I have a meeting with him tomorrow...thinking about telling him. We'll see how it goes.
Well, it didn't go. We had several things to cover and didn't have time to get into my retirement. I'm going to try again next week. Very anticlimactic!
I was hesitant giving notice 7 months out, but so glad I did. First there wasn't any of the ramifications that I feared. But more importantly, it has taken a level of stress off my shoulders and has freed me up to say what I feel (as opposed to couching my language).
Post by: MoneyTree on October 14, 2020, 02:05:52 PM
I was on the list on post #403 on the thread, but don't see my name on the list anymore.
Can you add me back to this cohort? I was straddling the fence between 2020 and 2021, but due to some significant life changes, and also healthcare uncertainty, I'd prefer keep getting a paycheck and have employer subsidized healthcare for the forseeable future. Once things shake out in 2021, i think I'll have a clearer idea of our expenses.
Post by: asauer on October 16, 2020, 08:49:42 AM
Post by: Ladychips on October 16, 2020, 08:05:59 PM
Hi all, jumping over to this forum from 2022. My projections tell me I can FIRE about 6 months earlier than planned (now plan to FIRE in August 2021 at the age of 43). Additionally, I wanted to get my staff in a place that they would be protected from my toxic, incompetent boss. I've been able to do that already so, now I'm just waiting for the numbers to add up. Happy to be here!
Welcome! It's a great class to be in!
Post by: Sultan58 on October 17, 2020, 10:25:29 AM
The roster is updated for everybody through post #548
So far we have 42 folks here who will be FIRE in 2021 and 4 will OLY into 2020.
Average age of 2021ers is 46.65 (at FIRE date). 2020 average age is 48.32 (so far). 2019 average age was 47.38.
Name Age (at FIRE) FIRE Date Aldi Early 50s 1/23/2020 OLY CrazyIT 56 3/13/2020 OLY Mmm_Donuts 3/20/2020 OLY Marcher Lady 49 4/14/2020 OLY Matz_70 50 1/1/2021 moneypitfeeder 42 1/15/2021 12321 1/23/2021 ScreamingHeadGuy 41 2/5/2021 MoStash 53 2/21/2021 Buffaloski Boris 56 2/28/2021 dreams_and_discoveries 39 February TheContinentalOP 55 3/19/2021 Chaplin 47 3/23/2021 Tipster350 60 4/30/2021 bluebelle 4/30/2021 icebox92 36 4/30/2021 Peter Parker 4/30/2021 logjammin 39 4/30/2021 zinnie 38 April LightTripper 45 April mindfulrun 43 April ItalianGirl 5/1/2021 gary3411 30 April/May WildJager 35 May 80Westy 50 May Omglmg 39 May phildonnia 50 6/1/2021 Sisto 52 6/7/2021 YoungGranny 31 6/30/2021 HumanAfterAll 44 June lightmyfire June-Sept Ladychips 55 7/1/2021 Nazar 7/1/2021 CarolinaGirl 50 July highlandterrier July Arbitrage 43 8/1/2021 frugalecon 9/30/2021 GBRS 36 September the_fixer 49 10/1/2021 damo October Boyband 37 October 4tify 54 October Money Badger 53 12/1/2021 Accountant007 48 12/23/2021 Bownyboy 29 12/25/2021 Ulysses Everett McGill 55 12/31/2021 dblaace 60 12/31/2021 effigy98 42 December Wadiman December monarda 61 TBD American GenX TBD lemonlyman TBD dsw TBD
Post by: ScreamingHeadGuy on October 17, 2020, 07:38:13 PM
Welcome aboard @ospreyjp, @texxan1, @asauer, and @Sultan58. You've been placed on "The List".
Post by: the_fixer on October 18, 2020, 09:20:10 AM
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Post by: Ladychips on October 18, 2020, 10:04:09 AM
Today is the day that my countdown goes under 1 year.
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That's a lovely day! Congratulations!!
Post by: Trifle on October 19, 2020, 08:55:52 AM
You've got this! You've worked hard, and soon it'll be time to step through the door to the other side. I can confirm that FIRE is absolutely fantastic. You'll be there soon!
Post by: Well Respected Man on October 19, 2020, 04:04:18 PM
Post by: FarFetchd on October 19, 2020, 08:58:40 PM
Just stopping by from the 2019 Cohort to offer encouragement to all of you. 2021 is almost here! I remember those last few months well. It seemed to take forever, but I also got a serious case of nerve jitters as the day got close.
You've got this! You've worked hard, and soon it'll be time to step through the door to the other side. I can confirm that FIRE is absolutely fantastic. You'll be there soon!
Thanks Trifele, it's really nice to see encouragement like that! I'll see if I can remember to do something like that in a year or two :)
Today was my first day at a new job, which, I know, kind of bizarre in Oct2020 for someone supposedly in the 2021 cohort. I want to give it the best shot possible at really "clicking" with the work to the point that I choose to stay a couple of years, so that I won't feel like I'm taking advantage (not to mention the fact that it would be great to have a job even more fun than not working). So, I guess that kind of puts me in "one more year" mode. But, while I am going to try, my instincts have me skeptical that there's any work in my particular area that will be fulfilling enough. I feel like it's >50% that I'm still 2021.
Also, dang, Lending Club recently announced they're going to stop offering P2P loan investing at the end of the year. My nice ML model + automated purchaser setup was running smoothly without maintenance for months at a time, and performing well and steadily - not even really dented by the pandemic so far. I had been relying on it to make it rational to have a mortgage without being 100% invested in stocks, not to mention being a fun hobby project. Hopefully retooling to switch to Prosper won't be too too much of a hassle (and that they don't also shut down as soon as I switch, lol).
Post by: ScreamingHeadGuy on October 20, 2020, 01:56:06 PM
So far we have 61 folks here who will be FIRE in 2021 and 5 will OLY into 2020.
Average age of 2021ers is 46.32 (based on those who provided an age at FIRE date). 2020 average age is 48.32 (so far). 2019 average age was 47.38.
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Post by: Ladychips on October 21, 2020, 10:19:55 AM
I have a meeting with him tomorrow...thinking about telling him. We'll see how it goes.
Well, it didn't go. We had several things to cover and didn't have time to get into my retirement. I'm going to try again next week. Very anticlimactic!
So I told him (remember, my plan was to give notice in May...but my like of the new guy made me want to tell him now so that he has time to replace me with an external candidate instead of being forced to hire an internal candidate that he'd likely be stuck with). And he said "I wish you hadn't told me."
After laughing, I told him that I would be happy to pretend that I didn't. No one (except you all!) need ever know. I suspect we are going to talk about it each week for a while until he decides what he wants to have happen. This should be fun...I need to pop some popcorn!
The best part for me is that no matter what he decides, I'm out...in just a few months!
Post by: asauer on October 21, 2020, 10:57:45 AM
I have a meeting with him tomorrow...thinking about telling him. We'll see how it goes.
Well, it didn't go. We had several things to cover and didn't have time to get into my retirement. I'm going to try again next week. Very anticlimactic!
So I told him (remember, my plan was to give notice in May...but my like of the new guy made me want to tell him now so that he has time to replace me with an external candidate instead of being forced to hire an internal candidate that he'd likely be stuck with). And he said "I wish you hadn't told me."
After laughing, I told him that I would be happy to pretend that I didn't. No one (except you all!) need ever know. I suspect we are going to talk about it each week for a while until he decides what he wants to have happen. This should be fun...I need to pop some popcorn!
The best part for me is that no matter what he decides, I'm out...in just a few months!
Why would he not want to know? I'm a manager and I would hug my folks for giving me that kind of notice!
Post by: the_fixer on October 21, 2020, 11:02:43 AM
Companies can have policies that come into place once you give you notice that are beyond the managers ability.I have a meeting with him tomorrow...thinking about telling him. We'll see how it goes.
Well, it didn't go. We had several things to cover and didn't have time to get into my retirement. I'm going to try again next week. Very anticlimactic!
So I told him (remember, my plan was to give notice in May...but my like of the new guy made me want to tell him now so that he has time to replace me with an external candidate instead of being forced to hire an internal candidate that he'd likely be stuck with). And he said "I wish you hadn't told me."
After laughing, I told him that I would be happy to pretend that I didn't. No one (except you all!) need ever know. I suspect we are going to talk about it each week for a while until he decides what he wants to have happen. This should be fun...I need to pop some popcorn!
The best part for me is that no matter what he decides, I'm out...in just a few months!
Why would he not want to know? I'm a manager and I would hug my folks for giving me that kind of notice!
For example at my last company I gave my notice ahead of time due to my position and knowing I had a somewhat long vacation planned in the middle.
HR and my boss informed me that I would not be able to take vacation as company policy was once you gave your notice you were not allowed to use PTO or vacation time.
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Post by: Ladychips on October 21, 2020, 11:59:46 AM
Why would he not want to know? I'm a manager and I would hug my folks for giving me that kind of notice!
Well, it could be because he is not sure they will replace me so it's a little bit risky for him to know He is brand new and probably not feeling confident on the politics of things. If he doesn't find out until May, my position is already in the budget and he will be able to fill it. I also suspect it was such a shock to him that he just had a knee-jerk reaction. I think as he considers it more, he'll make a good decision about how he wants to handle it. I'm happy that I told him. In my mind, it was the respectful thing to do. And since I don't have any kind of interest in the outcome, it lets him make the decision that's best for him.
Post by: Ladychips on October 21, 2020, 12:00:23 PM
Post by: the_fixer on October 21, 2020, 01:24:24 PM
@the_fixer, I'd be beyond pissed if they wouldn't let me take vacation. What did you do?I told them my last day would then be the day I planned to take vacation so they got about a week of notice instead of 4 weeks.
It was a hostile environment once I gave notice to say the least including my manager threatening me and telling me I would be sorry, having HR tell me I would be sued if I did not tell them what company I was going to (I let them know it was not a competitor) but would not tell them the name of the company based on the threats. My old manager drunk dialed me several times per month for about 6 months threatening me and telling me I did not turn in all of my equipment.
Funny thing is when I first told him he begged me to stay, offered me more money and promotions as soon as I said it was not about that and I just needed a change it went sideways.
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Post by: tipster350 on October 22, 2020, 12:17:36 PM
I'm sitting on the edge of my seat waiting to see what happens with the Supreme Court nominee and the election, which will inform my plans for 2021. If the ACA is dismantled, so are my FIRE plans. I will then have to wait, assuming I am able to keep my job with employer-provided health insurance, until I am 63.5, and can get COBRA coverage until eligible for Medicare.
I'm really tired, and am hoping this all works out because I don't know how I will make it until 63.5.
Post by: FarFetchd on October 23, 2020, 05:52:11 PM
I'm sitting on the edge of my seat waiting to see what happens with the Supreme Court nominee and the election, which will inform my plans for 2021. If the ACA is dismantled, so are my FIRE plans. I will then have to wait, assuming I am able to keep my job with employer-provided health insurance, until I am 63.5, and can get COBRA coverage until eligible for Medicare.
I'm really tired, and am hoping this all works out because I don't know how I will make it until 63.5.
I don't know your situation, and don't mean to be telling you how to handle it based on no information, but my first instinct hearing that is that it sounds too pessimistic. Even if the ACA is gone, how bad could the monthly premiums get? If you would only have to pay ~3 years worth of them, couldn't you stay at the job just a few months longer (although I realize even that can be painful when you're so close) to save enough extra to cover them?
Another angle might be SWR logic. This is much easier to plan for than most aspects of FIRE: it's so short as to be almost instantaneous, and right at the start of retirement. What would happen to your calculations if you imagined selling enough stock now while the market is high to cover these expenses, maybe plus income from a month or two more work than planned? Being on the cusp of receiving Social Security, your absolute worst case should be safer than is possible in typical FIRE math.
Post by: tipster350 on October 24, 2020, 07:20:07 AM
I'm sitting on the edge of my seat waiting to see what happens with the Supreme Court nominee and the election, which will inform my plans for 2021. If the ACA is dismantled, so are my FIRE plans. I will then have to wait, assuming I am able to keep my job with employer-provided health insurance, until I am 63.5, and can get COBRA coverage until eligible for Medicare.
I'm really tired, and am hoping this all works out because I don't know how I will make it until 63.5.
I don't know your situation, and don't mean to be telling you how to handle it based on no information, but my first instinct hearing that is that it sounds too pessimistic. Even if the ACA is gone, how bad could the monthly premiums get? If you would only have to pay ~3 years worth of them, couldn't you stay at the job just a few months longer (although I realize even that can be painful when you're so close) to save enough extra to cover them?
Another angle might be SWR logic. This is much easier to plan for than most aspects of FIRE: it's so short as to be almost instantaneous, and right at the start of retirement. What would happen to your calculations if you imagined selling enough stock now while the market is high to cover these expenses, maybe plus income from a month or two more work than planned? Being on the cusp of receiving Social Security, your absolute worst case should be safer than is possible in typical FIRE math.
The main issue is the loss of ability to obtain insurance because of pre-existing conditions, and the premium smoothing inherent in the ACA design. I am 59 and by this age almost everyone I know, including myself, has something in our current health situation or medical history that would preclude us from eligibility. Without the ACA smoothing, which spreads some of the premium costs across the population, so that the younger healthier adults are paying slightly more and the older adults are paying slightly less in premium than they would be based solely on their individual risk profile, the cost would be very high. I could probably handle an expensive policy, but it wouldn't even be available to me.
I have many years experience in healthcare as well as health insurance. I have designed health insurance products. I have had a front row seat in the overall landscape and what happens when underinsured/not insured, and there is no way I would risk my entire life savings on one unforeseen medical event. Unless you are a gazillionaire you cannot self-insure. i also believe it is morally wrong to do so, because those unpaid medical bills create a cascade of costs that impact society.
Post by: the_fixer on October 24, 2020, 03:34:28 PM
Sad but true :(
Post by: texxan1 on October 28, 2020, 07:47:25 AM
Oh and someone aboved mentioned giving companies plenty of time, well let me tell you my expereince in the last week since a date was finally chosen.... now mind you, i am going on under an Expression oF Interest ( voluntary severance)....
The day my paperwork came in, first thing the company did was lock me out of all files and accounts.. Ones that i still currently need access to in able to perform my job lol..... so i told my big boss that i cant be of any help, since i cant get into my accounts... He doesnt even have enough stroke to get my access back..... second, they limited my email access to only a company network or read only access from my personal devices..... they even locked me out of the portal to file my MOC for departure from the company and HR is screaming at me to get this all done etc, but i cant lol.... So told them they would have to come to me, as i sure as shit aint driving to headquarters an hour away to sign one document...,,,
If filed a greavance, as they are 6 months behind in paying me Per Diem ( i work abroad 28/28) ... so that check should be over 10k.
Times a tough but its time to GTFO
Cheers
Tex
Post by: moneypitfeeder on October 30, 2020, 05:43:32 PM
My boss is talking about promoting me, and whatever metric.... And now, I really don't want a promotion. So I asked my wife to make me a calendar that I can hang behind my monitor, where I can cross off the days and look at it while listening to this guy on Zoom.
I feel ya! I have a similar calendar behind my monitors too. I was told about a promotion/position my chain wanted to hire me into, but I was usurped by an active-duty spouse, I didn't stand a chance unfortunately, my boss even called to confirm I wasn't somehow a disabled vet that I hadn't mentioned, just a vet. Promo would have been nice, but, couple more months...I just keep crossing them off :)
Post by: moneypitfeeder on October 30, 2020, 05:49:28 PM
these last 11 weeks of 2020 this might be your last chance to update your information before it becomes Our Year.
Hey ScreamingHeadGuy, please bump me to Feb 1 2021...I'm thinking I'll give my company 2 more weeks of putting up with me, lol. Thx!
Post by: ScreamingHeadGuy on November 11, 2020, 07:16:39 PM
Because work's been going so awesomely lately I've been considering adding one month more (until March 5th). But then today's work happened and I'm now also considering bailing on January 15th. When I'm working on "my" projects work is nice and tolerable, but when I get sucked into someone else's project (and have to deal with the crap-storm they've created) my job is really unlikable.
I was dreading the near future lately given the run-up to and fall-out from election season. Then the ACA hearing at the Supreme Court yesterday made me feel a little more comfortable (maybe health insurance will actually be affordable for me post-FIRE!).
The Top is in!
Post by: moneypitfeeder on November 13, 2020, 05:50:19 PM
Post by: Arbitrage on November 16, 2020, 12:11:16 PM
Post by: LightTripper on November 16, 2020, 03:25:12 PM
....she's a creature of habit, and also one who avoids confrontations....
This is also very much me. If it's any comfort, my own transition out seems to have been met with calmness and civility so far (although admittedly my big boss has gone rather quiet since I suggested a 1 day a week base rather than 2.5 ... but really it is good for them as well as for me, given it's less commitment of cash).
It feels hard and weird though. Does she have to give notice soon? I would advise to try to think about it as little as possible until she actually has to do it, and then just spend an hour or two coming up with a form of words she is happy with and bite the bullet.
Post by: Mrs. Healthywealth on November 16, 2020, 04:53:11 PM
Wanted to add myself to this cohort...it’ll hold me a bit more accountable to pull the trigger. I’m about to turn 42, my DS is 46. Will try to post our progress on here. Currently, we have about .60 x expenses in rental income, with another .25 x expenses coming in once we close on 2 more properties this month. Stocks/bonds produce about .25 x expenses @3.5 SWR. The net proceeds from sale of our house will let us buy a few more rentals, which will produce 1.6 x expenses by April. If I work the whole year it will decrease medical insurance when I hit 50 by another 4%, and add an additional $1800/yr to my pension. But, the anniversary is in December, not sure I’ll make it or that it’s even worth it. Currently, our pensions combined will provide .53 x expenses and only $200 out of pocket for great healthcare when I turn 50.
Goal: Retire with at least 1.92-2.56 x expenses from rental income-summer 2021. Cashflow from rentals and equities equals at least 2.56 x expenses. By 50, pension will kick in-0.56 x expenses, making total passive income equal 3x expenses-this will be enough for kid’s college, hobbies, slow travel, charity, and helping elderly family members if needed.
Plan during retirement: i got a job to do something I enjoy, but I’m reconsidering just doing nothing for at least 1yr. I accepted the job earlier this year, but didn’t realize that rental income will cover all our expenses and then some; then Covid happened and I’ve pushed my start date to end 2021. Will work with someone to help me actually quit current job and address any irrational fears that are coming up, like “this is too good to be true” or “no way, after all these years (8-9 years) of saving our brains out did we actually get here.” My DS will work 1-2 yrs to make sure all safety nets are in place.
Hope all of you are doing great and congrats for getting this far!
Post by: Arbitrage on November 17, 2020, 03:56:54 PM
....she's a creature of habit, and also one who avoids confrontations....
This is also very much me. If it's any comfort, my own transition out seems to have been met with calmness and civility so far (although admittedly my big boss has gone rather quiet since I suggested a 1 day a week base rather than 2.5 ... but really it is good for them as well as for me, given it's less commitment of cash).
It feels hard and weird though. Does she have to give notice soon? I would advise to try to think about it as little as possible until she actually has to do it, and then just spend an hour or two coming up with a form of words she is happy with and bite the bullet.
The tricky part is that we're aiming not to have her leave the company altogether, but rather to drop down to part-time and halve her responsibilities (while we simultaneously relocate to another area of the country). In theory, that should ease the transition, but we'd like to get the arrangement ironed out before we start going to open houses and such. Of course, the relocation itself is a big part of the angst for her.
Post by: LightTripper on November 17, 2020, 04:15:20 PM
Yes of course!! Totally natural, but my guess is the anticipation will be worse than the doing. Fingers crossed!!....she's a creature of habit, and also one who avoids confrontations....
This is also very much me. If it's any comfort, my own transition out seems to have been met with calmness and civility so far (although admittedly my big boss has gone rather quiet since I suggested a 1 day a week base rather than 2.5 ... but really it is good for them as well as for me, given it's less commitment of cash).
It feels hard and weird though. Does she have to give notice soon? I would advise to try to think about it as little as possible until she actually has to do it, and then just spend an hour or two coming up with a form of words she is happy with and bite the bullet.
The tricky part is that we're aiming not to have her leave the company altogether, but rather to drop down to part-time and halve her responsibilities (while we simultaneously relocate to another area of the country). In theory, that should ease the transition, but we'd like to get the arrangement ironed out before we start going to open houses and such. Of course, the relocation itself is a big part of the angst for her.
Post by: Arbitrage on November 18, 2020, 10:44:26 AM
Post by: the_fixer on November 18, 2020, 11:23:41 AM
Updated my 401(k) contribution rate to frontload next year's contributions and max it out before I finish up. Getting closer...Way to go, certainly time to start making moves to fill the buckets to take advantage of the final year
Set mine to 70% (as high as my company will allow) first year I can do catchup so should be filled end of May
Once that is done filling the HSA should be done mid June
Then both Roth’s should be early September
Gives me a month + of extra to set some money aside or to pay towards the final house payment
After that I can be done :)
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Post by: texxan1 on November 19, 2020, 05:56:47 AM
Updated my 401(k) contribution rate to frontload next year's contributions and max it out before I finish up. Getting closer...
I plan on doing the exact same thing.... I am going 99% to 401k for first 3 paychecks, that should max my pretax out.. then go to 7% to get my co pay matcch and should be GOOD TO GO... Current date is Febuary 17th.... Too bad my severence isnt benefits bearing
Post by: Aethonan on November 19, 2020, 06:03:56 PM
Post by: The 585 on November 21, 2020, 06:30:53 AM
Post by: ScreamingHeadGuy on November 21, 2020, 06:54:01 AM
@aethonan13 what’s the length of your notice period? Or can/will it vary based on the “off-ramping” option?
Post by: Aethonan on November 21, 2020, 07:38:01 PM
Not that I've been compulsively gaming out the possibilities or anything... ;)
Post by: ScreamingHeadGuy on November 29, 2020, 03:19:09 PM
November sure was an amazing month for market returns. Per ERN’s spreadsheet there is no need for us to worry about our pecuniary future (knock on wood).
We had our circuit panel replaced this past month, which of course meant all of us work- and school-from-home folks had to vacate for part of the day.
I’m wrapping up a five day long holiday weekend and, like every time I have a longer-than-usual weekend I think to myself “Yes, I think I could do without work.” Which really makes me wonder what the heck I’m thinking in my first paragraph.
Post by: TheContinentalOp on December 01, 2020, 06:49:27 AM
Post by: highlandterrier on December 01, 2020, 07:12:32 AM
Post by: phildonnia on December 01, 2020, 09:35:30 AM
My wife has decided maybe to stay on at work for a short while. She likes the work, but hates the people. So working from home suits her fine as long as it lasts.
We're meeting with our financial advisor later this month to go over the details of post-retirement cash flow.
Post by: tipster350 on December 01, 2020, 09:38:56 AM
Post by: Ladychips on December 01, 2020, 01:01:43 PM
Happy December 1st! We have exactly ONE MONTH until we can say "I'm retiring this year".
+1
Post by: Aethonan on December 01, 2020, 03:50:28 PM
Been having lots of fun telling people at work one by one that I'm leaving next year. One of the benefits of long-term WFH, the rumour mill doesn't go into action, and no big announcement necessary, just drip feed the joy to someone else every few days.
That sounds wonderful!
Happy December 1st! We have exactly ONE MONTH until we can say "I'm retiring this year".
WOOT. Feeling bouncy and (almost) free! Fortunately I front-loaded work this year, so these last months are a glide to the finish... which is good, because my motivation is toast. :)
Post by: moneypitfeeder on December 01, 2020, 04:56:21 PM
That sounds wonderful!
Happy December 1st! We have exactly ONE MONTH until we can say "I'm retiring this year".
WOOT. Feeling bouncy and (almost) free! Fortunately I front-loaded work this year, so these last months are a glide to the finish... which is good, because my motivation is toast. :)
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I 100% agree, and my fun-meter has been pegged for months...I'm just trying to maintain enough give a s&*% to get to my finish line ( I would never actually do sub-par work though, just trying to curb some of my inputs and letting some others take a hold of the reins) I've got 13 business days till I take 2 weeks-leave and then I only need to get through January, Whoot!
Post by: Arbitrage on December 02, 2020, 12:38:30 PM
I'm strategizing out how to ask for part-time remote work myself. We recently were asked on our remote work preference following COVID, and I indicated 100%...which may lead to the conversation on exactly why. I'm thinking of framing it as "I'm planning to move in 6 months. If possible, I'd like to explore options for remaining with the company after that time)."
My company is non-profit, and I'm a valued contributor at this time, so I'm hoping for a positive response.
Post by: MoneyTree on December 02, 2020, 03:38:07 PM
We have been having all of our open enrollment related benefits sessions at work, including the obligatory 401k meeting, which basically tells everyone how great it is to save in their 401K. Makes me sad how much they have to beg and plead and pull teeth to convince people to do what is in their own best interests.
I used that opportunity to boost my 2021 contributions to 90% of each paycheck (the highest percentage it will allow).
Doing so will enable me to max my contributions for the full year by the end of february.
Last time I bumped up my contribution percentage, HR had to have a chat with me and basically ask me "Uh, are you sure about this?" I'm anticipating another chat with HR where they need to confirm that I'm not out of my mind.
Post by: LightTripper on December 02, 2020, 03:41:02 PM
How would you feel about coming back for bits of time, if that was the deal? Like 95pc remote or something?
Sorry things are not working out with your wife's job, though it does sound like a clean break could do her a lot of good.
Post by: tipster350 on December 02, 2020, 05:07:47 PM
It is a relief to only be concerned about doing a decent job with my current responsibilities. Four decades of always planning and strategizing and maneuvering to stay ahead of the curve, concerned about my marketability, keeping track of market trends, networking, keeping my resume tuned up at all times, is exhausting.
Kids, this is why you should save early and often and in large percentages.
Post by: Arbitrage on December 02, 2020, 05:28:18 PM
How would you feel about coming back for bits of time, if that was the deal? Like 95pc remote or something?
Sorry things are not working out with your wife's job, though it does sound like a clean break could do her a lot of good.
I would be willing to come back on a very limited basis as you describe; in fact, it might be a likely request. I work in the space industry, and supporting launches is part of the gig. I can do a lot of that support remotely, but there is something to be gained by being on site.
DW's job is just a downward spiral right now. She's holding the entire company together while the family ownership/leadership is falling apart. If there were any accountability, the CEO would've been fired ten times over.
Post by: Aethonan on December 03, 2020, 09:13:24 AM
Looking increasingly likely that my RE will be more of a downshift + relocation (if my employer will accommodate).
You can do it Arbitrage! Consider it "chapter overlap" :) I've been on the fence about that option as well... having options is a good problem, I guess!
Post by: 12321 on December 04, 2020, 07:56:37 AM
I made this account partially as a joke. The numbers sort of lined up, but I didn't really want to "retire." I wanted to run my own small consultancy.
Covid hits, and I got laid off in March.
In April I filed my LLC paperwork.
I'm able to turn down clients I don't want, have business expenses for healthcare premiums and HSA contributions and both sides of employer/employee 401k contributions.
Meanwhile (for some reason) the market continued to go up. I'm comfortable with a 4% withdrawal rate at 2.5M. The market now has us at 2.7M invested, with about a year's cash in an emergency fund.
So... sounds like I'm actually retiring to my small consultancy. Or maybe I did in March? Feels very strange but exciting!
Post by: sisto on December 04, 2020, 09:39:53 AM
Post by: HumanAfterAll on December 06, 2020, 11:14:14 AM
Joining this cohort leaving the 2022 thread. 2020 taught the DH and me a lot about how well we were already doing and a recent discussion with our insurance guy relieved my fears about obtaining health insurance between 2021 and when we will be eligible for Medicare. It’s both exciting and terrifying to be seriously considering going FI/RE in the summer of 2020.
Welcome to the cohort SheWhoWalksAtLunch! Care to share what you learned about health insurance?
As for myself, I got all excited about a new job a couple months ago (potentially much higher pay), and the interview seemed great, but they ended up passing. In retrospect it would have been locking me into another 2-4 years, and would have been stressful after the honeymoon period was over anyway. That made me think about what I really want - a big chunk of extra cash for lifestyle inflation, vs. retiring as soon as possible. So I've pruned one of the three branches in the decision tree (stay at job, stop working,
We are at 91% FI right now, so another 10% market gain would get us to our number without any further savings. My wife wants to keep working, and she can cover our expenses while still maxing our her 401k. So our plan for 2021 is for me to max out all of my tax advantaged savings in Jan-Feb, give notice end of February, and be free end of March! I might let them keep me part time a little longer to smooth the transition, because the group is understaffed and my role will be hard to fill, but I'll be putting up some big boundaries if that happens. There are just enough people I care about and who I want to stay connected with, that I don't want to make a bad exit.
Looking forward to focusing my time & attention on my family (5yo and wife), having some alone time, hiking on weekdays, building stuff for myself, learning new skills, and having energy for family on the weekends!
Post by: ScreamingHeadGuy on December 06, 2020, 08:25:53 PM
So far we have 71 folks here who will be FIRE in 2021 and 5 have gone OLY into the 2020 Cohort.
Average age of 2021ers is 45.02 (based on those 50 members who provided an age at FIRE date). 2020 average age is 48.32. 2019 average age was 47.38.
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@12321 - Would you like me to list you as Self-Employed since April 2020? Or maybe just already-SWAMI?
@sisto - Howabout I list you as "FIRE'd in spirit since 2019" and/or pre-confirm your FIRE date?
@SheWhoWalksAtLunch - Welcome aboard. For the sake of the chart what's your projected date and age at FIRE?
Post by: Ladychips on December 07, 2020, 05:04:19 AM
Post by: Aethonan on December 07, 2020, 01:03:37 PM
Quote
***useful tip*** Go to https://www.healthcare.gov/ and type quotes into the search bar in the upper right hand corner, on the results screen click on Preview health plans & prices based on your income in the blue box. Those two steps will get you to where you can view options in your area without having to start an account. (when it asks for your 14 character plan id just hit skip)
Thanks for this! Super helpful to have an entry point to quickly get the gist.
Post by: moneypitfeeder on December 07, 2020, 03:03:12 PM
Post by: effigy98 on December 07, 2020, 03:22:15 PM
Another good year in the tech industry. I am not very optimistic about 2021 as the real economy is shit. I have major conflicts between investing and protecting wealth this year. I strongly repositioned out of risk assets as I approach FI to reduce sequence of returns risks. I still think end of 2021 is achievable, but I calculate my SWR based on CAPE so I actually keep getting a little bit farther away as markets go up faster then my investments. Right now my CAPE adjusted SWR is 3% so if things keep going like this I will be 2022 probably.
- Age 43, target FIRE date 12/2021
- House still paid off, real estate at 1.3m worth (up 200k). Got new 7 acres of land in a cheap place few hours away, plan B if I need to old man retire somewhere cheap out in the woods, otherwise just grow trees on it and sell them. A week of property taxes on my house is the SAME as a full year on the land... insane. I feel a bit raped.
- 1.62m in investment accounts (up from 1.2m).
- Bitcoin... maybe going to be awesome?!? Whatever, I'm a long term holder as an insurance policy so I don't feel like I missed the boat if it does well, however I might sell my cost basis soon. Not looking forward to taxes.
- 529 20k (slightly up)
- HSA 42k (up from 30k)
- Rental still around 70k owed (unchanged)
- Accidently got a 3rd side gig from word of mouth from the 2nd side gig that is even more profitable. Mostly done with this 3rd software job, but started a shopify store and testing that out.
- At 91% savings rate now. Job has been much more relaxing (no commute) since lockdown. I have been able to say NO to many things looking at my FI numbers keeping a good work life balance. I even get asked how I say "no" and I tell them I don't care if I keep this job and that gives me great power. I actually think I am doing better in the eyes of management because I am much more confident in meetings and bring up things others seem afraid of... I am just not that worried to lose the job like others who are slightly paranoid. At first the lockdown was difficult as I was working too much. I then setup Alexa timers in my office space to turn everything off at 5pm and leave everything including my phone in my office and that fixed my need to overwork when working from home. People don't seem to like I am unavailable after 5pm, but that is what FU money can buy me :).
Wall of shame stuff
Spent about 25k fixing up yard, house, and office since it is kind of my new prison this year.
I bought calls on SQQQ before election after a very shitty week at work thinking... the election will get me out of this shittastic rat race... That was about 35k down the drain and tacks on a few months more of work. Market timing usually burns me and it did again! I also cannot justify the CAPE right now but I have given up putting logic to the market and went all into RISK parity again using diverse assets, collars, etc. I can at least sleep at night but the markets are bullshit in my opinion right now, but not sure where else to put money to get a return.
I also have to admit that being trapped in my house for so long, I will probably spend a lot of money next year on trips and potentially go on a few shopping sprees. I felt like I put life on pause and it was pretty boring. I may take a year off of my FI goals and live like a normal stupid American and blow all my money. Not sure yet :).
Another caveat, IF real estate falls apart like I think it SHOULD do, then I'm going crazy on investing in it in areas I think will be fine long term or it's some place I want to move too eventually. I did not enjoy the area much where I live and could use some more sun to enjoy my RE days.
Post by: Aethonan on December 08, 2020, 10:10:46 AM
Turned in my resignation letter today, last working day January 29th, 2021. Feels odd...somehow not as satisfying as I thought it would be, but still not changing my mind either :)
@moneypitfeeder Any sense why that is? Maybe because nothing has really changed yet?
Post by: dividendman on December 08, 2020, 10:17:50 AM
Post by: moneypitfeeder on December 08, 2020, 03:45:31 PM
Post by: FarFetchd on December 09, 2020, 12:43:06 PM
As for myself, I got all excited about a new job a couple months ago (potentially much higher pay), and the interview seemed great, but they ended up passing. In retrospect it would have been locking me into another 2-4 years, and would have been stressful after the honeymoon period was over anyway. That made me think about what I really want - a big chunk of extra cash for lifestyle inflation, vs. retiring as soon as possible. So I've pruned one of the three branches in the decision tree (stay at job, stop working,find different job).
We are at 91% FI right now, so another 10% market gain would get us to our number without any further savings. My wife wants to keep working, and she can cover our expenses while still maxing our her 401k. So our plan for 2021 is for me to max out all of my tax advantaged savings in Jan-Feb, give notice end of February, and be free end of March! I might let them keep me part time a little longer to smooth the transition, because the group is understaffed and my role will be hard to fill, but I'll be putting up some big boundaries if that happens. There are just enough people I care about and who I want to stay connected with, that I don't want to make a bad exit.
Looking forward to focusing my time & attention on my family (5yo and wife), having some alone time, hiking on weekdays, building stuff for myself, learning new skills, and having energy for family on the weekends!
It sounds like we're in extremely similar situations. I'm also considering calling it quits around March, currently around the same percent of my goal as you, and my wife also wants to keep working. It sure is a nice situation - when I force myself to think about it objectively. Work still does get me irrationally stressed! I hope the next few months, and then also the time after that, goes well for both of us.
Post by: HumanAfterAll on December 09, 2020, 07:49:23 PM
It sounds like we're in extremely similar situations. I'm also considering calling it quits around March, currently around the same percent of my goal as you, and my wife also wants to keep working. It sure is a nice situation - when I force myself to think about it objectively. Work still does get me irrationally stressed! I hope the next few months, and then also the time after that, goes well for both of us.
Twins! Cheers, good luck to us both!
Post by: Trede on December 15, 2020, 01:30:47 PM
Post by: Arbitrage on December 15, 2020, 03:07:16 PM
Also fixing up some things around the current place that have been neglected and should be repaired before listing. Still have 7 months of runway but I have a feeling that those can disappear quickly with how long these various bank approvals and real estate transactions take. We want to have as many options as possible for the new house.
Post by: Peter Parker on December 15, 2020, 03:11:36 PM
Mask up people--Don't be the person who gets shot on the day of the armistice. Get through this and make 2021 and beyond everything you hoped it would be.
Post by: ScreamingHeadGuy on December 15, 2020, 06:50:35 PM
Welcome aboard @Trede
Post by: JoJo on December 15, 2020, 08:34:25 PM
Post by: ospreyjp on December 15, 2020, 09:26:04 PM
Mask up people--Don't be the person who gets shot on the day of the armistice.
This is exactly the analogy I have been using recently! Most of my co-workers don't get the WWI reference though. I definitely don't want to be that poor sod that gets this thing just before the 11th hour of the 11th day of the 11th month.
Post by: Arbitrage on December 16, 2020, 09:27:56 AM
Yesterday pushed me over my goal FIRE number for the first time ($1.25M liquid, not counting 529 accounts). Technically, that goal needs to be amended a bit; I set it three years ago and it was contingent upon having enough home equity to purchase our next house outright using the equity in our current house. Unfortunately, house prices have been skyrocketing where we want to move to; while our house has increased in value as well, it hasn't quite kept up, and we'll end up short.
To make up the difference and give us padding, we've still got another 7-8 months of full-time work, and at least one of us is going to try to secure part-time work after the move for a bit. On the plus side, our spending has trimmed back more than expected when I set that goal number. I'm good with 4% SWR for planning despite low interest rates and elevated P/E10, with a small pension, social security, and part-time work providing the safety margin. I was therefore targeting $50k of ex-mortgage spending, but we're clocking in consistently below that level.
Despite the caveats, it felt momentous to hit that goal number for the first time. It may be fleeting with market fluctuations, but it's making everything feel more real.
Post by: ScreamingHeadGuy on December 16, 2020, 12:55:37 PM
Yesterday pushed me over my goal FIRE number for the first time ($1.25M liquid, not counting 529 accounts). Technically, that goal needs to be amended a bit; I set it three years ago and it was contingent upon having enough home equity to purchase our next house outright using the equity in our current house. Unfortunately, house prices have been skyrocketing where we want to move to; while our house has increased in value as well, it hasn't quite kept up, and we'll end up short.
To make up the difference and give us padding, we've still got another 7-8 months of full-time work, and at least one of us is going to try to secure part-time work after the move for a bit. On the plus side, our spending has trimmed back more than expected when I set that goal number. I'm good with 4% SWR for planning despite low interest rates and elevated P/E10, with a small pension, social security, and part-time work providing the safety margin. I was therefore targeting $50k of ex-mortgage spending, but we're clocking in consistently below that level.
Despite the caveats, it felt momentous to hit that goal number for the first time. It may be fleeting with market fluctuations, but it's making everything feel more real.
It’s a great feeling, I’ll admit, when you breach that goal the first time. By the third or fourth time, though, the feeling wears off. I would suggest tuning out daily fluctuations for a week or two; otherwise you’ll feel like your stomach is on a rollercoaster (or at least that was my experience).
Post by: exit2019 on December 17, 2020, 10:40:01 PM
Absconded from 2019, procrastinated my way out of 2020, I have come to join the 2021 cohort. Third time is, in fact, the charm. I will be resigning 2/12/2021 with a target last day and "don't expect anything out of me except whatever brain-scooping you want to do" exit date of 3/12/2021.
2019: offer I couldn't refuse
2020: willing to walk away, but .. to what? Covid19.
2021: February or bust.
Post by: moneypitfeeder on December 18, 2020, 03:19:12 PM
Post by: BikeFanatic on December 21, 2020, 03:33:13 PM
Post by: Sciurus on December 22, 2020, 10:51:26 AM
I am looking forward to spending even more time with my young children, now without the ever lurking specter of work projects hanging ever present in my mind.
Hasn't fully sunk in yet, but no regrets :)
Post by: Chaplin on December 22, 2020, 07:02:00 PM
I am looking forward to spending even more time with my young children, now without the ever lurking specter of work projects hanging ever present in my mind.
That is exactly why I'm looking forward to it too! Vacations are not really vacations and weekends are not really weekends. Some of that is my own fault of course, but that just makes it my responsibility to fix it.
Post by: ixtap on December 24, 2020, 09:51:48 AM
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.
Someone tried to convince us to move to Peru this week. Which was particularly odd because we were telling them we want to cruise on our sailboat.
Post by: exit2019 on December 26, 2020, 01:54:41 PM
This year Machu Picchu for sure. Still deciding on a second adventure closer to home. Would love to do an extended whitewater rafting trip.
Machu Picchu is amazing. The Salkantay lodge-to-lodge treks are a lot more fun than the Inca trail hike.
Post by: ScreamingHeadGuy on December 26, 2020, 11:10:22 PM
I'm three days into a 12-day-long vacation and it feels like it's been forever since I've worked (in a good, not-thinking-about-it way). We can call it a test-drive of the FIRE lifestyle before I make the big move in a few months.
I hope everyone else's year-end holiday season is going well. It's only a matter of DAYS now until we start ticking names off the list.
Post by: monarda on December 27, 2020, 12:10:18 AM
Post by: Ladychips on December 27, 2020, 05:25:27 AM
It's only a matter of DAYS now until we start ticking names off the list.
So exciting!!!
Post by: sailingTowardsFI on December 27, 2020, 08:08:00 AM
I think June anyway. Different factors could push that sooner or later, but it's definitely this year. Feels so close now!!
Post by: dblaace on December 28, 2020, 12:46:01 PM
Post by: goat_music_generator on December 28, 2020, 06:41:08 PM
You can put me down for January 29, 2021, age 27.
(That feels really weird to write.)
Post by: ScreamingHeadGuy on December 29, 2020, 07:46:51 PM
2015 - 23 posts (0.63 pages/year)
2016 - 76 posts (1.52 pages/year)
2017 - 50 posts (1.00 pages/year)
2018 - 84 posts (1.68 pages/year)
2019 - 94 posts (1.88 pages/year)
2020 - 350 posts (7.00 pages/year)
Looks like 2020 was the year this cohort became too cool to not post anymore (but I was already not not posting before it was cool).
Post by: tipster350 on December 30, 2020, 08:24:36 AM
Fun statistics about this cohort's thread.
2015 - 23 posts (0.63 pages/year)
2016 - 76 posts (1.52 pages/year)
2017 - 50 posts (1.00 pages/year)
2018 - 84 posts (1.68 pages/year)
2019 - 94 posts (1.88 pages/year)
2020 - 350 posts (7.00 pages/year)
Looks like 2020 was the year this cohort became too cool to not post anymore (but I was already not not posting before it was cool).
We were a quiet group, but finally came out of our shell!
Tomorrow night the ball drops into our year!!!!!!
Post by: RedefinedHappiness on December 31, 2020, 11:51:28 AM
Post by: Jack0Life on December 31, 2020, 02:52:55 PM
Originally as of last year, I had a $120k job and my wife just got a $50k job right of of college. We were a DINK couple and going to FAT FIRE at $1.5 million when ever we get there.
2020 happened and I got laid-off from a 20+ yr job. My wife absolutely hates her job.
So the plan is for my wife to quite around March. I have no job LOL.
As of Dec 31st 2020, we are sitting at $1,125,000 NW which translate to about $44k/yr. Our current expenses involve a mortgage so its a little more than $44k.
Our plan is to move to SE Asia(whenever they decide to open) when my wife quit. We will remain retire indefinitely until out NW dip below $1 million. I joke with my wife that as long as we're in SE Asia, our NW will never dip below $1 million.
Worst case the extra $125k should last us at least a couple of years.
Post by: ScreamingHeadGuy on December 31, 2020, 07:07:22 PM
I think the biggest concern about leaving work is doing it the right/best way. How can I optimize this aspect, too? Can I finagle matters so as to get a severance? Do I just send a Dear John resignation letter (“I resign effective today. Send all the HR paperwork to my home address.”)? Offer to stay on for up to another X weeks to transition projects if the company desires? In this situation it seems like saving and investing for 20 years was the easy part. But I know I’m over-thinking this; people leave their jobs everyday and it’s no biggie for them. Anyone have good resources for this aspect?
I am now one week into a 12-day-long (counting weekends) vacation. I no longer can tell what day of the week it is without having to really think about it. On days when nothing else is scheduled, and when the wife’s able to watch the child, I feel no shame in taking a nap. I have an abundance of time to read, exercise, check the news on my tablet, and go sledding with the girl.
Thanks to the amazing market returns this past year our withdrawal rate (which assumes my wife doesn’t have her part-time job and that I earn nothing) is now sub-3%. We also have 2.5 years’ expenses in cash. I assume some of that cash will be invested soon and some will be used for home improvements (which will reduce our withdrawal a bit, since those annualized expenses were included in our modeled spending).
Here we are, Our Year. Qapla! (That’s Klingon for “Success!”.)
Post by: Ladychips on December 31, 2020, 07:46:28 PM
In this situation it seems like saving and investing for 20 years was the easy part.
I said something very similar to my husband today. Our networth is about $50,000 more than I had planned in my wildest dreams - with 6 more months of saving to go (thank you market). I told him I was really good at saving money...but I didn't know squat about spending it. I'm going to need some help figuring out roth conversions and so forth. He reminded me that in 6 months, we'll have plenty of time to investigate and ask for help!
I can't wait to see all the "today is my last day' posts rolling in!
Post by: the_fixer on December 31, 2020, 10:06:04 PM
Lets hope 2021 will be the start of something great for our cohort.
Sent from my iPhone using Tapatalk
Post by: Well Respected Man on December 31, 2020, 10:15:15 PM
I'm at the beginning of 8 weeks off, and I'm using it to set my post-FIRE habits. I'm really tempted to move my date up. I think I put Sept. 1 or thereabouts, and I'm definitely moving it up by at least one month. I could move it up another 3 months and lose a few RSUs and ESPP gains. The thing is, I'm already leaving tons of those on the table. No matter when I say goodbye, I'll have unvested RSUs. The biggest chunks vest in January, then bonuses and 401k matches are paid out. I do have a few more semesters of college to pay for, but nothing too outrageous. Very tempting.
I'm working on our house, so that we can downsize this year. No new things are coming into the house, just leaving. Very happy at the moment.
Post by: RWTL on January 01, 2021, 08:05:31 AM
Post by: dblaace on January 01, 2021, 08:26:31 AM
Well, we are now mere hours from the year we (as a group) will leave our current employment status behind. I feel a sense of anticipation, anxiety, brooding relief, and utter terror. I’ve spent the past 15 months getting myself mentally ready for this event, and now I am staring down a panic as if this is a spur-of-the-moment life changing thing.
I think the biggest concern about leaving work is doing it the right/best way. How can I optimize this aspect, too? Can I finagle matters so as to get a severance? Do I just send a Dear John resignation letter (“I resign effective today. Send all the HR paperwork to my home address.”)? Offer to stay on for up to another X weeks to transition projects if the company desires? In this situation it seems like saving and investing for 20 years was the easy part. But I know I’m over-thinking this; people leave their jobs everyday and it’s no biggie for them. Anyone have good resources for this aspect?
I am now one week into a 12-day-long (counting weekends) vacation. I no longer can tell what day of the week it is without having to really think about it. On days when nothing else is scheduled, and when the wife’s able to watch the child, I feel no shame in taking a nap. I have an abundance of time to read, exercise, check the news on my tablet, and go sledding with the girl.
Thanks to the amazing market returns this past year our withdrawal rate (which assumes my wife doesn’t have her part-time job and that I earn nothing) is now sub-3%. We also have 2.5 years’ expenses in cash. I assume some of that cash will be invested soon and some will be used for home improvements (which will reduce our withdrawal a bit, since those annualized expenses were included in our modeled spending).
Here we are, Our Year. Qapla! (That’s Klingon for “Success!”.)
I know the feeling.
My biggest fear I guess are healthcare costs. I'm about 10% away from my conservative number and I'll contribute 3% of that. I'll be 60 in September and able to withdraw from retirement accounts then 2 1/2 years till SS. The numbers add up but there is still anxiety. I am going to avail myself of the Financial Planner benefit at Fidelity next month for the first time to go over everything to make sure I am not missing anything. I also need to think about estate planning.
I was supposed to be off these last 2 weeks, still losing 40hrs of vacation and rolling over 80. I ended up having to go in 2 of the days and probably 20hrs working from home. I may end up having to go in today or tomorrow. It never stops and I can't turn it off in my head.
Not sure how I am going to let them know or when, or what the reaction will be.
Post by: Arbitrage on January 01, 2021, 09:06:04 AM
Good feeling. It's going to be a lot of work to make this happen, but I'm excited.
Post by: CoffeeR on January 01, 2021, 09:41:27 AM
Post by: tipster350 on January 02, 2021, 09:51:33 AM
Well, we are now mere hours from the year we (as a group) will leave our current employment status behind. I feel a sense of anticipation, anxiety, brooding relief, and utter terror. I’ve spent the past 15 months getting myself mentally ready for this event, and now I am staring down a panic as if this is a spur-of-the-moment life changing thing.
I think the biggest concern about leaving work is doing it the right/best way. How can I optimize this aspect, too? Can I finagle matters so as to get a severance? Do I just send a Dear John resignation letter (“I resign effective today. Send all the HR paperwork to my home address.”)? Offer to stay on for up to another X weeks to transition projects if the company desires? In this situation it seems like saving and investing for 20 years was the easy part. But I know I’m over-thinking this; people leave their jobs everyday and it’s no biggie for them. Anyone have good resources for this aspect?
I am now one week into a 12-day-long (counting weekends) vacation. I no longer can tell what day of the week it is without having to really think about it. On days when nothing else is scheduled, and when the wife’s able to watch the child, I feel no shame in taking a nap. I have an abundance of time to read, exercise, check the news on my tablet, and go sledding with the girl.
Thanks to the amazing market returns this past year our withdrawal rate (which assumes my wife doesn’t have her part-time job and that I earn nothing) is now sub-3%. We also have 2.5 years’ expenses in cash. I assume some of that cash will be invested soon and some will be used for home improvements (which will reduce our withdrawal a bit, since those annualized expenses were included in our modeled spending).
Here we are, Our Year. Qapla! (That’s Klingon for “Success!”.)
I know the feeling.
My biggest fear I guess are healthcare costs. I'm about 10% away from my conservative number and I'll contribute 3% of that. I'll be 60 in September and able to withdraw from retirement accounts then 2 1/2 years till SS. The numbers add up but there is still anxiety. I am going to avail myself of the Financial Planner benefit at Fidelity next month for the first time to go over everything to make sure I am not missing anything. I also need to think about estate planning.
I was supposed to be off these last 2 weeks, still losing 40hrs of vacation and rolling over 80. I ended up having to go in 2 of the days and probably 20hrs working from home. I may end up having to go in today or tomorrow. It never stops and I can't turn it off in my head.
Not sure how I am going to let them know or when, or what the reaction will be.
I'm there with you.
I'll be 60 in March. I am SO DONE with working. I spent the last week, week of PTO, having to do at least some work every day and a full day on one of them. I had to call in today, also. Having to call in and do work, even for five minutes, completely removes any vacation wind down of stress and puts my head back into the work mode. There is no way out except to retire, as these are the conditions attached to my fairly well-paid megacorp job. After so many years of this grind, and exhibiting a positive and engaged demeanor, it becomes intolerable.
I am FI, and may have an additional top-up of unexpected funds coming my way soon. Either way, I'm out. I'm anxious too, because at this age, because of age discrimination, it's not so easy to jump back in if needed. I am anxious about healthcare costs also. HOWEVER, the clock is ticking, we never know how long we will have enough health to enjoy the time and freedom of retirement, and odds change quickly with every passing year 60+.
Come heck or high water, I am OUT in 2021.
Post by: American GenX on January 02, 2021, 11:12:11 AM
I thought I was going to be a 2020 cohort, but with the ACA uncertainty and elections later this year, I'll likely be holding off until 2021.
Welcome! We’re glad you’re here even if you decide to leave early.
Well, I'm still here, with renewed hope for 2021.
Post by: MoneyTree on January 02, 2021, 06:30:44 PM
As some others have expressed, I also feel more anxious about how best to leave work than I do about how our financial situation will be once I'm done. I feel like I am resourceful enough to make things work even if the stock market doesn't quite cooperate. But I don't think I can leave work without leaving some people in a tough spot, and that is strangely causing me quite a bit of anxiety.
Part of me is hoping that the company doesn't do well so that they do layoffs and the decision is made for me. I'd be the first to sign up!
Post by: mindfulrun on January 03, 2021, 06:21:08 AM
I'm still on track to leave this spring. I've spoken to my boss already, so he knows this may be coming, but I don't feel like telling anyone else that I'm retiring in my 40’s is the right way to go. I'm fairly young and don't want to alienate my friends and family (my family thinks all millionaires can have their own private planes and limo drivers). I also don’t want to lie.
Here’s my initial thought: Tell my coworkers and employees that I’m leaving the company to go back to school. This wouldn’t be a lie considering there are a bunch of topics I want to learn and many colleges make their courseware available for free.
I may also do some consulting work if the opportunity presents itself, so if asked what I’m doing about income, I could mention that.
I know I probably shouldn’t worry about this as much as I am, but I feel like there’s a stigma with leaving a high-paying job – especially at a young age.
Post by: ixtap on January 03, 2021, 06:36:35 AM
I've seen the topic mentioned a few times, but do you have any recommendations on WHAT to tell your coworkers, employees, boss, friends, and family about leaving your well-paying job?
I'm still on track to leave this spring. I've spoken to my boss already, so he knows this may be coming, but I don't feel like telling anyone else that I'm retiring in my 40’s is the right way to go. I'm fairly young and don't want to alienate my friends and family (my family thinks all millionaires can have their own private planes and limo drivers). I also don’t want to lie.
Here’s my initial thought: Tell my coworkers and employees that I’m leaving the company to go back to school. This wouldn’t be a lie considering there are a bunch of topics I want to learn and many colleges make their courseware available for free.
I may also do some consulting work if the opportunity presents itself, so if asked what I’m doing about income, I could mention that.
I know I probably shouldn’t worry about this as much as I am, but I feel like there’s a stigma with leaving a high-paying job – especially at a young age.
DH has been honest with colleagues about our plans for quite some time. He usually refers to it as an indefinite sabbatical, but as he prepares to start official conversations, he has used the word "retire" a couple of times. He also plans to be upfront about what that means financially, if anyone asks.
It probably helps that he has two former colleagues that visit once in awhile who quit to try other things. One became a public school teacher and one is a metal artist. While our plans don't have any income attached, the quitting bit isn't unheard of.
Post by: sailingTowardsFI on January 03, 2021, 07:36:23 PM
I've seen the topic mentioned a few times, but do you have any recommendations on WHAT to tell your coworkers, employees, boss, friends, and family about leaving your well-paying job?
I'm still on track to leave this spring. I've spoken to my boss already, so he knows this may be coming, but I don't feel like telling anyone else that I'm retiring in my 40’s is the right way to go. I'm fairly young and don't want to alienate my friends and family (my family thinks all millionaires can have their own private planes and limo drivers). I also don’t want to lie.
Here’s my initial thought: Tell my coworkers and employees that I’m leaving the company to go back to school. This wouldn’t be a lie considering there are a bunch of topics I want to learn and many colleges make their courseware available for free.
I may also do some consulting work if the opportunity presents itself, so if asked what I’m doing about income, I could mention that.
I know I probably shouldn’t worry about this as much as I am, but I feel like there’s a stigma with leaving a high-paying job – especially at a young age.
I've been thinking about this lately too - I'm planning to leave ~June, but haven't solidified a date. Absolutely nobody at work has any idea it's coming. I am a manager and feel like it's too soon to tell my boss and subordinates, but I'm quietly trying to put things in a good state for someone else to take over, and will ramp that up over the next few months. I think I'll give 6 weeks notice. I haven't told any friends at work since I think it's too much to ask for them to keep the secret - and it would be terrible if it got out before I get to tell my boss and those that report to me.
Other than trying to leave on good terms and make sure I'm not leaving a mess behind, I'm not too worried about what my non-friend co-workers think about the "why" since I probably won't keep in touch with them. I mainly don't want to leave them with the impression that I'm unhappy with them, so I'll try to make it clear that "it's me, not you". @mindfulrun, do you think you want to stay in touch with yours, or perhaps consult for your company if the opportunity presents? If not, why do you care what they think?
For my family and friends, I'll call it a "sabbatical" or more likely just say I'm taking a break. We have some rental real estate, and I also plan to work a 'fun job' or volunteer in the future, so I can talk about that when asked. Of course, if anyone thinks about it they'll figure out that it's a giant pay cut!
Post by: ScreamingHeadGuy on January 04, 2021, 08:58:45 AM
So far we have 72 folks here who will be FIRE in 2021 and 5 have gone OLY into the 2020 Cohort.
Average age of 2021ers is 44.67 (based on those 55 members who provided an age at FIRE date). 2020 average age was 48.32. 2019 average age was 47.38.
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Okay, now let’s get some confirmations rolling.
Post by: TheContinentalOp on January 04, 2021, 09:05:10 AM
Post by: 12321 on January 04, 2021, 12:32:50 PM
My own consultancy is up and running, but I think I may have retired from full time working for someone else forever.
I'll keep the current date, as it will be my 35th birthday. 1/23/21 here we come!
Post by: dsw on January 04, 2021, 12:47:03 PM
On the other hand, there is a possible change on the horizon which could take my tolerable, but not great job and put it back to properly objectionable. If this happens, there is a chance that I would give notice immediately. So my remaining time in this job is between 1 day to 15 months. It's actually pretty nice to be able to wait patiently for things to develop, especially given all that's happening right now. I remain very fortunate.
Post by: tipster350 on January 04, 2021, 01:48:57 PM
I learned of some good news today, removing my last major concern about pulling the plug on my job. I will be eligible for retiree health coverage, which entitles me to purchase health insurance at group rates. I can stay on it all the way through to Medicare eligibility. It will be very expensive; however, whatever happens with ACA I will have this backup plan. I will have to choose very carefully upon retirement how to go about accessing this coverage or I will lose the window of opportunity.
One of my colleagues mentioned how retirement becomes more appealing with each passing year. This tells me the topic is on their mind. Almost all of the individuals in key positions within my area, SMEs with extremely deep subject matter and institutional knowledge, are in the same general age range of late 50s to early 60s. They've made bank staying with the company through various acquisitions and favorable stock events. The fact that there is a group of people all who have made tons of money and are getting up there comes up in conversation on a fairly regular basis to note how it will be devastating to the organization if they leave. I am never included in the retirement flight risk group because I am a relative newbie and no one has any idea of my circumstances. I give off no clues of having substantial assets. My stealth walk up to the retirement line is going to become fodder for a lot of surprised chatter when I hand in my notice. It is something to look forward to. :) It should be an interesting Spring, because I guess at least 3-4 of us will be retiring at the same time, after bonus season.
Post by: amberfocus on January 04, 2021, 09:48:21 PM
Right now, I'm shooting for Q2 or Q3, with the tentative target being sometime in May (the official end-date might be a month or two later due to accrued PTO). This timeline is based on how long it would take to max out my 401(k) and mega backdoor Roth. The exact timing might also be influenced by the vaccine rollout schedule, since I'd be qualified for an earlier dosing phase if I remained an 'essential worker' as opposed to a member of the general public. The final wildcard would be work's reaction, since they just might have a conniption fit when I give notice (there is almost zero redundancy for my role, so my projects would likely grind to a halt in the short-term). But maybe there won't be drama and I can exit guilt-free.
So, @ScreamingHeadGuy -- please add me to the cohort roster! Age at FIRE will be 36. :)
Post by: LightTripper on January 05, 2021, 04:27:30 AM
Post by: mindfulrun on January 05, 2021, 12:14:18 PM
do you think you want to stay in touch with yours, or perhaps consult for your company if the opportunity presents? If not, why do you care what they think?I think I'll stay in touch with many of them. I've been with this company for almost 20 years and my two reasons for staying have been the money and the people (and I don't need the money any more). I really do owe my boss a lot. He gave me a shot all those years ago and I'm eternally grateful. I also want to leave the door opening for some consulting work (an hour of work would pay for about a day's worth of my budget). The company has also been really great to me and I don't want my employees to think there are problems with the company and they should start looking elsewhere.
I like the "it's me, not you" comment. I just need to tailor that to my situation.
Thanks for the input!
Post by: mindfulrun on January 05, 2021, 12:31:59 PM
Instead of "April", "Spring" is probably more appropriate. I plan on telling my boss in mid-to-late March and offer a 4-6 week transition (I know who will be taking over my spot, and have already started preparing them).
Hopefully I don't chicken out! Thinking about pushing through for another year is unfathomable.
Post by: force majeure on January 05, 2021, 12:39:31 PM
final exit date
I tried before, and they talked me out of it.
Booked a one way flight a week after this, as a disincentive.
Post by: Arbitrage on January 05, 2021, 03:57:46 PM
I'm now planning to ping my manager for a talk in the next week. Stuff's about to get real.
Post by: fireflye on January 05, 2021, 05:55:34 PM
FAANG Engineering Manager here, age 50. I would be happy to join the 2021 list. We just set a target date of 2/1. I'm staying on for one last 401k match and one last stock vest for old times' sake.
Of course, as if on cue, two recruiters landed in my inbox this week with very tempting opportunities, so this may be premature.
Post by: logjammin on January 05, 2021, 07:03:51 PM
It feels so final. And there's such a large part of me that says, your job isn't so bad, imagine how much more money you'll have even with just one more year... even if you don't care that much about money, still, it's significant....
It's weirdly very, very scary.
Post by: dblaace on January 05, 2021, 07:43:34 PM
I'm still on track for my 4/30 date, but I wanted to ask... despite how free and happy I feel on the days I'm not tied to my job, and despite being financially prepared and "knowing" I have the assets to handle this.. surely I'm not the only person scared shitless?
Nope.
Post by: ScreamingHeadGuy on January 05, 2021, 08:28:54 PM
I'm still on track for my 4/30 date, but I wanted to ask... despite how free and happy I feel on the days I'm not tied to my job, and despite being financially prepared and "knowing" I have the assets to handle this.. surely I'm not the only person scared shitless?
Nope.
I'm going to concur on this point - see my 12/31 post where I tried to sort these feelings out.
After my long Christmas vacation today was my first day back to work, and I had the strangest feeling. At the same time I felt like it'd been so long since I'd worked, but it also felt like it was only yesterday I was replying to long email chains and dealing with a client's "urgent" project.
It also seems like there's no way layoffs are coming at my company soon, given how our conference call went today - still I'll throw it out there in a few weeks that I'll be willing to take one "for the team" and see if management nibbles.
One minor bummer - my most recent paycheck was credited to 2020 instead of 2021 (payday should have been 1/1) so I didn't get to make an 83% contribution to my 401(k) last week. If I keep my 3/5 date I might be just shy of maxing-out my contribution for the year.
Welcome aboard @amberfocus @force majeure and @fireflye - three new cohort members in one day.
Post by: exit2019 on January 06, 2021, 12:03:26 AM
I'm still on track for my 4/30 date, but I wanted to ask... despite how free and happy I feel on the days I'm not tied to my job, and despite being financially prepared and "knowing" I have the assets to handle this.. surely I'm not the only person scared shitless?
Not at all. I had a pretty sleepless night last night worrying about it. I actually ended up trying to find evidence of people who FIRE'd more than 5-10 Y ago without pensions, army payments, or real estate - just an equities/bonds portfolio in the middle of the night (since that's what we're doing) before getting back to sleep.
Post by: Much Fishing to Do on January 06, 2021, 10:20:22 AM
I'm still on track for my 4/30 date, but I wanted to ask... despite how free and happy I feel on the days I'm not tied to my job, and despite being financially prepared and "knowing" I have the assets to handle this.. surely I'm not the only person scared shitless?
Not at all. I had a pretty sleepless night last night worrying about it. I actually ended up trying to find evidence of people who FIRE'd more than 5-10 Y ago without pensions, army payments, or real estate - just an equities/bonds portfolio in the middle of the night (since that's what we're doing) before getting back to sleep.
Understandable. The only people I know in my "real life" (not movie/sports stars or people on CNBC or those that I only know by an online handle) that retired before 60 were teachers, military, other govt workers, and people with a working and well earning spouse (those I'd see often retire in their 50s, and my dad always pointed that out growing up...) . The math may work but it would be nice to see a real example somewhere!
Post by: Arbitrage on January 06, 2021, 11:00:49 AM
I'm still on track for my 4/30 date, but I wanted to ask... despite how free and happy I feel on the days I'm not tied to my job, and despite being financially prepared and "knowing" I have the assets to handle this.. surely I'm not the only person scared shitless?
It feels so final. And there's such a large part of me that says, your job isn't so bad, imagine how much more money you'll have even with just one more year... even if you don't care that much about money, still, it's significant....
It's weirdly very, very scary.
I'm not feeling that right now, but I suspect that since I'm planning to work part-time out of the gate, there's no reason for the fear (my part-time work will earn more than our living expenses). If, my employer doesn't take me up on my offer to downshift remotely, we'll see whether the anxiety kicks in. I can imagine that the switch from deposits to withdrawals might be somewhat harrowing.
Post by: goat_music_generator on January 06, 2021, 11:14:37 AM
My spouse will still be working for a couple more years, so I expect the fear will kick in a lot harder once he's actually about to quit.
Right now I'm framing it to myself as "well, I can go back to work if I need to, and we'll know within a couple years whether I do need to... so I can just think of this as myself taking a sabbatical for a while, with the option to make it permanent if things go well."
Post by: 2Birds1Stone on January 06, 2021, 11:33:50 AM
*waves*
I am very active in the 2022 FIRE cohort thread since that is when my projections initially put me after a year of reading here and learning about what I really need to do to FIRE.
Due to some good fortune at work I MIGHT be able to get out a year earlier.
I am posting for motivation in hopes of graduating with you guys and gals :)
Woah woah woah, so much has happened in 4+ years.
I ended up in the 2019 cohort, which exceeded my initial estimates. Spent most of 2020 traveling in Europe but circumstances surrounding Covid brought us back to the USA and jobs for the time being.
Now I'm back on the fence between 2021 and 2020.......
Post by: the_fixer on January 06, 2021, 12:01:20 PM
2020?*waves*
I am very active in the 2022 FIRE cohort thread since that is when my projections initially put me after a year of reading here and learning about what I really need to do to FIRE.
Due to some good fortune at work I MIGHT be able to get out a year earlier.
I am posting for motivation in hopes of graduating with you guys and gals :)
Now I'm back on the fence between 2021 and 2020.......
Can I borrow your time machine :)
Sent from my iPhone using Tapatalk
Post by: 2Birds1Stone on January 06, 2021, 12:19:31 PM
if I had a time machine, the "Return to 2020" setting would be permanently disabled.
I meant 2022 =P
Post by: goat_music_generator on January 06, 2021, 12:20:20 PM
if I had a time machine, the "Return to 2020" setting would be permanently disabled.
LOL! No kidding!
Post by: OmgLmg on January 06, 2021, 03:25:35 PM
I've been experiencing some fear of "what if the plan isn't good enough?" and "what if it turns out I REALLY want something expensive that I need to go back to work to pay for?"
My spouse will still be working for a couple more years, so I expect the fear will kick in a lot harder once he's actually about to quit.
Right now I'm framing it to myself as "well, I can go back to work if I need to, and we'll know within a couple years whether I do need to... so I can just think of this as myself taking a sabbatical for a while, with the option to make it permanent if things go well."
This is almost exactly where I'm at. I was getting really worried and anxious yesterday and I am so glad I thought to come read this thread! Somehow it is comforting to know that all the fear/anxious thoughts are shared by others...
Post by: American GenX on January 06, 2021, 03:59:20 PM
if I had a time machine, the "Return to 2020" setting would be permanently disabled.
LOL! No kidding!
As much as it sucked overall, it was actually the best for my job. On my current job of 20 years, I've always gone into the office 5 days per week, but I got to work from home 5 to 6 straight months this year, and now I'm still working from home 4 days per week. Since I've received my first vaccine dose, I'll probably be working in the office again before long. But on the bright side, I might be FIREing or going part time by summer, which could make 2021 my best year for my career, and hopefully better in most other aspects as well.
Post by: goat_music_generator on January 07, 2021, 06:26:16 AM
if I had a time machine, the "Return to 2020" setting would be permanently disabled.
LOL! No kidding!
As much as it sucked overall, it was actually the best for my job. On my current job of 20 years, I've always gone into the office 5 days per week, but I got to work from home 5 to 6 straight months this year, and now I'm still working from home 4 days per week. Since I've received my first vaccine dose, I'll probably be working in the office again before long. But on the bright side, I might be FIREing or going part time by summer, which could make 2021 my best year for my career, and hopefully better in most other aspects as well.
Nice! As scary as 2020 has been in general and for the world, I have to admit that the ability to work remote has been really good for me as well...
Post by: amberfocus on January 07, 2021, 07:31:35 AM
I'm still on track for my 4/30 date, but I wanted to ask... despite how free and happy I feel on the days I'm not tied to my job, and despite being financially prepared and "knowing" I have the assets to handle this.. surely I'm not the only person scared shitless?
It feels so final. And there's such a large part of me that says, your job isn't so bad, imagine how much more money you'll have even with just one more year... even if you don't care that much about money, still, it's significant....
It's weirdly very, very scary.
You are NOT alone. I've been constantly ping-ponging between ecstatic jubilation and an anxiety puddle, it's practically bipolar. Although I've been working towards this goal for the past 15 years and am thrilled to finally get there, I'm still half-expecting to chicken out, delay/procrastinate, or for something -- anything! -- to go off the rails (including checking the markets every day, which I usually make a point not to do).
Not at all. I had a pretty sleepless night last night worrying about it. I actually ended up trying to find evidence of people who FIRE'd more than 5-10 Y ago without pensions, army payments, or real estate - just an equities/bonds portfolio in the middle of the night (since that's what we're doing) before getting back to sleep.
I'm in a similar situation, where all my assets except for primary residence are paper assets -- there's no rental real estate, no side hustle/business, no pension (except maybe Social Security) -- and a really bloody long way till Medicare in a country with a shitastic healthcare safety net.
My reaction has been far less healthy than yours, though. Instead of seeking positive validation, I've been going on Bogleheads and looking for threads where folks are seeking permission to FIRE, and watching them get inevitably torn down for being too young, too frugal, too ignorant, or not rich enough. I've also been running Monte Carlo simulations with increasingly outrageous parameters just to see how much punishment my stash can('t) take. Apparently, I cope by torturing myself, heh.
I've seen the topic mentioned a few times, but do you have any recommendations on WHAT to tell your coworkers, employees, boss, friends, and family about leaving your well-paying job?
I'm still on track to leave this spring. I've spoken to my boss already, so he knows this may be coming, but I don't feel like telling anyone else that I'm retiring in my 40’s is the right way to go. I'm fairly young and don't want to alienate my friends and family (my family thinks all millionaires can have their own private planes and limo drivers). I also don’t want to lie.
Here’s my initial thought: Tell my coworkers and employees that I’m leaving the company to go back to school. This wouldn’t be a lie considering there are a bunch of topics I want to learn and many colleges make their courseware available for free.
I may also do some consulting work if the opportunity presents itself, so if asked what I’m doing about income, I could mention that.
I know I probably shouldn’t worry about this as much as I am, but I feel like there’s a stigma with leaving a high-paying job – especially at a young age.
I've been thinking about this lately too - I'm planning to leave ~June, but haven't solidified a date. Absolutely nobody at work has any idea it's coming. I am a manager and feel like it's too soon to tell my boss and subordinates, but I'm quietly trying to put things in a good state for someone else to take over, and will ramp that up over the next few months. I think I'll give 6 weeks notice. I haven't told any friends at work since I think it's too much to ask for them to keep the secret - and it would be terrible if it got out before I get to tell my boss and those that report to me.
Other than trying to leave on good terms and make sure I'm not leaving a mess behind, I'm not too worried about what my non-friend co-workers think about the "why" since I probably won't keep in touch with them. I mainly don't want to leave them with the impression that I'm unhappy with them, so I'll try to make it clear that "it's me, not you". @mindfulrun, do you think you want to stay in touch with yours, or perhaps consult for your company if the opportunity presents? If not, why do you care what they think?
I'm struggling with this bit, too. While I have a reputation for being frugal and financially savvy, there is no way folks won't be completely blindsided by an early retirement. And it's not just stigma due to age; it's also being perceived as flighty and undedicated (I anchor a major set of projects and there is no way to extricate gracefully without screwing the team over).
I finally told one of my coworkers (who is a close friend that I trust completely) at the end of last year, after she confided in me that she was frustrated at work and thinking of leaving. She initially thought I also meant leaving as in changing jobs, so I decided to straight up tell her. I was really conflicted because I've never told anyone at work before, but I'm glad that I did, because she was super supportive, and may be able to serve as a valuable sounding board as I navigate this year.
My current plan (subject to change) is to use the cliche that I want to spend more time with family. Maybe it won't be terribly convincing because I don't have (or want) kids, so I was considering also announcing an engagement (although the real reason I'd get married is because I may have to go on SO's health insurance after retirement and possibly lower his taxes, but they don't have to know that the cause-and-effect is reversed, LOL). When asked about income, I'm probably going to say that my SO is still working and we have enough, and just let them draw their own conclusions.
Does it hurt my feminist heart to have people believe that I'm giving up a successful and lucrative career to be with a man? Absolutely. But as galling as it is, I still think it may be safer to lean into that stereotype than to flaunt the truth, and have them believe that I'm somehow lazy or didn't love my job enough, on the off chance that I do need another job or a reference in the future.
Post by: highlandterrier on January 07, 2021, 10:29:22 AM
if I had a time machine, the "Return to 2020" setting would be permanently disabled.
LOL! No kidding!
As much as it sucked overall, it was actually the best for my job. On my current job of 20 years, I've always gone into the office 5 days per week, but I got to work from home 5 to 6 straight months this year, and now I'm still working from home 4 days per week. Since I've received my first vaccine dose, I'll probably be working in the office again before long. But on the bright side, I might be FIREing or going part time by summer, which could make 2021 my best year for my career, and hopefully better in most other aspects as well.
Nice! As scary as 2020 has been in general and for the world, I have to admit that the ability to work remote has been really good for me as well...
Have much preferred remote working, my company is quite risk adverse so we have not had a single day in office since start of March last year. They have also downsized buildings during the pandemic so it will never be anything like full time in the office again. Given my leaving date is July it's touch and go whether I'll ever see the office again. In an ideal world I'd have one day back in office before leaving to remind me what is being left behind, and say goodbye to some great people. 99 working days to go.....
Post by: ALDI on January 07, 2021, 11:29:22 AM
-I never knew how much I was hollowed out by the time the FIRE decision was made for me by my boss who fired me after 14 years. By hollowed out I mean that I crossed the finish line with the last bit of energy. I now see that I was showing all indications of a burn out since 2016/17 but I was in denial all the time. Even though I hired a capable lawyer to help me through the usual lawsuit against my employer, the company HR officer wanted to negotiate my exit directly with me in February. So I had to summon the last energy that I had to lead a negotiation that resulted in a nice but not extravagant severance payment (24 month’s salary). Pls keep in mind that I am located in a country in continental Europe, which means a lot more job security compared to the USA but also much higher marginal tax rates
-between March an July I was decompressing as if my life depended on it. Lots of sleep, healthy diet, a bit of reading, no-stress outdoor activities, catching up with my elderly parents and the rest of the family.
-People tend to tell me I look a bit younger and much more relaxed than before
-i am so happy to have meaningful discussions with the people I do really care for, without the haste of a stressful full time job that makes you think about the gazillions ToDo‘s on your never ending list when you should really listen to your loved ones.
-for the benefit of public health insurance I negotiated a part time job with a company of a friend. 5 hours, per month, not per week. This tiny job keeps me connected to my business field
-I was asked to join other authors to write an expert piece for a book on regulation in my field of business
-I am in an early stage of planning to create a start up company with some friends. I will be an angel investor and part time Managing director if the plan works out.
-I was able to challenge, apply and grow my 35-year long experience in investing in 2020. The weekend after I settled my exit negotiations (late February) my wife and me went groceries shopping. She was bugging me since mid-February if we should not sell some stocks in the face of COVID. I told her that this is not something an intelligent investor should do. During the shopping I witnessed all the hoarding of essential groceries and thought that for once, the sentiment in Europe is quicker than the USA, which were in denial on the economic implications of COVID, giving me a little advantage. I decided to bite that bullet as it was a „once in a lifetime“ market timing opportunity. We sold everything and went 100% cash, trades executed on March 2nd. I was relieved to avoid two thirds of the downturn. But I knew that every market timing decision has two phases, so I mentally prepared for re-entering the market. When the FED signalled „we buy everything“ I started to build up exposure again and finished the re-risking and arrived at the target asset allocation in June. I did not do a exact calculation but I assume that the positive effect is 10-15% compared to not touching the portfolio. I am not sure I would do it again and much less encourage others to try to time the market. Pls also be informed that investing is my field of business and one of my passions. Now I feel relaxed by having > 3 years of expenses in cash and the rest is invested aggressively in equities, no investment grade bonds.
-being financially independent and not having to work full time for the rest of my life is something I tend to keep for myself. In 2020 I tried to explain the concept a few times to people I know and where I felt there is some interest. The feedback is usually not encouraging. The financial illiterate people cannot understand the numbers and the financially more savvy people have deep fears what to do with all the time once that busy full time job is gone. Also, I live in a country where envy is a common sin, so I silently enjoy.
What a year! I can only encourage you to trust your plans and your gut feelings. I wish you all the best for your big year. And thanks to screaming head guy for all the work to keep this cohort motivated.
Post by: goat_music_generator on January 07, 2021, 12:20:10 PM
Does it hurt my feminist heart to have people believe that I'm giving up a successful and lucrative career to be with a man? Absolutely. But as galling as it is, I still think it may be safer to lean into that stereotype than to flaunt the truth, and have them believe that I'm somehow lazy or didn't love my job enough, on the off chance that I do need another job or a reference in the future.
Same!! I really don't want to tell my family about FIRE, and it frustrates me that that's going to be their assumption instead... But I can't control what they think, and better to let them think that I am giving in to their expectations about what to do with my life, rather than get into a mess where they start asking me for money or treating me weirdly...
Post by: American GenX on January 07, 2021, 03:19:33 PM
Post by: Dreamer40 on January 07, 2021, 05:40:09 PM
I didn't plan to retire this early. But you can read my quitting story on the FU money thread (basically: my attorney job has always made me unhappy but was fairly easy to do until recently and my spouse is happy to keep working a few more years on his own). So I put in my notice today. It's a hard-to-wrap-up job so I'm giving them 2 months. This also gives me time to increase my 2021 TSP contributions over the next 2 months...
Covid plus a ton of luck made all this possible. Hubby and I were both working non-remote-friendly jobs in Washington, DC, when the pandemic hit. His industry took a hit so he quickly changed to a mostly-remote company. I convinced my federal office to let me work remotely from Portland, OR. So we sold our rowhouse and moved into a rental on the west coast. A few days after arriving, I accidently found our dream house the day it was listed for sale and we immediately bought it. It was $200,000 less than the house we'd just sold in DC, but it's a million times better-suited for us. And it's a block away from a bunch of our family. Crazy luck. Now that we've been in the house a few months and can project our long term expenses more accurately (and don't have a lot of money tied up in a house in DC anymore), we suddenly realized that I didn't need to keep doing my stressful job. Our cost of living went way down and it's more predictable because we're unlikely to move again anytime soon.
It's been a very strange and stressful 10 months but we're coming out ahead in ways that makes me feel kind of bad when so many people are struggling. But maybe my departure from work will open up a job for a new attorney or someone who really wants that job... And the people we bought the house from were probably thrilled to get a good offer quickly.
Hitting the send button on my resignation email was incredibly scary. But I've always said I wanted to do this. I feel proud of myself for actually following through when the opportunity arose.
Post by: ScreamingHeadGuy on January 07, 2021, 07:38:15 PM
Post by: shuffler on January 07, 2021, 07:53:15 PM
My current plan (subject to change) is to use the cliche that I want to spend more time with family.I'm not sure whether, like me, you're working from home, socially isolating, etc. ... but if so, that's a hilarious line in these pandemic times. I may steal it.
Post by: NoVa on January 07, 2021, 08:53:23 PM
Post by: ixtap on January 07, 2021, 09:33:20 PM
My current plan (subject to change) is to use the cliche that I want to spend more time with family.I'm not sure whether, like me, you're working from home, socially isolating, etc. ... but if so, that's a hilarious line in these pandemic times. I may steal it.
My husband has basically told his manager that this is how he is going to begin his transition to remote working; as soon as we can travel safely, we will start taking long trips to reconnect with family. He is already preparing by trying to learn to work just 40 hours a week.
Post by: Chaplin on January 07, 2021, 09:56:29 PM
I did write a bit more about it my journal:
https://forum.mrmoneymustache.com/journals/chaplin's-little-'stash/msg2763773/#msg2763773
The "more time with family" in pandemic times is pretty funny, but my take on it was a bit different. The people I want to spend time with are here and healthy now! If I wait even five more years my son will likely be out of the house, my parents and in-laws either dead or much declined, and my wife and my own health not as excellent as it is now.
Actual FIRE in late May (yes, a long notice period).
Post by: bownyboy on January 08, 2021, 03:43:30 AM
I was part of the 2020 Cohort and was all set to FIRE on 18th December when my last contract finished. However as we're now in our 3rd lockdown here in the UK with a 'stay at home' order in place; what else can you do?
I've been offered some consultancy work which I'm currently doing and there is the possibility of another 3 month contract which would take me until the (hopefully) end of the current lockdown.
So, I've jumped into this Cohort, final FIRE date tbc, but I really hope that with the vaccination program that is now in affect, we will be able to start travelling again from Easter.
Post by: 2Birds1Stone on January 08, 2021, 06:06:49 AM
That being said, we're still very much on the shoestring/leanFIRE end of the spectrum.
How is everyone dealing with pulling the plug with CAPE10 @ a near record high of 34.5?
Post by: ScreamingHeadGuy on January 09, 2021, 09:34:04 AM
Post by: Arbitrage on January 09, 2021, 02:12:00 PM
I came so close to FU yesterday, But then I waited an hour and, in the end, didn’t. But I do believe I will be including that particular moment in the list of reasons the company may want to pay me to go away (for the good of the company, after all).
I haven't come close to that yet, but I did leverage my FI status; I had the day off, but was aware that my boss was thinking of trying to schedule up a meeting and work on the next draft of a presentation that I put together. I purposely stayed far away from both my work phone and work computer. It would be one thing if there was an actual reason for a deadline, but this project is entirely superfluous and any deadlines are just due to the whims of upper-level management.
Post by: simmias on January 09, 2021, 04:11:45 PM
I came so close to FU yesterday, But then I waited an hour and, in the end, didn’t. But I do believe I will be including that particular moment in the list of reasons the company may want to pay me to go away (for the good of the company, after all).
I'm at the point now where I hope somebody does something at work that makes me want to FU. That would be easier than having to decide how much notice to give, when exactly to give it, how to sufficiently hand off knowledge, what reason to tell them that I'm leaving, how to explain it to my parents, etc.
I think I'm also a little shook by the market's meteoric rise lately. I didn't expect to hit my number (and then some) this soon in the year, but here we are.
The easiest thing would be if they made a decision to end work-from-home, but it doesn't look like that's happening any time soon, thankfully.
First world problems, lol.
Post by: goat_music_generator on January 09, 2021, 06:19:19 PM
I think I'm going to put it off till next Tuesday though (we have Monday off), because I have a regular 1:1 with my boss that day. Easier than doing the whole... schedule a same-day meeting with no explanation... thing.
And that makes it easier for 2 weeks' notice to be a couple days into February, which lets me keep health insurance the rest of the month.
Still have no idea what on earth I'll tell my family. Some of them would get it, but I can't really trust them not to spill the beans to those who would not. I think that's making this feel even more unreal, all the secrecy around it. I've chatted with a number of friends about it online, but almost every time we talk to someone in person, my spouse and I just pretend it's not happening at all. Makes it feel as though it's just something I made up that I'll forget about soon.
I found myself thinking the other day, "Gosh! I'm up to nearly 5 weeks' vacation at this job. I shouldn't quit now!" Yeah, that's way better than 52 weeks vacation, brain. Thanks.
Post by: Mrs. Healthywealth on January 11, 2021, 08:07:42 AM
I've seen the topic mentioned a few times, but do you have any recommendations on WHAT to tell your coworkers, employees, boss, friends, and family about leaving your well-paying job?
I'm still on track to leave this spring. I've spoken to my boss already, so he knows this may be coming, but I don't feel like telling anyone else that I'm retiring in my 40’s is the right way to go. I'm fairly young and don't want to alienate my friends and family (my family thinks all millionaires can have their own private planes and limo drivers). I also don’t want to lie.
Here’s my initial thought: Tell my coworkers and employees that I’m leaving the company to go back to school. This wouldn’t be a lie considering there are a bunch of topics I want to learn and many colleges make their courseware available for free.
I may also do some consulting work if the opportunity presents itself, so if asked what I’m doing about income, I could mention that.
I know I probably shouldn’t worry about this as much as I am, but I feel like there’s a stigma with leaving a high-paying job – especially at a young age.
Go with what you feel the most comfortable with. How much do you truly want to share? Check your gut on this, feel it out when you talk to people and then decide who you share what with. It makes why you feel the way you do; people have wild imaginations when they hear about young people retiring or quitting their job and lots of folks like to give their input. Will be curious what you decide.
Post by: Mrs. Healthywealth on January 11, 2021, 08:22:07 AM
I'm still on track for my 4/30 date, but I wanted to ask... despite how free and happy I feel on the days I'm not tied to my job, and despite being financially prepared and "knowing" I have the assets to handle this.. surely I'm not the only person scared shitless?
It feels so final. And there's such a large part of me that says, your job isn't so bad, imagine how much more money you'll have even with just one more year... even if you don't care that much about money, still, it's significant....
It's weirdly very, very scary.
+1
Totally scared shitless. Even posted our numbers to see if this can really happen, which I’ve already ran thru multiple spreadsheets that say we are fine. But it’s scary. Plus I really love the folks I work with and am concerned it’ll be a mistake to leave. For now I’ve started therapy to work out the thoughts and I’ll take the summer off and see if I return. Things like attending meetings no longer appeal to me, and I keep reading that folks wish they had retired sooner, so as much as I talk myself out of FIRE this year I’m going to take the leap of faith.
Been enjoying reading other’s experiences.
Post by: LightTripper on January 12, 2021, 06:43:22 AM
Hey folks, as the first person on the list of the 2021 cohort (FIREd & fired and hence OLYd on 23 Jan 2020) I feel obliged to give some feedback on how this last year went to maybe give you some motivation to pursue your own path to happiness:
...
What a year! I can only encourage you to trust your plans and your gut feelings. I wish you all the best for your big year. And thanks to screaming head guy for all the work to keep this cohort motivated.
Thank you for sharing your story! Definitely helpful to have motivation from those ahead of us on the path. I sometimes wish the decision would be made for me by being fired, but I'm sure I wouldn't enjoy it if it actually happened!
I also was happy to hear your market timing story. Very ballsy - glad it worked out for you! I think the bravest/trickiest part is often not selling back out, but getting back in in time: sounds like you managed that pretty well.
Post by: exit2019 on January 12, 2021, 10:12:46 PM
So it goes.
Post by: FarFetchd on January 13, 2021, 11:02:40 AM
https://earlyretirementnow.com/2021/01/13/one-more-year-swr-series-part-42 (https://earlyretirementnow.com/2021/01/13/one-more-year-swr-series-part-42)
I'll also extract a certain few quotes. I'm a bit of a broken record about this, but the central point of the series is that the 4% rule isn't safe, and this particular article very bluntly reiterates that:
"at a CAPE>20 [the 4% rule with a 30-year horizon and 25% value final target] fails 18.8% of the time"
...
"Most of the failures of the 4% Rule are clustered during the times of very expensive equity valuations [at the start of retirement]."
...
"with today’s CAPE north of 30 and an implied historical failure probability of 18.8%, it seems like a no-brainer to reduce the withdrawal rate to less than 4%."
Put another way, if you're targeting a particular dollar amount for your stash, hitting that amount during a bad correction/crash is more trustworthy than hitting it during a dizzying runup.
The last few months before pulling the trigger are of course the most painful possible time to consider this, but I think it's very much a better late than never situation, and I'm concerned that the danger is particularly present right around now. I'm not demanding everyone to get down to 3%, I just want to make sure everyone has a decently accurate picture of risk across the SWR landscape, so that they can make the right decision for their circumstances/preferences. If you really cannot stand more than a couple more months, go for it even at 4%, but try to treat it as a sabbatical - the risk of failure is too high to dismiss as a possible but unlikely catastrophe.
Finally (and this is extremely broken-record of me), if you're using CAPE-based variable withdrawals (https://earlyretirementnow.com/2017/08/30/the-ultimate-guide-to-safe-withdrawal-rates-part-18-flexibility-cape-based-rules/ (https://earlyretirementnow.com/2017/08/30/the-ultimate-guide-to-safe-withdrawal-rates-part-18-flexibility-cape-based-rules/)) this is no longer a concern; your "when can I retire" dollar target will move appropriately with the market.
Post by: tipster350 on January 13, 2021, 01:20:11 PM
I thought I'd point out the article ERN posted today, about One More Year. I extremely recommend the SWR series this article is a part of, and this one is now particularly relevant to this thread. It's a good one - there's the typical ERN analysis and tables, but there's also a nice little MMM-esque part at the end about not getting too caught up in overpreparing, to balance the rest out.
https://earlyretirementnow.com/2021/01/13/one-more-year-swr-series-part-42 (https://earlyretirementnow.com/2021/01/13/one-more-year-swr-series-part-42)
I'll also extract a certain few quotes. I'm a bit of a broken record about this, but the central point of the series is that the 4% rule isn't safe, and this particular article very bluntly reiterates that:
"at a CAPE>20 [the 4% rule with a 30-year horizon and 25% value final target] fails 18.8% of the time"
...
"Most of the failures of the 4% Rule are clustered during the times of very expensive equity valuations [at the start of retirement]."
...
"with today’s CAPE north of 30 and an implied historical failure probability of 18.8%, it seems like a no-brainer to reduce the withdrawal rate to less than 4%."
Put another way, if you're targeting a particular dollar amount for your stash, hitting that amount during a bad correction/crash is more trustworthy than hitting it during a dizzying runup.
The last few months before pulling the trigger are of course the most painful possible time to consider this, but I think it's very much a better late than never situation, and I'm concerned that the danger is particularly present right around now. I'm not demanding everyone to get down to 3%, I just want to make sure everyone has a decently accurate picture of risk across the SWR landscape, so that they can make the right decision for their circumstances/preferences. If you really cannot stand more than a couple more months, go for it even at 4%, but try to treat it as a sabbatical - the risk of failure is too high to dismiss as a possible but unlikely catastrophe.
Finally (and this is extremely broken-record of me), if you're using CAPE-based variable withdrawals (https://earlyretirementnow.com/2017/08/30/the-ultimate-guide-to-safe-withdrawal-rates-part-18-flexibility-cape-based-rules/ (https://earlyretirementnow.com/2017/08/30/the-ultimate-guide-to-safe-withdrawal-rates-part-18-flexibility-cape-based-rules/)) this is no longer a concern; your "when can I retire" dollar target will move appropriately with the market.
All good points. We probably will see a pullback in the market sometime soon.
I prepared by having enough cash/equivalents to last a couple of years and ensuring that my number includes budget wiggle room if I need to reduce the amount I withdraw in the long term.
The key is to have wiggle room (and if that results in OMY, so be it) and cash on hand if the market craters at the beginning of RE.
Post by: American GenX on January 13, 2021, 03:33:51 PM
Bengen later changed it to the 4 1/2% rule.
https://forum.mrmoneymustache.com/investor-alley/stop-worrying-about-the-4-rule/msg2561603/#msg2561603
and more recently 5%
https://www.marketwatch.com/story/the-inventor-of-the-4-rule-just-changed-it-11603380557
Good thread about the 4% rule:
https://forum.mrmoneymustache.com/investor-alley/stop-worrying-about-the-4-rule/
I don't target 25% to leave to heirs.
Post by: Ladychips on January 13, 2021, 03:36:29 PM
I know everyone worries about having enough money...but I worry about having enough time. How many people do we know who have a terminal cancer diagnosis? Or who had a stroke and now has no quality of life? Or who had a car accident that cost them their life? Or any other tragic or debilitating occurrence that made someone realize they had plenty of fucking money...but not nearly enough time???
Of course I want people to make good decisions based on facts, but if a pandemic year taught me anything, it's that I don't really need that much money...what I really want is time. I hope no one sees your post and thinks "I better work one more year".
Post by: BikeFanatic on January 13, 2021, 04:26:11 PM
I get a every other week mini review and then the big boss also does a monthly 1:1 and I just couldnt take another one. My Boss scheduled the 1:1 on December 15 ( I postponed as I was on Vacation, we postponed to December 21, and I gave my 2 weeks notice that morning. She was surprised but very nice about it. I said I was retiring, and may seek part time work in the future. My hope is though, that this is it, and I never have to go back to work ever!
It has been a week and I do feel such relief to have time to exercise and to catch up on my projects. I feel like I am on staycation really, no big plans. my withdrawal rate is 4-4.5% with a cash cushion that is not included in the stash total.
Post by: dblaace on January 13, 2021, 04:37:09 PM
@FarFetchd let me start with an apology...because your post really pushed my buttons.This is something I have to keep in mind. Numbers say I can last till 100. I'll be lucky to make 80 and anything can happen before then.
I know everyone worries about having enough money...but I worry about having enough time. How many people do we know who have a terminal cancer diagnosis? Or who had a stroke and now has no quality of life? Or who had a car accident that cost them their life? Or any other tragic or debilitating occurrence that made someone realize they had plenty of fucking money...but not nearly enough time???
Of course I want people to make good decisions based on facts, but if a pandemic year taught me anything, it's that I don't really need that much money...what I really want is time. I hope no one sees your post and thinks "I better work one more year".
Post by: ScreamingHeadGuy on January 13, 2021, 05:32:32 PM
I am older member of the 2021 Cohort, I retired at 55 on January 4TH 2021 ( hooray for me!) . I was doing OMY, just because of unexpected expenses that my spouse wanted and she is putting in OMY also. I just could not make it to OMY I did like 6 months.
I get a every other week mini review and then the big boss also does a monthly 1:1 and I just couldnt take another one. My Boss scheduled the 1:1 on December 15 ( I postponed as I was on Vacation, we postponed to December 21, and I gave my 2 weeks notice that morning. She was surprised but very nice about it. I said I was retiring, and may seek part time work in the future. My hope is though, that this is it, and I never have to go back to work ever!
It has been a week and I do feel such relief to have time to exercise and to catch up on my projects. I feel like I am on staycation really, no big plans. my withdrawal rate is 4-4.5% with a cash cushion that is not included in the stash total.
This is awesome! Way to go @BikeFanatic.
Post by: ScreamingHeadGuy on January 13, 2021, 05:37:20 PM
So far we have 74 folks here who will be FIRE in 2021 and 5 have gone OLY into the 2020 Cohort.
Average age of 2021ers is 44.97 (based on those 57 members who provided an age at FIRE date). 2020 average age was 48.32. 2019 average age was 47.38.
|
Post by: crazy jane on January 13, 2021, 05:49:51 PM
Post by: MoStash on January 13, 2021, 06:19:37 PM
I'm not OMY, but I've pushed back my date a few months. Maybe July 1? I am taking off every Tuesday and Thursday now. It's irking my boss, but I have a lot of PTO and we keep canceling our planned trips due to covid. I've told everyone "I don't care to work two days in a row any more". Some are amused, some are not.
Post by: crazy jane on January 13, 2021, 07:45:20 PM
Post by: Chaplin on January 13, 2021, 09:47:41 PM
Please check the chart over and offer any corrections or updates you have. The roster is updated for everybody through post #755.
I have given my notice; my last day is June 4. Yes, long notice, because reasons.
Post by: Norsky on January 13, 2021, 10:45:38 PM
Post by: CarolinaGirl on January 14, 2021, 06:26:23 AM
I lost 5 family members in 11 months during 2018-2019. Two were in their 60’s and 1 was in her 20’s. It just made me think about how pissed off I’d be if I’d been frugal my whole life and never got to really make any of my big dreams come true by the time I died. My Mom’s constant regret is that she didn’t let my Dad buy a new(er) vehicle. They had plenty of money to cover life in retirement and both had good jobs, but she was always worried about the future. The brain tumor took him in under 15 months. Same with my biological father. YOLO!
Post by: the_fixer on January 14, 2021, 07:32:28 AM
I thought I'd point out the article ERN posted today, about One More Year. I extremely recommend the SWR series this article is a part of, and this one is now particularly relevant to this thread. It's a good one - there's the typical ERN analysis and tables, but there's also a nice little MMM-esque part at the end about not getting too caught up in overpreparing, to balance the rest out.I would highly recommend taking a look at this tool created by one of the forum members
https://earlyretirementnow.com/2021/01/13/one-more-year-swr-series-part-42 (https://earlyretirementnow.com/2021/01/13/one-more-year-swr-series-part-42)
I'll also extract a certain few quotes. I'm a bit of a broken record about this, but the central point of the series is that the 4% rule isn't safe, and this particular article very bluntly reiterates that:
"at a CAPE>20 [the 4% rule with a 30-year horizon and 25% value final target] fails 18.8% of the time"
...
"Most of the failures of the 4% Rule are clustered during the times of very expensive equity valuations [at the start of retirement]."
...
"with today’s CAPE north of 30 and an implied historical failure probability of 18.8%, it seems like a no-brainer to reduce the withdrawal rate to less than 4%."
Put another way, if you're targeting a particular dollar amount for your stash, hitting that amount during a bad correction/crash is more trustworthy than hitting it during a dizzying runup.
The last few months before pulling the trigger are of course the most painful possible time to consider this, but I think it's very much a better late than never situation, and I'm concerned that the danger is particularly present right around now. I'm not demanding everyone to get down to 3%, I just want to make sure everyone has a decently accurate picture of risk across the SWR landscape, so that they can make the right decision for their circumstances/preferences. If you really cannot stand more than a couple more months, go for it even at 4%, but try to treat it as a sabbatical - the risk of failure is too high to dismiss as a possible but unlikely catastrophe.
Finally (and this is extremely broken-record of me), if you're using CAPE-based variable withdrawals (https://earlyretirementnow.com/2017/08/30/the-ultimate-guide-to-safe-withdrawal-rates-part-18-flexibility-cape-based-rules/ (https://earlyretirementnow.com/2017/08/30/the-ultimate-guide-to-safe-withdrawal-rates-part-18-flexibility-cape-based-rules/)) this is no longer a concern; your "when can I retire" dollar target will move appropriately with the market.
Rich, Broke or Dead
https://engaging-data.com/will-money-last-retire-early/
It is eye opening and helped me realize my fears of running out of money were irrational and I have a much larger risk of dying than going broke.
For example @ 80 years old with a 4% withdrawal rate I have a
50% chance I will be DEAD
2.5% chance of being BROKE
And that is without factoring in Social security if I add social security it shows 0% chance that I go broke.
If you want to talk statistics and risk make sure you are looking at all factors.
Sent from my iPhone using Tapatalk
Post by: FarFetchd on January 14, 2021, 06:17:49 PM
@FarFetchd let me start with an apology...because your post really pushed my buttons.
I know everyone worries about having enough money...but I worry about having enough time. How many people do we know who have a terminal cancer diagnosis? Or who had a stroke and now has no quality of life? Or who had a car accident that cost them their life? Or any other tragic or debilitating occurrence that made someone realize they had plenty of fucking money...but not nearly enough time???
Of course I want people to make good decisions based on facts, but if a pandemic year taught me anything, it's that I don't really need that much money...what I really want is time. I hope no one sees your post and thinks "I better work one more year".
That's pretty much the sentiment of the article's last couple of paragraphs. It's an important counterweight to keep in mind. I wouldn't want people to get into sad, unnecessary OMY spirals, and in fact I myself am probably going to quit traditional work with a bit less than I'm 100% comfortable with. I just see the MMM-verse as tending to be more cavalier than I think is responsible.
Some of that is just fundamental philosophical differences on accepting risk, but I think also people are getting a false sense of security from looking at a risk landscape that isn't real, i.e. taking the Trinity study as relevant to young-ish FIRE people. I don't want to write a whole essay here, so I'll just point out the fact that always really jumped out at me: Trinity defines ending a 30-year period with $1 as a success.
FIRE is a huge life change that needs to be very carefully considered. As an econ PhD who worked in finance and followed through on retiring early, ERN is pretty much the best equipped person possible to do that analysis. He concludes that the 4% rule has issues, despite trying all sorts of angles to "make it work". Planning for 4% withdrawals is still a viable way to go about the FIRE thing, but you have to either consciously decide that you're ok with the drawdowns/failure probabilities he computes, find a legitimate flaw in his reasoning, or a special circumstance that makes it not applicable to your situation. The series is so overwhelmingly thorough about trying to make 4% work that I really see going with 4% without fully digesting it as a shortfall of due diligence.
I would highly recommend taking a look at this tool created by one of the forum members
Rich, Broke or Dead
https://engaging-data.com/will-money-last-retire-early/
...
Yeah, that is indeed a great visualization; another good counterweight to getting too fixated on the financial side. The dead vs broke probabilities aren't the whole story, though. One interesting feature of SWR math is that a path that's ultimately going to be safe can be pretty terrifying while it's happening. The bal<start area is a spectrum of those scenarios, from absolutely nothing to worry about, to panicking over your net worth leaving the "nonzero commas club" (when the chart has any "broke" area nearby). Since nobody would let themselves approach going literally broke without taking some sort of measures, in reality the broke area smears together with some portion of the bal<start area.
Post by: exit2019 on January 14, 2021, 09:36:15 PM
I would highly recommend taking a look at this tool created by one of the forum members
Rich, Broke or Dead
https://engaging-data.com/will-money-last-retire-early/
It is eye opening and helped me realize my fears of running out of money were irrational and I have a much larger risk of dying than going broke.
The engaging-data site is full of really nice visualizations and I like this one, however you're mixing different things. The correct way to view this is "I have a %x chance of running out of money in my lifetime." The dead part doesn't actually matter, because dead you doesn't run out of money.
Also, this visualization doesn't address longevity risk which comes mostly from three things - your current health and habits, your genetics (how long did your family live?) and the (risk of) technological improvements in general to geriatric medicine.
As with everything else, you don't live an average of timelines, you just live yours. So if your family tends to live a long time, you need to assume you'll live a long time, even if that visualization indicates that the average person dies before 85.
30-40 years is a long time and there's plenty of time for very substantial improvements that might result in buying you another ten or 20 years of good health. I don't know about you, but while the temptation is there to day "yeah, well, if future me finds themselves out of money, they can always suicide, they'll have lived a long life" (or whatever) but the reality is future you will not appreciate "odds were that you'd be dead." Cold comfort.
Your mileage may vary and risk tolerances are, obviously, an individual thing.
Post by: exit2019 on January 14, 2021, 10:27:50 PM
Finally (and this is extremely broken-record of me), if you're using CAPE-based variable withdrawals (https://earlyretirementnow.com/2017/08/30/the-ultimate-guide-to-safe-withdrawal-rates-part-18-flexibility-cape-based-rules/ (https://earlyretirementnow.com/2017/08/30/the-ultimate-guide-to-safe-withdrawal-rates-part-18-flexibility-cape-based-rules/)) this is no longer a concern; your "when can I retire" dollar target will move appropriately with the market.
This was one of ERN's better posts in recent times, thanks for posting it. I've read his whole series but hadn't seen the new posting.
Correct on the primary value of a CAPE10-based withdrawal: if you commit to using a CAPE-derived WR (e.g., a=1.0%, b=0.5, CAPE10=34.50, resulting_WR=2.45%) then it's easy to make your number [ spend/(1.0% + 0.5/34.50) ] dynamic and use it to guide your timing; the real value there is de-correlates retirement start dates from market peaks.
Post by: American GenX on January 15, 2021, 09:43:37 AM
I thought I'd point out the article ERN posted today, about One More Year. I extremely recommend the SWR series this article is a part of, and this one is now particularly relevant to this thread. It's a good one - there's the typical ERN analysis and tables, but there's also a nice little MMM-esque part at the end about not getting too caught up in overpreparing, to balance the rest out.I would highly recommend taking a look at this tool created by one of the forum members
https://earlyretirementnow.com/2021/01/13/one-more-year-swr-series-part-42 (https://earlyretirementnow.com/2021/01/13/one-more-year-swr-series-part-42)
I'll also extract a certain few quotes. I'm a bit of a broken record about this, but the central point of the series is that the 4% rule isn't safe, and this particular article very bluntly reiterates that:
"at a CAPE>20 [the 4% rule with a 30-year horizon and 25% value final target] fails 18.8% of the time"
...
"Most of the failures of the 4% Rule are clustered during the times of very expensive equity valuations [at the start of retirement]."
...
"with today’s CAPE north of 30 and an implied historical failure probability of 18.8%, it seems like a no-brainer to reduce the withdrawal rate to less than 4%."
Put another way, if you're targeting a particular dollar amount for your stash, hitting that amount during a bad correction/crash is more trustworthy than hitting it during a dizzying runup.
The last few months before pulling the trigger are of course the most painful possible time to consider this, but I think it's very much a better late than never situation, and I'm concerned that the danger is particularly present right around now. I'm not demanding everyone to get down to 3%, I just want to make sure everyone has a decently accurate picture of risk across the SWR landscape, so that they can make the right decision for their circumstances/preferences. If you really cannot stand more than a couple more months, go for it even at 4%, but try to treat it as a sabbatical - the risk of failure is too high to dismiss as a possible but unlikely catastrophe.
Finally (and this is extremely broken-record of me), if you're using CAPE-based variable withdrawals (https://earlyretirementnow.com/2017/08/30/the-ultimate-guide-to-safe-withdrawal-rates-part-18-flexibility-cape-based-rules/ (https://earlyretirementnow.com/2017/08/30/the-ultimate-guide-to-safe-withdrawal-rates-part-18-flexibility-cape-based-rules/)) this is no longer a concern; your "when can I retire" dollar target will move appropriately with the market.
Rich, Broke or Dead
https://engaging-data.com/will-money-last-retire-early/
It is eye opening and helped me realize my fears of running out of money were irrational and I have a much larger risk of dying than going broke.
For example @ 80 years old with a 4% withdrawal rate I have a
50% chance I will be DEAD
2.5% chance of being BROKE
And that is without factoring in Social security if I add social security it shows 0% chance that I go broke.
If you want to talk statistics and risk make sure you are looking at all factors.
Indeed that's a good one that I played around with some in the past. It could help wake up some people that aren't looking at risks other than financial. No one should assume they will live to 90+ years old just because they had parents or grandparents that did.
Post by: phildonnia on January 15, 2021, 10:33:39 AM
In 2022, we can start selling stuff in our taxable investments, and come in under the 0% capital gains bracket. But until then, the trick is going to be living off my bank account (about $50k) and DW's part-time take-home pay until the end of 2021.
I know, it's totally doable, and consistent with our past spending. But a little weird all the same.
Post by: Dreamer40 on January 15, 2021, 03:09:00 PM
With four and a half months to go, I'm going to get a little practice living with no wage income. I turned up my Roth 401(k) to the absolute maximum, and according to my first paycheck of the year, I'm now taking home... $42 per month.
I'm doing the same until my end date in March. It feels very strange! But makes sense.
I submitted my resignation a little over a week ago and now word is out around my office. Makes it feel very real. I have short moments of panic because we fear change, but I'm mostly relieved and excited. I have a lot of jealous coworkers who also wish they could quit. So the conversations are kind of awkward. It's easier to let them believe I'm just taking a break before starting another unspecified career in a new city.
The local gardening store down the street announced that they were hiring and my gut reaction was to consider applying because it's a neat place. One of the job requirements is to like bluegrass music or be able to fake it convincingly. But I haven't even wrapped up my current job! It's a weird impulse to always be thinking about work. I'm not opposed to working interesting jobs in the future, but I need to learn how to chill out.
Post by: Ladychips on January 15, 2021, 04:18:59 PM
The local gardening store down the street announced that they were hiring and my gut reaction was to consider applying because it's a neat place. One of the job requirements is to like bluegrass music or be able to fake it convincingly.
I have no interest in working after I retire...but that job sounds lovely!
Post by: ixtap on January 15, 2021, 04:29:52 PM
The local gardening store down the street announced that they were hiring and my gut reaction was to consider applying because it's a neat place. One of the job requirements is to like bluegrass music or be able to fake it convincingly.
I have no interest in working after I retire...but that job sounds lovely!
I don't even like gardening and now I want that job :)
Post by: ScreamingHeadGuy on January 15, 2021, 07:27:10 PM
Glad to have you aboard @crazy jane and @Norsky - you're now on "the list".
Post by: PhrugalPhan on January 15, 2021, 07:39:21 PM
@phildonnia and @Dreamer40 - I tried to zero out my paycheck, too, but couldn't enter a fractional percent so I'm stuck getting $40-some per paycheck. :-(As a two year out person that plans on doing the same, I am surprised they won't allow you to put in a higher percentage and just put in to your retirement account what's available - giving you a $0 paycheck. Hopefully I won't have the same problem you are having.
Post by: MoneyTree on January 18, 2021, 10:18:33 AM
@phildonnia and @Dreamer40 - I tried to zero out my paycheck, too, but couldn't enter a fractional percent so I'm stuck getting $40-some per paycheck. :-(As a two year out person that plans on doing the same, I am surprised they won't allow you to put in a higher percentage and just put in to your retirement account what's available - giving you a $0 paycheck. Hopefully I won't have the same problem you are having.
Alas, sometimes the HR/Payroll system has limits to ensure the employee isn't doing something out of their minds like contributing more than 90% of their income to their 401K. No one in their right mind would intentionally want to do that, right?
I'm doing the same, and I got a chuckle out of my most recent payroll direct deposit for a grand total of $242
Post by: the_fixer on January 18, 2021, 11:17:18 AM
You can change me to be TBD on date and age.
We reached FI last year and everything is on track financially but my plan was to travel and I do not feel comfortable at this point traveling with the Covid situation.
I would switch to the 2021 group but the reality is that my work situation is crazy so I could just decide to part way at any moment.
So I could go anytime between now and sometime in 2021 all depends on how the covid situation evolves and what happens at my work.
Sent from my iPhone using Tapatalk
Post by: phildonnia on January 19, 2021, 11:30:07 AM
Alas, sometimes the HR/Payroll system has limits to ensure the employee isn't doing something out of their minds like contributing more than 90% of their income to their 401K. No one in their right mind would intentionally want to do that, right?
Once in the past, I did get a courtesy e-mail from HR telling me that I had requested a 75% deduction, when they thought I probably meant 7.5%.
Post by: goat_music_generator on January 19, 2021, 03:36:16 PM
Post by: Arbitrage on January 19, 2021, 03:56:07 PM
Just gave notice. My last day will be 2/2/2021.
Congrats!
I actually just gave "notice" as well, but my notice was 6 months out without a definitive end date, as I'm trying to to request accommodations to be fully remote and downshift from full-time to part-time. Nevertheless, it was still a pretty big conversation to have, telling my boss that I'm moving away and won't work full-time. If they don't accommodate, I'll just be leaving.
Post by: goat_music_generator on January 19, 2021, 04:43:48 PM
Just gave notice. My last day will be 2/2/2021.
Congrats!
I actually just gave "notice" as well, but my notice was 6 months out without a definitive end date, as I'm trying to to request accommodations to be fully remote and downshift from full-time to part-time. Nevertheless, it was still a pretty big conversation to have, telling my boss that I'm moving away and won't work full-time. If they don't accommodate, I'll just be leaving.
Congrats to you too, on getting all that out in the open! Hope it works out. So great to be able to say, "I'm doing this, so if that doesn't work for you, see ya!"
Post by: ItalianGirl on January 19, 2021, 05:54:09 PM
My updated data is that I'll be 52 this year. My status will be 6/1/2021 Still owner of business but not working it? Classify that as you wish!
Hubs will be fully retired 4/1
So excited!!
Post by: Ladychips on January 19, 2021, 07:42:10 PM
Post by: ScreamingHeadGuy on January 20, 2021, 05:52:13 AM
Just gave notice. My last day will be 2/2/2021.
Way to go(at)!
Post by: shuffler on January 20, 2021, 09:48:37 AM
(I know practices around severance vary by country and industry. FWIW, I'm speaking from a USA / Software perspective, in which I believe severance to be uncommon apart from major layoff events.)
(I'm also *not* talking about the approach of doing minimal work for months or years until you goad your employer into laying you off. Personally, I find that distasteful.)
I'm thinking of working through the end of February to secure a last round of stock.
I thought I'd then tell my manager of a general sense of dissatisfaction, and suggest I'd be a candidate for future layoff/RIF if there's anything upcoming.
If that doesn't work, I figured I'd offer to stay on longer than a short notice period, in exchange for negotiating severance. I think I might be willing to stay on as much as ~6 additional months, into September.
If I'm able to get to negotiations, I thought I'd ask for: accelerated vesting of further stock, payout for years served (involuntary layoffs have previously received 2wks pay / 1 year served), and healthcare coverage through the end of the year.
Anyone thinking similar?
Have any suggestions for making it work?
I'm aware of the FS book about engineering your layoff. Reviews I've seen say it's not terribly worth the price.
Post by: JoJo on January 20, 2021, 02:31:18 PM
Sharing my unsuccessful layoff story.
My company did a voluntary layoff on the guise of "early retirement" late last year. It was only offered to age 55+. I called HR to inquire but was told if they offered it to some people below age 55, it would be unfair to others.
A large portion of those eligible ended up taking it so the chances they extend the offer or need to do additional layoffs is probably low.
Post by: shuffler on January 20, 2021, 03:29:13 PM
Sharing my unsuccessful layoff story.Bummer that their offer isn't being extended to you.
Any thoughts to try to arrange/negotiate one for yourself anyway, independent of their broader offer to the older employees?
I'm not giving a large chance of success to my own efforts, but I figure it's worth a try as part of the discussion around leaving.
Post by: Sciurus on January 20, 2021, 04:57:43 PM
I guess this is me now. I just gave notice to my team this week that my last day will be January 8th. 2020 had so many unknowns that I could never really pick out a date until the very end here. We blew past our target numbers in 2020 and I was just grinding it out for fear of the unknown.
I am looking forward to spending even more time with my young children, now without the ever lurking specter of work projects hanging ever present in my mind.
Hasn't fully sunk in yet, but no regrets :)
I am stopping by to confirm that my last day was in fact January 8th. Retired at 33 years old. Still keeping busy watching my 3 children all under 4 years old.
The last few weeks of work were rough. I had too many projects and too many tasks that I needed to pass off/train/write up guides for others to follow in my footsteps. But that is all in the rear view now.
The biggest change so far is that I can feel 20-25% of my brain just not dedicated to thinking about work, planning around work, preparing for the next day etc. It is wonderful to feel that extra mental capacity freeing up :)
Post by: dividendman on January 20, 2021, 05:07:01 PM
I guess this is me now. I just gave notice to my team this week that my last day will be January 8th. 2020 had so many unknowns that I could never really pick out a date until the very end here. We blew past our target numbers in 2020 and I was just grinding it out for fear of the unknown.
I am looking forward to spending even more time with my young children, now without the ever lurking specter of work projects hanging ever present in my mind.
Hasn't fully sunk in yet, but no regrets :)
I am stopping by to confirm that my last day was in fact January 8th. Retired at 33 years old. Still keeping busy watching my 3 children all under 4 years old.
The last few weeks of work were rough. I had too many projects and too many tasks that I needed to pass off/train/write up guides for others to follow in my footsteps. But that is all in the rear view now.
The biggest change so far is that I can feel 20-25% of my brain just not dedicated to thinking about work, planning around work, preparing for the next day etc. It is wonderful to feel that extra mental capacity freeing up :)
Congrats!
I'll be joining you soon.
Post by: exit2019 on January 20, 2021, 06:20:30 PM
Anybody thinking of angling for a severance package?
I've done this several times. It isn't that different from what happens when you resign - you have a compelling event (employee who is exiting). Doing something with this event is the trick.
The real problem you will run into is that people like to think in periods of years.
Depending on your level and criticality, you could probably go, right now, and get a 1Y retention package by making it really clear you are going to leave. Strategically, "I have another option I'm thinking of pursuing" is better than "I'm retiring" even if "I don't need the money" might seem like a better argument (it's not). That's easy. Given that, for some amount of effort, your management chain can arrange package if they're going to do anything.
However, it's a lot harder to do something like a "severance" package or a < 1Y package. The reason for this is that for anything special or out of the norm, the verbiage matters a lot, your boss is either themselves able to green light the package himself (e.g., an EVP) or may need to actually get sign-off by an SVP, EVP or some chain. There is annoyance friction at each layer. The right nomenclature matters (retention vs severance) but either way, none of those people are really going to want to put in work for "only {3|6} months."
As an aside, asking for a cash equivalent to what would _otherwise be_ stock vesting acceleration is actually a superior framing device.It's a pain in the neck to modify vesting schedules, etc., on an individual basis. The only reason this is possible for layoffs is that it's a mass action and the effort is delegated and amortized. But using it as a framing device is probably OK, just make sure you are clear about that because otherwise you risk being classified as some crazy.
I'm actually going through this right now.
Btw, I agree with you that the Financial Samurai "Engineering Your Layoff" book is probably trash. I have a lot of experience and have spent a ton of time dealing with layoffs, EVPs, CEOs, SVPs, and so on. I think most of what he writes about how business culture works is bafflingly naive if not straight up fan fiction.
Post by: ScreamingHeadGuy on January 20, 2021, 07:19:00 PM
Anybody thinking of angling for a severance package?
(I know practices around severance vary by country and industry. FWIW, I'm speaking from a USA / Software perspective, in which I believe severance to be uncommon apart from major layoff events.)
(I'm also *not* talking about the approach of doing minimal work for months or years until you goad your employer into laying you off. Personally, I find that distasteful.)
I'm thinking of working through the end of February to secure a last round of stock.
I thought I'd then tell my manager of a general sense of dissatisfaction, and suggest I'd be a candidate for future layoff/RIF if there's anything upcoming.
If that doesn't work, I figured I'd offer to stay on longer than a short notice period, in exchange for negotiating severance. I think I might be willing to stay on as much as ~6 additional months, into September.
If I'm able to get to negotiations, I thought I'd ask for: accelerated vesting of further stock, payout for years served (involuntary layoffs have previously received 2wks pay / 1 year served), and healthcare coverage through the end of the year.
Anyone thinking similar?
Have any suggestions for making it work?
I'm aware of the FS book about engineering your layoff. Reviews I've seen say it's not terribly worth the price.
I'd offer you to check out my recent postings in the "Epic FU Money" thread. Basically I just flipped-out when responding to a snide email from my supervisor and said, essentially, "If you don't like it then give me a package to leave." I mean - if I don't ask for it they're definitely not going to give it to me.
Post by: goat_music_generator on January 20, 2021, 07:41:41 PM
I guess this is me now. I just gave notice to my team this week that my last day will be January 8th. 2020 had so many unknowns that I could never really pick out a date until the very end here. We blew past our target numbers in 2020 and I was just grinding it out for fear of the unknown.
I am looking forward to spending even more time with my young children, now without the ever lurking specter of work projects hanging ever present in my mind.
Hasn't fully sunk in yet, but no regrets :)
I am stopping by to confirm that my last day was in fact January 8th. Retired at 33 years old. Still keeping busy watching my 3 children all under 4 years old.
The last few weeks of work were rough. I had too many projects and too many tasks that I needed to pass off/train/write up guides for others to follow in my footsteps. But that is all in the rear view now.
The biggest change so far is that I can feel 20-25% of my brain just not dedicated to thinking about work, planning around work, preparing for the next day etc. It is wonderful to feel that extra mental capacity freeing up :)
Congrats!!
Post by: shuffler on January 20, 2021, 07:42:15 PM
I'd offer you to check out my recent postings in the "Epic FU Money" thread. Basically I just flipped-out when responding to a snide email from my supervisor and said, essentially, "If you don't like it then give me a package to leave." I mean - if I don't ask for it they're definitely not going to give it to me.Yes, I have been following that thread and your posts in it.
Your situation sounds more ... adversarial than mine. It almost sounds like there's an "or else" to what you're saying to your supervisor.
I don't second-guess that that's the right approach for you. Sounds like you've been butting heads there for a while.
For me though, I'm hoping I can pull it off with a bit less animosity.
Post by: shuffler on January 20, 2021, 08:00:08 PM
Depending on your level and criticality, you could probably go, right now, and get a 1Y retention package by making it really clear you are going to leave. Strategically, "I have another option I'm thinking of pursuing" is better than "I'm retiring" even if "I don't need the money" might seem like a better argument (it's not). That's easy. Given that, for some amount of effort, your management chain can arrange package if they're going to do anything.This rings true to me. Thanks for sharing!
However, it's a lot harder to do something like a "severance" package or a < 1Y package. The reason for this is that for anything special or out of the norm, the verbiage matters a lot, your boss is either themselves able to green light the package himself (e.g., an EVP) or may need to actually get sign-off by an SVP, EVP or some chain. There is annoyance friction at each layer.
I'm first level manager of ~10 people, doing product development for one of the major software companies. I'm top of the career level system for that position, unless I move up the chain (for which I've had offers, but never wanted to do). ~20 years service. I don't think I'm irreplaceable, but it would take several months time to find and then integrate a replacement. There aren't too many people within my manager's org who could step up.
But ugh ... its disheartening to think in 1y quanta. I'd really rather not be here for another full year.
I optimistically signed up for a Kilimanjaro trek in October, and I'd really like to be done by then. ;^)
As an aside, asking for a cash equivalent to what would _otherwise be_ stock vesting acceleration is actually a superior framing device.It's a pain in the neck to modify vesting schedules, etc., on an individual basis.Good tip. This makes sense as well.
Post by: exit2019 on January 20, 2021, 08:02:56 PM
Your situation sounds more ... adversarial than mine. It almost sounds like there's an "or else" to what you're saying to your supervisor.
Burning bridges - especially when you think you are done forever - just makes it hard to help other people later. The connections and reputation you build over the course of your career may cease to have direct value to you (but you never know), but they are something that can be invaluable to someone you may find yourself mentoring later - a friend's kid, your own, someone deserving, etc. Two companies ago, we hired as an intern the child of a former, retired co-worker based mostly on our remembering him as a smart guy with a good, thoughtful head on his shoulders.
I have a crazy network built over two decades that I plan to keep vaguely alive so as to hold in reserve for these purposes. Charity needs a connection? Some one deserving needs an intro? Hell yes.
Post by: shuffler on January 20, 2021, 08:06:04 PM
"If you don't like it then give me a package to leave."
I'm actually going through this right now.
Good luck to both of you! I hope things turn out in your favor.
Post by: exit2019 on January 20, 2021, 08:07:44 PM
But ugh ... its disheartening to think in 1y quanta. I'd really rather not be here for another full year.
I optimistically signed up for a Kilimanjaro trek in October, and I'd really like to be done by then. ;^)
This one is the easiest part of it. "I have signed up for a big trip in October, I'm going to need a bunch of three weekends in the 2 months leading up to it and then a few weeks off."
Seriously. All it really amounts to is you've got a nice story to tell.
Post by: ScreamingHeadGuy on January 22, 2021, 01:13:53 PM
A little earlier than planned, so I didn’t get to max my 401(k) for the year. Still I’ll take it.
Post by: goat_music_generator on January 22, 2021, 01:24:04 PM
Sorry to line- jump, but I’m out. https://i.imgur.com/goCp7si.gif
A little earlier than planned, so I didn’t get to max my 401(k) for the year. Still I’ll take it.
Nice! Congratulations to our fearless thread leader!
Post by: 12321 on January 22, 2021, 01:36:26 PM
Sorry to line- jump, but I’m out. https://i.imgur.com/goCp7si.gif
A little earlier than planned, so I didn’t get to max my 401(k) for the year. Still I’ll take it.
You just had to beat me, didn't you?
Congrats! See you soon!
Post by: Aethonan on January 22, 2021, 01:46:43 PM
Sorry to line- jump, but I’m out. https://i.imgur.com/goCp7si.gif
A little earlier than planned, so I didn’t get to max my 401(k) for the year. Still I’ll take it.
Congratulations!! Looking forward to hearing the details!
Post by: 2Birds1Stone on January 22, 2021, 02:26:01 PM
Post by: ScreamingHeadGuy on January 22, 2021, 02:53:20 PM
Congrats @ScreamingHeadGuy, how did it play out?I may be contractually obligated to not discuss whether or not I have agreed to a separation package, so I’m sorry to leave you hanging.
Post by: Dreamer on January 22, 2021, 03:19:32 PM
I guess I'm looking for advice and reassurance! I'm quite certain most of you will just tell me to sell the tech stocks, buy some safer ETFs and hand in my resignation. Why is this so hard for me?
Post by: shuffler on January 22, 2021, 03:31:04 PM
I may be contractually obligated to not discuss whether or not I have agreed to a separation package, so I’m sorry to leave you hanging.(https://i.imgur.com/0rodoe7.png)
Post by: dblaace on January 22, 2021, 06:05:48 PM
Post by: Peter Parker on January 22, 2021, 06:29:35 PM
Post by: Ladychips on January 22, 2021, 08:10:13 PM
I'm quite certain most of you will just tell me to sell the tech stocks, buy some safer ETFs and hand in my resignation.
Is it enough that you know this or does someone need to say it? Get your AA in order and submit your resignation!
Post by: Dreamer on January 23, 2021, 02:27:07 AM
I'm quite certain most of you will just tell me to sell the tech stocks, buy some safer ETFs and hand in my resignation.
Is it enough that you know this or does someone need to say it? Get your AA in order and submit your resignation!
Thanks Ladychips! Yes, I think I just needed someone to say it. I'm going to set a date to discuss with my boss. Formal resignation to follow! :)
Post by: ScreamingHeadGuy on January 23, 2021, 06:30:40 AM
Please check the chart over and offer any corrections or updates you have. The roster is updated for everybody through post #817.
So far we have 76 folks here who will be FIRE in 2021 and 5 have gone OLY into the 2020 Cohort.
Average age of 2021ers is 44.92 (based on those 59 members who provided an age at FIRE date). 2020 average age was 48.32. 2019 average age was 47.38.
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Post by: 12321 on January 23, 2021, 08:04:28 AM
I'll still take on clients who meet my (strict, overpriced) terms, but am otherwise done with the working world.
Cheers! When do I get my invite to the secret young retired folks club??
Post by: ScreamingHeadGuy on January 23, 2021, 09:30:32 AM
Cheers! When do I get my invite to the secret young retired folks club??
Sweet! Your invitation should arrive in the mail in 6-8 weeks. But it’s a secret invite so even the post office can’t know about it.
Post by: dividendman on January 23, 2021, 10:25:04 AM
Post by: fiStressRelief on January 23, 2021, 12:27:00 PM
Family of 4. Latest calculations show we are at approx 108% of our FI number. Plan is for DW and myself to continue with some light part time / side hustle work as long as it suits us so as to add a bit more padding given the current market valuations and recent run up. Also, I am finding it pretty difficult to mentally shift to the withdrawal phase. So the PT work should cover most expenses for this first year and we will adjust from there.
Healthcare plan is ACA, which we are now hopeful will remain intact. I've been reading all of GoCurryCracker's older posts about roth conversions and ACA and I am finding myself agreeing with the general idea that not paying the ACA "tax" is more valuable then starting the roth conversions immediately. I have to keep reminding myself that it is a year by year decision and we can always adjust plans in the future.
It is starting to settle in and become real. Part of me is terrified and part of me is super excited about no more early morning meetings, timesheets, clients, and deadlines!
Post by: American GenX on January 23, 2021, 02:14:05 PM
Hello all! I am officially joining this group after my notice has been given. Last day will be 3/1 and I will be 40. For these first 2 months of the year, I am dumping the majority of my paycheck into 401k.
Healthcare plan is ACA, which we are now hopeful will remain intact.
Best of luck. I've been hopeful the ACA will remain mostly intact for years!, as this thing draws out, but we may not hear a decision from SCOTUS on the ACA case until late June, so I'll probably wait it out those few extra months if that's how long it takes to get a ruling, just to remove all doubt. Otherwise, I would have preferred early May. It's possible a ruling could come earlier, but I'm not counting on it. My compromise is that I'll use a bunch of vacation days in June to give me some extra free time that first month of summer in hoping I'll have the rest of the summer and beyond off.
Prior to the ACA lawsuit ruling by a Texas judge striking down the ACA as unconstitutional back in December 2018, I had planned to FIRE in April 2019 - my stash had peaked at 60X barebones in September 2018 until it took a big downfall through Christmas Eve of that year. I'm close to 90X now. That's barebones, of course. With significant discretionary spending, I'm still looking at a stash of about 25X total annual spending with a big buffer to cut back. I'll also be 2 years closer to SS due to this delay in FIRE. Looking ahead, 2 years seems like a long time to delay FIRE, but I feel they flew by pretty quickly looking back. I like my job (private office, interesting technical work) and got to work from home a lot this year, so that really helped make this last year the best for me.
I'm still not certain if I'll go ahead and FIRE, even if the ACA is upheld as most people expect, or if I might try to stay on part time. A couple years ago, I was pretty certain I would like to stay on part time if my employer would accept that, but after delaying FIRE for two years, I'm not sure I even want to bother with part time at this point. It would be nice to just break free completely now that I have the additional stash from two extra years of working beyond my original FIRE target, and it would be especially nice to be completely retired most of the summer.
Post by: Arbitrage on January 23, 2021, 02:18:08 PM
Just gave notice. My last day will be 2/2/2021.
Congrats!
I actually just gave "notice" as well, but my notice was 6 months out without a definitive end date, as I'm trying to to request accommodations to be fully remote and downshift from full-time to part-time. Nevertheless, it was still a pretty big conversation to have, telling my boss that I'm moving away and won't work full-time. If they don't accommodate, I'll just be leaving.
My boss followed up, asking how I envisioned my responsibilities for part-time remote work. He intimated that he is trying to work on a pitch for upper management. The negotiations continue.
Post by: Peter Parker on January 24, 2021, 07:04:36 AM
Hello everyone. I'm not currently on the 2021 FIRE Cohort list. However, I really do not like my job and want to pull the trigger. I even have a draft resignation letter written but am afraid I won't have the nerve to submit it (planned date is in April). Unlike all the recommendations in this forum, I do not have a a well balanced portfolio at the moment, and I think that is what is causing my worry. I have a basket of mostly tech stocks, which I plan to gradually sell in favor of ETFs. However, these same tech stocks are the reason I'm currently even contemplating FIRE right now (65% overall returns for 2020). Psychologically, I think I want to hold on longer in case these amazing gains continue. This risk isn't something I'd feel comfortable with after FIRE.
I guess I'm looking for advice and reassurance! I'm quite certain most of you will just tell me to sell the tech stocks, buy some safer ETFs and hand in my resignation. Why is this so hard for me?
I think it is greed--and I get it. I have been lucky in that I have enjoyed my job. But I could have FIRED long ago. I kept thinking about how much "more" I could have if I "stayed one more year," or kept investing, rather than drawing down our portfolio.
What helped my wife and finally decide to go in a different direction was when we hired a for-fee financial planner for a one time consult. We outlined all of our dreams and wants, provided them with all of our resources, and they came back saying "what are you waiting for???" Given everything we could possibly want we had a 99% chance of success....But that didn't stop me from thinking "yeah, but how much would I have if I worked/invested one more year?" Then they returned with the question, "how much is enough?"
That question did it for me. How much is enough when you have everything you want? We finally found some peace in the decision to hang it up. We have "enough." We don't need more. We need time to enjoy it all...And that is what we are going to do starting May 7th.....
Post by: marque on January 25, 2021, 06:59:56 AM
Post by: Ladychips on January 25, 2021, 06:20:58 PM
Put me down for July 30, 2021 if my employer continues to let me work from home. Earlier if they insist I come back under anything I consider to be unsafe conditions. I'll be 56 if I last that long.
Shit's getting real.
Once you put down a date, it's happening. Yea you!!!
Post by: dblaace on January 25, 2021, 08:42:42 PM
Put me down for July 30, 2021 if my employer continues to let me work from home. Earlier if they insist I come back under anything I consider to be unsafe conditions. I'll be 56 if I last that long.
Shit's getting real.
I just wanted to tell you. I get a chuckle every time I see your handle and avatar.
Post by: ScreamingHeadGuy on January 25, 2021, 08:46:07 PM
My first weekday of FIRE was packed. I made a bunch of phone calls about my HSA and transferring the 401(k) and Roth 401(k). I walked our daughter to- and from- school (and combined it with walking the dog - efficiency FTW!). I navigated the healthcare.gov system and signed up for health insurance on the exchange. I took a nap on the couch with the dog (she got the sunny side).
But the biggest change of the day in our family came when my wife had a meeting at her part-time job. When she'd been approached to schedule this meeting we had anticipated they'd want to her to pick up more shifts, and she was really open to considering it (since I'm going to be around nearly all the time now she wants to get away from me and my idle hands ;-)). Turns out her employer wants her to move to a new, full-time position which would more-than-triple her current income and then train a replacement for her current position, who would then also be her administrative assistant. Oops - looks like someone might just be un-FIRE-ing in our household right as I get started.
If she makes this change it would, of course, completely blow-up all my carefully-planned-out Roth conversion pipeline and capital gains harvesting and nearly guarantees our 'stache will continue to grow (market conditions pending). It also means our ACA plan coverage might be quite transitory. Insert something about the best-laid plans of mice and men here.
Post by: Aethonan on January 26, 2021, 08:48:13 AM
If she makes this change it would, of course, completely blow-up all my carefully-planned-out Roth conversion pipeline and capital gains harvesting and nearly guarantees our 'stache will continue to grow (market conditions pending). It also means our ACA plan coverage might be quite transitory. Insert something about the best-laid plans of mice and men here.
I really enjoy hearing about how other people's best-laid plans turn upside down (in good ways! only good ways please!). It's a comforting feeling to know that things don't have to turn out the way you expect in order for them to turn out for the best.
Speaking of upended plans, my own are currently in flux. I was planning to give notice a couple of weeks ago, but our 2021 plans hinge on a property transaction that's been delayed a few months... so I'm currently in limbo. This doesn't mean I've embraced the go-with-the-flow feeling (sigh, not sure how to do that...), but rather I now have five different plans that change every few days. And, per ScreamingHeadGuy's experience, probably none of them will actually be what happens! Fortunately, the work is currently semi-enjoyable and still pays great, and I'm filling up that 401(k) and helping fund some sports spending I'd been postponing. Filling in the gaps, right? Enjoying those sunrises and the leisurely feeling that I can leave any time, so work stress mostly rolls off me. It's pretty nice, really.
TL;DR: Still solidly in this cohort, but still annoyingly TBD on date.
Post by: simmias on January 26, 2021, 10:16:30 AM
Post by: tipster350 on January 26, 2021, 10:23:30 AM
I always read about everyone's plans/readiness for ACA coverage, but what are people doing about dental? I'm leaning toward just negotiating cash rates whenever I need work, and paying out of pocket for twice-a-year cleanings, since most dental insurance plans I look at don't seem worth it.
Industry insider here...
Self-paid dental insurance is not worth it.
Pay OOP
Post by: Arbitrage on January 26, 2021, 01:21:11 PM
Possible exception for kids' braces, though I haven't looked in depth at the cost/benefit there. I know there are plans that offer some orthodontic benefit for kids, and since that's an event you can plan out somewhat, it seems like it could be worth it.
Post by: ronsbusa3 on January 26, 2021, 02:32:31 PM
Post by: HumanAfterAll on January 26, 2021, 07:56:32 PM
Shit's getting real.
It sure is! My wife will keep working, so we started having her cover all of our expenses instead of splitting them, and I'm putting 70% of my paycheck into my 401k, enough to max it out by the time I call it quits. She has started telling friends and family, so it's no longer just something the two of us talk about.
I'm relieved to see the light at the end of the tunnel, but I'm also feeling some senioritis. I'm burnt out and over it.
I plan to give notice as soon as I get back from a week of vacation next month... then it will be a done deal!
Post by: Dreamer40 on January 27, 2021, 11:13:43 AM
I have 5 more weeks of work. People are starting to sign off my exit clearance paperwork. I'm starting to transfer work to colleagues. I have a short list of work I'm supposedly trying to complete myself, but it's proving harder than I expected to actually do it. Burnout plus senoritis.
DH played this song for me while we were doing dishes last night. I feel like you all would appreciate it. https://www.youtube.com/watch?v=TXK03FHVsHk
Post by: goat_music_generator on January 27, 2021, 11:20:48 AM
It's exciting seeing all this movement in the cohort! Shit is definitely getting real.
I have 5 more weeks of work. People are starting to sign off my exit clearance paperwork. I'm starting to transfer work to colleagues. I have a short list of work I'm supposedly trying to complete myself, but it's proving harder than I expected to actually do it. Burnout plus senoritis.
DH played this song for me while we were doing dishes last night. I feel like you all would appreciate it. https://www.youtube.com/watch?v=TXK03FHVsHk
Hahaha, this song is great. Thanks for sharing.
Post by: moneypitfeeder on January 27, 2021, 03:18:14 PM
Post by: Dreamer40 on January 27, 2021, 05:38:32 PM
@Dreamer40 that really should be this cohort's anthem! After a complete restructuring of my department, understaffing, a pandemic, and so forth that song really sums it all up for me. I'm sure many here are in a similar boat.
Oh yes, please let's have it as an anthem! :) As a group, we seem to be collectively over it all.
Post by: LightTripper on January 28, 2021, 05:12:26 AM
My plan A is to keep doing a little work after April (which is my "official" retire date on this thread and the last month before I give up childcare outside of school hours), but just take on occasional projects, averaging about a day a week across the year. We'll see how well this works! If not (if it's hard to keep the hours restricted, or I keep them restricted but I'm still not enjoying them) then I can pull the plug entirely - but I'm hoping a day a week will feel pretty retired.
At the moment Covid is restricting how much of my retirement projects I can really get on with anyway (charity shops closed so hard to clear the house, can't go shopping so gardening restricted, given buying plants online is always a bit hit and miss, can't have in person music lessons: though can still do baking, cooking, art - so plenty to do in the hours I have freed up). It may be that when more of these doors open even a day a week will feel like too much!
Post by: asauer on January 28, 2021, 07:21:11 AM
Good news.. I’m moving my date up. I’ll be joining the 2021 club. DW and I were going to retire 2/22/22 but with COVID causing a jump in home prices, we sold our primary home a year early. We are renting a year before we move to our retirement home near Lake Norman NC. No more working 12hr shifts, Night Shift, Swing Shifts, holidays, weekends, forced OT for me....34 work days left but who’s counting. New date is 4/1/21.. April fools day... lol
Congrats! i hope you love Lake Norman. I'm an NC lady and my family goes for at least a weekend every year.
Post by: sailingTowardsFI on January 30, 2021, 07:41:53 AM
On the side hustle front, I've done some work on my 'creative' hobby and have sold some work recently, and I'm separately picking up a weekend's worth of "fun work" in April to explore doing more of that after I've left the office behind too. I am not worried about being bored, and the extra cash will support bonus expenses, like traveling and hobbies.
88 work days until June 4, and I've got some time to burn that wouldn't be paid out, so realistically more like 80-85. It's all downhill from here!
Post by: goat_music_generator on January 30, 2021, 02:43:12 PM
I'm starting to get more and more excited for this year, and seeing everyone's posts is so inspiring! I've decided my date will be June 4, 2021. I'm waiting a little longer to give my employer notice - I'm thinking 6 or 8 weeks so they have time to find a replacement before I go. But since I have said nothing at work (not even to work friends!) I'm starting to feel like I'm living two lives - one where I'm planning for the next chapter and one where I'm pretending I still care about my career and am making strategic planning decisions I won't be around to see implemented. It's going to be a relief when I finally tell them!
I feel this so much. It was a real relief to me to give notice at work, and stop feeling like I was lying all the time.
Although it wasn't quite as cathartic as I was hoping, because I didn't want to tell everyone I was retiring (as opposed to just "taking some time to work on personal projects"). It's been fun chatting with the couple folks who know about FIRE and figured out what my "personal projects" were really code for :-)
Post by: sailingTowardsFI on January 30, 2021, 09:13:57 PM
I'm starting to get more and more excited for this year, and seeing everyone's posts is so inspiring! I've decided my date will be June 4, 2021. I'm waiting a little longer to give my employer notice - I'm thinking 6 or 8 weeks so they have time to find a replacement before I go. But since I have said nothing at work (not even to work friends!) I'm starting to feel like I'm living two lives - one where I'm planning for the next chapter and one where I'm pretending I still care about my career and am making strategic planning decisions I won't be around to see implemented. It's going to be a relief when I finally tell them!
I feel this so much. It was a real relief to me to give notice at work, and stop feeling like I was lying all the time.
Although it wasn't quite as cathartic as I was hoping, because I didn't want to tell everyone I was retiring (as opposed to just "taking some time to work on personal projects"). It's been fun chatting with the couple folks who know about FIRE and figured out what my "personal projects" were really code for :-)
It's nice to know my feelings are normal! I think I'm going to tell most people that I'm "taking a break" from working - and really, who doesn't need a break after 2020? I'll say that my husband and I want to do some traveling over the next year, which is true, and that I'll "figure things out after that". I bet everyone will think I'm having a midlife crisis and will gossip about how I'm sure to be a pauper in a couple of years.
Post by: Chaplin on January 30, 2021, 11:49:18 PM
Aiming for 2021 here too. Of course, many things could intervene.
Five years is based on current income. Unfortunately getting said income requires more compromises on health, interests and family than I'm willing to make now. So I'm looking at downshifting the job which would most likely result in a pay cut, although it might cut some expenses too.
Well, 2021 is 1/12th over - have 1/12th of the Class of 2021 pulled the plug, or are the early months of a year unlikely due to bonuses, taxes, other significant dates, or even just psychology (if you were targeting January, why not just go a bit sooner, before the new year?
Post by: TheContinentalOp on February 01, 2021, 02:07:43 PM
Post by: goat_music_generator on February 01, 2021, 02:56:10 PM
I gave notice last week. 15 minutes later the COO called and asked if I'd consider working part-time. On Friday the CEO asked if I'd consider hanging around up to 4 months (he included offers of tax-free compensation). I got the lease on the town home I wanted 4.5 hours away from where I am now, so I told them continuing to work is not an option. My last day is March 19th.
Congrats! Gotta love that "as soon as you say you're leaving, they sweeten the deal".
Post by: phildonnia on February 02, 2021, 10:52:28 AM
- Landscape the backyard
- Raise chickens, or possibly bees.
- Make stained glass windows
- (Possibly) pursue a teaching credential
- Volunteer for VITA (tax assistance)
- Go on a really long road trip
- Write software
- Drive for Uber?
- Learn to fly
- Write a book
- Resume daily jogging
Post by: goat_music_generator on February 02, 2021, 12:12:19 PM
Four months remaining. Here's the plans for the years ahead, in no particular order:
- Landscape the backyard
- Raise chickens, or possibly bees.
- Make stained glass windows
- (Possibly) pursue a teaching credential
- Volunteer for VITA (tax assistance)
- Go on a really long road trip
- Write software
- Drive for Uber?
- Learn to fly
- Write a book
- Resume daily jogging
I love your list. It has a lot of overlap with mine. :-)
Post by: Dreamer40 on February 02, 2021, 12:40:09 PM
Four months remaining. Here's the plans for the years ahead, in no particular order:
- Landscape the backyard
- Raise chickens, or possibly bees.
- Make stained glass windows
- (Possibly) pursue a teaching credential
- Volunteer for VITA (tax assistance)
- Go on a really long road trip
- Write software
- Drive for Uber?
- Learn to fly
- Write a book
- Resume daily jogging
Nice list! Hopefully the next 4 months fly by.
My real list only has one item: work on my garden. But my hypothetical list has a bunch of random ideas jotted down that I don't know yet if I really want to do. I'm hoping some quiet time in my garden will help me gain some mental space to think about the rest.
Post by: Blindsquirrel on February 02, 2021, 06:01:17 PM
Once my part ended and care for parents required more time I went to half time. Boss knows, bosses boss knows, HR knows, and I am heading off to RE land later than I should have but in an excessively strong position. In view of pandemic, work on vaccine project was the single best thing I have done and the hardest I have worked. Wear a mask and take the GD vaccine when you can. Have nominal 1 month of actual working days and about half is of that is vacation so I am geeked to do 100 things outside of work. Glad to see my moustachian homies doing well.
Post by: HumanAfterAll on February 02, 2021, 06:15:40 PM
Heard all the cool kids were here. Way past FIRE number and at risk of becoming institutionalized for the Shawshank fans. I was going to call it end of March 2020 but COVID hit so I was like I can loaf this gravy train for a bit and then Covid-19 vaccine work hit and I ended up working 5 months straight at a furious pace. I would have felt like a dick if I left my coworkers as rare experience and engineering tech manager position made me hard to replace as the timeline was very, very compressed.
Once my part ended and care for parents required more time I went to half time. Boss knows, bosses boss knows, HR knows, and I am heading off to RE land later than I should have but in an excessively strong position. In view of pandemic, work on vaccine project was the single best thing I have done and the hardest I have worked. Wear a mask and take the GD vaccine when you can. Have nominal 1 month of actual working days and about half is of that is vacation so I am geeked to do 100 things outside of work. Glad to see my moustachian homies doing well.
Thank you for working so hard to help so many people!
I hope that final push of hard, meaningful work sends you off to FIRE with zero guilt!
Post by: Blindsquirrel on February 02, 2021, 06:28:01 PM
Post by: CarolinaGirl on February 03, 2021, 05:30:00 AM
Good news.. I’m moving my date up. I’ll be joining the 2021 club. DW and I were going to retire 2/22/22 but with COVID causing a jump in home prices, we sold our primary home a year early. We are renting a year before we move to our retirement home near Lake Norman NC. No more working 12hr shifts, Night Shift, Swing Shifts, holidays, weekends, forced OT for me....34 work days left but who’s counting. New date is 4/1/21.. April fools day... lol
We seem to have a lot in common! Same potential FIRE year, same age, soon to be same location! :)
You’ll love it here in the Lake Norman area!!
Post by: goat_music_generator on February 03, 2021, 06:28:53 AM
Post by: tipster350 on February 03, 2021, 07:04:12 AM
Checking in here as confirmed FIREd. Today is the first day of the rest of my life.
Congratulations! Best wishes for many happy days of freedom ahead.
Post by: Ladychips on February 03, 2021, 07:13:56 AM
Checking in here as confirmed FIREd. Today is the first day of the rest of my life.
Whoohoo!!
Post by: Much Fishing to Do on February 03, 2021, 09:35:01 AM
Four months remaining. Here's the plans for the years ahead, in no particular order:
- Landscape the backyard
- Raise chickens, or possibly bees.
- Make stained glass windows
- (Possibly) pursue a teaching credential
- Volunteer for VITA (tax assistance)
- Go on a really long road trip
- Write software
- Drive for Uber?
- Learn to fly
- Write a book
- Resume daily jogging
Nice list. Last Summer my 11yo said he wanted chickens and I said if he built a coop that year we'd get them in 2021....I admit I did not plan on him following thru but there is a big nice coop out there now ... so I guess we're getting chickens.....
Post by: Arbitrage on February 03, 2021, 01:03:51 PM
Just gave notice. My last day will be 2/2/2021.
Congrats!
I actually just gave "notice" as well, but my notice was 6 months out without a definitive end date, as I'm trying to to request accommodations to be fully remote and downshift from full-time to part-time. Nevertheless, it was still a pretty big conversation to have, telling my boss that I'm moving away and won't work full-time. If they don't accommodate, I'll just be leaving.
My boss followed up, asking how I envisioned my responsibilities for part-time remote work. He intimated that he is trying to work on a pitch for upper management. The negotiations continue.
Success! My boss (and boss's boss) agreed with my plan to transition to a part-time employee, working fully remotely from my FIRE town of choice. That removes a huge amount of financial uncertainty and makes this move basically a done deal. Now I need to find that new house...which is definitely its own challenge from 1200 miles away, during a pandemic, with our destination at an all-time low in inventory.
Post by: Dreamer40 on February 03, 2021, 01:26:42 PM
Checking in here as confirmed FIREd. Today is the first day of the rest of my life.
Whoohoo!!
Woot woot! Congrats! I hope it feels glorious.
Post by: moneypitfeeder on February 03, 2021, 05:43:58 PM
Post by: goat_music_generator on February 03, 2021, 06:35:16 PM
Four months remaining. Here's the plans for the years ahead, in no particular order:
- Landscape the backyard
- Raise chickens, or possibly bees.
- Make stained glass windows
- (Possibly) pursue a teaching credential
- Volunteer for VITA (tax assistance)
- Go on a really long road trip
- Write software
- Drive for Uber?
- Learn to fly
- Write a book
- Resume daily jogging
Nice list. Last Summer my 11yo said he wanted chickens and I said if he built a coop that year we'd get them in 2021....I admit I did not plan on him following thru but there is a big nice coop out there now ... so I guess we're getting chickens.....
Haha! Wow, that's pretty impressive for a kid that age! Nice.
Post by: ScreamingHeadGuy on February 03, 2021, 07:43:40 PM
So far we have 79 folks here who will be FIRE in 2021 and 5 have gone OLY into the 2020 Cohort.
Average age of 2021ers is 44.97 (based on those 61 members who provided an age at FIRE date). 2020 average age was 48.32. 2019 average age was 47.38.
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Post by: ScreamingHeadGuy on February 03, 2021, 07:52:44 PM
I've got you added @ronsbusa3
After one week of FIRE I've had a few different people comment "You seem so much less stressed". I didn't know it showed so much, but the difference is clearly visible.
Post by: Ladychips on February 03, 2021, 08:01:40 PM
I'm so impressed with the January group showing us the way. Come on February folks!!!
Post by: LightTripper on February 04, 2021, 06:33:44 AM
Heard all the cool kids were here. Way past FIRE number and at risk of becoming institutionalized for the Shawshank fans. I was going to call it end of March 2020 but COVID hit so I was like I can loaf this gravy train for a bit and then Covid-19 vaccine work hit and I ended up working 5 months straight at a furious pace. I would have felt like a dick if I left my coworkers as rare experience and engineering tech manager position made me hard to replace as the timeline was very, very compressed.
Once my part ended and care for parents required more time I went to half time. Boss knows, bosses boss knows, HR knows, and I am heading off to RE land later than I should have but in an excessively strong position. In view of pandemic, work on vaccine project was the single best thing I have done and the hardest I have worked. Wear a mask and take the GD vaccine when you can. Have nominal 1 month of actual working days and about half is of that is vacation so I am geeked to do 100 things outside of work. Glad to see my moustachian homies doing well.
This is all incredibly cool. Hope you really enjoy your free time, and thank you so much for all your hard work (and to your colleagues!) My parents got their first dose a couple of weeks ago and the relief/release of mental load on all of my generation (who haven't even been vaccinated yet) is IMMENSE. Just to know there is a time coming when we will be able to see our loved ones without worrying about accidentally killing them....
Post by: Chaplin on February 04, 2021, 09:59:13 PM
Why five months? My conscience required it, and there are some financial benefits too, but I'll be questioning my decision more and more as it drags on.
Post by: dividendman on February 05, 2021, 11:24:33 AM
Post by: Dreamer40 on February 05, 2021, 11:59:46 AM
Last day today! woot.
Congrats!!!! What a beautiful thing to see. And congrats to Chaplin, too. Making progress!
I have 26 more days. But it was almost cut short this week when my office torpedoed my PIV card Tuesday (i.e., the chipped card that allows me to connect remotely via a card reader). Someone with a similar name quit this week so they blindly shut down my account without doublechecking that they had the right person. But I got a new temporary card today in the mail and am back online. Nobody in my office management cared that I didn't have remote access. I was totally on my own to fight with HR, the security office, and the tech help desk for days. So I guess they won't care when I don't get much done this month... Sucks to feel so much negativity in my final weeks. But it affirms my decision to leave! If I hadn't resigned already, I would have this week.
Post by: TheContinentalOp on February 05, 2021, 12:50:24 PM
Post by: dblaace on February 05, 2021, 03:07:55 PM
Last day today! woot.Congrats!
Post by: dividendman on February 05, 2021, 04:06:31 PM
Last day today! woot.Congrats!
Thanks all. I guess I'm less excited than I should be since I already did this a few years ago but then.... just when I thought I was out, they pulled me back in. :D
Hopefully it sticks this time!
Post by: Sultan58 on February 06, 2021, 09:28:55 AM
Post by: ScreamingHeadGuy on February 06, 2021, 01:28:25 PM
Last day today! woot.
That is great news!
Post by: ScreamingHeadGuy on February 06, 2021, 01:29:20 PM
Confirmed....I'm out....First week was GLORIOUS!!!Congratulations!
Post by: skyrefuge on February 06, 2021, 04:57:19 PM
Original projections from way back targeted ~2019, but then I went and got married, whoops. Then the fairly-specific plan of the last couple years was August 2020, at which point we would become bicycle-based nomads for a few years. COVID hit right as I was about to give my manager a 6-month warning, so I decided to hold off on that talk and keep the money rolling in as long as we were stuck at home.
Next plan was ~May 2021, after the 2nd quarterly RSU payout. Told my manager (who has been my manager my entire career) that rough plan in December. He wasn't too shocked, since he remembered me talking early-retirement >10 years ago, and then revealed he had somewhat-early retirement plans somewhere on the horizon too, partly due to my influence from those days (yay!)
But after making it "real" with that talk, my motivation (which hadn't been great recently anyway) took quite a nosedive. Something suddenly just felt useless about keeping track of all the "big picture" stuff constantly whirling about, knowledge necessary to do my job well, but costly to maintain. So after much internal struggle, I upgraded(?) to early March, long enough for one RSU payout, and to leave things in a nice-ish state for my colleagues. Even though we still won't be converting to nomads 'til the summer.
You can include me in the scared-shitless cohort too. Even though our NW is way higher than I ever imagined it would be. Like, just holding on for 3 more months for another RSU payout (life-changing money to the average American) seems like such a no-brainer, and I actually feel guilty for refusing to make that trade, especially since we aren't going anywhere yet anyway!
Part of the problem is an unexpected boost over the last couple years opened the lifestyle-inflating possibility to settle in some pricey real-estate areas that we wouldn't have even considered previously, and due to our upcoming homelessness, the precise costs of such settlement are currently unpredictable. That's an uncomfortable situation for someone who has precisely tracked his expenses for 15+ years to prove his FIRE-worthiness to himself. But hopefully we can maintain a super-low WR during our nomad time, and also use it to manage some of that dreaded early-years sequence-of-return risk.
Anyway, glad (and nervous) to be here in this support-group!
Post by: HumanAfterAll on February 06, 2021, 09:10:29 PM
We hit a milestone this week - our investments reached our FI number for the first time! I’m expecting they may dip below that, but wow, compound interest is amazing!
Like you, these crazy market returns make the thought of selling my time for more paychecks less appealing, especially when investment returns are outpacing paychecks.
Post by: exit2019 on February 08, 2021, 10:08:04 PM
Post by: Aethonan on February 09, 2021, 07:38:50 PM
You can include me in the scared-shitless cohort too.
Lol. Welcome to the club! ;) Congrats on making a huge (albeit also scary) step. Do you have a specific plan for your nomad times? Seems like a great way to protect against those SORR-scaries.
Post by: ixtap on February 09, 2021, 08:05:20 PM
Told my manager (who has been my manager my entire career) that rough plan in December. He wasn't too shocked, since he remembered me talking early-retirement >10 years ago, and then revealed he had somewhat-early retirement plans somewhere on the horizon too, partly due to my influence from those days (yay!)
DH has a mentor who has been his manager on and off and recruited him to the current company. Ever since moving over to the new company, he has made no secret of his plans. However, when he touched base with his mentor a couple of months ago, he still seemed to think it was inconceivable. A week or two later, someone higher up in their company announced their retirement in their early 50s and everyone was just kind of "Must be nice." Uh, hello? Anyone listening? I think it won't be real to them until DH turns in his notice, which he just isn't ready to do yet.
Post by: skyrefuge on February 10, 2021, 02:17:52 PM
Welcome skyrefuge! I like the sound of your plan! I’m hoping to get a few multi-day bike trips in this summer, but nothing that qualifies as nomad status!
Thank you! I now realize I haven't updated my location, I've been in the Seattle area too for the last 18 months. As a consolation prize for not retiring last August, we did an 8-day loop on our bikes around the Olympic peninsula, highly recommended! Being retired this spring (while still staying in the area) means maybe this time we'll get a good chance to ride a car-free SR20 into North Cascades NP (https://wabikes.org/2014/05/08/car-free-north-cascades-washingtons-mountainside-ciclovia/) on a Tuesday with an abnormally warm-and-sunny forecast.
Like you, these crazy market returns make the thought of selling my time for more paychecks less appealing, especially when investment returns are outpacing paychecks.
Yep, NW was up ~$50k in the two business days since I joined this thread, that sure helped highlight the futility of "one more week" and help steel my nerve. Though on the other hand "retiring at a market peak" wouldn't have been how I drew it up either.
Lol. Welcome to the club! ;) Congrats on making a huge (albeit also scary) step. Do you have a specific plan for your nomad times? Seems like a great way to protect against those SORR-scaries.
Thank you! Our plan is a long-term, long-distance self-contained bike tour, with rough shapes planned. My wife has been saying "3 to 5 years", which would be awesome, but who knows? One target is to hit all 50 states, so we'll be starting with the lower-48 in late summer, heading south, see if we can do a semi-outdoor winter along the southern border, and then hopefully will be able to get through the next winter in New Zealand, and after that, who knows! Riding bikes, staying physically strong, and limiting our possessions to what we can strap to our bikes means we'll ironically be living a more-Mustachian lifestyle than we ever did pre-retirement!
And yeah, even if we get soft and spend way more than the average long-term bike-tourists, at a minimum we should get a better idea how much money we "really" have when it comes time to settle again, because we'll know if current market valuations were a one-time fluke, the start of a relatively-stable plateau, or even just a point on a still-continuing upslope. But the bike tour has been a long-planned thing (even somewhat of a motivation for early-retirement), because that's what we love to do; any improvements to our portfolio-survivability are just a lucky side-effect.
Post by: Arbitrage on February 11, 2021, 03:34:43 PM
Post by: Much Fishing to Do on February 11, 2021, 05:09:04 PM
I've been telling more and more people - at work and otherwise. Today, I took a step that felt weird: I stopped contributing to my after-tax 401(k)/Mega Backdoor Roth. I feel like we need the liquidity in the short term more than we need the additional money in Roth. With house prices still increasing unrelentingly where we want to buy, we may need to bring quite a bit of cash to the table at closing. Between that and all of the costs associated with relocating and fixing up our current place to sell, we could end up in a bit of a cash crunch. I could sell some of our taxable ETFs if really needed, but I'd much rather avoid that tax hit while living in California with a 25% LTCG tax rate.Yeah, that tax hit would be brutal. What's your current cash holding?
I've been shifting more to cash and bonds over the past 3 years as I wind up (gone from 95/5 equities/bonds to 75equities/15 cash/10 bonds) and the hits hasn't 'seemed' too bad mostly selling the stuff thats not as appreciated, but it still hurts given I expect to be close to a zero tax rate in RE.
Post by: exit2019 on February 11, 2021, 09:48:15 PM
With house prices still increasing unrelentingly where we want to buy, we may need to bring quite a bit of cash to the table at closing. Between that and all of the costs associated with relocating and fixing up our current place to sell, we could end up in a bit of a cash crunch. I could sell some of our taxable ETFs if really needed, but I'd much rather avoid that tax hit while living in California with a 25% LTCG tax rate.
I am very curious where people are going. We are in the bay area and plan to leave; we could stay perpetually but I'd like to get out, not just because of the crowding but also because I'd like a bit more property than we have now in the Valley and that.. is crazy expensive.
Covid19 blew up our chance to cover our bases there visiting for a few weeks the areas we've been pondering (by doing a few trips over the year); so my plan now is to do it after pulling the trigger, but I'm curious how people have decided. We've been looking at Asheville, Nashville, and Portland metro..
Post by: Aethonan on February 12, 2021, 03:20:41 PM
Covid19 blew up our chance to cover our bases there visiting for a few weeks the areas we've been pondering (by doing a few trips over the year); so my plan now is to do it after pulling the trigger, but I'm curious how people have decided. We've been looking at Asheville, Nashville, and Portland metro..
If two of your options are Asheville and Nashville, then you will NOT like the Portland metro weather :) We went from the bay area to Portland a while back. While I love it, I also love moss and running in the rain. Depends on your priorities ;)
Post by: exit2019 on February 12, 2021, 08:45:41 PM
Given the nationwide weather right now, all bets may be off. A friend is driving on icy, snowy roads in Austin..
Post by: Need2Save on February 13, 2021, 07:21:25 AM
Exact date TBD but likely between May 12 and July 2. Waiting for an annual bonus before giving my notice. Notice period will depend on a few factors. Will report back in April my anticipated final day.
Post by: Arbitrage on February 13, 2021, 08:50:46 AM
I've been telling more and more people - at work and otherwise. Today, I took a step that felt weird: I stopped contributing to my after-tax 401(k)/Mega Backdoor Roth. I feel like we need the liquidity in the short term more than we need the additional money in Roth. With house prices still increasing unrelentingly where we want to buy, we may need to bring quite a bit of cash to the table at closing. Between that and all of the costs associated with relocating and fixing up our current place to sell, we could end up in a bit of a cash crunch. I could sell some of our taxable ETFs if really needed, but I'd much rather avoid that tax hit while living in California with a 25% LTCG tax rate.Yeah, that tax hit would be brutal. What's your current cash holding?
I've been shifting more to cash and bonds over the past 3 years as I wind up (gone from 95/5 equities/bonds to 75equities/15 cash/10 bonds) and the hits hasn't 'seemed' too bad mostly selling the stuff thats not as appreciated, but it still hurts given I expect to be close to a zero tax rate in RE.
I've got about $70k in cash and muni bonds in taxable accounts. We're tapping a HELOC for the majority of the down payment, and selling our current place after we move. Technically I do have some more in Series I savings bonds I could also withdraw, though once again I'd prefer not to. Like you, I anticipate a near-zero tax rate in RE, including state tax.
Our overall AA has been consistent for several years, 75/25 (where 25 is all fixed income), but most of the bonds - most of our investments in general - are in tax-advantaged.
Post by: goat_music_generator on February 13, 2021, 09:11:50 AM
I'm OLYing from the 2022 thread to here. Will you folks have me?
Exact date TBD but likely between May 12 and July 2. Waiting for an annual bonus before giving my notice. Notice period will depend on a few factors. Will report back in April my anticipated final day.
Hey, another OLYer from 2022 here! Welcome!
Post by: Ladychips on February 13, 2021, 09:22:12 AM
Post by: Need2Save on February 13, 2021, 10:46:16 AM
Since we won't be returning to the office before both of us retiring, we decided we can definitely make do with one less vehicle now instead of waiting until the summer. Feeling very real and I'm very glad that I'm no longer waffling between working one more year or not.
Post by: SunniD on February 14, 2021, 06:42:27 AM
Post by: FarFetchd on February 15, 2021, 12:29:07 PM
I am very curious where people are going. We are in the bay area and plan to leave; we could stay perpetually but I'd like to get out, not just because of the crowding but also because I'd like a bit more property than we have now in the Valley and that.. is crazy expensive.
Covid19 blew up our chance to cover our bases there visiting for a few weeks the areas we've been pondering (by doing a few trips over the year); so my plan now is to do it after pulling the trigger, but I'm curious how people have decided. We've been looking at Asheville, Nashville, and Portland metro..
Our current location is not the bay area, but somewhere maybe about 70% as ridiculous and unlivable. (Representative anecdote: we looked at exactly one house here, listed for $600k, where the agent waited outside to meet us, because she was - for good reason - afraid of going inside by herself).
We're going to Madison WI. Unfortunately Madison is apparently in the middle of an insane frenzied seller's market for real estate. We have an approach we're working through that's looking like it will work out nicely - but we lucked out, really.
I have to say, housing is pretty tough. Everything in the price range I would have considered a realistically good deal - say $200k-300k - is that cheap for a reason. Either the house or particular location will have something seriously wrong with it, or you're looking in a random mediocre small town where there won't be much reason to leave the house, or a rural area where you're getting a beautiful multi-acre yard in exchange for any day-to-day human contact. It sounds like real estate has been getting overheated recently, though, so maybe this is just a particularly unlucky time to be looking.
Post by: ixtap on February 15, 2021, 12:44:51 PM
(Representative anecdote: we looked at exactly one house here, listed for $600k, where the agent waited outside to meet us, because she was - for good reason - afraid of going inside by herself).
When I looked at condos, one was still inhabited by a hoarder, there were clearly rodents in the rafters, who had chewed holes in the ceiling, and the current inhabitant sat in her chair telling stories about the murder across the road. As I recall, the address was something like Mockingbird Lane. Not sure if I never heard back from that realtor because she was as traumatized as I was or my price range was just too low to be of any benefit to her.
Post by: exit2019 on February 15, 2021, 06:55:57 PM
We're going to Madison WI. Unfortunately Madison is apparently in the middle of an insane frenzied seller's market for real estate. We have an approach we're working through that's looking like it will work out nicely - but we lucked out, really.
I have to say, housing is pretty tough. Everything in the price range I would have considered a realistically good deal - say $200k-300k - is that cheap for a reason. Either the house or particular location will have something seriously wrong with it, or you're looking in a random mediocre small town where there won't be much reason to leave the house, or a rural area where you're getting a beautiful multi-acre yard in exchange for any day-to-day human contact. It sounds like real estate has been getting overheated recently, though, so maybe this is just a particularly unlucky time to be looking.
It seems to be blowing up all over the country. Sounds nice.
Post by: texxan1 on February 15, 2021, 07:54:35 PM
that is all lol
once the severence hits, ill update with all the numbers on the day i Fired.. So history can be made LOL
Post by: Ladychips on February 16, 2021, 04:23:28 AM
FIRED
Outstanding! Congratulations!
Post by: dblaace on February 16, 2021, 04:59:07 AM
FIREDCongrats!
that is all lol
once the severence hits, ill update with all the numbers on the day i Fired.. So history can be made LOL
Post by: LightTripper on February 16, 2021, 06:54:16 AM
Post by: ScreamingHeadGuy on February 16, 2021, 09:59:33 AM
I've got you added @SunniD and @Need2Save . Welcome aboard.
Post by: NoVa on February 16, 2021, 10:49:32 AM
Post by: Ottawa on February 16, 2021, 03:22:27 PM
Cheers.
Post by: Blindsquirrel on February 16, 2021, 06:42:44 PM
Post by: Dreamer40 on February 17, 2021, 11:35:36 AM
Related to the location discussion above, I moved to the Portland metro area last summer. It’s frickin gorgeous. All the time. The gray sky thing is a myth perpetuated by locals who don’t want anyone else coming. Lol. Sort of. I keep hearing that this winter was mild, but for the ice storm that just left us without power or internet for 4 days... And sometimes it’s rains a few days in a row. But I honestly had much worse weather in Washington, D.C. The Portland summer and fall was incredible and perfect. The sun comes out in regular spurts, even if it rains on and off throughout the day. Anyway, I came here to be near family, but would seriously consider it anyway. The biggest difference I’m feeling between Portland and other places I’ve lived like the Bay Area and DC, is that Portland is very low tech. Like the county garbage collection office is run by one lady who wants us to mail a check instead of pay online. And I suddenly have paper takeout menus again because restaurants don’t all have websites. Don’t get me started on the DMV. When a natural disaster strikes like fire or ice, the county has no idea how to inform people about what’s going on. It felt like going back in time to move here. That’s the downside to things being so “laid back.” But I still love it. I bought an exceptionally sunny lot, which helps me a lot. Some of the neighbors live in more redwood-forest-like conditions. They grow ferns and mushrooms while I can grow tomatoes.
Post by: HumanAfterAll on February 17, 2021, 01:13:56 PM
Edit to add: they are asking me what I would need to stay. After some discussions with managers and my family, I think I’ll ask for a 6 month unpaid sabbatical, to enjoy the summer, followed by a half-time role in a different, fun and creative group. I really enjoyed this type of work before, and I think part time it would feel like a highly paid hobby, without the overwhelming stress and responsibility of a full time position. Not much risk on my part, if it doesn’t work out I’ll just go with Plan A and quit again :)
Post by: Aethonan on February 18, 2021, 02:21:02 PM
The biggest difference I’m feeling between Portland and other places I’ve lived like the Bay Area and DC, is that Portland is very low tech. ... It felt like going back in time to move here.
The dream of the '90s is alive in Portland. ;) All true.
Congrats to HumanAfterAll, Ottawa, Nova, et al! Y'all are inspiring.
Post by: tipster350 on February 19, 2021, 10:21:34 AM
The biggest difference I’m feeling between Portland and other places I’ve lived like the Bay Area and DC, is that Portland is very low tech. ... It felt like going back in time to move here.
The dream of the '90s is alive in Portland. ;) All true.
Congrats to HumanAfterAll, Ottawa, Nova, et al! Y'all are inspiring.
I experienced the same moving from SF to Philly suburbs. It is actually a breath of fresh air to be in an area where everyone and everything isn't tech-focused all the time.
-----------
And congrats to all the new grads! I'm celebrating with you!
Post by: Mrs. Healthywealth on February 20, 2021, 05:40:18 PM
Excited that this is actually happening. Woohoo!!!!
Post by: ScreamingHeadGuy on February 21, 2021, 04:29:59 PM
This and a few other things that have been happening at work, are a great motivator to move on. Going to finish up a few things and then submit my resignation, guessing will leave by early to late April.
Don't just submit your resignation. Present your manager with "I believe it would be in the best interest of the company to come up with a separation agreement to protect the company's and my best interests." You have nothing to lose - at the worst they terminate you. (Boo-hoo.)
Post by: ScreamingHeadGuy on February 21, 2021, 04:33:26 PM
So far we have 79 folks here who will be FIRE in 2021 and 5 have gone OLY into the 2020 Cohort.
Average age of 2021ers is 45.40 (based on those 63 members who provided an age at FIRE date). 2020 average age was 48.32. 2019 average age was 47.38.
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Post by: ScreamingHeadGuy on February 21, 2021, 04:34:42 PM
Post by: Mrs. Healthywealth on February 21, 2021, 05:07:28 PM
This and a few other things that have been happening at work, are a great motivator to move on. Going to finish up a few things and then submit my resignation, guessing will leave by early to late April.
Don't just submit your resignation. Present your manager with "I believe it would be in the best interest of the company to come up with a separation agreement to protect the company's and my best interests." You have nothing to lose - at the worst they terminate you. (Boo-hoo.)
Not sure they do separation agreements for public entities. There is little flexibility in terms of what my manager or his manager can and can't do. Which reminds me that I do need to meet with the folks that handle my pension and medical benefits and submit the necessary paperwork. They can't terminate me either-takes an act of God to terminate folks from public agencies, this is part of the reason i started exploring FIRE so intensely. Would've happily accepted unemployment or a severance package. Going to meet with our fee-only CFP and make sure we haven't missed anything, meeting with him has always been worth every penny.
Post by: Arbitrage on February 22, 2021, 08:10:18 AM
Finding the house is the big problem left. Stupid crazy sellers' market. We've toured a couple of houses virtually, but neither was quite right. Once we find a house that feels right, I know it's going to be a real struggle to actually buy it, too. We've got time, so we're staying hopeful.
Post by: Mrs. Healthywealth on February 25, 2021, 03:06:18 PM
Wife is going to go from full time to working per diem. We agreed that I would try out a new profession after taking off for 6 mos, if i don't like it, I can quit and do nothing with my wife. Have a strong suspicion I'm going to like it a lot, it's a combo of finance and mental health, something I've been wanting to pursue for 10 yrs.
Requested time off starting end March, and was happy to see it has been approved. It's will be the last day I plan to work...3/29 here I come woohoo.
Only bummer is that I can't tell my boss I'm quitting till after we are done with our real estate transactions. That will be after 3/29, when I'm on "vacation". She's not going to like that at all...sucks cause we have such a good relationship, feels a bit like a betrayal. Planning to just tell her it was a decision I made during vacation since I don't want to return to the office anymore.
Post by: bownyboy on February 25, 2021, 03:41:45 PM
Might as well be earning some money to add to the stash when we can't do anything else right?
That makes my FIRE day 7th September 2021.
Good luck everyone and stay safe.
(oh and for some reason my age is listed as 29, I wish! it will be 49)
Post by: JoJo on February 26, 2021, 11:36:26 AM
Post by: Arbitrage on February 26, 2021, 08:16:15 PM
Another major hurdle overcome - we told the kids of the impending move. They're handling it like champs! Some sadness, naturally, but mostly they listened to our reasoning and are finding reasons to be excited. Much better reactions than we were fearing.
Finding the house is the big problem left. Stupid crazy sellers' market. We've toured a couple of houses virtually, but neither was quite right. Once we find a house that feels right, I know it's going to be a real struggle to actually buy it, too. We've got time, so we're staying hopeful.
Update...a listing popped up yesterday that we were interested in. The size and location were perfect, but the pictures were seriously lacking. Did a virtual tour and we both instantly fell in love with it. Put in an offer this morning, accepted this afternoon! This FIRE thing is definitely going to happen.
Post by: goat_music_generator on February 26, 2021, 08:49:11 PM
Another major hurdle overcome - we told the kids of the impending move. They're handling it like champs! Some sadness, naturally, but mostly they listened to our reasoning and are finding reasons to be excited. Much better reactions than we were fearing.
Finding the house is the big problem left. Stupid crazy sellers' market. We've toured a couple of houses virtually, but neither was quite right. Once we find a house that feels right, I know it's going to be a real struggle to actually buy it, too. We've got time, so we're staying hopeful.
Update...a listing popped up yesterday that we were interested in. The size and location were perfect, but the pictures were seriously lacking. Did a virtual tour and we both instantly fell in love with it. Put in an offer this morning, accepted this afternoon! This FIRE thing is definitely going to happen.
Congrats!
Post by: Dreamer40 on February 27, 2021, 07:34:47 AM
Another major hurdle overcome - we told the kids of the impending move. They're handling it like champs! Some sadness, naturally, but mostly they listened to our reasoning and are finding reasons to be excited. Much better reactions than we were fearing.
Finding the house is the big problem left. Stupid crazy sellers' market. We've toured a couple of houses virtually, but neither was quite right. Once we find a house that feels right, I know it's going to be a real struggle to actually buy it, too. We've got time, so we're staying hopeful.
Update...a listing popped up yesterday that we were interested in. The size and location were perfect, but the pictures were seriously lacking. Did a virtual tour and we both instantly fell in love with it. Put in an offer this morning, accepted this afternoon! This FIRE thing is definitely going to happen.
So exciting! I forget if you already said, what area are you moving to? Good luck finalizing the sale!
Post by: Arbitrage on February 27, 2021, 08:02:42 AM
Another major hurdle overcome - we told the kids of the impending move. They're handling it like champs! Some sadness, naturally, but mostly they listened to our reasoning and are finding reasons to be excited. Much better reactions than we were fearing.
Finding the house is the big problem left. Stupid crazy sellers' market. We've toured a couple of houses virtually, but neither was quite right. Once we find a house that feels right, I know it's going to be a real struggle to actually buy it, too. We've got time, so we're staying hopeful.
Update...a listing popped up yesterday that we were interested in. The size and location were perfect, but the pictures were seriously lacking. Did a virtual tour and we both instantly fell in love with it. Put in an offer this morning, accepted this afternoon! This FIRE thing is definitely going to happen.
So exciting! I forget if you already said, what area are you moving to? Good luck finalizing the sale!
Thanks! We're headed to Bellingham, WA. Head is spinning with all of the things we have to manage over the next few months, between loans, taxes, down payments, cash flow, inspections, flying, fixes on the new place, fixes on the current place, listing/selling/moving, job transitions...but now we're definitely on the path, and I'm beyond excited for what awaits on the other side of this transition period.
Post by: Dreamer40 on February 27, 2021, 11:31:01 AM
Another major hurdle overcome - we told the kids of the impending move. They're handling it like champs! Some sadness, naturally, but mostly they listened to our reasoning and are finding reasons to be excited. Much better reactions than we were fearing.
Finding the house is the big problem left. Stupid crazy sellers' market. We've toured a couple of houses virtually, but neither was quite right. Once we find a house that feels right, I know it's going to be a real struggle to actually buy it, too. We've got time, so we're staying hopeful.
Update...a listing popped up yesterday that we were interested in. The size and location were perfect, but the pictures were seriously lacking. Did a virtual tour and we both instantly fell in love with it. Put in an offer this morning, accepted this afternoon! This FIRE thing is definitely going to happen.
So exciting! I forget if you already said, what area are you moving to? Good luck finalizing the sale!
Thanks! We're headed to Bellingham, WA. Head is spinning with all of the things we have to manage over the next few months, between loans, taxes, down payments, cash flow, inspections, flying, fixes on the new place, fixes on the current place, listing/selling/moving, job transitions...but now we're definitely on the path, and I'm beyond excited for what awaits on the other side of this transition period.
Nice! I went through something similar last summer, moving from DC to Portland. It's quite the project! I made a Word document called "Master Plan Move to Portland" with a table of contents and checklists for each big thing that we needed to figure out. Great place to store all the crazy details like the verification number for my moving van street parking permit. Very satisfying to see it come together.
Post by: LightTripper on February 28, 2021, 01:42:09 AM
Post by: TheContinentalOp on February 28, 2021, 06:19:25 AM
Post by: American GenX on February 28, 2021, 10:45:25 AM
Then the next two days, my investments lost a half year of retirement spending.
Still waiting on the SCOTUS ACA decision before making any firm decisions.
Post by: phildonnia on March 01, 2021, 11:54:25 AM
Well, I got my anal probe exam out of the way, ...
Not to derail this thread, but I just turned 50 last month. So, catchup contributions to all my IRAs, planned FIRE in 3 months... oh, and my doctor emailed me a happy birthday, and mentioned that he was sending me some kind of self-exam and sample-collecting kit in the mail.
Exciting times ahead!
A topic that recurs repeatedly here (and which could probably be its own thread) is how much notice to give your work before retiring. I've given no clues that I'm planning to leave, and I don't seem too unsatisfied with work. So it's going to be a surprise at any timing. But I love all my co-workers (including the management), and I would go slightly out of my way not to bail on them without warning during a work crunch.
(Last time I "retired" about ten years ago, I took a two-week vacation, and returned and gave two weeks notice. Seems like a dick move now that I think about it. Nevertheless, the same company hired me back.)
My wife suggested that a month is appropriate. I was thinking two months, but I don't like long good-byes.
And to tell the truth; I'm a little afraid of the committment: if you say you're going to leave, then you have to leave. I'm having all the usual reservations, and so far nothing is actually real. Once I have that talk with my manager, there's no going back.
Post by: simmias on March 01, 2021, 12:30:15 PM
A topic that recurs repeatedly here (and which could probably be its own thread) is how much notice to give your work before retiring. I've given no clues that I'm planning to leave, and I don't seem too unsatisfied with work. So it's going to be a surprise at any timing. But I love all my co-workers (including the management), and I would go slightly out of my way not to bail on them without warning during a work crunch.
(Last time I "retired" about ten years ago, I took a two-week vacation, and returned and gave two weeks notice. Seems like a dick move now that I think about it. Nevertheless, the same company hired me back.)
My wife suggested that a month is appropriate. I was thinking two months, but I don't like long good-byes.
And to tell the truth; I'm a little afraid of the committment: if you say you're going to leave, then you have to leave. I'm having all the usual reservations, and so far nothing is actually real. Once I have that talk with my manager, there's no going back.
I've settled on four weeks. I've seen two (good) employees at my company give longer notice than that, and they were both miserable by the end. Management didn't start moving on any preparations for them leaving until the last minute regardless, and then piled on requests and demands on them at the last minute. Not for me.
I have the same hesitations as you - once I have that "talk" with my manager, it's real. I'm past the point of worrying about whether I have enough money, and I'm beyond burned out - but it's a scary last step to take.
It doesn't help that I tried to quit four years ago and they talked me back into it. I must be stronger this time, LOL!
And, like American GenX, I should be smart and wait for definitive ACA knowledge, but at this point I'm thinking if the unlikely scenario unfolds where the Supreme Court does something awful, there are enough votes in Congress to remedy it. Maybe wishful thinking, maybe not, but I'm ready to pull the damn plug!
Post by: JoJo on March 01, 2021, 01:06:21 PM
I'm also thinking about 4 weeks. That puts in in the time frame of announcing early June, should have a better handle on where COVID is going. Because of my part time schedule, I'll only have about 15 working days left to spread out over the last 4 weeks but give them a little more time if questions come up. I have a unique job that I really think the company could do without my role for an extended period of time if they really wanted to... part of the reason I'm quitting.
Post by: tipster350 on March 01, 2021, 02:33:39 PM
Post by: nazar on March 01, 2021, 05:17:14 PM
Sent from my SM-G892U using Tapatalk
Post by: dblaace on March 01, 2021, 08:12:26 PM
I've got a Dr. and FP appointment tomorrow that I may have to factor in to everything as well.
Post by: Arbitrage on March 01, 2021, 11:07:54 PM
That's wonderful! Fingers crossed it all goes smoothly from here. Does the listing get taken down now your offer is accepted? How does it work with surveys and conveyancing and stuff in the US - is that usually straightforward?
Nothing straightforward about real estate transactions in the US, and plenty of opportunities for the sale to fall through after signing. The listing stays up, but most people won't search through listings that are pending or under contract.
Post by: LightTripper on March 02, 2021, 04:52:38 AM
Post by: asauer on March 02, 2021, 06:48:02 AM
I've been trying to figure out how long to give notice also. The scope of my job and a seasonal business I feel like I need to give as much notice as possible. Maybe up to 6 months. We have 2 seasons, April-July and September-December. So it's difficult to decide exactly when I'll retire. I was thinking December 31 -vacation days but that would be before the end of the season in mid Dec probably. If I say that maybe get an guarantee if I work till the end of the season I get a payout of any unused vacation & holidays. I carried over 80hrs and lost more than 80 last year.
I've got a Dr. and FP appointment tomorrow that I may have to factor in to everything as well.
If you give that much notice, just be aware that if you're in the US (looks like you're in TX), the company can choose to terminate your employment at any time. So if you give 3 months notice they could just walk you out. If you're ok with that then go for it but it is a possibility.
Post by: Arbitrage on March 02, 2021, 07:58:16 AM
Will keep everything crossed for you then! I think actually listings tend to stay up here too, but agents usually won't give viewings or accept rival offers once it's under offer (and you can actually make it a condition of your offer to have the listing taken down). Housebuying is fraught here too. I guess it is just a genuinely complicated transaction.
Thanks! We just had the inspection (waiting for the report) and I'm frantically working on the mortgage side of things, which are probably the two big things we need to get through. The appraisal, too, but since we're putting in a very hefty down payment I'm not too worried there.
Agreed that for all of the crazy complications behind homebuying, you can at least see (most of) the logic behind it.
Post by: dblaace on March 02, 2021, 01:59:29 PM
I've been trying to figure out how long to give notice also. The scope of my job and a seasonal business I feel like I need to give as much notice as possible. Maybe up to 6 months. We have 2 seasons, April-July and September-December. So it's difficult to decide exactly when I'll retire. I was thinking December 31 -vacation days but that would be before the end of the season in mid Dec probably. If I say that maybe get an guarantee if I work till the end of the season I get a payout of any unused vacation & holidays. I carried over 80hrs and lost more than 80 last year.
I've got a Dr. and FP appointment tomorrow that I may have to factor in to everything as well.
If you give that much notice, just be aware that if you're in the US (looks like you're in TX), the company can choose to terminate your employment at any time. So if you give 3 months notice they could just walk you out. If you're ok with that then go for it but it is a possibility.
I'll be ready. It's unlikely they would do something like that but they've been know to do things against their best interest.
Dr. appt: Not going to die this year, not going to live forever.
FP appt: I'm covered either way.
Post by: Dreamer40 on March 02, 2021, 04:37:45 PM
My director replied with a “best wishes and thank you.” Not even a phone call or exit interview or anything.
It’s been interesting to see who responded to the email. My closest colleagues already knew. Other people I worked with on various projects over the years sent nice emails. But random people who never talked to me in the 11.5 years I worked there suddenly got nosey and wanted to know what new job I was taking. I told those people I’m taking a break and haven’t made any plans yet. But I hear that the truth that I’m actually retiring is starting to circulate. They probably assume I have a trust fund.
So that’s it. One more day. Tomorrow I will respond to any more replies from colleagues, then pack up my work property in a fedex envelope and drop it off. There’s a liquor store across the street from fedex, where I will buy the rum I need to make pina coladas. I bought a new blender as a quitting present to myself. Solely for the purpose of making pina coladas and margaritas. I’d planned on having a big retirement party someday but a blender will have to do! These are strange days.
Post by: the_fixer on March 02, 2021, 05:02:25 PM
Tomorrow is my last work day. I sent an email around to the office today to the let everyone know. I could have just walked away and people would have never known what happened to me. Most departing people send a farewell email with their personal email address so colleagues can stay in touch. But some people simply vanish.Congratulations
My director replied with a “best wishes and thank you.” Not even a phone call or exit interview or anything.
It’s been interesting to see who responded to the email. My closest colleagues already knew. Other people I worked with on various projects over the years sent nice emails. But random people who never talked to me in the 11.5 years I worked there suddenly got nosey and wanted to know what new job I was taking. I told those people I’m taking a break and haven’t made any plans yet. But I hear that the truth that I’m actually retiring is starting to circulate. They probably assume I have a trust fund.
So that’s it. One more day. Tomorrow I will respond to any more replies from colleagues, then pack up my work property in a fedex envelope and drop it off. There’s a liquor store across the street from fedex, where I will buy the rum I need to make pina coladas. I bought a new blender as a quitting present to myself. Solely for the purpose of making pina coladas and margaritas. I’d planned on having a big retirement party someday but a blender will have to do! These are strange days.
A little tune to see you out
https://youtu.be/TazHNpt6OTo
Sent from my iPhone using Tapatalk
Post by: MoStash on March 02, 2021, 05:14:48 PM
There’s a liquor store across the street from fedex, where I will buy the rum I need to make pina coladas. I bought a new blender as a quitting present to myself. Solely for the purpose of making pina coladas and margaritas. I’d planned on having a big retirement party someday but a blender will have to do! These are strange days.
Congratulations! Enjoy that new blender!
Post by: ScreamingHeadGuy on March 02, 2021, 06:54:45 PM
Tomorrow is my last work day. I sent an email around to the office today to the let everyone know. I could have just walked away and people would have never known what happened to me. Most departing people send a farewell email with their personal email address so colleagues can stay in touch. But some people simply vanish.
My director replied with a “best wishes and thank you.” Not even a phone call or exit interview or anything.
It’s been interesting to see who responded to the email. My closest colleagues already knew. Other people I worked with on various projects over the years sent nice emails. But random people who never talked to me in the 11.5 years I worked there suddenly got nosey and wanted to know what new job I was taking. I told those people I’m taking a break and haven’t made any plans yet. But I hear that the truth that I’m actually retiring is starting to circulate. They probably assume I have a trust fund.
So that’s it. One more day. Tomorrow I will respond to any more replies from colleagues, then pack up my work property in a fedex envelope and drop it off. There’s a liquor store across the street from fedex, where I will buy the rum I need to make pina coladas. I bought a new blender as a quitting present to myself. Solely for the purpose of making pina coladas and margaritas. I’d planned on having a big retirement party someday but a blender will have to do! These are strange days.
So glad to hear you’ve made it to the finish line.
Post by: Chaplin on March 02, 2021, 07:52:18 PM
Tomorrow is my last work day....
So glad to hear you’ve made it to the finish line.
Indeed! Congratulations!
Post by: fiStressRelief on March 02, 2021, 08:00:13 PM
Notice period ended up being about 7 weeks, which was a tad long. By the end, I had so many various levels of goodbye with various groups of people that it was a general sense of 'Oh you are still here?' from some.
The goodbyes do tend to trend formulaic. Someone says something nice, the other person says something nicer. We agree we both enjoyed working together. We exchange contact info and then move on to do it again. Still, I tried to be as sincere as possible and not reuse niceties.
As I continued through this process, I moved to referring to my departure as a semi retirement. I am amazed with the general awareness the average coworker had of FIRE and I had two people mention MMM, which was cool and sparked some good conversations.
Started my ACA app the other day. Got through the eligibility part and I think so far so good. Next step is to finalize the exact plan. I still have a big checklist of other items to call and figure out. Good thing I don't have a j*b taking up all my time now. I don't think the reality has really set in yet, maybe in a week or two.
Sent from my Pixel 3a XL using Tapatalk
Post by: The 585 on March 03, 2021, 06:41:38 AM
Started my ACA app the other day. Got through the eligibility part and I think so far so good. Next step is to finalize the exact plan. I still have a big checklist of other items to call and figure out. Good thing I don't have a j*b taking up all my time now. I don't think the reality has really set in yet, maybe in a week or two.
Congrats! Jealous of all you guys retiring on the earlier end of the month so you qualify for the ACA subsidies. Sadly I can't pull the plug until May due to being on an overseas contract... so I'll have to figure out coverage for the rest of the year.
Post by: Arbitrage on March 03, 2021, 08:09:40 AM
Post by: sailingTowardsFI on March 03, 2021, 02:12:39 PM
I am planning to work (very) part-time at a fun job this summer that aligns with my hobbies, and then do some traveling later in the year. I'm so so excited.
When I gave notice, I talked about the part-time job this summer, the traveling, and with certain people I mentioned that I'd been feeling burnout and need a break. Given all the stress of COVID times, I think people get that. Several have commented that they are jealous, have thought about doing something similar, or want to do something similar.
I've been with the same employer for 20 years, almost half my life. I have so many emotions right now. I'm nervous about the huge leap, though I know we have a good plan, but mostly I just can't wait to start the next chapter!
Post by: Mrs. Healthywealth on March 03, 2021, 03:31:06 PM
Your updates keep me going with the plan. I waivered this morning, thinking maybe instead of quitting I just work 10hr/wk to fulfill my main duties, and do that till end May. But, the whole purpose of 3/29 being the last day is to see what it’s like not to work for a significant period of time. Meeting with an insurance agent to help navigate health coverage, think once that’s done there will be relief. Health insurance coverage is the last hurdle to figure out. Not much else to do.
Post by: Mrs. Healthywealth on March 03, 2021, 03:36:29 PM
I've been with the same employer for 20 years, almost half my life. I have so many emotions right now. I'm nervous about the huge leap, though I know we have a good plan, but mostly I just can't wait to start the next chapter!
Totally feel you! It is a huge leap, appreciate you mentioning being nervous, helps normalize the process. Think to FIRE, by nature we are savers and planners, and we have been doing it so long, that changing gears can be anxiety provoking, as any change can be. But this is a big one, especially if you’ve been employed there for 20yrs. It’s going against the norm and everything we’ve been taught is the natural progression of life. But, since I imagine you have planned like crazy, the plan will take its course and you will adapt as expected. You got this!
Post by: Dreamer40 on March 03, 2021, 04:33:54 PM
The first few hours feel amazing so far. I'll get a nice takeout dinner in a few hours from a place that makes fancy desserts. I'm downloading a Nintendo Switch game called "A Short Hike." Maybe I will go for an actual walk in the real world as well.
Post by: JoJo on March 03, 2021, 05:23:54 PM
Post by: SunniD on March 04, 2021, 08:04:55 AM
Thanks for all the kind wishes! I turned in my badge and am officially out. I will pop back here to update occasionally and root you all on. You've all got this!
The first few hours feel amazing so far. I'll get a nice takeout dinner in a few hours from a place that makes fancy desserts. I'm downloading a Nintendo Switch game called "A Short Hike." Maybe I will go for an actual walk in the real world as well.
Congrats!
And your celebration plans sound perfect to me!
Post by: stealthwealth on March 04, 2021, 04:15:36 PM
We owe $65k on our house at 2.5%, which we'll pay off in 2034 or whenever our cash surpasses $2.2M, otherwise no debt.
I think our target for FIRE is around $2M liquid (leaving $200k for house remodel/repair update job), but I'm posting in the 2021 cohort because I realize maybe $2M after home reno isn't necessary as much as I like the idea of 4.5% being $90k.
I'm 42 and my wife is 40, and our combined current income is about $120k if you factor in insurance benefits. She's a freelance writer, and I probably could do freelance design work part time if I wanted to. United States.
Really just interested in peoples' thoughts. How close are we? What am I missing?
Post by: sailingTowardsFI on March 04, 2021, 07:21:09 PM
Thanks for all the kind wishes! I turned in my badge and am officially out. I will pop back here to update occasionally and root you all on. You've all got this!
The first few hours feel amazing so far. I'll get a nice takeout dinner in a few hours from a place that makes fancy desserts. I'm downloading a Nintendo Switch game called "A Short Hike." Maybe I will go for an actual walk in the real world as well.
Congratulations! I saw your FU story and it's great to see another fed on here leaving early! That sounds like a lovely celebration, and please keep us updated on your new life!
Post by: shuffler on March 04, 2021, 08:04:55 PM
we're sitting on about $1.5M net worth (1.35 is cash)(https://memegenerator.net/img/images/16646866/breaking-bad-cash-bed.jpg)
What am I missing?What's your plan for all that cash?
Post by: Blindsquirrel on March 05, 2021, 04:49:01 PM
Post by: Well Respected Man on March 05, 2021, 08:24:02 PM
I'm back from about 8 weeks off, immediately into the frying pan. During my time off, we signed a purchase and sale agreement to sell our current house at our asking price less 5% representing commission that we don't have to pay, and most importantly, as-is. We passed the inspection, and I guess their bank wants to do an appraisal. It's strange how the appraisals always seem to exactly match the sale price, how does that work?
We also rented a nice, small apartment in town, so I can really be about town now. We move in less than a month, so we've been getting rid of tons of stuff. One friend called our house minimalist, but she hasn't seen what's been coming out of the storage areas lately!
I thoroughly enjoyed my time off, even though I did not get to go skiing for the whole time -- or even once -- as planned. Well Respected Woman said she liked retired me so that's a great sign for the next few years, as she keeps working.
At work, my team was reorged into a different role, which means no layoff for me ( I usually count a reorg as no layoffs for a year). I got a raise, and only a small stock incentive, thankfully, so no temptation to OMY. My plan is to stick around for two more stock vesting quarters, plus the semi-annual ESPP purchase. Together, those will net me enough to pay the final year of college for my daughter, so it seems like an appropriate plan.
However, it will be sooo tempting to quit once we get the cash from the home sale in our pockets. Like put the check in the bank, let it clear, move it to the brokerage, start putting it in the market, and peace out. We'll see how it goes, but for now, I'm moving my date up by a month to 8/6/2021. My wife drew a calendar for me with different colors and shapes for days off, weekends, and workdays, and I put it on the wall right behind my monitor. Only 109 more work days, max!
Post by: exit2019 on March 05, 2021, 10:09:20 PM
Still in, but not until later. At least I'll get to see what happens to ACA first.
Post by: amberfocus on March 06, 2021, 01:10:11 AM
I didn't give a notice of resignation, though; I actually asked for a long sabbatical (6 to 12 months) -- far longer than the employee handbook says I'm allowed to get (3 months). I'm absolutely ready to walk if it gets turned down, and I half-expect to be turned down, but I figured it doesn't hurt to keep doors open in case I change my mind about retirement. (And having work continue to subsidize my health insurance for a bit longer is also not a bad deal given continuing ACA uncertainty. Even three months of additional coverage is better than nothing.)
My manager was surprisingly supportive of my sabbatical request, which I did not expect, given how much he is dependent on my output. But I suspect he already knew deep down that the writing was on the wall after I burned to a flaming crisp last year. I can tell that he desperately wants to retain me, but is clearly worried that standing in the way, or making additional asks (such as finishing certain projects that might be tricky to transfer), might exacerbate the aforementioned burnout, and drive me out sooner. Which is not wrong.
My desired end date is the third week of May, which was designed around maxing out my 401(k) and mega backdoor, as well as collecting a final quarterly 401(k) match. I was trying to hold off divulging the date in order to demonstrate flexibility regarding the transition, but I caved after being asked multiple times. Nothing is official until it's escalated to and approved by upper management and HR, who may yet veto everything, but the biggest step -- letting the cat out of the bag -- is done.
So... two-and-a-half more months to go. The finish line is in sight! The relief is palpable.
Post by: ScreamingHeadGuy on March 07, 2021, 11:29:09 AM
I've got your updates @sailingTowardsFI and @exit2019.
Nice to hear you're operating from a position of strength @amberfocus (and it seems you are ready to use FU money if need be).
Sorry (but not really sorry) my activity has been less as of late, but I'm "busy" being retired. This past Friday (3/5) was supposed to have been my last day of work so I guess it's an appropriate time to look back on how my 6 weeks of "early FIRE" have gone. To give a brief summary "I did absolutely nothing, and it was everything that I thought it could be."
There was a lot of busywork - transferring the 401(k), transferring the HSA (which was held-up due to incompetent payroll), getting ACA health insurance, and filing for unemployment (since I was technically let go). Turns out the filing for unemployment will probably be a huge boon to me due to the recent federal legislation's impact on ACA insurance policies' premium subsidies being based on 150% of FPL for those who'd filed an unemployment claim - that will save us $3300 in premiums this year and allow us to capture some capital gains without worrying about its impact on our subsidies.
I filed my 2020 taxes and helped my father file his (he just needs the help with e-filing). My effective federal income tax rate was in the low 2% and my state income tax rate was in the upper 2%. Somebody please tell me how income taxes are too high again (/sarcasm).
My standard weekday routine has become: exercise, breakfast, walking the daughter to school, exercise (inside while watching YouTube videos - something comedy or educational - or reading news), being productive time (running errands, cleaning, whatever needs doing), computer game time (I'm catching-up on games I've had but never finished, and replaying some that I just really liked), lunch (usually while watching more YouTube), reading on the recliner with the dog on my lap, fall asleep on the recliner with the dog on my lap, walk to get daughter from school, father/daughter time, make supper (I've tried a few new recipes and have even started using my wife's Instant Pot - well it's 50% mine), and then the evening-activity du-jour.
Weekends have become way more laid-back. I don't feel the need to try to cram everything into those two days; if there's anything I want to do or needs doing I can take care of it from 9-3 M-F.
I still check the indices every few days and calculate invested net worth every 2 weeks - some old habits die hard I guess. Maybe I'll be less focused on this once all my funds have transferred and are re-invested.
I've volunteered/applied to be an elections inspector in our City because I've got the time and I figure it's another way to help the community. Yes, it's a paid position (8-16 hours every few months @$9/hr) but I think it's small enough the Internet Retirement Police don't come after me.
Post by: FarFetchd on March 07, 2021, 02:30:55 PM
Post by: Blindsquirrel on March 07, 2021, 07:27:25 PM
Post by: Mrs. Sloth on March 07, 2021, 07:41:16 PM
Post by: 2Birds1Stone on March 08, 2021, 02:46:26 PM
We're not exactly FI if we stay in the USA, so hesitant to give up the income without a better plan B.
Congrats to all 2021 FIREes
Post by: icebox92 on March 08, 2021, 05:32:25 PM
Post by: asauer on March 08, 2021, 05:38:13 PM
Well I officially gave my notice... I had dropped a large hint to my supervisor (who is also my mentor / advocate) a few Friday's back and he asked that I give him 6 months notice if / when I decide to leave (my date was 4/30/21). Upon seeing my reaction he asked for 4 months. So I settled and told him officially today that I really will be pulling the plug, and gave him 3 months notice by pushing my date back from 4/30/21 to 6/4/21. Which happens to be my birthday as well. So happy birthday / retirement day to me. I feel relieved, scared, oddly normal, and full of guilt. Right now the guilt is the hardest part for me. I have only worked for this company, and have had a fantastic 15 year career. The company has been absolutely amazing and like family. I am also one of very few women here / in the industry an I feel like I am letting so many of the younger women down. I'm the most senior female in my district, and there are very few of us in any leadership roles... I'll have to continue to work through these feelings, what is done is done.
Congratulations! Regarding the feeling guilty, don't. Part of the misogynistic society we live in makes it so that one woman represents all women. That doesn't happen to men but every woman is somehow automatically the example for her gender. So dont' worry. You do you. Also, if you want to talk about an example- how about a badass woman who got her financial sh*t so much in order that she is retiring early! That's a pretty freakin' strong example!
Post by: exit2019 on March 08, 2021, 06:49:28 PM
I've volunteered/applied to be an elections inspector in our City because I've got the time and I figure it's another way to help the community. Yes, it's a paid position (8-16 hours every few months @$9/hr) but I think it's small enough the Internet Retirement Police don't come after me.
In my experience, people often don't respect things they get free, whether objects or people (volunteers, unpaid interns, etc.). So it's actually better that it is paid, even if minimally. The single best piece of career advice I ever got was "you have to make them pay." That can (as I demonstrate) be a bit of a trap if you are some combination of lucky and good, but even so.
Anyway, just the act of getting things set up enough that it is possible to pay their "volunteers" puts a very substantial filter on basic unprofessionalism and exploitation.
Post by: monarda on March 08, 2021, 08:31:46 PM
Post by: simmias on March 09, 2021, 09:26:03 AM
Post by: Mrs. Sloth on March 09, 2021, 09:39:59 AM
There's nothing better than hearing about all the annoying projects coming down the pipeline later in the year when you secretly know you won't have to be around to deal with them.
#Truth
Post by: tipster350 on March 09, 2021, 10:04:45 AM
There's nothing better than hearing about all the annoying projects coming down the pipeline later in the year when you secretly know you won't have to be around to deal with them.
#Truth
Oh my word, YES!
I feel such relief!
Post by: anotherAlias on March 09, 2021, 11:39:20 AM
Post by: Peter Parker on March 09, 2021, 04:34:20 PM
There's nothing better than hearing about all the annoying projects coming down the pipeline later in the year when you secretly know you won't have to be around to deal with them.
My wife and I are leaving on the same day--May 7th. We have both been working from home. I came out of my office and saw her in a Zoom meeting...She was glowing with the biggest smile on her face. And then I heard her say, "Remember, I won't be there to help with this project. Who is going to do it?" And then on the other end, I heard an "Oh, yeah...Hmmm." She looked at me and gave me a thumbs up. Later we talked about how relieved we are to know we no longer have these things nagging us in the back of our brain...It is like the burden is slowly being lifted :-)
Post by: Mrs. Healthywealth on March 09, 2021, 05:26:31 PM
Well I officially gave my notice... I had dropped a large hint to my supervisor (who is also my mentor / advocate) a few Friday's back and he asked that I give him 6 months notice if / when I decide to leave (my date was 4/30/21). Upon seeing my reaction he asked for 4 months. So I settled and told him officially today that I really will be pulling the plug, and gave him 3 months notice by pushing my date back from 4/30/21 to 6/4/21. Which happens to be my birthday as well. So happy birthday / retirement day to me. I feel relieved, scared, oddly normal, and full of guilt. Right now the guilt is the hardest part for me. I have only worked for this company, and have had a fantastic 15 year career. The company has been absolutely amazing and like family. I am also one of very few women here / in the industry an I feel like I am letting so many of the younger women down. I'm the most senior female in my district, and there are very few of us in any leadership roles... I'll have to continue to work through these feelings, what is done is done.
Congratulations! Regarding the feeling guilty, don't. Part of the misogynistic society we live in makes it so that one woman represents all women. That doesn't happen to men but every woman is somehow automatically the example for her gender. So dont' worry. You do you. Also, if you want to talk about an example- how about a badass woman who got her financial sh*t so much in order that she is retiring early! That's a pretty freakin' strong example!
Yes!!! What a great way to put it in perspective. Well said
Post by: Mrs. Healthywealth on March 09, 2021, 05:39:51 PM
Just get very confused when administrators don't focus on taking care of their workforce.
Post by: Trifle on March 10, 2021, 03:50:36 AM
I just got told that our new boss's boss believes that maternity leave and FMLA is really the only reason anyone should take a month off...ummm seriously!!! We are in the business of taking care of people's well-being, so why aren't we taking care of those that work within the business. This shit would've pissed me off big time and probably kept me up a few nights, except them cancelling my 1 mos vacation to 2 weeks, doesn't really mean anything since I don't intend to return.
Just get very confused when administrators don't focus on taking care of their workforce.
Yeah, that's the US for you. In 25 years of working I never had a vacation longer than 2 weeks. (Did 2 weeks once, and had to get special permission which was very grudgingly granted). In those years I had two babies, and I had to be back to work promptly, full time, 6 weeks later even through I was breastfeeding. Don't get me started -- It's total bullshit. It'll be interesting to see whether this changes culturally and legally in the coming years.
Congrats on your retirement!
Post by: Ladychips on March 10, 2021, 05:03:40 AM
Oh yes!There's nothing better than hearing about all the annoying projects coming down the pipeline later in the year when you secretly know you won't have to be around to deal with them.
#Truth
Oh my word, YES!
I feel such relief!
I have to have a running mental dialog "don't smirk, don't laugh, don't shrug, don't mock..."
Post by: Arbitrage on March 10, 2021, 07:57:32 AM
I also found out that my new part-time, fully remote work situation has been officially approved, and it was announced at a large staff meeting, so no going back now! I thought it had been approved previously, but apparently there were still levels of management that hadn't yet signed off.
Post by: LightTripper on March 10, 2021, 09:14:35 AM
I'm still on my 60% time (so working 3 days a week on average - though in practice it's spotty and some weeks are busier than others). We're currently going through bonus/comp season and there is all the usual drama, so I'm waiting for that all to blow over and then will talk to my boss about reducing my base hours further (20% average) from May.
Work is much better at 60% but not good enough to make me think I should stick there rather than reducing further. At 60% I still consider myself employed. At 20% I'll consider myself more retired than not retired. Suspect I will take the final step to 0% within the next year or two.
Post by: icebox92 on March 10, 2021, 12:52:52 PM
Well I officially gave my notice... I had dropped a large hint to my supervisor (who is also my mentor / advocate) a few Friday's back and he asked that I give him 6 months notice if / when I decide to leave (my date was 4/30/21). Upon seeing my reaction he asked for 4 months. So I settled and told him officially today that I really will be pulling the plug, and gave him 3 months notice by pushing my date back from 4/30/21 to 6/4/21. Which happens to be my birthday as well. So happy birthday / retirement day to me. I feel relieved, scared, oddly normal, and full of guilt. Right now the guilt is the hardest part for me. I have only worked for this company, and have had a fantastic 15 year career. The company has been absolutely amazing and like family. I am also one of very few women here / in the industry an I feel like I am letting so many of the younger women down. I'm the most senior female in my district, and there are very few of us in any leadership roles... I'll have to continue to work through these feelings, what is done is done.
Congratulations! Regarding the feeling guilty, don't. Part of the misogynistic society we live in makes it so that one woman represents all women. That doesn't happen to men but every woman is somehow automatically the example for her gender. So dont' worry. You do you. Also, if you want to talk about an example- how about a badass woman who got her financial sh*t so much in order that she is retiring early! That's a pretty freakin' strong example!
Thank you for this... It helps. I will continue to keep this in perspective. It is difficult as there are so few of us, its hard to not feel like the representative. I work for a large national general contractor. While there are large increases of women in architecture / engineering roles, women in actual construction are still a rarity... Regardless your words are spot on.
Post by: Mrs. Healthywealth on March 11, 2021, 09:55:01 AM
I just got told that our new boss's boss believes that maternity leave and FMLA is really the only reason anyone should take a month off...ummm seriously!!! We are in the business of taking care of people's well-being, so why aren't we taking care of those that work within the business. This shit would've pissed me off big time and probably kept me up a few nights, except them cancelling my 1 mos vacation to 2 weeks, doesn't really mean anything since I don't intend to return.
Just get very confused when administrators don't focus on taking care of their workforce.
Yeah, that's the US for you. In 25 years of working I never had a vacation longer than 2 weeks. (Did 2 weeks once, and had to get special permission which was very grudgingly granted). In those years I had two babies, and I had to be back to work promptly, full time, 6 weeks later even through I was breastfeeding. Don't get me started -- It's total bullshit. It'll be interesting to see whether this changes culturally and legally in the coming years.
Congrats on your retirement!
That’s crazy and yes total bullshit! Hoping that it will change, makes no sense for it not to improve.
Thank you
Post by: Need2Save on March 11, 2021, 12:57:44 PM
It was very difficult to restrain myself not to let my boss know of my pending departure but I have one more bonus coming I don't want to jeopardize. Should be able to let the cat out of the bag in about four weeks.
Post by: tipster350 on March 11, 2021, 01:28:32 PM
In what should be a happy stream of 'lasts', today was the final annual performance review received and given! Yay! hopefully will never have to be on the receiving or giving end of another BS PM discussion ever again! So wrong in countless ways.
It was very difficult to restrain myself not to let my boss know of my pending departure but I have one more bonus coming I don't want to jeopardize. Should be able to let the cat out of the bag in about four weeks.
I had mine this week also! I am thrilled to see that part of my life done and over with! I offered literally no commentary. I thanked boss for the comments and signed the form. My bonus arrives 3/15. Looking forward to that, too.
Post by: highlandterrier on March 12, 2021, 12:50:40 AM
In what should be a happy stream of 'lasts', today was the final annual performance review received and given! Yay! hopefully will never have to be on the receiving or giving end of another BS PM discussion ever again! So wrong in countless ways.
It was very difficult to restrain myself not to let my boss know of my pending departure but I have one more bonus coming I don't want to jeopardize. Should be able to let the cat out of the bag in about four weeks.
No-one in my company is receiving any bonus this year due to the virus for the first time in my 25 odd years there. On the upside this allowed me to freely tell everyone a lot earlier than I would have otherwise been comfortable with. Swings and roundabouts!
Post by: Ottawa on March 12, 2021, 04:23:48 AM
Right @Lews Therin ?
Post by: Ladychips on March 12, 2021, 04:53:31 AM
Post by: Ottawa on March 12, 2021, 10:40:08 AM
I`m sorry, but you can`t hand type something. That's what I`d take out of that meeting, and set your paperwork on fire. I`m an excellent manager.
the action or skill of writing something by means of a typewriter or computer.
"they learned shorthand and typing"
writing produced by typing.
"five pages of typing"
Oh come on. It's Classic!
Post by: simmias on March 12, 2021, 01:28:33 PM
I've been rehearsing the conversation and will have notes in front of me. I'm nervous as fuck and the evil part of my brain is trying to talk me out of it. "What if some new life-changing technology comes out that you suddenly can't afford?" "What if the economy goes to shit and all the precautions you had in place for that don't mean shit because of some new craziness?"
This is normal, right? I'm beyond ready to move on from this job both mentally and financially, but that fearful voice inside is trying to get me to delay. I think I've been institutionalized - 18 years at this job has done a number on me.
Post by: ScreamingHeadGuy on March 12, 2021, 06:37:57 PM
I'm trying to psyche myself up to actually give my notice on Monday with an end date of April 9.
I've been rehearsing the conversation and will have notes in front of me. I'm nervous as fuck and the evil part of my brain is trying to talk me out of it. "What if some new life-changing technology comes out that you suddenly can't afford?" "What if the economy goes to shit and all the precautions you had in place for that don't mean shit because of some new craziness?"
This is normal, right? I'm beyond ready to move on from this job both mentally and financially, but that fearful voice inside is trying to get me to delay. I think I've been institutionalized - 18 years at this job has done a number on me.
Simmias - yes, these are normal thoughts and I'm sure I'm not alone in saying it's something I had experienced, too. It's part of our human brain's development (loss aversion). Once upon a time it's what kept our hunter/gatherer ancestors from killing themselves off. But now it just keeps us up at night worrying or second-guessing ourselves.
How do you stop that little voice? You tell it "I've got a plan. I've double-checked my plan. I've got a backup plan." You repeat that until you know that is the truth and the little voice can go screw.
Post by: ScreamingHeadGuy on March 12, 2021, 06:41:47 PM
So far we have 81 folks here who will be FIRE in 2021 and 5 have gone OLY into the 2020 Cohort.
Average age of 2021ers is 45.40 (based on those 63 members who provided an age at FIRE date). 2020 average age was 48.32. 2019 average age was 47.38.
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Post by: texxan1 on March 13, 2021, 03:05:48 AM
1,192,000 Vanguard brokerage
1,121,000 Fidelity 401k
389,123 Company pension ( lump sum)
325,000 Cash in savings and checking account
$3,027,000 Liquid net worth
with this, we have my toys and a paid for vehicle, house , boats etc.............
This decompression thing is real... Im kinda bored lol but learning to relax more.....
Post by: dblaace on March 13, 2021, 06:44:07 AM
Thinking about contacting some recently retired people I know and could probably trust.
Post by: marty998 on March 13, 2021, 11:52:18 AM
I'm wondering how to find out what the companies retirement policies are without tipping your hand about retiring? There is nothing in the employee handbook.
Thinking about contacting some recently retired people I know and could probably trust.
Applies more to government jobs than non-government jobs, however in a few organisations (including mine) some people have been around so long and are well respected enough that they can negotiate their own terms, including payouts of incentive plans that would otherwise lapse (but it would have to be a “genuine” retirement, and you can’t just high tail it to a competitor).
Case by case basis is always on the table if you are good enough.
Post by: MoStash on March 13, 2021, 03:01:17 PM
Post by: Aethonan on March 15, 2021, 12:32:20 PM
Post by: rightstuff on March 15, 2021, 02:01:16 PM
I thank everyone in this cohort as well as the forums for helping us define our needs and wants and plan this all out. Now we just need to hold the course to June 1st!
Cheers!
Post by: Peter Parker on March 16, 2021, 09:27:09 AM
My last day of work is scheduled for May 7th. I had a chance to work 3 more weeks for an additional $8900 dollars. That sounded like a lot for three weeks....and was so tempted to accept, but then said to myself "F it. I have enough."
I am at peace, ready to exit, and start a new chapter, knowing I have enough...I'm ready to FIRE.
Post by: JoJo on March 16, 2021, 11:40:13 AM
I had a little money dilemma...then I remembered that I had "enough."
My last day of work is scheduled for May 7th. I had a chance to work 3 more weeks for an additional $8900 dollars. That sounded like a lot for three weeks....and was so tempted to accept, but then said to myself "F it. I have enough."
I am at peace, ready to exit, and start a new chapter, knowing I have enough...I'm ready to FIRE.
Thanks for this reminder. This morning a good friend is trying to convince me to work thru the summer as I'll be staying with my parents those months... but it just isn't worth the stress/boredom. I want to do volunteer work, help out my parents, garden, hobbies. I hate this gray cloud over me.
Post by: Ladychips on March 16, 2021, 02:14:15 PM
I had a little money dilemma...then I remembered that I had "enough."
My last day of work is scheduled for May 7th. I had a chance to work 3 more weeks for an additional $8900 dollars. That sounded like a lot for three weeks....and was so tempted to accept, but then said to myself "F it. I have enough."
I am at peace, ready to exit, and start a new chapter, knowing I have enough...I'm ready to FIRE.
Thanks for this reminder. This morning a good friend is trying to convince me to work thru the summer as I'll be staying with my parents those months... but it just isn't worth the stress/boredom. I want to do volunteer work, help out my parents, garden, hobbies. I hate this gray cloud over me.
+1 to you both!!
Post by: amberfocus on March 17, 2021, 08:10:05 AM
Finally had The Talk with my manager. CT announcing the move to a purely age-based vaccine rollout last week removed a major blocker in that it is no longer relevant to be an essential worker in order to qualify for vaccination under phase 1c. And then multiple additional projects got dumped on my head in the past week alone, which I took as the universe tacitly telling me that it was past time to do some hard managing of expectations, before even more stakeholders were impacted.
I didn't give a notice of resignation, though; I actually asked for a long sabbatical (6 to 12 months) -- far longer than the employee handbook says I'm allowed to get (3 months). I'm absolutely ready to walk if it gets turned down, and I half-expect to be turned down, but I figured it doesn't hurt to keep doors open in case I change my mind about retirement. (And having work continue to subsidize my health insurance for a bit longer is also not a bad deal given continuing ACA uncertainty. Even three months of additional coverage is better than nothing.)
My manager was surprisingly supportive of my sabbatical request, which I did not expect, given how much he is dependent on my output. But I suspect he already knew deep down that the writing was on the wall after I burned to a flaming crisp last year. I can tell that he desperately wants to retain me, but is clearly worried that standing in the way, or making additional asks (such as finishing certain projects that might be tricky to transfer), might exacerbate the aforementioned burnout, and drive me out sooner. Which is not wrong.
My desired end date is the third week of May, which was designed around maxing out my 401(k) and mega backdoor, as well as collecting a final quarterly 401(k) match. I was trying to hold off divulging the date in order to demonstrate flexibility regarding the transition, but I caved after being asked multiple times. Nothing is official until it's escalated to and approved by upper management and HR, who may yet veto everything, but the biggest step -- letting the cat out of the bag -- is done.
So... two-and-a-half more months to go. The finish line is in sight! The relief is palpable.
Update: Just had The Talk with HR. They are verbally greenlighting the requested sabbatical from third week of May through the end of the year, with written confirmation coming in the next few weeks. The feared veto by upper management did not materialize. I honestly thought they would play hardball, but it appears that they are not. Perhaps my crippling burnout has made me too cynical (or sufficiently telegraphed my lack of bluff-ery that they dared not refuse?).
I would literally be walking away with everything I wanted -- employer-subsidized health insurance for the rest of this year while ACA status is in flux (my income is too high for subsidies), final stock options vesting in December, and even a pro-rated bonus (I was NOT expecting that; it might actually throw a wrench into my plan to qualify for Medicaid next year, heh #MustachianPeopleProblems). It almost (I said almost) makes me feel bad that I plan to resign afterwards unless FIRE goes horribly sideways. The problem is that they really need to hire a replacement, but they won't do that (or at least not a low level temp) if they think I'm coming back.
My transition time starts now. :) I have two months... which feels simultaneously way too long, and not long enough. But I can truck on for two more months.
Furthermore, the SO, who was super gung-ho about not retiring, has been making noises that after the dust settles on Covid, his WFH situation, and my FIRE, he might see if he can drop his hours down by 20%. Baby steps!
Post by: ScreamingHeadGuy on March 17, 2021, 03:50:39 PM
Post by: simmias on March 18, 2021, 02:28:25 PM
I just finished having "the talk" with my boss. She was ridiculously cool about it and it honestly made me have more respect for her. We ended up talking for about 30 minutes.
I didn't end up spilling the beans that I don't really need the job financially, but I was honest about the other reasons I was making the change (finding my passion, spending more time with family), and she respected them.
I still have to talk to the head of HR tomorrow and then break the news to the people I work with directly, which I am not looking forward to, but this was a huge burden off my shoulders and I feel pretty fantastic right now.
Post by: pdxvandal on March 18, 2021, 03:03:29 PM
Post by: simmias on March 18, 2021, 04:07:44 PM
"Spending more time with my family." That resignation excuse sounded way better pre-Covid. Someone had joked about this on another thread recently. Good luck with your early retirement!Ha! It's true, though. It's family in another state who I haven't seen in a year and who I don't know how much time I'll have to see going forward.
Post by: Mrs. Healthywealth on March 18, 2021, 04:24:31 PM
Can I get updated on the list? Age 47, last day 4/16/2021, confirmed!
I just finished having "the talk" with my boss. She was ridiculously cool about it and it honestly made me have more respect for her. We ended up talking for about 30 minutes.
I didn't end up spilling the beans that I don't really need the job financially, but I was honest about the other reasons I was making the change (finding my passion, spending more time with family), and she respected them.
I still have to talk to the head of HR tomorrow and then break the news to the people I work with directly, which I am not looking forward to, but this was a huge burden off my shoulders and I feel pretty fantastic right now.
Yay! congrats Simmias!
Post by: anotherAlias on March 18, 2021, 06:14:55 PM
Post by: asauer on March 19, 2021, 03:15:36 PM
After today's work bullshit, I'm pretty much calling it done next month barring something drastic happening. The thread about burnout has been a wake up call. I can't keep living like this. The stress is going to kill me. I have a Dr appt on 4/1 that I'd like to get taken care of before I quit and go the ACA route. After that I'm planning on taking the rest of the spring and summer to work on relaxing and my on well being.
Good for you for prioritizing your mental health. I hope you can rest and get back to being you.
Post by: OmgLmg on March 20, 2021, 06:55:25 AM
My last day will be April 16. I am so relieved and excited, I don't really have words for it.
I was incredibly anxious in the lead-up to talking with my boss, but it went as well as I could expect. Telling my direct coworkers was hard, but not in the same way. I am very fortunate that the people I work with are amazing folks who have become friends outside of work as well. Because of that, none of them were too surprised since they'd seen the burnout and all agreed that I need to do what is right for me. I did not fully tip my hand that I'm retiring, as I'm young for that and didn't want to get into those detailed conversations. I just said that I need a break and am fortunate enough to be able to choose to take one and that I don't see myself ever doing the 40+ hrs a week corporate-type work again. Many of my coworkers know the general gist of my financial situation, so I'm sure they can read between the lines of that.
There was some discussion of contract work in the future, which I'm not opposed to - it's a great organization with great people. But I doubt that will ever really materialize, so I'll just consider that if it ever comes up. There are some parts of the job I love, so if they want me to contract a very small amount for only those things in the future, I'd certainly consider it.
Thank you so much to everyone who has posted in this thread - reading your stories, hearing your concerns, etc has helped so much in the last few months as I approached this huge life change. I don't post much, but I read often and get so much value from everyone sharing.
Post by: MoStash on March 20, 2021, 10:20:58 AM
Then they made a few announcements that didn't sit well with me, and before getting too stressed about it I realized that I don't have to deal with this.
That's a great feeling! Congratulations!
Post by: simmias on March 20, 2021, 01:05:45 PM
It's official for me! I gave notice this week, sooner than planned but I was only holding out for some slightly more convenient things for work. Then they made a few announcements that didn't sit well with me, and before getting too stressed about it I realized that I don't have to deal with this.
My last day will be April 16. I am so relieved and excited, I don't really have words for it.
I was incredibly anxious in the lead-up to talking with my boss, but it went as well as I could expect. Telling my direct coworkers was hard, but not in the same way. I am very fortunate that the people I work with are amazing folks who have become friends outside of work as well. Because of that, none of them were too surprised since they'd seen the burnout and all agreed that I need to do what is right for me. I did not fully tip my hand that I'm retiring, as I'm young for that and didn't want to get into those detailed conversations. I just said that I need a break and am fortunate enough to be able to choose to take one and that I don't see myself ever doing the 40+ hrs a week corporate-type work again. Many of my coworkers know the general gist of my financial situation, so I'm sure they can read between the lines of that.
There was some discussion of contract work in the future, which I'm not opposed to - it's a great organization with great people. But I doubt that will ever really materialize, so I'll just consider that if it ever comes up. There are some parts of the job I love, so if they want me to contract a very small amount for only those things in the future, I'd certainly consider it.
Thank you so much to everyone who has posted in this thread - reading your stories, hearing your concerns, etc has helped so much in the last few months as I approached this huge life change. I don't post much, but I read often and get so much value from everyone sharing.
Congrats! I had almost the same experience and gave the same last day, lol. I was honestly worried that they were going to be mad at me for only giving a month (I must have been reading too many of the crazy people giving three months to half a year notice in the "how much notice" thread), but they were very appreciative for the month I gave.
Post by: skyrefuge on March 20, 2021, 04:22:13 PM
The wildest part of my transition: my (big) ex-company uses a social-media-like platform as its main internal communication tool. It has user-created, non-business groups, one of which is dedicated to Mustachian early retirement. I know, pretty awesome (and bold!) all on its own. But wait! Two weeks before my last day, I decided to make my first (and last) post there, announcing that I was at least one person succeeding at the group's goal (the company is pretty young, so many of the group members are earlier in the accumulation/apirational stage). Overnight, that post became the week's 4th most-liked post on the entire platform! Like, it was more popular than posts from VPs making cool announcements to the entire company! So MMM should be proud that his message, which in its purest form is targeted explicitly towards high-paid workers at a company like mine, has definitely been heard, and even celebrated, inside such companies.
In that vein, I was clear and upfront with everyone, both in my professional and personal life, about it being an explicit "retirement". And I haven't heard a single note of skepticism, cynicism, or jealousy. I think it was the most-liked post I've ever made on my personal social media too. Maybe some of that is because I've always been relatively open about my plans, and surely reactions will vary between people and companies, but my broad advice from my experience would be: feel free to be more up-front with people, you might be pleasantly surprised at the reactions! (not to mention I subsequently got a decent amount of questions from people newly-interested in Mustachian concepts).
Post by: mindfulrun on March 21, 2021, 08:48:45 AM
My bosses boss, however, wants to promote me and still give me "flexibility" (interesting since I'm currently in the "lean FIRE" window). I said I'm willing to entertain that, but only if we make significant changes to my work and allow for more time off. I'm waiting to see what they come up with now.
Either way, I'm making a drastic change in the coming weeks - I just can't keep this pace up any longer.
Post by: Much Fishing to Do on March 21, 2021, 09:54:22 AM
I gave my notice last week, but offered to stay on in a part time capacity if I could eliminate the pieces of work that are most stressful. My boss was very supportive, and didn't push back at all. I worked through how to notify my employees and customers, worked up the promotion paperwork for my replacement, and developed a transition schedule (with my replacement).
My bosses boss, however, wants to promote me and still give me "flexibility" (interesting since I'm currently in the "lean FIRE" window). I said I'm willing to entertain that, but only if we make significant changes to my work and allow for more time off. I'm waiting to see what they come up with now.
Either way, I'm making a drastic change in the coming weeks - I just can't keep this pace up any longer.
That's great. a couple years ago I transitioned my business into a another to get rid of the stresses and risks of being the owner. Now I work 20hrs/wk instead of 60 consulting for them, know my employees all still have jobs without depending upon me to continue killing myself, and I get a good steady hourly rate as opposed to wondering what side of the roulette wheel the next project will end up on. Though I already had enough to Fire comfortably, this definitely added some fat that I will thoroughly enjoy and has given me a good ramping down into RE (I discovered I needed more hobbies etc, as I haven't had free time for a couple decades so had lost most of them. I'm having fun finding new ones now).
Post by: Dicey on March 21, 2021, 01:16:47 PM
Here's another thought: You might be making room for another woman to move up and reach her goals.Well I officially gave my notice... I had dropped a large hint to my supervisor (who is also my mentor / advocate) a few Friday's back and he asked that I give him 6 months notice if / when I decide to leave (my date was 4/30/21). Upon seeing my reaction he asked for 4 months. So I settled and told him officially today that I really will be pulling the plug, and gave him 3 months notice by pushing my date back from 4/30/21 to 6/4/21. Which happens to be my birthday as well. So happy birthday / retirement day to me. I feel relieved, scared, oddly normal, and full of guilt. Right now the guilt is the hardest part for me. I have only worked for this company, and have had a fantastic 15 year career. The company has been absolutely amazing and like family. I am also one of very few women here / in the industry an I feel like I am letting so many of the younger women down. I'm the most senior female in my district, and there are very few of us in any leadership roles... I'll have to continue to work through these feelings, what is done is done.
Congratulations! Regarding the feeling guilty, don't. Part of the misogynistic society we live in makes it so that one woman represents all women. That doesn't happen to men but every woman is somehow automatically the example for her gender. So dont' worry. You do you. Also, if you want to talk about an example- how about a badass woman who got her financial sh*t so much in order that she is retiring early! That's a pretty freakin' strong example!
Post by: tipster350 on March 22, 2021, 09:37:53 AM
Post by: Ladychips on March 22, 2021, 11:00:51 AM
I gave notice today. My last day will be April 16. It was terrifying but I have done it!
Outstanding!!
Post by: logjammin on March 22, 2021, 03:32:41 PM
If anyone has suggestions on how to improve the goodbye email I'm sending on Wednesday, please chime in. I work in an office environment of professionals in what is considered a stuffy profession. I'm a middle manager type and already known as a bit of a clown, and the people at my company are generally great people, so I think this will go over well with most folks, and for those who it doesn't, oh well!
Spoiler: show
Post by: FIRE Artist on March 22, 2021, 04:59:17 PM
And congratulations on the move to Guatemala, I greatly enjoyed the month I spend there 10 years ago.
Post by: Arbitrage on March 22, 2021, 05:01:17 PM
Still can't believe it's coming up for me; I still have so much to do with house purchase/fixing, house sale/fixing, decluttering, moving, work, trying to get vaccinated, and so on...but so looking forward to it. The good news is that we're steadily making progress on all of the hard tasks we identified, really per the plan I laid out many months ago. The amount of tasks ahead of us still seems overwhelming, but when I look back at what we've accomplished over the past 3-4 months, that's pretty staggering as well, so I know we're on track and actually past a lot of the "biggest rocks."
Post by: Mrs. Healthywealth on March 22, 2021, 10:12:09 PM
I can be updated to confirmed. My last day is this Friday (!!).
If anyone has suggestions on how to improve the goodbye email I'm sending on Wednesday, please chime in. I work in an office environment of professionals in what is considered a stuffy profession. I'm a middle manager type and already known as a bit of a clown, and the people at my company are generally great people, so I think this will go over well with most folks, and for those who it doesn't, oh well!
Congrats for Friday! Any plans on how you will celebrate? I'm leaving this Friday too, was also going to send out a goodbye email, but yours is way cooler and entertaining :) Best of luck to you!
Post by: Ottawa on March 23, 2021, 04:19:15 AM
16 March - Informed rest of team of resignation over video call. Although I had hinted to a number of people, there was some surprise for sure. There was shock at higher up levels - Directors etc. who expected I would be there for at least 11 more years! There were requests to exit interview. I politely declined for (many reasons).
19 March - Resignation accepted
I have around 3 working days left with all the leftover vacation etc prior to 16 April! Woohoo. I'm not doing any more work, per se, just filling a couple of bankers boxes with 15 years of work 'stuff'.
Post by: Dreamer40 on March 23, 2021, 11:44:16 AM
I'm here to report on my 3-week post-retirement life. I spent all 3 weeks staying much busier than I expected to. Time FLEW by. Organizing stuff around the house, gardening, cooking, cleaning, reading lots of books, etc. I finally stopped today and had a good ugly cry over the trauma my career inflicted on me and all the trauma I was surrounded with every day for all those years. Now I feel drained. I still keep a daily to do list and planner. I don't know when/if that habit will stop. But I don't think I'm going to do any of the stuff on today's list. Other than "assemble the hammock stand." Because then I can go lay down in it.
Post by: ScreamingHeadGuy on March 23, 2021, 06:51:18 PM
So far we have 81 folks here who will be FIRE in 2021 and 5 have gone OLY into the 2020 Cohort.
Average age of 2021ers is 45.42 (based on those 64 members who provided an age at FIRE date). 2020 average age was 48.32. 2019 average age was 47.38.
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Post by: HumanAfterAll on March 23, 2021, 09:28:27 PM
I'm done! (as of last Friday.) It's funny how much COVID-effects blurred the line between retired/not-retired for me. This week, as a retired man, I've done some mid-day walks/bike-rides/grocery-trips with my wife, and then spent a good bit of time in our home office messing around in front of a computer. Which is exactly the life I've been living for the last year anyway! Ok, so one of our bike rides was a bit longer than normal and took us to a brewery, but really, since I've been 100% WFH anyway, and my job was flexible enough to allow mid-day excursions even when I was working, very little has actually changed in my day-to-day existence. I think things would feel a lot different if I'd had a 2-hour daily commute at a job where I was constantly speaking with people; the transition would have been much starker (and maybe scarier!) in that case.
The wildest part of my transition: my (big) ex-company uses a social-media-like platform as its main internal communication tool. It has user-created, non-business groups, one of which is dedicated to Mustachian early retirement. I know, pretty awesome (and bold!) all on its own. But wait! Two weeks before my last day, I decided to make my first (and last) post there, announcing that I was at least one person succeeding at the group's goal (the company is pretty young, so many of the group members are earlier in the accumulation/apirational stage). Overnight, that post became the week's 4th most-liked post on the entire platform! Like, it was more popular than posts from VPs making cool announcements to the entire company! So MMM should be proud that his message, which in its purest form is targeted explicitly towards high-paid workers at a company like mine, has definitely been heard, and even celebrated, inside such companies.
In that vein, I was clear and upfront with everyone, both in my professional and personal life, about it being an explicit "retirement". And I haven't heard a single note of skepticism, cynicism, or jealousy. I think it was the most-liked post I've ever made on my personal social media too. Maybe some of that is because I've always been relatively open about my plans, and surely reactions will vary between people and companies, but my broad advice from my experience would be: feel free to be more up-front with people, you might be pleasantly surprised at the reactions! (not to mention I subsequently got a decent amount of questions from people newly-interested in Mustachian concepts).
Congratulations! I'm glad to hear you inspired the next generation of early retirees at work!
Post by: Mrs. Healthywealth on March 23, 2021, 10:52:29 PM
Congrats to everyone! There's been a lot of movement with folks finalizing their departures the past few weeks.
I'm here to report on my 3-week post-retirement life. I spent all 3 weeks staying much busier than I expected to. Time FLEW by. Organizing stuff around the house, gardening, cooking, cleaning, reading lots of books, etc. I finally stopped today and had a good ugly cry over the trauma my career inflicted on me and all the trauma I was surrounded with every day for all those years. Now I feel drained. I still keep a daily to do list and planner. I don't know when/if that habit will stop. But I don't think I'm going to do any of the stuff on today's list. Other than "assemble the hammock stand." Because then I can go lay down in it.
Truly appreciate you sharing this. Glad to hear that you took the time to soak in how the past years of your career impacted you. Hope there was relief at knowing you are capable of creating a healthy space for yourself.
Post by: LightTripper on March 24, 2021, 04:00:38 AM
My transition is going to be more gradual and therefore probably a lot less satisfying, but it's still very inspiring to watch you all bid your goodbyes and move on to brighter and better things!
Post by: simmias on March 24, 2021, 05:04:33 AM
I just finished applying for ACA - the Internet was not wrong about it being a confusing process! I had to delete the first application because I ended up with no subsidy after saying I'd have health insurance in April but not May.
My friend who got ACA coverage said he had to get a 15-day short-term policy because he didn't start the process soon enough, so I wanted to go ahead and get a jump on things. But it looks like I have until April 23 to finalize a May 1 policy, which seems extremely reasonable.
Post by: Abe Froman on March 24, 2021, 03:27:27 PM
This is my first time signing up to a FIRE Cohort - hope I am doing it right.
Now.... its out in the universe.
Now to develop what I am going to say to my boss (the CEO). I report to him, and plan on telling him in person - I think its the right thing to do. Phone call seems impersonal to me since I had been there 15 years, plus I want to keep the options open for the future.
It feels like I am jumping naked from a biplane into an ice cold lake.
Post by: simmias on March 24, 2021, 05:30:18 PM
Also, apparently me leaving has left some people at my workplace a little shaken. And although I only told two people (who I trust) that I didn't need the money anymore, I think other people have been putting the pieces together from what I'm hearing secondhand from some folks.
Post by: JoJo on March 24, 2021, 06:01:41 PM
Post by: traveler on March 25, 2021, 09:08:53 AM
Sign me and my wife up for 2021 as well! We’re both 36. My last day of work is May 3. Giving notice on April 15. I did let my manager know 7 weeks in advance as he’s my friend and I want the team to be prepared and to succeed.
My wife decided she wants to keep working part time a while longer, as she enjoys her work. She will take a 1 month break.
We’ll be moving out of beautiful California to a MCOL area we’re I’m from. We’re downsizing from a SFH to a super walkable apartment, and so we’re in the middle of the purge.
Wish you all successful FIREs!
Post by: ronsbusa3 on March 26, 2021, 08:48:36 AM
Post by: Blindsquirrel on March 26, 2021, 07:50:42 PM
Post by: RedefinedHappiness on March 27, 2021, 06:35:36 AM
I’m still on track for April 1st. Things have been crazy the last 2 weeks. I put my 2 weeks notice in on March 18th. My DW wife retired March 3rd the day before her 49th birthday. She contacted COVID-19 the 20th of March. She tested positive on March 22. I got tested the next day and was negative. I had the first Pfizer shot on March 15th. I notified my work on Monday the 22nd that my wife had a fever. I was sent home which was company policy and I totally agree with. Last night March 25th I had a cough and a 101 fever. From everything I read it takes 12-14 days after the first shot to offer protection. Long story short I might have worked my last day on March 22nd. Not the way I wanted to leave. Oh well.... waiting on call back from doctor to get second test.
My partner got the rona from our son 7 days after her first vaccine. It spread through our household. So as you probably already know, need that 14 days post vaccine for effectiveness.
Just wanted to comment that I hope you are experiencing mild symptoms and recovering ok. This virus is nasty. Also - one piece of advice. Be hyper aware of the potential ups and downs. The continued setbacks after feeling like you are recovering/recovered was demoralizing for me. It gets better. Just takes a while.
Post by: Mrs. Healthywealth on March 27, 2021, 09:03:02 AM
After a month off, I'll return to the office for a few hours to turn in my stuff and help them figure out whatever might have been missed. Plus, working that extra day provides me with another month of insurance that I won't have to pay for, after that the fam will go on my DW's insurance, and I'll go on COBRA. Honestly, insurance is the only big ticket concern I've had, but that's cause I have a medical condition.
Some moments it feels like I'm stepping off a cliff, forgetting there are safety nets to catch us. It's interesting how my brain perceives quitting my job as a threat to my safety. My rational thoughts recognize the wisdom in this decisions. There is this gnawing thought (silent scream) that's growing as a pan out and see how unhealthy my position was and how it impacted my health to such an extreme. I'm grateful to step away and not be part of a toxic system, and to think our program is probably one of the healthiest programs in this system...yikes
Looking forward to this next journey and making decisions to benefit my health and honor this life. Grateful to this forum for always providing feedback, accountability, and support! Love reading your stories
Post by: Dicey on March 27, 2021, 10:04:48 AM
Guess you can say I finished up my last day, celebrated with eating lots of yummy food.I think you will benefit from the healthcare changes included in the latest stimulus package. Check it out. Could save you some big bucks.
After a month off, I'll return to the office for a few hours to turn in my stuff and help them figure out whatever might have been missed. Plus, working that extra day provides me with another month of insurance that I won't have to pay for, after that the fam will go on my DW's insurance, and I'll go on COBRA. Honestly, insurance is the only big ticket concern I've had, but that's cause I have a medical condition.
Some moments it feels like I'm stepping off a cliff, forgetting there are safety nets to catch us. It's interesting how my brain perceives quitting my job as a threat to my safety. My rational thoughts recognize the wisdom in this decisions. There is this gnawing thought (silent scream) that's growing as a pan out and see how unhealthy my position was and how it impacted my health to such an extreme. I'm grateful to step away and not be part of a toxic system, and to think our program is probably one of the healthiest programs in this system...yikes
Looking forward to this next journey and making decisions to benefit my health and honor this life. Grateful to this forum for always providing feedback, accountability, and support! Love reading your stories
Post by: tipster350 on March 27, 2021, 01:53:44 PM
1. I moved the bookmark to my savings and investments tracking page off of its front and center location on the bookmarks bar and into "Other bookmarks". My final bonus is in my account, and from this point forward, I am *there*. My sheet is where it belongs, available for periodic review and update.
2. I deleted the bookmark for Ask a Manager. Bye-bye! I don't need you anymore!
Post by: ronsbusa3 on March 27, 2021, 02:12:17 PM
I noticed the ups and downs you speak of. My fever seems to come and go. Thanks for the encouragement. My wife is already feeling better. I guess I can’t wait to start enjoying this retirement. Just some bad timing for now.I’m still on track for April 1st. Things have been crazy the last 2 weeks. I put my 2 weeks notice in on March 18th. My DW wife retired March 3rd the day before her 49th birthday. She contacted COVID-19 the 20th of March. She tested positive on March 22. I got tested the next day and was negative. I had the first Pfizer shot on March 15th. I notified my work on Monday the 22nd that my wife had a fever. I was sent home which was company policy and I totally agree with. Last night March 25th I had a cough and a 101 fever. From everything I read it takes 12-14 days after the first shot to offer protection. Long story short I might have worked my last day on March 22nd. Not the way I wanted to leave. Oh well.... waiting on call back from doctor to get second test.
My partner got the rona from our son 7 days after her first vaccine. It spread through our household. So as you probably already know, need that 14 days post vaccine for effectiveness.
Just wanted to comment that I hope you are experiencing mild symptoms and recovering ok. This virus is nasty. Also - one piece of advice. Be hyper aware of the potential ups and downs. The continued setbacks after feeling like you are recovering/recovered was demoralizing for me. It gets better. Just takes a while.
Post by: Dicey on March 28, 2021, 09:49:09 AM
I made some changes to my bookmarks, reflecting my new phase in life.Changing bookmarks is a great way to denote the transition to FIRE! Congratulations!
1. I moved the bookmark to my savings and investments tracking page off of its front and center location on the bookmarks bar and into "Other bookmarks". My final bonus is in my account, and from this point forward, I am *there*. My sheet is where it belongs, available for periodic review and update.
2. I deleted the bookmark for Ask a Manager. Bye-bye! I don't need you anymore!
Post by: amberfocus on March 28, 2021, 10:57:25 AM
Badass update @amberfocus. I hope you take it easy these next two months before your sabbatical starts.
Aww shucks, thank you. :) I really appreciate the feedback and the well wishes (even if it did take me a bit on the long side to respond xP). It's probably still going to be a hard sprint to the finish, but I'm okay with that when the end is in sight. I'm used to hustling, and I'd like to leave on a positive note rather than senioritis-ing it to the end. But it is absolutely glorious to simply release the mental load of what's going to happen to this-or-that project after I leave. I was actually fretting about this to HR, and even HR was like, "But it's not your problem". That was a pretty sweet reality check from an unexpected source.
And who knows, maybe it will actually be easier. For the first time, my manager is aggressively turning down non-mission critical work on my behalf, instead of never saying no, and then piling everything plus the kitchen sink onto my plate. I need to prioritize cross-training others, and rushing that process won't help in the long run if it means they don't learn properly. The remaining work that I'm doing is so high priority/impact (or can only be done by me) that it's worth the last push, especially when I can actually fully focus on it, rather than having to constantly juggle multiple competing directives.
And since I am technically still holding out for a bonus... I'm caught in this ambivalent position where I still want to prove my value to maximize that final payout, but I also want it to be small enough to fit into an IRA so it doesn't mess up my ACA cashflow planning.
I was also talking to the SO, and he pointed out that I've never properly taken it easy in my whole life. I've always gone full bore in every single endeavor, from education to professional career to chasing FI. I'm the type of person who starts off jogging a little to get into shape, and wind up running a marathon (*cough*). Decompressing will be... an interesting experience. I've left myself an exit hatch just in case it goes poorly, but I'm looking forward to the next chapter where I have PLAAAAAANS for relaxing, LOL.
Post by: Mrs. Healthywealth on March 28, 2021, 04:03:25 PM
Guess you can say I finished up my last day, celebrated with eating lots of yummy food.I think you will benefit from the healthcare changes included in the latest stimulus package. Check it out. Could save you some big bucks.
After a month off, I'll return to the office for a few hours to turn in my stuff and help them figure out whatever might have been missed. Plus, working that extra day provides me with another month of insurance that I won't have to pay for, after that the fam will go on my DW's insurance, and I'll go on COBRA. Honestly, insurance is the only big ticket concern I've had, but that's cause I have a medical condition.
Some moments it feels like I'm stepping off a cliff, forgetting there are safety nets to catch us. It's interesting how my brain perceives quitting my job as a threat to my safety. My rational thoughts recognize the wisdom in this decisions. There is this gnawing thought (silent scream) that's growing as a pan out and see how unhealthy my position was and how it impacted my health to such an extreme. I'm grateful to step away and not be part of a toxic system, and to think our program is probably one of the healthiest programs in this system...yikes
Looking forward to this next journey and making decisions to benefit my health and honor this life. Grateful to this forum for always providing feedback, accountability, and support! Love reading your stories
Thanks Dicey, I will check it out!
Post by: tipster350 on March 30, 2021, 11:07:08 AM
Perhaps they should have allotted a better bonus and other rewards to show their appreciation all along.
Not that it would have stopped me from retiring.....
Post by: Peter Parker on March 30, 2021, 02:04:43 PM
The freakout over my impending retirement has begun at my place of work.
Perhaps they should have allotted a better bonus and other rewards to show their appreciation all along.
Not that it would have stopped me from retiring.....
I know this doesn't say much about me, but it does kinda feel good, right? :-)
Post by: tipster350 on March 30, 2021, 05:15:31 PM
The freakout over my impending retirement has begun at my place of work.
Perhaps they should have allotted a better bonus and other rewards to show their appreciation all along.
Not that it would have stopped me from retiring.....
I know this doesn't say much about me, but it does kinda feel good, right? :-)
Yes it does.
Post by: ronsbusa3 on April 01, 2021, 11:44:03 AM
Post by: Dreamer40 on April 01, 2021, 04:04:36 PM
I can’t believe this day has finally come. As of today April fools day, I’m officially retired from my job. I’m still in quarantine till Monday from COVID-19 so unable to Celebrate outside of the home. Now DW and I can start enjoying this next stage of our lives.
Yay! Congrats!!! I got out one month ago and am still at home. But it’s still so much better than working. I planted some things in my garden today, did the cleaning I used to have to do on the weekends, a load of laundry, a little cooking, and still have hours of time to lay in a hammock in the yard and eat popsicles. If you don’t own a hammock, I highly recommend getting one.
Post by: dblaace on April 01, 2021, 05:20:55 PM
I can’t believe this day has finally come. As of today April fools day, I’m officially retired from my job. I’m still in quarantine till Monday from COVID-19 so unable to Celebrate outside of the home. Now DW and I can start enjoying this next stage of our lives.Congrats!
Post by: Trede on April 02, 2021, 05:39:28 AM
Post by: tipster350 on April 02, 2021, 05:57:44 AM
Confirmed FIREd here as well, today is my first day waking up "retired." I feel like I'm just taking a staycation though... wonder when the reality shift will sink in.Congratulations!
Post by: dblaace on April 03, 2021, 02:49:19 PM
Don't know if I'll make it till the end of the year.
Post by: simmias on April 04, 2021, 06:15:14 AM
Post by: Dicey on April 04, 2021, 08:56:27 AM
Today is the second-to-last Sunday that will be ruined for me because of dreading Monday.Don't be alarmed. It might take a while for that feeling to pass. Many years of conditioning don't disappear overnight.
Post by: phildonnia on April 05, 2021, 02:28:50 PM
I'm fully expecting to continue having those bad dreams where you're unprepared or late with some work assignment.Today is the second-to-last Sunday that will be ruined for me because of dreading Monday.Don't be alarmed. It might take a while for that feeling to pass. Many years of conditioning don't disappear overnight.
Post by: Blindsquirrel on April 05, 2021, 03:40:29 PM
Post by: asauer on April 06, 2021, 06:48:58 AM
Today is the second-to-last Sunday that will be ruined for me because of dreading Monday.Congratulations!
Post by: Arbitrage on April 07, 2021, 01:33:31 PM
Even though we're only downsizing to coast-FIRE instead of full FIRE, I can't wait! We still have two awful tasks to get through with the interstate move and the house sale, but I'm confident that we can manage it after all of the major hurdles we've overcome so far. Perhaps I'll join a new cohort in the future for full FIRE, since that's still in the cards.
Post by: HumanAfterAll on April 07, 2021, 04:28:47 PM
(I'm actually burning up my paid time off for a few more days, so I'll get one more paycheck worth of HSA and FSA contributions - I recommend this vs. taking a cash-out)
After 15 years, I finally followed this advice: https://www.theonion.com/health-experts-recommend-standing-up-at-desk-leaving-o-1819577456
Sabbatical negotiations broke down when it was clear everyone really wants me back, but the company couldn't get out of its own way and make an exception to a maximum 2 month personal leave policy. Fine with me, now I'm completely free and I'll have a better negotiating position if I decide to come back part-time in the Fall. Plus I won't worry all summer about having to cancel an agreement. I'm not planning to go back, but I left on great terms and I'm keeping my options open. There are smaller companies starting up that might be more fun if I get bored, but I doubt it will come to that!
No more job, no more excuses! I am no longer Time Poor!
Monday, daycare was unexpectedly closed (teachers recovering from shot #2). I spent an entire beautiful day with my daughter at a park, flying kites.
Tuesday, neighbor (quaran-team) wasn't able to drop the kids off so I happily did it. Went grocery shopping mid-morning with no crowds, it was glorious. Went to the office, packed up my desk, shredded years of notes nobody will ever read, then stopped by some trails on the way home for a quick mountain bike ride!
Wednesday, was going to ski but the forecast wasn't great. Went for a 3 hour road bike ride instead, and it was wonderful.
My wife is happy and relieved. She's still working, but now she can sleep in a little later as I take over the role of Chief Domestique.
So far, so good! Thankful to have read Your Money Or Your Life and found MMM 10+ years ago. That 50% savings rate a decade ago, plus investment returns, did all the work!
Post by: Chaplin on April 07, 2021, 09:29:01 PM
So far, so good! Thankful to have read Your Money Or Your Life and found MMM 10+ years ago. That 50% savings rate a decade ago, plus investment returns, did all the work!
Awesome news, and impressive uptake on MMM given https://forum.mrmoneymustache.com/welcome-to-the-forum/mmm-turns-10/ ;-)
Post by: Malee55 on April 07, 2021, 11:40:50 PM
Post by: asauer on April 08, 2021, 06:30:49 AM
I have been reading this thread for a few days as I have just decided that this year is enough for me. I was going to work until I am 60 (2025). But about 1 month ago I just felt I could not last any more. So my current aim is to finish up in June. Which is a big relief for me to have made a decision. my aim is to have a couple of months break and then think about doing casual work. My husband wants to work for a few more years, so I will be doing some things with him and some things by myself.So excited for you! I was going to work until Feb 2022, then changed to Aug 2021 but its looking more like June as well. Just so tired of the BS.
Post by: anotherAlias on April 08, 2021, 03:10:52 PM
Dept management has decided that everyone needs to take a skill assessment and create a soft skills development plan...ugh. that went soooo well when we did it 8 yrs ago. There was also a renewed interest in Agile SAFE training and 'maturing' our procedures,. FWIW, we've been doing 'agile' for years and all that goes out the window when it's inconvenient for the business. I'm so fucking sick of all this bullshit.
I have my annual dr exam on Monday. Unless something concerning comes out of that or the stock market completely tanks, I thin I'm giving notice on Wed at my goal attainment review meeting. "Uh yeah I didn't send you my updated goals because I'm giving my notice". I wish my manager wasn't so nice or this could be a lot more fun.
Post by: Malee55 on April 08, 2021, 05:10:29 PM
I am definitely retiring FROM work, rather than TO anything. So now I need to think about what I will do with my extra time. After having a few months off to de-stress from work.
Post by: Chaplin on April 08, 2021, 10:27:19 PM
I am definitely retiring FROM work, rather than TO anything. So now I need to think about what I will do with my extra time. After having a few months off to de-stress from work.
I totally support retiring FROM something, even if you haven't decided the "TO what" part yet. Just because it's quotable to say that you need to retire TO something doesn't make it true. There's definitely a potential risk or problem if you don't figure out the TO part, but we sometimes need to be away from the FROM part to figure out the TO part.
Post by: Dicey on April 09, 2021, 01:02:26 AM
Amen. My first seven years of FIRE looked like nothing I had ever planned or imagined, but it was still way better than working at my old job.I am definitely retiring FROM work, rather than TO anything. So now I need to think about what I will do with my extra time. After having a few months off to de-stress from work.
I totally support retiring FROM something, even if you haven't decided the "TO what" part yet. Just because it's quotable to say that you need to retire TO something doesn't make it true. There's definitely a potential risk or problem if you don't figure out the TO part, but we sometimes need to be away from the FROM part to figure out the TO part.
Post by: tipster350 on April 09, 2021, 05:24:43 AM
I am definitely retiring FROM work, rather than TO anything. So now I need to think about what I will do with my extra time. After having a few months off to de-stress from work.
I totally support retiring FROM something, even if you haven't decided the "TO what" part yet. Just because it's quotable to say that you need to retire TO something doesn't make it true. There's definitely a potential risk or problem if you don't figure out the TO part, but we sometimes need to be away from the FROM part to figure out the TO part.Amen. My first seven years of FIRE looked like nothing I had ever planned or imagined, but it was still way better than working at my old job.
We have an obsession in the USA with having to DO DO DO and be productive every minute, every day, and it is killing us. It is killing me. The way I see it, the last thing I need is to commit to activities that I might not want to do. I'm exhausted to my bone from DOING. Planning planning planning. That is what I need to leave behind until I am decompressed and well-rested, and have had a chance to see what interests me when I am good and ready. There are many possibilities so I don't worry that I will end up sitting on the couch for the rest of my life.
Post by: sailingTowardsFI on April 09, 2021, 08:33:40 AM
Post by: Peter Parker on April 09, 2021, 09:03:31 AM
My last day was today, and I have officially ended my career in a cubicle! On to outdoor pursuits, time to do the activities I find meaningful! I haven't figured out how I'll structure my days yet, but I know they'll involve more exercise and I have a long to-do list! Today has been a jumble of emotions though, especially saying goodbye to coworkers that I will miss. Change is hard, but I'm excited for all of the tomorrows to come!
Congratss! On to a new chapter!
Post by: Dreamer40 on April 09, 2021, 11:23:03 AM
My last day was today, and I have officially ended my career in a cubicle! On to outdoor pursuits, time to do the activities I find meaningful! I haven't figured out how I'll structure my days yet, but I know they'll involve more exercise and I have a long to-do list! Today has been a jumble of emotions though, especially saying goodbye to coworkers that I will miss. Change is hard, but I'm excited for all of the tomorrows to come!
Congrats!!
I totally agree with the comments above that we don’t need to retire “to” anything. The lack of a plan or new mega life purpose is perfectly great. I’m 37 days into retirement and still adjusting to the idea that things don’t need to be perfect and I don’t need to check off a to do list to feel ok each day. DH still works (at home) so I made Thursdays my “housewife” day where I clean and have a little more feeling of needing to do stuff (plus the sense of accomplishment from doing it). My workouts have been getting more enjoyable since I don’t feel like I need to wrap it up and get back to my work email. My sleeping is becoming better. I feel more patient with the people around me. And I’ve read a lot of books. I’m getting vaccinated tomorrow and look forward to doing a little more outside the house soon. Like I could go sit on a brewery patio with a book on a Friday afternoon. And start doing more stuff with extended family. I keep an eye for part time jobs that I think would be fun, but I haven’t seen any yet that sound remotely worthwhile. I don’t miss my job AT ALL or have any regrets about leaving.
Post by: The 585 on April 09, 2021, 02:46:50 PM
Post by: Need2Save on April 10, 2021, 08:07:29 AM
DH's last day will be April 30. My tentative last day is May 21 (I agreed to possibly help out a little after if they haven't made progress in finding a replacement. This only makes sense since I'm not that busy right now, still working from home, and it's sort of a light time of year with work load so is pretty easy for me - and easy money right now). BTW...We are both 48.
I appreciate everyone's comments about having 'something to retire to'. My personal plans are very vague, other than travel more, exercise more, spend more time with family. I'm not locking myself in to certain hobbies or interests and want freedom to see what the world presents to spark my creative side. As an ultra-planner, this is putting myself outside my comfort zone and I'm actually enjoying the uncertainty for a change.
To celebrate my giving notice, I took several 'company swag' clothing items that I will never wear again (and likely never wore in the first place) like logo shirts and socks, and cut them up into rags...Cleaned the toilets, dusted with them, etc. It was cathartic. I'm also having fun declining meeting invites for future dates and deleting emails I don't have to bother with. Lastly, I passed on some of my work clothes to a niece who is working in an office for the first time this summer. Some basics to help her establish her work wardrobe.
Congrats to those that recently took the plunge!
Post by: ScreamingHeadGuy on April 10, 2021, 09:54:41 PM
So far we have 91 folks here who will be FIRE in 2021 and 5 have gone OLY into the 2020 Cohort.
Average age of 2021ers is 45.88 (based on those 66 members who provided an age at FIRE date). 2020 average age was 48.32. 2019 average age was 47.38.
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Post by: ScreamingHeadGuy on April 10, 2021, 10:03:46 PM
Here's a call-out to folks on the list who haven't confirmed or given an update on their status (and are maybe enjoying retirement too much to post): @fireflye , @Buffaloski Boris , @dreams_and_discoveries , @TheContinentalOp , @logjammin , and @Jack0Life (for the wife).
I've been busy these past few weeks - clearly there isn't enough time in the day for a retired person to do what he wants and needs to do. With the weather clearly moving into spring (although I'm holding out for a late blizzard) my days are likely to get even more productive as I add outside-the-house work to my list of "want to accomplish".
I hope you still-working folks are keeping it together as you make your way to the exit. Don't worry - the post-work life is swell.
Post by: highlandterrier on April 11, 2021, 01:59:02 AM
Also in the retiring from camp as opposed to retiring to, personally I need a decompression period to regain some perspective on life before I can move on.
Post by: JoJo on April 11, 2021, 07:15:55 AM
Post by: Malee55 on April 11, 2021, 04:06:36 PM
I keep waiting for my mind to get over the panicky "I must get out of here" feeling, and just settle into working for the last few months. But I have lost any interest in doing the job. For the last 30 years being a nurse has been part of me. Now I just want to leave. Thankfully I really like all my colleagues so going into work is not horrible, but definitely not fulfilling anymore.
Post by: LightTripper on April 11, 2021, 04:19:51 PM
I am now already down to my 24 hour work week, but I have to admit that it still doesn't feel very retired :)
Therefore, can I change my date from April to July in the next update? That's the latest point at which I hope (and in fact need, given I'll have no childcare once school/nursery breaks up for summer :) ) to be doing really minimal amounts (averaging 1 day per week at most) and I'm hoping that will feel a lot more like retirement!
Though even 24 hours a week is a big improvement on 50+, I have to say, and means more sleep, less stress, fewer late nights and being (somewhat) more on top of the rest of life. I'm hoping cutting hours more and hopefully some more freeing up of life post-Covid will really help feeling the benefits of FIRE come early summer!
Post by: tipster350 on April 12, 2021, 12:25:44 PM
Am I the only one who thinks this last year or so could not have worked out better??? I am knocking on wood right now not to jinx myself...Here's how things have worked out thus far:
1. A year and half ago, I found myself with some extreme leverage--I had a job opportunity that would have been a slight raise and I leveraged that offer with my current employer to get a position that I wanted--but mostly to increase my retirement pay.
2. I got a huge increase in salary and something new to do, which was fun, but not something I could sustain long term.
3. Covid hit, and I no longer needed to go to work--or do the crappy stuff that came along with the new position. I got to work from home, didn't need to commute, and no longer needed to deal with drama of in-person stuff at work. I got to make my own hours, got stuff done around the house, and saved nearly $400 per month in gas (long commute).
4. Because of Covid, they allowed us to bank extra vacation, which has allowed me to sell it all back when I hang it up.
5. I just got my second vaccine--and the world seems to be opening up.
I had an opportunity to hang on for 3 weeks for an extra 9K, but decided it was time to go...Now I have 25 days and 5 hours before I exit. I feel like the stars are aligned to make this a great....Both my wife and I are leaving on the same day. I think it is going to be glorious. I've got lots of plans, but I am also looking forward to exploring anything that may spark my interest along the way....
How have you felt leading up to your exit?
I am totally confused between this and your other thread. I can't understand what your situation is at all. In any case, glad the last year turned out well for you. Financially it worked out for me, and I am thankful because so many others suffered financially, but I can't feel too happy because the year brought a great deal of pain and loss.
Post by: Mrs. Healthywealth on April 12, 2021, 02:40:47 PM
What's interesting is that my time has been taken up by random things, making the days pass quickly. What I'm doing doesn't have any significant purpose or direction, and that in itself is significant, especially for folks like us who are very goal and purpose driven. In fact, the art of doing nothing requires a lot of mindfulness. The planner and go-getter in me is trying to understand what happening right now.
Hope all of you get a chance to pause and soak up the sun. Enjoy!
Post by: Aethonan on April 12, 2021, 02:44:59 PM
@Mrs. Healthywealth -- very much enjoying the chance to pause and soak up the sun. :)
Post by: Malee55 on April 12, 2021, 05:45:46 PM
Post by: anotherAlias on April 13, 2021, 06:25:54 AM
Post by: asauer on April 13, 2021, 11:28:07 AM
So far I've been surprised by the reactions of people that I've told that I'm intending to retire this month. So far everyone has been excited for me and congratulated me. There was one guy that I haven't know as long as the others that was congratulatory but then started questioning me. What about insurance? Won't you get bored? What are you going to do with your time? He's a very high strung, always has to be busy kind of person. He just couldn't believe anyone would be content with what I was detailing. He was happy for me but at the same time very confused. It was kind of comical. These were all people from outside of work. Tomorrow I'm giving my notice to my manager so we'll see what reactions I get from workmates. I'm expecting the people that I've worked the longest with to be supportive. I've always been pretty open about wanting to retire early and the guys have always seemed to accept that as my path in life. I'm not sure how the newer people will react. This could be interesting.
Good luck! Let us know how it goes!
Post by: Dreamer on April 13, 2021, 06:27:58 PM
Post by: Blindsquirrel on April 13, 2021, 08:50:35 PM
Post by: Trifle on April 14, 2021, 03:54:19 AM
@ScreamingHeadGuy Kindly place me on the honor roll as I waggled my bum at corporate America on 3/31/2021. Highly recommend it.
Hey hey! Congrats @Blindsquirrel!!!!!!
Post by: Mrs. Healthywealth on April 14, 2021, 10:19:20 AM
Update on timing: Giving notice this week and will be out by July 1. Updated timing means I'll be 33 (not 32) when done. Feeling all the feelings. Best to those already out!
@Mrs. Healthywealth -- very much enjoying the chance to pause and soak up the sun. :)
Congrats! Hope you have a smooth ride till july 1st.
Post by: anotherAlias on April 14, 2021, 10:48:33 AM
Interestingly enough, our VP mentioned me retiring not long ago in a conversation that managers were having about the future of our department. He apparently had remember a crack I had made at my last anniversary lunch about retiring before I'm 50. I hadn't thought he had heard that part of the conversation but he did and filed it away for future consideration. It will be a scramble to find people to do my work but they can't say my announcement was completely unexpected.
I celebrated with a beer at lunch. Now I just need to do the HR paperwork, get the insurance straightened out and transition some of my work before I can call it officially done.
Post by: Chaplin on April 14, 2021, 12:39:21 PM
I celebrated with a beer at lunch. Now I just need to do the HR paperwork, get the insurance straightened out and transition some of my work before I can call it officially done.
Congratulations! And wow, notice on your last day? I sure would have loved that but it wasn't in the cards.
Post by: anotherAlias on April 14, 2021, 12:42:34 PM
No I gave 2 weeks notice. After giving notice the rest should be easier, though.I celebrated with a beer at lunch. Now I just need to do the HR paperwork, get the insurance straightened out and transition some of my work before I can call it officially done.
Congratulations! And wow, notice on your last day? I sure would have loved that but it wasn't in the cards.
Sent from my Pixel 4a using Tapatalk
Post by: Malee55 on April 14, 2021, 03:44:58 PM
Post by: lutorm on April 14, 2021, 04:19:14 PM
This was not in some long-term plan but mostly because of a giant bump in income over the past couple years. We're not REing at this point, but I'm trying to go part time.
Post by: Abe Froman on April 15, 2021, 05:31:35 AM
This will be NUTS as I have been tight lipped about it.
Hope I do not chicken out - I am pretty sure I won't, but the ball is rolling........right off a cliff !!!!!!!!!!!!!!!
This forum has been so helpful. Hopefully you guys will be there this afternoon when I am hyperventilating. LOL
Post by: asauer on April 15, 2021, 05:56:29 AM
Going in to verbally provide mu resignation to the President, my boss.
This will be NUTS as I have been tight lipped about it.
Hope I do not chicken out - I am pretty sure I won't, but the ball is rolling........right off a cliff !!!!!!!!!!!!!!!
This forum has been so helpful. Hopefully you guys will be there this afternoon when I am hyperventilating. LOL
Good luck! Go in there and have your own back. Can't wait to hear how it went.
Post by: dblaace on April 15, 2021, 06:07:18 AM
Going in to verbally provide mu resignation to the President, my boss.Good luck and congratulations!
This will be NUTS as I have been tight lipped about it.
Hope I do not chicken out - I am pretty sure I won't, but the ball is rolling........right off a cliff !!!!!!!!!!!!!!!
This forum has been so helpful. Hopefully you guys will be there this afternoon when I am hyperventilating. LOL
Post by: Ladychips on April 15, 2021, 07:48:26 AM
Going in to verbally provide mu resignation to the President, my boss.
This will be NUTS as I have been tight lipped about it.
Hope I do not chicken out - I am pretty sure I won't, but the ball is rolling........right off a cliff !!!!!!!!!!!!!!!
This forum has been so helpful. Hopefully you guys will be there this afternoon when I am hyperventilating. LOL
We are with you! And cheering you on!!!
Post by: Much Fishing to Do on April 15, 2021, 07:59:45 AM
Hope I do not chicken out - I am pretty sure I won't, but the ball is rolling........right off a cliff !!!!!!!!!!!!!!!
What are they gonna do, fire you? ;-)
Post by: simmias on April 15, 2021, 10:22:32 AM
One-and-a-half days until freedom!!!
Post by: Aethonan on April 15, 2021, 11:09:05 AM
Going in to verbally provide mu resignation to the President, my boss.
This will be NUTS as I have been tight lipped about it.
Hope I do not chicken out - I am pretty sure I won't, but the ball is rolling........right off a cliff !!!!!!!!!!!!!!!
This forum has been so helpful. Hopefully you guys will be there this afternoon when I am hyperventilating. LOL
Lol, I felt the same. Just gave notice yesterday and feeling so, so relieved now. I then proceeded to call everyone else at our small firm, enjoyed a sparkling rose (#superfrugal, lol), and celebrated with calls to family/friends and games with my SO.
I'm still working out the precise timing of my off-ramp, but the conversation itself (which was a combined call with all partners at my small firm) went way, waaaaay better than I expected. I explained that my departure is an indefinite break/sabbatical, and they said the door is always open to come back. As someone who struggles with closing any door, it feels good to know that, after a 6-month decompression, I can always take a look around and see if it makes sense to try a part-time something-or-other option. For context, my SO is still working part-time indefinitely, so I might end up feeling like doing the same for a while. We're pretty much Lean FI, so it's been our plan to have some kind of income for another few years doing fun/part-time projects. (We're both in our 30s, so the idea that we'll never make money again seems... unlikely!)
Thanks to all on this forum making this whole idea of leaving a perfectly decent job to try a new adventure seem sane!
Post by: EricEng on April 15, 2021, 01:35:44 PM
Done at 36!
Post by: Arbitrage on April 15, 2021, 02:58:12 PM
Going in to verbally provide mu resignation to the President, my boss.
This will be NUTS as I have been tight lipped about it.
Hope I do not chicken out - I am pretty sure I won't, but the ball is rolling........right off a cliff !!!!!!!!!!!!!!!
This forum has been so helpful. Hopefully you guys will be there this afternoon when I am hyperventilating. LOL
I usually think of myself as being rock solid in stressful situations, but I have to admit that the stress of all of our transitions has gotten to me recently. Stress-induced insomnia unlike anything I've ever experienced. We visited our new house for the first time, and had some unpleasant discoveries, culminating in a sleepness night listening to unfamiliar sounds in an empty, unfamiliar house with lots of needed maintenance, wondering if I made a terrible mistake.
Thankfully, we had a couple of friends there to help us through the stress, a lot of successful DIY repairs, not-insignificant sums of money paid to various contractors to get things spruced up, and a bit of Ambien, and everything started looking up again.
Post by: Malee55 on April 15, 2021, 04:54:49 PM
My husband does not want to retire even though he finds his job stressful But I figure that is his decision. He is the one trying to convince me to go casual rather than retire completely. I have not decided which way I will go, though staying casual means that if I get bored not working I have something to go to. Not that I expect to get bored.
We want to do a lot of maintenance work on the house this year and I was planning on continuing to work so I had an income while it was happening and in case it costs more than we anticipated. But then I decided I really do not want to stay there as I am exhausted and stressed. We have enough money saved to cover any stuff done on the house. And reading this forum made me look at our finances and just say to myself 'we have enough'.
Post by: Abe Froman on April 16, 2021, 09:47:15 AM
Going in to verbally provide mu resignation to the President, my boss.
This will be NUTS as I have been tight lipped about it.
Hope I do not chicken out - I am pretty sure I won't, but the ball is rolling........right off a cliff !!!!!!!!!!!!!!!
This forum has been so helpful. Hopefully you guys will be there this afternoon when I am hyperventilating. LOL
Good luck! Go in there and have your own back. Can't wait to hear how it went.
this be a long post - beware
OMG - nerve racking.
I have not told a soul my plan - whatsoever. I figured the right move was to tell my boss first and in person.
So here is how it went down.
I drove into the office - and it was barren as I expected. Odd to see - in that it was deathly quiet - almost like when I would go in on a Sat or Sun for an urgent project and no one else around. And people's cubes were still in place the way they left it, as if the cubes themselves were expecting their occupants to come back - just waiting.
Obviously due to COVID, still no one is in the office - except for one, my boss.
I knew he would be there. He is always there. No need to hit his cellphone - his desk phone always connects.
I went into my office with my backpack and a box - to gather some things. As I took a few things off my shelves I peeked down the hall to see if he was in. I walked down to his door and saw that his door was closed. Through the glass I saw he was on the phone.
Heart in my throat.
Went back to my office to pack up some more things - and brought one load down to the car.
On my return to the office I saw his office door open.
Ok - here we go.....(teeth gritting)
Walked into his office, said hi - simple pleasantries - and caught up on a few projects, some of which I play a part in.
Then I finished saying that look - with a lot of personal stuff I have going on including family concerns (he was aware of 1 or 2) and a current physical recovery issue I have been going through ... I could not provide the effort I would expect of myself. I needed to focus on the family and I was unsure as to how long it would take. I said for my sake and my family's sake I need take some time off, but I also I said this very hard decsion was for <Company's> sake (with whom I have been for 15 years) it would be best for someone else to take on these projects. Then I said I was giving my notice.
"wait...wait ....what did you say... what?"
I am resigning. I think its best for everyone.
These were the longest 5 seconds in recorded history. The deafening sound of vacuous space, breathing almost.
He was shocked.
I started to see him getting perturbed - when he asked 'well - why did you bring up these projects that you are a part in?' I stated that I wanted you to know that these efforts are at minimized risk, that there is a plan. I offered a name or two of individuals that could assist. He seemed to get it - but I think he was pissed not only that I sprung it on him How else does it go - I mean really? , but that I slow rolled it to the last topic.
Maybe I was a little chicken in doing so, but more importantly I wanted him to know that I was not leaving this company in the lurch, that this decision was very much for their benefit.
He did say that 'haven't we always been accommodating to employee's needs, in terms of flexibility, etc' --- and YES absolutely, this company has done more to support their people than any other I have known or read about. BUT - this was not about that. This was me needing to focus on the family for the immediate term - and I cannot say to you that I will be available for this and that and that project. Not fair to you, nor me.
He then asked if before we go through with it if I could look into any LOA option. I said I had not considered it - and that I will. Also said this is not a closed door whatsoever - that I hope I can come back in some capacity. I restated that I grew up with this company - learned a hell of a lot, and proud to be a part of that growth.
Still in shock - pregnant pauses
So I handed him the requisite letter of resignation - simple and short - no reasonings or flowery language.
And left, amicably I think, I hope.
Drive home ...
I called HR and let her know. shock - maybe some light cursing
She is going to look into options that would give me a LOA - but without the cost of COBRA-esque medical.
FMLA may be an option.
Once I figure this out - I will need to tell my direct reports, but big boss wants to form his plan first, which makes sense.
Want to share this news with some of my peers (other VPs/Directors) real bad - but need to wait until this approach gets ironed out. I get it. I don't want to burn any bridges.
But I keep looking at the phone waiting for the onslaught of texts and missed calls - presumably all starting with 'WTF !!!!!!' .... but they don't arrive yet. Maybe it is still safely under wraps.
But I NEEED to tell someone. Called wife but she is in the middle of getting her vaccine.
So I call my 75 year old sailing friend.
He is a great guy to bounce things off of. He is not surprised as we have been talking of my plan for years.
He agrees that better to do this now - when you can. Worse case - go back to work. The alternative of working until I am too frail or (too?) dead has no backup plan.
'I wish I had worked more' - said no one ever on their death bed.
At least that's my north star right now.
Now it is the next morning.....
... still waiting for a flurry of texts. Nothing yet. Maybe I am seeking congratulations, maybe some well wishes. It hasnt been 24 hours yet even.
I definitely have a weight lifted already. But something is still there, still pressing.
Maybe I am thinking the possible well wishes (or jealousy?) will remove that last pressing feeling. But its likely going to be time - time that proves to me and my wife that this is going to be OK.
I am still sitting here writing this and saying ' WHAT THE HELL DID YOU JUST DO !!!??? '.
Again - this tribe here has been so supportive through the whole process - and I am grateful.
So what is your plan???.....
I am going to research the FMLA option (which gives me leave at the current cost of medical - a low HSA). If I can get that - I will use it as a LOA and see where my head is at in 12 weeks to officially separate (meaning I would need to get on the ACA). Otherwise I will plan to hit the ACA to start June 1 - which means I need to get my application and paperwork in between 5/1 and 5/15.
Post by: Aethonan on April 16, 2021, 12:06:40 PM
'I wish I had worked more' - said no one ever on their death bed.
At least that's my north star right now.
Same. Awesome report Abe Froman -- you've got this.
Post by: Malee55 on April 16, 2021, 03:09:21 PM
Post by: tipster350 on April 16, 2021, 07:04:09 PM
Post by: Malee55 on April 17, 2021, 12:50:15 AM
Specific - I want to retire
Measurable - I will stop working
Achievable - I don't anticipate that I will have any difficulty not turning up to work
Relevant - it is relevant to my job as they will need to find a replacement
Time bound - by end of July
While I would love to do this, I have not mentioned to anyone at work that I am planning on finishing up this year. So at the moment I can only dream about this.
Post by: Much Fishing to Do on April 17, 2021, 06:48:00 AM
Congratulations Abe. You need to look after you and your family. And you are doing that.
Agreed. It sounds like your boss reacted exactly like someone who knows his job is better/easier with you around, his disappointment is real, but a real compliment, and whether you did this today or 5 years from now the reaction would be the same... unless he retired first....
Post by: OmgLmg on April 17, 2021, 06:51:31 AM
I gave 4 weeks' notice, and glad that I did. It turned a bit bumpy in that 2 other coworkers (team of 8) gave notice during that time as well (unrelated to my departure, just bad timing). I really like the organization I work for and my direct coworkers, so I agreed to do very small amounts of contract work to train one of the new folks when they get that role hired. They basically said any amount of work and schedule I'm comfortable with they'll take, so I've given them some pretty firm limits that I plan to stick to.
I don't think this will sink in until at least Sunday afternoon/evening when I get more time, but I'm so ready for this new era. So many thanks to everyone on this forum for making this crazy idea seem totally reasonable (which it is).
Post by: Trifle on April 17, 2021, 07:53:10 AM
Member of the 4/16 sub-cohort checking in. I completed my day, turned in my badge and laptop. My colleagues had many nice things to say. It's over! Or, rather, just beginning!
Congrats @tipster350 ! And wow, you're not kidding about the 4/16 sub-cohort. You guys rock! Welcome to the FIRE world. :)
Post by: Ladychips on April 17, 2021, 10:23:11 AM
Post by: Dreamer40 on April 17, 2021, 10:55:23 AM
@Abe Froman: I totally know that feeling of sitting there and waiting for the storm of messages. Most of my coworkers and supervisors were totally shocked I quit even though I’ve been explicitly telling them my plans for years. They apparently didn’t believe I was serious. When that flurry of messages came through, it was a lot of fun. 😆
We’ve had an unseasonably hot and dry spring in Portland so my garden is going bonkers. I’m having a great time puttering around out there caring for all my baby plants. It’s finally starting to look a little like the healing garden of my dreams. I spent hours yesterday reading about chickens and measuring potential areas in my yard where I could put a coop if I decide to do it. All my professional planning skills are still being put to good use, but now I get to fulfill my own dreams and not my employers’s!
Post by: Mrs. Sloth on April 17, 2021, 11:32:58 AM
When I first read about FIRE, I actually didn't think it was possible for me (I was making 40kish/ low 50kish 10/9 years ago) but I just kept putting in the work and so I feel like it is good for other ppl to see real life examples of ppl achieving 🔥.
Post by: simmias on April 18, 2021, 04:07:01 AM
One of my friends commented on how happy and positive I've been the last few days and was like "oh wow, I think I realize now why you're leaving."
The office did this going away thing over Zoom at the end of the day that I thought would be awkward and awful, but it was actually really nice. It made me remember why I stayed at that damn place for as long as I did - so many of the people I worked with are awesome. Unfortunately, the sociopath CEO is and was not awesome. Thankfully, she was nowhere to be seen for my going away party.
In any case, it still doesn't feel real yet. I was a little melancholy after the going away thing and actually was wondering if I made the right decision. But then I realized I can still see all of the people from my work who I want to, albeit not as easily as I could before, and that made me feel a lot better. And, of course, any thoughts of doing the actual work from that job make me feel like I'm going to break out in hives.
Post by: Ottawa on April 18, 2021, 04:54:55 AM
It was all rather a strange time to FIRE, with nobody meeting in person. I regaled some tales of yore over a Teams meeting; there was a toast of beer and a promise to have a proper farewell...some day...in the future.
I must say, due to the pandemic year, it was a little anticlimactic, but TBH that suited me just fine. The day I retired, we also started a 6 week stay at home order!
It took 3135 days or 103 months, after discovering the FIRE movement through MMM, to get to FIRE. What a fine line it was between randomly hearing about MMM being interviewed on local CBC radio; and not.
In the end; not only did we reach FIRE, we learned so much along the way about ourselves and how to look at everything around us through the lens of optimization and gratitude.
Post by: AO1FireTo on April 18, 2021, 12:24:37 PM
And..just like that. I am officially done. 16 April 2021 was my last day! FIRED at 49.
It was all rather a strange time to FIRE, with nobody meeting in person. I regaled some tales of yore over a Teams meeting; there was a toast of beer and a promise to have a proper farewell...some day...in the future.
I must say, due to the pandemic year, it was a little anticlimactic, but TBH that suited me just fine. The day I retired, we also started a 6 week stay at home order!
It took 3135 days or 103 months, after discovering the FIRE movement through MMM, to get to FIRE. What a fine line it was between randomly hearing about MMM being interviewed on local CBC radio; and not.
In the end; not only did we reach FIRE, we learned so much along the way about ourselves and how to look at everything around us through the lens of optimization and gratitude.
Love seeing fellow Canadians retire, congrats, 49 is pretty young too.
Post by: Malee55 on April 18, 2021, 05:05:57 PM
My original plan was retire when I get to 60, then this year I decided it would be the end of the year. Which became shortened to the end of October, then the middle of July. Now I am contemplating pulling the plug at the beginning of July, which is the new financial year.
I really like my coworkers, my boss is okay. But I am tired most of the time and I have lost any enthusiasm for my work. Every day is a struggle.
Post by: anotherAlias on April 19, 2021, 06:24:27 AM
Post by: simmias on April 19, 2021, 06:27:27 AM
Post by: anotherAlias on April 19, 2021, 06:50:20 AM
Are you sure your work coverage isn't through the end of the month? It seems kind of weird they'd kick you off the plan with three days to go.
Yep, I reviewed the plan documents after I chatted with 3 friends that used to work here. My company self-insures, so that might play into it.
Post by: tipster350 on April 19, 2021, 07:00:13 AM
It was the same at my employer. Coverage ends at midnight on your last day. I think coverage until the end of the month is becoming a thing of the past. They found another way to cut costs.Are you sure your work coverage isn't through the end of the month? It seems kind of weird they'd kick you off the plan with three days to go.
Yep, I reviewed the plan documents after I chatted with 3 friends that used to work here. My company self-insures, so that might play into it.
Post by: simmias on April 19, 2021, 07:10:10 AM
I'm pretty sure I did lose about a week and a half of vacation time, though, because I didn't remember that they changed the policy on vacation at end of employment about a year ago. Oops.
Post by: Aethonan on April 19, 2021, 11:21:21 AM
I really like my coworkers, my boss is okay. But I am tired most of the time and I have lost any enthusiasm for my work. Every day is a struggle.
@Malee55 you're not alone. When you start feeling that stuck-in-mud feeling each morning, setting goals for how to get through the morning, the afternoon, the next hour... it's time for a reset of SOME kind. I tried a 2-week vacation (and used that as motivation to "just make if a few more weeks!"), but found when I came back that I was as drained as before... if not more disengaged. That feeling you describe is what finally inspired me to just throw in the towel. You can also balance that concern about "do I really have enough for ever and ever" by treating it as a 6-12 month sabbatical. Maybe you really are just burned out and need a reprieve. You might, like it seems so many people do, feel renewed enthusiasm for projects that (shocker!) earn some money. It's not worth struggling through if you're wishing your days away.
Post by: Malee55 on April 19, 2021, 04:52:33 PM
I have 10 shifts to go until 4 weeks annual leave. Then I will reappraise how I feel.
Post by: moneypitfeeder on April 19, 2021, 06:28:43 PM
Post by: Jack0Life on April 19, 2021, 08:03:09 PM
Congratulations to the newly-FIREd (since I last checked the forum) @Mrs. Healthywealth, @ronsbusa3 , @Trede , @HumanAfterAll , and @sailingTowardsFI .
Here's a call-out to folks on the list who haven't confirmed or given an update on their status (and are maybe enjoying retirement too much to post): @fireflye , @Buffaloski Boris , @dreams_and_discoveries , @TheContinentalOp , @logjammin , and @Jack0Life (for the wife).
I've been busy these past few weeks - clearly there isn't enough time in the day for a retired person to do what he wants and needs to do. With the weather clearly moving into spring (although I'm holding out for a late blizzard) my days are likely to get even more productive as I add outside-the-house work to my list of "want to accomplish".
I hope you still-working folks are keeping it together as you make your way to the exit. Don't worry - the post-work life is swell.
Leading up to my wife letting her boss know that she was quitting, she was a nervous wreck. Her boss really really like her. Hard to tell your boss you're quitting when he thinks so highly of you. She did it and since she wasn't heading for another job, he asked her if she can stay on a bit longer to help out the transition. She agreed to stay still July 31st. As luck would have it I tried getting her to quit in July because her 401k matching would be vested. Her boss got her to stay till July and I didn't have to say a word.
As for myself, I got furloughed last March and then laid-off from a $120k job Dec 31st. Our plan was to take year(s) off traveling until our NW ever get down to $1 million. It's hovering pass $1.2 now. A funny thing happened. My company started recalling people myself included starting in April. Our company is not operating no where near 100% capacity. I won't be making $120k any time soon nor do I need to anymore. One thing I learn during the pandemic is how awesome it is with the free time. Even if my company get back to 100% capacity, I won't be working full time hours anymore.
Officially wife is retiring at 38 on July 31st. I'm 48 and down to 2-3 days at my work. We will be coastFI. Realistically we could FIRE but my job is so flexible it does not hinder our plan to travel at all.
Post by: Well Respected Man on April 20, 2021, 05:55:25 AM
I planned out how to allocate the money in detail, so I'm filling up some CDs, setting aside money for a much more modest house in the country, and investing the rest per my target allocation over time. I love when a plan comes together.
I'm kind of hanging out at work for another 3+ months just for one last chunk of ESPP and RSU money. I volunteered for a few different committees to keep it interesting, and my team is finally actually working on a somewhat modern project. So I don't mind too much. I may change my mind as the weather gets nicer and I'm once again (for the 37th consecutive summer!) stuck inside listening to my boss blather on.
Post by: Malee55 on April 20, 2021, 07:57:02 PM
The last couple of days at work were not too bad. And just being able to get things off my chest on this forum helps.
Love hearing when everyone is retiring.
Post by: anotherAlias on April 21, 2021, 04:40:02 PM
Interestingly enough, I woke up in the middle of the night thinking about my garden plans and couldn't go back to sleep. I'm hoping I don't wind up making that a trend. Hopefully some better exercise and eating habits will improve my sleep.
Post by: simmias on April 21, 2021, 05:55:58 PM
I do still have some work dreams here and there, though.
Post by: anotherAlias on April 23, 2021, 05:17:48 AM
Post by: Ladychips on April 23, 2021, 05:53:08 AM
Yesterday a giant box got delivered for me. I was surprised to find 2 big gift boxes of beer, cheese, sausage, crackers and chocolates from my employer as a retirement gift. My manager said others in management were teasing her for what she chose to have HR order but I think it was the best gift I've gotten from the company in 13yrs.
That sounds like a fantastic gift!!
Post by: Malee55 on April 23, 2021, 06:06:36 AM
Post by: LightTripper on April 23, 2021, 06:39:22 AM
Post by: Dicey on April 23, 2021, 07:30:40 AM
Great gift. How lovely to finish on a high!Hahaha, the beer will certainly help with that.
Post by: Aethonan on April 23, 2021, 03:16:09 PM
Post by: Chaplin on April 23, 2021, 03:46:42 PM
Update! Last day of work will be May 14. Three weeks and counting! Not sure how it's possible to feel like I'm simultaneously completely confident that this is the best decision and also feeling periodic gut-wrenches that I'm making a huge mistake. I think the fact of momentum (having told people and now having a firm date) means that it's no longer within my complete control to do/not do, which is terrifying. But it's also momentum towards exactly what I wanted... so yeah. That's good. :)
I'm with you! I have five weeks to go and I have that complete confidence combined with gut-checks too, although maybe not quite as bad as you're describing. Just let the momentum carry you along now.
Post by: Malee55 on April 23, 2021, 04:44:44 PM
Post by: marque on April 25, 2021, 09:07:04 AM
It has not really sunk in yet since I am preoccupied with my online CPA practice during the tax season, and since I never travel anywhere at this time of the year. However, it feels great to be able to wake up in the morning and not have to log in to my work computer.
As the weather warms up and more countries open their borders, I will be able to take advantage of my freedom. This forum has certainly been an inspiration for me.
Post by: sailingTowardsFI on April 26, 2021, 06:43:02 AM
Update! Last day of work will be May 14. Three weeks and counting! Not sure how it's possible to feel like I'm simultaneously completely confident that this is the best decision and also feeling periodic gut-wrenches that I'm making a huge mistake. I think the fact of momentum (having told people and now having a firm date) means that it's no longer within my complete control to do/not do, which is terrifying. But it's also momentum towards exactly what I wanted... so yeah. That's good. :)
I'm with you! I have five weeks to go and I have that complete confidence combined with gut-checks too, although maybe not quite as bad as you're describing. Just let the momentum carry you along now.
I felt something like this too! I felt the gut-checks mostly as I was leading up to making my announcement at work, but got through it by looking at my spreadsheet almost daily - that helped me stay clear that we have a solid plan. I felt it less and less leading up to the final day on April 9, and since then I've not really worried about it. I guess knowing it's done plus feeling confident in the planning has helped mitigate those feelings.
I'm the type of person who can't hide from my subconscious - if I knew deep down that I was making a poor choice I'd be waking up in the middle of the night or having physical symptoms. None of THAT has happened at all, so I think it's just the cultural programming that I'm overcoming. It's good to know the feelings are shared by others in the same spot!
Post by: Well Respected Man on April 27, 2021, 03:01:35 PM
I'm kind of hanging out at work for another 3+ months just for one last chunk of ESPP and RSU money. I volunteered for a few different committees to keep it interesting, and my team is finally actually working on a somewhat modern project. So I don't mind too much. I may change my mind as the weather gets nicer and I'm once again (for the 37th consecutive summer!) stuck inside listening to my boss blather on.
In another meeting now. I calculated the gravy that I'll be accumulating, and it adds up to over $1000 per remaining day of work (64 days left!) That's in addition to filling up the 401k and mega backdoor Roth and providing living expenses. I also ran our numbers through cFIRESim for the first time in about 4-5 months, and we're totally fine, and in fact can increase our expenses significantly if we choose. It's like OMQ syndrome instead of OMY now.
Post by: Malee55 on April 27, 2021, 04:29:36 PM
Each day at work I am counting down the shifts before my 4 weeks of annual leave, some days it is counting down the hours. Then when I go back to work after my leave I need to speak to my boss about my plans. Which I am nervous about. But what can he do - sack me!
Post by: Mrs. Healthywealth on April 28, 2021, 01:15:09 PM
Yesterday a giant box got delivered for me. I was surprised to find 2 big gift boxes of beer, cheese, sausage, crackers and chocolates from my employer as a retirement gift.What an awesome gift! It helps to leave on a good note. Congrats to you!!!
Post by: lukebowles on April 29, 2021, 01:12:36 AM
Long story short, after 6 years with my current firm I was made redundant in January with a final working day of 1st July. This resulted in a decent payoff and along with cashing out on some small speculative investments gone good I find myself in the position where I probably don't need to work any more should I not want to. Surprising how quickly my retirement date has come (I'm 35 and for most of the last few years I expected 40 to be the earliest realistic date) and it feels good. There is a lot of change and flux in my life currently (newly unemployed soon, changing country, possibly having more children) and it is liberating to know I have so much opportunity to design a lifestyle that works for me rather than basing every decision around employment needs.
In reality my savings are at the lower end of sustainable and my wife currently does not work, so there is a good chance I do end up doing occasional three or four month contracts to supplement my income and keep my portfolio balance topped up. But it's a great feeling to technically be FI and able to retire, knowing that any work I do is because I choose to do it. I can be a lot more picky, a lot more able to walk away if I'm not enjoying it and will be able to enjoy the work a lot more knowing it is limited in duration. I also think working a fraction of the year may also help me enjoy freedom more than if it I literally never worked again.
Alternatively, maybe I can earn a bit more money doing something I'm actually interested in (ie, outdoor guide, working for a charity I'm interested in etc) instead of slaving away wasting my life on the daily trivialities of a corporate accountant.
Anyway, nice to have this thread and best wishes to the rest of you guys.
Post by: Aethonan on April 29, 2021, 10:26:33 AM
Question for the group: How did you feel during your final few weeks at work? Still being "around" but not part of the team is oddly isolating. Not sure if this is inevitable, or just a reflection of the fact that, while I get along and respect most of my team, we would definitely not be friends outside of work. It's pretty strange!
Post by: lukebowles on April 29, 2021, 07:57:25 PM
To answer your question, I am in my final two months of work now and thoroughly enjoying it.
Especially as I'm working from home (Covid) my stress levels are essentially nil - still doing the bare basics not to mess anyone around, but zero pressure to do anything new or contribute more than I need to. Also helps that my departure is planned by the company (due to restructuring) so my workload has been downshifting significantly. To summarise, it's going to be a super easy ride to the finish line. My colleagues are all good people but not who I'd choose to hang out with in my personnel life, so no real sadness at the upcoming goodbyes.
Most stress in my life is actually how I restructure things once I'm not working anymore!
Post by: Need2Save on April 30, 2021, 06:19:51 AM
My tentative last day is still May 21, but likely I'll work into June as the recruiting for my replacement has been slow going. A couple more pay checks will help us pay for our health insurance for the rest of this year so it doesn't bother me. Most days it's pretty low-stress. A few days, like yesterday, are very busy but it feels good to be helping people with important projects while I still can. My boss doesn't seem all that appreciative (confirming that it's a good time for me to leave if I'm not valued like I should be), but my coworkers are very appreciative. Anything I do to support a smooth transition is for them, not my boss or the executive team.
I've curated a small list of people I want to keep in touch with after work life and connected with them from my personal email. I'd like to visit them if my travels bring me to their area and be reachable if they need a job reference or anything like that. Most people I'm happy to walk away from and will be fine if I never see/hear from them again.
Post by: Aethonan on April 30, 2021, 09:29:35 AM
To answer your question, I am in my final two months of work now and thoroughly enjoying it.
Thanks @lukebowles ! Sounds like you've got a great off-ramp set up.
Post by: phildonnia on April 30, 2021, 09:42:32 AM
Just recently, I mentioned to my father that I was retiring at 50. I actually expected some skepticism and disapproval of the idea -- both of my parents worked until they were 70.
To my pleasant surprise, he thought it was a great idea, and congratulated me on having the means while still (somewhat) young.
We have never, ever, talked about money or personal finances before; yet we both opened up on all sorts of details about our financial situations. (My parents are also very well off). And we generally agreed that it was the women in our lives that encouraged us to live simply and save for the future.
Post by: FireLane on April 30, 2021, 03:21:01 PM
My original plan was to FIRE last summer, but the pandemic threw a wrench in that. As long as I couldn't travel or see friends, there was no reason not to work a while longer and keep growing my stash. Plus, my job has been part-time and 100% work-at-home since March 2020, so it's been very low-stress.
But I've had my first vaccine shot, I'll have the second one soon, and my stash has grown well beyond the point where there's any plausible chance of running out of money. I can't justify working any longer when there's life to be lived and dreams to be chased!
Post by: Malee55 on April 30, 2021, 04:25:26 PM
Aethonan's question - I have not given notice yet and I have not definitely decided on a date, but I am on a committee at work and have been for a couple of years. I have always felt like it was a bit of a bullshit committee but now that I know I am leaving soon I really resent the time I have to spend during the meeting and then have to spend doing the work. And I am trying to make sure I will be doing the work during my normal work hours, not on my own time. I am happy to do extra hours to get the work done, but I better get paid for it.
I am a nurse and one of the issues I have had this year with being so tired and burnt out is that I felt like I had lost any empathy with my patients. So I had a great shift on Wednesday where I had the time and energy to listen to patients and really try to help and explain what was happening and what was going to happen. It is the main reason I became a nurse so it felt excellent to get that feeling back. Not that it will stop me retiring.
Post by: zombiehunter on April 30, 2021, 05:04:28 PM
I walked away from the "opportunity" to earn $500k this year as a corporate lawyer - but the personal cost is so high. It takes 12+ hr days (and often weekends) to hit the billable hours. I have no time for hobbies, outside interests or hardly to exercise. And generally makes me into a stressed-out asshole - hoping that will change when I can decompress! Having just gone through it in 2020, I just couldn't do one-more-year. Certainly a bad case of golden handcuffs, but I've decided that some things are more important than money.
I'm not planning on a full FIRE as I don't have the 'stach for 100% coasting, but planning on starting a small BNB / farm. It's been my dream for years, so surprised that it's causing stress to know I'll need to continue to earn a small monthly income (ballpark $800-$1,000 per month). But, I think I would be able to jump back in in a couple years if it doesn't go as planned.
Is anyone else in a similar boat - FIREing but planning on working part time? Is there an acronym for that, like LeanFIRE and FatFIRE?
Post by: FireTheWorldOver on April 30, 2021, 05:34:37 PM
Post by: MoneyTree on April 30, 2021, 05:40:27 PM
Is there an acronym for that, like LeanFIRE and FatFIRE?
I've heard this referred to as CoastFIRE or BaristaFIRE
Post by: Ladychips on April 30, 2021, 07:08:41 PM
I have been lurking here for 5 years, but finally FIRE'd after suffering through 3 OMYs. I would like to officially join a cohort after reading so many others posting these the last few years. Please add me as confirmed 4/30/2021, age 42. 😎 woohoo!!
@FireTheWorldOver welcome to the cohort and congratulations!!
Post by: Trifle on May 01, 2021, 06:59:21 AM
Hi 2021ers -- just gave my notice at work this week! I was expecting to feel pretty stoked, but it's definitely more mixed.
I walked away from the "opportunity" to earn $500k this year as a corporate lawyer - but the personal cost is so high. It takes 12+ hr days (and often weekends) to hit the billable hours. I have no time for hobbies, outside interests or hardly to exercise. And generally makes me into a stressed-out asshole - hoping that will change when I can decompress! Having just gone through it in 2020, I just couldn't do one-more-year. Certainly a bad case of golden handcuffs, but I've decided that some things are more important than money.
I'm not planning on a full FIRE as I don't have the 'stach for 100% coasting, but planning on starting a small BNB / farm. It's been my dream for years, so surprised that it's causing stress to know I'll need to continue to earn a small monthly income (ballpark $800-$1,000 per month). But, I think I would be able to jump back in in a couple years if it doesn't go as planned.
Is anyone else in a similar boat - FIREing but planning on working part time? Is there an acronym for that, like LeanFIRE and FatFIRE?
@zombiehunter -- I FIREd a couple years ago from an in-house legal position. I kept a small consulting side gig I've had for a while. It was extreme lean-fire, so I was glad to have the part time side gig. The markets have done so well that it looks like I didn't even need it.
It definitely feels weird at first to go from full-on legal work to something less taxing. Take your time to decompress and get your health back. Huge congratulations!
Post by: bownyboy on May 02, 2021, 12:54:36 AM
I think part of it is zoom fatigue, its been 14 months working remote now with two different contracts having not met any of the ‘little people’ on my screen.
But as a contractor I’m paid very well, hours are great and its low stress, so I keep reminding myself how lucky I am and to think of the extra cash going towards the stash.
I’m definitely not going to have any issues adjusting to the de accumulation phase of life. This last year has proven I enjoy the simple things in life and its been great spending more time with my wife.
We do miss travel and live gigs though, so really looking forward to things opening up again soon (UK).
Post by: Arbitrage on May 02, 2021, 05:21:47 PM
Hi 2021ers -- just gave my notice at work this week! I was expecting to feel pretty stoked, but it's definitely more mixed.
I walked away from the "opportunity" to earn $500k this year as a corporate lawyer - but the personal cost is so high. It takes 12+ hr days (and often weekends) to hit the billable hours. I have no time for hobbies, outside interests or hardly to exercise. And generally makes me into a stressed-out asshole - hoping that will change when I can decompress! Having just gone through it in 2020, I just couldn't do one-more-year. Certainly a bad case of golden handcuffs, but I've decided that some things are more important than money.
I'm not planning on a full FIRE as I don't have the 'stach for 100% coasting, but planning on starting a small BNB / farm. It's been my dream for years, so surprised that it's causing stress to know I'll need to continue to earn a small monthly income (ballpark $800-$1,000 per month). But, I think I would be able to jump back in in a couple years if it doesn't go as planned.
Is anyone else in a similar boat - FIREing but planning on working part time? Is there an acronym for that, like LeanFIRE and FatFIRE?
Yep, we're both dropping down to part-time work (and relocating to where we want to be). Our stash is just on the borderline of being sufficient for fill FIRE, but doing part-time work for a bit to ease the transition and give us a bit more peace of mind. We're definitely spending more than originally planned on the new house (including fixing it up, buying some furniture), so the part-time job feels like a lifeline for now. After we've moved, gotten used to our new lifestyle, and our costs stabilize, we can decide how long we want to keep up with the jobs.
Post by: zombiehunter on May 03, 2021, 07:58:04 AM
Hi 2021ers -- just gave my notice at work this week! I was expecting to feel pretty stoked, but it's definitely more mixed.
I walked away from the "opportunity" to earn $500k this year as a corporate lawyer - but the personal cost is so high. It takes 12+ hr days (and often weekends) to hit the billable hours. I have no time for hobbies, outside interests or hardly to exercise. And generally makes me into a stressed-out asshole - hoping that will change when I can decompress! Having just gone through it in 2020, I just couldn't do one-more-year. Certainly a bad case of golden handcuffs, but I've decided that some things are more important than money.
I'm not planning on a full FIRE as I don't have the 'stach for 100% coasting, but planning on starting a small BNB / farm. It's been my dream for years, so surprised that it's causing stress to know I'll need to continue to earn a small monthly income (ballpark $800-$1,000 per month). But, I think I would be able to jump back in in a couple years if it doesn't go as planned.
Is anyone else in a similar boat - FIREing but planning on working part time? Is there an acronym for that, like LeanFIRE and FatFIRE?
@zombiehunter -- I FIREd a couple years ago from an in-house legal position. I kept a small consulting side gig I've had for a while. It was extreme lean-fire, so I was glad to have the part time side gig. The markets have done so well that it looks like I didn't even need it.
It definitely feels weird at first to go from full-on legal work to something less taxing. Take your time to decompress and get your health back. Huge congratulations!
Awesome thanks for the feedback!
Hi 2021ers -- just gave my notice at work this week! I was expecting to feel pretty stoked, but it's definitely more mixed.
I walked away from the "opportunity" to earn $500k this year as a corporate lawyer - but the personal cost is so high. It takes 12+ hr days (and often weekends) to hit the billable hours. I have no time for hobbies, outside interests or hardly to exercise. And generally makes me into a stressed-out asshole - hoping that will change when I can decompress! Having just gone through it in 2020, I just couldn't do one-more-year. Certainly a bad case of golden handcuffs, but I've decided that some things are more important than money.
I'm not planning on a full FIRE as I don't have the 'stach for 100% coasting, but planning on starting a small BNB / farm. It's been my dream for years, so surprised that it's causing stress to know I'll need to continue to earn a small monthly income (ballpark $800-$1,000 per month). But, I think I would be able to jump back in in a couple years if it doesn't go as planned.
Is anyone else in a similar boat - FIREing but planning on working part time? Is there an acronym for that, like LeanFIRE and FatFIRE?
Yep, we're both dropping down to part-time work (and relocating to where we want to be). Our stash is just on the borderline of being sufficient for fill FIRE, but doing part-time work for a bit to ease the transition and give us a bit more peace of mind. We're definitely spending more than originally planned on the new house (including fixing it up, buying some furniture), so the part-time job feels like a lifeline for now. After we've moved, gotten used to our new lifestyle, and our costs stabilize, we can decide how long we want to keep up with the jobs.
We're in a similar boat as we are relocating, so the "expenses" in our new location (in addition to furnishing and renovating the new house) are very much just estimates, which makes calculating the 4% amount more difficult. And on top of that relocating to a new country/new tax regime in France that adds another layer of complexity!
Post by: Aethonan on May 03, 2021, 03:19:05 PM
I'm not planning on a full FIRE as I don't have the 'stach for 100% coasting, but planning on starting a small BNB / farm. It's been my dream for years, so surprised that it's causing stress to know I'll need to continue to earn a small monthly income (ballpark $800-$1,000 per month). But, I think I would be able to jump back in in a couple years if it doesn't go as planned.
Is anyone else in a similar boat - FIREing but planning on working part time? Is there an acronym for that, like LeanFIRE and FatFIRE?
@zombiehunter -- I FIREd a couple years ago from an in-house legal position. I kept a small consulting side gig I've had for a while. It was extreme lean-fire, so I was glad to have the part time side gig. The markets have done so well that it looks like I didn't even need it.
It definitely feels weird at first to go from full-on legal work to something less taxing. Take your time to decompress and get your health back. Huge congratulations!
That's awesome zombiehunter! I'm also transitioning to semi-FIRE state from a full-time law firm job (though I had already jumped ship from biglaw to a small firm in a secondary market years ago for work/life balance reasons). I'm taking a full-on 6-month "reset" break, but will either pick up some part-time legal work or something else for funsies for another few years. I never thought my identity was particularly wrapped up in "being a lawyer," but I've been sensing lately that it might, in fact, be more of an emotional transition than anticipated. Given that your transition seems WAY more abrupt (my current job has been relatively humane, so dropping to zero work hours is less of a cliff-edge), I would imagine you'll be experiencing a more extreme version of those feelings!
Wishing you all the best and looking forward to hearing how it goes!
Post by: crazy jane on May 03, 2021, 03:21:55 PM
Post by: phildonnia on May 05, 2021, 02:14:12 PM
Email was sent to co-workers,
Bank balances looking fine,
The trigger has been pulled!
Four weeks until FIRE!
I kinda teared up a little, but I have no regrets. And my manager was very supportive and offered to be a future reference and everything.
By the way, if anyone's keeping score, I'm on track for 6/2, not 6/1 as originally planned. "OMD", I guess?
Post by: Arbitrage on May 05, 2021, 04:46:24 PM
Meeting was had with manager,
Email was sent to co-workers,
Bank balances looking fine,
The trigger has been pulled!
Four weeks until FIRE!
I kinda teared up a little, but I have no regrets. And my manager was very supportive and offered to be a future reference and everything.
By the way, if anyone's keeping score, I'm on track for 6/2, not 6/1 as originally planned. "OMD", I guess?
Congrats! Now you need to re-run the numbers to see how much greater a chance of success your plan has with that extra day of working. Your retirement is one day shorter as well, so not only will your stash be bigger, your retirement will be one day shorter and your money won't have to last as long. Such much allure to OMD!
Post by: LD_TAndK on May 06, 2021, 05:55:46 AM
I'm only 29! Time to start my real life's work, whatever that may be
Post by: Malee55 on May 06, 2021, 06:21:17 AM
Post by: amberfocus on May 06, 2021, 08:52:01 PM
By the way, if anyone's keeping score, I'm on track for 6/2, not 6/1 as originally planned. "OMD", I guess?
Congrats! Now you need to re-run the numbers to see how much greater a chance of success your plan has with that extra day of working. Your retirement is one day shorter as well, so not only will your stash be bigger, your retirement will be one day shorter and your money won't have to last as long. Such much allure to OMD!
OMG, I'm *dying*. LMAO! (And congrats to you, phildonnia!)
And quick check-in... Two weeks plus one day left to go for me. Last day is May 21st. All the big projects that I thought I'd be bum-rushing to the bitter end have, through no fault/sabotage of my own, run out the clock -- so to my eternal surprise, I'm actually coasting to the exit. I just got my second Covid vaccine this week, so I'll be fully vaccinated just in time for FIRE. I'm already daydreaming about the haircut I'm getting.
Now does anyone know how to decline recurring meetings in Outlook, but only after a certain (ahem) date? Asking for a friend. ;)
Post by: Peter Parker on May 07, 2021, 07:53:28 AM
The wife's last day was yesterday--we are going out together. Excited to get this show on the road!!!
Post by: Ladychips on May 07, 2021, 08:27:57 AM
@SheWhoWalksAtLunch - I hope you'll keep us posted. Every step of the way!
Post by: Ladychips on May 07, 2021, 09:06:54 AM
DH's retirement process is also moving right along in a timely fashion. We are going the same day.
We are super excited!
Post by: HumanAfterAll on May 07, 2021, 09:50:25 AM
I've been riding my bike 3+ days per week. Took a mid-week solo overnight trip to the dry side of the mountains, rode some trails I've been looking at for years but never had the free time to explore. Found a riding buddy who has Mondays off, and we've had some great rides. My wife and I got our second shots, and went camping with another family. This is shaping up to be a great summer!
I'm really enjoying having enough time to dig into personal projects. Yard improvements, etc. And I'm taking enough of the burden off my wife to give her more free time before and after work, which she is really enjoying.
I find myself possibly trying too hard / spending too much time on investing. There's an idea in my head that with this much free time and a big stash, I can make some extra income by more active trading, including options which I've spent a lot of time learning about. Even trading with a tiny portion of our portfolio, it started to suck up a great deal of time & attention, so I backed off the strategies that required a lot of attention to the market. After all, I want to spend my days exercising outdoors, not sitting in front of a computer on a fixed schedule. I do still have some longer-term trades going. If they pay off, I'll put them towards a Rivian so I can drive to the mountains with less guilt :) If they don't pay off, then I'll consider it an educational expense.
Congrats to all the newly minted class of 2021! And for those still grinding it out, keep going!
Post by: Aethonan on May 07, 2021, 11:28:52 AM
SheWhoWalksAtLunch, I'll second the request to keep us posted! I had also been kind of waiting to get frustrated enough to pull the trigger, which happened for me early April. It's kindof a sucky way to feel, so my sympathies!
People keep asking me what I'm going to do, and I am almost speechless because I don't know where to start. I finally settled on saying, "Oh, I have a list!" which usually makes people laugh if they know me (I have a list/spreadsheet for everything).
My experience since giving notice is similar to amberfocus, with way more coasting than expected (ZERO complaints about that, though minor guilt twinges). Ready to be done!!!
Post by: Chaplin on May 07, 2021, 11:30:42 AM
I don’t have any need to make this a big thing, but a small part of me is happily anticipating being able to negotiate my exit plan while management is wrong footed thinking this is just about the pandemic. I’m so burnt out that I’d be happy to leave May 28th at this point and I’m seriously considering giving notice next Friday if I don’t get the phone call by then. Call me sooner and push me hard enough, I’ll quit on the spot.
May 28 sounds like a good day to me since it's my last day! Similar to you I had a conversation with my boss that almost pushed me out sooner. I sort of wish that had happened, but I'm also happy sticking with my plan for the benefit of my team.
Today is the day! Surreal, scary, exuberant, elation, gratitude...That and more are the feelings that are running through me.
The wife's last day was yesterday--we are going out together. Excited to get this show on the road!!!
So good! Can't wait to have that feeling three weeks today. I do feel like it's going to feel more surreal while walking out and the elation might take a few days to develop.
I completed my 3rd and final step in the retirement process this week. My part is done as far as the paperwork goes. Giving notice in a week and a half (my boss is on vacation next week so I need to wait until he gets back). Then I can start packing up my office.
DH's retirement process is also moving right along in a timely fashion. We are going the same day.
We are super excited!
Going out on the same day is fantastic! My wife and I had planned that a long time ago, but she ended up escaping three years before me. It worked out well for us, especially given the pandemic, as she has been able to spend more time with our son.
R+1-month update: OMG so good!
I've been riding my bike 3+ days per week. Took a mid-week solo overnight trip to the dry side of the mountains, rode some trails I've been looking at for years but never had the free time to explore. Found a riding buddy who has Mondays off, and we've had some great rides. My wife and I got our second shots, and went camping with another family. This is shaping up to be a great summer!
Nice Lefty, and great to hear that it's going so well for you! I'm going to have to be careful not to overdo it on my bike. I ride two times per week right now and enjoy it so much I could see myself jumping on too often and getting an overuse injury, or just wearing out bike components that are hard to replace right now.
Post by: phildonnia on May 07, 2021, 04:13:08 PM
Today is the day! Surreal, scary, exuberant, elation, gratitude...That and more are the feelings that are running through me.
The wife's last day was yesterday--we are going out together. Excited to get this show on the road!!!
(Imagining "Gonna Fly Now" playing in the background)
Congratulations, and good luck in the new life!
Post by: dblaace on May 07, 2021, 06:13:03 PM
Post by: Malee55 on May 08, 2021, 01:51:49 AM
I have been rethinking about when I am going to finish permanent work. At the moment work is not too bad so I am not so desperate to stop. My husband and I are getting a lot of maintenance work done on our house this year so if I still have a paying job it is easier to pay for the maintenance work. But if the job gets too stressful I know I have enough money saved to easily pay for the stuff done at home. So I may not finish up until end of October. Though I do like the sound of saying I was 55 rather than 56 when I retired.
Post by: cdn5cents on May 08, 2021, 09:01:37 AM
Post by: Eurotexan on May 08, 2021, 04:58:09 PM
Happy to join the group albeit a little late. I’ve been all over the place, I think I started in the 2023 FIRE cohort group but the market has lifted me, especially since I dumped all my cash in last March, and I’m so sick of the cooperate bullshit.
39 days to go!
Post by: moneypitfeeder on May 09, 2021, 05:08:22 PM
Post by: Mrs. Sloth on May 09, 2021, 07:05:31 PM
Thought I'd give an update, I pulled the plug on 1/29/2021. It's been great reading about everyone else's exit plans :) I have been absolutely loving life since I left but it really took about 3 months for me to decompress. Previously I would get a lot of work-related anxiety that I didn't realize how destructive it was to my overall well-being. I have been loving hiking during WEEKDAYS, and not just trying to fit one hike in a month on a weekend. Been working in my garden, a lot. Adding a new self-watering olla pot system, piped to rain barrels, so my plants won't suffer if we take a vacation (while allowing us to shut off the house water for safety). Busting out all the cookbooks and trying all the recipes I had earmarked but hadn't tried. Deep cleaning all my heating radiators (house is almost 100 yrs old and I have allergies). Paying attention to Birdcast and being able to go warbler watching on weekdays. But most importantly, spending my time with my SO, doing what we want. For all those in the running for later this year, I wish you the best of luck meeting your goals, it is so worth it, and congrats to any newly freed people in this cohort!
Thank you for sharing! So happy to hear how much you are enjoying retirement!! I will make sure to report back after 6 months or so as I do enjoy and appreciate these kind of updates.
Post by: ScreamingHeadGuy on May 09, 2021, 07:49:24 PM
So far we have 101 folks here who will be FIRE in 2021 and 5 have gone OLY into the 2020 Cohort.
Average age of 2021ers is 45.14 (based on those 72 members who provided an age at FIRE date). 2020 average age was 48.32. 2019 average age was 47.38.
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Post by: ScreamingHeadGuy on May 09, 2021, 08:16:59 PM
Welcome to all the new additions. Congratulations to all the new confirmations. (And welcome and congratulations to you new members of the list who have just FIRE'd.)
I'm throwing out the signal for updates to: @bluebelle @LightTripper @traveler and @force majeure - let us give you congratulations, too!
Post by: LightTripper on May 10, 2021, 03:42:20 AM
Post by: crazy jane on May 10, 2021, 06:01:39 PM
Post by: rightstuff on May 10, 2021, 07:14:33 PM
Its been quite a ride. After spending a weekend compiling numbers and steeling ourselves one more time to give notice, DW's boss planned a vacation that would have interfered with our planned end date, FIRE got real for DW at that moment and she bravely walked into the boss' office, forcing my announcement as well. It could be viewed as sad that someone else's vacation forced us to FIRE to our plan, but neither of us regret it. I admit to the occasional moment at a stoplight where I've asked myself "what the heck I'm doing" but we've held strong and have had many positive comments from friends and family.
Everyone's stories here have helped us so much, so thanks to the 2021 cohort!
Post by: texxan1 on May 10, 2021, 09:04:57 PM
FiredNfishin
Post by: effigy98 on May 10, 2021, 09:28:53 PM
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Post by: traveler on May 11, 2021, 12:43:48 AM
Okay, the list is updated and we've now got OVER ONE HUNDRED names on it. Pew pew confetti and lasers! Please check to make sure I didn't screw-up your entry (because I'm not a stickler for double-checking data entry anymore).Thanks for the ping [mention]ScreamingHeadGuy [/mention]!
Welcome to all the new additions. Congratulations to all the new confirmations. (And welcome and congratulations to you new members of the list who have just FIRE'd.)
I'm throwing out the signal for updates to: @bluebelle @LightTripper @traveler and @force majeure - let us give you congratulations, too!
I can confirm that May 3 was my last day at work so officially FIREd! Please update my entry with my age: 36.
Doing lots of packing and selling pretty much all bulky items before my move, so not much of a decompression yet, but soon!
Cheers!!
Post by: Need2Save on May 11, 2021, 05:26:43 AM
Post by: Malee55 on May 13, 2021, 04:30:38 AM
Post by: phildonnia on May 13, 2021, 10:49:40 AM
And we just made appointments for the kids to receive their Covid-19 shots. Everyone should be fully done with that by June 23. School's out on June 25. We'll probably go out to a nice indoor restaurant to celebrate.
Gonna be a great Independence Day this year!
Post by: Ladychips on May 13, 2021, 04:21:58 PM
Everything's coming together now. My last paycheck will result in reaching my 401(k) limit for 2021. I just submitted medical expenses to my FSA that will bring the balance to zero.
And we just made appointments for the kids to receive their Covid-19 shots. Everyone should be fully done with that by June 23. School's out on June 25. We'll probably go out to a nice indoor restaurant to celebrate.
Gonna be a great Independence Day this year!
That all sounds so wonderful, @phildonnia! Congratulations!
Post by: helloyou on May 14, 2021, 04:58:57 AM
Post by: Aethonan on May 14, 2021, 08:33:33 AM
Thanks as always to this cohort for the support! See you on the other side.
Post by: Dicey on May 14, 2021, 09:35:10 AM
Last day today! So excited... but also last night I dreamed that we had a house fire, a medical emergency, and a pet disaster all at once. So clearly part of me is still feeling a bit anxious too :) Oh well.I love it when dreams are obvious. You're gonna be fine, but be sure not to let any insurance lapse, lol.
Thanks as always to this cohort for the support! See you on the other side.
Post by: Dicey on May 14, 2021, 01:59:50 PM
I just called the head of my department and gave notice. May 28th will be my last day. I have to admit to being a little disappointed by his casual response. Maybe I worked this milestone into a bigger deal than it really is, or maybe he needs some time to process. Doesn’t matter either way. I’ve followed up with an email to both him and his second in command making it formal and I called the department’s biggest gossip and told him so the cat is now officially out of the bag.Brilliant! Perhaps your manager is shocked/stunned/seething with envy. Time will tell, but you won't be there or care. Congratulations. What a happy Friday!
Post by: Trifle on May 14, 2021, 04:10:05 PM
I just called the head of my department and gave notice. May 28th will be my last day. I have to admit to being a little disappointed by his casual response. Maybe I worked this milestone into a bigger deal than it really is, or maybe he needs some time to process. Doesn’t matter either way. I’ve followed up with an email to both him and his second in command making it formal and I called the department’s biggest gossip and told him so the cat is now officially out of the bag.
Fantastic! Congratulations @SheWhoWalksAtLunch !!!!!
Not long now.
Post by: anotherAlias on May 14, 2021, 05:50:42 PM
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Post by: Ladychips on May 14, 2021, 08:04:40 PM
I just called the head of my department and gave notice. May 28th will be my last day. I have to admit to being a little disappointed by his casual response. Maybe I worked this milestone into a bigger deal than it really is, or maybe he needs some time to process. Doesn’t matter either way. I’ve followed up with an email to both him and his second in command making it formal and I called the department’s biggest gossip and told him so the cat is now officially out of the bag.
Woohoo!
Post by: MoStash on May 14, 2021, 08:20:13 PM
Today was my last day and my insurance coverage continues until... midnight. Like someone else upthread, I thought we were covered through the end of the month. Nope.
Post by: dblaace on May 15, 2021, 06:40:35 AM
I am retired!Congrats!
Today was my last day and my insurance coverage continues until... midnight. Like someone else upthread, I thought we were covered through the end of the month. Nope.
Post by: Arbitrage on May 16, 2021, 02:36:05 PM
Post by: Chaplin on May 16, 2021, 05:30:24 PM
Post by: Ladychips on May 18, 2021, 12:13:24 PM
Post by: asauer on May 18, 2021, 01:45:09 PM
This cohort is so great and encouraging! I love seeing all the people giving notice and counting down. I gave my notice today - July 1 is my official retire date.
Congratulations!
Post by: Gardencat on May 18, 2021, 09:35:09 PM
I was nervous to tell my boss but it went fine. I have a chronic condition that I’ve been managing and this job just doesn’t have the flexibility I need to take care of my health. I’m so grateful that I have the resources not to have to work for an indefinite amount of time/never. It’s funny - the fact that I quit feels real to me but I don’t feel free yet. I’ve got plenty of work during my notice period, I guess it’ll start to sink in after I’m fully done. My husband is already looking at RVs so we can pack up the cat and travel.
Post by: snowball on May 18, 2021, 10:39:18 PM
Only six more months, woohoo! I'm planning to move to Tbilisi after that and make my home base there for some time. It's a nice place with wonderfully low COL, so my $500K CAD stash will go pretty far. For now, I am mostly thinking of this as a sabbatical and a chance to de-stress for a while in an open-ended kind of way, with no obligation to bring in income. I will probably do a bit of freelancing as time goes on, or I might eventually do another stint at a full-time job...we'll see. I'm really excited for the sabbatical - I think it'll be awesome.
Post by: snowball on May 20, 2021, 10:00:56 PM
now I think I'll make my last day Dec 1 2021.
"I think," she says. Well, now I've officially given notice, so this is definitely happening!
Yes, that is a ludicrous amount of notice to give; however, I'm contractually required to give a minimum of 4 months of notice, so it's not quite as excessive as it seems at first glance. I still didn't have to give notice this early, but I know my manager would really appreciate it if I can be here to help with interviewing and selecting my successor, and I would prefer it that way too; if I'm not here to do it, it'll be much harder to evaluate the candidates in terms of their technical skills and experience in my (very niche) type of position.
Also we will almost certainly have to hire someone from abroad, and this is a 3-6 month process if all goes well, so we're getting the ball rolling on recruitment right away. Hopefully we can avoid having much of a gap between my departure and the arrival of my replacement. (If not, then it is what it is; I'm still leaving at the end of the year. But I want to do what I can to make it a smooth transition, for the sake of my manager and colleagues, who are a good bunch.)
I did have a moment of "what have I done?!" after giving notice, but not too strongly, and it faded away pretty fast. Mostly I'm feeling excited about moving into the next stage of my life, and I feel confident this is the right decision.
Post by: JoJo on May 21, 2021, 09:33:43 AM
Post by: snowball on May 22, 2021, 08:48:38 AM
Post by: Poeirenta on May 22, 2021, 09:26:49 AM
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Post by: amberfocus on May 22, 2021, 11:52:49 AM
Technically, I'm going on sabbatical, I haven't officially resigned (yet), so I didn't have to turn in my badge or computer, and I may have to go back one last time next year to do all that. But I already cleaned out my desk, so when my manager said I could contact him if I forgot anything, I just smiled and nodded.
The very best thing about retirement so far? DELETING EVERY SINGLE ONE OF THE WAKE-UP AND MEETING ALARMS ON MY PHONE. I have reached... Alarm Zero. It was glorious.
Post by: Ladychips on May 22, 2021, 12:40:07 PM
Hello from the other side. I am done! Yesterday was my last day. I brought in home-baked goods, and used that as the excuse to send out an email blast announcing my imminent departure to anyone who had not yet heard. There were a bunch of very surprised and jealous people. My (fully vaccinated) subgroup got together for a lovely outdoor farewell lunch that was our first in-person gathering in more than a year.
Technically, I'm going on sabbatical, I haven't officially resigned (yet), so I didn't have to turn in my badge or computer, and I may have to go back one last time next year to do all that. But I already cleaned out my desk, so when my manager said I could contact him if I forgot anything, I just smiled and nodded.
The very best thing about retirement so far? DELETING EVERY SINGLE ONE OF THE WAKE-UP AND MEETING ALARMS ON MY PHONE. I have reached... Alarm Zero. It was glorious.
Yea you!!! Congratulations!!!
Post by: Malee55 on May 22, 2021, 03:53:06 PM
All the leave that I applied for has been approved. On 7 June I return to work from annual leave. Then on 19 July I am on annual leave again for 6 weeks. Then 2 months on LSL. All this time off work is paid leave. So between now and end of October I have 6 weeks at work. And then I plan to tell my boss that I will change employment status from permanent to casual. That way I can work as much or as little as I want.
When I saw that all my leave has been approved I could not stop smiling. I can trial being retired, with pay.
Post by: snowball on May 23, 2021, 07:33:24 AM
One of my younger colleagues spontaneously started talking about wanting to learn more about ways to generate passive income. I sent her a couple of links about investing and the 4% rule, so there's my good deed done for the day, lol. (I was a little worried about her researching that and then falling into the clutches of Amway or something; the least I can do is point her to some good information...there are so many people out there pushing bad info and outright scams.)
Post by: rightstuff on May 26, 2021, 12:08:47 PM
This cohort is so great and encouraging! I love seeing all the people giving notice and counting down. I gave my notice today - July 1 is my official retire date.
Congrats Ladychips!
DW is a mere 2.5 days from Fire, I am 3.5 myself. We are eager to see what is out there!
Post by: Mrs. Healthywealth on May 26, 2021, 02:39:40 PM
The very best thing about retirement so far? DELETING EVERY SINGLE ONE OF THE WAKE-UP AND MEETING ALARMS ON MY PHONE. I have reached... Alarm Zero. It was glorious.
Enjoy sleeping in, congrats!
Post by: Aethonan on May 26, 2021, 02:50:03 PM
So far it's been a week and a half and the hiking, the barn time, the researching house design/build principles, cooking, crocheting, listening to podcasts, cleaning, selling random shit that has piled up over the years... time flies and I jump out of bed wanting to do it ALL and not having enough time. I can't get over it. One day of dealing with others who hadn't pulled their weight on a non-profit got me stressed and bummed out... until I realized that this was ONE stressed-out moment in 10 days, rather than most of the day, every day. Then I did a happy dance and had a beer.
Oh, also so far I've found that the "purpose post-work" thing has been less of a problem since I was already volunteering for a couple of orgs, and have some learning/volunteer activities lined up. It's "busy" enough, for sure, and I feel like I'm contributing to others -- not just watching soaps and eating bon bons (though I did that one day too, but the Netflix/snacks version). I think I've had one day so far without something scheduled, but that's about how I like it!
So grateful, so tickled, so pleased. Best to the whole cohort and excited for you all not-yet-departed folks to have similar post-work times!
Post by: snowball on May 26, 2021, 03:57:41 PM
Post-work life is glorious. Like snowball, I'm presenting my current status to the world as a sabbatical/break from work, and it's helped hugely. Everyone sympathizes with being burned out and needing a break... suggesting that, hey, maybe regular career breaks should be for EVERYONE?? Radical thought. ;)
Yes! Maybe by setting a real-life example we'll help normalize it for more people, heh.
I was a little surprised at how much positivity there's been in people's reactions - I haven't gotten a single comment casting any doubt on the wisdom of my plan; everyone has been really supportive and saying that they'll miss me but it's a great idea.
Granted, I tend to come across as generally a pretty competent and confident* person, so when I tell people I'm going to do this, they default to assuming I've got my shit together about it.
*sometimes too much so...people tend to figure I must know what I'm talking about, even if I say something about a work project and they don't quite understand the reasoning / aren't sure it's correct. Come on, people, no one can be right 100% of the time! Even me, lol. You're supposed to speak up and be a reality check, if I'm saying something out loud that you think is wrong! My favourite colleagues are the ones who'll speak up and disagree with me.
So far it's been a week and a half and the hiking, the barn time, the researching house design/build principles, cooking, crocheting, listening to podcasts, cleaning, selling random shit that has piled up over the years...
I'm taking a moment to just wistfully admire this statement and think about the things I want to jump into spending more time on. Hiking especially, which is not a thing I can really do here in the desert (not by my definition anyway; I want me some mountain and forest trails, and summers that aren't so ridiculously hot).
It all sounds so lovely. Can't wait. I'd pull the plug now, except that I feel professionally obligated to ensure a good transition and wrap up one major project. I really can't move my date much earlier than Dec 1 if I want to do that.
I tell myself it'll be here before I know it. Also, trying to enjoy my current life as much as possible and not wish my life away; December will come soon enough.
Post by: ScreamingHeadGuy on May 26, 2021, 08:51:01 PM
So far we have 101 folks here who will be FIRE in 2021 and 5 have gone OLY into the 2020 Cohort.
Average age of 2021ers is 45.14 (based on those 72 members who provided an age at FIRE date). 2020 average age was 48.32. 2019 average age was 47.38.
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Post by: ScreamingHeadGuy on May 26, 2021, 09:02:01 PM
It's been over four months of post-work life for me and it has been great. Every day I give thanks for how blessed I am. I've done a bunch of home improvement projects, planted the garden, have continued my fitness routine (up to 3 hours of exercise a day!), taken naps, cooked new and delicious meals for my family, played many old computer games, read many books, and have done some writing (for personal enjoyment only).
What are some upcoming plans/projects? We will be hosting an exchange student in the 21-22 school year so I'm trying to learn a new foreign language. I'll do more home improvements (electrical work - which I was always scared of previously, some carpentry, plastering and painting). When school ends I plan to spend lots more time with my daughter doing "fun" science experiments, trips to parks, and building blanket tents in our back yard. I'm building a shield press and will soon start making and decorating shields (to give as gifts and to decorate my gaming room).
Post by: anotherAlias on May 27, 2021, 05:46:06 AM
Post by: snowball on May 27, 2021, 06:26:43 AM
I told her she needs to work harder on being an unreasonable manager so I can do a runner without guilt, and she laughed and agreed.
I love the improvements people here are making to their physical/mental/emotional health, fitness, stress levels after FIREing. That is going to be awesome when I get there. I really want to make health and happiness my biggest priorities and devote a proper amount of time to activities that support them.
Post by: asauer on May 27, 2021, 06:44:38 AM
Post by: snowball on May 27, 2021, 06:48:57 AM
Post by: Dreamer40 on May 27, 2021, 07:31:07 AM
My big project has been the yard. We had no edible plants and bought the house last year. So I added: raised veggie beds, fig trees, blueberries, raspberries, honeyberries, salal, native huckleberry, kiwi, passionfruit, yuzu, strawberries, and olive trees. Creating a fertilizer schedule for all these things and researching their care has taken a lot of time. I think I’m done adding new plants for the year and shifting more into maintenance mode. It’s almost time to harvest my first batch of peas!
Next week, DH is taking a work break so I booked us a few nights at Crater Lake. It’s nice to not have to worry about taking time off my job at the same time. I can just go. And spend this week setting up my in-laws to dog sit and running to the store for bug spray. Sometimes I’m baffled how I ever had time for my job.
Post by: Ladychips on May 27, 2021, 07:58:07 AM
Today is my one month anniversary of FIRE and it has been great. I have spent most of my time landscaping my backyard. I've done some regrading and planted 7 rose bushes for a start. I'm trying to decide if I want the roses to stand alone in those beds or if I want to make the beds bigger and plant something else in front of them. I'm also planning a dry creek bed where our sump pump discharges in winter to resolve a grass killing/erosion problem. This fall I'm planning on tackling the front yard. I've also been working jigsaw puzzles and reading more than I have in years. Audiobooks are really fun while I'm working in the yard. I love not being tied to a desk all day. Unsurprisingly, I've lost 4lbs so far without trying too hard. It's amazing how easy it is to not snack when I'm not stressed all the time.
Great update! Thanks for sharing it. My retirements plans sound very similar.
When you start working on your dry creek bed, I'd love it if you'd tell us about that (with pictures of course). I have a couple of bad spots and I'm thinking along the same lines but would really like to see someone else try it first!
Post by: anotherAlias on May 27, 2021, 08:05:03 AM
I'll definitely update on the progress when I get to it. I'm taking a break from yard work for a week or so to rest an aching Achilles and visit my mom. I was considering starting a journal here but I'm not sure if I have that much to say yet.Today is my one month anniversary of FIRE and it has been great. I have spent most of my time landscaping my backyard. I've done some regrading and planted 7 rose bushes for a start. I'm trying to decide if I want the roses to stand alone in those beds or if I want to make the beds bigger and plant something else in front of them. I'm also planning a dry creek bed where our sump pump discharges in winter to resolve a grass killing/erosion problem. This fall I'm planning on tackling the front yard. I've also been working jigsaw puzzles and reading more than I have in years. Audiobooks are really fun while I'm working in the yard. I love not being tied to a desk all day. Unsurprisingly, I've lost 4lbs so far without trying too hard. It's amazing how easy it is to not snack when I'm not stressed all the time.
Great update! Thanks for sharing it. My retirements plans sound very similar.
When you start working on your dry creek bed, I'd love it if you'd tell us about that (with pictures of course). I have a couple of bad spots and I'm thinking along the same lines but would really like to see someone else try it first!
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Post by: Ladychips on May 27, 2021, 09:00:48 AM
I'll definitely update on the progress when I get to it. I'm taking a break from yard work for a week or so to rest an aching Achilles and visit my mom. I was considering starting a journal here but I'm not sure if I have that much to say yet.Today is my one month anniversary of FIRE and it has been great. I have spent most of my time landscaping my backyard. I've done some regrading and planted 7 rose bushes for a start. I'm trying to decide if I want the roses to stand alone in those beds or if I want to make the beds bigger and plant something else in front of them. I'm also planning a dry creek bed where our sump pump discharges in winter to resolve a grass killing/erosion problem. This fall I'm planning on tackling the front yard. I've also been working jigsaw puzzles and reading more than I have in years. Audiobooks are really fun while I'm working in the yard. I love not being tied to a desk all day. Unsurprisingly, I've lost 4lbs so far without trying too hard. It's amazing how easy it is to not snack when I'm not stressed all the time.
Great update! Thanks for sharing it. My retirements plans sound very similar.
When you start working on your dry creek bed, I'd love it if you'd tell us about that (with pictures of course). I have a couple of bad spots and I'm thinking along the same lines but would really like to see someone else try it first!
Sent from my Pixel 4a using Tapatalk
No rules about how much you post in your journal! Start one! Start one!
Post by: Trifle on May 27, 2021, 11:29:56 AM
Post by: dblaace on May 28, 2021, 07:13:45 AM
The position is mine.
Post by: Chaplin on May 28, 2021, 09:13:22 AM
Thanks @Trifele I know it's bad form, but I'm literally counting down the minutes at this point.
It's my last day too and I'm with you on the counting down the minutes. No shame in it. Thanks to time zones you'll be done a few hours before me. Congratulations!
Post by: newstart103 on May 28, 2021, 10:43:35 AM
I am a 40 year old optometrist. As an optometrist you get to hear patients tell you on a daily basis how getting older sucks. (worsening eyesight with age is a thing). It's a good reminder to enjoy your health while you have it. My job always stressed me out, but I always said it was worth it for the money. I recently found out I have a congenital heart defect, so I am glad I can walk away. My blood pressure has already dropped 15 points in the last couple months as I haven't been letting the stress get to me as much, since I know I am out soon anyway. I actually sleep through the night now instead of waking up at 3am for a snack break. Weird huh?!
My partner is a teacher, so we bought a camper and will be traveling for about 6 weeks this summer.
Cheers!
Post by: Mrs. Sloth on May 28, 2021, 11:29:48 AM
Zero anxiety after giving notice (lots of anxiety leading up to the decision though). I took some time off before my last day and during the first Sunday before my time off, I felt anxious out of nowhere...I then reminded myself there was no work tomorrow and the anxiety went away. My Sunday dread friend never came back 🙂.
Post by: Trifle on May 28, 2021, 01:54:43 PM
Thanks @Trifele I know it's bad form, but I'm literally counting down the minutes at this point.
It's my last day too and I'm with you on the counting down the minutes. No shame in it. Thanks to time zones you'll be done a few hours before me. Congratulations!
and contratulations to you too!
Wonder twins activate! Form of FIRE
(https://media3.giphy.com/media/SkLJoHfyQbm7e/200.webp?cid=ecf05e47yqqr5eptt8zowv1fnnqatzfjhri5oay0o4q0auic&rid=200.webp&ct=g)
Post by: Chaplin on May 28, 2021, 06:36:58 PM
Thanks @Trifele I know it's bad form, but I'm literally counting down the minutes at this point.
It's my last day too and I'm with you on the counting down the minutes. No shame in it. Thanks to time zones you'll be done a few hours before me. Congratulations!
and contratulations to you too!
Wonder twins activate! Form of FIRE
Awesome! Early ‘80s kids TV was the best.
Post by: Chaplin on May 28, 2021, 06:42:11 PM
Amazingly, to me, I set 2021 as my target over five years ago and it actually happened. In some ways it happened quicker - 2021 was the target for both my wife and me, but she was able to FIRE three years ago while I stuck to 2021. Our finances are fully integrated so it was one plan not two separate ones. I’m working on a little summary of how we got here with the intention of posting it within a day or two.
Post by: swaneesr on May 28, 2021, 07:05:48 PM
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Post by: Ladychips on May 28, 2021, 08:10:46 PM
And I’m done. I’m home now from my last day in the coal mine.
I’m working on a little summary of how we got here with the intention of posting it within a day or two.
Congratulations! I look forward to hearing your story.
Post by: Chaplin on May 28, 2021, 10:16:11 PM
Congratulations!
And I’m done. I’m home now from my last day in the coal mine.
I’m working on a little summary of how we got here with the intention of posting it within a day or two.
Congratulations! I look forward to hearing your story.
Thank you both! I'll post the story in a separate post shortly.
Post by: Chaplin on May 28, 2021, 10:31:39 PM
In 1996 when I was finishing up my engineering studies, I jokingly made a spreadsheet to calculate when I could retire. Based on the money I had and my expenses I figured I could retire right away if I offed myself in about three months. I actually calculated this semi-seriously (the offing myself part wasn’t serious) for a little while with some projections about income, savings, and expenses. I was so close to figuring out “the shockingly simple math of early retirement” myself. Unfortunately, I didn’t, and those spreadsheets languished for many years; in fact I didn’t even remember them until well after I had re-embarked on the FIRE journey that led me here.
Oddly enough, I’m the same age as MMM, Canadian, grew up not far from where he did, AND I moved to Colorado within a year of him doing so. That’s where we diverged though. I felt like I was just starting my career and he was half-way out the door. After five years in Colorado I married and returned to Canada, and my new wife and I took a year off work. That year off proved to us that not working while relatively young and active had many pluses, and set the stage for our future FIRE although we didn’t know it at the time.
Fast forward to 2008, but before the world economy imploded, I felt that I was trapped in a very narrow career niche that was risky due to its narrowness, and how difficult it would be to leverage it into a different position. My fears might have been overblown, but they felt real at the time. I was accepted into an Executive MBA program and my employer at the time offered to pay for half. I hadn’t asked for or expected that, but it was a pattern that repeated several times. Employers seemed to think I had more potential than I thought I did.
Around 2012 when our cash flow started to improve again after taking hits from parental leave and my MBA, I started to wonder how to decide between accelerated mortgage repayment or investing. That eventually led to the Get Rich Slowly blog. That eventually led me to MMM. I binged the blog posts in a few days and found them transformative. They fit so well with many of the thoughts and ideas that I had, but hadn’t pulled together into a cohesive framework. I don’t recall what led me to it, but the Canadian Couch Potato blog solved my problem of how to actually invest my surplus income. MMM and CCP got me from there to here.
I stayed with that employer for another seven years (12 total) and left because I found myself struggling with the commute, some psychopathic behaviour in some of the senior managers, and the unhappiness of having two management-level parents trying to be good parents to an eight-year-old boy. There was also an undercurrent of frustration that even with two very good incomes buying a house in Vancouver was out of reach. It wasn’t really, but doing so would have destroyed any FIRE dreams and locked us into careers we couldn’t escape. The new employer solved the commute problem, but the problems of management (in this case the business owner) and ability to be a good parent got worse, not better. I worked myself to the point of burnout.
Once again I felt trapped. We were much closer to FI, but not close enough and I didn’t want to quit and delay it further. My wife also wanted to leave her job so it felt unfair that I do so and leave us dependent on her income. I was very close to fully burned-out though and couldn’t see a way to bridge from where we were to were we wanted to be while retaining our health and humanity. My projections made it look like March of 2021 would be when we could both FIRE. I just didn’t think I could last until then, and my wife was feeling the same way.
Fortunately, my LinkedIn profile led to job offer in Victoria. We jumped at the opportunity and at the beginning of 2018 I started in this new position. It was a strange time as my wife and son stayed behind to finish out my son’s school year and for my wife to exit her job. For six months I lived in Airbnbs and went back to my family on weekends. We were able to sell our townhouse in Vancouver for $1.23M which was considerably more than we expected, and bought a great house and property in Victoria for about $940k. We invested most of the difference putting us well over $1M in invested assets. The math also said that my wife no longer needed to work and I could still target March of 2021.
This new job had some unique characteristics that allowed me to start healing from the burnout rather than compounding it. That shifted after about a year and a half due to market forces, but I had recovered a fair bit. Initially, dealing with the pandemic also helped delay the return of burnout. The three years since starting the new job had seen me making the most money I had ever made while our investments had also done very, very well. Not working allowed my wife to focus more on our son which was very beneficial as he had to start at a new school. It also allowed her to do more of the household work that we had shared when we were both working. Yes, it created a more “traditional” dynamic, but it improved the quality of life for both of us. Despite that, the burnout was starting to return at the end of 2020 and I decided that it was time to act. FIRE at the end of May 2021 seemed ideal for a variety of reasons, so now, more than five years after projecting March 2021 as a FIRE date for both of us, I’m FIRE’d as of the end of May of 2021 while my wife had pulled the plug three years early. Not a bad estimate given the uncertainties along the way.
I can’t help but wonder if some of my “inability” to continue working relates to having set those targets and getting so close to FI as to have solid FU money at the very least. As in, if I had no choice, or hadn’t put this milestone on the timeline, would I have simply powered through because I had no choice? I don’t think so - I was headed for burnout no matter what because I kept making poor career choices.
Poor career choices? Well, financially they’ve worked out very well, and maybe in the grand scheme of things they were the right ones, but what if I had inflated my lifestyle accordingly and and had had to continue for ten or twenty more years? Although I was successful as a manager, I think it was because I actually cared. My sense is that you can’t do that for long, or at least I couldn’t without it consuming me. To be a manager, or worse, a president or CEO, you need some level of indifference or single-minded focus to do it long-term. If I had had to be in my career longer, I would have been better off staying in a more technical role and avoiding management. Of course, the better pay has got me to a point where I didn’t have to extend the career. Something of a catch-22, although even the technical roles paid well enough that with greater frugality we could perhaps have achieved the same result.
At any rate, today was my last day and I don’t ever plan to return to a position with the sort of responsibility that leads to good pay. I could certainly see myself pulling in a few dollars here and there with a wee bit of consulting, maybe some data analysis work, working at polling stations during elections, or perhaps as a bike mechanic. I think that our stash should make all of those unnecessary, but they might support some fun optional activities.
What now? Being able to spend time with my son while he still enjoys doing things with me is my top priority. It will also be wonderful to be able to relax with my wife without the cloud of work occupying a back corner in my mind at all times. Being responsible for the safety of others is gratifying and rewarding, but I found that you can’t take a vacation from it. My mother and in-laws are in their 80’s; they are in excellent health given their age so this is the time to maximize our time with them. Our house needs some DIY love and doing the work myself is fun for me and if I can avoid paying others thousands of dollars to the work, that’s a lot like having an income. And of course I have a lot of biking and hiking that just needs to be done. I’ve also recently found that plogging (walking/jogging while picking up litter) has been highly therapeutic and rewarding. It ticks some of the boxes that work used to tick. I get to do the activity, feel good about it, and keep score by recording each outing. It might also be the gateway drug that gets me into some environmental activism.
So now it remains to be seen how reality compares to expectations. I’m trying to be open to whatever comes up and not be too tied to those expectations though. I’m guessing that that’s a better long-term strategy as it has some resilience built in. If I pinned too much of my FIRE happiness on mountain biking, for example, all it would take would be an injury to “ruin” my plans.
To be continued…..
Post by: Aethonan on May 29, 2021, 04:19:40 PM
Quote
"I got a funny email yesterday from a recruiter saying they had candidates available for the position we were looking for.
The position is mine.
HILARIOUS.
@Chaplin, thank you so much for the detailed background! You've been a great contributor to this thread, and it was lovely to hear your backstory.
I just popped in to say: I just now realized (2 weeks in to leaving) that I have not thought about work for DAYS. Pending cases, partner anxieties, client demands... dear god, it's glorious. I thought I'd be worrying about them for months!
Also, I'd heard from others that going immediately from leaving work into a relocation is a bad idea, which is partly why I left my job with a solid 4-6 months before we plan to relocate. That said, the whole process of planning what we want to build (we're moving into a camper on our property and will be involved in the build itself) is SO MUCH FUN. I just realized that the process of identifying an ecologically-minded, energy efficient, and affordable house actually combines most of my prior education and training in totally unexpected ways. I have been dreaming about it (in a fun way) and keep waking up early because I'm excited to go research the next thing. I did NOT think I would be motivated to do any of this (and am slightly conflicted because I have a backlog of video games to get to...), but it's just ridiculous how much fun it is to learn things for the sake of it, and to feel inspired by whole new areas of learning and specialization.
All this is to say: wow. Did not expect to be having quite this much fun.
Post by: 4tify on May 29, 2021, 05:22:31 PM
I’d be curious to see a poll on how much this cohort has amassed, and what range of NW we are FIRING on.
Congrats to all who’ve made the jump and thanks for the updates!
Post by: 12321 on June 01, 2021, 12:39:44 PM
I’d be curious to see a poll on how much this cohort has amassed, and what range of NW we are FIRING on.
As would I. I still consult and worry about money, but I feel like we're above the average and have several safety nets. Namely, long term I haven't counted any social security, medium term I haven't counted any inheritance (though both of our parents are likely to leave something behind), and short term I never count my home equity or crypto holdings in my networth.
Still we're north of $3M invested, with a spend under 100k/year.
Post by: rightstuff on June 02, 2021, 07:48:52 AM
Everyone's stories, both pre and post Fire are highly interesting and informative, I look forward to seeing more and sharing my own.
Post by: 4tify on June 02, 2021, 09:27:18 AM
I’d be curious to see a poll on how much this cohort has amassed, and what range of NW we are FIRING on.
As would I. I still consult and worry about money, but I feel like we're above the average and have several safety nets. Namely, long term I haven't counted any social security, medium term I haven't counted any inheritance (though both of our parents are likely to leave something behind), and short term I never count my home equity or crypto holdings in my networth.
Still we're north of $3M invested, with a spend under 100k/year.
You sound like you’re solid. Home equity and under 4% SWR....how old are you?
Post by: 12321 on June 02, 2021, 11:20:49 AM
I’d be curious to see a poll on how much this cohort has amassed, and what range of NW we are FIRING on.
As would I. I still consult and worry about money, but I feel like we're above the average and have several safety nets. Namely, long term I haven't counted any social security, medium term I haven't counted any inheritance (though both of our parents are likely to leave something behind), and short term I never count my home equity or crypto holdings in my networth.
Still we're north of $3M invested, with a spend under 100k/year.
You sound like you’re solid. Home equity and under 4% SWR....how old are you?
35. Making enough to cover the mortgage and health insurance working a handful of hours a week. We'll see if I get the itch to drum up more clients when the kids are in school.
Was just re-reading the MMM post where if everything goes wrong, I've still got like 30 years of runway to figure out what I want to do next!
Post by: phildonnia on June 02, 2021, 11:37:45 AM
But tomorrow, I'm going to go out and do something fun with my son. In the middle of the day, on a Thursday, if you can imagine!
Post by: Chaplin on June 02, 2021, 01:47:52 PM
Today's my last day of work, and strangely, I'm finding myself giving a damn. I'm getting lots of "Sorry to bother you on your last day". To which I just have to say: "I'm not dead yet..." And I'm a little bothered that some of the tasks assigned to me are just not going to get done before I leave.
But tomorrow, I'm going to go out and do something fun with my son. In the middle of the day, on a Thursday, if you can imagine!
I think it's a good sign that you give (gave) a damn. I understand the feeling. It's even better that you're going to get to do something fun with your son at a time you otherwise wouldn't have been able to.
Post by: Malee55 on June 02, 2021, 04:03:26 PM
On Monday I am back at work after 4 weeks annual leave. Then 6 weeks later I will be off on leave until end of October. Which is when I will retire. It still does not feel real.
Post by: bownyboy on June 03, 2021, 12:43:26 AM
My wife who is already FIRE is out most days meeting up with friends, having lunches and walks etc while I retreat to the dining room for 7 hours of Zoom meetings (ugh!).
Just under 3 months to go for me; keep reminding myself of the income I will bank for our stash, but boy is it hard!!
Post by: Arbitrage on June 03, 2021, 07:59:17 AM
Post by: asauer on June 03, 2021, 11:40:58 AM
Post by: Ladychips on June 03, 2021, 01:40:43 PM
My mom has been having some health issues so I needed to take some days off work. Fortunately her procedure went great and so far, I haven't had to take any unexpected time off. It looks like (fingers crossed) that I am going to end the month with my sick leave exactly where I need it to contribute to my pension and my vacation time maxed out (they pay me for it). If I end up needing to take off addition time with my mom, it's ok. I have plenty.
16 days and counting for me!
Go Class of 2021! We are rocking it!!!
Post by: Need2Save on June 03, 2021, 04:56:56 PM
I'm helping interview outside candidates for my replacement. I realized this week that my boss doesn't want to hire the most qualified person for the job because she thinks she may be a job hopper and leave in 2-3 years. After reflection, I think it's because she knows the person is technically skilled, and has ambition thus won't be happy there are no advancement opportunities for her after 2-3 years. This is also one of the things I'm not happy about - I haven't said this directly to my boss, but I think she's getting the hint that there are no new opportunities for me at age 48 and I don't want to keep doing the same thing for ten more years (or longer). She also called it my 'fake retirement' because she thinks I'm too young and I'm not really done working. This was the first time anyone expressed direct doubt to me that I am really retiring. Believe me, it's real! Work is optional now and I'm opting out!
So they are going to probably offer my job to the lesser qualified candidate who will be easier to keep quiet about lack of promotion opportunities (and probably save them some money to pay them less than they were paying me). This is very sad for my team as they will not have the best leader....but not my problem!
Post by: RedefinedHappiness on June 04, 2021, 05:20:36 AM
Post by: 4tify on June 04, 2021, 09:47:10 AM
I’d be curious to see a poll on how much this cohort has amassed, and what range of NW we are FIRING on.
As would I. I still consult and worry about money, but I feel like we're above the average and have several safety nets. Namely, long term I haven't counted any social security, medium term I haven't counted any inheritance (though both of our parents are likely to leave something behind), and short term I never count my home equity or crypto holdings in my networth.
Still we're north of $3M invested, with a spend under 100k/year.
You sound like you’re solid. Home equity and under 4% SWR....how old are you?
35. Making enough to cover the mortgage and health insurance working a handful of hours a week. We'll see if I get the itch to drum up more clients when the kids are in school.
Was just re-reading the MMM post where if everything goes wrong, I've still got like 30 years of runway to figure out what I want to do next!
Yeah he did a Fool interview recently and touched on that again. Definitely gave me a nudge too!
Post by: JoJo on June 04, 2021, 04:14:27 PM
Post by: Ladychips on June 04, 2021, 04:22:16 PM
It's official! Just turned in my computer, IDs, etc! Retirement on 6-4-2021 at age 48!
Congratulations!!!!
Post by: CoffeeR on June 04, 2021, 06:00:41 PM
In some other news, my wife and I are planning some travel for the fall!! I've never had time during my regular working years. I'm excited!
Post by: crazy jane on June 04, 2021, 07:03:59 PM
Post by: Ladychips on June 04, 2021, 07:12:23 PM
Then I plan to stay up past 9:00 for the first time in ages.
Be careful and think about taking it in stages.. That's my plan anyway. LOL
Congratulations!
Post by: crazy jane on June 05, 2021, 05:13:17 AM
Then I plan to stay up past 9:00 for the first time in ages.
Be careful and think about taking it in stages.. That's my plan anyway. LOL
Congratulations!
Thank you. My husband and I joke about staying up until double digits. It was still light out when we went to bed last night. I will report later on what it feels like to try and sleep when I am not exhausted from working all day.
Post by: 12321 on June 07, 2021, 07:46:34 AM
I’d be curious to see a poll on how much this cohort has amassed, and what range of NW we are FIRING on.
As would I. I still consult and worry about money, but I feel like we're above the average and have several safety nets. Namely, long term I haven't counted any social security, medium term I haven't counted any inheritance (though both of our parents are likely to leave something behind), and short term I never count my home equity or crypto holdings in my networth.
Still we're north of $3M invested, with a spend under 100k/year.
You sound like you’re solid. Home equity and under 4% SWR....how old are you?
35. Making enough to cover the mortgage and health insurance working a handful of hours a week. We'll see if I get the itch to drum up more clients when the kids are in school.
Was just re-reading the MMM post where if everything goes wrong, I've still got like 30 years of runway to figure out what I want to do next!
Yeah he did a Fool interview recently and touched on that again. Definitely gave me a nudge too!
Thanks for the response! Yeah I'm deep down some existential rabbit holes of what I'm bringing to the world by continuing to work in digital marketing so... maybe we stop! We've got plenty of money and time to figure out what's next, plus kids to focus on.
Big thanks to this forum, not sure anywhere else I can discuss this!
Post by: Malee55 on June 07, 2021, 04:09:28 PM
Post by: boarder42 on June 07, 2021, 04:10:41 PM
Post by: nazar on June 07, 2021, 06:18:13 PM
Sent from my SM-G892U using Tapatalk
Post by: The 585 on June 08, 2021, 02:02:35 PM
Post by: Dreamer40 on June 08, 2021, 09:13:48 PM
Post by: 4tify on June 09, 2021, 10:04:18 AM
Guys, I’m 97 days into retirement and felt like I wanted a job today. ?!?! I looked at Craigslist and random local job boards to see if anything jumped out at me. I feel a little crazy. I dont regret quitting my shitty job and I don’t need to work. But I apparently am starting to feel ready for the next challenge or phase. As I write this, I have a Nintendo Switch in my lap so I’m probably not serious. I’m going to go play Hades now for a while. I’m finding this emotional FIRE journey fascinating.
You could always get another job. What’s behind the impulse? Need a problem to solve? Social interaction? Anxiety about your plan?
Post by: boarder42 on June 09, 2021, 11:46:43 AM
Guys, I’m 97 days into retirement and felt like I wanted a job today. ?!?! I looked at Craigslist and random local job boards to see if anything jumped out at me. I feel a little crazy. I dont regret quitting my shitty job and I don’t need to work. But I apparently am starting to feel ready for the next challenge or phase. As I write this, I have a Nintendo Switch in my lap so I’m probably not serious. I’m going to go play Hades now for a while. I’m finding this emotional FIRE journey fascinating.
i'm not sure 97 days into retirement is long enough to make any decisions. Its a big life change and takes time to pivot to a slower pace regardless of your age.
Post by: Dreamer40 on June 09, 2021, 11:59:22 AM
Guys, I’m 97 days into retirement and felt like I wanted a job today. ?!?! I looked at Craigslist and random local job boards to see if anything jumped out at me. I feel a little crazy. I dont regret quitting my shitty job and I don’t need to work. But I apparently am starting to feel ready for the next challenge or phase. As I write this, I have a Nintendo Switch in my lap so I’m probably not serious. I’m going to go play Hades now for a while. I’m finding this emotional FIRE journey fascinating.
You could always get another job. What’s behind the impulse? Need a problem to solve? Social interaction? Anxiety about your plan?
I think the impulse might have come from wanting to be involved in something new. New environment, new people, new challenges. I’ve probably been spending too much time at home lately and my initial post-retirement projects are slowing down. Time to decide what I feel like doing next. A job is probably not the right step unless something truly interesting came along. I think I’m finally starting to unwind!
Post by: Arbitrage on June 09, 2021, 02:40:44 PM
It was pretty anticlimactic, actually. Most people still aren't in the office, and I didn't speak to many. My management is seemingly being a bit passive aggressive about the whole situation, as I know my boss's boss is less than thrilled with my new work situation (though he did agree to it). No farewells of any sort planned. Admittedly, I am still remaining with the company, in my current position. I'm ok with the lack of fanfare, but it does seem a little odd that there's no real acknowledgement.
I wasn't sure if packing things up would feel cathartic, and mostly it didn't. The one twinge I had was a striking memory of all of the awful drives home in LA traffic, as I had my car today in order to transport my personal effects home. I've been a full-time e-bike commuter for 3 years, but I still have scars from sitting in traffic every day.
Post by: Dicey on June 09, 2021, 03:40:13 PM
Just returned from my last day in the office, really just packing stuff up and tying up loose strings. I still have to put in a couple of hours tomorrow, but will do it from home. After that, I'm transitioning to part-time, and will be fully remote. Moving in a couple of weeks.They dont want anymore people to do the same thing. Shitty of them, but understandable if you're part of a soulless corporation.
It was pretty anticlimactic, actually. Most people still aren't in the office, and I didn't speak to many. My management is seemingly being a bit passive aggressive about the whole situation, as I know my boss's boss is less than thrilled with my new work situation (though he did agree to it). No farewells of any sort planned. Admittedly, I am still remaining with the company, in my current position. I'm ok with the lack of fanfare, but it does seem a little odd that there's no real acknowledgement.
I wasn't sure if packing things up would feel cathartic, and mostly it didn't. The one twinge I had was a striking memory of all of the awful drives home in LA traffic, as I had my car today in order to transport my personal effects home. I've been a full-time e-bike commuter for 3 years, but I still have scars from sitting in traffic every day.
Post by: Arbitrage on June 09, 2021, 05:42:03 PM
Just returned from my last day in the office, really just packing stuff up and tying up loose strings. I still have to put in a couple of hours tomorrow, but will do it from home. After that, I'm transitioning to part-time, and will be fully remote. Moving in a couple of weeks.They dont want anymore people to do the same thing. Shitty of them, but understandable if you're part of a soulless corporation.
It was pretty anticlimactic, actually. Most people still aren't in the office, and I didn't speak to many. My management is seemingly being a bit passive aggressive about the whole situation, as I know my boss's boss is less than thrilled with my new work situation (though he did agree to it). No farewells of any sort planned. Admittedly, I am still remaining with the company, in my current position. I'm ok with the lack of fanfare, but it does seem a little odd that there's no real acknowledgement.
I wasn't sure if packing things up would feel cathartic, and mostly it didn't. The one twinge I had was a striking memory of all of the awful drives home in LA traffic, as I had my car today in order to transport my personal effects home. I've been a full-time e-bike commuter for 3 years, but I still have scars from sitting in traffic every day.
Yes, agreed. I had also been pondering sending a pseudo-farewell email, but decided against it for that very reason; I'm pretty sure my current management would be greatly annoyed by it. Since I'm basically employed in 6-month blocks now, I'd rather count my blessings and not annoy them too much more until I'm sure I want to be done. We could get by without the job, but I'd like to give the new arrangement a whirl for a bit due to how much additional flexibility it will allow. 2 days of working from home, 5 day weekends still sounds like a pretty good gig to me.
Post by: Arbitrage on June 10, 2021, 09:59:17 AM
Ok, unlike most of you, I'm just going coast-FI, but that's been the goal, so I'm sticking to it as my FI date. I had previously tabbed early July as the date (that's when I'm officially done with full-time work), but I'm just going to be on vacation until then, so today was my last day of actual full-time work.
Tons of work still to do with our impending interstate move, but I'm still feelin' good.
Post by: boarder42 on June 10, 2021, 10:08:15 AM
And...done!
Ok, unlike most of you, I'm just going coast-FI, but that's been the goal, so I'm sticking to it as my FI date. I had previously tabbed early July as the date (that's when I'm officially done with full-time work), but I'm just going to be on vacation until then, so today was my last day of actual full-time work.
Tons of work still to do with our impending interstate move, but I'm still feelin' good.
congrats! today is my last day for 12 weeks of FMLA - And i'll work 4 months then hang it all up in Jan. that's IF i can come back after this FMLA
Post by: amberfocus on June 10, 2021, 02:02:17 PM
My management is seemingly being a bit passive aggressive about the whole situation, as I know my boss's boss is less than thrilled with my new work situation (though he did agree to it). No farewells of any sort planned. Admittedly, I am still remaining with the company, in my current position. I'm ok with the lack of fanfare, but it does seem a little odd that there's no real acknowledgement.
I had the same exact experience with my boss's boss -- total silent treatment after my sabbatical request, even though it was officially approved (the painstakingly diplomatic line I got from HR was that "she wanted you to feel supported", which is notably distinct from "she supported you"). She never expressed interest in speaking to me about my sabbatical, deliberately avoided direct engagement with me in other contexts, never informed the three other managers at my boss's level that I was leaving, and skipped out on the farewell lunch that my small subgroup had with me at the last minute (by trotting out the 'kid's doctor appointment' excuse ten minutes before the lunch was over).
This shutdown/erasure was incredibly disconcerting, even if part of me was glad for the lack of fanfare, mostly because I didn't want to answer any more uncomfortable questions about why I'm going than I have to (up to and including the early retirement bit). But it definitely reinforced my decision to be done, because it's abundantly clear that the feeling is mutual. If she can't even pretend to give a damn, then why should I? And if she thinks I'm bluffing, well... the joke's on her.
Post by: Aethonan on June 10, 2021, 02:18:59 PM
And...done!
Ok, unlike most of you, I'm just going coast-FI, but that's been the goal, so I'm sticking to it as my FI date. I had previously tabbed early July as the date (that's when I'm officially done with full-time work), but I'm just going to be on vacation until then, so today was my last day of actual full-time work.
Tons of work still to do with our impending interstate move, but I'm still feelin' good.
In cooperation with my SO, we're coast-FI as well (mostly because we haven't figured out a drawdown strategy and have concerns about actual future expenses in advance of an upcoming international move). So yeah, you're not alone :)
Post by: Malee55 on June 10, 2021, 03:57:24 PM
Post by: nazar on June 14, 2021, 04:01:44 PM
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Post by: Eco_eco on June 15, 2021, 12:21:27 PM
And...done!
Ok, unlike most of you, I'm just going coast-FI, but that's been the goal, so I'm sticking to it as my FI date. I had previously tabbed early July as the date (that's when I'm officially done with full-time work), but I'm just going to be on vacation until then, so today was my last day of actual full-time work.
Tons of work still to do with our impending interstate move, but I'm still feelin' good.
Congrats on sticking to your plan. I think CoastFI or BarristaFI really are often the best option. You get the loss stress, easy to arrange lifestyle of not having to work in environments that you don’t like, but with all the benefits of working (social contact, professional growth, satisfaction from using your skill set, income). It’s a great way to use your money stack to build the lifestyle you want much earlier than slogging it out to full FI would take.
Post by: American GenX on June 17, 2021, 11:26:43 AM
You can remove me from the 2021 list. I've known that probably wouldn't happen for a while, but today, I'm feeling much better about 2022.
My FIRE in 2021 rested on hopes of an earlier ACA ruling (which didn't have until today) so that I could have put in notice at work at least 6 weeks ago and been off by early June with certainty about healthcare. Since an earlier ruling didn't come, we're already into the latter part of June, and I've padded my summer work schedule with a lot of vacation days, so it will be more like a part time job through the summer with mostly four-day weekends, which is very nice despite not being FIREd yet. I'm planning to hold off until spring of 2022 at his point so that I can have next summer completely off, unless something at work really pisses me off prior to that.
Post by: SmartyCat on June 17, 2021, 02:40:01 PM
Post by: Need2Save on June 17, 2021, 05:54:41 PM
AND, since ACA is going to be around, our health care plans are shaping up very nicely for 2022 and beyond.
@Malee55 - I'm so curious about your situation with your boss and coworker both jumping ship. How big is your team? When are you going to tell them? Will you have a new boss before you give your notice? How much notice are you giving?
Post by: Malee55 on June 17, 2021, 06:50:48 PM
I now have 2 weeks off on stress leave. And when I get back will have 2 weeks until I have 3 1/2 months leave. And then I will either retire totally or go casual. I haven't decided what I will do so of course I have not told the hospital.
Reading about people leaving their jobs is so exciting. And inspiring. I love the stories.
Post by: ScreamingHeadGuy on June 17, 2021, 08:11:24 PM
So far we have 104 folks here who will be FIRE in 2021 and 5 have gone OLY into the 2020 Cohort.
Average age of 2021ers is 45.14 (based on those 72 members who provided an age at FIRE date). 2020 average age was 48.32. 2019 average age was 47.38.
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Post by: ScreamingHeadGuy on June 17, 2021, 08:20:41 PM
Welcome to the cohort @newstart103 and @SmartyCat .
General updates made to the list.
Post by: Mrs. Sloth on June 18, 2021, 12:19:38 AM
Here's a big group congratulations to @SheWhoWalksAtLunch @CoffeeR @Chaplin @Geographer @Mrs. Sloth @crazy jane @Arbitrage @rightstuff @phildonnia @JoJo - you are all awesome and have earned your reward.
Welcome to the cohort @newstart103 and @SmartyCat .
General updates made to the list.
Thank you so much for keeping the list updated!!!
Post by: boarder42 on June 18, 2021, 03:46:03 AM
The roster is updated for everybody through post #1278.Mrs b42 34 July 7 2021
So far we have 104 folks here who will be FIRE in 2021 and 5 have gone OLY into the 2020 Cohort.
Average age of 2021ers is 45.14 (based on those 72 members who provided an age at FIRE date). 2020 average age was 48.32. 2019 average age was 47.38.
Name Age (at FIRE) FIRE Date Aldi Early 50s 1/23/2020 OLY CrazyIT 56 3/13/2020 OLY Mmm_Donuts 3/20/2020 OLY Marcher Lady 49 12/15/2020 OLY Zinnie 38 10/22/2020 OLY Matz_70 50 1/1/2021 BikeFanatic 55 1/4/2021 Confirmed Sciurus 1/8/2021 Confirmed ScreamingHeadGuy 41 1/22/2021 Confirmed 12321 35 1/23/2021 Confirmed moneypitfeeder 42 1/29/2021 Confirmed Sultan58 1/31/2021 Confirmed fireflye 50 2/1/2021 goat_music_generator 27 2/2/2021 Confirmed dividendman 38 2/5/2021 Confirmed texxan1 2/15/2021 Confirmed Buffaloski Boris 56 2/28/2021 dreams_and_discoveries 39 February fiStressRelief 40 3/1/2021 Confirmed Dreamer40 40 3/3/2021 Confirmed Farfetchd 33 3/7/2021 Confirmed skyrefuge 43 3/12/2021 Confirmed TheContinentalOP 55 3/19/2021 logjammin 39 3/26/2021 Mrs. Healthywealth 42 3/26/2021 Confirmed Blindsquirrel 3/31/2021 Confirmed ronsbusa3 50 4/1/2021 Confirmed HumanAfterAll 44 4/2/2021 Confirmed Trede 51 4/2/2021 Confirmed marque 47 4/8/2021 Confirmed sailingTowardsFI 43 4/9/2021 Confirmed Abe Froman 4/16/2021 Confirmed simmias 47 4/16/2021 Confirmed Ottawa 49 4/16/2021 Confirmed OmgLmg 4/16/2021 Confirmed Tipster350 60 4/16/2021 Confirmed justchristine 4/27/2021 Confirmed bluebelle 4/30/2021 Need2Save (Mr.) 4/30/2021 Confirmed FireTheWorldOver 42 4/30/2021 Confirmed LightTripper 45 April force majeure 45 April traveler 5/3/2021 Confirmed LD_TAndK 29 5/6/2021 Confirmed Peter Parker 5/7/2021 Confirmed cdn5cents 53 5/8/2021 Confirmed Geographer 30 5/10/2021 Confirmed aethonan13 33 5/14/2021 Confirmed MoStash 53 5/14/2021 Confirmed amberfocus 36 5/22/2021 Confirmed SheWhoWalksAtLunch 56 5/28/2021 Confirmed Chaplin 47 5/28/2021 Confirmed CoffeeR 55 5/31/2021 Confirmed SWAMI Mrs. Sloth May Confirmed gary3411 30 April/May WildJager 35 May 80Westy 50 May EricEng 36 May rightstuff 55 6/1/2021 Confirmed ItalianGirl 52 6/1/2021 phildonnia 50 6/2/2021 Confirmed JoJo 48 6/4/2021 Confirmed icebox92 36 6/4/2021 crazy jane 55 6/7/2021 Confirmed Sisto 52 6/7/2021 Arbitrage 43 6/10/2021 Confirmed Coast-FI Newstart103 40 6/11/2021 YoungGranny 31 6/30/2021 mld 33 June SunniD June FireLane 39 June Ladychips 55 7/1/2021 lukebowles 7/1/2021 Need2Save 48 7/2/2021 Eurotexan 7/2/2021 Jack0Life ('s wife) 32 7/31/2021 CarolinaGirl 50 July highlandterrier 47 7/16/2021 Norsky July Dusty Dog Ranch July asauer 43 August Bownyboy 49 9/7/2021 Well Respected Man 56 9/10/2021 ospreyjp 56 9/27/2021 frugalecon 9/30/2021 GBRS 36 September Malee55 55 July-October Nazar 10/1/2021 the_fixer 49 10/1/2021 damo October Boyband 37 October 4tify 54 October Money Badger 53 12/1/2021 snowball 40 12/1/2021 SmartyCat 12/17/2021 Accountant007 48 12/23/2021 Ulysses Everett McGill 55 12/31/2021 dblaace 60 12/31/2021 NoVa 12/31/2021 effigy98 43 December Wadiman December mindfulrun 43 spring lightmyfire June-Sept monarda 61 TBD lemonlyman TBD dsw TBD MoneyTree TBD exit2019 TBD zombiehunter TBD
B42 35 12 31 21
I may push to 1/5/22 depends on company actions the next 6 months.
Post by: SmartyCat on June 20, 2021, 05:27:12 PM
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Post by: Dicey on June 21, 2021, 08:43:59 AM
I'm not RE by MMM standards, but am celebrating nonetheless. I'll be 59 when I exit the day job.Those 6+ years of early freedom will still taste delicious. Congratulations!
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Post by: FireLane on June 21, 2021, 08:27:50 PM
I'd prefer to tell him in person, rather than electronically. It feels more courteous to do it that way. But our company is just starting to bring people back to the office, so far on a strictly voluntary basis, and he keeps changing his mind about when he'll be in.
It's no big deal to me if I end up working a little past the end of June. Still, if I haven't caught up with him by the first week of July, I'll just have to tell him over Zoom. I can't wait around forever.
Post by: goat_music_generator on June 22, 2021, 08:25:49 AM
It's looking likely that my FIRE date is going to slip into July - not because I want to work longer, just because I can't get a hold of my manager to deliver the news!
I'd prefer to tell him in person, rather than electronically. It feels more courteous to do it that way. But our company is just starting to bring people back to the office, so far on a strictly voluntary basis, and he keeps changing his mind about when he'll be in.
It's no big deal to me if I end up working a little past the end of June. Still, if I haven't caught up with him by the first week of July, I'll just have to tell him over Zoom. I can't wait around forever.
I wouldn't worry about it. I gave notice over Zoom, and I'm sure many other people have done the same in this crazy year. ¯\_(ツ)_/¯
Good luck, however you end up doing it!
Post by: FireLane on June 24, 2021, 04:08:37 PM
It's looking likely that my FIRE date is going to slip into July - not because I want to work longer, just because I can't get a hold of my manager to deliver the news!
I'd prefer to tell him in person, rather than electronically. It feels more courteous to do it that way. But our company is just starting to bring people back to the office, so far on a strictly voluntary basis, and he keeps changing his mind about when he'll be in.
It's no big deal to me if I end up working a little past the end of June. Still, if I haven't caught up with him by the first week of July, I'll just have to tell him over Zoom. I can't wait around forever.
I wouldn't worry about it. I gave notice over Zoom, and I'm sure many other people have done the same in this crazy year. ¯\_(?)_/¯
Good luck, however you end up doing it!
Thanks for the reassurance. I could be off-base about this, but it just feels discourteous to me, like breaking up with someone over text. Like, it seems more respectful to deliver bad news in person, you know?
However, I still haven't been able to catch my manager in-person, so it's very likely going to be on Zoom regardless!
Post by: highlandterrier on June 25, 2021, 04:19:15 AM
Good chat with teammates from over the years yesterday rounded things off well sharing memories, doing it virtually was fine, less fuss which suits me.
Delighted to see Windows 11 being announced as
Going away for a short break next week then some family visits for the next few weeks as the new chapter begins.
Here’s a couple of classics that I’ve had on today that feel appropriate :
https://www.youtube.com/watch?v=KQetemT1sWc&ab_channel=TheBeatlesVEVO
(https://www.youtube.com/watch?v=KQetemT1sWc&ab_channel=TheBeatlesVEVO)https://www.youtube.com/watch?v=edwk-8KJ1Js&ab_channel=BostonVEVO (https://www.youtube.com/watch?v=edwk-8KJ1Js&ab_channel=BostonVEVO)
PS Official leaving date still 16th July last few weeks are holidays
Post by: Ladychips on June 25, 2021, 05:11:25 AM
Well, that’s my last half-day worked, and I am out! Cannot believe this day is here. As I took the dog around the loch this morning an overwhelming sense of calm came over me as I realised I had made it. I never need to deal with those same stresses again and I could physically feel them drift away. I got there.
Good chat with teammates from over the years yesterday rounded things off well sharing memories, doing it virtually was fine, less fuss which suits me.
Delighted to see Windows 11 being announced aswethey are still struggling to introduce Windows 10 in the organisation. So that’s a future headache I won’t need to work through.
Going away for a short break next week then some family visits for the next few weeks as the new chapter begins.
Here’s a couple of classics that I’ve had on today that feel appropriate :
https://www.youtube.com/watch?v=KQetemT1sWc&ab_channel=TheBeatlesVEVO
(https://www.youtube.com/watch?v=KQetemT1sWc&ab_channel=TheBeatlesVEVO)https://www.youtube.com/watch?v=edwk-8KJ1Js&ab_channel=BostonVEVO (https://www.youtube.com/watch?v=edwk-8KJ1Js&ab_channel=BostonVEVO)
PS Official leaving date still 16th July last few weeks are holidays
Congratulations!
Post by: Morning Glory on June 25, 2021, 07:48:05 AM
Post by: asauer on July 01, 2021, 06:05:36 AM
Post by: Eurotexan on July 01, 2021, 07:48:11 AM
Still haven't decided if this is FIRE or a sabbatical but I have plenty of time to figure that out. Not a bad place to be in!
Post by: asauer on July 01, 2021, 08:53:52 AM
Today is my last day! Feels weird that it's finally here after an 8 week notice period! Feels good though, I have done a thorough transition and left everything in as good a shape as I could. I have also enjoyed some leaving drinks and fun with my soon to be ex colleagues.
Still haven't decided if this is FIRE or a sabbatical but I have plenty of time to figure that out. Not a bad place to be in!
Congratulations! Can't wait to hear updates.
Post by: Dicey on July 01, 2021, 10:32:39 AM
Ditto!Today is my last day! Feels weird that it's finally here after an 8 week notice period! Feels good though, I have done a thorough transition and left everything in as good a shape as I could. I have also enjoyed some leaving drinks and fun with my soon to be ex colleagues.
Still haven't decided if this is FIRE or a sabbatical but I have plenty of time to figure that out. Not a bad place to be in!
Congratulations! Can't wait to hear updates.
Post by: Ladychips on July 01, 2021, 07:46:28 PM
We spent today at the cancer doctor's office. The doctor says he looks great, and we'll go back in four months. Pretty dang good for a guy who is six months past his original prognosis and right at his 2nd prognosis. He looks good and he feels good. We will absolutely take that!
The market for the last few years has been crazy, we have more money than I ever dreamed of.
The future looks bright...because for us, the future is one day at a time (or really, 4 months at a time!) and we don't take any of it for granted.
Post by: dblaace on July 01, 2021, 08:36:28 PM
My husband and I both retired yesterday. Our departures were very different. His was very emotional with crying and heartfelt goodbyes. Mine was me trying not to cackle as I walked out the door for the last time!
We spent today at the cancer doctor's office. The doctor says he looks great, and we'll go back in four months. Pretty dang good for a guy who is six months past his original prognosis and right at his 2nd prognosis. He looks good and he feels good. We will absolutely take that!
The market for the last few years has been crazy, we have more money than I ever dreamed of.
The future looks bright...because for us, the future is one day at a time (or really, 4 months at a time!) and we don't take any of it for granted.
Congratulations!
Post by: swaneesr on July 01, 2021, 08:49:14 PM
My husband and I both retired yesterday. Our departures were very different. His was very emotional with crying and heartfelt goodbyes. Mine was me trying not to cackle as I walked out the door for the last time!Wow. That is wonderful. Congratulations! Good luck and keep that positive outlook!
We spent today at the cancer doctor's office. The doctor says he looks great, and we'll go back in four months. Pretty dang good for a guy who is six months past his original prognosis and right at his 2nd prognosis. He looks good and he feels good. We will absolutely take that!
The market for the last few years has been crazy, we have more money than I ever dreamed of.
The future looks bright...because for us, the future is one day at a time (or really, 4 months at a time!) and we don't take any of it for granted.
Swanee
Sent from my iPad using Tapatalk
Post by: force majeure on July 01, 2021, 11:39:10 PM
It was harder than I expected, the psychological aspect of resigning, only decided one hour before doing it.
Work colleagues were shocked.
Post by: snowball on July 03, 2021, 09:10:57 AM
Can't move the date any sooner than that and still be professional about it; my contract requires four months of notice. Things are coming together now in terms of my successor's start date and training plan, and looks like we'll have a very orderly transition where I have some overlap time with my successor, which I am happy about for the sake of my colleagues, but I still kind of wish I could just sail off into the wild blue yonder now...
Post by: Need2Save on July 03, 2021, 12:16:02 PM
My department assembled an in-person surprise lunch this week to send me off properly (everyone had been vaccinated) and it was immensely satisfying (and emotional) to see most of my colleagues one last time. A couple of them I didn't really care to see, but they showed up with sour faces and played as if they cared I was leaving. Many of my teammates are still skeptical that I'm really retiring.
To highlight how much it sucks at working at a heartless corporate job, not a single executive (other than my direct boss) has reached out to say goodbye, thank you, good luck, nothing. Nadda! What assholes. I have managed over $100M worth of annual company costs for over 9 years. Saved them millions of dollars (literally). Handled numerous personal problems for each of these people and not a single one of them can say 'thank you for service and good luck to you'. A bunch of greedy, self-focused dicks. I got a better send-off from several former executives, two of which called me to offer me jobs! I guess I'm already dead to them. That's fine, you are dead to me too! Shamelessly, I hope the person you hired, which as I stated previously was not the best qualified person for my job, crashes and burns or leaves you after figuring out that people only seem nice in the honeymoon phase. Give it a few months and you'll see people's true colors. She has an enormous uphill battle ahead of her and a huge learning curve. Ironically, I figured out she is over 61. The reason my boss didn't give the job to the best candidate (who was closer to my age of 48) was because she thought she'd job hop on out of here after three years. How long do you think this one is sticking around? Who knows, maybe she'll stay 9+ years but I'm doubting it.
With that off my chest, I will report back on the 8th with gleeful joy and jubilation.
Post by: Dicey on July 03, 2021, 12:43:19 PM
Congrats Ladychips! I should have been walking out with you yesterday, but I did not. (hangs head in shame) Why? I am WAY too nice. I agreed to one more week which only involves three working days and one paid holiday (we have every other Friday off). So my new (and final) last day is July 8. Only three work days to go and it was on my terms: almost everyone thinks I am gone. I have to just wrap up two or three important tasks and be available for training/consulting my replacement to help answer questions, etc. It will be light and breezy. So pretty good exchange to net $2,200 (after taxes) in additional pay.I'd be so tempted to write each of them a nice note, telling them how much you enjoyed managing their money and saving them millions. Thank them for the opportunity. Rub their noses in it in the nicest possible way. However, it's likely that after two, maybe three
My department assembled an in-person surprise lunch this week to send me off properly (everyone had been vaccinated) and it was immensely satisfying (and emotional) to see most of my colleagues one last time. A couple of them I didn't really care to see, but they showed up with sour faces and played as if they cared I was leaving. Many of my teammates are still skeptical that I'm really retiring.
To highlight how much it sucks at working at a heartless corporate job, not a single executive (other than my direct boss) has reached out to say goodbye, thank you, good luck, nothing. Nadda! What assholes. I have managed over $100M worth of annual company costs for over 9 years. Saved them millions of dollars (literally). Handled numerous personal problems for each of these people and not a single one of them can say 'thank you for service and good luck to you'. A bunch of greedy, self-focused dicks. I got a better send-off from several former executives, two of which called me to offer me jobs! I guess I'm already dead to them. That's fine, you are dead to me too! Shamelessly, I hope the person you hired, which as I stated previously was not the best qualified person for my job, crashes and burns or leaves you after figuring out that people only seem nice in the honeymoon phase. Give it a few months and you'll see people's true colors. She has an enormous uphill battle ahead of her and a huge learning curve. Ironically, I figured out she is over 61. The reason my boss didn't give the job to the best candidate (who was closer to my age of 48) was because she thought she'd job hop on out of here after three years. How long do you think this one is sticking around? Who knows, maybe she'll stay 9+ years but I'm doubting it.
With that off my chest, I will report back on the 8th with gleeful joy and jubilation.
Post by: anotherAlias on July 04, 2021, 11:34:52 AM
Post by: Dicey on July 04, 2021, 11:40:49 AM
Last week I was questioning whether or not I should stay retired or try to find a low stress job. I was feeling bored and restless since my aching Achilles was keeping me from most of the projects I wanted to do this summer. As I was thinking about what kind of jobs I might want, my mom's Dr told her she needed to be admitted to the hospital for a nasty leg infection. So I packed my suitcase and drove the 4hrs to help out and visit her. For the past 4 days, I've been running errands, visiting the hospital and getting the house ready for her return. Not once did I have to worry about getting time off or working through the evening to make up hours or any such nonsense. She called, I packed and hit the road with no idea how long I would be at her house. Yep I think i timed this retirement thing just right. I'm definitely ready to sleep in my own bed again tomorrow but happy I could easily drive here to help and be with her. Score 1000 for retirement.FTFY. Still might have scored it too low. Good on you!
Post by: Trifle on July 04, 2021, 02:45:05 PM
Yep I think i timed this retirement thing just right.
Right on! A similar thing happened to me about two months after I retired. Emergency phone call that my dad was in the hospital. I just packed a bag and went. We talk a lot about how great FIRE is for US, but it's just as good for our loved ones.
That freedom is priceless.
Post by: FireLane on July 06, 2021, 04:06:54 PM
I wrote about it in my journal, but the quick summary is it was one of the most nerve-wracking things I've ever done. I've been at my job 15 years, and I've gotten comfortable. It's really tough to break free from a safe, familiar, well-paid routine and take that leap into the unknown. I can really understand how people wind up working a lot longer than they need to, just because it's the path of least resistance.
I haven't settled on an official last day. It'll probably be two weeks plus a few days, which will give me enough time to finish my current projects and use up my remaining vacation days. July 30 is a good outer-limit estimate.
Post by: boarder42 on July 06, 2021, 08:44:46 PM
Post by: Dicey on July 06, 2021, 09:46:26 PM
Post by: Aethonan on July 07, 2021, 06:59:08 PM
I wanted to update because a funny thing happened. After leaving my job mid-May (under the auspices of "I've been here long enough, I'm burned out, I'm taking an indefinite break to hike + volunteer + chill" -- all true), my old employer reached out to see if I could help out on a contract basis doing roughly the same job I used to have for roughly twice the pay (while there are no benefits, there are also no useless team meetings). It's a short-term gig for just one month until they (at long last) get my replacement in place and another person comes back from leave. Great project, my favorite supervisor, flexible hours (20-30/wk, WFH, on my own schedule). Heavenly by all objective measures.
So I've been doing this for 1.5 weeks now, and a few takeaways:
(1) I don't miss it. I knew when I left that I had an awesome gig, which is what made it hard to leave. But I have not once missed it. The parts of my job that I liked (writing, editing, researching), I've been able to do on my own terms since leaving anyway. Doing it all again (maybe because it's so soon?) has reminded me that... nope, I was happy when I wasn't doing this anymore.
(2) Even telling myself this will be "fun money," I can't get myself to spend much more than we usually do. I did tell my spouse to buy an extra couple of video games. We're not super frugal, but apparently we have our set-point.
(3) The money doesn't really matter to me. I know, I know, we're FI. But my spouse still works, so I thought I'd feel more motivated to help him get to his exit date sooner. Not sure if this is a failure of imagination, compassion, or what, but even with the doubled rate I'm not inclined to put in any more hours than I absolutely need to. So I guess I'm feeling more financially free than I realized (yay?). (Also, to be clear, he wasn't super excited about me working for these folks again. I have a hard time with boundaries sometimes. Work in progress.)
(3) Leverage is awesome. Intellectually I knew I've had it for a while now. But when I can say, "yes I'll do parts A and C for X hours/week, but no to part B," is super satisfying. What's that word... control? Control is nice. :)
(4) Even limiting my work to the very best parts of what I liked about my old job (which this fortunately is), it's shockingly hard to feel motivated. I still don't need to be doing this, and that's a huge loss of motivation right there!
So, you may ask, why on earth am I doing this? Three reasons. First and foremost, I'm young. I'm 33 and have no idea if I'll want to work again. (To be clear, I was off for barely more than a month when this gig started, so haven't exactly decompressed yet.) It seems prudent to keep my options open. I work in a small specialty field and the place I worked (work? oh no!) is one of the best in the business. So if I wanted to be able to dip my toe back into things in a year, they'd be who I'd go to for contract work. Taking them up on this keeps the door open (and let's me see what the life of a free-wheeling contractor is like!).
Second, and I know this will sound pollyannaish, but I like and respect both the person I'm working for and the client we're helping. I want to help them out. The small amount of motivation I've been able to find (aside from bribing myself with extra coffee) has really come down to that. I know they're a company, and I despise family metaphors in workplaces, so it's not about that. I just feel good being helpful. So really, I'm doing it for me. :)
Third, ego. It's nice to be wanted. ;)
TL;DR: RE fail after 1 month to do 1 month of PT contract work for old job twice pay; not regretting it, but also feeling validated that leaving was the right move! Still, will be back on the 2021 FIRE wagon after this. Hopefully this helps reinforce the "you never know what will happen" mantra I've seen so often on this forum!
Post by: boarder42 on July 08, 2021, 09:18:16 AM
Wow, just catching up on the awesome departures and updates from folks these last couple of weeks -- so amazing! Congratulations to those who pulled the plug!!
I wanted to update because a funny thing happened. After leaving my job mid-May (under the auspices of "I've been here long enough, I'm burned out, I'm taking an indefinite break to hike + volunteer + chill" -- all true), my old employer reached out to see if I could help out on a contract basis doing roughly the same job I used to have for roughly twice the pay (while there are no benefits, there are also no useless team meetings). It's a short-term gig for just one month until they (at long last) get my replacement in place and another person comes back from leave. Great project, my favorite supervisor, flexible hours (20-30/wk, WFH, on my own schedule). Heavenly by all objective measures.
So I've been doing this for 1.5 weeks now, and a few takeaways:
(1) I don't miss it. I knew when I left that I had an awesome gig, which is what made it hard to leave. But I have not once missed it. The parts of my job that I liked (writing, editing, researching), I've been able to do on my own terms since leaving anyway. Doing it all again (maybe because it's so soon?) has reminded me that... nope, I was happy when I wasn't doing this anymore.
(2) Even telling myself this will be "fun money," I can't get myself to spend much more than we usually do. I did tell my spouse to buy an extra couple of video games. We're not super frugal, but apparently we have our set-point.
(3) The money doesn't really matter to me. I know, I know, we're FI. But my spouse still works, so I thought I'd feel more motivated to help him get to his exit date sooner. Not sure if this is a failure of imagination, compassion, or what, but even with the doubled rate I'm not inclined to put in any more hours than I absolutely need to. So I guess I'm feeling more financially free than I realized (yay?). (Also, to be clear, he wasn't super excited about me working for these folks again. I have a hard time with boundaries sometimes. Work in progress.)
(3) Leverage is awesome. Intellectually I knew I've had it for a while now. But when I can say, "yes I'll do parts A and C for X hours/week, but no to part B," is super satisfying. What's that word... control? Control is nice. :)
(4) Even limiting my work to the very best parts of what I liked about my old job (which this fortunately is), it's shockingly hard to feel motivated. I still don't need to be doing this, and that's a huge loss of motivation right there!
So, you may ask, why on earth am I doing this? Three reasons. First and foremost, I'm young. I'm 33 and have no idea if I'll want to work again. (To be clear, I was off for barely more than a month when this gig started, so haven't exactly decompressed yet.) It seems prudent to keep my options open. I work in a small specialty field and the place I worked (work? oh no!) is one of the best in the business. So if I wanted to be able to dip my toe back into things in a year, they'd be who I'd go to for contract work. Taking them up on this keeps the door open (and let's me see what the life of a free-wheeling contractor is like!).
Second, and I know this will sound pollyannaish, but I like and respect both the person I'm working for and the client we're helping. I want to help them out. The small amount of motivation I've been able to find (aside from bribing myself with extra coffee) has really come down to that. I know they're a company, and I despise family metaphors in workplaces, so it's not about that. I just feel good being helpful. So really, I'm doing it for me. :)
Third, ego. It's nice to be wanted. ;)
TL;DR: RE fail after 1 month to do 1 month of PT contract work for old job twice pay; not regretting it, but also feeling validated that leaving was the right move! Still, will be back on the 2021 FIRE wagon after this. Hopefully this helps reinforce the "you never know what will happen" mantra I've seen so often on this forum!
Thanks for the update I reached out to Sol via pm when I rejoined and he had similar feelings going back for a bit and was like nah this isn't worth it. I'm worried/not really worried that it will be next to impossible to go back this fall just to get my bonus. May cut my hours more. We'll see
Post by: Malee55 on July 08, 2021, 03:56:33 PM
I have just had 2 weeks off on stress leave cos I am so burned out. Then when I was walking in to work on Wednesday I was contemplating actually going back to work in October after leave finished. By the end of the shift I had a stinking headache, and the day reinforced that I am making the right move.
The end is in sight!!
Post by: dblaace on July 10, 2021, 08:04:01 AM
Might be sooner.
Post by: Pylortes on July 11, 2021, 05:46:26 PM
I’m 44 years old and a drop out from 2019, so didn’t want to jinx things by committing to a class again in advance. But I pulled the plug finally on that shit. Quitting is hard, but I got nothing but supportive messages from colleagues and management when I told them my plans. I had individual conversation with over 40 people (I was at my job for well over a decade so had a lot of long standing relationships). I wanted my colleagues to hear it straight from the horses mouth and not second hand, so that process of communicating with everyone took a long time and was pretty draining. I did not message it as retirement but rather a long break to travel and spend time with family before I figure out my future plans next year. Truth is I do expect to work for some money again but not at a white collar type office job. People I spoke with seemed to really relate to and understand a long break vs. calling it retirement. I had a number of supportive messages from people who have taken time away. I also got 3 informal job offers from various people outside my company as well, so even though I have zero interest in those jobs, it was a nice compliment.
Post by: boarder42 on July 11, 2021, 07:12:00 PM
Not officially in this group yet, but my last day was 7/9. Can I join belatedly?? Gave notice in mid June. I’m drained/exhausted after a 4 week notice period and I still didn’t even get everything totally transitioned! Oh well. Someone’s else problem now I guess.
I’m 44 years old and a drop out from 2019, so didn’t want to jinx things by committing to a class again in advance. But I pulled the plug finally on that shit. Quitting is hard, but I got nothing but supportive messages from colleagues and management when I told them my plans. I had individual conversation with over 40 people (I was at my job for well over a decade so had a lot of long standing relationships). I wanted my colleagues to hear it straight from the horses mouth and not second hand, so that process of communicating with everyone took a long time and was pretty draining. I did not message it as retirement but rather a long break to travel and spend time with family before I figure out my future plans next year. Truth is I do expect to work for some money again but not at a white collar type office job. People I spoke with seemed to really relate to and understand a long break vs. calling it retirement. I had a number of supportive messages from people who have taken time away. I also got 3 informal job offers from various people outside my company as well, so even though I have zero interest in those jobs, it was a nice compliment.
Congrats. I feel like you have to call it something other than retirement pre 50 still. Helps keep the door open some as well as not getting a hard sell to stay on full time or part or what have you.
Post by: Trifle on July 12, 2021, 04:49:52 AM
Not officially in this group yet, but my last day was 7/9. Can I join belatedly?? Gave notice in mid June. I’m drained/exhausted after a 4 week notice period and I still didn’t even get everything totally transitioned! Oh well. Someone’s else problem now I guess.
I’m 44 years old and a drop out from 2019, so didn’t want to jinx things by committing to a class again in advance. But I pulled the plug finally on that shit. Quitting is hard, but I got nothing but supportive messages from colleagues and management when I told them my plans. I had individual conversation with over 40 people (I was at my job for well over a decade so had a lot of long standing relationships). I wanted my colleagues to hear it straight from the horses mouth and not second hand, so that process of communicating with everyone took a long time and was pretty draining. I did not message it as retirement but rather a long break to travel and spend time with family before I figure out my future plans next year. Truth is I do expect to work for some money again but not at a white collar type office job. People I spoke with seemed to really relate to and understand a long break vs. calling it retirement. I had a number of supportive messages from people who have taken time away. I also got 3 informal job offers from various people outside my company as well, so even though I have zero interest in those jobs, it was a nice compliment.
Congrats @Pylortes! Enjoy!
Post by: Poeirenta on July 12, 2021, 10:06:07 AM
It's a bit of a soft departure since I agreed to help with the hiring process for a replacement, which hopefully will not drag out too long. But no more staff meetings and all my projects and files were handed off on Thursday! Woo hoo!
Thanks to all of you on Team MMM Forum for the discussions and advice that got me this far. Onward!
Sent from my Z5157V using Tapatalk
Post by: Chaplin on July 12, 2021, 06:54:40 PM
Today is the first day of my "sabbatical of unknown length"! I forget who I stole that from, was it @Chaplin? I've also gotten nothing but support and a few "I've been thinking about that..." from colleagues and friends. Also a few offers to do contract work. Said no thanks to the one from my boss!
Buttercup: Westley, what about the S.O.U.L.'s?
Westley: Sabbaticals of Unknown Length? I think they don't exist.
(https://i.imgur.com/NV2Gr5B.gif)
Post by: RetireAbroadAt35 on July 13, 2021, 09:23:00 AM
But the plug is pulled as of April '21. No more OME over here. Now what? I dunno but I've got the time now to figure it out!
Post by: ScreamingHeadGuy on July 13, 2021, 10:08:09 AM
So far we have 110 folks here who will be FIRE in 2021 and 5 have gone OLY into the 2020 Cohort.
Average age of 2021ers is 44.91 (based on those 78 members who provided an age at FIRE date). 2020 average age was 48.32. 2019 average age was 47.38.
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Post by: ScreamingHeadGuy on July 13, 2021, 10:15:27 AM
Welcome and congratulations to @RetireAbroadAt35 @Pylortes and @boarder42 (mrs.)!
Welcome to @SmartyCat @Morning Glory and @boarder42 .
Here's a shout-out to @gary3411 @WildJager @80Westy @EricEng @ItalianGirl @icebox92 @sisto @newstart103 @YoungGranny @mld @SunniD and @mindfulrun asking for a status update - we would love to hear how you are doing.
Post by: Arbitrage on July 13, 2021, 12:03:11 PM
Post by: Need2Save on July 14, 2021, 11:55:02 AM
I am so immensely happy to be done with work. YIPPEEEEEE! Freedom is glorious. I don't have to worry about staying up too late and having to wake up early for anything. There are no emails pinging my phone all day long. I don't have to time my run/walks with the dog around bull-shit meetings. I don't have to pretend to be busy and wiggle my mouse every so often so it looks like I'm on line......Just absolutely loving it!
Post by: Well Respected Man on July 14, 2021, 07:17:19 PM
We ended up buying a house in the country very quickly, so I have a long list of projects to keep me busy while I get used to not working. It has a large barn, so plenty of room for future projects as well. I'm really looking forward to working on whatever I want.
I've been identifying "lasts" and items with expiration dates past my retirement date. It started a couple of years ago with credit cards and canned goods, and now has advanced to last vacation days, last haircut, last meetings of a particular series, and soon will include lettuce and milk 😀
Post by: friedmmj on July 16, 2021, 07:28:51 AM
I've been identifying "lasts" and items with expiration dates past my retirement date. It started a couple of years ago with credit cards and canned goods, and now has advanced to last vacation days, last haircut, last meetings of a particular series, and soon will include lettuce and milk 😀
I laughed out loud at your post. I've been doing this for a few months too, but mostly with holidays and work related annual tasks like performance reviews. I did calculate how many more haircuts until retirement recently though. I'm not retiring until next Feb, so I've got 4-5 of them left
Post by: Malee55 on July 18, 2021, 03:52:11 PM
Post by: sisto on July 20, 2021, 12:07:43 PM
The roster is updated for everybody through post #1318.You can add me to the confirmed list. I accidentally went early. Haven't worked since 2019 and officially retired from MegaCorp now too. Just signed up for COBRA.
So far we have 110 folks here who will be FIRE in 2021 and 5 have gone OLY into the 2020 Cohort.
Average age of 2021ers is 44.91 (based on those 78 members who provided an age at FIRE date). 2020 average age was 48.32. 2019 average age was 47.38.
Name Age (at FIRE) FIRE Date Aldi Early 50s 1/23/2020 OLY CrazyIT 56 3/13/2020 OLY Mmm_Donuts 3/20/2020 OLY Marcher Lady 49 12/15/2020 OLY Zinnie 38 10/22/2020 OLY Matz_70 50 1/1/2021 BikeFanatic 55 1/4/2021 Confirmed Sciurus 1/8/2021 Confirmed ScreamingHeadGuy 41 1/22/2021 Confirmed 12321 35 1/23/2021 Confirmed moneypitfeeder 42 1/29/2021 Confirmed Sultan58 1/31/2021 Confirmed fireflye 50 2/1/2021 goat_music_generator 27 2/2/2021 Confirmed dividendman 38 2/5/2021 Confirmed texxan1 2/15/2021 Confirmed Buffaloski Boris 56 2/28/2021 dreams_and_discoveries 39 February fiStressRelief 40 3/1/2021 Confirmed Dreamer40 40 3/3/2021 Confirmed Farfetchd 33 3/7/2021 Confirmed skyrefuge 43 3/12/2021 Confirmed TheContinentalOP 55 3/19/2021 logjammin 39 3/26/2021 Mrs. Healthywealth 42 3/26/2021 Confirmed Blindsquirrel 3/31/2021 Confirmed ronsbusa3 50 4/1/2021 Confirmed HumanAfterAll 44 4/2/2021 Confirmed Trede 51 4/2/2021 Confirmed marque 47 4/8/2021 Confirmed sailingTowardsFI 43 4/9/2021 Confirmed Abe Froman 4/16/2021 Confirmed simmias 47 4/16/2021 Confirmed Ottawa 49 4/16/2021 Confirmed OmgLmg 4/16/2021 Confirmed Tipster350 60 4/16/2021 Confirmed justchristine 4/27/2021 Confirmed bluebelle 4/30/2021 Need2Save (Mr.) 4/30/2021 Confirmed FireTheWorldOver 42 4/30/2021 Confirmed RetireAbroadAt35 April Confirmed LightTripper 45 April traveler 5/3/2021 Confirmed LD_TAndK 29 5/6/2021 Confirmed Peter Parker 5/7/2021 Confirmed cdn5cents 53 5/8/2021 Confirmed Geographer 30 5/10/2021 Confirmed aethonan13 33 5/14/2021 Confirmed MoStash 53 5/14/2021 Confirmed amberfocus 36 5/22/2021 Confirmed SheWhoWalksAtLunch 56 5/28/2021 Confirmed Chaplin 47 5/28/2021 Confirmed CoffeeR 55 5/31/2021 Confirmed SWAMI Mrs. Sloth May Confirmed gary3411 30 May WildJager 35 May 80Westy 50 May EricEng 36 May rightstuff 55 6/1/2021 Confirmed ItalianGirl 52 6/1/2021 phildonnia 50 6/2/2021 Confirmed JoJo 48 6/4/2021 Confirmed icebox92 36 6/4/2021 crazy jane 55 6/7/2021 Confirmed Sisto 52 6/7/2021 Arbitrage 43 6/10/2021 Confirmed Coast-FI Newstart103 40 6/11/2021 highlandterrier 47 6/25/2021 Confirmed YoungGranny 31 6/30/2021 Ladychips 55 6/30/2021 Confirmed mld 33 June SunniD June lukebowles 7/1/2021 Eurotexan 7/1/2021 Confirmed boarder42 (Mrs.) 34 7/7/2021 Confirmed Need2Save 48 7/8/2021 Pylortes 7/9/2021 Confirmed Dusty Dog Ranch 7/12/2021 Confirmed S.O.U.L. Jack0Life ('s wife) 32 7/31/2021 CarolinaGirl 50 July Norsky July FireLane 39 July Malee55 55 July force majeure 45 8/11/2021 asauer 43 8/20/2021 Bownyboy 49 9/7/2021 Well Respected Man 56 9/10/2021 ospreyjp 56 9/27/2021 frugalecon 9/30/2021 GBRS 36 September Nazar 10/1/2021 the_fixer 49 10/1/2021 damo October Boyband 37 October 4tify 54 October snowball 40 11/4/2021 Money Badger 53 12/1/2021 SmartyCat 12/17/2021 Accountant007 48 12/23/2021 Ulysses Everett McGill 55 12/31/2021 dblaace 60 12/31/2021 NoVa 12/31/2021 boarder42 35 12/31/2021 effigy98 43 December Wadiman December Morning Glory December mindfulrun 43 spring lightmyfire June-Sept monarda 61 TBD lemonlyman TBD dsw TBD MoneyTree TBD exit2019 TBD zombiehunter TBD SmartyCat 59 TBD
Post by: Dicey on July 20, 2021, 12:48:38 PM
Post by: icebox92 on July 21, 2021, 05:58:37 PM
Congratulations @highlandterrier @Eurotexan @Ladychips @Dusty Dog Ranch !
Welcome and congratulations to @RetireAbroadAt35 @Pylortes and @boarder42 (mrs.)!
Welcome to @SmartyCat @Morning Glory and @boarder42 .
Here's a shout-out to @gary3411 @WildJager @80Westy @EricEng @ItalianGirl @icebox92 @sisto @newstart103 @YoungGranny @mld @SunniD and @mindfulrun asking for a status update - we would love to hear how you are doing.
Thanks for the bump! I am actually still working, I was asked to stay on until August 6, so I guess I should have updated my date with the group. I was also asked to sign a consulting agreement which was quite a shock to me. I agreed to sign on to that... we will see how it pans out. That's my update... 2.5 weeks of work left. These may be the longest 12 days I've experienced since waiting to go into labor with my kids!
Post by: bownyboy on July 22, 2021, 06:37:22 AM
Now with all the covid that’s still going on I have at the back of my mind that we still can’t really plan any slow travel, but really want to head off as soon as we’re allowed. Also I’m just about done with working 5 days a week.
So with that in mind I said I’d consider an extension if a) I could go part time to 3 or 4 days a week and b) if I could take 3-4 weeks off together once covid allows travel.
They said yes to both, result!
So I may be jumping into the 2022 thread… We’ll see how it goes over the next couple of weeks.
Post by: asauer on July 22, 2021, 08:25:47 AM
Post by: MaybeBabyMustache on July 22, 2021, 08:40:27 AM
Good luck!
Post by: dblaace on July 22, 2021, 09:14:34 AM
Friends...I am struggling. I have 4 weeks until I give notice, 6 weeks until I leave. I am having a very hard time schlepping myself into the office everyday and doing the things. Anyone else struggled with this? How can I shake the blahs so I can go out on a high note?
I've been having similar problems. Mostly with office politics or anything that goes beyond the end of the year. Running out of f*cks to give.
My replacement starts Monday so things may change.
Post by: LaineyAZ on July 22, 2021, 09:15:18 AM
Friends...I am struggling. I have 4 weeks until I give notice, 6 weeks until I leave. I am having a very hard time schlepping myself into the office everyday and doing the things. Anyone else struggled with this? How can I shake the blahs so I can go out on a high note?
Are you going to be handing off your workload to someone else? One thing I did before I left was to leave a "procedures manual" (for lack of a better term) which gave a rough listing of the steps to take for certain types of work, and also the internal people who were knowledgeable about particular work-related things. Basically a resource for the day-to-day stuff that isn't usually written down anywhere else.
Even though I had several weeks overlap with the person who took over my job, they were grateful to get my "brain dump" before I left.
Would that be something you could spend time on?
Post by: boarder42 on July 22, 2021, 09:38:18 AM
Friends...I am struggling. I have 4 weeks until I give notice, 6 weeks until I leave. I am having a very hard time schlepping myself into the office everyday and doing the things. Anyone else struggled with this? How can I shake the blahs so I can go out on a high note?
I've been having similar problems. Mostly with office politics or anything that goes beyond the end of the year. Running out of f*cks to give.
My replacement starts Monday so things may change.
this is how i feel on FMLA today, I am going to go back to the office for 4 months at the beginning of sept and i can't fathom how awful i'll be at things. Not that I did much before I am incredible at delegation. My GAF is about as low as its ever been. And I don't have the energy to put my brain on paper so who ever takes over will have fun.
Post by: anotherAlias on July 22, 2021, 01:08:36 PM
Post by: Malee55 on July 22, 2021, 04:38:42 PM
Post by: LightTripper on July 22, 2021, 04:47:02 PM
Even though I've so far only dropped to part time, with school/nursery closures for Covid and from a general management of life perspective it's still made a massive difference! I suspect going to zero (or close to zero) will now slip to 2022, but I'm already seeing the benefits of FI.
Post by: sisto on July 22, 2021, 05:24:47 PM
Congrats on 2LY, @sisto! Care to share your thoughts on Cobra vs. ACA?@Dicey I'm not going to be able to get subsidies for ACA due to income levels. I ended up being disabled from a car accident and am currently receiving SSDI and LTD. I will be able to get Medicare in December so for now it's best to just pay the premiums for COBRA. I will look into what will be best for my wife during open enrollment, but probably just keep COBRA for her until it runs out. I also have a special account from MegaCorp retirement that helps pay premiums. It works like an FSA for getting reimbursed for COBRA premiums. I can use it until the funds are gone. I'm not complaining, having too much money is not a bad thing. Thankfully my accounts have continued to grow and I haven't had to dip into them.
Post by: Dreamer40 on July 22, 2021, 05:53:05 PM
So I had another, thank God I'm not working moment this week. 6 months ago my routine mammogram showed calcifications and they recommended a 6 mo. follow up. On Friday, I had the 6 month follow up and they wanted a biopsy to rule out cancer. It was such a relief to not have to worry about work and being able to focus 100% on me. Thankfully everything came back benign but what a stressful few days. I think I will be reassessing my health insurance at open enrollment.
I’m so glad you’re ok! I had the same feeling this week when, after a routine mammogram, I had to go back for more images to rule out what looked like a potential mass. I’m also fine. There was nothing there. I was also so relieved that I could take the first appointment without consulting a work schedule.
In other news, I think I’m going to try my hand at fiction writing. I don’t feel terribly committed so I’m trying to dedicate 30 minutes a day to it for this first week. I’d like to think of myself as a fiction writer, but I don’t have a commitment bone left in my body after retiring from my shitty lawyer job. We’ll see if I stick with this. I’m slowly working my way through the Gotham Writer’s Workshop book and following their writing prompts. After writing legal briefs for years, I feel like I need to prove to myself that I could write something fun that people would actually want to read. Prove that being a lawyer didn’t break me.
Post by: Well Respected Man on July 22, 2021, 08:19:03 PM
Friends...I am struggling. I have 4 weeks until I give notice, 6 weeks until I leave. I am having a very hard time schlepping myself into the office everyday and doing the things. Anyone else struggled with this? How can I shake the blahs so I can go out on a high note?Yes, I'm getting more and more pissed that I have to work. My boss has really descended into micromanagement, and it will not end well for him. I'm giving notice on Monday, can't wait!
I've found that focusing on my immediate future projects and hobbies helps some.
Post by: anotherAlias on July 23, 2021, 04:44:30 AM
So I had another, thank God I'm not working moment this week. 6 months ago my routine mammogram showed calcifications and they recommended a 6 mo. follow up. On Friday, I had the 6 month follow up and they wanted a biopsy to rule out cancer. It was such a relief to not have to worry about work and being able to focus 100% on me. Thankfully everything came back benign but what a stressful few days. I think I will be reassessing my health insurance at open enrollment.
I’m so glad you’re ok! I had the same feeling this week when, after a routine mammogram, I had to go back for more images to rule out what looked like a potential mass. I’m also fine. There was nothing there. I was also so relieved that I could take the first appointment without consulting a work schedule.
In other news, I think I’m going to try my hand at fiction writing. I don’t feel terribly committed so I’m trying to dedicate 30 minutes a day to it for this first week. I’d like to think of myself as a fiction writer, but I don’t have a commitment bone left in my body after retiring from my shitty lawyer job. We’ll see if I stick with this. I’m slowly working my way through the Gotham Writer’s Workshop book and following their writing prompts. After writing legal briefs for years, I feel like I need to prove to myself that I could write something fun that people would actually want to read. Prove that being a lawyer didn’t break me.
Im glad you got the all clear too. Cheers to healthy boobs. I've also struggled with committing to big projects. I'm nowhere near as far along with my landscaping as I thought I would be. I really want the finished result but just haven't had energy to follow through. Since the kid finally decided she wanted a graduation party, I have some incentive to get the yard looking decent. I have 2 weeks to get 2 more foundation beds planted and to clean out the garage so we have room for all these people.
Post by: asauer on July 23, 2021, 07:15:25 AM
Friends...I am struggling. I have 4 weeks until I give notice, 6 weeks until I leave. I am having a very hard time schlepping myself into the office everyday and doing the things. Anyone else struggled with this? How can I shake the blahs so I can go out on a high note?
Are you going to be handing off your workload to someone else? One thing I did before I left was to leave a "procedures manual" (for lack of a better term) which gave a rough listing of the steps to take for certain types of work, and also the internal people who were knowledgeable about particular work-related things. Basically a resource for the day-to-day stuff that isn't usually written down anywhere else.
Even though I had several weeks overlap with the person who took over my job, they were grateful to get my "brain dump" before I left.
Would that be something you could spend time on?
Post by: asauer on July 23, 2021, 07:16:40 AM
Friends...I am struggling. I have 4 weeks until I give notice, 6 weeks until I leave. I am having a very hard time schlepping myself into the office everyday and doing the things. Anyone else struggled with this? How can I shake the blahs so I can go out on a high note?Yes, I'm getting more and more pissed that I have to work. My boss has really descended into micromanagement, and it will not end well for him. I'm giving notice on Monday, can't wait!
I've found that focusing on my immediate future projects and hobbies helps some.
Thanks! pretty sure this is the route I will have to take. Focus on the future!
Post by: asauer on July 23, 2021, 07:17:51 AM
@asauer - I'm not there yet (Feb, 2022 is my expected date), but I too am struggling with this. I'm a long time "achiever" at work, and lately have been struggling with the basics. I make an actionable to do list every day, focus on the things I can do (in your case, maybe mostly transition related?) & remind myself that I built a long career & a great reputation, and am not interested in risking that for a few months.
Good luck!
Yes! I am a very goal oriented person so that probably is part of why I feel so bleh now.
Post by: YoungGranny on July 23, 2021, 07:36:32 AM
Post by: sisto on July 23, 2021, 12:57:04 PM
My husband got laid off in June of 2020 - 5 weeks before our daughter was born. It actually worked out and he just went ahead and quit working a year ahead of schedule so our daughter didn't have to go to daycare. I secured a full-remote position with my company which gives me a lot of flexibility. Long story short, I'm moving my FIRE date back to 2022 (ugh I know the dreaded 'one more year' update) but my husband won't be returning to work and my daughter gets to stay home for now so it's a win :)Sounds like it's the perfect thing for your family!
Post by: Malee55 on July 23, 2021, 04:01:25 PM
Post by: rightstuff on July 25, 2021, 10:35:18 AM
Here's a big group congratulations to @SheWhoWalksAtLunch @CoffeeR @Chaplin @Geographer @Mrs. Sloth @crazy jane @Arbitrage @rightstuff @phildonnia @JoJo - you are all awesome and have earned your reward.
Welcome to the cohort @newstart103 and @SmartyCat .
General updates made to the list.
Thanks, it's been a great 50 days being retired. I dont miss the office or work in the least bit, DW isn't regretting her decision to retire either, we've seen alot of family and friends that we usually don't get to visit with for any length of time. The fun thing is how various neighbors have stopped us on the street concerned about why we are in the yard or on a walk during normal office hours.
Congrats to everyone who has been able to pull the plug and good luck to the rest of the cohort, You can do it!
Post by: Well Respected Man on July 26, 2021, 03:37:23 PM
Post by: RWTL on July 26, 2021, 05:41:19 PM
Gave notice today; boss was shocked, but recovered. Should be an easy two weeks. Last day will be 8/6.
Congrats!
Post by: Dicey on July 26, 2021, 09:07:12 PM
Post by: Morning Glory on July 26, 2021, 11:05:43 PM
DH has been eligible to retire since May. When queried, he's never given me a straight answer. He just told me he had an appointment with the retirement counselor. In order to get the most optimal benefits package, he needs to give 5-6 weeks notice. When I retired in 2012, there was no cohort, so I'm throwing his name in the 2021 group, because I hope he'll pull the plug this year, not next. Just for grins, let's call it October 31, 2021 and see how close I get. In my journal, he's known as IKAG, which stands for "I know a guy..."
Congratulations IKAG!!! Oct 31 is my favorite holiday.
Post by: asauer on July 28, 2021, 06:43:54 AM
Post by: CarolinaGirl on July 28, 2021, 09:10:31 AM
Post by: professordough on July 28, 2021, 09:08:13 PM
Thanks!
Post by: ScreamingHeadGuy on July 30, 2021, 08:10:14 PM
So far we have 110 folks here who will be FIRE in 2021, 5 have gone OLY into the 2020 Cohort, and one has 2LY into 2019.
Average age of 2021ers is 45.08 (based on those 78 members who provided an age at FIRE date). 2020 average age was 48.32. 2019 average age was 47.38.
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Post by: ScreamingHeadGuy on July 30, 2021, 08:27:18 PM
Welcome and congratulations to @professordough . Always fun when the first post in our cohort is an "Add me to the list as confirmed". :-)
Welcome to Dicey's husband.
Way to go @YoungGranny with the family work/life balance victory, even if it means you have to go with another cohort. But what is a few months?
Awesome news on the health front @justchristine .
There are 20 folks on The List who haven't confirmed yet - if you happen to have seen any of them post in other threads or in journals a status update please let me know and we'll get The List updated on their behalf.
My own, 6-month update: Finances continue to go up and my WR is now only 2.56%. We've had a two-week-long stretch with SIL and nephews visiting - did many things as a family. Will be celebrating 11th anniversary soon. Foreign exchange student arrival date has been nailed-down and I've been (slowly and haltingly) continuing my language lessons. Recommitted myself to Stoic practices and it's been paying-off with anger management. I haven't been exercising as much as I'd like to so I should change that. Shield-crafting (I've done both round shields and curved heater shields) has gone well and I'm looking forward to painting them. D&D group has taken a month off for summer vacations and stuff so I'm itching to get back to that.
Post by: dblaace on July 31, 2021, 05:09:19 AM
My last working day looks to be 11/24/21 and vacation till 12/23/21 or however many vacation days I have left.
Or OBD.
Post by: LightTripper on July 31, 2021, 03:34:44 PM
I think I am going to have to face the reality that I will not be FIREing until 2022, so I will officially OMY and take myself to the 2022 thread!
I really did think that going part time would leave me working around 1.5 days a week and feeling pretty retired.
The reality is that a combination of Covid (meaning childcare has been patchy) and a couple of long-standing work projects that I want to finish off myself coming back to life (meaning I've been working more like 3-4 days a week) mean I really haven't felt retired at all. Don't get me wrong, going part time has been great, and I would have been WRECKED by now if I had been still trying to work full time. But ... it is not retired. Not for me, not yet.
I think I will probably (hopefully!) have a lull from October until the end of the year - but then at least one of my projects will be busy next spring, and I'd expect to finally finish up when that closes around Easter.
Congratulations to everyone who has made it already, and best wishes to everyone who is so close to the finish line now.
Chapeau!
Post by: FireLane on July 31, 2021, 07:18:23 PM
I put in my notice today, woohoo! FIRE, here I come!
I wrote about it in my journal, but the quick summary is it was one of the most nerve-wracking things I've ever done. I've been at my job 15 years, and I've gotten comfortable. It's really tough to break free from a safe, familiar, well-paid routine and take that leap into the unknown. I can really understand how people wind up working a lot longer than they need to, just because it's the path of least resistance.
I haven't settled on an official last day. It'll probably be two weeks plus a few days, which will give me enough time to finish my current projects and use up my remaining vacation days. July 30 is a good outer-limit estimate.
Update: I'm retired in every sense but the official!
My last day of work was July 23, but I have some vacation days I'm using up, so I'm still technically employed until August. I expect to have my formal exit interview on August 9. I'll update again and confirm myself FIREd when that's done.
Post by: Dicey on July 31, 2021, 09:19:27 PM
Post by: Nemesis. on August 03, 2021, 02:58:34 PM
I hit my fire number a couple of months ago and was dealing with a lot of stress at work.
With some encouragement from members on this forum, I decided it wasn't worth the stress and gave notice yesterday.
My official FIRE date is now August 13, 2021! Woohoo! :)
Post by: Malee55 on August 03, 2021, 03:18:14 PM
Post by: sisto on August 03, 2021, 03:25:50 PM
Post by: Morning Glory on August 03, 2021, 07:24:58 PM
Well I was originally shooting for the end 2023, then it was going to be May 2022, then January 2022, then October 15, 2021.
I hit my fire number a couple of months ago and was dealing with a lot of stress at work.
With some encouragement from members on this forum, I decided it wasn't worth the stress and gave notice yesterday.
My official FIRE date is now August 13, 2021! Woohoo! :)
Congratulations!!!
Post by: Jack0Life on August 03, 2021, 09:37:59 PM
Well I was originally shooting for the end 2023, then it was going to be May 2022, then January 2022, then October 15, 2021.
I hit my fire number a couple of months ago and was dealing with a lot of stress at work.
With some encouragement from members on this forum, I decided it wasn't worth the stress and gave notice yesterday.
My official FIRE date is now August 13, 2021! Woohoo! :)
Awesome. Be great if you can share what's your annual expenses will be like.
Post by: Canuck042 on August 05, 2021, 08:05:30 AM
Some health issues and general COVID restlessness make this a good time. I've read so many stories here and agree with a lot of the feelings as I count down the final 3 months - but instead of rehashing the same things I'll just say I'm 'cautiously optimistic'.
Thanks for making this forum so inviting: looking forward to hanging out in Post-FIRE :)
Post by: Malee55 on August 05, 2021, 03:55:52 PM
Post by: sisto on August 05, 2021, 09:28:02 PM
First Post! Nov 5th 2021 will be my last day, age 45. Management knows, and key staff, but the rest of my coworkers won't be told until my replacements are decided: probably at 60 days out.Congratulations!
Some health issues and general COVID restlessness make this a good time. I've read so many stories here and agree with a lot of the feelings as I count down the final 3 months - but instead of rehashing the same things I'll just say I'm 'cautiously optimistic'.
Thanks for making this forum so inviting: looking forward to hanging out in Post-FIRE :)
Post by: FireLane on August 06, 2021, 04:07:27 PM
I put in my notice today, woohoo! FIRE, here I come!
I wrote about it in my journal, but the quick summary is it was one of the most nerve-wracking things I've ever done. I've been at my job 15 years, and I've gotten comfortable. It's really tough to break free from a safe, familiar, well-paid routine and take that leap into the unknown. I can really understand how people wind up working a lot longer than they need to, just because it's the path of least resistance.
I haven't settled on an official last day. It'll probably be two weeks plus a few days, which will give me enough time to finish my current projects and use up my remaining vacation days. July 30 is a good outer-limit estimate.
Update: I'm retired in every sense but the official!
My last day of work was July 23, but I have some vacation days I'm using up, so I'm still technically employed until August. I expect to have my formal exit interview on August 9. I'll update again and confirm myself FIREd when that's done.
Update to the update: My exit interview was today. I'm now officially retired. Please mark me CONFIRMED!
Post by: Dicey on August 07, 2021, 01:44:16 AM
Post by: sisto on August 07, 2021, 10:19:40 AM
Post by: Pylortes on August 10, 2021, 12:16:45 PM
I’m still in the early phases of figuring out what a typical day looks like for me. Now that I’m finally back home I made a list of 24+ projects (and growing) I want to tackle around the house and financially. So far I have checked off 1, hah ha (it’s only been 2 days!). Unfortunately my list of side projects may end up getting pushed aside as school is about to start and our local school district is not requiring masks despite local and national surges in case numbers so I may be thrown into educating my 5th grader at home unless they make an abrupt change. Oh well, I have the flexibility to change plans now. Also, my spouse has just accepted a remote position with a new company. Once this COVID wave settles down we will look at putting our house on the market and relocating. I’ll be able to absorb much of the logistical work without having to worry about work. After years of living in a location I would not have picked, finally we may be able to move on.
I wanted to retire at 42, but I’ll take 44. I’ve had supportive conversations with a number of people since I left work. Funny thing is lots of people on this forum report pushback and blank stares when they tell people they’ve retired, but I’ve had sort of the opposite- my family or friends would tell someone else for me with a grin on their face that I just retired- and then I sort of backtrack/clarify that I consider myself retired from white collar office work, but I will probably be interested in getting some part time paid work next year doing something reasonably fun outside. I probably should lean in further on calling myself retired, but I’ve been bracing for those blank stares and questions based on what I’ve read from others on this forum. Maybe the general public has spent more time thinking about their priorities and family with everything going on since 2020 and can more relate to wanting to take a break from work?
I’ve seen a number of posts of people close to their retirement day who are struggling with stress/motivation. I can certainly relate. I felt enormous stress the last 6 months or so, and it did not get much easier for me even after I had given notice as I felt I had so many loose ends to tie up. I didn’t even end up getting everything I wanted to taken car of before I left, but you know what? It’s alright and I’m not worried about that stuff anymore. Just a little encouragement for others who are struggling to get to their end date.
Post by: snowball on August 11, 2021, 02:13:49 AM
I’ve seen a number of posts of people close to their retirement day who are struggling with stress/motivation. I can certainly relate. I felt enormous stress the last 6 months or so, and it did not get much easier for me even after I had given notice as I felt I had so many loose ends to tie up. I didn’t even end up getting everything I wanted to taken car of before I left, but you know what? It’s alright and I’m not worried about that stuff anymore. Just a little encouragement for others who are struggling to get to their end date.
I keep thinking that - objectively speaking - this is the least stressful period I've had at work in a while. And yet, I'm having a hard time with it. I think it's a combination of being emotionally done and ready to leave, and generally burnt out from the last few years so there's just not a lot of gas in the tank. I'm trying to minimize my remaining obligations and delegate a lot, which is helping...If literally all I had to do anymore was train people and update documentation, I think I could deal with that okay, lol. I still have some project work left to wrap up though, and for all that I'm trying to disentangle myself, I still care about the loose ends (and there are So Many).
I'm trying to better internalize and accept the reality that there are going to be loose ends left over no matter what, and that the people left behind will deal with them - I am not an essential piece of the puzzle, and the waters will flow in to fill the organizational gap I leave behind. Someone else will deal with the inevitable leftover loose ends, and if not, maybe they weren't that important after all.
My plan has been to work until Nov 4 without taking leave between now and then, and get an annual leave payout at the end - it's about a month's worth so it's a nice chunk of $. Plus there are some training sessions I want to run for people in October, and it'll work better to do it then rather than in September. This week I've started seriously considering taking leave for most of Oct and just coming in 1-2 days a week for the training sessions though...
You'd think that the closer you get to the finish line, the easier things would get. And in some ways that is true, but it also seems to get harder to hang on when freedom is so close that you can taste it.
But I've promised myself that if by September I still want to take most of October off, then I'll go ahead and schedule it as annual leave. So maybe that means I really only have about seven weeks left! Plus a few training sessions, which, whatever, I can do most of that with my eyes closed. :P
(I am contractually required to give 4 months of notice. Based on conversations with past coworkers, it's not unusual for people to struggle a bit with that long of a notice period - it's a long time emotionally when you're ready to leave and you've made the decision to leave. Some people just leave and don't give notice at all, despite what their contracts say, but I've been treated fairly enough in my time here and don't feel that's justified.)
Post by: snowball on August 12, 2021, 02:48:50 AM
I am so much happier with this plan. Who needs more $, anyway...I'd rather have more time and less stress (and if I'm only working 2 days a week, I'll be able to keep way stronger boundaries around the type of work I'm doing, and not get pulled back into projects much at all - just delegate and toss people advice while I eat popcorn and watch from the sidelines, heh).
Post by: dblaace on August 17, 2021, 07:25:53 PM
Post by: Ladychips on August 17, 2021, 09:18:48 PM
According to Alexa I have 99 days days remaining.
Double digits day is a very good day!
Post by: mindfulrun on August 22, 2021, 07:12:24 AM
"FU money" is real!
Best of luck to all of you on your journey!
Post by: AO1FireTo on August 22, 2021, 07:28:03 AM
You can drop me from this cohort. I put in my notice in March, but the company really didn't want to lose me. They said I could redefine my job, and have the freedom to do it when and how I wanted. I transferred my team and customers to my replacement and was finally able to take some time off. My phone rarely rings after hours and I only have a few emails when I boot up my computer in the morning - a drastic change from six months ago. Work has been more rewarding and orders of magnitude less stressful. So, instead of being on the lean-FIRE route, I'll continue to work until it's no longer satisfying - then I'll hang it up (but in a much better financial situation).
"FU money" is real!
Best of luck to all of you on your journey!
This is great, you could post this in the "FU Money" tread too. What a great position of power.
Post by: LightTripper on August 23, 2021, 03:29:30 AM
Post by: the_fixer on August 23, 2021, 03:49:44 PM
It is a combination of not being able to travel like I want with COVID, winter around the corner and wanting to have the house paid off a month or two before her term is up so we having nothing holding us back.
The picture should start to become clearer after the first of the year as her job should start indicating if she will be hired or moved to a grant plus we will just be returning from an exploratory trip to Costa Rica that will hopefully result in us relocating.
Damn that was one of the hardest decisions I have ever made.
Sent from my iPhone using Tapatalk
Post by: crazy jane on August 23, 2021, 08:17:40 PM
Post by: asauer on August 24, 2021, 12:40:12 PM
Post by: Aethonan on August 25, 2021, 11:19:04 AM
Regrettably I am going to give into the OMY syndrome, we are FI (3.6 WR) but I want to see what is going to happen when my wife’s term is up next year.
Good luck fixer! You're still in a great position to be flexible and set work boundaries, so hopefully this next year is a net positive for you emotionally, as well as financially!
Crazy jane, enjoyed your update :) Weekdays without work are the best!
Post by: the_fixer on August 25, 2021, 11:53:05 AM
Thanks, I almost put in my resignation almost 24 hours after posting this due to yet another exposure with a positive COVID individual at work.Regrettably I am going to give into the OMY syndrome, we are FI (3.6 WR) but I want to see what is going to happen when my wife’s term is up next year.
Good luck fixer! You're still in a great position to be flexible and set work boundaries, so hopefully this next year is a net positive for you emotionally, as well as financially!
Crazy jane, enjoyed your update :) Weekdays without work are the best!
I believe this is the 4th time since March of 2020 that I have had a significant exposure with a confirmed positive individual that they have failed to notify me or notified me a week + later. Countless close calls and who knows how many they never told me about.
Only way I found out was a co worker from another state telling me that everyone in his area was being tested due to attending a function at my location where one of the participants went home early sick and tested positive. Meanwhile I am going about life having no idea someone I was in the same room with, same bathroom, same break area multiple days was sick and tested positive.
The carelessness and disregard is what really angers me, I accept that I could be exposed out in daily life that is why I was vaccinated but it just makes me so mad that they do not tell anyone or take any precautions. We had people from multiple states attending, catering buffet style, no masks and a low percentage of people are vaccinated where I work so who knows how many are taking it back with them.
Sent from my iPhone using Tapatalk
Post by: crazy jane on August 25, 2021, 02:12:01 PM
Post by: Aethonan on August 25, 2021, 03:10:50 PM
Post by: dougules on August 27, 2021, 10:24:26 AM
I actually started the 2021 cohort list back in 2016, so I'm just going to take credit for all of you getting to FIRE. You're all very welcome :)
It's been a long 5 years.
Ha, crazy jane that's pretty funny because it was about 5 weeks after I left my job that I got asked to do some PT work for former employer. Still doing a bit of it now (thought probably not for much longer)! Funny how things work out... good luck with your decompression and future relaxed gigs!
Are you even allowed to post here any more now that you're working again? :)
Post by: Aethonan on August 27, 2021, 11:35:42 AM
Are you even allowed to post here any more now that you're working again? :)
Yup, 100% hypocrisy... or at least until I finally manage to overcome that combination of guilt and greed and drop the lingering PT work (soon! very soon!). I guess showing up here is some motivation ;)
Post by: Dicey on August 27, 2021, 02:58:35 PM
Post by: Morning Glory on August 27, 2021, 04:48:21 PM
Post by: Well Respected Man on September 01, 2021, 05:34:55 AM
So far, it just feels like I've been on vacation, because we've done some traveling, and my wife hasn't been working. With school starting, she's back to work, and I'll find out what my day-to-day and week-to-week life will be like (right after this quick long weekend in Quebec). We also have some new annual cycles that we're just starting, so it will really take a few years to figure out how this will work.
Post by: sisto on September 01, 2021, 11:45:04 AM
Post by: Aethonan on September 02, 2021, 09:38:55 AM
Quick update here: As Dougules suggested, I may be a FIRE failure already :) I was just about to step out of the last remaining PT projects I'd picked up to help out old employer, when a friend offered me new PT work that is actually socially valuable... like the kind of thing I actually intrinsically care about and want to work on. Would I do it for free? Nope. But I'm going to give it a shot and see how it goes. I think there's a 30% chance I'll actually last more than a month or two, but we'll see!
I guess that's the freedom FIRE provides: to try something for the sake of it and feel zero pressure on whether it works out!
Post by: dougules on September 02, 2021, 11:41:42 AM
Congratulations Well Respected Man and Morning Glory! It must feel so good.
Quick update here: As Dougules suggested, I may be a FIRE failure already :) I was just about to step out of the last remaining PT projects I'd picked up to help out old employer, when a friend offered me new PT work that is actually socially valuable... like the kind of thing I actually intrinsically care about and want to work on. Would I do it for free? Nope. But I'm going to give it a shot and see how it goes. I think there's a 30% chance I'll actually last more than a month or two, but we'll see!
I guess that's the freedom FIRE provides: to try something for the sake of it and feel zero pressure on whether it works out!
That's not FIRE failure; it's FIRE success.
Post by: LightTripper on September 02, 2021, 12:30:26 PM
Post by: Dreamer40 on September 02, 2021, 05:53:38 PM
In other news, my post-retirement gardening projects are literally bearing fruit. Early March was a great time to quit! It’s so satisfying to be eating and preserving my first harvest. I just cleared some yard space for fruit trees to put in next spring. Can’t wait to expand the project even further.
Post by: Malee55 on September 03, 2021, 04:02:04 PM
Post by: Aethonan on September 04, 2021, 08:40:53 AM
Post by: Much Fishing to Do on September 05, 2021, 07:12:01 AM
Congratulations Well Respected Man and Morning Glory! It must feel so good.
Quick update here: As Dougules suggested, I may be a FIRE failure already :) I was just about to step out of the last remaining PT projects I'd picked up to help out old employer, when a friend offered me new PT work that is actually socially valuable... like the kind of thing I actually intrinsically care about and want to work on. Would I do it for free? Nope. But I'm going to give it a shot and see how it goes. I think there's a 30% chance I'll actually last more than a month or two, but we'll see!
I guess that's the freedom FIRE provides: to try something for the sake of it and feel zero pressure on whether it works out!
That's not FIRE failure; it's FIRE success.
THat sounds like a perfect FIRE to me. Of course, I'll always be in trouble with the FIRE police as I'm keeping my grade school crossing guard that does pay me something. I probably would do it for free (I give more in charitable contributions than the job makes in a year, so I tell myself it goes to that), but too much potential liability in a job like that for me not to take the local govt employee position officially.
I like how it frames my day but uses so little of it (45 mins including commute in morning, same in afternoon) makes me go outside even in bad weather, makes me interact in my friendly community, doesn't involve staring at a computer screen, and gives me one additional feeling of purpose in life (the position was unfilled for a year before I took it, but in the past year I grabbed a kid on a scooter that was about to shoot out into fast moving traffic). And as long as my youngest is still in the school district its not preventing me from traveling, as its by definition only on the days he's in school.
To be in a position to take a crappy paying but otherwise awesome job, but yet still financially support my family well is a winning destination in my book.
Post by: billy on September 07, 2021, 05:41:30 AM
Post by: Dreamer40 on September 07, 2021, 11:20:02 AM
Post by: Ladychips on September 07, 2021, 12:35:00 PM
And… I already the quit the freelance job I was supposed to start today. Even though it’s something I always thought I wanted to do, I was dreading it all weekend. And having panic attacks seeing emails related to it coming in over the weekend. It turns out that I REALLY resent the idea of professional obligations of any kind right now. Maybe that will change and the door is still open to future work. But instead of sitting at my desk this afternoon, I get to go swim in the river with my niece and her other auntie. And then assemble a worm composter. I’m surprised that I don’t want to do this job at all. But I’m going to go with my gut! It’s weird and wonderful to be in a position to turn down work.
I LOVE that you listened to your gut. Yea you!
Post by: Aethonan on September 07, 2021, 07:57:01 PM
And… I already the quit the freelance job I was supposed to start today. Even though it’s something I always thought I wanted to do, I was dreading it all weekend. And having panic attacks seeing emails related to it coming in over the weekend. It turns out that I REALLY resent the idea of professional obligations of any kind right now. Maybe that will change and the door is still open to future work. But instead of sitting at my desk this afternoon, I get to go swim in the river with my niece and her other auntie. And then assemble a worm composter. I’m surprised that I don’t want to do this job at all. But I’m going to go with my gut! It’s weird and wonderful to be in a position to turn down work.
Ha, good for you! That's awesome that you listened to your inner voice and are renewing your joy in post-work life for now!
Post by: XGE on September 08, 2021, 06:12:17 PM
I've been a long time lurker on the forum and have learned a lot from all of the discussions over the years. So, I finally decided to sign up for an account. I'm in the final months of wrapping up my government career on 31 December 2021. I'm really looking forward to starting a new chapter in my life!
Post by: Ladychips on September 08, 2021, 08:01:24 PM
Post by: snowball on September 09, 2021, 11:58:07 PM
As of now, I am no longer full time! I'm down to two workdays per week until my last week in November. Exactly 18 working days remaining!
I am still feeling a little bit of stress over getting some final things wrapped up at work, but I've set down much of the mental load and I feel so much lighter! Now that I'll only be working part-time, I'm looking forward to really getting ready for moving out of the country + downsizing my possessions (to one suitcase + carryon + a box I'm shipping to my sister).
Items on today's agenda: napping and cuddles with the kitten I'm fostering, lol. It is proceeding as planned. Kitten is pleased the human appears to be staying home today, unlike the Terrible Times of Earlier In The Week when All Day No One Was There To Give Cuddles. (All Day. ALL DAY. It was Made Known to the human that this was an issue...perhaps human did not understand, and finally figured it out. Humans often do need a lot of repeated, patient communication before they get the picture.)
Post by: CarolinaGirl on September 10, 2021, 04:07:51 AM
Post by: Dicey on September 10, 2021, 07:32:50 AM
Today is it for me! Woohoo!!!! Ending a 23 year career in banking and looking forward to the future! 5pm can’t come fast enough!!!!! I honestly couldn’t have done it without all the encouraging posts I’ve read over the past 5 years to other posters. (I’m more of a lurker). What’s weird is that I’ve left every job I’ve ever had but this time it was a bit scary. Can’t wait to see what happens next in my life. :)Yippee! Welcome to the rest of your life!
Post by: dblaace on September 10, 2021, 08:19:45 AM
Today is it for me! Woohoo!!!! Ending a 23 year career in banking and looking forward to the future! 5pm can’t come fast enough!!!!! I honestly couldn’t have done it without all the encouraging posts I’ve read over the past 5 years to other posters. (I’m more of a lurker). What’s weird is that I’ve left every job I’ve ever had but this time it was a bit scary. Can’t wait to see what happens next in my life. :)Congrats!
Post by: sisto on September 10, 2021, 04:53:20 PM
Today is it for me! Woohoo!!!! Ending a 23 year career in banking and looking forward to the future! 5pm can’t come fast enough!!!!! I honestly couldn’t have done it without all the encouraging posts I’ve read over the past 5 years to other posters. (I’m more of a lurker). What’s weird is that I’ve left every job I’ve ever had but this time it was a bit scary. Can’t wait to see what happens next in my life. :)Congratulations!!!
Post by: 4tify on September 11, 2021, 08:12:54 AM
Post by: Dreamer40 on September 11, 2021, 09:23:40 AM
Hello, Everyone,
I've been a long time lurker on the forum and have learned a lot from all of the discussions over the years. So, I finally decided to sign up for an account. I'm in the final months of wrapping up my government career on 31 December 2021. I'm really looking forward to starting a new chapter in my life!
Woo hoo! I’m also a (former) government employee. Congrats on wrapping stuff up! I hope your last months go smoothly. My exit process was a bit of a disaster but it’s so great to come out the other side.
And congrats to all the others retiring lately. It’s great to see those announcements keep trickling in. I love hearing how the decompression process goes and how people spend their newly freed-up time.
Post by: FireLane on September 12, 2021, 07:24:23 AM
Post by: XGE on September 12, 2021, 10:53:37 AM
I'm looking forward to being done with the government bureaucracy. I tell people that they don't call it Civil _Service_ for nothing. Many people feel that government workers are lazy, and while there are some that are (just as in society at large), I've been fortunate to work with a team of really good people that have put in a lot of extra hours over the years to get the mission done. They have to fight every day against the bureaucracy and "leadership" that work against them. After a while, you just get worn down. I'll miss the people, but I won't miss the job.
Post by: dougules on September 14, 2021, 06:21:14 PM
Post by: monarda on September 14, 2021, 07:47:34 PM
Post by: Arbitrage on September 15, 2021, 10:36:26 AM
Truthfully, my current job will be ending in 1-2 years due to program changes outside of my company's control, and a follow-on arrangement will be challenging. My thought was that a 1-2 year coast-FIRE arrangement should give us more than enough financial security to go full FI, but that's easy to say now with the (much smaller) paychecks still rolling in, with no health insurance headaches.
Those smaller paychecks still cover all of our living expenses, even though we've been spending up a storm, by our standards, in order to get us settled in our new lifestyle up here. I'll definitely need to make sure that all of these "one-time" expenses are indeed one-time, or at least very infrequent (things like kayaks, mountain bikes, ski gear, cold-weather gear to survive the winters, a bit of furniture for the new house...the list has seemed endless but I think it's finally slowing down). It's felt very non-mustachian; however, one of the big reasons we moved was to partake in all of these fabulous outdoor activities. At least I've mostly been buying used, where practical.
Ideally, we work this part-time schedule for another year, 18 months, and the job naturally goes the way of the dodo bird. My company then allows me to stay on a casual basis, just grabbing work here and there when I feel the hankering to scratch an itch, earning a few bucks, and our stash grows to a more comfortable 3% SWR or better level in the meantime. I'd definitely feel more comfortable there, given the unknowns of some potentially huge dental bills for my son and eventual college expenses.
However, I'm not quite ready to tell the boss that I want to quit part-time status just yet. Thus, I will continue to string them along for a bit...
Post by: dougules on September 15, 2021, 02:18:59 PM
Post by: Nutty on September 15, 2021, 02:26:22 PM
So apparently it's a big deal to quit on a Monday. So my date is now 15 October. Even better. Two less Mondays involving an alarm to wake up to.Why is it a big deal? You have interested me here. You get paid for one day for the week?
Congratulations getting to freedom 2 Mondays earlier.
Post by: dougules on September 15, 2021, 02:44:21 PM
So apparently it's a big deal to quit on a Monday. So my date is now 15 October. Even better. Two less Mondays involving an alarm to wake up to.Why is it a big deal? You have interested me here. You get paid for one day for the week?
Congratulations getting to freedom 2 Mondays earlier.
Apparently it makes the paperwork harder for the HR folks to have me on for just one day of a pay period. On some level I wish I'd asked more questions, but the honest truth is I'm beyond caring. If you want me to quit on a Friday, whatever.
Post by: Dicey on September 18, 2021, 01:27:05 PM
Hooray! You can afford to be gracious to the poor slobs who aren't getting to retire. You'll be fine.Apparently it makes the paperwork harder for the HR folks to have me on for just one day of a pay period. On some level I wish I'd asked more questions, but the honest truth is I'm beyond caring. If you want me to quit on a Friday, whatever.So apparently it's a big deal to quit on a Monday. So my date is now 15 October. Even better. Two less Mondays involving an alarm to wake up to.Why is it a big deal? You have interested me here. You get paid for one day for the week?
Congratulations getting to freedom 2 Mondays earlier.
Edited to fix wonky quotes.
Post by: asauer on September 21, 2021, 11:05:29 AM
Post by: dougules on September 21, 2021, 02:06:51 PM
Woohoo! I gave my notice today! It was anti-climactic because I had been trying to get ahold of my boss (CPO) for a week and she kept blowing me off. The CEO is out of the country and the VP of HR (my peer) was out on PTO until today. So I was actually having trouble finding someone to quit to 🤣. Finally got ahold of the VP of HR this morning. I can finally tell my team, wrap things up and start decompressing! Last day is 10/6!
I suppose you wouldn't have been able to quit if you hadn't been able to get ahold of anybody. Crisis averted. Congrats!
Post by: Malee55 on September 21, 2021, 03:24:26 PM
Woohoo! I gave my notice today! It was anti-climactic because I had been trying to get ahold of my boss (CPO) for a week and she kept blowing me off. The CEO is out of the country and the VP of HR (my peer) was out on PTO until today. So I was actually having trouble finding someone to quit to 🤣. Finally got ahold of the VP of HR this morning. I can finally tell my team, wrap things up and start decompressing! Last day is 10/6!
Ihad not realized resigning from a job was so difficult. Congratulations!
Post by: 2Birds1Stone on September 21, 2021, 03:25:42 PM
Might FIRE in a similar fashion.
Post by: asauer on September 21, 2021, 03:58:22 PM
Funny situation this reminded me of from a couple of years back. I had to travel suddenly due to a family health scare on another continent. When I tried to submit paperwork for the leave there was no response.....turns out my boss got shitcanned while I was gone and no one ever processed anything, 6 weeks later I returned to work without anyone realizing that I had left in the first place.
Might FIRE in a similar fashion.
Damn! I might have just taken some extra time…Haha.
Post by: asauer on September 21, 2021, 04:00:14 PM
Right?! This is their m.o. though. I think my boss has shown up for maybe 25% of our scheduled meetings so I’m not shocked.Woohoo! I gave my notice today! It was anti-climactic because I had been trying to get ahold of my boss (CPO) for a week and she kept blowing me off. The CEO is out of the country and the VP of HR (my peer) was out on PTO until today. So I was actually having trouble finding someone to quit to 🤣. Finally got ahold of the VP of HR this morning. I can finally tell my team, wrap things up and start decompressing! Last day is 10/6!
Ihad not realized resigning from a job was so difficult. Congratulations!
Post by: dblaace on September 22, 2021, 07:03:10 AM
Starting to get nervous about health care. :(
I have 6 appointments this left this year to make sure there are no major problems and I'm good for the next few years at least.
I'm generally healthy but some chronic diseases if you know what I mean.
Post by: boarder42 on September 22, 2021, 11:26:45 AM
Post by: dougules on September 22, 2021, 11:28:53 AM
i'm officially in the 2022 thread that i figured i'd end up in just b/c i have to be there jan 2 to get a full extra year of returns on the company stock.
You're dead to us.
Post by: sisto on September 22, 2021, 02:40:13 PM
Post by: Dicey on September 22, 2021, 02:53:27 PM
HaHaHa, DH is pondering something similar, only on a much smaller scale. He figures if he collects just one paycheck in 2022, we can qualify for one more year of Roth contributions. Dude, $14k isn't going to move the needle, but the lure of tax-free dollars is strong.i'm officially in the 2022 thread that i figured i'd end up in just b/c i have to be there jan 2 to get a full extra year of returns on the company stock.
You're dead to us.
You do you, b42; you'll never be dead to me.
Post by: Prairie Gal on September 23, 2021, 06:26:24 AM
I will probably look for a couple of small bookkeeping jobs to do from home, but they would need to be super flexible so that I am free to travel or whatever.
Post by: asauer on September 23, 2021, 06:52:44 AM
I gave my notice on Tuesday. I was hoping to make it to the end of the year and give notice early January 2022, but I just don't have it in me. I don't have a precise end date yet as I said I would work for two to four more weeks to make the transition smoother.
I will probably look for a couple of small bookkeeping jobs to do from home, but they would need to be super flexible so that I am free to travel or whatever.
Congratulations!
Post by: Malee55 on September 23, 2021, 03:30:11 PM
Post by: billy on September 24, 2021, 05:08:49 AM
https://www.timeanddate.com/countdown/launch?iso=20211008T1430&p0=%3A&msg=fire&font=hand
Post by: asauer on September 28, 2021, 07:56:41 AM
Post by: Nutty on September 28, 2021, 09:05:02 AM
Only 1 week of notice to go and it feels like forever. My narc boss has decided to try and make my life hell as punishment for leaving. It's not working as well as she would like but it much harder than I would like.How could they make it harder? What would they do, fire you? Make it too hard and I would leave immediately.
Thank you, may I have another with a severance package?
Post by: jeroly on September 28, 2021, 12:01:12 PM
He will need earned income equal to or greater than the Roth contribution, of course, so fingers crossed that that 'one paycheck in 2022' is more than his Roth limit!HaHaHa, DH is pondering something similar, only on a much smaller scale. He figures if he collects just one paycheck in 2022, we can qualify for one more year of Roth contributions. Dude, $14k isn't going to move the needle, but the lure of tax-free dollars is strong.i'm officially in the 2022 thread that i figured i'd end up in just b/c i have to be there jan 2 to get a full extra year of returns on the company stock.
You're dead to us.
You do you, b42; you'll never be dead to me.
Post by: Dicey on September 28, 2021, 02:21:24 PM
That's kind of my point. To allow us both to max out, it would probably take more than one check and that becomes a very slippery slope! Noooooooooo!He will need earned income equal to or greater than the Roth contribution, of course, so fingers crossed that that 'one paycheck in 2022' is more than his Roth limit!HaHaHa, DH is pondering something similar, only on a much smaller scale. He figures if he collects just one paycheck in 2022, we can qualify for one more year of Roth contributions. Dude, $14k isn't going to move the needle, but the lure of tax-free dollars is strong.i'm officially in the 2022 thread that i figured i'd end up in just b/c i have to be there jan 2 to get a full extra year of returns on the company stock.
You're dead to us.
You do you, b42; you'll never be dead to me.
Post by: nazar on September 28, 2021, 05:44:58 PM
Sent from my SM-G991U using Tapatalk
Post by: ospreyjp on September 28, 2021, 07:19:46 PM
All the best, y'all!
Post by: asauer on September 29, 2021, 05:43:56 AM
Yes! The day finally came and I retired from Fed job on the 27th of September. My send-off was very nice with thoughtful gifts and kind words. I am now looking forward to enjoying the beautiful mountains of North Carolina and spending unencumbered time with my family and friends.
All the best, ya'll!
Congratulations! I live in NC and we love going to the mountains. Our favorite area is the Brevard/Cashiers area. Enjoy!
Post by: asauer on September 29, 2021, 05:47:14 AM
I won't get my big PTO/ bonus payout if I leave immediately and I want both of those things. My boss is just guilt tripping, blocking my transfer of projects to people, constantly interrupting work on slack but not showing up to meetings, bad mouthing me to my internal stakeholders etc. It's just very annoying but it's only 6 more work days.Only 1 week of notice to go and it feels like forever. My narc boss has decided to try and make my life hell as punishment for leaving. It's not working as well as she would like but it much harder than I would like.How could they make it harder? What would they do, fire you? Make it too hard and I would leave immediately.
Thank you, may I have another with a severance package?
Post by: dblaace on September 29, 2021, 06:24:53 AM
Maybe you were exposed to covid and need to self quarantine for 6 days! :)I won't get my big PTO/ bonus payout if I leave immediately and I want both of those things. My boss is just guilt tripping, blocking my transfer of projects to people, constantly interrupting work on slack but not showing up to meetings, bad mouthing me to my internal stakeholders etc. It's just very annoying but it's only 6 more work days.Only 1 week of notice to go and it feels like forever. My narc boss has decided to try and make my life hell as punishment for leaving. It's not working as well as she would like but it much harder than I would like.How could they make it harder? What would they do, fire you? Make it too hard and I would leave immediately.
Thank you, may I have another with a severance package?
Post by: Jack0Life on September 30, 2021, 11:12:39 PM
It's almost been a month and she do not know why the time fly so fast.
I'm pretty much CoastFI. Down to ~25 hrs a week.
We have things planned out for the next year.
There's a Colorado trip this month. We have our big Tahiti trip end of Nov. Then it's winter season and we bought the Epic pass. We are planning to hit a whole lot of Ski resorts with the pass. This will bring us to end of April. Then we would like to go to Japan or Europe again.
By that time, if we want to continue we will get a camper van and drive around the US.
I'm 49 and our NW is around $1.3 million. I plan to make around $50k per year and with the our IRA contributions, it will bring our AGI to $37k which we will use ACA for insurance.
I just learn something new today in that we wanted to sell our rental but the capital gain will hit our AGI which negate our chance for ACA. Even though the long term capital gain won't hit us tax wise, it will go against the ACA. Gonna have to keep renting the house.
Negating our rental incomes with expenses and depreciation net us very little net income.
Post by: Need2Save on October 04, 2021, 06:28:54 AM
I really enjoy reading about other people's transitions so I figured others do as well. Here is an update on ours:
It's been just about three months in for me (Five months in for Mr.N2S) and we've settled into what I would describe as a nice leisurely routine. Most days one of us wakes up to deal with our doggie and the other sleeps in (a little) and then we sit around and enjoy our coffee, read the paper, take doggie for walk, etc. Then it's time for the days exercise whether it be hiking, biking, running, walking or whatever we have planned. Occasionally we'll hit a nearby lake and kayak there. Both of us have loss significant amount of needed weight since leaving work and exercising every day (also eating much better and cutting down carbs significantly). Then by the time we clean up and shower, etc. it's time to make lunch. The afternoons usually involve some time working on/learning about our new hobbies or interests, then we make dinner, walk the dog again, etc. In between we usually spend about a half hour a day on typical house/yard/garden upkeep type chores, and of course some time browsing the internet (planning upcoming trips perhaps) or taking a course online just for the heck of it. We have had the time to visit nearby family, help and support our two sons who are finishing up college soon, and generally be unstressed about time crunches or weighing work demands. We haven't done too much traveling yet together, but we have plans over the next six months with a few multi-week trips which we are very much looking forward to. We've each had a few small trips with other people/friends/family. We've tackled a few small house projects like repainting rooms and fixing a few minor things as well.
Overall, very productive so far and also unproductive as well, if that makes sense. I recently caught up with a dear friend from work that I have known for over ten years. He is experiencing very difficult health issues right now with multiple uncertain diagnosis and a serious immunocompromised situation. He's nearly died a couple times. It's just a huge reminder to enjoy every single day and be there for your dearest family and friends, because tomorrow is not promised.
Post by: friedmmj on October 04, 2021, 06:41:59 AM
My wife left her job finally on Sept 3 before she turned 38.
It's almost been a month and she do not know why the time fly so fast.
I'm pretty much CoastFI. Down to ~25 hrs a week.
We have things planned out for the next year.
There's a Colorado trip this month. We have our big Tahiti trip end of Nov. Then it's winter season and we bought the Epic pass. We are planning to hit a whole lot of Ski resorts with the pass. This will bring us to end of April. Then we would like to go to Japan or Europe again.
By that time, if we want to continue we will get a camper van and drive around the US.
I'm 49 and our NW is around $1.3 million. I plan to make around $50k per year and with the our IRA contributions, it will bring our AGI to $37k which we will use ACA for insurance.
I just learn something new today in that we wanted to sell our rental but the capital gain will hit our AGI which negate our chance for ACA. Even though the long term capital gain won't hit us tax wise, it will go against the ACA. Gonna have to keep renting the house.
Negating our rental incomes with expenses and depreciation net us very little net income.
Very cool! I also bought the Epic Pass this year for the first time although I'm not pulling the plug until end Feb. Which mountains are you planning to go to?
Post by: magus on October 04, 2021, 06:47:38 AM
My wife left her job finally on Sept 3 before she turned 38.
It's almost been a month and she do not know why the time fly so fast.
I'm pretty much CoastFI. Down to ~25 hrs a week.
We have things planned out for the next year.
There's a Colorado trip this month. We have our big Tahiti trip end of Nov. Then it's winter season and we bought the Epic pass. We are planning to hit a whole lot of Ski resorts with the pass. This will bring us to end of April. Then we would like to go to Japan or Europe again.
By that time, if we want to continue we will get a camper van and drive around the US.
I'm 49 and our NW is around $1.3 million. I plan to make around $50k per year and with the our IRA contributions, it will bring our AGI to $37k which we will use ACA for insurance.
I just learn something new today in that we wanted to sell our rental but the capital gain will hit our AGI which negate our chance for ACA. Even though the long term capital gain won't hit us tax wise, it will go against the ACA. Gonna have to keep renting the house.
Negating our rental incomes with expenses and depreciation net us very little net income.
Sounds like some fun trips! One thing to keep in mind if you've never sold a rental before - the LT Capital gains tax may not be much in taxes but the *depreciation recapture* can cause a huge tax bill if you've owned the property for a while ($200k over 27.5 years is $72k in depreciation recapture income after 10 years). You can 1031 your property into another RE investment if you want, though, to defer the taxes altogether.
Post by: billy on October 04, 2021, 06:49:40 AM
My wife left her job finally on Sept 3 before she turned 38.
It's almost been a month and she do not know why the time fly so fast.
I'm pretty much CoastFI. Down to ~25 hrs a week.
We have things planned out for the next year.
There's a Colorado trip this month. We have our big Tahiti trip end of Nov. Then it's winter season and we bought the Epic pass. We are planning to hit a whole lot of Ski resorts with the pass. This will bring us to end of April. Then we would like to go to Japan or Europe again.
By that time, if we want to continue we will get a camper van and drive around the US.
I'm 49 and our NW is around $1.3 million. I plan to make around $50k per year and with the our IRA contributions, it will bring our AGI to $37k which we will use ACA for insurance.
I just learn something new today in that we wanted to sell our rental but the capital gain will hit our AGI which negate our chance for ACA. Even though the long term capital gain won't hit us tax wise, it will go against the ACA. Gonna have to keep renting the house.
Negating our rental incomes with expenses and depreciation net us very little net income.
Good to know with sale of home effecting AGI for ACA, even though a good portion of capital gain is not taxed by the feds. I'm looking if my wife and I want to move in the future, but want to find something no income tax and with expanded medicaid to make it worth wild. So if I sell my house in the spring, move to another state, my capital our capital gain of say 150k will make me ineligible for ACA looks like.
Post by: asauer on October 06, 2021, 11:41:04 AM
1. This is the 1st time in 12 years that I won't have anything work related on my phone
2. First time since I was 14 that I won't be doing paid work
3. First time since I was 18 that I'm not working at least 40 hours/ week
It's exciting and scary!
Post by: dblaace on October 06, 2021, 11:45:59 AM
Well, I'm officially done! Last day was today, 10/6 for @ScreamingHeadGuy 's tally. I just deleted my work apps from my phone and realized a few things:Congrats!
1. This is the 1st time in 12 years that I won't have anything work related on my phone
2. First time since I was 14 that I won't be doing paid work
3. First time since I was 18 that I'm not working at least 40 hours/ week
It's exciting and scary!
Post by: Jack0Life on October 06, 2021, 01:28:23 PM
My wife left her job finally on Sept 3 before she turned 38.
It's almost been a month and she do not know why the time fly so fast.
I'm pretty much CoastFI. Down to ~25 hrs a week.
We have things planned out for the next year.
There's a Colorado trip this month. We have our big Tahiti trip end of Nov. Then it's winter season and we bought the Epic pass. We are planning to hit a whole lot of Ski resorts with the pass. This will bring us to end of April. Then we would like to go to Japan or Europe again.
By that time, if we want to continue we will get a camper van and drive around the US.
I'm 49 and our NW is around $1.3 million. I plan to make around $50k per year and with the our IRA contributions, it will bring our AGI to $37k which we will use ACA for insurance.
I just learn something new today in that we wanted to sell our rental but the capital gain will hit our AGI which negate our chance for ACA. Even though the long term capital gain won't hit us tax wise, it will go against the ACA. Gonna have to keep renting the house.
Negating our rental incomes with expenses and depreciation net us very little net income.
Good to know with sale of home effecting AGI for ACA, even though a good portion of capital gain is not taxed by the feds. I'm looking if my wife and I want to move in the future, but want to find something no income tax and with expanded medicaid to make it worth wild. So if I sell my house in the spring, move to another state, my capital our capital gain of say 150k will make me ineligible for ACA looks like.
If your home is your primary, it won't affect ACA.
Post by: Jack0Life on October 06, 2021, 01:34:55 PM
My wife left her job finally on Sept 3 before she turned 38.
It's almost been a month and she do not know why the time fly so fast.
I'm pretty much CoastFI. Down to ~25 hrs a week.
We have things planned out for the next year.
There's a Colorado trip this month. We have our big Tahiti trip end of Nov. Then it's winter season and we bought the Epic pass. We are planning to hit a whole lot of Ski resorts with the pass. This will bring us to end of April. Then we would like to go to Japan or Europe again.
By that time, if we want to continue we will get a camper van and drive around the US.
I'm 49 and our NW is around $1.3 million. I plan to make around $50k per year and with the our IRA contributions, it will bring our AGI to $37k which we will use ACA for insurance.
I just learn something new today in that we wanted to sell our rental but the capital gain will hit our AGI which negate our chance for ACA. Even though the long term capital gain won't hit us tax wise, it will go against the ACA. Gonna have to keep renting the house.
Negating our rental incomes with expenses and depreciation net us very little net income.
Sounds like some fun trips! One thing to keep in mind if you've never sold a rental before - the LT Capital gains tax may not be much in taxes but the *depreciation recapture* can cause a huge tax bill if you've owned the property for a while ($200k over 27.5 years is $72k in depreciation recapture income after 10 years). You can 1031 your property into another RE investment if you want, though, to defer the taxes altogether.
Our income won't ever be over $80k anymore so when ever we do sell our rental, the LT capital gani should be taxed $0.
My wife said long term, we will probably sell our primary which is bigger and more expensive and move back to the rental which we will save us money and make it a primary again.
Post by: Jack0Life on October 06, 2021, 01:43:00 PM
My wife left her job finally on Sept 3 before she turned 38.
It's almost been a month and she do not know why the time fly so fast.
I'm pretty much CoastFI. Down to ~25 hrs a week.
We have things planned out for the next year.
There's a Colorado trip this month. We have our big Tahiti trip end of Nov. Then it's winter season and we bought the Epic pass. We are planning to hit a whole lot of Ski resorts with the pass. This will bring us to end of April. Then we would like to go to Japan or Europe again.
By that time, if we want to continue we will get a camper van and drive around the US.
I'm 49 and our NW is around $1.3 million. I plan to make around $50k per year and with the our IRA contributions, it will bring our AGI to $37k which we will use ACA for insurance.
I just learn something new today in that we wanted to sell our rental but the capital gain will hit our AGI which negate our chance for ACA. Even though the long term capital gain won't hit us tax wise, it will go against the ACA. Gonna have to keep renting the house.
Negating our rental incomes with expenses and depreciation net us very little net income.
Very cool! I also bought the Epic Pass this year for the first time although I'm not pulling the plug until end Feb. Which mountains are you planning to go to?
We have a trip to Okemo/Mount Snow in Dec.
In Jan, we will take a 2 week trip to Northern Cali and do the Tahoe resorts.
My buddy has a house in Park City so we will go there 1/2 trip.
A extend trip to Colo is on the agenda. Been to Keystone many times but plan to hit the other resorts.
Plan to hit another big resort if time permit.
Best of all most of this will be "free" as i have tons of hotel and airline points.
Post by: Ladychips on October 06, 2021, 01:51:52 PM
Well, I'm officially done! Last day was today, 10/6 for @ScreamingHeadGuy 's tally. I just deleted my work apps from my phone and realized a few things:
1. This is the 1st time in 12 years that I won't have anything work related on my phone
2. First time since I was 14 that I won't be doing paid work
3. First time since I was 18 that I'm not working at least 40 hours/ week
It's exciting and scary!
It's wonderful! Congratulations!!!
Post by: billy on October 06, 2021, 06:05:06 PM
Well, I'm officially done! Last day was today, 10/6 for @ScreamingHeadGuy 's tally. I just deleted my work apps from my phone and realized a few things:
1. This is the 1st time in 12 years that I won't have anything work related on my phone
2. First time since I was 14 that I won't be doing paid work
3. First time since I was 18 that I'm not working at least 40 hours/ week
It's exciting and scary!
Hell ya....I'm right behind you, I have 1 more day :)
Post by: Malee55 on October 06, 2021, 06:42:55 PM
Well, I'm officially done! Last day was today, 10/6 for @ScreamingHeadGuy 's tally. I just deleted my work apps from my phone and realized a few things:
1. This is the 1st time in 12 years that I won't have anything work related on my phone
2. First time since I was 14 that I won't be doing paid work
3. First time since I was 18 that I'm not working at least 40 hours/ week
It's exciting and scary!
Hell ya....I'm right behind you, I have 1 more day :)
Wahoo for both of you. You are going to have a great weekend.
Post by: Dicey on October 07, 2021, 09:20:57 AM
FTFYWell, I'm officially done! Last day was today, 10/6 for @ScreamingHeadGuy 's tally. I just deleted my work apps from my phone and realized a few things:
1. This is the 1st time in 12 years that I won't have anything work related on my phone
2. First time since I was 14 that I won't be doing paid work
3. First time since I was 18 that I'm not working at least 40 hours/ week
It's exciting and scary!
Hell ya....I'm right behind you, I have 1 more day :)
Wahoo for both of you. You are going to have a greatweekendrest of your life.
Post by: asauer on October 08, 2021, 07:27:39 AM
Thank you!!FTFYWell, I'm officially done! Last day was today, 10/6 for @ScreamingHeadGuy 's tally. I just deleted my work apps from my phone and realized a few things:
1. This is the 1st time in 12 years that I won't have anything work related on my phone
2. First time since I was 14 that I won't be doing paid work
3. First time since I was 18 that I'm not working at least 40 hours/ week
It's exciting and scary!
Hell ya....I'm right behind you, I have 1 more day :)
Wahoo for both of you. You are going to have a greatweekendrest of your life.
Post by: 4tify on October 08, 2021, 08:50:36 AM
Well, I'm officially done! Last day was today, 10/6 for @ScreamingHeadGuy 's tally. I just deleted my work apps from my phone and realized a few things:
1. This is the 1st time in 12 years that I won't have anything work related on my phone
2. First time since I was 14 that I won't be doing paid work
3. First time since I was 18 that I'm not working at least 40 hours/ week
It's exciting and scary!
@asauer you beat me by 2 days, congrats!! I’m excited and scared too lol.
Today is my last day! No more mega Corp!! Thanks to everyone for the help & inspiration!
Post by: dougules on October 08, 2021, 09:18:11 AM
Well, I'm officially done! Last day was today, 10/6 for @ScreamingHeadGuy 's tally. I just deleted my work apps from my phone and realized a few things:
1. This is the 1st time in 12 years that I won't have anything work related on my phone
2. First time since I was 14 that I won't be doing paid work
3. First time since I was 18 that I'm not working at least 40 hours/ week
It's exciting and scary!
@asauer you beat me by 2 days, congrats!! I’m excited and scared too lol.
Today is my last day! No more mega Corp!! Thanks to everyone for the help & inspiration!
Congrats!! I'm only a week behind you.
Post by: climber1 on October 09, 2021, 09:35:20 AM
Haven't been active here vs. the financialindependence subreddit, but enjoying reading others post-FIRE stories here so thought I'd join in.
I FIREd in January and then spent the next 5 months on a huge road trip around the US. Was a great opportunity to explore, reset, and engage in various hobbies. This may be heresy here, but I actually ended up getting another job after that and have been there for 2 months now. I was looking for some kind of challenge after the leisure of the trip and an old manager of mine reached out with a job which is basically exactly the type of work I like to do. So I've been doing that and it has been fun. I don't expect to be there long as the approach I'm taking is show up, get high impact projects done and when I can be proud of a job well done, bounce. Maybe not the conventional FIRE, but its working for me.
Post by: 4tify on October 09, 2021, 01:50:57 PM
Well, I'm officially done! Last day was today, 10/6 for @ScreamingHeadGuy 's tally. I just deleted my work apps from my phone and realized a few things:
1. This is the 1st time in 12 years that I won't have anything work related on my phone
2. First time since I was 14 that I won't be doing paid work
3. First time since I was 18 that I'm not working at least 40 hours/ week
It's exciting and scary!
@asauer you beat me by 2 days, congrats!! I’m excited and scared too lol.
Today is my last day! No more mega Corp!! Thanks to everyone for the help & inspiration!
Congrats!! I'm only a week behind you.
Great! Let us know how it goes!
Post by: asauer on October 11, 2021, 05:36:03 AM
Well, I'm officially done! Last day was today, 10/6 for @ScreamingHeadGuy 's tally. I just deleted my work apps from my phone and realized a few things:Congratulations!
1. This is the 1st time in 12 years that I won't have anything work related on my phone
2. First time since I was 14 that I won't be doing paid work
3. First time since I was 18 that I'm not working at least 40 hours/ week
It's exciting and scary!
@asauer you beat me by 2 days, congrats!! I’m excited and scared too lol.
Today is my last day! No more mega Corp!! Thanks to everyone for the help & inspiration!
Post by: ScreamingHeadGuy on October 11, 2021, 10:36:23 AM
So far we have 113 folks here who will be FIRE in 2021, 5 are OMY (and are "dead to us"), 5 have gone OLY into the 2020 Cohort, and one has 2LY into 2019.
Average age of 2021ers is 45.45 (based on those 77 members who provided an age at FIRE date). 2020 average age was 48.32. 2019 average age was 47.38.
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Post by: ScreamingHeadGuy on October 11, 2021, 10:42:37 AM
Here is a shout-out to folks whose FIRE date has passed but from whom I haven't received a confirmation yet. @Matz_70 @fireflye @Buffaloski Boris @dreams_and_discoveries @TheContinentalOp @logjammin @bluebelle @gary3411 @WildJager @80Westy @EricEng @ItalianGirl @newstart103 @mld @SunniD @lukebowles @Norsky @icebox92 @force majeure @CarolinaGirl @frugalecon and @GBRS
Post by: anotherAlias on October 11, 2021, 11:56:14 AM
Post by: SmartyCat on October 11, 2021, 01:11:22 PM
Post by: billy on October 11, 2021, 02:25:00 PM
Post by: asauer on October 12, 2021, 08:34:45 AM
you can add me to the list I retired on October 7th at 39 years old.Congratulations!
Post by: billy on October 12, 2021, 09:02:41 AM
Post by: monarda on October 12, 2021, 09:20:55 AM
Not going to retire this year, but discussed today with the boss a move to working part-time, to 60% (3 days a week). Still gets full benefits! Probably going to switch over to that soon. Maybe next month, even?
Yup, going to part time Mid-November.
Post by: Trifle on October 12, 2021, 09:29:06 AM
(https://media3.giphy.com/media/3o7TKtsrxDum2MtDFu/200w.webp?cid=ecf05e47yact7vndlyo5d13vp60zo9uum71wkuuqmgrxj4uw&rid=200w.webp&ct=g)
Post by: Well Respected Man on October 14, 2021, 06:19:25 AM
I had a work dream this morning, where the project was always going wrong, and I dutifully trotted upstairs to tell the boss, and he was getting more and more frazzled. Suckers.
It may have something to do with my having to set an alarm for the first time in I don't know how long. I have an electrician starting a project today, and I should at least be awake and have pants on for that.
Other than that, I finally settled on an alternative to straight bond funds for part of our taxable money. I went with FSRRX, Fidelity Strategic Real Return. It seems like it provides some inflation protection, and is not as correlated with stocks. The house proceeds are now fully invested according to plan, and we have 3 years' expenses in short-term holdings, as well as a paid-off house.
Good to see some fellow skiers in here. I also have the Epic pass, and our house is only a few minutes away from one of the smaller mountains. I'm sure to eclipse my very paltry record for most days skied in a season. See you on the slopes!
Post by: crazy jane on October 14, 2021, 08:37:54 AM
Post by: dsw on October 15, 2021, 09:47:51 AM
I hope you're all doing well!
d
Post by: dougules on October 15, 2021, 09:52:14 AM
Hi everybody! It's been awhile since I checked in. I left my job in July and I haven't really been able to remember to update the forums since. So far everything is going great. Just as I hoped, a fairly conservative plan has me pretty serene about the market fluctuations. I've been traveling, volunteering, and just tooling around the house. I've had a very fortunate career, but I'm happy to be stepping away from it.
I hope you're all doing well!
d
That sounds so great. And the fact you've been out in the real world not on the forums isn't really a bad thing.
Post by: Dreamer40 on October 15, 2021, 10:01:17 AM
I’m also finally getting bit by the travel bug again. Thinking about doing a GAdventures trip in the spring perhaps. Perhaps sign up with some friends I don’t see anymore since moving cross-country last year. It’s always so fun to meet up with people in another country. “Fancy running into you here in Egypt!” Fingers crossed that a covid booster is approved soon for us J&J people.
Post by: HSBW on October 15, 2021, 01:34:15 PM
Post by: dougules on October 15, 2021, 03:24:26 PM
Post by: dougules on October 15, 2021, 03:25:38 PM
Can I join the cohort, at least for now? I just put in my notice to leave my job and stay home with our 1 year old son. Current plan is 6-12 months off and then we'll reassess. I'm hopeful that my staying home makes life better for everyone to the point that it becomes permanent. We are borderline FI now depending on the spending number (a matter to straighten out with my wife). Another 6-12 months of market gains, small bit of savings, and continued conversations may get her to the point where she's comfortable taking a step back too.
Of course you can. Welcome.
Post by: snowball on October 15, 2021, 04:49:10 PM
Post by: nazar on October 15, 2021, 04:49:20 PM
Sent from my SM-G991U using Tapatalk
Post by: Malee55 on October 15, 2021, 05:01:29 PM
Post by: Ladychips on October 15, 2021, 05:35:50 PM
@snowball - It tastes good!!
@HSBW - welcome to the cohort. You are gonna love it.
I've been retired 3.5 months. I have no idea if I am decompressing or not. I walked out and never looked back. I still have a number of people in my personal life who work or worked there so I hear quite a bit about what's happening, but it's almost like a tv show that I watch. I'm kinda interested in a drama/fiction kind of way but it doesn't mean anything in my REAL life.
Retirement is the greatest thing ever. I am 1000% more laid back (my best friend who is still working is somewhat upset with me because I am no longer predictable. I've always operated on a schedule/clock/plan. Now, I'm okay with changing plans at the last minute; I'm ok with not knowing all the details...it's shocking to her! Feels good to me and I'm a little bit sad I wasn't like this my whole life.
The only thing I struggle with a little bit is answering the 'what are you doing' question. Man, people have alot of EXPECTATIONS. And I'm like 'oh, most days I do a little yoga, try to put my hands in the dirt regularly, spending alot of time with my parents, brother, nephews and their new wives, napping, reading, sitting on my porch, talking to my friends, you know...living. Whatever seems most attractive on any given day.' For most people, that doesn't seem to be enough. I realize that is their issue, not mine. I just want people to know how awesome it is! I'm mentally chewing on that to see if I need a better response or need to just let go of other people's stuff.
I've been so happy watching this cohort kicking it. So looking forward to the rest of the group joining us!
Post by: texxan1 on October 15, 2021, 05:45:18 PM
to add insult to my wonderful ex employer, they offered me my job back with 7 figures lol... and i said NOPE.... since FIRE ive added 5 more locations to my Twice the Ice machines and have 2 more coming online soon.... im just the arranger, i have a contract employee who does all the work..... i hade one HECK of a deal buying super super super cheap for a man who wanted out of the business.. . that deal added 75k a year cash flow this year and 125k cash flow for next year...... Nice
since the world is opening back up, the bride to be and i are headed to thailand for 6 months come january...... Happy FIRE FOLKS
Post by: dougules on October 18, 2021, 07:43:21 PM
since the world is opening back up, the bride to be and i are headed to thailand for 6 months come january...... Happy FIRE FOLKS
I'll be right behind you whenever COVID calms down. Bangkok has been my plan for my FIRE kickoff trip for a while now.
Post by: Aethonan on October 20, 2021, 01:30:26 PM
I'm still doing some part-time fun (paid) stuff, but I've also ramped up a once-abandoned (and expensive) hobby... so am just putting some of the extra fun money towards the fun activities :) Enjoying the mix of it for now.
Cheers all around!
Post by: Blissful Biker on October 20, 2021, 01:33:57 PM
We were tracking towards 2023 but a recent financial influx pushed us over "the number". I've given my notice and will be done by the end of the year, with potentially a wee bit of training my successor trickling into early 2022.
Please add me to the list to FIRE on 31/12/2021 at age 49.
Exciting but unsettling too. Who am I without my fancy title? Thankfully I'll have lots of time on my bike and skis to ponder.
Post by: NoVa on October 20, 2021, 09:39:53 PM
Post by: HSBW on October 21, 2021, 10:45:24 AM
Can I join the cohort, at least for now? I just put in my notice to leave my job and stay home with our 1 year old son. Current plan is 6-12 months off and then we'll reassess. I'm hopeful that my staying home makes life better for everyone to the point that it becomes permanent. We are borderline FI now depending on the spending number (a matter to straighten out with my wife). Another 6-12 months of market gains, small bit of savings, and continued conversations may get her to the point where she's comfortable taking a step back too.
Of course you can. Welcome.
Thanks @dougules and congrats on your exit!
Post by: HSBW on October 21, 2021, 10:50:03 AM
@nazar and @dougules - welcome to the party!!
@snowball - It tastes good!!
@HSBW - welcome to the cohort. You are gonna love it.
I've been retired 3.5 months. I have no idea if I am decompressing or not. I walked out and never looked back. I still have a number of people in my personal life who work or worked there so I hear quite a bit about what's happening, but it's almost like a tv show that I watch. I'm kinda interested in a drama/fiction kind of way but it doesn't mean anything in my REAL life.
Retirement is the greatest thing ever. I am 1000% more laid back (my best friend who is still working is somewhat upset with me because I am no longer predictable. I've always operated on a schedule/clock/plan. Now, I'm okay with changing plans at the last minute; I'm ok with not knowing all the details...it's shocking to her! Feels good to me and I'm a little bit sad I wasn't like this my whole life.
The only thing I struggle with a little bit is answering the 'what are you doing' question. Man, people have alot of EXPECTATIONS. And I'm like 'oh, most days I do a little yoga, try to put my hands in the dirt regularly, spending alot of time with my parents, brother, nephews and their new wives, napping, reading, sitting on my porch, talking to my friends, you know...living. Whatever seems most attractive on any given day.' For most people, that doesn't seem to be enough. I realize that is their issue, not mine. I just want people to know how awesome it is! I'm mentally chewing on that to see if I need a better response or need to just let go of other people's stuff.
I've been so happy watching this cohort kicking it. So looking forward to the rest of the group joining us!
Thanks @Ladychips ! I definitely feel you on the expectations piece. I'm hoping that the stay at home dad part makes that less of an issue for me. The real difficulty will be when my wife eventually quits too. It seems like a failure of imagination in the general populace about the possibilities of leaving work earlier than conventional age. Talking with family is often a reminder of the fact that this is a small minority niche community. To add my age to the list, I'm 33 and out at the end of October.
Post by: asauer on October 26, 2021, 01:39:57 PM
I'M DONE!
Woohoo!! Enjoy! I look forward to hearing your decompression journey in the journals.
Post by: asauer on October 26, 2021, 01:52:15 PM
@nazar and @dougules - welcome to the party!!
@snowball - It tastes good!!
@HSBW - welcome to the cohort. You are gonna love it.
I've been retired 3.5 months. I have no idea if I am decompressing or not. I walked out and never looked back. I still have a number of people in my personal life who work or worked there so I hear quite a bit about what's happening, but it's almost like a tv show that I watch. I'm kinda interested in a drama/fiction kind of way but it doesn't mean anything in my REAL life.
Retirement is the greatest thing ever. I am 1000% more laid back (my best friend who is still working is somewhat upset with me because I am no longer predictable. I've always operated on a schedule/clock/plan. Now, I'm okay with changing plans at the last minute; I'm ok with not knowing all the details...it's shocking to her! Feels good to me and I'm a little bit sad I wasn't like this my whole life.
The only thing I struggle with a little bit is answering the 'what are you doing' question. Man, people have alot of EXPECTATIONS. And I'm like 'oh, most days I do a little yoga, try to put my hands in the dirt regularly, spending alot of time with my parents, brother, nephews and their new wives, napping, reading, sitting on my porch, talking to my friends, you know...living. Whatever seems most attractive on any given day.' For most people, that doesn't seem to be enough. I realize that is their issue, not mine. I just want people to know how awesome it is! I'm mentally chewing on that to see if I need a better response or need to just let go of other people's stuff.
I've been so happy watching this cohort kicking it. So looking forward to the rest of the group joining us!
Yes! I'm shocked at how many people expect me to be doing something big. I might eventually but not right now.
Post by: dougules on October 27, 2021, 01:23:11 AM
Post by: WYOGO on October 27, 2021, 07:09:57 PM
Post by: sisto on October 27, 2021, 07:30:25 PM
Tomorrow, I am officially informing my boss of my departure, during my performance planning review for the next year. I am one that was part of the 2020 cohort holdover, delayed due to COViD, and uncertainty surrounding the ACA and such. Two weeks left…feels kind of surreal. Feel super lucky to have a optimal distribution of funds among the various “buckets” and am excited to finally embark on this new chapter.Congratulations!
Post by: Ladychips on October 27, 2021, 08:18:41 PM
Post by: Chaplin on October 28, 2021, 11:41:13 AM
Sign me up for the 2021 Cohort!
We were tracking towards 2023 but a recent financial influx pushed us over "the number". I've given my notice and will be done by the end of the year, with potentially a wee bit of training my successor trickling into early 2022.
Please add me to the list to FIRE on 31/12/2021 at age 49.
Exciting but unsettling too. Who am I without my fancy title? Thankfully I'll have lots of time on my bike and skis to ponder.
Awesome! 'Can't wait to hear how it plays out!
Post by: Dicey on October 28, 2021, 12:11:29 PM
Post by: WYOGO on October 28, 2021, 03:48:32 PM
@WYOGO - your timing seems impeccable!!
It was a great way to end a miserable meeting that does not address any of my needs or resolve the growing corporate dysfunction. Shortly after it began, I said …”full transparency, frankly I won’t be here to drive or achieve those metrics and other areas of my life are now the focus of my “development”.
That ended it in short order cordially with me committing to aid the transition and support during these next and final two weeks.
Post by: Ladychips on October 28, 2021, 07:02:49 PM
@WYOGO - your timing seems impeccable!!
It was a great way to end a miserable meeting that does not address any of my needs or resolve the growing corporate dysfunction. Shortly after it began, I said …”full transparency, frankly I won’t be here to drive or achieve those metrics and other areas of my life are now the focus of my “development”.
That ended it in short order cordially with me committing to aid the transition and support during these next and final two weeks.
Great report. Thanks for sharing!
Post by: stealthwealth on November 01, 2021, 10:36:20 AM
Post by: big_owl on November 01, 2021, 10:43:57 AM
Post by: SmartyCat on November 02, 2021, 03:53:17 PM
Post by: dividendman on November 03, 2021, 09:39:14 AM
Gave notice yesterday! My last workday will be 12/17/2021.
It's interesting to me that you chose the end of the year instead of the beginning of the next, what's the reason for this?
Typically it's better to chose the beginning of the next year so you can get 401k/HSA/etc filled a bit + company matches. Many companies also pay out bonuses at the start of the year.
Post by: SmartyCat on November 03, 2021, 11:55:13 AM
Gave notice yesterday! My last workday will be 12/17/2021.
It's interesting to me that you chose the end of the year instead of the beginning of the next, what's the reason for this?
Typically it's better to chose the beginning of the next year so you can get 401k/HSA/etc filled a bit + company matches. Many companies also pay out bonuses at the start of the year.
Hi @dividendman - you may not find my answer very satisfying, because I'm also leaving three paid holidays (Christmas Eve, Christmas Day, and New Year's Eve) on the table by exiting in mid-December, which has my boss politely horrified.
For the math part: my company 401k match happens throughout the year rather than in January, so at most I'm leaving 0.2% of my salary behind rather than 5% for the 401k match. I'm continuing my HDHP through COBRA, and my employer doesn't fund or match HSAs, so no loss there - I can continue to fund it on my own. My position is straight salary; no bonus impact tied to when I leave.
The non-math part: Burnout. Holidays with my family without the shadow of year-end mayhem from people trying to get their projects from 2% to 100% in the last days of the year. Also, I promised myself I wouldn't be working on my 60th birthday, and I'm excited to be keeping that promise.
Post by: dblaace on November 03, 2021, 12:05:43 PM
Post by: LetsRetireYoung on November 03, 2021, 02:55:24 PM
I was an Amazombie for 11.5 years, moved a lot for work (6 cities in 10 years!), then transferred from Seattle to Toronto because a) politics and b) better healthcare and c) mildly better for global warming, then became a permanent resident 2 years later, and then finally quit. :) It helped that I very carefully increased my stock portfolio by 197% between May 2020-May 2021 hahaha.
I moved to the beautiful Quebec City 2 months ago, and I'm loving it here... It's very lean-FIRE friendly: a 1-bedroom apartment in a nice part of town (with all the utilities + fast Internet included) is only $470 USD a month. O_o My combined monthly expenses are about $1,100 USD at this point, and I'm loving this new adventure and an opportunity to learn Quebec French through this full immersion. I declared lean-FIRE in mid-May, and I highly doubt I'll ever go back. :^D
Post by: billy on November 03, 2021, 03:03:13 PM
Post by: Ladychips on November 03, 2021, 08:17:34 PM
Post by: LetsRetireYoung on November 03, 2021, 11:34:20 PM
Ya, it's great reading that other like minded people fired this year as well. I wouldn't think rent would be that cheap in Quebec.It's the only province in Canada that has rent control, so yup, dirt-cheap rent. :) You won't find a better (or even matching) deal anywhere else in Canada, and if you google Quebec City's pictures, you'll see that it's beautiful as well. The main downside is that the sales tax is 15% but meh, trade-offs, am I right? :P
Post by: jeroly on November 04, 2021, 08:04:27 AM
Ya, it's great reading that other like minded people fired this year as well. I wouldn't think rent would be that cheap in Quebec.It's the only province in Canada that has rent control, so yup, dirt-cheap rent. :) You won't find a better (or even matching) deal anywhere else in Canada, and if you google Quebec City's pictures, you'll see that it's beautiful as well. The main downside is that the sales tax is 15% but meh, trade-offs, am I right? :P
Maybe that’s the main trade-off for you, but only if you’re a low income polar bear.
After suffering through two Quebec winters, I figured out a way to hightail it to California. (I live in DC now and the winters here are too cold as well, but at least we don’t have days where you don’t know whether people are talking about Fahrenheit or Celsius temperatures [they’re the same at -40 degrees]).
Gary Carter, the former Montreal Expo, had a great quote connected to Quebec weather… “I hit .333 one summer in Montreal…I went 2 for 6.”
Post by: LetsRetireYoung on November 04, 2021, 09:13:46 AM
Maybe that’s the main trade-off for you, but only if you’re a low income polar bear.
After suffering through two Quebec winters, I figured out a way to hightail it to California. (I live in DC now and the winters here are too cold as well, but at least we don’t have days where you don’t know whether people are talking about Fahrenheit or Celsius temperatures [they’re the same at -40 degrees]).
Gary Carter, the former Montreal Expo, had a great quote connected to Quebec weather… “I hit .333 one summer in Montreal…I went 2 for 6.”
LOL! You see, I have this grandiose and awesome strategy. ;) Now that I'm a Canadian permanent resident, I have to wait just another 1.5 years (April 2023) till I can apply for citizenship. Once I have that nailed, I'll become a snowbird and spend only 6 months in Quebec (the warm months haha), with the other 6 spent in fun cheap tropical countries. :)
The objective has always been to find a nice and cheap base of operations, and Quebec City definitely fits the bill. Having to spend 2 winters here... Well, that's just the price of admission. ¯\_(ツ)_/¯ These may very well be the very last cold winters I'll ever experience, so I'm psyching myself up as if they were some exotic rare nature phenomenon. Besides, I'm originally from Siberia, so I'm not a stranger to -40 weather. O_o
Post by: snowball on November 04, 2021, 11:44:05 AM
Today was my last day. Said lots of fond goodbyes, finished up some work stuff, went out with people after work for a final get-together. My residency permit is officially cancelled, and I fly out of the country in almost exactly 48 hours from now.
Part of me is really excited and happy, but it also kind of...feels like I'm just heading into a regular weekend. But it's not. :) Maybe this will sink in more next week.
Next stop: Tbilisi! I'm so looking forward to visiting Georgia again (Georgia the country, not the U.S. state). And to just...having time and space in my life, as much of it as I want, for whatever thoughts or endeavours I want to fill it with. When I think about that, I can't help but smile.
@LetsRetireYoung: Quebec City is an interesting option I've considered (I'm Canadian). But I've had some doubts about living there as an anglophone and being able to build connections with people, even if I take the opportunity to improve my Quebecois French. How are you finding it socially?
Post by: 2Birds1Stone on November 04, 2021, 12:07:05 PM
How did you choose Georgia?
Post by: snowball on November 04, 2021, 12:20:48 PM
Congrats, @snowball !!!
How did you choose Georgia?
Oh, a bunch of reasons. It's fairly close to where I am at the moment, as the airplane flies, so it's an easy trip. Cost of living is low and the food is good. There's a thriving English-speaking expat / digital nomad community there. I don't have to quarantine on arrival or get a PCR test because I am fully vaccinated. I can legally stay for up to 365 days and that clock will reset if I just leave the country and re-enter. I don't think I am actually going to stay that long, but it's cool to know that if I decided to stay long-term, I can, pretty easily. If I do stay longer, I'd legally be a tax resident of Georgia after living there for 6 months in a 12 month period, and they have a 0% or 1% income tax deal for small entrepreneurs, which could potentially be something to pursue.
The mountains are pretty. :) I've signed up for a group hiking day-trip out to Juta Valley on Sunday, which I'm quite looking forward to. I expect gorgeous scenery (https://www.google.com/search?q=Juta+Valley&tbm=isch&sxsrf=AOaemvJUunRe4ppjfJQfJFlT2E2uYp7t3A%3A1636049701655&source=hp&biw=1222&bih=580&ei=JSOEYYeoJeXemAWPuqbwDg&iflsig=ALs-wAMAAAAAYYQxNYduA3cXUUXHqMb9-2GfcrH85ozU&oq=Juta+Valley&gs_lcp=CgNpbWcQAzIFCAAQgAQyBQgAEIAEMgUIABCABDIGCAAQBRAeMgQIABAYMgQIABAYUABYAGD4AmgAcAB4AIAB0AGIAdABkgEDMi0xmAEAoAECoAEBqgELZ3dzLXdpei1pbWc&sclient=img&ved=0ahUKEwjHzrKKqP_zAhVlL6YKHQ-dCe4Q4dUDCAU&uact=5).
Post by: Morning Glory on November 04, 2021, 12:23:58 PM
Post by: LetsRetireYoung on November 04, 2021, 12:40:06 PM
Quebec City is an interesting option I've considered (I'm Canadian). But I've had some doubts about living there as an anglophone and being able to build connections with people, even if I take the opportunity to improve my Quebecois French. How are you finding it socially?Congrats on your FIRE!!! :)
Despite the official stats, I've found that a lot of locals speak either some or fluent English. (My awesome Quebecois girlfriend is extremely fluent - I met her at a hobby meetup.) There's a large Facebook group (https://www.facebook.com/groups/9344404743) for Anglos in QC - it's got 4,000 members who all share advice and expertise. Some things are still closed out of covid concerns, but I think there'll be a lot more Anglo meetups, etc in the future.
Anecdotally, I've been here since September 1, and my French is already a whole lot better. (I'd taken just a few DuoLingo courses before moving - basic grammar, etc.) I still can't understand most of what people say when they talk to each other, but I get the gist of stuff that's written in French. I imagine I'll get a lot more fluent within a year haha
Post by: snowball on November 04, 2021, 01:12:19 PM
Quebec City is an interesting option I've considered (I'm Canadian). But I've had some doubts about living there as an anglophone and being able to build connections with people, even if I take the opportunity to improve my Quebecois French. How are you finding it socially?Congrats on your FIRE!!! :)
Despite the official stats, I've found that a lot of locals speak either some or fluent English. (My awesome Quebecois girlfriend is extremely fluent - I met her at a hobby meetup.) There's a large Facebook group (https://www.facebook.com/groups/9344404743) for Anglos in QC - it's got 4,000 members who all share advice and expertise. Some things are still closed out of covid concerns, but I think there'll be a lot more Anglo meetups, etc in the future.
Anecdotally, I've been here since September 1, and my French is already a whole lot better. (I'd taken just a few DuoLingo courses before moving - basic grammar, etc.) I still can't understand most of what people say when they talk to each other, but I get the gist of stuff that's written in French. I imagine I'll get a lot more fluent within a year haha
It does seem like an excellent way to improve your French. At least your Quebecois French. :) The French I was taught in school was France French, and when I went to Paris a few years ago I was shocked at how much I actually understood people - it was so, so much easier for me than when I have visited Quebec. But I imagine spending more time in Quebec would help tremendously with that.
That is cool about the Facebook group. I may have to give Quebec City more thought! I have never been there, but it's been on my list of places I'd really like to visit. Along with the Maritimes, which I've also never been to...I need to get out to eastern Canada and do the rounds at some point. I'm originally from the West Coast, and BC/Alberta have always been my center of gravity in Canada. But if and when I repatriate, I don't really want to move back there, with the way things are going with wildfire smoke in the summers (plus, of course, Vancouver is ridiculously expensive).
Post by: LetsRetireYoung on November 04, 2021, 02:55:30 PM
Alright, wrapping up this discussion to keep the thread tidy for all the other new FIRE people haha.
Post by: BlueMR2 on November 04, 2021, 05:14:16 PM
Alright, wrapping up this discussion to keep the thread tidy for all the other new FIRE people haha.
Might be me soon, but remains to be seen.
My original plan was mid 2020, but I just couldn't keep myself from working (and investing) during that down time. It was too good to pass up. Then got busy with all kinds of projects and stuff. Finally coming out of that now and wondering where the time went. Lining up dropping some of my extra silly expenses (including one of the cars) and am looking at end of this year or maybe right at the beginning of 2022 if I don't quite retire by 12/31... So, I may have to hop cohorts again. :)
In reality, it's likely to included Summer part time employment for me too. I've got lots to do at home, but getting out sometimes is nice as well. Although, getting out in the Winter is less desirable. I don't mind the cold and snow, I just absolutely hate how the local government coats everything with salt trying to make it look like Summer in the Winter! Nasty destructive stuff, hate getting it on anything I own...
So, might be one of you, might not. We shall see...
Post by: effigy98 on November 04, 2021, 06:45:38 PM
Hit FI last year a little early. I just want to spend like a drunken sailor or typical American before I retire so going to one more year it at least. Have 4 vacations, Tesla, land, etc buying this year with income because it's an endless firehose at this point. On top of that company gave me a massive retention bonus that vests 4 years lol. Guess it's working. I think I just need to find a balance between work and home. It feels great though to not care about promos anymore and just coast. The livingfi post and being trapped in my house this year changed my perspective a bit. Plus I can work remote now which is nicer. I find I can say no a lot more at work and not stress as much because I really don't care if they let me go and give me that sweet severence. What is crazy is this new found confidence is actually helping my career. All I needed to do is not care and this work life may have not been so aweful.
Not sure what I'm going to do now. Portfolio has doubled since this last message (WTF???). Shit is insane. This new confidence at work had the effect of getting me some INSANE golden handcuff bonuses twice this year on top of the previous ones. It is hard to want to retire when I look at the these bonuses (which vest over a few years) of being more then I was making in total just a few years back. I am probably having more fun at work then I ever had. So strange. I never in a million years anticipated this happening.
Post by: Prairie Gal on November 04, 2021, 08:49:36 PM
Congrats to all of my fellow classmates of 2021.
Post by: dougules on November 04, 2021, 09:34:49 PM
@Prairie Gal, I don't think I congratulated you yet, so congrats to you too!
So, might be one of you, might not. We shall see...
Feel free to join us if you decide freedom is more fun than work.
Not sure what I'm going to do now. Portfolio has doubled since this last message (WTF???). Shit is insane. This new confidence at work had the effect of getting me some INSANE golden handcuff bonuses twice this year on top of the previous ones. It is hard to want to retire when I look at the these bonuses (which vest over a few years) of being more then I was making in total just a few years back. I am probably having more fun at work then I ever had. So strange. I never in a million years anticipated this happening.
It was odd how work was way better for the last 2 months after we decided I was going to quit. I think some of that was Stockholm syndrome, though. You might make sure it isn't for you too.
Post by: ScreamingHeadGuy on November 04, 2021, 09:40:34 PM
So far we have 113 folks here who will be FIRE in 2021, 5 are OMY (and are "dead to us"), 5 have gone OLY into the 2020 Cohort, and one has 2LY into 2019.
Average age of 2021ers is 45.58 (based on those 81 members who provided an age at FIRE date). 2020 average age was 48.32. 2019 average age was 47.38.
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Post by: ScreamingHeadGuy on November 04, 2021, 09:56:21 PM
Congratulations are in order to @dougules @nazar @snowball @Prairie Gal and @LetsRetireYoung.
As we move into November and December I expect we'll have more end-of-year FIRE-ees joining the cohort; it always seems to sneak up on some folks and they suddenly are inspired to hop the last train out of work-town.
Market returns have been very kind to me (even though "the top is in") and my WR is now less than 2.5% - that is freaking unbelievable. I am looking forward to the end of year and realizing some sweet, tax-free long-term capital gains.
Life is full of opportunities. As many others have said "Being retired is so busy." I keep finding myself getting involved in volunteer activities, which really cuts into my "unstructured time" (reading, napping, and playing computer games).
ACA sign up was smooth as ever. I've selected a Bronze plan for myself since I'll take the "risk" of up to $7,050 out-of-pocket expenses for the guaranty of paying $730 less in premiums to continue with my current, too-good-to-be-true Silver plan. (Wife gets insurance through her full-time "volunteer job". Daughter will be on state CHIP plan in '22.)
I hope everyone has a safe, healthy, and amazing end of year.
Post by: dougules on November 05, 2021, 01:39:09 AM
Post by: Malee55 on November 05, 2021, 02:25:43 AM
I have finally felt settled enough to do some casual work. I have enjoyed it without the stressful feeling I had when I was working a permanent job. I'm not planning on doing frequent shifts, but it keeps me meeting people and I can get back to enjoying nursing because I no longer feel burnt out.
Post by: LetsRetireYoung on November 05, 2021, 07:58:31 AM
The roster is updated for everybody through post #1526.
So far we have 113 folks here who will be FIRE in 2021, 5 are OMY (and are "dead to us"), 5 have gone OLY into the 2020 Cohort, and one has 2LY into 2019.
Average age of 2021ers is 45.58 (based on those 81 members who provided an age at FIRE date). 2020 average age was 48.32. 2019 average age was 47.38.
Oh wow, there's an actual roster! :) In that case, I should mention I was 34 when I retired. Not bad for someone who never even came close to earning 6 figures, eh? ;)
Post by: LightTripper on November 05, 2021, 08:10:18 AM
The roster is updated for everybody through post #1526.
So far we have 113 folks here who will be FIRE in 2021, 5 are OMY (and are "dead to us")....
Harsh! :D :D
Seriously though, congratulations to everyone who made or is making it out this year - see you on the other side!!
Post by: monarda on November 05, 2021, 09:26:20 AM
Not going to retire this year, but discussed today with the boss a move to working part-time, to 60% (3 days a week). Still gets full benefits! Probably going to switch over to that soon. Maybe next month, even?
Yup, going to part time Mid-November.
Officially going to 60% of full time on 11/15.
So, on the way to FIRE, but not. Probably will continue working for a couple of years like that. We'll see.
Am I dead to you, then?
Congrats to all the 2021 cohort embarking on new FIRE adventures!
Post by: Prairie Gal on November 05, 2021, 03:13:51 PM
Wow, Prairie Gal has another 18 millennia to go. That sounds pretty rough :)
Dang! Just when I thought I was done.
Post by: Rubyvroom on November 06, 2021, 09:31:57 AM
The past 3 months of "just serve as an interim resource after this person quit but also continue to do your dedicated work on a major ERP integration" has taken its toll. I've done 2 FTEs of work since July, and when they finally decided to hire for the open "interim" role (after four months of sitting on their hands), they realized they needed not one but THREE FTE to take its place. My past month and next month's calendar is literally double and triple booked most of the day, which is apparently accepted as the new norm, as colleagues use their evenings to watch Teams videos of meetings they had to miss. I'm over it.
Had to weigh the pros and cons of pulling the plug early. Portfolio is at $850K vs a $1M target (-). We don't have a mortgage (+). We only have about ~2.5 years of Roth conversion runway (-). We're highly employable (+). Hubby asked me, what if you just asked for more money? What amount of money would get you to stay for another 6 months? Hearing him say the words "SIX MONTHS" must have put lasers in my eyes because he was like ope, no you're done, let's do it.
I've quit jobs before where I questioned if leaving was a good choice for months afterwards. The calm however after making this decision - indescribable. No doubt in my mind that it's the right choice.
So put me down for Dec 17th @ 40 y/o please. Huzzah!
Post by: asauer on November 06, 2021, 09:39:46 AM
Just put in a six week notice on Friday, to finish up on December 17th. I'm an OMY from the 2020 cohort. I wasn't sure I'd even make it to FIRE in 2021 but work has been... let's say, convincing.
The past 3 months of "just serve as an interim resource after this person quit but also continue to do your dedicated work on a major ERP integration" has taken its toll. I've done 2 FTEs of work since July, and when they finally decided to hire for the open "interim" role (after four months of sitting on their hands), they realized they needed not one but THREE FTE to take its place. My past month and next month's calendar is literally double and triple booked most of the day, which is apparently accepted as the new norm, as colleagues use their evenings to watch Teams videos of meetings they had to miss. I'm over it.
Had to weigh the pros and cons of pulling the plug early. Portfolio is at $850K vs a $1M target (-). We don't have a mortgage (+). We only have about ~2.5 years of Roth conversion runway (-). We're highly employable (+). Hubby asked me, what if you just asked for more money? What amount of money would get you to stay for another 6 months? Hearing him say the words "SIX MONTHS" must have put lasers in my eyes because he was like ope, no you're done, let's do it.
I've quit jobs before where I questioned if leaving was a good choice for months afterwards. The calm however after making this decision - indescribable. No doubt in my mind that it's the right choice.
So put me down for Dec 17th @ 40 y/o please. Huzzah!
Congratulations! That peace is golden!
Post by: snowball on November 09, 2021, 09:31:44 AM
@snowball, congrats! Maybe you could start a journal to show us a little bit of Georgia, Quebec, and wherever else you end up?
Hmm, that could be fun. Apparently I have the time for such things as journaling now, lol.
https://forum.mrmoneymustache.com/journals/wandering-the-world-and-slowing-down-my-life-tbilisi-edition/
Post by: HSBW on November 09, 2021, 01:42:04 PM
The roster is updated for everybody through post #1526.
Didn’t see myself on there, apologies if I’m just missing it. Please put me down for 10/29/21, age 33!
Post by: SpeedReader on November 09, 2021, 10:21:02 PM
Post by: Canuck042 on November 10, 2021, 05:14:17 PM
First Post! Nov 5th 2021 will be my last day, age 45. Management knows, and key staff, but the rest of my coworkers won't be told until my replacements are decided: probably at 60 days out.
...my last day at work was last Friday, so now I'm officially FIREd! Time to see if what the spreadsheets told me is true... or if I've made a very expensive mistake...
Post by: fireflye on November 10, 2021, 11:36:17 PM
Congratulations to everybody who's FIRE'd since my last posting. I am so happy for all of you.
Here is a shout-out to folks whose FIRE date has passed but from whom I haven't received a confirmation yet.
I'm always behind on my online presence, haha. Yes, confirmed out as of 4/1. Now seven months. I framed it as taking some time away from work, but it turns out I have zero desire to head back.
Post by: Fru-Gal on November 16, 2021, 07:17:52 PM
Not gonna tell my mom any time soon (she's good with money but very negative about things in general), but in my last conversation on this topic with her I vaguely mentioned early retirement. "Retiring!?" she gasped. "Well *I* retired at 55! You're only 51!" So that made me feel young LOL.
Post by: dblaace on November 18, 2021, 07:01:15 PM
Post by: Malee55 on November 18, 2021, 07:05:30 PM
Post by: MrThatsDifferent on November 19, 2021, 01:47:07 PM
Post by: Wadiman on November 19, 2021, 02:46:25 PM
Congrats, @snowball !!!
How did you choose Georgia?
Oh, a bunch of reasons. It's fairly close to where I am at the moment, as the airplane flies, so it's an easy trip. Cost of living is low and the food is good. There's a thriving English-speaking expat / digital nomad community there. I don't have to quarantine on arrival or get a PCR test because I am fully vaccinated. I can legally stay for up to 365 days and that clock will reset if I just leave the country and re-enter. I don't think I am actually going to stay that long, but it's cool to know that if I decided to stay long-term, I can, pretty easily. If I do stay longer, I'd legally be a tax resident of Georgia after living there for 6 months in a 12 month period, and they have a 0% or 1% income tax deal for small entrepreneurs, which could potentially be something to pursue.
The mountains are pretty. :) I've signed up for a group hiking day-trip out to Juta Valley on Sunday, which I'm quite looking forward to. I expect gorgeous scenery (https://www.google.com/search?q=Juta+Valley&tbm=isch&sxsrf=AOaemvJUunRe4ppjfJQfJFlT2E2uYp7t3A%3A1636049701655&source=hp&biw=1222&bih=580&ei=JSOEYYeoJeXemAWPuqbwDg&iflsig=ALs-wAMAAAAAYYQxNYduA3cXUUXHqMb9-2GfcrH85ozU&oq=Juta+Valley&gs_lcp=CgNpbWcQAzIFCAAQgAQyBQgAEIAEMgUIABCABDIGCAAQBRAeMgQIABAYMgQIABAYUABYAGD4AmgAcAB4AIAB0AGIAdABkgEDMi0xmAEAoAECoAEBqgELZ3dzLXdpei1pbWc&sclient=img&ved=0ahUKEwjHzrKKqP_zAhVlL6YKHQ-dCe4Q4dUDCAU&uact=5).
Snowball - is Georgia safe for hiking? I heard there were issues in the past but perhaps that was a long time ago? The scenery looks phenomenal and i also love their cuisine.
Post by: Wadiman on November 19, 2021, 03:32:16 PM
I have been laying low on this forum for a while now so wanted to post an update and share my thinking with y'all.
My 'stache' has two parts - realised and unrealised.
Let me explain.
The realised part is my superannuation (Australian here) and my normal portfolios (both mainly equities) - these are currently sitting at $1.4M.
The unrealised part is in property. I plan to sell my current home early in 22, and move to a lower cost area and pocket the difference - this should result in about a $650k profit which I plan to plough into superannuation, bonds (more on this in a sec) and three years equivalent of cash. I also have an investment property and plan to sell this next financial year (to avoid capital gains tax) for about a $230k net profit. This will get invested into a diversified portfolio of direct corporate bonds with staggered maturities (and mainly investment grade) which can be sold if needed to supplement cash holdings. In total, realised and unrealised parts are around the $2.3M mark which at 3.5% WR meets my target of abput $80k pa.
Now to work - i am just about at the point where i'm ready to pull the plug and provide notice (i'm now really starting to find it challenging to meet all the demands and expectations on me) but am contemplating a further 1/2 year to provide additional funds to purchase an EV without dipping into the stache. I'm just not sure about whether this should be P/T or F/T.
Anyhoo, this forum has been incredibly motivating and given me lots of actionable ideas that i am very grateful for. I still can't believe the power of compounding interest and how quickly balances can grow once a certain amount is reached. I do also realise the volatility of Mr Market and know that things can go downhill pretty quickly - hence the 3.5% SWR and largeish cash target.
Thanks all and it looks like i'll be OMSM (one more six months) into 2022! Congrats to all those who've FIRED in 2021 - i'll be joining you very soon!
Post by: Dicey on November 19, 2021, 08:49:57 PM
Thanks all and it looks like i'll be OMSM (one more six months) into 2022! Congrats to all those who've FIRED in 2021 - i'll be joining you very soon!Thanks for the new acronym @ Wadiman! It looks like Mr. Dicey* will be joining the same club. We had a discussion today. Based on current contract negotiations, staying six more months might have a very significant impact on his retirement and our medical benefits. He likes his job and only works four days a week, so it won't be a big deal. As long as we can get our rig on the road by early summer, we're happy. He may work three months and take the next three as fully paid vacation, so not a genuine OMSM, but close enough.
*I've always called him DH, but at the Moab Meetup, DH became Mr. Dicey, and I quite like it.
Post by: snowball on November 20, 2021, 04:32:17 AM
Snowball - is Georgia safe for hiking? I heard there were issues in the past but perhaps that was a long time ago? The scenery looks phenomenal and i also love their cuisine.
I'm not sure I'd go hiking solo in the countryside, as a woman, but there are plenty of organized group hikes you can join. I definitely wouldn't go biking in the countryside, even in a group...I am told that the farmers' dogs are not used to seeing people on bikes, and are much more likely to interpret you as a threat and attack.
I never know exactly how to answer safety questions, because no country is truly safe; there are risks inherent in everything we do, wherever we do it...I feel you just have to live your life. ¯\_(ツ)_/¯ Sometimes unfamiliarity really skews people's risk assumptions. The city where I lived in the Arabian Gulf was probably the safest place I've ever lived, horrible traffic aside, but some people back home thought I was brave to live there, heh.
I did have a blast on that Sunday hike and it was perfectly safe. ;) 10/10, will do again. Georgia is awesome.
Post by: dblaace on November 24, 2021, 01:45:21 PM
This is my new business card that they gave me at my retirement luncheon last week.
Post by: Malee55 on November 24, 2021, 03:36:04 PM
Post by: LightTripper on November 24, 2021, 03:59:26 PM
Sent from my EB2103 using Tapatalk
Post by: Fru-Gal on November 24, 2021, 05:27:40 PM
Post by: logjammin on November 30, 2021, 10:02:21 AM
Post by: Morning Glory on December 13, 2021, 12:20:49 PM
Post by: ScreamingHeadGuy on December 13, 2021, 07:15:03 PM
I'm drawing a blank on what to put in my out-of-office email. Anyone got suggestions?
(Morning Glory) will not be reading or responding to this or any emails, texts, phone calls, faxes, smoke signals, semaphore, and telepathic connections.
But, in all seriousness, why should you care? It's not your problem anymore. :-)
Post by: Morning Glory on December 13, 2021, 07:18:31 PM
I'm drawing a blank on what to put in my out-of-office email. Anyone got suggestions?
(Morning Glory) will not be reading or responding to this or any emails, texts, phone calls, faxes, smoke signals, semaphore, and telepathic connections.
But, in all seriousness, why should you care? It's not your problem anymore. :-)
I always get requests for internship references and I don't want the kids to think I'm just ignoring them. Gen z kids will just keep emailing again and again if you don't get back to them right away.
Post by: ScreamingHeadGuy on December 13, 2021, 07:39:34 PM
The roster is updated for everybody through post #1564.
So far we have 118 folks here who plan for FIRE in 2021 (77 have so far confirmed), 7 are OMY, 5 have gone OLY into the 2020 Cohort, and one has 2LY into 2019.
Average age of 2021ers is 45.19 (based on those 84 members who provided an age at FIRE date). 2020 average age was 48.32. 2019 average age was 47.38.
|
Post by: Malee55 on December 13, 2021, 11:11:46 PM
I am loving not working, or just doing a shift here and there when I want to. I have no intention of going back to permanent work but will help out with casual shifts if they have someone off sick - as long as it suits me.
Post by: dougules on December 14, 2021, 01:09:34 AM
Post by: snowball on December 14, 2021, 03:56:31 AM
I'm drawing a blank on what to put in my out-of-office email. Anyone got suggestions?
Well, here's the one I set up on my last day (as it usually takes months for the IT dept there to shut down the inboxes of ex-employees, and I didn't want people emailing me and not realizing they would never get a response):
It has been a pleasure working at [employer], but I have now sailed into the sunset to have adventures in distant lands. I will think of you all fondly as I eat delicious khachapuri and take pictures of snowy mountains.
As this email address is not being monitored - please forward your email to [the new person's details].
Alternatively, if you need to contact me personally, you can reach me at [Gmail address].
All the best,
Me
Post by: snowball on December 14, 2021, 04:06:05 AM
Post by: boarder42 on December 14, 2021, 04:55:14 AM
Post by: Fru-Gal on December 14, 2021, 08:42:26 AM
Post by: NoVa on December 14, 2021, 08:42:57 AM
Post by: friedmmj on December 14, 2021, 01:53:28 PM
Still on track for 12/30/2021. Had a going-away lunch. They moved my employees out from under me to their new spots.
Nice!
Post by: Morning Glory on December 14, 2021, 04:29:34 PM
Post by: ScreamingHeadGuy on December 14, 2021, 06:22:22 PM
I finished my last bit of actual work today. Planning to return my keys and laptop tomorrow, and I'm free!!!!!
So what did you set your permanent-out-of-office response to?
Post by: Morning Glory on December 14, 2021, 08:29:57 PM
Oh it's boring af:I finished my last bit of actual work today. Planning to return my keys and laptop tomorrow, and I'm free!!!!!
So what did you set your permanent-out-of-office response to?
"I will be leaving <college> in December 2021 and will no longer monitor this email address. If you need a recommendation or want to stay in touch my personal email is ___@gmail. For other requests please contact <name of person >."
Big day tomorrow: moving company is showing up for our stuff and I get a ~12k lump sum payout on my last check because I'm 9/12. (Moving over Xmas break due to desire to minimize disruption for kids).
Post by: Jack0Life on December 15, 2021, 10:00:29 AM
If you can change my wife age to 38. I'm 49.
It's been 3 months since she quit and she's loving it too much. Don't think she will want to back to work anytime soon.
I've CoastFI. Trying to cover our expenses with me working about 24 hrs.
We also just sign up for ACA. I put us down at $52k income - $13k IRA contribution and our subsidies were estimated at $1080.
Post by: Mrs. Healthywealth on December 15, 2021, 03:32:05 PM
I FIRE'd earlier this year, decided to go to school and take on a hobby job, which ended up being a JOB. Quit again today, and for the first time I have no plans but to be a SAHM and relax, at least when they are in school. Curious how having no plans will play out...excited about it.
It's good to hear some people are loving their downtime! It can be tough to switch gears.
Post by: Dicey on December 15, 2021, 04:49:06 PM
Just got my penultimate paycheck -- just making it through this year was hard but these paychecks were nice because I always front loaded my 401k! Last day 12/28/22. I need to remember to check on my ESPP contributions and make sure they get refunded.Unless you only get paid once a year, you might have a typo in that leaving date.
Post by: MoneyTree on December 15, 2021, 05:45:22 PM
I hit my FI number earlier this year, and I was fretting about how I would leave my job. But since then, my job has become 100% remote permanently, so I don't really feel too compelled to leave since a lot of the parts of work I hated are not really a problem anymore.
If I lost my job today, I wouldn't be worried financially one bit.
Feels pretty anticlimactic, but this is the right decision for me right now.
Post by: Morning Glory on December 15, 2021, 06:45:27 PM
Post by: friedmmj on December 16, 2021, 11:47:36 AM
Been fun reading about everyone's journey achieving FIRE this year.
I FIRE'd earlier this year, decided to go to school and take on a hobby job, which ended up being a JOB. Quit again today, and for the first time I have no plans but to be a SAHM and relax, at least when they are in school. Curious how having no plans will play out...excited about it.
It's good to hear some people are loving their downtime! It can be tough to switch gears.
Congratulations on regaining your freedom! Would you mind sharing what the hobby job was?
Post by: Mrs. Healthywealth on December 16, 2021, 04:26:25 PM
Been fun reading about everyone's journey achieving FIRE this year.
I FIRE'd earlier this year, decided to go to school and take on a hobby job, which ended up being a JOB. Quit again today, and for the first time I have no plans but to be a SAHM and relax, at least when they are in school. Curious how having no plans will play out...excited about it.
It's good to hear some people are loving their downtime! It can be tough to switch gears.
Congratulations on regaining your freedom! Would you mind sharing what the hobby job was?
Thanks! Hobby job was the job my financial planner offered me when we confirmed I could FIRE. This was a golden opportunity since it wasn't a sales job, but truly a job w/ an ethical firm who got really detailed in the planning they provided their clients. This led me to return to school, pass the CFP exam, and join the partners in their meetings with clients (all since I FIRE'd earlier this year whew!). Learned a ton, and enjoyed seeing how CFP's make a huge impact in clients' lives. But, they wanted me to work 50hrs. Having MMM members to provide guidance allowed me to pause and think "what the hell am I doing with all my free time...this wasn't the plan." One of the partners recommended I "think of the end game which led to a $500k plus salary. The 'only' thing is your kids will be grown at that point." This is where defining what "enough" monetarily really helped.
Post by: friedmmj on December 17, 2021, 07:29:45 AM
Been fun reading about everyone's journey achieving FIRE this year.
I FIRE'd earlier this year, decided to go to school and take on a hobby job, which ended up being a JOB. Quit again today, and for the first time I have no plans but to be a SAHM and relax, at least when they are in school. Curious how having no plans will play out...excited about it.
It's good to hear some people are loving their downtime! It can be tough to switch gears.
Congratulations on regaining your freedom! Would you mind sharing what the hobby job was?
Thanks! Hobby job was the job my financial planner offered me when we confirmed I could FIRE. This was a golden opportunity since it wasn't a sales job, but truly a job w/ an ethical firm who got really detailed in the planning they provided their clients. This led me to return to school, pass the CFP exam, and join the partners in their meetings with clients (all since I FIRE'd earlier this year whew!). Learned a ton, and enjoyed seeing how CFP's make a huge impact in clients' lives. But, they wanted me to work 50hrs. Having MMM members to provide guidance allowed me to pause and think "what the hell am I doing with all my free time...this wasn't the plan." One of the partners recommended I "think of the end game which led to a $500k plus salary. The 'only' thing is your kids will be grown at that point." This is where defining what "enough" monetarily really helped.
Thanks for sharing that! It's too bad they couldn't have offered you something part time and flexible after having put in the work to get the CFP. I have noodled on the idea of getting a CFP designation myself, but leaning towards not. I have no intention of making a serious career out of it. Thinking of it more as a hobby or as a way to pick up some random client(s) here and there as I see fit.
Post by: dsw on December 17, 2021, 09:12:17 AM
This is the penultimate 2021 roster posting. I'll circle around sometime in January 2022 for the FINAL results of our grand adventure. It's been a blast sharing these past 11.5 months of the year with you people. I pray you've all made the most of your time on this journey to "something else" in our lives, and hope you enjoyed sharing some of it with us.
The roster is updated for everybody through post #1564.
...
Note that I should be listed as confirmed for July. I can't remember the actual date. What is time?
Post by: Rubyvroom on December 17, 2021, 06:05:58 PM
Didn't seem real until I realized I could delete their email and vpn apps from my phone, and then it was like...
(https://i.pinimg.com/474x/fa/ff/3a/faff3a1036ba04eebeac128dae742e37.jpg)
Post by: boarder42 on December 17, 2021, 06:13:06 PM
Rubyvroom confirmed 12/17/21 @ 40 y/o.
Didn't seem real until I realized I could delete their email and vpn apps from my phone, and then it was like...
(https://i.pinimg.com/474x/fa/ff/3a/faff3a1036ba04eebeac128dae742e37.jpg)
Congrats!
Post by: Ladychips on December 17, 2021, 06:26:49 PM
Congratulations everyone!!!
Post by: Aethonan on December 17, 2021, 06:29:54 PM
I guess I need to update my status to SWAMI. I left work in May, but as previously posted took on part-time for-fun work this summer/fall... and appear to still be doing it! I (*gasp*) am actually enjoying being a lawyer. So strange. Thank you, FU money.
Also, not exactly SWAMI because definitely not "advanced mustachian." The unexpected income over our needed FIRE amount means I'm enjoying a pretty bananas-expensive hobby again using that part-time lucre. I really, really appreciate the freedom from the majority of BOTH work and financial anxiety that this path has offered. It's lovely.
Post by: 80Westy on December 18, 2021, 07:22:57 AM
Post by: Much Fishing to Do on December 18, 2021, 12:03:45 PM
Rubyvroom confirmed 12/17/21 @ 40 y/o.Thanks for telling me that was possible...I mean it makes sense...but somehow I've kept assuming the day after I leave I would be throwing my phone away and getting one untainted with work email.....damn I hate this thing, I think I still will.....
Didn't seem real until I realized I could delete their email and vpn apps from my phone, and then it was like...
(https://i.pinimg.com/474x/fa/ff/3a/faff3a1036ba04eebeac128dae742e37.jpg)
Post by: Fru-Gal on December 18, 2021, 02:21:44 PM
Post by: Mrs. Healthywealth on December 18, 2021, 03:28:08 PM
Good call! The instructor, who had 2 Ivy League degrees kept saying it was the hardest test you will ever take…and it truly was. Took a lot of crazy intense studying hours. Don’t regret it, but wouldn’t ever do it again EVER.Been fun reading about everyone's journey achieving FIRE this year.
I FIRE'd earlier this year, decided to go to school and take on a hobby job, which ended up being a JOB. Quit again today, and for the first time I have no plans but to be a SAHM and relax, at least when they are in school. Curious how having no plans will play out...excited about it.
It's good to hear some people are loving their downtime! It can be tough to switch gears.
Congratulations on regaining your freedom! Would you mind sharing what the hobby job was?
Thanks! Hobby job was the job my financial planner offered me when we confirmed I could FIRE. This was a golden opportunity since it wasn't a sales job, but truly a job w/ an ethical firm who got really detailed in the planning they provided their clients. This led me to return to school, pass the CFP exam, and join the partners in their meetings with clients (all since I FIRE'd earlier this year whew!). Learned a ton, and enjoyed seeing how CFP's make a huge impact in clients' lives. But, they wanted me to work 50hrs. Having MMM members to provide guidance allowed me to pause and think "what the hell am I doing with all my free time...this wasn't the plan." One of the partners recommended I "think of the end game which led to a $500k plus salary. The 'only' thing is your kids will be grown at that point." This is where defining what "enough" monetarily really helped.
Thanks for sharing that! It's too bad they couldn't have offered you something part time and flexible after having put in the work to get the CFP. I have noodled on the idea of getting a CFP designation myself, but leaning towards not. I have no intention of making a serious career out of it. Thinking of it more as a hobby or as a way to pick up some random client(s) here and there as I see fit.
Post by: Dicey on December 19, 2021, 09:16:49 AM
@Dicey that is the actual date -- it was not of my choosing.
Do you really mean you have to wait until the end of 2022 to get your ultimate paycheck or is this a typo?
Just got my penultimate paycheck -- just making it through this year was hard but these paychecks were nice because I always front loaded my 401k! Last day 12/28/22. I need to remember to check on my ESPP contributions and make sure they get refunded.Unless you only get paid once a year, you might have a typo in that leaving date.
Post by: Fru-Gal on December 19, 2021, 10:39:04 AM
Post by: Dicey on December 19, 2021, 10:53:21 AM
Oh! Sorry you are right. 2021.Whew! I was worried for you, That's a long time to wait for a final paycheck.
Post by: Well Respected Man on December 20, 2021, 07:35:24 AM
Rubyvroom confirmed 12/17/21 @ 40 y/o.
Didn't seem real until I realized I could delete their email and vpn apps from my phone, and then it was like...
(https://i.pinimg.com/474x/fa/ff/3a/faff3a1036ba04eebeac128dae742e37.jpg)
They forgot to remove me from a couple of the on-call rotations, so I got a few alerts and calls after I quit. While I resented the interruptions, I did enjoy saying FU after ignoring them.
Edit: It was also fun moving all my apps related to my hobbies onto the screen real estate formerly occupied by work-related apps.
Post by: rantk81 on December 20, 2021, 07:51:06 AM
Rubyvroom confirmed 12/17/21 @ 40 y/o.
Didn't seem real until I realized I could delete their email and vpn apps from my phone, and then it was like...
I am FI, but not RE yet. I did recently leave a previous employer of more than a decade, though. It felt amazing to delete the VPN and other crap from my phone and personal computer. I even went into my browser settings, and deleted all cookies and browsing history from any of the domains that were associated with them, remove the slack account, etc. Very liberating.
Post by: SmartyCat on December 21, 2021, 09:45:55 PM
Sent from my SM-G781V using Tapatalk
Post by: Fru-Gal on December 28, 2021, 08:49:29 AM
Post by: Rubyvroom on December 28, 2021, 09:46:17 AM
In my COBRA packet I received a "New Government Notice Extends COBRA Deadlines During Covid-19" form. In summary, certain notification and election deadlines have been extended through the lesser of "1 year or 60 days after the pandemic ends."
I'll quote the potentially key paragraph below, bold was actually in the letter (note that Outbreak Period is defined as "March 1, 2020 through 60 days after the pandemic ends, which will be announced by the government at a later date"):
Quote
Because the Outbreak Period is disregarded when applying COBRA election and payment deadlines, a qualified beneficiary has up to the lesser of 1 year or 60 days after the end of the Outbreak Period to elect COBRA, then 45 days after that to pay the initial premium. If at any time, you decide your COBRA premium(s) are less expensive than your provider's bills, the carrier will allow a retroactive reinstatement back tot he last paid through date and any outstanding claims may then be submitted to the insurance carrier(s) for processing through COBRA. Until that time, your COBRA insurance will be in a terminated status and claims may be denied.
The only reason this piqued my interest is that I was trying to figure out if extending our relatively cheap life and vision insurance through COBRA was worth it. I've always heard folks on this forum talk about the "one month free" situation where you have that initial grace period of 45 days, and obviously by then you have the benefit of a month of hindsight. But a year of hindsight? The "retroactive reinstatement" clause seems EXCEPTIONALLY weird in the case of life insurance...
I'm trying to dig up information online on this as it's the first I've heard about it (granted I've never cared about COBRA before so it's not like I stay current on COBRA news). It seems the IRS issued clarifying guidance back in October, but as with most "clarifying guidance" from the IRS, it left some grey area with regards to interpretation.
I thought I'd throw it out to these forums to discuss, specifically because it may help some of the folks that are trying to decide what to do with benefits at the tail end of the year here.
Post by: dblaace on December 28, 2021, 10:59:59 AM
Last paycheck in the bank!
I have one more coming and I will get News Years day as a paid holiday since our weeks run Monday-Sunday. Does that make me OMY? :)
Post by: exit2019 on December 30, 2021, 12:34:42 PM
nobody cares but by way of excuse mongering
At this point, I am letting fate decide via career suicide. I communicated last month to everyone involved that I am done in February of 2022 (after my next contractual payout) because i just don't care, don't like the work, don't have to work, don't find the domain interesting any more, have no interest in retention packages (so don't bother running it up the chain): I would rather do nothing. Also, I'm taking a few weeks off (now). When I get back another two weeks and I'm just going to spend the time wrapping things up, handing things off, etc. I'm telling everyone the day I come back.
How is this a fail?
Career suicide proved something to me that I've told other people: if you don't care, visibly just don't care, at all, other people suddenly seem to care more, a lot more. It is perverse.
I originally was going to go in 2019-02, hence the name, then 2020, and so on. Those didn't work out: retention got the best of me. What can I say? I grew up lower middle class in a small town. In '20 I was on my way out, they gave me big multi-grade promo the day we were all told to work from home due to some virus in China. I am now in a terminal grade level in my industry. '21 there just seemed to be no point: covid and my wife has health issues that make her likely to have a bad time. It just has not seemed possible to do what I need to do for the last nearly two years, so why not take title and money?
This time the response wasn't a promo or a package, but an ask to (fund me) start(ing) a company on my own terms without compromises. So while no promo is possible, a different kind of thing is now on offer. This isn't a sure thing, they are working on the details. If that doesn't work out, I've already strapped on the suicide bomb so within a month or two I will finally be at rest or I will be continuing the grind for at least a few more years. I won't know for the next month or two.
The way I have always envisioned things is that post-exit was that my wife and I would take a long trip. We would get the hell out of dodge. My work addiction wouldn't be cured but would be unsatisfied. Travel until I feel sane again, or at least not so fried. 2022 was looking good until recently. Bah.
Anyway.
Unlike the last three years, I'm not just going to join the next cohort. It will happen when it happens. So I guess I'm not OMY or whatever, I'm "TFUTEH" - too fucked up to exit healthy.
none of any of this matters to you guys, so I offer this
sincere congratulations to all who pulled the trigger. I have watched three cohorts and each always seems to work out. A few people go back to work, a few (like me) go OMY. Lots of people seem to get the hell out. I hope it turns out to be all you've envisioned and wanted. this is a tough time for a lot of people so be good to everyone. remember that the stock market giveth and taketh away. best of luck to you, shine on.
happy 2022
Post by: NoVa on December 30, 2021, 12:47:16 PM
Post by: FireLane on December 31, 2021, 09:06:46 AM
I retired at the end of July, and I've been loving it. I had a good job, but I haven't missed work for a second. Ever since I quit, I've been busier than ever!
Between more walks and hikes, more exercise, more books, more cooking, more long-deferred cleaning and home renovation projects, and more time to spend with my son, I haven't been bored for a moment. Without a job to occupy my waking hours, life is like an infinite buffet. The biggest problem is deciding what you want to do most, when there are so many choices and only so many hours in the day.
The one thing I haven't gotten to do as much of as I wanted is travel, thanks to the pandemic. My whole family is vaccinated, so I'm not worried about that, but it still feels like the prudent and responsible thing to do to stay home to help protect the vulnerable and not overload the hospitals. I'm hoping that the current surge will be the last big one, and that next year things will start to improve. I have a long bucket list of trips I want to take, and I'm eager to start whittling away at it.
Quitting my job was one of the psychologically most difficult things I've ever done, but I'm very glad I did. Life is so much better when you're free to really live it, when your time and energy is completely your own and you're not beholden to anybody. If there's anyone out there grappling with doubt or uncertainty like I was, let me give you a nudge to take the jump. It's completely worth it!
Post by: boarder42 on December 31, 2021, 10:45:12 AM
Post by: Fru-Gal on December 31, 2021, 06:57:41 PM
Post by: boarder42 on December 31, 2021, 08:02:45 PM
Thanks for the encouragement, @FireLane! Congrats, @boarder42! I would have been leaving in the first days of 2022 but my boss accelerated my departure by about a week, because he is petty like that. I may be checking in with payroll because it surprises me that according to my final paycheck, my annual salary is short $2k just because of leaving 3 days before the end of the year. But hey I lasted an entire year beyond what I wanted to do and that was HARD. And now I'm free.
I hear ya. I mean I do next to nothing at work now esp the last 4 months but the feeling to be available hurts me inside. I don't want that obligation. And at this point another year would be like scraping fingernails ona chalkboard. Mad props you put up with that year and get your cash!
Post by: TheContinentalOp on January 01, 2022, 09:11:40 AM
I FIRE'd on March 19th.
Highlights:
Lost 35 pounds
Hiked to all 10 waterfalls in the Shenandoah National Park.
Finished my novel. Now querying agents.
Hiked, Biked and Backpacked for the month of August in the mountains out west.
Most books I've read in a year since high school
Spent 2.09% of my invested Net Worth in 2021.
Post by: BlueMR2 on January 01, 2022, 10:18:54 AM
May happen early in 2022 though. Watching COVID sweep through the office MUCH worse than before makes me really question why I continue working at this point.
Post by: crazy jane on January 01, 2022, 01:02:05 PM
Post by: XGE on January 01, 2022, 05:02:43 PM
Post by: asauer on January 02, 2022, 07:25:48 AM
Retired on 31 December after 31 years of civil service. Feels great. I am excited to see what 2022 brings!
congratulations!! Great way to end the year.
Post by: Ladychips on January 02, 2022, 09:30:18 AM
Retired on 31 December after 31 years of civil service. Feels great. I am excited to see what 2022 brings!
congratulations!! Great way to end the year.
+1!! This cohort has absolutely rocked!!
Post by: dblaace on January 02, 2022, 06:09:46 PM
It just occurredto me that tomorrow is a Monday after a the Christmas/New year weeks and I don't have to go back to work!
I'm officially
Post by: boarder42 on January 02, 2022, 06:21:16 PM
I've been off since Thanksgiving and up until now it has been more like a vacation or a long Holiday weekend.
It just occurredto me that tomorrow is a Monday after a the Christmas/New year weeks and I don't have to go back to work!
I'm officiallyunemployedretired.
Congrats. I feel Eriee right now. I have 2 days off then I submit my letter of retirement.
Post by: Turtle on January 03, 2022, 09:16:08 AM
Thanks for the encouragement, @FireLane! Congrats, @boarder42! I would have been leaving in the first days of 2022 but my boss accelerated my departure by about a week, because he is petty like that. I may be checking in with payroll because it surprises me that according to my final paycheck, my annual salary is short $2k just because of leaving 3 days before the end of the year. But hey I lasted an entire year beyond what I wanted to do and that was HARD. And now I'm free.
I would check with HR. If you give 2 weeks notice and get walked out early, you may be due the final 2 weeks pay regardless of whether or not you were at work.
Also, if you said that you were retiring and were walked out early -- HR may treat retirement differently with regards to 401k final matches for 2021, such as bonus/profit sharing match that a lot of companies don't pay until March/April for the year before.
Post by: 4tify on January 03, 2022, 09:58:33 AM
I agreed to some part time consulting with my old firm through January. So far it’s been really easy money so no complaints.
Turning my thoughts towards how I can be of service and stay engaged with life without putting myself back into full time work. I’m giving myself a full year sabbatical to think about this as a buffer.
Purchased health insurance for the first time in many years. Won’t get ACA benefits if I do Roth conversions. Still figuring that out. I mistakenly told covered CA my job ended and got thrown onto medi-CAL so had to purchase off exchange. Multiple phone calls and letters still haven’t corrected this. Our health care system sucks!
Covid keeps screwing up my travel plans. We did a trip over the holidays and it went pretty well, but postponed a trip to Nashville to see friends in February due to fears of Omnicrom shutting us down. We have a wedding to attend in March so hoping the spike has dropped. I really want to hit the mountains, so maybe we’ll try for April if the snow holds.
Lastly: ZERO regrets about leaving the job. I was worried I would regret it and that I hadn’t fully figured out what to do afterward, but those fears were pointless. I can feel the glow of FI joy growing in place of those concerns.
Best to everyone! Happy ‘22!
Post by: SwordGuy on January 03, 2022, 05:25:46 PM
If you don't like the answer HR gives you, check with your state's labor relations department. You might like their answer better.Thanks for the encouragement, @FireLane! Congrats, @boarder42! I would have been leaving in the first days of 2022 but my boss accelerated my departure by about a week, because he is petty like that. I may be checking in with payroll because it surprises me that according to my final paycheck, my annual salary is short $2k just because of leaving 3 days before the end of the year. But hey I lasted an entire year beyond what I wanted to do and that was HARD. And now I'm free.
I would check with HR. If you give 2 weeks notice and get walked out early, you may be due the final 2 weeks pay regardless of whether or not you were at work.
Also, if you said that you were retiring and were walked out early -- HR may treat retirement differently with regards to 401k final matches for 2021, such as bonus/profit sharing match that a lot of companies don't pay until March/April for the year before.
Post by: friedmmj on January 06, 2022, 09:47:06 AM
Rubyvroom confirmed 12/17/21 @ 40 y/o.
Didn't seem real until I realized I could delete their email and vpn apps from my phone, and then it was like...
(https://i.pinimg.com/474x/fa/ff/3a/faff3a1036ba04eebeac128dae742e37.jpg)
They forgot to remove me from a couple of the on-call rotations, so I got a few alerts and calls after I quit. While I resented the interruptions, I did enjoy saying FU after ignoring them.
Edit: It was also fun moving all my apps related to my hobbies onto the screen real estate formerly occupied by work-related apps.
Hey there! Congrats on the retirement. Did you pull the trigger on relocating yet? You were talking about seeking out a new locale after pulling the plug.
Post by: Well Respected Man on January 08, 2022, 08:23:20 AM
Hey there! Congrats on the retirement. Did you pull the trigger on relocating yet? You were talking about seeking out a new locale after pulling the plug.
We sold our suburban house and moved to a city apartment, and used part of the house proceeds to buy a country/weekend/ski house. Working on the new place and managing contractors has been keeping me busy, and yesterday I went skiing for the first time at the mountain that is only 5 minutes away.
The weekend place is less than 2 hours away from the city, but the driving is getting to me a bit. My wife is still working, so we are typically in Friday afternoon rush hour traffic. I don't know how people do that every day.
Post by: friedmmj on January 10, 2022, 07:43:18 AM
Hey there! Congrats on the retirement. Did you pull the trigger on relocating yet? You were talking about seeking out a new locale after pulling the plug.
We sold our suburban house and moved to a city apartment, and used part of the house proceeds to buy a country/weekend/ski house. Working on the new place and managing contractors has been keeping me busy, and yesterday I went skiing for the first time at the mountain that is only 5 minutes away.
The weekend place is less than 2 hours away from the city, but the driving is getting to me a bit. My wife is still working, so we are typically in Friday afternoon rush hour traffic. I don't know how people do that every day.
That sounds super exciting. Gotta get the wife on board the retirement train so you can avoid that weekend traffic!
Post by: Jack0Life on January 10, 2022, 11:08:32 AM
Hey there! Congrats on the retirement. Did you pull the trigger on relocating yet? You were talking about seeking out a new locale after pulling the plug.
We sold our suburban house and moved to a city apartment, and used part of the house proceeds to buy a country/weekend/ski house. Working on the new place and managing contractors has been keeping me busy, and yesterday I went skiing for the first time at the mountain that is only 5 minutes away.
The weekend place is less than 2 hours away from the city, but the driving is getting to me a bit. My wife is still working, so we are typically in Friday afternoon rush hour traffic. I don't know how people do that every day.
Nice. Where is this at ??
Post by: Malee55 on January 10, 2022, 02:14:59 PM
Post by: Well Respected Man on January 10, 2022, 02:48:03 PM
Nice. Where is this at ??
VerHampshire, as we call it :-)
Post by: Abe Froman on January 12, 2022, 01:32:22 PM
So ... a little update from the Sausage King.
Last I left it in this thread - was in April of 2021, https://forum.mrmoneymustache.com/welcome-to-the-forum/2021-fire-cohort/msg2826605/#msg2826605
Well - nearing the end of the summer as I was looking to close the door with my company - when my boss requested some help on a special project because the project lead found out she had a terminal illness. The project was to be done in a few months (complete at end of November 21). I had the expertise and he requested some help since they were in a little bit of a jam. I knew it was only a few months - it allowed me some part time work - and also allowed me to use up a good portion of my accrued PTO (well over 3 months worth). Moreover it maintained a good relationship in keeping the possibility for part time work in the future - should I ever want it.
So I said yes.
Retirement fail?
I don't think so - because there was nothing going on anyways - COVID was locking down all the fun things in cold weather and I figured I might as well find a way to use up my PTO.
The project went well and ended successfully on time. For the balance of Dec 2021 - I dialed in my PTO usage to leave only 3 hrs left by the time Ryan Seacrest counted down to midnight.
So for the last month of December - I have been learning to brew beer, helping the wife foster dogs, creating some small puzzle hunts for my two boys, enjoying my time getting through the holidays, and playing online poker with the extended family. This early taste of retirement is GREAT - but I haven't found my groove yet. Think I need a schedule and stick to some semblance of one, whatever turns out to be - like exercise in the morning, a house chore or two, fun thing for me - and then dinner family time. I don't know. Still cloudy/fuzzy in this.
Since I was ending my PTO - this week would really really be my last day at work. I cancelled my Corp Amex card and had my rewards points cashed into a hand-full of gift cards for myself. Nice extra $1000 coming in.
I also double checked that I backed up and saved my corp Email, you know all that stuff.
So I went ahead and sent an email to the boss saying - effectively - thank you for everything and for the PT opportunity that worked really well given my need to be super flexible.
I fully expected a 'hey - thank you, and check in with HR for any close out items.' I mean I was really planning on getting the termination letter from my company so I can upload it to my state's Health Exchange and prove for 2022 - I have no income.
But that didn't happen. The boss wants me to call since he has a few PT ideas.
I'll find out what he is thinking - but what I am really thinking about is that this is possibly gonna screw up my tax free Trad-->Roth conversion ! Good problem to have I suspect.
Post by: LightTripper on January 12, 2022, 04:17:55 PM
Post by: AO1FireTo on January 12, 2022, 08:23:20 PM
So ... a little update from the Sausage King.
Love this handle, made me laugh. FI is all about choice. If you choose to work part time, more power to you. The key is that it"s up to you
Post by: ScreamingHeadGuy on February 02, 2022, 08:55:38 PM
So far we have 116 folks here who plan for FIRE in 2021 (84 have confirmed and 32 have fallen off the face of the earth), 7 have gone OMY, 5 jumped OLY into the 2020 Cohort, and one has 2LY into 2019.
April was the most popular month with 14 FIRE-ees and February was the least popular with only 3.
Average age of 2021ers at FIRE was 42.42 (based on those 85 members who provided an age at FIRE date). 2020 average age was 48.32. 2019 average age was 47.38.
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Post by: Malee55 on February 02, 2022, 09:56:53 PM
Post by: Abe Froman on February 03, 2022, 07:03:21 AM
https://tableconvert.com/excel-to-bbcode
Post by: Much Fishing to Do on February 03, 2022, 07:15:33 AM
Average age of 2021ers at FIRE was 42.42 (based on those 85 members who provided an age at FIRE date).
WOW!
Post by: goat_music_generator on February 03, 2022, 11:22:29 AM
... Man, it's been a weird fucking year.
Post by: FireLane on February 04, 2022, 06:54:15 PM
I recently celebrated six months of early retirement. I wrote about it in my journal (https://forum.mrmoneymustache.com/journals/maybe-we'll-make-it-after-all/msg2967259/#msg2967259), if anyone wants to compare notes.
Post by: Dreamer40 on February 13, 2022, 09:13:58 PM
My FIRE anniversary is coming up in a few weeks. I feel like it took me maybe half a year to settle. I did an insane amount of edible landscaping in my yard last summer and enjoyed a break from it over the winter. I also spent a lot of time building relationships with family and community people who share my interests. My weekly routine has gradually become more settled, but still flexible, in a way that I really like. There are certain things I do weekly, plus big blocks of unstructured time that I always fill up with whatever project currently interests me.
Overall, I feel like my life is more full and interesting than pre-FIRE. People keep asking me if I’m going back to work. I thought about it a few times, especially early on, and looked around but nothing felt right. And now I have a guy who keeps occasionally contacting me to do some work for him, but I can’t imagine sitting in front of a computer again. And now that my life has filled up, even a few hours a week of work wouldn’t align with my priorities for this year. I’ve gotten better at even setting priorities instead of just getting swept away by whatever is front of me. And I’ve become more patient and less rushed. Also less stressed by things that go wrong. I like the retired me :) I’m excited about 2022.
Post by: Fru-Gal on February 15, 2022, 10:36:42 PM
I have been contacted by 4 colleagues for work. I need to be better and clearer about saying no. The first zoom meeting I took (for something that I thought I should just make sure wasn't a great opportunity, even though I figured it wasn't) was so classically corporate. The guy barely asked me any questions and instead gave me a 45 minute sales pitch for their product. At the end I think we mutually agreed it wasn't a fit, because I had already defined for myself certain work that I wasn't going to do again, and when I clarified to him that I wouldn't do *that* task but was possibly considering *this* task, he didn't like that.
After the call, I had a flashback of my pre-corporate life of invoicing client companies and trying to get paid. At that moment I realized that unless it is fully in the realm of my passion project (and perhaps not even then), I ONLY want passive income. I don't want to invoice, I don't want to carry small biz insurance, I don't want to listen to some asshole pontificate. As someone else on this forum put it recently, I don't want to do it the way they want it, only the way I want it. Anyway, that was clarifying. However, I still need to follow up to two requests and politely decline. I declined another but even there was a bit equivocal and said check back in a few months, even though, again, I have no desire to do that work (for my old company, no less)!
I'm trying to be a bit kind to myself. I still have my checklist mentality about my day, but I will remind myself that it's OK if I don't do anything at all.
Also, there's a lot of releasing, but in the best way. I am the kind of person (I'm sure common on this forum) who becomes quite immersed in their profession. To realize now that I don't have to care about any of the attendant aspects of my former profession anymore is amazingly freeing. I thought I would feel like it was a waste of my decades of experience. Instead it's simply a chapter that's closed now. Sure, I could come back to it. But I have shut off all news from my former profession.
The biggest thing so far is a sense of wonder/disbelief at this truly working out. Like, it still seems impossible to me that I actually saved enough to live off my investments. But I want to reiterate what many have said: leave as soon as you have "enough" (or before). You are truly master of your fate when you can say "I came, I worked, I saved -- and then I left and started a whole new phase of my life." NO RAGRETS!!!
Post by: LightTripper on February 16, 2022, 03:32:19 AM
@Fru-Gal I found what you wrote about moving on from your professional sphere really interesting. I nearly signed up for a conference this morning that might have been interesting (relates to an area I used to do a lot of work on, and is currently zooming back up the news agenda) but had no possible relevance to my one remaining work project. I'm not planning on sourcing any more, I'm not planning on working on any projects in that area ever again - so I do not need to spend even one day of my life and even £x of my company's money learning more about it. If I want to find out more I'm sure there are dozens of articles and videos in the public domain I could use to read up in a leisure kind of way (looking at the topic more generally, rather than from the perspective of my particular professional field of interest).
It feels definitely weird to withdraw from a field I've been so immersed in for 25 years but on the other hand, I think if I try to stay "current" I will end up prolonging some of the stress into my post-work life and taking away energy I could otherwise be using to step forward positively into whatever is next. I'm not sure if I'll have the confidence to go absolutely cold-turkey, but I can see that it might be the healthiest way for me, once I've done some initial decompression/transition processing.
Post by: Well Respected Man on March 14, 2022, 11:11:26 AM
Bottom line to anyone young who might be reading: make the sacrifices to get your freedom as soon as you can. Stay in shape now and when you retire.
Post by: dblaace on March 14, 2022, 01:15:40 PM
I'm now 7 months FIREd, and not regretting leaving at all. I only wish I had pushed to do it sooner, as I am 56. I feel like my body is breaking down and getting in the way of the physical activities I want to do. I am generally accepting of minor infringements, such as knee pain preventing jumping/basketball/volleyball/etc., or stiffness and minor aches and pains that come with aging. But I am not pleased about sciatica and back injuries that lead to months of sedentary life. I have plenty of non-physical interests to work on and play on, but I'm a big believer in staying fit as a lifetime activity and extender. So I'm working hard to heal, and hope to be back on the active track soon.I can relate to this! The past three months I've been rethinking all of my retirement plans. My health seems to be accelerating in the wrong direction.
Bottom line to anyone young who might be reading: make the sacrifices to get your freedom as soon as you can. Stay in shape now and when you retire.
Post by: EscapeVelocity2020 on March 14, 2022, 02:14:03 PM
I'm now 7 months FIREd, and not regretting leaving at all. I only wish I had pushed to do it sooner, as I am 56. I feel like my body is breaking down and getting in the way of the physical activities I want to do. I am generally accepting of minor infringements, such as knee pain preventing jumping/basketball/volleyball/etc., or stiffness and minor aches and pains that come with aging. But I am not pleased about sciatica and back injuries that lead to months of sedentary life. I have plenty of non-physical interests to work on and play on, but I'm a big believer in staying fit as a lifetime activity and extender. So I'm working hard to heal, and hope to be back on the active track soon.
Bottom line to anyone young who might be reading: make the sacrifices to get your freedom as soon as you can. Stay in shape now and when you retire.
What age did things start to decline? I hear that the 50's can be a tricky time to navigate. I'm in my late 40's and still running half marathons at similar times as I did 10 years ago...
(Edit to remove overly large attachment of my half marathon finish times...)
Post by: lightmyfire on March 14, 2022, 03:56:41 PM
I ended up giving my notice in October and finishing up at the end of December. But I'm kind of cheating (shh, don't tell the retirement police) because I've been helping out at work one day a week. I have to say, it really makes no difference at all to my bottom line, but the little extra income has been psychologically useful during these times of high inflation and tanking stocks. Any of you other recent retirees doing daily gut checks? Mostly I'm staying serene, but part of me wonders if I have the worst timing ever...
At least I bought a house for the right price at the right time. It cut my housing expenses in half, and helped me feel more balanced in my portfolio. If all the shit hits the fan, I have plenty of room for flexibility in my spending (plus I'm living off a cash cushion for the first two years, so mostly I just plug my ears and close my eyes and ignore what the market is doing)
Post by: Malee55 on March 14, 2022, 05:32:06 PM
Post by: Well Respected Man on March 16, 2022, 07:22:12 AM
What age did things start to decline? I hear that the 50's can be a tricky time to navigate. I'm in my late 40's and still running half marathons at similar times as I did 10 years ago...
Well, my PRs in lifting are all from 10 years ago, 5k PR is from 2019 (23:16). I fell on my ass and hit my head trying to play volleyball with the kids in like 2017. Around 2014 my back started hurting when I stand or walk for a lengthy period. Probably 2012 my knees spoke up about jumping. BP was rising through my 40s and early 50s, so had to make dietary changes. I'm sure there's plenty more that I could have done to avoid some of the injuries, but some of it is just getting old.
I'm in my first ever stint of physical therapy now, and making some realizations just from the questions they ask. I recommend it for any training injury, even if it's for the learning experience.
Like I said, I'm going to be back to active status soon, just with further lowered expectations. In my 40s, I had visions of winning races in my age group at 50 or 60, but it's not going to happen, and I'm OK with that.
Post by: EscapeVelocity2020 on March 16, 2022, 09:49:19 AM
Post by: Fru-Gal on March 16, 2022, 09:31:31 PM
Post by: Arbitrage on March 21, 2022, 09:29:53 AM
One observation has been the necessary mental shift in savings with part-time work. Even at half-time, we still spend far less than we make...but after taxes and maxed-out workplace savings plans, it's actually pretty close to money in = money out. That can make the occasional big expenses *feel* like they're an emergency, even though they're not. Since we're getting hit with a bunch of big expenses right now, we have to keep telling ourselves that it's all budgeted for, and we have plenty of savings.
Obviously, the mental shift to no income will be much bigger, but I wasn't really considering that it would feel different to be pseudo paycheck-to-paycheck instead of having a huge chunk of extra cash every month to dump into our taxable savings.
Post by: Ladychips on March 21, 2022, 09:43:35 AM
Post by: Dicey on March 21, 2022, 09:45:35 AM
Today is the Monday after spring break, and I didn't have to go to work. I stayed in bed later than usual to celebrate.Ha, apparently I'm celebrating with you.
Post by: Fru-Gal on March 21, 2022, 02:17:26 PM
Quote
Obviously, the mental shift to no income will be much bigger, but I wasn't really considering that it would feel different to be pseudo paycheck-to-paycheck instead of having a huge chunk of extra cash every month to dump into our taxable savings.
For me that aspect is similar to being FI while working: Even if I “spend” my whole paycheck (paying myself first), l know l have enough saved to walk away. In my case my husband is still working and while he doesn’t make much, I have been replenishing my cash cushion with occasional contributions from him.
Post by: Morning Glory on March 21, 2022, 02:20:36 PM
Today is the Monday after spring break, and I didn't have to go to work. I stayed in bed later than usual to celebrate.
My spring break is January-May this year.
Post by: Dreamer40 on March 21, 2022, 03:41:03 PM
Today is the Monday after spring break, and I didn't have to go to work. I stayed in bed later than usual to celebrate.
Crazy thing: I’m actually getting up earlier than I used to while working. On purpose! :) I’m surprised at myself, but it turns out that I enjoy getting up at 6am to do the stuff I want to do. I just didn’t want to get out of bed to deal with work.
And yay spring! I’m so antsy for warm weather. We’re having a freak 70-degree day tomorrow and I’m preparing for it like it’s a holiday. All the patio furniture is coming out, some local grassfed T-bones are defrosting in the fridge, and I’m thinking about what wine I want to go buy from the shop. So glad I can enjoy the random warm weekday instead of wasting it behind a desk.
Post by: asauer on April 20, 2022, 06:50:05 AM
And about a month ago I finally was in a head space to realize that I don't think my career is over. I just needed a break very badly. So, I'm jumping back into W-2 work, started a new job on Monday! But here's what's different this time:
1. Fully remote, I will never to go an office again
2. I will be doing my job, a good job and nothing more. I'm not taking on 'stretch' projects or doing other peoples' work.
3. I will be taking daily breaks (hello lunch time workouts) and my PTO
4. I will have a great opportunity to build my Vanguard charitable account- I am SUPER psyched about this
5. I will hire a house cleaner. During FIRE I discovered that it wasn't just stress that made me hate cleaning. I hate it for real.
And, I'll FIRE again whenever I'm ready. I won't let myself get back to where I was before- I'm a much better person, wife and mom now.
Post by: LightTripper on April 20, 2022, 11:02:38 AM
Post by: LD_TAndK on May 01, 2022, 09:00:03 AM
I hardly look at my finances anymore. I have a generally rosy optimistic outlook on everything. Top notch, 10 out of 10, do recommend.
Post by: 2Birds1Stone on May 03, 2022, 10:46:17 AM
https://forum.mrmoneymustache.com/welcome-to-the-forum/did-the-great-resignation-class-of-21-22-just-pick-the-worst-time-to-retire/
;)
Post by: Rubyvroom on May 06, 2022, 03:02:56 PM
Obvs would be great if markets would stop taking a shit but life is good, I can't complain.
Post by: Fru-Gal on May 07, 2022, 01:56:53 PM
Post by: dblaace on May 07, 2022, 06:02:22 PM
That's so funny, I wonder how many of us are going to be pursued by our former employers this year? Does it take 4-6 months for them to realize we're not so replaceable after all?
I've been back on a consulting basis, 10-20 hours a month sine Feb. Eight hours today and twelve hours far this month. It has covered my spending pretty much.
Post by: Arbitrage on May 09, 2022, 10:26:14 AM
It's good not to need to withdraw anything, as well as to keep saving/investing. Sure, we're not investing anywhere near as much as we were before RE, but we're still managing to max out employer accounts.
Post by: Fru-Gal on May 09, 2022, 04:03:55 PM
Post by: Peter Parker on May 10, 2022, 01:42:25 PM
Before retiring we hired a for-fee financial advisor to help us to decide whether to take a lump sum payment or pension. We told them all of our hopes and dream in retirement and they ran a number of "monte carlo" scenarios to see which option would best suit our retirement desires...I always thought we'd take the lump sum, but the various models showed we would have a much better chance (99%) of doing everything we hoped, if we took the pension. The pension was the better scenario for us, even if one of our pensions went belly-up...And so we made the decision to go with the pension--and I'm so glad we did in this market.
That is not to say, the market downturn hasn't been concerning--We have delayed some withdrawals from our deferred comp, hoping that the market will recover. But as of now, we are still doing everything we hoped.
Here's to hoping everyone can find some peace in this volatile market. But have faith in your plan...history tells us what to expect.
Post by: ScreamingHeadGuy on May 27, 2022, 09:11:33 PM
After a few weeks of binging on sleep and reading fantasy novels I soon settled into a nice routine.
The first thing about retirement - I feel like I'm SO BUSY. In fact, I often feel 2FB (Too Fricking Busy). But it's a life filled with activities that I choose to fill it with, rather than some arbitrary-busy-work-with-a-deadline BS from an external source.
What's different (and better) from pre-FIRE? Well let's just do a bullet-list (because I'm 2FB to create a long narrative about all this stuff). You'll see it's mostly based on utilizing my time in a more self-defining or relationship-affirming way.
-Way more volunteer time at church. I'm now a catechist, on a second committee, serve hospitality (coffee and donuts) on Sundays, and am just all-around available to help out.
-More involved in local governance. I've increased the time I spend on steering committees and time spent advocating for local issues with state legislators (or trying to - feels like beating my head against an ideological wall most times).
-More time for family. Helping daughter with schoolwork. Reading, watching shows (mostly PBS - Nature and Nova are fascinating to the girl), and just chatting with the family is a good way to spend the evenings (those few when the wife or daughter aren't busy).
-I'm the household-manager now. I do errands, plan the menu and cook the meals (although the wife usually does one supper per week), etc. It's nice to make lists and plans to try and achieve "maximum efficiency" with housework - makes it a challenge rather than drudgery.
-Way more time to exercise. I can regularly spend 2.5 hours a day between cardio and light strength training. My body is way more toned.
-Catching-up on old video games I'd been accumulating. My list still has nine titles I've owned for a while (some need to use DOSBox to run - yeah I've been a bad gamer) that I still want to finish. It was my hope to play all the current games in my collection before I bought a new computer and tried some new titles, but then my 9-year-old system's power source went and I took that as a sign to just spend some money and by a new tower - and I'm not regretting it for the increased speed and graphics capabilities.
-Naps are awesome! Seriously why do we, as a species, ever go through the "I don't want to take a nap" phase as 3-4 year-olds and then ruin this experience for the next 40-60 years of our lives?
What's worse?
-On a routine basis - nothing.
-Our plan to host a foreign exchange student for the 21/22 school year didn't pan out; that kind of thing can happen when you bring someone from a totally different culture and background into your family. Still we're going to give it another shot for 22/23 (and hope for an experience closer to our 19/20 student).
What's the same?
-The dog. She still insists on sleeping in my bed, and on top of me when I try to nap in the recliner. I'm still her primary caretaker (even though it was the wife and daughter who wanted it...). Dog still reacts with wild abandon when the wife gets home, and does nothing when I do. She still loves taking walks, but hates having her harness put on.
Finances
When I FIRE'd my stache was at 34x spending and as of March (2FB and I just didn't want to run the April numbers) it was at 38x. My wife took a big corporate job right as I was FIRE'ing and that lasted about 6 months before she FU'd out of there and took an AmeriCorps position - so her income, plus the little bit I get from my government service, tax refunds, gifts, and cash withdrawals (see below) has meant we've mostly left the stache alone to do its thing so far (we did use some dividends and some capital gains from one of our individual stocks which I'm trying to reduce exposure to).
We'd also had 2.5 years' worth of spending in cash - because I knew there'd be some big expenses coming up soon. After replacing our roof, fence, and siding we're now down to just about 2 years' expenses in cash. I anticipate this ratio will go lower by the end of this calendar year.
Regarding spending - our 2021 numbers came pretty close to the anticipated budget (the categories for travel, home improvement, and car replacement were WAY off - but those categories were always meant to be a wild guess where some years would be high figures and other years nothing). Our "core" spending was about $29k and, with home improvements, the total was just shy of $41k.
Now that's about all I've got to say about that. Hope everybody has a nice summer of FIRE.
Post by: Fru-Gal on May 27, 2022, 09:21:26 PM
Post by: Malee55 on May 28, 2022, 04:44:34 PM
My dad always used to go on about how he did not know how he fitted in work and now I can see why. I have found so many other things I want to do. I can help a family member with moving, I am visiting people I have not seen in many years and enjoying simply not working.
Post by: LightTripper on May 30, 2022, 07:25:03 AM
Post by: Much Fishing to Do on May 30, 2022, 11:00:03 AM
Post by: Aethonan on May 30, 2022, 06:24:46 PM
All that is to say, another 2021 class story supporting the flex-FIRE approach ;)
Post by: Peter Parker on June 08, 2022, 10:33:00 AM
Instead, I will be traveling in Vietnam, Laos, and Cambodia. I think that will be imminently more enjoyable :-). FIRE > Working
Post by: Malee55 on June 08, 2022, 03:42:02 PM
Post by: FireLane on June 08, 2022, 05:17:46 PM
Just got a call from my old job, asking that I fill in for an employee that will be out for 6-8 months on medical leave. Could have made my old salary for that time....The money lure was tempting, but I thought about whether the money was something I "needed." I kept asking myself whether I have "enough" already? The answer was always "yes" and I told my old boss, "Thanks, but no thanks."
Instead, I will be traveling in Vietnam, Laos, and Cambodia. I think that will be imminently more enjoyable :-). FIRE > Working
Badass! It feels awesome to be in a position to not need more money.
Post by: LightTripper on June 09, 2022, 03:07:43 AM
There is stuff going on at my work at the moment that could really make the firm a better place to work (practically, culturally, emotionally) and yet nobody is really picking it up and running with it - and it's so tempting to have a go at doing that, at least just over the summer to get things moving - and I have to just keep reminding myself that this makes NO SENSE and that somebody needs to do it who actually is going to have a long-term interest in the firm and the people there and keeping momentum behind the project or it would just fall apart when I left anyway. But it's very hard when you're so used to looking for opportunities to help and jumping in to just say "pass - that one is for somebody else now".
Post by: JoJo on June 17, 2022, 10:46:38 AM
I'm "homeless" and traveling indefinitely. Did all my travel in the US and mexico in my van, spent a few months with family. Spent significant time in CO, TX, NM, AZ, CA, MI, and Baja. Also a road trip down the Mississippi River.
Expenses were way under what I expected. I've given myself a budget of $100 a day, or $36,500 for the year. Total expenses came in at'... $16.068!
I don't feel like I missed out on much, did some amazing things - great hikes, a via ferrata, whale watching (I kissed a whale), swimming with seals, lots of time in pools, hot springs, and much more! Got to the ABQ balloon festival and went to several sessions, which was on my bucket list.
Post by: Dreamer40 on June 17, 2022, 02:50:22 PM
My latest time-sucking activity is dipping back into foreign language study. I found so many YouTubers and other resources about language acquisition. Modern methods are a lot more fun and effective than the way I first started learning these things in primary school! I’m focusing heavily on French right now and making breakthroughs. I booked a trip to France for September. When I get back, I want to start something new. Probably Italian, unless something else really grabs me before then. The Greek alphabet also looks fascinating. Thai would be an adventure. I feel really grateful for the time I have to pursue these kinds of things.
Post by: Ozlady on June 17, 2022, 08:48:53 PM
Since then, have been cobbled by Covid and stuck in Sydney..but guess what ?
We are booked to go to Europe for 7 weeks in August AND 8 weeks early 2023 to South East Asia..
No fixed plans to travel...kinda meander each country and see what tickles our fancy!
We can do this because guess what! we are RETIRED! woo hoo!
Post by: NoVa on June 30, 2022, 01:00:49 PM
I read a lot more, and some of the things I read I would never have tackled while working, such as The Last Lion by William Manchester, a trilogy, each book is 900 pages.
Would I go back to work? No. Would I go back if they offered double pay? No. Waking up every day and having total freedom to decide what I will be doing is more important than a few extra dollars I probably will never spend. I had enough cash on hand to not have to use my 401k or anything else yet, so while I do look at the stock market it isn't really impacting me. I was more into reducing expenses, so the market would have to crash before I am affected.
Post by: LightTripper on June 30, 2022, 03:30:03 PM
Post by: FireLane on July 26, 2022, 11:41:30 AM
I've been reading more books, exercising more, cooking interesting recipes, and working in my garden. I've taken my son to zoos and museums in Manhattan, hiked to scenic spots and strolled through landscape gardens in the Hudson Valley, walked along the beach to see old shipwrecks on Long Island, and stargazed at the Custer Observatory. I spent a week in the Delaware Water Gap last summer and another one in Acadia National Park in July.
I wrote more reflections in my journal (https://forum.mrmoneymustache.com/journals/maybe-we'll-make-it-after-all/msg3040135/#msg3040135) for anyone who's interested!
Post by: LightTripper on July 28, 2022, 04:57:38 PM
Post by: lifeisshort123 on July 28, 2022, 06:55:32 PM
Post by: WildJager on August 01, 2022, 10:36:33 PM
I had a lot of built up leave (PTO) that I used, so I haven't been doing any real work since April, but there has been something freeing about actually being off the books since my final out mid July. Random text messages or phone calls no longer leave me with a sinking sense of dread, and waking up with the sun has become the norm. Cooking good food has been a hobby of mine after eating too many MREs over the years, so being able to meander daily on my bike to the market and get fresh ingredients every day to leisurely prepare has been downright pleasant. I fill my time with various hobbies and gardening for more cost effective herbs (and yes, catching up on Netflix... sue me. After not watching much TV for over 10 years there's a LOT of entertainment out there.) I'm interested in the more professional side of the culinary world, so to fill social needs I've been able to dedicate more time to cooking at a local soup kitchen which has helped me learn a lot about that crazy industry. I have the knife skills, but I've learned that I really need to brush up on my Spanish. If I start to get restless, the plan is to use my GI Bill to go to the Culinary Institute of America, or maybe even the Cordon Bleu if I'm feeling froggy and want to try out France. What's not to like about getting paid to learn?
I've gotten a lot of questions from friends and family about "What's next?" In the past leading up to this point, the answer was always a bit cagey. After repeated questioning that started to annoy me, my answer has been, "Nothing." Despite any and all attempts to explain the plan and the point of it, and asking for zero assistance from anyone, you're still labeled the same as the vagrant uncle who spent their entire adult life bumming from family household to household. What I've found fascinating and succinctly poignant is that while there are plenty of people who know how to accumulate wealth, most don't know how to calculate how much is enough and when it's time to drawdown wealth. For reference, I'm at 50x expenses and 2% WR. I'm feeling comfortable with my independence.
I'll definitely miss some of the people and interesting things I was afforded to do. But, as a great poet once put it, "It's been a hell of a ride, but I'm thinking it's time to go."
Bang. July 15 2022
Post by: EscapeVelocity2020 on August 02, 2022, 08:43:51 AM
...
I've gotten a lot of questions from friends and family about "What's next?" In the past leading up to this point, the answer was always a bit cagey. After repeated questioning that started to annoy me, my answer has been, "Nothing." Despite any and all attempts to explain the plan and the point of it, and asking for zero assistance from anyone, you're still labeled the same as the vagrant uncle who spent their entire adult life bumming from family household to household.
...
You nailed one of the reasons why I haven't hung up the protractor yet... Does there really HAVE to be a next? Just because I'm in my 40's and fit as a fiddle doesn't mean I need to contribute to this mess the US calls an economy! I'm not going to ask anyone for money, so what's wrong with watching Netflix for a few months...
Post by: wageslave23 on August 02, 2022, 10:52:50 AM
...
I've gotten a lot of questions from friends and family about "What's next?" In the past leading up to this point, the answer was always a bit cagey. After repeated questioning that started to annoy me, my answer has been, "Nothing." Despite any and all attempts to explain the plan and the point of it, and asking for zero assistance from anyone, you're still labeled the same as the vagrant uncle who spent their entire adult life bumming from family household to household.
...
You nailed one of the reasons why I haven't hung up the protractor yet... Does there really HAVE to be a next? Just because I'm in my 40's and fit as a fiddle doesn't mean I need to contribute to this mess the US calls an economy! I'm not going to ask anyone for money, so what's wrong with watching Netflix for a few months...
I think a lot of people don't have the intelligence and creativity or lack an inquisitive mind in order to keep themselves amused without the formal structure of a job or school.
8 hrs sleeping
2.5 hrs eating or preparing
1 hr reading the news
1 hr reading a novel
1.5 hr exercise
2 hrs playing with kids
1 hr honey do list/chores
.5 hr nap
2 hr alone time with spouse
2 hrs socializing with friends or family
That leaves a half hour that I would be bored out of my mind ;) Not much time for work or some grand life project.
Post by: EscapeVelocity2020 on August 02, 2022, 01:21:43 PM
...
I've gotten a lot of questions from friends and family about "What's next?" In the past leading up to this point, the answer was always a bit cagey. After repeated questioning that started to annoy me, my answer has been, "Nothing." Despite any and all attempts to explain the plan and the point of it, and asking for zero assistance from anyone, you're still labeled the same as the vagrant uncle who spent their entire adult life bumming from family household to household.
...
You nailed one of the reasons why I haven't hung up the protractor yet... Does there really HAVE to be a next? Just because I'm in my 40's and fit as a fiddle doesn't mean I need to contribute to this mess the US calls an economy! I'm not going to ask anyone for money, so what's wrong with watching Netflix for a few months...
I think a lot of people don't have the intelligence and creativity or lack an inquisitive mind in order to keep themselves amused without the formal structure of a job or school.
...
That leaves a half hour that I would be bored out of my mind ;) Not much time for work or some grand life project.
I think a lot of people also have snarky co-workers that accuse them of lacking intelligence and creativity LOL
Post by: Fru-Gal on August 02, 2022, 01:21:50 PM
Quote
What I've found fascinating and succinctly poignant is that while there are plenty of people who know how to accumulate wealth, most don't know how to calculate how much is enough and when it's time to drawdown wealth.
AMEN! We will run out of time before we run out of money.
Nice report!
Post by: Ladychips on August 24, 2022, 12:31:52 PM
Post by: Fru-Gal on August 24, 2022, 12:40:42 PM
Post by: EscapeVelocity2020 on August 24, 2022, 12:46:37 PM
I don't know if y'all read the other cohorts, but I read several. OMG y'all, the 2019 cohort has gone back to work. Please Lord, don't let that happen to us!!
I wonder if the 2023 cohort will be posting this two years from now... Looks like I'll be in the 2024 cohort, so I'm keeping an eye on all y'all.
Post by: Ladychips on August 24, 2022, 01:37:04 PM
I'm old enough to know never say never. But I really hope when you check in, I won't be working!
Post by: Malee55 on August 24, 2022, 04:26:42 PM
Post by: Rubyvroom on August 24, 2022, 08:05:31 PM
I don't know if y'all read the other cohorts, but I read several. OMG y'all, the 2019 cohort has gone back to work. Please Lord, don't let that happen to us!!
I just got done checking in there too. Surprised to see so many went back after more than a few years. I figured after a few years in, most would feel secure in their finances and routine.
I quit mid December 2021 and just went back to my former employer this week. I had 7.5 glorious months off but was constantly worried about running out of money (with stats to back it up - it's not a great jump-off year to lean-ish-FIRE).
I'm consulting for a 125% pay increase over my former employee wage, I work only 32 hours per week fully remote, I am doing whatever the "quiet quitting" crap is (meaning I don't have email on my phone, I log off at 5pm, I don't accept meetings on my days off, etc, you know so normal work expectations that don't encroach on your life), and I still kind of regret it.
Over retirement we built up our homestead and we have 75 chickens right now, and this morning it was already 8am and I was enjoying my chicken chores thinking, aw crap I have to eat breakfast and like, show up at some point. You mean I can't just sip my coffee real slow like and hang out with my chickens for as long as I want anymore?! Dumb I know, but it's just having someone else's expectations take priority over your time which causes interruptions in enjoyment and blaaaaaah.
It's short-term. I will maintain balance. It's not my circus. I will accept a fountain of cash while I fix all the shit they broke after I left, and walk away again untethered and without regret. I will get my glorious time back. But for now, it's nearly bedtime, because it's a SCHOOL NIGHT blaaaaaaah.
Post by: dblaace on August 25, 2022, 07:54:46 AM
It would be nice to spend the summer in Denver vs Texas!
I've done some consulting work but no more than 20 hrs in a month. It has covered most of my expenses.
Post by: Arbitrage on August 31, 2022, 10:03:27 AM
Had you asked me in mid-2021 if I'd be happy working until late 2023...I might've hedged. However, with the current bear-ish market I've got no problem continuing to work part-time. It's really not a bad gig. I'd hoped for some portfolio progress during the past year that obviously hasn't happened, so the budget would still be tighter than I'm comfortable with with no income from work.
Post by: Peter Parker on September 02, 2022, 07:03:06 AM
I don't know if y'all read the other cohorts, but I read several. OMG y'all, the 2019 cohort has gone back to work. Please Lord, don't let that happen to us!!
This year we did some Covid-Catch-up trips--Went to Greece (Sailed around the Islands with some Friends) and are now going to Spain/France. In between we went to South Carolina and Colorado. I can't imagine giving all this up to return to work...I have a finite amount of years left (knock on wood that it will be many). I want to spend that time doing things that a fulfill me and my S.O.
In addition to travel, I have taken care of some house needs and tried to expand my hobby interests. I don't know when I would have time to actually work, even if I wanted :-)
There are times, when my wife and I are having coffee in the morning, when we literally start laughing and say we are glad we don't have to work!
That being said, I guess you can never say never. However, I just don't see it happening--at least not for me.
I hope all of you are finding you have "enough" and are finding fulfilling ways to spend your time!
Post by: LightTripper on September 06, 2022, 04:30:06 PM
Post by: JoJo on December 12, 2022, 07:43:47 PM
One year update for me -
I'm "homeless" and traveling indefinitely. Did all my travel in the US and mexico in my van, spent a few months with family. Spent significant time in CO, TX, NM, AZ, CA, MI, and Baja. Also a road trip down the Mississippi River.
Expenses were way under what I expected. I've given myself a budget of $100 a day, or $36,500 for the year. Total expenses came in at'... $16.068!
I don't feel like I missed out on much, did some amazing things - great hikes, a via ferrata, whale watching (I kissed a whale), swimming with seals, lots of time in pools, hot springs, and much more! Got to the ABQ balloon festival and went to several sessions, which was on my bucket list.
18 month update...
In the last 6 months, spent time with family. Went to Europe, visited NW Italy, Andorra, Barcelona, hiked 500 miles of the Camino de Santiago, NW Spain, Portugal and Gibraltar. Then crossed to Morocco and visited lots of old towns, did some hiking and rode camel in the Sahara.
Total expenses after 18 months $28,265, or around $1570 per month. I expect my 2023 expenses will be higher, there's some exotic travel I'd like to do - possibly Indian subcontinent.
Post by: Ladychips on December 12, 2022, 08:03:14 PM
@spartana is looking to do some similar European travel. I think she'll be interested in your update!
Post by: treffpunkt on December 12, 2022, 08:05:51 PM
One year update for me -
I'm "homeless" and traveling indefinitely. Did all my travel in the US and mexico in my van, spent a few months with family. Spent significant time in CO, TX, NM, AZ, CA, MI, and Baja. Also a road trip down the Mississippi River.
Expenses were way under what I expected. I've given myself a budget of $100 a day, or $36,500 for the year. Total expenses came in at'... $16.068!
I don't feel like I missed out on much, did some amazing things - great hikes, a via ferrata, whale watching (I kissed a whale), swimming with seals, lots of time in pools, hot springs, and much more! Got to the ABQ balloon festival and went to several sessions, which was on my bucket list.
18 month update...
In the last 6 months, spent time with family. Went to Europe, visited NW Italy, Andorra, Barcelona, hiked 500 miles of the Camino de Santiago, NW Spain, Portugal and Gibraltar. Then crossed to Morocco and visited lots of old towns, did some hiking and rode camel in the Sahara.
Total expenses after 18 months $28,265, or around $1570 per month. I expect my 2023 expenses will be higher, there's some exotic travel I'd like to do - possibly Indian subcontinent.
What kind of accommodation did you use in Europe?
Post by: JoJo on December 13, 2022, 06:08:06 AM
I had a couple "splurges":
* an airbnb overlooking the ocean in Cinque Terre in a winery, included breakfast and dinner was $150/night for 2 people, stayed 2 nights.
* after my camino, the weather wasn't so great, I found an apartment on the beach for $39 a night, stayed 3 nigths.
* we had a really nice apartment in Lisbon, had 3 bathrooms! I think that was at least $200/night but was split 4 ways.
* In Morocco, we stayed in several Riads, old buildings with gardens or pools in the middle, stained glass, etc. Morocco was quite cheap for everything.
Post by: Dreamer40 on December 13, 2022, 02:27:31 PM
I think I want to start something new in 2023 but don’t know what yet. Something that gets me out of the house regularly. And doesn’t require much of a commitment. I got a little bored of my 2022 outside-the-house projects.
Post by: Fru-Gal on December 13, 2022, 07:30:39 PM
Post by: ScreamingHeadGuy on January 30, 2023, 03:40:35 PM
Now it's close enough to the 2-year anniversary of my FIRE (just about a week late) that I'm giving another update. In general these past eight months have felt less busy than the first 16 months of FIRE did.
Life:
Nothing of earth-shattering import over the last year to report since the last update, but I'll write a little bit here anyways.
My video game "backlog" is almost finished and I expect to start on some "new" titles (meaning I haven't owned them already for years) sometime near the end of March.
Exchange student three has been here since August and is okay. (I guess our first student was a rock-star and we just didn't have any other experiences to appreciate her awesomeness.) I think the combination of being late, situationally oblivious (how can she get the peanut butter jar out, walk away to go to the bathroom, and just forget she was ever going to make a sandwich?), and poor money management skills (oh boy we've tried!) really take the luster off. But she is a really nice and sweet girl (though still nothing like how we're raising our daughter).
I've been doing even more volunteering in the community (thanks to the wife's involvement with our local shelter). Strange how I'm doing more volunteering but my life feels less busy.
Finances:
When I started FIRE my stache was 34x spending. Since then it's varied from 32x to 40x and is at 36x today.
In 2022 we made our first-, and big- (well it's big to me) IRA -> Roth IRA conversion. I don't think I broke anything, but we'll see after I've filed my taxes.
We are still using up cash savings in addition to our dividends/interest/small income. The cash buffer is now down to 1.8 years of spending (started FIRE at 2.5 and was at 2.0 last May). That's right - we spend 0.7 years worth of cash in our first two years of fire (guess our meager cash flow holds up pretty well).
I haven't actually gone over our 2022 spending yet. But we should have all the December expenses on our credit card bills by now and I suppose it's worth a few hours just to do a check-in.
Big Change:
At the end of October a few former co-workers/bosses (from Company D) had heard from a mutual acquaintance (who had been offering me a job ever since I'd FIRE'd) that I wasn't working and they'd started reaching out to me. Through many fits and starts the conversation progressed until, just today, I got a verbal offer for a fully-remote part-time job. No resume needed and no references (aside from the above formers who'd apparently spoken so highly of me) - it really does seem to be easier to find work when you don't need (or particularly want) it.
I'm pretty sure I'll take the gig, since I can fund our family's lifestyle on a mere 800 hours/year (and that'll let us push more of our cash into IRAs since we'll have higher "earned income"). Maybe it'll be a pleasant experience to use my professional training again, in small doses.
The drawbacks are: I'm giving-up 16-20 hours/week most weeks of the year and I'll have fallen off the FIRE wagon after only two years. But hey - I can always quit.
Post by: JoJo on January 30, 2023, 05:34:51 PM
Post by: Fru-Gal on January 30, 2023, 08:54:00 PM
Post by: LightTripper on January 31, 2023, 03:59:16 AM
Post by: Arbitrage on January 31, 2023, 10:23:25 AM
I went coast-FIRE/part-time in 2021, with an eye toward late 2022 as possible full retirement date. At our staff meeting today, it sounds like the late 2022 date won't be necessary (i.e. my employment will continue to be funded for another year without needing to scrounge for business), and late 2023 might be a reasonable target, but that could certainly push out if I find additional opportunities.
Had you asked me in mid-2021 if I'd be happy working until late 2023...I might've hedged. However, with the current bear-ish market I've got no problem continuing to work part-time. It's really not a bad gig. I'd hoped for some portfolio progress during the past year that obviously hasn't happened, so the budget would still be tighter than I'm comfortable with with no income from work.
18 months in -
Still Coast-FI/part-time with no immediate exit plans. Late 2023 remains a possibility for full separation from the job, but we'll see how the funding situation goes. However, DW's company is on life support. Maybe they can make it through this roughest of rough patches, but it doesn't look good. If her job ends, she'll likely be unemployed for a while and look for another part-time, remote gig.
Zero regrets about the decision to move and go part-time. Loving the new city and lifestyle. Kids are basically fully settled now and overall doing better than before the move. Disappointed that our best friends won't visit us and always expect us to travel to them, but that revelation wouldn't have changed the decision.
Post by: goat_music_generator on January 31, 2023, 06:51:46 PM
Post by: LD_TAndK on March 10, 2023, 06:11:49 AM
Now I'm volunteering about 20 hours a week. Engaged 100% of the time. I wake up excited to go volunteer. I love seeing my co-volunteers because we all care about each other and have a common goal. We're all excited and delighted when circumstances require we go above and beyond. At my old job, anything above and beyond would breed resentment.
Anyways, I feel like doing things you actually care about is a way better way to live.
Post by: skyrefuge on March 12, 2023, 12:02:08 AM
My wife and I gave ourselves a 6-month window in which to try out a “normal” retired life, before transitioning to a nomadic life on our bicycles. The first few months were pretty idyllic and close to what I imagined. I hadn’t been very wound up with work, so it took almost no time to wind down. We paid almost no attention to the day of the week, but quickly learned to live life in reverse: if it’s the weekend, stay home! And instead go out on the weekdays to explore the nearly empty trails all over the Cascades, or on long bike rides (applies to more mundane things like grocery shopping too!) With COVID vaccines available, we finally had friends and family come to visit us in Washington, and made several trips to meet with family in various beautiful places.
Then, 4 months in, the bliss was shattered. My wife’s mom, who was due to join us soon in Washington to help clear out and pack up all of our stuff in preparation for our nomadacy, called with crushing news: a cancer diagnosis. Like a true loving mother, her unselfish and sweetly-idiotic concern was mainly about our plans being disrupted. Of course we weren’t having any of that nonsense, and my wife decided to immediately move to New Mexico to be there to support her through treatment. We planned that I’d follow in a month or so, once I closed out the rest of our household. Instead of “messing up” the early days of our retirement, I saw it as the exact (but unpredicted) reason for our retirement. What higher use of our freedom could there be than caring for loved ones in need?
But, cancer, the indefatigable bitch, was naturally determined to take as much advantage of that freedom as it possibly could. It immediately put my mother-in-law into the ICU, which pulled me down to New Mexico just a day or two after my wife arrived, so that I would be there to support her in supporting her mom. Within a week, we were bringing mom home to die. There, my wife and I spent the next week as mom’s 24/7 caregivers, doing some of the hardest work we’ve ever done, work that was painful and numbing, but also incredibly intimate and more-rewarding than any work I ever did in my career.
After she died, we stayed on for a couple more weeks to handle her affairs.
To not have to give a single fuck about our jobs during this terrible month-long period was a tremendous gift. I can't imagine how we could have done it if we were still employed. I know we would have somehow (people do it all the time), but I can't imagine how. Just four months into early retirement, the “disadvantages” of two decades of “scrimping and saving” were repaid in full, and any enjoyment we’d get out of retirement from that point forward would be a bonus.
In the end, mom went so quickly, that there never ended up being any “move” to New Mexico, and we found ourselves back in Washington with time to start our bike tour roughly as planned, if we wanted to. Pissed at her for finding a loophole in her quest to “not disrupt our plans”, and doubting whether it was still the right choice, we went for it and became nomads on the autumn equinox of 2021. What possessions we could not fit on our bicycles sit in our 10ft. x 10ft. storage unit.
(https://tpom.com/img/mmm/IMG_8723_2.JPEG) (https://neilandrett.com/2022/02/13/san-diego-ca-to-san-ysidro-ca/)
Halfway down the Pacific Coast, I met up with some former colleagues in Silicon Valley. The night before, as I pre-wrote some conversation topics in my head, I was mildly shocked to discover that my brain had completely flushed every work-related technical topic from my memory. Like, gone. And gone for a long time already. I mean, I had always been pretty sure that my retirement would stick, with no backsliding, but I had no idea that my subconscious was equally on-board. Or, even more on-board: “man, on the rare chance this guy ever decides he wants to go back to work, that would really suck, so let’s burn down that bridge and make it impossible for him even if he wanted to!”
We took three months to get from Seattle to Southern California, wintered for three months in Baja, took two months in spring/summer 2022 to ride from Chicago to Maine while staying with family in between, and then two months meandering the Maritime provinces of Canada.
(https://tpom.com/img/mmm/IMG_6037_3.JPG) (https://neilandrett.com/2021/10/23/leggett-ca-to-westport-ca/)
(https://tpom.com/img/mmm/IMG_8277_2.JPG) (https://neilandrett.com/2022/03/02/catavina-bc-to-chapala-bc/)
(https://tpom.com/img/mmm/IMG_9386_2.JPG) (https://neilandrett.com/2022/03/21/mulege-bcs-to-playa-santispac-bcs/)
By that point, a year into our nomadacy, riding away from her grief had stopped “working” for my wife, and brought our movement to a halt. Literally: her brain began telling her body that it no longer knew how to balance on a bike, and she lost the ability to start. So instead of spending winter 2022/2023 in New Zealand as planned, we decided to shut down the biking for six months, get in some long term visits with family, and then time on our own back in Washington. Once again, having the flexibility to say “this life isn’t working at the moment, let’s change it up” is tremendously valuable. We plan to restart travel in April in the US, then do New Zealand for next winter.
Broadly, I’m not sure if I’m any happier in retirement than I was before. That’s not too surprising given the homeostasis of happiness (and the fact that my job didn’t make me unhappy). And it’s also difficult to disentangle the effects of my wife’s grief from the effects of our retirement. While our chosen lifestyle definitely produces a lot of Instagram-worthy highs, it also comes with a lot of stresses, many due to the complete absence of the routines and predictability that accompany a more-settled life. Essentially there is a much higher day-to-day variance in happiness-level than before, but since the average remains largely the same, I think that’s a win. One of the most delightful discoveries recently was when news of sweeping layoffs in tech surfaced; my habitual chest-tightening reflex reaction was to think “oh, shit, is this going to affect me?”, but this time that quickly got replaced with the realization that I never need to worry about my life being derailed by the semi-random whims of an employer ever again! Ahhhhh….glorious!
Ok, money. We’re some of the least-Mustachian bicycle-based nomads out there. We do far more hotel/AirBNB stays and other pampering than most people living a similar lifestyle. Beyond our inherent wussiness, probably the biggest reason is that most people living this life don’t have the financial resources that we do. But I’m also aware that living less-pampered would likely shorten the duration that we’d continue to enjoy this lifestyle, so it’s a tradeoff. Our expenses are highly-variable (we’ve stayed in Maine campgrounds that cost 3 times what a Baja hotel cost) but it seems to have averaged out to about $70k/year. That’s about a 2% WR (of our retirement day NW). We don’t own any real-estate, which, on one hand, simplifies the calculation (all our “housing” expenses are quite transparent, and unlike MMM’s calculation, included in that WR). But since we likely will want to purchase a home at some point, it makes it difficult to know if we “really” have a 2% withdrawal rate right now.
In summary, retirement hasn’t precisely followed my expectations thus far, but that’s probably a good thing, and I definitely have no regrets!
We're going to start rolling again in about a month, we always love when people follow along on Instagram (http://www.instagram.com/neilandrett), or you can read the novel's-worth of words I've written already at https://www.neilandrett.com (if you thought this post was long...!)
(https://tpom.com/img/mmm/IMG_9432_2.JPG) (https://neilandrett.com/2022/03/22/playa-santispac-bcs/)
whale watching (I kissed a whale), swimming with seals
haha, sounds familiar @JoJo ! Are you one of the people I talked about FIRE with at Ojo de Liebre?! (ok, I didn't actually kiss a whale, but my wife did (https://neilandrett.com/2022/03/07/guerrero-negro-bcs/)! It was literally the entire reason we went to Baja!)
Post by: Fru-Gal on March 12, 2023, 01:50:47 AM
I also know the “not happier” feeling… I do think once you thoroughly explore/exercise the feeling of complete freedom from work and financial stress, you may find yourself facing a new search for purpose, projects, etc. At least I am. But life is definitely better than before FIRE. Definitely.
And the purging of the professional knowledge from my brain happened to me too! I mean, it’s buried in there, but at least I have clarity that of all the things I could pursue in the future, that door my brain has easily closed.
Post by: JoJo on March 14, 2023, 12:30:45 PM
My winter was good, spent a bit over a month bopping between Yuma, Quartzsite, and Lake Havasu, hanging out with camping friends and attending a "bash" of other RV nomads. Nearing the end of my 2 month stay in a California RV resort where I dry camp in my minivan. Spend the day doing lots of activities, fitness, reading, and an ocassional trip off campus. Heading north on April 1. Expenses extremely low this last 3 months, probably around $1100-1200 per month, all included.
Wasn't sure what my taxes would be this year since 2021 was a big year with pay, bonus, and pension... had too pay in quite a bit ... found out my 2022 annual pension payment withheld way too much so a decent refund coming this year.
Post by: JoJo on June 02, 2023, 01:42:31 PM
On a side note, the cost of being elderly is shocking! Now have one parent in nursing home and the other moved to assisted living ~ around $15K/ mo. Hoping to have them both at assisted living, but lots of recovery first.
Post by: Ladychips on July 01, 2023, 05:53:27 AM
Two years today. I wake up grateful everyday. I'm slightly busier than I like but that's because I fill my days with either things I love to do or taking care of elderly parents. I'm not giving up either of those things so I'm satisfied being slightly busier than I want.
Net worth day was yesterday. We still aren't back to our starting amount (market drops are an entirely different ballgame when you are withdrawing instead of contributing), but we still have a ridiculous amount of money. So all good there.
Hope all is well with my 2021 Cohort friends!
Post by: Rubyvroom on August 01, 2023, 09:26:55 PM
I quit mid December 2021 and just went back to my former employer this week. I had 7.5 glorious months off but was constantly worried about running out of money (with stats to back it up - it's not a great jump-off year to lean-ish-FIRE).
JULY you beautiful month, I could kiss you. And with that we're back on track.
We're hopefully a tad wiser this time. We learned a lesson about leanish-FIREing with a homestead, a little ambition and a lot of time on our hands. I'm going for a bit of a cushion this time. But the end is in sight again finally and it feels fantastic. I don't ever want to hear the words "Deep Dive" or "Fast Follow" or "Lean In" again. Getting a taste of freedom and then landing back in the Corporate world is stupidly painful. Zero stars, not recommended. I should be done with these workplace shenanigans again by the end of the year. Then it's just you and me and a long winter, Zelda: Tears of the Kingdom.
Post by: JoJo on August 06, 2023, 08:18:19 PM
I know it sounds crazy, but we've been talking daily for over a month... video calls and chats, sending videos, etc. We seem quite compatible. After a month of training, day sails, and hanging out in Curacao (with rental car), two more people join and we will sail to some different islands. We plan to stay together until mid December, but I have back up plans if things don't work out.
Post by: jeroly on August 14, 2023, 03:49:22 PM
Big plans for me... still dealing with the elderly parent stuff but the work is letting up and I've taken some short regional trips. in mid September I'm getting on a sailboat with a stranger for 3 months!You miss 100% of the shots you don't take! Good luck.
I know it sounds crazy, but we've been talking daily for over a month... video calls and chats, sending videos, etc. We seem quite compatible. After a month of training, day sails, and hanging out in Curacao (with rental car), two more people join and we will sail to some different islands. We plan to stay together until mid December, but I have back up plans if things don't work out.
Post by: 12321 on January 29, 2024, 07:17:02 AM
I often load up this topic to see how everyone's doing, but since it's been so quiet thought I'd throw in my three cents (adjusted for inflation).
The stash has grown since 2021 and the fears of running out of money have slowly transformed into there's never enough time. The Rich Broke Dead calculator shows that even adding income later in life doesn't help if you're dead. Stop checking stock quotes and start going for walks in nature.
I also recently realized that I was lacking some of the structure and recognition I had when working. Those are internal things that I can rebuild through other outlets, but wound up being displaced onto the people in my life unintentionally. If you've got room in your budget for therapy or even time to look inward at why you feel certain ways or make certain choices, it can be incredibly illuminating. Small mental changes can lead to a far more enjoyable peace for you and those around you.
Hope you're all doing well and enjoying your limited time on this floating space rock!
Post by: Fru-Gal on January 29, 2024, 04:41:19 PM
Quote
Getting a taste of freedom and then landing back in the Corporate world is stupidly painful.
My old boss (who I liked a lot) just asked me to do some contract work. I thought about it. Who doesn’t want more money… BUT AT WHAT COST?!
“Let me know, let’s get rolling so I can introduce you to the team.” I said thanks, but I just didn’t have time. The truth is I can’t fake the motivation.
Post by: Morning Glory on January 29, 2024, 04:49:20 PM
QuoteGetting a taste of freedom and then landing back in the Corporate world is stupidly painful.
My old boss (who I liked a lot) just asked me to do some contract work. I thought about it. Who doesn’t want more money… BUT AT WHAT COST?!
“Let me know, let’s get rolling so I can introduce you to the team.” I said thanks, but I just didn’t have time. The truth is I can’t fake the motivation.
I have had old coworkers reach out to me on Facebook to try and get me to come back supplemental so I can cover their vacations. Sorry, moved too far away.
Post by: ScreamingHeadGuy on January 30, 2024, 07:37:26 PM
At the end of October a few former co-workers/bosses (from Company D) had heard from a mutual acquaintance (who had been offering me a job ever since I'd FIRE'd) that I wasn't working and they'd started reaching out to me. Through many fits and starts the conversation progressed until, just today, I got a verbal offer for a fully-remote part-time job. No resume needed and no references (aside from the above formers who'd apparently spoken so highly of me) - it really does seem to be easier to find work when you don't need (or particularly want) it.
I'm pretty sure I'll take the gig, since I can fund our family's lifestyle on a mere 800 hours/year (and that'll let us push more of our cash into IRAs since we'll have higher "earned income"). Maybe it'll be a pleasant experience to use my professional training again, in small doses.
The drawbacks are: I'm giving-up 16-20 hours/week most weeks of the year and I'll have fallen off the FIRE wagon after only two years. But hey - I can always quit.
This section of my last update didn't age well, except that last sentence. I was hired and started working in March of 2023. It went well for two or three months, but then just turned into mind-numbing busywork and poor utilization (permit applications, writing reports, actually doing some design on a project just to have it given to another employee). Any semblance of work stopped in July, but I kept checking-in weekly until the end of December when I just wrote my "Dear John" letter and turned-in all the company-issued equipment. I'd hazard that my part-time nature probably made it hard for management wrap their heads around how to utilize me and that just left me totally disengaged from the company, co-workers, and what little bit of (actual) work I did do. BUT - at least I got a free lunch out of it on my first day so the whole thing wasn't a complete loss (oh - and the pay was fine, too; really I shouldn't complain about doing paperwork for the rate they were paying me, but I was never doing this for the money so I will complain).
How else is life going? I'm even more involved in volunteering and local governance than I was previously. I played all the new videogames I'd wanted to and am now going back through old (some 1980s-old) games I'd played when I was young and didn't really know what I was doing; it's interesting to play those games now that I'm older and have a totally different mindset. We replaced the furnace and AC in our house, and re-did some duct work (which had an undersized cold-air return for new systems).
Finances are rolling along because 2023 was a kick-butt year for the broad market. Between the wife's income, dividends, interest, and my part-year/part-time job last year we nearly funded all our expenses!
Rock on for another year, 2021-ers!
Post by: 4tify on February 13, 2024, 06:47:12 AM
We've done a bunch of amazing travel up and down and across the planet. I've studied a foreign language and put it to the test on the ground, which was really gratifying. Read a ton of books, experimented with different modes of physical exercise, cooked some delightful meals, worked on my meditation practice, and done some very part time coaching/consulting to help others with their goals in an effort to give back a bit.
I can't say I have settled in completely to life post-work because there are still days when I feel disoriented and like I'm not doing "enough." Getting out of the worker bee headspace has proven to be a real challenge after a lifetime of overachieving, but I'm working on it! I don't regret leaving my job at all, and I'm grateful for every day of health and freedom. Still I'd like to find some way to challenge myself and keep growing. I just haven't found a point of motivation outside the hobbies. Some days I think I should just let that go and work on being in the moment.
Anyway, it's been a great ride and I hope all the other cohorts here are doing well.
Post by: Retire-Canada on February 13, 2024, 06:51:49 AM
Two year update for me here.
Thanks for the great update. I'm glad FIRE is going well for you.
Post by: MoneyTree on February 13, 2024, 11:54:38 AM
I've been SWAMI-ing for the past few years because I managed to switch my role to work 100% remotely. I have a ton of flexibility. I can have unrushed breakfast with the family, eat at home for lunch, and be home at a reasonable hour to spend time with the kids. I can even build in exercise time into my day.
The hardest part has been changing my attitude towards spending. I still have a hard time doing it. Even though I have the assets that can support my family AND the firehose of extra cash from my normal full time job, I still have to wrestle with spending money on non essentials. I'm convinced that it's not an issue of how much money we have. Even if you tripled my net worth, I know I would still have the same issues.
Wondering if others here have gone through this and how you have changed your perspective on spending.
Post by: 4tify on February 14, 2024, 07:50:24 AM
Nice to read these updates.
I've been SWAMI-ing for the past few years because I managed to switch my role to work 100% remotely. I have a ton of flexibility. I can have unrushed breakfast with the family, eat at home for lunch, and be home at a reasonable hour to spend time with the kids. I can even build in exercise time into my day.
The hardest part has been changing my attitude towards spending. I still have a hard time doing it. Even though I have the assets that can support my family AND the firehose of extra cash from my normal full time job, I still have to wrestle with spending money on non essentials. I'm convinced that it's not an issue of how much money we have. Even if you tripled my net worth, I know I would still have the same issues.
Wondering if others here have gone through this and how you have changed your perspective on spending.
I have also been working through this for the past two years since I left my job. The first year I had a month’s unused paid leave that landed in my account on day one of RE. Everything in me was screaming “you need to save/invest this!” But the sad thing was I never used the vacation time due to my obsessive work/earning features. So I deliberately spent all of it on travel, adventure, spa experiences, etc as an exercise in shifting my orientation and congratulating myself for a job well done reaching FI. And that was awesome 😎.
For the second year I deliberately funded my spending fund at a full 3.5%, which of course is more than I need because I saved so much. And I spend liberally on the things I love, which is mostly travel, so there are occasional splurges on better hotels or premium economy flights on long hauls etc. I have also started working with a personal trainer which isn’t cheap, but I see it as an investment in my health that I can afford (even though part of me cringes when I hand over the money lol).
So basically, I am forcing myself to spend. It’s not always easy but since it’s mostly for things I really enjoy it turns out to be well spent.
Post by: Retire-Canada on February 14, 2024, 08:24:49 AM
The hardest part has been changing my attitude towards spending. I still have a hard time doing it. Even though I have the assets that can support my family AND the firehose of extra cash from my normal full time job, I still have to wrestle with spending money on non essentials. I'm convinced that it's not an issue of how much money we have. Even if you tripled my net worth, I know I would still have the same issues.
Wondering if others here have gone through this and how you have changed your perspective on spending.
My spending pre and post FIRE has been pretty consistent. With so much free time I'm able to lower my baseline COL even further. OTOH I've spent more on luxury items like sports gear, season's pass at the local ski hill, etc... I don't budget/track spending closely, but looking back at the end of each year I seem to naturally trend to a similar level of overall spending.
My portfolio is higher than I need so in theory I could splash out on something expensive like a RV/travel van and we've thought about it a bunch, but haven't pulled the trigger. That said I'm not of the mind that will make us more happy. If I felt like spending more money would actually make me truly happier I would just do it. For the most part it would just be the same, but different if that makes any sense.
One thing I have been doing is knocking off bucket list items. That's the money spent on some sports gear, but mostly it's just spending time/energy focused on doing something. It doesn't actually cost a ton to learn a new skill or do something experiential. Of course having free time and being able to dedicate it on personal goals is a way of spending "wealth" in a sense. It just doesn't involve handing over a big stack of money to someone.
Post by: JoJo on March 05, 2024, 10:02:46 AM
As for 2023, my new worth increased by 10X what I spent... I gotta spend more. LOL.