Author Topic: 2022 FIRE cohort  (Read 195469 times)

dsw

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Re: 2022 FIRE cohort
« Reply #600 on: October 04, 2019, 02:33:01 PM »
Welcome Lluviata! Looks like you're at least on track for FI even if not RE.

So far as my status goes, I'm still pushing along. I managed a promotion at my job (to basically what I was already doing) and I continue to spend very little and save the rest. I'm currently just under 2/3rds toward my ideal state target (I've already passed my austerity numbers), which sounds like a long ways to go, but I'm saving at a rate that makes 2022 a realistic target.

Right now my guess is that there's around a 75% chance that I'm going to step away by some point in 2022. I'm constantly reassessing though and I could go another year if things don't look they way I want.

highlandterrier

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Re: 2022 FIRE cohort
« Reply #601 on: October 11, 2019, 10:55:26 AM »
So today marks 1000 days until I plan to FIRE, I've been looking forward to that milestone.

Currently sitting at 87.4% of desired net worth, much of it in property and pensions so have been concentrating on topping up the accessible stash lately.  I could afford to retire on my current savings if I fast-forwarded 3 years, so my allocation is now erring towards preservation rather than growth.

Have started setting up a bond tent - well, a series of 3 year fixed rate savings accounts maturing every 6 months or so. Plan to have these for the first few years at least so I'm not forced to sell equites if the market is down, and also defers the income tax until a time I won't be paying any. I could go earlier if markets do well or I get redundancy, but it would take something major to delay. But everyone has a plan until they are punched in the face,

Been working for mega-corp for over 20 years, seen a lot of change but the current changes are difficult to deal with. Much of our work got offshored over the years and majority of people in my role made redundant. Now the new set of bright spark managers want to bring work back onshore, without any proper handover, and without making up the staff numbers or skill gaps in the process, Because apparently it's all really easy. Lets call it agile and it will all just work. But there are good terms and conditions, I can frequently work from home, and working there has given me the opportunity to FIRE so a lot to be grateful for.

Beginning to seem real now, 33 pay cheques to go !

dsw

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Re: 2022 FIRE cohort
« Reply #602 on: October 11, 2019, 11:16:17 AM »
So today marks 1000 days until I plan to FIRE, I've been looking forward to that milestone.



That's a significant milestone, congrats! I still don't have my date pinned down, but by my estimate, I'm between a hair over 900 or a hair under a 1000 to go (thinking between 4/1 and 7/1/2022). If you go here, you can break it down by working days, which makes it look even better . . .

https://www.timeanddate.com/date/workdays.html?d1=11&m1=10&y1=2019&d2=1&m2=4&y2=2022&ti=on

I try not to look at that too often, but some days it helps.

highlandterrier

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Re: 2022 FIRE cohort
« Reply #603 on: October 11, 2019, 12:19:42 PM »
That's a handy little tool, next stop 500 working days :)

asauer

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Re: 2022 FIRE cohort
« Reply #604 on: October 17, 2019, 09:42:10 AM »
Jumping over here from the 2021 board.  I’ve decided to work an extra year in order to get my staff in a advantageous position and so they won’t be at the mercy of my incredibly incompetent boss.  I couldn’t sleep at night if I left them like that.  My hubs and I are at 800k and need 950 for me to bounce.  He wants to work for another 6 years which will give us the rest of our ‘stache

dsw

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Re: 2022 FIRE cohort
« Reply #605 on: October 18, 2019, 09:25:49 AM »
Jumping over here from the 2021 board.  I’ve decided to work an extra year in order to get my staff in a advantageous position and so they won’t be at the mercy of my incredibly incompetent boss.  I couldn’t sleep at night if I left them like that.  My hubs and I are at 800k and need 950 for me to bounce.  He wants to work for another 6 years which will give us the rest of our ‘stache

Welcome, asauer! That's very noble of you to think about your staff in your retirement plans (I am also working on getting my teams to a good place before I leave), but don't forget to think about yourself along the way. I work in a reasonably high turnover industry, so I expect that much of my team will find other jobs if things turn south after I leave. But if your staff are mostly lifers, I can see the motivation for wanting to make things good for them. Still, be careful about making yourself miserable in a situation that might wind up bad either way.

Either way, welcome to the 2022 board. We're glad you're here!

skip207

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Re: 2022 FIRE cohort
« Reply #606 on: October 21, 2019, 04:09:33 PM »
As 2019 starts to close I am looking at my data and still hoping for a late 2022 FIRE but I cant help but think with all the turmoil here (UK) that it might push over into 2023.  Bummer if that's the case but not the end of the world.  I don't think I will know for sure until we are actually in 2022...  so will hang here till then.

friedmmj

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Re: 2022 FIRE cohort
« Reply #607 on: October 21, 2019, 05:11:18 PM »
I'm currently straddling the 2022 and 2023 plans.  I am about 75% sure I will be done in June 2022.  If not, then one more year to 2023.  I currently have 71% of desired net worth saved not including money set aside for two kids' college costs.  I have all  my asset group glide paths mapped out across 401K, IRA, Taxable, Home Equity, etc. by year.  Today marks 596 more work days (hopefully)!

lollylegs

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Re: 2022 FIRE cohort
« Reply #608 on: October 23, 2019, 03:26:53 PM »
Just checking in as I'm really finding work tough at the moment. I'm living for the 2019/20 thread watching people finally make it to their retirement dates.

Our stash is almost at $500,000 with three years to go, so savings are going well. We'll be paying off the mortgage before we retire so will probably increase those payments next year. Most of our finances is automated now so I feel like I'm just plugging away.

 Work days left: 817  which does make it feel like less time to go.

I've been reading How to Retire Happy Wild & Free and its really made me realise how much of my identity is tied up in my work, which probably explains why I've found this year a bit difficult. I spent the last two years mentoring a couple of young professionals weekly and while it was a big commitment, it has been really satisfying to pass on some of my knowledge and just encourage them along. That is now ending and I am looking forward to having that time back, but it just reminds me its time for me to gracefully let go of my professional life. I also recently left several professional groups - its actually really reduced my stress.

So since reading the book I've done done quite a bit of research on what is available for me to do locally and have found some really good groups, classes and volunteering opportunities that I am quite excited about. I've joined mailing lists and now find myself wishing I was not working so I could get to some of these events. I'm quite sure now I will have plenty to do in retirement. I'm not some one who has participated in much that wasn't work related over my adult life ( unlike DH) so this is quite a change. Overall I'm feeling optimistic, just stuck in a job I no longer enjoy.

Financially we are looking on track. My next issue to address is health - no more putting off getting fit till I retire!

hows everyone else doing?

middo

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Re: 2022 FIRE cohort
« Reply #609 on: October 23, 2019, 04:05:57 PM »
Turning 50 in 12 days time, so I'm not really going to be RE, but earlier than most of my peers.  (There is more than one person working here at over 70).  I'm still not sure if I will make 2022, but we should be in a position to decide whether to keep working or not then.

Net worth at 1.3M AUD, but not all of it is in performing assets, and they are not going to be sold either.  Our effective net worth other than the family home is 820K, which isn't quite enough yet.  Need about 1.2M for true FIRE.

Working and saving to get there!

couponvan

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Re: 2022 FIRE cohort
« Reply #610 on: October 23, 2019, 08:19:23 PM »
After 6 months full smoke break, I can say there are still plenty of mundane things to do....Life has not been the complete set of joyful I expected. Make sure you have real friends before you retire-not just work friends you think are your friends. They will be too busy to hang out with you. I’m struggling with Fall letdown compounded by sinusitis and double ear problems.  If I go out with real people 3x a week that is pushing it....smoke breaks are lonely. I’m not sure full FIRE is for me.

HappyCheerE

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Re: 2022 FIRE cohort
« Reply #611 on: November 11, 2019, 01:46:08 PM »
Sorry you're feeling down, @couponvan! Big adjustments, even theoretically-positive ones, are hard anyway, and the sinus/ear thing sounds like a bummer. Good warning about work friends--there have been some great Ask a Manager threads about those friendships not lasting but I can't find any right now. I hope things are looking better now.

We were at 94.8% at the end of October and over 95% now, and that's our potentially-to-be-revised-downwards original number. The ACA open enrollment is showing me we might even go lower over what we have budgeted now. I'm telling myself no decisions until January when I our actual spending for this year, but I'm really hoping we might move up our date! Fingers crossed!

dsw

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Re: 2022 FIRE cohort
« Reply #612 on: November 12, 2019, 07:38:06 AM »
Yeah, I'm also sorry to hear that you're having a tough time. I can definitely see how it would be disappointing for the work friendships to melt away with work. I can also see how that happens, given how focused most people's lives are on work.

I also have been thinking about for my own situation what time of year I would leave. I can see how leaving in the Fall/Winter would be tricky. Days are getting noticeably shorter and it can get tough to get out to do things, depending on where you live. I'm currently thinking of timing my departure in early Spring or early Summer. I think if it winds up being later than that, I'll just finish out the year. That way, I'd wind up getting out in time to do some long hiking trips, plus I'd get my 401k/IRA contributions complete, and another year of social security contributions. This assumes, of course, assumes that my job is still palatable then, which is not a given.

freya

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Re: 2022 FIRE cohort
« Reply #613 on: November 13, 2019, 08:21:12 AM »
After 6 months full smoke break, I can say there are still plenty of mundane things to do....Life has not been the complete set of joyful I expected. Make sure you have real friends before you retire-not just work friends you think are your friends. They will be too busy to hang out with you. I’m struggling with Fall letdown compounded by sinusitis and double ear problems.  If I go out with real people 3x a week that is pushing it....smoke breaks are lonely. I’m not sure full FIRE is for me.

A lot of people in the Post-FIRE threads report needing "decompression" that takes 6 months or longer.  Might that be what's happening?  The medical issues plus shorter/colder days certainly can't be helping.

I worry a bit about limited social interactions post FIRE too, except that I'm kind of stuck in a loop where it's hard to make friends with people outside of work, because work is all-consuming.  I remember when I was in my 30s I had lots of extra energy for activities outside of work:  long group bike rides, flying lessons (very anti-mustachian that, but it was super fun), violin lessons and playing in a community orchestra, signing up for culinary classes, going to "stitch and bitch" knitting clubs and other meetups, volunteering with Habitat for Humanity and the local church's soup kitchen.   

That's harder to pull off now (in my 50s) as more and more energy is needed to keep up with the demands of work and the increasing needs of aging family members.  I figure that when I FIRE, I'll go through a prolonged decompression where all I'll want to do is putter around at home in my pjs.  Eventually I'll start getting restless, then I'll revisit some of those enjoyable activities.  It definitely helps that I have a close friend who has already FIRED.  Expanding the social circle would come naturally after that.

SheWhoWalksAtLunch

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Re: 2022 FIRE cohort
« Reply #614 on: November 13, 2019, 11:18:22 AM »
After 6 months full smoke break, I can say there are still plenty of mundane things to do....Life has not been the complete set of joyful I expected. Make sure you have real friends before you retire-not just work friends you think are your friends. They will be too busy to hang out with you. I’m struggling with Fall letdown compounded by sinusitis and double ear problems.  If I go out with real people 3x a week that is pushing it....smoke breaks are lonely. I’m not sure full FIRE is for me.

A lot of people in the Post-FIRE threads report needing "decompression" that takes 6 months or longer.  Might that be what's happening?  The medical issues plus shorter/colder days certainly can't be helping.

I worry a bit about limited social interactions post FIRE too, except that I'm kind of stuck in a loop where it's hard to make friends with people outside of work, because work is all-consuming.  I remember when I was in my 30s I had lots of extra energy for activities outside of work:  long group bike rides, flying lessons (very anti-mustachian that, but it was super fun), violin lessons and playing in a community orchestra, signing up for culinary classes, going to "stitch and bitch" knitting clubs and other meetups, volunteering with Habitat for Humanity and the local church's soup kitchen.   

That's harder to pull off now (in my 50s) as more and more energy is needed to keep up with the demands of work and the increasing needs of aging family members.  I figure that when I FIRE, I'll go through a prolonged decompression where all I'll want to do is putter around at home in my pjs.  Eventually I'll start getting restless, then I'll revisit some of those enjoyable activities.  It definitely helps that I have a close friend who has already FIRED.  Expanding the social circle would come naturally after that.

+1  I'm keeping a running list of things I stumble across now that I think I might be interested in when I finally FIRE - ex: local rowing group, animal foster opportunities, etc.  Plus a list of podcasts, books & blog posts about how to make friends as an adult.  I figure when I've decompressed and am ready and willing to put in the effort I can go about making new friends LIKE ITS MY JOB.

examples:
Nancy Podcast: How to get a gaggle
Captain Awkward Blog: #91 Instructions for finding your people
Book MWF seeks BFF by Rachel Bertsche

If anyone has other suggestions please share.

eazyebeneezer

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Re: 2022 FIRE cohort
« Reply #615 on: November 24, 2019, 08:37:04 PM »
My partner and I just began the FIRE journey a few months ago. We had a solid foundation but now we are committed to maximizing all savings/investing options and we realized 2022 (summer) is the year we FIRE! As a teacher I will be maxed out on my pay scale for three years in a row by then, which is how my eventual pension will be calculated. We are now daydreaming about all the different adventures we'll be able to undertake at that point with our daughter, who will be seven. We have different options in terms of taking extended leaves, and my partner might be able transfer to a different country or city for OMY. We will likely continue working in some capacity, but we're just really excited about the prospect of more freedom!

The MMM site and forums have been so helpful. We are very appreciative of this community. I feel like we've discovered a secret that was hidden in plain sight all along. My money mindset is completely different than it was one year ago.

Checking back in with an update. Still on track for leaving my teaching job in the summer of 2022. For a while I was considering taking a year-long sabbatical (professional leave) to catch my breath and cope with burnout, but in looking at the numbers there is a huge incentive to holding on for a couple more years. I've maxed my salary but also am coaching three seasons, which adds a stipend and brings up my top three years. Our combined net worth with my wife has crossed over the half million mark (around 580k), so by 2022 we will have a substantial portfolio to bridge the gap before we start collecting my pension.

Staying motivated at work has been tough. As the Happy Philosopher once said, I've shortened my sentence but I haven't done anything to make my cell more comfortable. My current mission is to "make the cell more comfortable", find ways to cope with burnout and try to enjoy my job despite some of the challenges. Would love to hear how the cohort members are dealing with the psychology of a goal that seems really close but still really far.

middo

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Re: 2022 FIRE cohort
« Reply #616 on: November 25, 2019, 02:50:57 AM »
My partner and I just began the FIRE journey a few months ago. We had a solid foundation but now we are committed to maximizing all savings/investing options and we realized 2022 (summer) is the year we FIRE! As a teacher I will be maxed out on my pay scale for three years in a row by then, which is how my eventual pension will be calculated. We are now daydreaming about all the different adventures we'll be able to undertake at that point with our daughter, who will be seven. We have different options in terms of taking extended leaves, and my partner might be able transfer to a different country or city for OMY. We will likely continue working in some capacity, but we're just really excited about the prospect of more freedom!

The MMM site and forums have been so helpful. We are very appreciative of this community. I feel like we've discovered a secret that was hidden in plain sight all along. My money mindset is completely different than it was one year ago.

Checking back in with an update. Still on track for leaving my teaching job in the summer of 2022. For a while I was considering taking a year-long sabbatical (professional leave) to catch my breath and cope with burnout, but in looking at the numbers there is a huge incentive to holding on for a couple more years. I've maxed my salary but also am coaching three seasons, which adds a stipend and brings up my top three years. Our combined net worth with my wife has crossed over the half million mark (around 580k), so by 2022 we will have a substantial portfolio to bridge the gap before we start collecting my pension.

Staying motivated at work has been tough. As the Happy Philosopher once said, I've shortened my sentence but I haven't done anything to make my cell more comfortable. My current mission is to "make the cell more comfortable", find ways to cope with burnout and try to enjoy my job despite some of the challenges. Would love to hear how the cohort members are dealing with the psychology of a goal that seems really close but still really far.

I'm actually finding that as I get closer to being able to pull the pin, I'm enjoying my teaching job more and more.  Part of it is being at a great school, but part of it is my lack of concern about things.  I mean, what's the worst that can happen?

Trifele

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Re: 2022 FIRE cohort
« Reply #617 on: November 25, 2019, 04:28:47 AM »
+1  I'm keeping a running list of things I stumble across now that I think I might be interested in when I finally FIRE - ex: local rowing group, animal foster opportunities, etc.  Plus a list of podcasts, books & blog posts about how to make friends as an adult.  I figure when I've decompressed and am ready and willing to put in the effort I can go about making new friends LIKE ITS MY JOB.

examples:
Nancy Podcast: How to get a gaggle
Captain Awkward Blog: #91 Instructions for finding your people
Book MWF seeks BFF by Rachel Bertsche

If anyone has other suggestions please share.

Thank you for these suggestions @SheWhoWalksAtLunch!  I FIREd earlier this year, did some traveling, and I think I've decompressed.  It's time for me to get serious about finding friends.   I'm a transplant to this area (western NC -- are we neighbors?) which makes it harder.  It's meant starting from scratch -- no old friends or family nearby to kick start the process.  I've gone to a couple Meetup groups, and just started looking around for volunteer opportunities.   

freya

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Re: 2022 FIRE cohort
« Reply #618 on: November 25, 2019, 07:12:46 AM »
Staying motivated at work has been tough. As the Happy Philosopher once said, I've shortened my sentence but I haven't done anything to make my cell more comfortable. My current mission is to "make the cell more comfortable", find ways to cope with burnout and try to enjoy my job despite some of the challenges. Would love to hear how the cohort members are dealing with the psychology of a goal that seems really close but still really far.

I can relate to this!

My work environment's equivalent of "keeping up with the Joneses" is to work long hours, take work home on weekends, and take minimal personal time off.  A couple of years ago I realized that had brought me to a place where I had a minimal life outside of work, mostly dominated by demands/needs from family, and I was a classic case of serious burnout.

I took a close look at my employer's rules for vacation & personal days, and found I qualified for 5 weeks off every year (the joys of a career in academia).    I set up vacation times a year in advance and put them on my calendar, along with a two-week warning so I could be sure to clear my schedule.  No need to go away; I'm actually happy with staycations since they're stress-free and I hate traveling anyway because I do it so often for work.  When my calendar says it's time, I warn people who need to know so they won't bother me while I'm off, and then I take it - no matter what.  The decompression time has worked wonders.

I also started limiting the time I spend outside of work hours on work-related tasks, and I stopped caring what certain co-workers might be thinking (they're mainly thinking about themselves anyway).  I figured, if they get upset with me and cut my pay, it won't matter to me in the slightest - I'm close to FI, at the point where investment gains are greater than my new contributions, and I'm at a > 50% savings rate.  Instead, I put more energy into keeping up with friends/family/neighbors.  I still find it hard to have much in the way of extracurricular activities though.

Imagine my surprise when I learned a few months ago that I'd been handed a big raise!

SheWhoWalksAtLunch

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Re: 2022 FIRE cohort
« Reply #619 on: November 25, 2019, 10:55:47 AM »
+1  I'm keeping a running list of things I stumble across now that I think I might be interested in when I finally FIRE - ex: local rowing group, animal foster opportunities, etc.  Plus a list of podcasts, books & blog posts about how to make friends as an adult.  I figure when I've decompressed and am ready and willing to put in the effort I can go about making new friends LIKE ITS MY JOB.

examples:
Nancy Podcast: How to get a gaggle
Captain Awkward Blog: #91 Instructions for finding your people
Book MWF seeks BFF by Rachel Bertsche

If anyone has other suggestions please share.

Thank you for these suggestions @SheWhoWalksAtLunch!  I FIREd earlier this year, did some traveling, and I think I've decompressed.  It's time for me to get serious about finding friends.   I'm a transplant to this area (western NC -- are we neighbors?) which makes it harder.  It's meant starting from scratch -- no old friends or family nearby to kick start the process.  I've gone to a couple Meetup groups, and just started looking around for volunteer opportunities.   

I'm less than an hour from Asheville.  You?

Trifele

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Re: 2022 FIRE cohort
« Reply #620 on: November 25, 2019, 02:12:08 PM »
+1  I'm keeping a running list of things I stumble across now that I think I might be interested in when I finally FIRE - ex: local rowing group, animal foster opportunities, etc.  Plus a list of podcasts, books & blog posts about how to make friends as an adult.  I figure when I've decompressed and am ready and willing to put in the effort I can go about making new friends LIKE ITS MY JOB.

examples:
Nancy Podcast: How to get a gaggle
Captain Awkward Blog: #91 Instructions for finding your people
Book MWF seeks BFF by Rachel Bertsche

If anyone has other suggestions please share.

Thank you for these suggestions @SheWhoWalksAtLunch!  I FIREd earlier this year, did some traveling, and I think I've decompressed.  It's time for me to get serious about finding friends.   I'm a transplant to this area (western NC -- are we neighbors?) which makes it harder.  It's meant starting from scratch -- no old friends or family nearby to kick start the process.  I've gone to a couple Meetup groups, and just started looking around for volunteer opportunities.   

I'm less than an hour from Asheville.  You?

Haha -- me too.  I'll PM you.  :)

Thoughtful Mule

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Re: 2022 FIRE cohort
« Reply #621 on: November 28, 2019, 09:42:06 PM »
Our FI date had drifted into 2021 (yeah!), then earlier this year a job opportunity came up and we decided to relocate to a higher COL area. Sounds counter-intuitive, but it makes sense for us for lifestyle reasons (Orlando, FL to Denver, CO). This puts us entering the FI zone somewhere in 2022 as originally planned. We are excited to set up a new living situation with FU money, but pre-FI, and hope it will be energizing even if it means working a little longer. Since we are so close at this point, there’s opportunity to take some chances while hanging onto our careers. We’ll be selling out paid off house, investing the proceeds and renting for a while. That's the plan.

If were honest, everyone in this thread has FU money. Is anyone else making moves before hitting FI?

TempusFugit

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Re: 2022 FIRE cohort
« Reply #622 on: November 29, 2019, 08:59:40 AM »
There's a lot to be said for taking chances when you're in the lead.  If it doesn't work out, then you can easily recover.  Especially if you rent for a while as you say, so you aren't tied down in the new location.

I am considering a local move before FIREing because I know how much easier it will be to get a mortgage while I've still got a job. 

lollylegs

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Re: 2022 FIRE cohort
« Reply #623 on: November 29, 2019, 10:13:22 AM »
good to have FU money,opens up opportunities. sounds like a good plan

We are planning to sell up and move into our IP either just before or just after we retire. The money from selling our PPOR will clear the IP mortgage and there should be some left to add to our investments. We'll be downsizing from a large 4 bedroom home into a small duplex in the centre of town. No upkeep of yards and we can walk everywhere. I'm really looking forward to it but we will have a lot of work to do first on getting our 30 year old house ready to sell.

asauer

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Re: 2022 FIRE cohort
« Reply #624 on: November 29, 2019, 12:14:20 PM »
Thank you for posting this.  The place you describe is exactly where I am.  I've stepped back a bit from professional associations and the like and now need to learn to take my foot off of the corporate pedal.  I need to maintain where I am, not zoom ahead so that I can get some other things going that are not work related and, like you have said, get my health in order.  Between a demanding career, house, two kids and husband, I fear I've put my health in the back seat.

Just checking in as I'm really finding work tough at the moment. I'm living for the 2019/20 thread watching people finally make it to their retirement dates.

Our stash is almost at $500,000 with three years to go, so savings are going well. We'll be paying off the mortgage before we retire so will probably increase those payments next year. Most of our finances is automated now so I feel like I'm just plugging away.

 Work days left: 817  which does make it feel like less time to go.

I've been reading How to Retire Happy Wild & Free and its really made me realise how much of my identity is tied up in my work, which probably explains why I've found this year a bit difficult. I spent the last two years mentoring a couple of young professionals weekly and while it was a big commitment, it has been really satisfying to pass on some of my knowledge and just encourage them along. That is now ending and I am looking forward to having that time back, but it just reminds me its time for me to gracefully let go of my professional life. I also recently left several professional groups - its actually really reduced my stress.

So since reading the book I've done done quite a bit of research on what is available for me to do locally and have found some really good groups, classes and volunteering opportunities that I am quite excited about. I've joined mailing lists and now find myself wishing I was not working so I could get to some of these events. I'm quite sure now I will have plenty to do in retirement. I'm not some one who has participated in much that wasn't work related over my adult life ( unlike DH) so this is quite a change. Overall I'm feeling optimistic, just stuck in a job I no longer enjoy.

Financially we are looking on track. My next issue to address is health - no more putting off getting fit till I retire!

hows everyone else doing?

ItsALongStory

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Re: 2022 FIRE cohort
« Reply #625 on: November 30, 2019, 11:01:25 PM »
Recent convert to the 2022 Cohort and excited to be here.

Is anyone else making moves before hitting FI?

My wife and I will more than likely make a move across the Atlantic (eastbound) pre-FI. It will hopefully offer us an opportunity to move to our desired general locale (southern Europe) while wrapping up the corporate career. There is a chance that the only way we could make it happen is through a job in Portugal which would possibly mean disqualification from their retiree visa for at least the first 5 years post-RE. With wages significantly lower in PT, it might make more sense to do 1 extra year either elsewhere in Europe or perhaps here in the US before moving.

Plan A though is that we move late next summer, sell our house here and i work a further 2 years before slowing down. I suspect I will still work a little bit at times, but travel and family are our priorities for sure.

HappyCheerE

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Re: 2022 FIRE cohort
« Reply #626 on: December 02, 2019, 04:48:40 PM »
96% of current target as of 11/30 (dropped back down today).  Squee! We won't be moving or basically changing anything about our lifestyle except having more free time.  We are renters and although it's expensive compared to when we owned our own place, I LOVE the lack of hassles and the freedom. I do hope we don't ever have to move again, but even if we did we would stay in the same city. It's nice to put down roots in a community--I'm really glad we got settled in this way before FI. Good luck to those who are planning a move!

rachaelandthegoose

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Re: 2022 FIRE cohort
« Reply #627 on: December 09, 2019, 06:42:50 PM »
DH and I have been “officially” pursuing FI since sometime in 2016, but only now have I been reading the forums more and more (mostly to keep myself sane during long downtime hours at work, and to keep myself motivated). Now seems like a good time to jump in, as I think the next couple years are going to be very exciting for all of us.

Our target is May 2022 and most days I feel in a weird state of disbelief about two completely opposite things: 1) I can’t believe we made it this far! And 2) OMG, this is taking so long! Even so, though, it feels that from this point on we’re going to be hitting milestone after milestone like a pinball machine.

And even though 2.5 years still feels far away in many ways, I’m already starting to realize that I need to start figuring out better specifics AFA withdrawal strategies and such. Weird to actually think about in specifics.

DH will definitely retire or give notice on his 40th birthday in early May 2022. I don’t want him to have to work past that date. He’s in a skilled trade, so he won’t have to give more than two weeks’ notice.

I’m OK with working a little past that, maybe finishing out the end of 2022 (and giving a few months notice towards the end) just to make things easier for ACA/health insurance reasons. Plus it’ll give us a little extra cash flow during the transitional period for moving/selling expense, etc. DH can take the reins on selling the house, dealing with the realtors/lawyers/inspectors, etc, and any repairs that need to be done while I’m at work. I will also enjoy having myself a nice house husband during those final months who can take all the household chores off my plate and hopefully take the sting out of sticking around those last few months.

We’re not sure yet if we’ll move into a rental for a year to detox and shop for our “forever” home in a LCOL area, or move right away to a new permanent home. If we see something we’re excited about, we’ll jump on it, but I also think we’ll need that post-work 6-12 months to really clear our heads and figure out what we really, truly want outside the context of work burnout. I’m pretty sure it’s going to involve some level of quasi-homesteading, though, so it’s really just figuring out the scale we want to take on, and what other projects/pursuits we want to leave room for.

Anywho, those are our “best laid plans”. DH and I work for different companies, but in very closely related industries, which are experiencing a downturn right now. There are no guarantees that everything will stay status quo with our jobs, but here’s hoping….

dsw

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Re: 2022 FIRE cohort
« Reply #628 on: December 10, 2019, 09:02:27 AM »
Welcome Rachel (and goose)! I hear you about how you're seeing the time remaining. I'm not at the point where I can do a countdown yet, but when work gets tough, I find myself doing all sorts of calculations about how many days more or what would it look like if I quit now. Fortunately, like you, I've been hitting some important milestones recently, and I have some big ones coming in 2020. Plus I think about what I would be feeling if I knew I'd have to do this for 20 more years instead.

This time next year, I don't know whether I'll be more serene about things, or whether I'll be even more anxious to through the next year. In any case, it should be an interesting journey for the next couple of years. We're glad you're here!

ixtap

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Re: 2022 FIRE cohort
« Reply #629 on: December 10, 2019, 09:43:36 AM »
DH is now talking about a 2022 retirement. We have hit our minimum number, but are only a little over half way to our "max" number, which is where we have agreed to "no more excuses."

His most recent raise helps with the numbers, but it doesn't help with the attitude. It is highly unlikely he will ever be at this pay scale again if he takes a break, so he wants to make hay while the sun shines.

However, we now have an incentive to limit the time: we just got all new rigging and new sails. You wouldn't want to wear those out before you start full time cruising! Oops, savings rate slipped to a mere ~30% of gross; we paid the rigger an amount roughly equal to our normal annual spending! We used all the extra spending to cash in on just about every decent bonus we could find, still have some space left on the Chase 3%, but we have a whole year to use that, rather than the usual 90 days. We have used the bonus miles and rewards points to cover all the planes and trains for next year's trip to Europe, that we were already starting to plan before we found out we would have to do the rigging.

Next year will be a new stove/ propane system, possibly new canvas covers. The water maker will be a bon voyage gift to ourselves, because those don't like to sit without being used.

rachaelandthegoose

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Re: 2022 FIRE cohort
« Reply #630 on: December 11, 2019, 05:25:12 PM »
Welcome Rachel (and goose)! I hear you about how you're seeing the time remaining. I'm not at the point where I can do a countdown yet, but when work gets tough, I find myself doing all sorts of calculations about how many days more or what would it look like if I quit now. Fortunately, like you, I've been hitting some important milestones recently, and I have some big ones coming in 2020. Plus I think about what I would be feeling if I knew I'd have to do this for 20 more years instead.

This time next year, I don't know whether I'll be more serene about things, or whether I'll be even more anxious to through the next year. In any case, it should be an interesting journey for the next couple of years. We're glad you're here!

I'm pretty sure I'll be more anxious. The need to stop this very stale work routine is becoming a daily itch. But maybe at some point in the next year I'll be more zen? Fun fact - "The Goose" is actually our 15 year old lab/basset mix. She's doing great, but we never thought she'd make it this far and the last thing we want to do is put her through the trauma of moving at her age (and moving is a big part of our post-FIRE plans), so for right now, she's our financial guru, keeping us on track and preventing us from doing anything rash.

I also just realized that I did post on this thread before, back in Sept 2017, so I'm 22 month better off than I was then! :)

Need2Save

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Re: 2022 FIRE cohort
« Reply #631 on: December 13, 2019, 10:34:28 AM »
It's nice to see some new names (or newly active names) on this thread!  I think I can really appreciate the comment by @rachaelandthegoose that it still seems so far away and so close at the same time. Some days the waiting is very, very hard.  I think especially for DH because he has been at the same job for about 24 years and is very burned out. He is currently planning on FIREing just a little ahead of me in December, 2021 at age 49.

I thought of a good holiday gift to give to him.  He still uses a wall calendar in his office at work and I usually find him one with nice scenic pictures of places we've been or would like to go for inspiration. This year, I took the wrapper off the calendar and starting with January, I decorated the day of the month which represents the number of months he has left.  So for Jan. 2020, I decorated the 23rd. For Feb. 2020, I decorated the 22nd and so forth. I'm hoping noone that frequents his office will notice that there is a day each month that is 'special', but it will be a subtle reminder to him throughout the year that he is getting one more month closer to the end. By December, it will be only 12 more months!

We are both doing year-end reviews right now for ourselves and our direct reports. What an f'ing drag. I hate these things and I cannot wait to be done with them. My self review is shorter and shorter each year because I just cannot stand to regurgitate the same thing year after year. I hope my boss doesn't say anything but she probably won't. Maybe she'll be glad there is less B.S. to read?

dsw

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Re: 2022 FIRE cohort
« Reply #632 on: December 13, 2019, 01:36:56 PM »

We are both doing year-end reviews right now for ourselves and our direct reports. What an f'ing drag. I hate these things and I cannot wait to be done with them. My self review is shorter and shorter each year because I just cannot stand to regurgitate the same thing year after year. I hope my boss doesn't say anything but she probably won't. Maybe she'll be glad there is less B.S. to read?

I just finished giving performance reviews! I'm so glad to be done with that for another year (although, strangely I haven't received mine yet. Hopefully that's not ominous). When I was done, it was pretty nice to think that I may only have to go through that two more times. Such tedium . . .

rachaelandthegoose

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Re: 2022 FIRE cohort
« Reply #633 on: December 14, 2019, 07:48:36 AM »
I thought of a good holiday gift to give to him.  He still uses a wall calendar in his office at work and I usually find him one with nice scenic pictures of places we've been or would like to go for inspiration. This year, I took the wrapper off the calendar and starting with January, I decorated the day of the month which represents the number of months he has left.  So for Jan. 2020, I decorated the 23rd. For Feb. 2020, I decorated the 22nd and so forth. I'm hoping noone that frequents his office will notice that there is a day each month that is 'special', but it will be a subtle reminder to him throughout the year that he is getting one more month closer to the end. By December, it will be only 12 more months!

I absolutely love this! Both for the sweetness and creativity of the gesture, and also the secret covertness. Very clever! :)

fireseeker

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Re: 2022 FIRE cohort
« Reply #634 on: December 15, 2019, 08:57:18 AM »
Hello everyone! DH and I are both 38 years old. We got serious about FI this year, downsizing to a 2BR townhome at a metro stop, selling our second car, maxing out DH's salary deferral at 30%, and then maxing out his 401K contributions at 50% of the remainder. This has turned his huge salary (in finance) into a tiny take-home pay, which is great for forced frugality. We are two years from FI at our current rate of savings, but we are considering making some career changes to get a more relaxed lifestyle (and lower pay) now. One or both of us will likely work part-time until our children are old enough to be on their own health insurance (20 years from now), as they both have major health conditions. We have had at least one major surgery every year for the past five years. Medical crises, especially when it comes to your children, have a way of putting things into perspective. Life is precious and we want to maximize whatever time we have together. I have been a SAHM for several years, but I'm hoping to return to teaching college statistics next year to give DH options and a break if he wants it. For now, we are so excited about the changes and progress we've made this year.

Year     Liquid Assets     Net Worth     Annual Spending
2018    $437K               $742K          $65K
2019    $729K               $891K          $45K

Projection if we keep the status quo: DH stays in corporate finance job and I remain a SAHM

Year     Liquid Assets     Net Worth     Annual Spending
2020    $850K               $1.02M         $36K
2021    $975K               $1.15M         $36K
2022    $1.1M               $1.28M         $36K

We still need to do more figuring on our ACA insurance options if we decide to RE rather than go part-time. Regardless, we are making great progress toward FI and we are excited about the world of possibilities that is opening up to us!!

nereo

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Re: 2022 FIRE cohort
« Reply #635 on: December 16, 2019, 06:23:29 AM »
Posting here again because we might be able to stay on this 2022 train after all..

After sitting on the market far too long our former condo is in closing, which should (if nothing falls through) give us a nice influx of cash (equity) and drastically improve our cash flow in 2020, which we plan to use to finally max out all our tax-advantaged headspace.  There are some additional job prospects which would shift us into a 2-income household for the first time ever.  Nothing definite but I am hopeful.

Reduced expenses + increased income = solid foundation for saving towards FI.

fireseeker

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Re: 2022 FIRE cohort
« Reply #636 on: December 16, 2019, 08:08:59 AM »
Great plan @nereo! That's exactly what we just did/are doing. Sold our old house to reduce expenses, maxed out tax advantaged savings for the first time ever, and I'm planning to go back to work after a 10 year hiatus (DH has been the financial heavy lifter around here). Cheers and good luck with the job prospects!

FrugalSaver

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Re: 2022 FIRE cohort
« Reply #637 on: January 01, 2020, 01:08:58 AM »
Another year like 2019 and I may have to just move on the 2021 thread

ItsALongStory

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Re: 2022 FIRE cohort
« Reply #638 on: January 01, 2020, 09:36:30 AM »
Would be a wonderful problem to have, @FrugalSaver

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HappyCheerE

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Re: 2022 FIRE cohort
« Reply #639 on: January 01, 2020, 06:21:07 PM »
I'm moving up - joining the 2020 cohort! We're at 97.7% of our original target but more than 25x spending revised after taking out payroll taxes I won't owe. With my side hustles, the fact that the spending number has built-in fat, that SS could start as early as 2024 if necessary, I feel confident in the numbers. The biggest motivation is that there are 2 big projects ramping up at work that I would love to squiggle out from under. It's not worth sticking around for the tiny retirement health pot, or the tuition benefit that I'm primarily using to keep myself interested (SO many other educational options). I am super-nervous, not about the financial aspect but the social and self-management parts. 2022 still felt far enough away that the reality hadn't really sunk in. I'm planning on giving notice in February (probably working for another 6 months) and that's super-fricking SOON! Yikes but yay!

Best wishes and go go go to all of y'all! 2022 will be here before you know it. I'll be following along and rooting for you!

ixtap

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Re: 2022 FIRE cohort
« Reply #640 on: January 01, 2020, 07:04:37 PM »
 Congratulations, @HappyCheerE !

We, on the other hand, plan on trying ourselves down for two more years as soon as we return. We will be asking to renew our lease for another two years.

highlandterrier

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Re: 2022 FIRE cohort
« Reply #641 on: January 02, 2020, 03:54:00 AM »
Realised that Christmas next year will be our last as workers, now that seems close!

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lollylegs

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Re: 2022 FIRE cohort
« Reply #642 on: January 02, 2020, 07:35:57 AM »

Congrats @HappyCheerE!! 

Realised that Christmas next year will be our last as workers, now that seems close!

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oh wow, that is a good way of thinking about it!

FrugalSaver

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Re: 2022 FIRE cohort
« Reply #643 on: January 05, 2020, 11:21:23 PM »
26 months and 2 days

One thing I’ve done for years but really accelerated this past year was selling options. I made about $100k extra doing that. Will be interesting if I can build on that this next year

rachaelandthegoose

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Re: 2022 FIRE cohort
« Reply #644 on: January 06, 2020, 05:04:44 PM »
We marked the calendar down to 29 months this month. We're in our twenties again! :)

Need2Save

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Re: 2022 FIRE cohort
« Reply #645 on: January 07, 2020, 01:34:53 PM »
It's nice to read and feel everyone's excitement building! Happy 2020!

DH has 23 more months (Dec. '21) and I have 30 more to go (July '22) 

Focusing on the fun stuff occuring between now and then like....
- Short Trip to NYC this year
- Longer Trip to Alaska and Cruise this year
- Short Trip to NH this summer (girls weekend with nieces)
- Possible Trip to London in November ?TBD?
- Longer Trip to Hawaii next year

PS - calendar was well received.

friedmmj

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Re: 2022 FIRE cohort
« Reply #646 on: January 07, 2020, 04:14:22 PM »
We marked the calendar down to 29 months this month. We're in our twenties again! :)

Love being in my twenties again!

asauer

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Re: 2022 FIRE cohort
« Reply #647 on: January 17, 2020, 05:31:07 AM »
My partner and I just began the FIRE journey a few months ago. We had a solid foundation but now we are committed to maximizing all savings/investing options and we realized 2022 (summer) is the year we FIRE! As a teacher I will be maxed out on my pay scale for three years in a row by then, which is how my eventual pension will be calculated. We are now daydreaming about all the different adventures we'll be able to undertake at that point with our daughter, who will be seven. We have different options in terms of taking extended leaves, and my partner might be able transfer to a different country or city for OMY. We will likely continue working in some capacity, but we're just really excited about the prospect of more freedom!

I hear you.  I considered doing the same but even with burnout I think 2 years will pass relatively quickly.
The MMM site and forums have been so helpful. We are very appreciative of this community. I feel like we've discovered a secret that was hidden in plain sight all along. My money mindset is completely different than it was one year ago.

Checking back in with an update. Still on track for leaving my teaching job in the summer of 2022. For a while I was considering taking a year-long sabbatical (professional leave) to catch my breath and cope with burnout, but in looking at the numbers there is a huge incentive to holding on for a couple more years. I've maxed my salary but also am coaching three seasons, which adds a stipend and brings up my top three years. Our combined net worth with my wife has crossed over the half million mark (around 580k), so by 2022 we will have a substantial portfolio to bridge the gap before we start collecting my pension.

Staying motivated at work has been tough. As the Happy Philosopher once said, I've shortened my sentence but I haven't done anything to make my cell more comfortable. My current mission is to "make the cell more comfortable", find ways to cope with burnout and try to enjoy my job despite some of the challenges. Would love to hear how the cohort members are dealing with the psychology of a goal that seems really close but still really far.

Chuck

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Re: 2022 FIRE cohort
« Reply #648 on: January 17, 2020, 12:08:49 PM »
2019 was very good to me. Now at 719k NW.

However, we are looking at having kids soon, and also moving into a larger, more expensive home. So I guess I'll probably have to settle for working with FU money... Not officially quitting the cohort yet, especially since I am right on track to meet my old goals, but it looks like I might fall to lifestyle inflation.

dsw

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Re: 2022 FIRE cohort
« Reply #649 on: January 17, 2020, 02:05:15 PM »

Would love to hear how the cohort members are dealing with the psychology of a goal that seems really close but still really far.

I have been struggling with this a fair amount lately. Work has been a bit of grind. I have a good job, but it's been super busy for months now and I'm wearing down a bit. I'm due to hit some fairly major financial goals (including actually being financially independent at some point this year), which helps with the grind. I'm also about three months from being able to do silly things like counting down the weeks. I feel like when I have 100 weeks to go, it will be easy to just concentrate on getting myself through the week so I can knock off one more number. Beyond that, there's something very satisfying about making it to another payday so I can set aside more money. None of that is massively satisfying or productive, but so far they've served well as coping mechanisms to keep it all tolerable.