Author Topic: 2024 FIRE Cohort  (Read 21271 times)

Nangirl17

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Re: 2024 FIRE Cohort
« Reply #50 on: May 14, 2016, 09:36:48 PM »
I'm hoping for 2024 to be fully retired at age 45. I just went to part time work though, and haven't yet experienced how much we can save at this level etc. So it may be a year or two on the optimistic side. (I have no idea how to use a spreadsheet that I keep reading about so I am relying on firecalc etc)

hucktard

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Re: 2024 FIRE Cohort
« Reply #51 on: May 24, 2016, 11:39:08 AM »
I am planning on 2024, and I'll be 44, wife will be 43. It really depends on real estate though. It is much easier to estimate how much money you will have when investing in stocks, rather than rental properties! So 2024 is when I would be financially independent if I didn't buy any more real estate. If I buy more real estate I may reach FI much sooner than 2024.

sisto

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Re: 2024 FIRE Cohort
« Reply #52 on: September 01, 2016, 11:29:17 AM »
2024 is my backup FIRE date. I'm currently on track for 2021 when I'm eligible for the rule of 75 to retire from Megacorp, but there are a few things that might make me push that date. I will be 52 and eligible in June, but due for my sabbatical in September. So I was thinking I might push until September so I can get 2 months off paid. Then I realized if I stay through the end of the year I would get my profit sharing so why not do that. Then I realized why not stay until April of 2022 and collect my RSUs that work on a tier system as well as collect on 2 bonuses one in Feb and one in April. So now, I've basically OMY'd myself already. Now throw in the fact that if I wait until my 55th birthday in 2024 that I can pull from my 401K directly. So I would not have to setup a ROTH ladder and or 72t SEPP. While I don't want to wait that long, I think it might be worth it. So I'm currently considering spending a little more now to have some fun and work/life balance and then push FIRE to 2024.

DutchGirl

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Re: 2024 FIRE Cohort
« Reply #53 on: November 13, 2016, 08:56:13 AM »
I hope to be in this class, too. I'll be 45 in January of that year, a good age to stop having to work.

I wished I could stop five years earlier, but that's just not very realistic. So 2024, here I come :-)

My savings rate has been 40-45% over these last couple of years. I hope to keep it that way, perhaps get it up a bit due to increase income, but not much probably.

Blahhhh456

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Re: 2024 FIRE Cohort
« Reply #54 on: February 13, 2017, 12:53:05 PM »
Joining this thread! I hope to FIRE December 2024. Based upon current calculations, I am optimistic we can achieve this date. I'll be 38 and DH will be 36. He is still up in the air if he actually wants to quit working. As we are closer to the date, he may change his mind. We have plenty of time to decide.

plainjane

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Re: 2024 FIRE Cohort
« Reply #55 on: February 13, 2017, 01:19:36 PM »
This is the plan/goal according to the almighty spreadsheet & all the attendant assumptions therein

As of Feb 1, the stash is 50% of the way there.

kissthesky

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Re: 2024 FIRE Cohort
« Reply #56 on: February 20, 2017, 08:46:58 PM »
My people! :)

I plan on hitting FI in 2024 when I'm 34 with >$1M in fire assets. I'll probably work part-time after that to keep health insurance and still have something stable to do. I bet a lot of things will change between now and then.. I like having a plan though!


Nangirl17

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Re: 2024 FIRE Cohort
« Reply #57 on: March 02, 2017, 06:13:25 PM »
Thanks to the YUGE leap in the markets, we're ~69% there!
=)


Abe

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Re: 2024 FIRE Cohort
« Reply #58 on: March 02, 2017, 06:36:56 PM »
My wife and I are about 33% of our way to our goal, and I've still have two years before I reach my ultimate salary level. We will probably work for another 10 years or so since we enjoy our jobs, but it's good to have flexibility with employment.

1SLOLS1

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Re: 2024 FIRE Cohort
« Reply #59 on: March 21, 2017, 08:46:57 PM »
7/9/2024
I'll be exactly 40 years old.
I've told myself, no matter what, I'm out.
I've never wanted anything more in my life.
32% savings rate, which I know is just a start. Plenty of belt tightening to do. Have to get the g/f (soon to be fiancee) (I hope) to buy in.
Only thing left to do is succeed. Boom!

Need2Save

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Re: 2024 FIRE Cohort
« Reply #60 on: March 24, 2017, 11:27:14 AM »
I'm officially joining the 2024 cohort.  We have refined our recent FIRE projections and this is now more realistic than the 2025 target.  However, no offense to you guys, but I'm still hoping for 2023!  Mid-2024 should be doable at the latest after we orchastrate final year-end bonuses and fill up our 401k contributions for possibly the last time! We will both be 51.

Blissful Biker

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Re: 2024 FIRE Cohort
« Reply #61 on: March 30, 2017, 11:25:41 PM »
Count me in for FIRE in 2024!  I'll be 51.

We paid off our mortgage a few months ago and it feels great to be totally debt free.  The plan allows me to continue working just 3 or 4 days a week to enjoy my kids and riding my bike in the sunshine.   I am balancing enjoying today and enjoying the future.

Net worth of $1.2MM CDN, plus $100K saved for the kids education.

I am checking in almost a year later and still on track for 2024. 

Net worth of $1.4MM CDN, plus $120K saved for the kids education.  It's been a good year.


andrewenz

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Re: 2024 FIRE Cohort
« Reply #62 on: March 30, 2017, 11:52:46 PM »
I'm aiming for 2024 as well.  I'm technically already FI but I love my job - I'm in education.  Plan is to go half time in 2024 and enjoy some fatfire.


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Need2Save

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Re: 2024 FIRE Cohort
« Reply #63 on: March 31, 2017, 01:43:11 PM »
fatfire? I have no idea what that is.  or is it enjoy fat-tire?

Please do tell - maybe it's something we are all missing out on. ;-)

neo von retorch

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Re: 2024 FIRE Cohort
« Reply #64 on: March 31, 2017, 01:46:23 PM »
I'm guessing it's FIRE... but "fat" i.e. you have excess money to throw around :)

andrewenz

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Re: 2024 FIRE Cohort
« Reply #65 on: March 31, 2017, 04:40:56 PM »
I'm guessing it's FIRE... but "fat" i.e. you have excess money to throw around :)

Yep, on Reddit FIRE is broken into lean fire, fire and fat fire.




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neo von retorch

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Re: 2024 FIRE Cohort
« Reply #66 on: April 21, 2017, 01:39:44 PM »
How's everyone coming along so far? My wife and I are tentatively going to "abandon ship" and sell our house in five years, at which point, we could probably make early retirement work via slow RV travel for a while and settling in a nearby LCOL.

I switched from using spreadsheets to my own custom software, but it's lacking some of my spreadsheet forecasting at this point. But before making the switch, 2024 was looking pretty reasonable with all of my assumptions (including staying the course/keeping our current home.)

But - updating my spreadsheet after logging quarterly investment gains (Q1 2017)... that was encouraging :)

jlcnuke

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Re: 2024 FIRE Cohort
« Reply #67 on: May 08, 2017, 12:04:23 PM »
I'm in for FIRE class of 2024 as well. Current savings rate is 54.6% of base pay. It tends to stay about the same when I work overtime as well since I tend to split that between additional savings and additional spending pretty evenly. My calculations (including Firecalc, FIDO planner, etc) currently show a 95%+ probability in 2024, but I may also decide to do a bit of part time working when I get closer so I might do a partial retirement earlier and full retirement slightly later. Or the markets could hurt my plan and I could go later. We'll see what the future brings as it comes.

Kakashi

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Re: 2024 FIRE Cohort
« Reply #68 on: May 12, 2017, 01:59:44 PM »
Joining this cohort. 

novotnjm

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Re: 2024 FIRE Cohort
« Reply #69 on: May 30, 2017, 11:19:15 AM »
I'm in! 2/2/2024 will mark 11 years at my company, and I'll be 37 (not old ;). Spreadsheet that I've kept for that past year leads me to think we'll have more than what's needed to keep same level of expenses as we currently have. Whether to sell the house and move to a lower cost of living city will be a big question. Currently maxing out my 401k, and both my wife's and my Roth IRA. Trying to decide what to do with next chunks of money, and leaning towards putting it toward the mortgage rather than opening a non-tax advantaged investment account.

MVal

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Re: 2024 FIRE Cohort
« Reply #70 on: June 02, 2017, 12:21:02 PM »
This is the closest cohort option for me. Too many unknowns at this point to say for sure whether it will be 2024 or a couple years later, but posting to follow along to gain ideas and perspectives.

Same here. I'll be done in 2023 or 2024 if the market behaves and I keep at the same savings rate. Still seems impossibly far away, but I must admit I'm amazed at how far I've gotten, (six figures!) in just the last 2-3 years I've been doing this.  I can't imagine doing what I'm doing right now for another 5+ years, so I may have to explore other jobs just to keep from going nuts, but this is working out well so far, at least benefit wise.

ScottsdaleSaver

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Re: 2024 FIRE Cohort
« Reply #71 on: June 02, 2017, 04:20:15 PM »
Count me in for 2024 as well!

My husband and I have a lot of variables that could help/hinder, but this is my best guess for now. In 2024, I'll be 44 and he'll be 42. He most likely will keep working as he's just finishing up a doctorate in education now and it's his passion/life's work to reform the system from within. I'm an accountant and would probably still pick up work on the side, but on my terms.

We recently started saving aggressively outside of our tax-advantaged accounts (after maxing out the tax-advantaged accounts, obviously). This is the point FIRE started seeming very real to me - it's one thing to have a healthy 401k balance, it's another entirely to me to see that pre-official-retirement balance waiting for us.

I'm curious - what was the "Aha!" moment for others?

brooklynmoney

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Re: 2024 FIRE Cohort
« Reply #72 on: November 21, 2017, 07:47:47 PM »
I am aiming for 2024 (if I can hold on that long working and not go crazy). I will be 50 years old then. I know itís not that early for these parts but it still seems a long time to have to find health insurance without Medicare. So we shall see what the future brings.

froggie

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Re: 2024 FIRE Cohort
« Reply #73 on: December 23, 2017, 05:48:19 AM »
You all are my people!!!
If all goes well, I'll graduate in 2024 too. I will be just past 40 years old.

mspym

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Re: 2024 FIRE Cohort
« Reply #74 on: January 06, 2018, 03:19:13 AM »
Aiming for 2024- the kids will be off to uni and we will be turning 50, which will be 10 years or so since I read the entire Money Mustache back catalogue in a 3 month period and we pulled a complete 180.

This weekend I ran the numbers and even if we just leave the current investments/Super where they are, we would be in a great place to retire at 65. It's such a relief to have hit that baseline level of security. My savings rate, ex super, has increased from 67% to 75% of my net income so should be on track for 2024.

Phryne

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Re: 2024 FIRE Cohort
« Reply #75 on: May 10, 2018, 03:28:19 AM »
Me too! That will see me with 25 years at the same work place! Planning to be FI 3 years prior, so may not make that anniversary. I'll be 48

Am bowing out of this year and joining the 2023 Cohort, aiming for Oct 1 2023.
It may seem strange for a hard date so far in the future, but I like a cleary defined goal!

Blissful Biker

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Re: 2024 FIRE Cohort
« Reply #76 on: May 14, 2018, 06:06:43 PM »
Count me in for FIRE in 2024!  I'll be 51.

We paid off our mortgage a few months ago and it feels great to be totally debt free.  The plan allows me to continue working just 3 or 4 days a week to enjoy my kids and riding my bike in the sunshine.   I am balancing enjoying today and enjoying the future.

Net worth of $1.2MM CDN, plus $100K saved for the kids education.

I am checking in almost a year later and still on track for 2024. 

Net worth of $1.4MM CDN, plus $120K saved for the kids education.  It's been a good year.

Checking in a year later and still on track for 2024.  Maybe even a little sooner if the market winds blow in our direction. CfireSIM is giving us an 88% success rate for 2024.  Could I live with less certainty?  Maybe. I think so, but it's hard to know for sure until you are about to step out the door.

Net worth of $1.6MM CDN plus $130K saved for the kids education.  Another good year.


techwiz

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Re: 2024 FIRE Cohort
« Reply #77 on: May 16, 2018, 12:33:22 PM »
Count me in for 2024. Planned date May 27th, if all goes well. 


Update only 2064 days until FIRE
« Last Edit: October 02, 2018, 06:26:57 AM by techwiz »

Nangirl17

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Re: 2024 FIRE Cohort
« Reply #78 on: May 22, 2018, 09:59:53 AM »
I'm hoping for 2024 to be fully retired at age 45. I just went to part time work though, and haven't yet experienced how much we can save at this level etc. So it may be a year or two on the optimistic side. (I have no idea how to use a spreadsheet that I keep reading about so I am relying on firecalc etc)

With the market doing so well, it hasn't been a problem going part time - we're still on track for 2024. (And my DH can probably retire in 2022).

I'm thinking about working a couple of extra years so we can travel North America in an RV, but we'll see where life takes us! =)

Need2Save

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Re: 2024 FIRE Cohort
« Reply #79 on: September 02, 2018, 05:38:16 AM »
I'm officially joining the 2024 cohort.  We have refined our recent FIRE projections and this is now more realistic than the 2025 target.  However, no offense to you guys, but I'm still hoping for 2023!  Mid-2024 should be doable at the latest after we orchastrate final year-end bonuses and fill up our 401k contributions for possibly the last time! We will both be 51.

Sorry guys...officially joining the 2022 thread today. Does that make me a cohort hopper? Our conservatism continues to pay off and looks like middle of 2022 is our new target date.  I think I'm naturally too careful about our assumptions.  Good luck to all and hoping you all continue to hit your savings goals!

techwiz

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Re: 2024 FIRE Cohort
« Reply #80 on: September 03, 2018, 07:12:13 PM »

Sorry guys...officially joining the 2022 thread today. Does that make me a cohort hopper? Our conservatism continues to pay off and looks like middle of 2022 is our new target date.  I think I'm naturally too careful about our assumptions.  Good luck to all and hoping you all continue to hit your savings goals!

Congrats moving to a earlier cohort. I don't see any problem with being a cohort hopper (plans change) and it sounds like you are doing well.

Best of luck to you.

ItsALongStory

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Re: 2024 FIRE Cohort
« Reply #81 on: September 08, 2018, 10:23:02 PM »
Long ways out but hoping to make the leap in July of 2024.

Only recently started reading up on this FIRE stuff so lots to learn but with basically a year and a half's worth of saving I should make some good headway in the next few years even without counting on market returns. Retiring to a lower cost of living area (Europe) also allows me to expedite the window by quite a bit.

FIwaysandByways

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Re: 2024 FIRE Cohort
« Reply #82 on: October 01, 2018, 09:08:13 PM »
Summer of 2024 is the plan right now. My wife and I will be 57. We still need to meet some savings goals and would like to make a downsizing move in the next year or two. It sure helps to read about others experiences!

techwiz

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Re: 2024 FIRE Cohort
« Reply #83 on: November 06, 2018, 12:47:50 PM »

2029 days until retirement

I know I am having a bad day at work when I update my retirement countdown timer!