Author Topic: 2025 Fire Cohort  (Read 90808 times)

Laura33

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Re: 2025 Fire Cohort
« Reply #350 on: January 21, 2020, 06:53:00 AM »
Yep, still in.  Finances are on track (knock on wood), last kid will be off in college; now we have to figure out the "what do we want to do" bit.  In particular, DH is really wrapped up in a cool advanced tech project at work, so there's a real question whether he'll be willing to step back at that point.  But maybe he'll be sufficiently sick of the politics and bullshit by then.  ;-)

TomTX

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Re: 2025 Fire Cohort
« Reply #351 on: January 21, 2020, 06:21:22 PM »
Still in - if I last that long ;)

Sapphire

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Re: 2025 Fire Cohort
« Reply #352 on: January 22, 2020, 08:08:33 PM »
We are also in - although much like your DH Laura, my DH is involved in some stuff at work that keeps him very entertained.  I am of the view that if he wants to keep going, that's okay and in fact it might be kind of nice to have a bit of time at home before he joins me. 

Steady as we go (although with our Aussie stock market looking frothy at the moment we've had some big increases recently which is nice to look at) ;)


Laura33

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Re: 2025 Fire Cohort
« Reply #353 on: January 23, 2020, 06:24:21 AM »
@Sapphire -- my fear is that I'll get sucked in, too.  Once I got my depression under control, I started really enjoying my job again.  I am still ready to just stop and slow travel, but the idea of sitting at home not working is probably not a good idea for me (I know a lot of people love it, but I tend toward sloth if I don't have an externally-imposed deadline, and sloth leads back to a bad mental place).  So as a practical matter, I don't think it's a good idea for me to retire before DH.

Of course, maybe I'll find some sort of volunteer something that I really enjoy.  But then I think: I'd probably be a volunteer lawyer because that's my skillset.  So I'd be doing what I do now, for free.  And I really love the people I work with and enjoy the work I do, so if I'm going to do the same thing, why not get paid for it?  Which brings me right back to "I don't think it's a good idea for me to retire before DH."  ;-)

In the meantime, I very much enjoy knowing that I can quit if I want to.  And DH enjoys that, too -- helps put work frustrations into perspective.

wienerdog

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Re: 2025 Fire Cohort
« Reply #354 on: January 24, 2020, 01:46:23 PM »
Still on track for me.  I turn 50 this year so I have upped my 401k to 26k.  The spreadsheet at the end of 2019 said 11.23x and projected Dec 2024 (1782 days) at a 4% withdraw rate and 6% average return rate.  Vanguard says my average is 9.7% since 6/1/2015 when I decided I needed a plan.

Now as things get closer do you start to adjust the portfolio or stay the course?  I am putting more money in my 401k now but I run it in a 2050 Target Date fund which is only 5% bonds right now.  Right as it sits now I would still pull the trigger in 2025 so I can draw right from 401k as it is around 1% fees.  Spending was up in 2019 from 2018 by about 9% so need to bring that back down.

« Last Edit: January 24, 2020, 02:03:35 PM by wienerdog »

Sargemo

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Re: 2025 Fire Cohort
« Reply #355 on: January 28, 2020, 10:17:05 AM »
First time poster her and I am joining up with the 2025 Cohort, if you will have me!  I am 48 and DW is 45.  We have three kids - two at home and 1 in college.  We will likely be empty nesters (with one still in college) starting in 2025 as well.   Current situation will allow me to draw from deferred comp programs starting in 2025.  My liquid 'stache is ~16.5X my expenses now and I have plans on paying off the mortgage within the next 2 years. 

I have been on the mega corporate track for 20+ years and have become somewhat numb to my true work passions and interests.  Mostly, I am looking to change paths, rather than fully retire.  Not sure what path to take but look forward to that journey when it starts.  FI will help make that a reality.   

TomTX

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Re: 2025 Fire Cohort
« Reply #356 on: January 28, 2020, 07:20:07 PM »
Hi, Sargemo!

Question: What's your 'stache multiple if you eliminate the mortgage payment from your expenses?

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Re: 2025 Fire Cohort
« Reply #357 on: January 29, 2020, 05:17:00 AM »
Still in.  My date has nothing to do with Stach and everything to do with my Pension.  I got to FI this year which makes going to work both easier and harder.  Easier because I can say FU at any time harder because when things are annoying I'm like why the fuck am I here. Right now I'm trying to last through a bad boss please god promote back to HQ or something.

Malcat

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Re: 2025 Fire Cohort
« Reply #358 on: January 29, 2020, 07:10:10 AM »
I'm pretty much out.
I've been medically retired from my profession, so it's all pretty irrelevant now. DH wants to wait until he gets his full pension anyway, which is more than we need, and that will be in 2033.

Until then, I'm free to do whatever I want to.

Like Laura, I don't really want to be retired before him, but I physically cannot stay in my profession, I actually do not do respond well to external pressure/deadlines and am much more driven by my own internal pressure. I become dangerously over productive if left alone for too long.

I actually need structure to keep me less productive.
I've worked very little for nearly 6 weeks and I'm starting to feel like a pressure cooker.

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Re: 2025 Fire Cohort
« Reply #359 on: January 29, 2020, 09:37:34 AM »
Malkynn, is there some volunteer origination or hobby or several of them that can provide you with the structure you need?  I look to my parents, Dad volunteers at 2 different places on Tuesday and Wednesday and has a weekly club meeting on Thursday so he has some structure.  Mom volunteers for 3 mornings a week again with 3 different places so she only had one morning at each place.

Malcat

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Re: 2025 Fire Cohort
« Reply #360 on: January 29, 2020, 10:11:47 AM »
Malkynn, is there some volunteer origination or hobby or several of them that can provide you with the structure you need?  I look to my parents, Dad volunteers at 2 different places on Tuesday and Wednesday and has a weekly club meeting on Thursday so he has some structure.  Mom volunteers for 3 mornings a week again with 3 different places so she only had one morning at each place.

lol, oh, you mean on top of the multiple volunteer roles I currently hold?
Yes, I could volunteer more, but that too tends to drive me into excessive productivity. By structure, I don't mean in terms of my schedule, I mean in terms of my mental structure. I naturally moderate regular paid work, but I have a really hard time imposing limits on volunteering, learning, etc.

My ideal is a job that I could do indefinitely, part time, on my own terms, working autonomously and independently, that's flexible, portable, does a public good, is incredibly challenging but doesn't feel like work, and would be very valuable in a lot of volunteer scenarios. Basically, exactly what my existing job is, except without the part where it's permanently, literally crippling me.

I think I might retrain in a different healthcare profession. I'm only in my 30s, and my medical condition doesn't limit me from working, just from working in my profession. I've got a lot of years left to keep myself out of trouble, otherwise I'll end up learning fucking Inuktitut and Finnish.

Laura33

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Re: 2025 Fire Cohort
« Reply #361 on: January 30, 2020, 06:38:50 AM »
I'm pretty much out.
I've been medically retired from my profession, so it's all pretty irrelevant now. DH wants to wait until he gets his full pension anyway, which is more than we need, and that will be in 2033.

Until then, I'm free to do whatever I want to.

Like Laura, I don't really want to be retired before him, but I physically cannot stay in my profession, I actually do not do respond well to external pressure/deadlines and am much more driven by my own internal pressure. I become dangerously over productive if left alone for too long.

I actually need structure to keep me less productive.
I've worked very little for nearly 6 weeks and I'm starting to feel like a pressure cooker.

Really sorry to hear about the medical issues; that's a tough blow.

This is just further confirmation that you and I are flip sides of the same coin:  I need structure, desperately, to make me get off my ass and do anything.  ;-)  My propensity for sloth is frightening.  Alas, that is quickly followed by the guilt of "if only you'd lived up to your potential" and the depression of not mattering because I'm not doing any of the things that make people matter.  I will need some sort of purpose and structure in retirement just to protect me from myself.

poniesandFIRE

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Re: 2025 Fire Cohort
« Reply #362 on: January 30, 2020, 06:51:23 AM »
Still in over here. We're a little behind where I wanted to be coming out of 2019, but we've made the decision to sell our giant house and majorly downsize, which should propel us forward in 2020. Fingers crossed for an offer on our house soon!

Malcat

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Re: 2025 Fire Cohort
« Reply #363 on: January 30, 2020, 07:04:02 AM »
I'm pretty much out.
I've been medically retired from my profession, so it's all pretty irrelevant now. DH wants to wait until he gets his full pension anyway, which is more than we need, and that will be in 2033.

Until then, I'm free to do whatever I want to.

Like Laura, I don't really want to be retired before him, but I physically cannot stay in my profession, I actually do not do respond well to external pressure/deadlines and am much more driven by my own internal pressure. I become dangerously over productive if left alone for too long.

I actually need structure to keep me less productive.
I've worked very little for nearly 6 weeks and I'm starting to feel like a pressure cooker.

Really sorry to hear about the medical issues; that's a tough blow.

This is just further confirmation that you and I are flip sides of the same coin:  I need structure, desperately, to make me get off my ass and do anything.  ;-)  My propensity for sloth is frightening.  Alas, that is quickly followed by the guilt of "if only you'd lived up to your potential" and the depression of not mattering because I'm not doing any of the things that make people matter.  I will need some sort of purpose and structure in retirement just to protect me from myself.

You never know how your brain will react once you decompress though. I had no idea that I had this problem until I had too little work to do to keep me busy and tired.

That's why I know that work keeps me more lazy and mellow. It's only once the work shackles were off that I started realizing I had a problem.

I have to say, that is a plus side of having a rare genetic disease that severely limits my capabilities, the whole pressure to "fulfill my potential" is silent now. Now it's "simmer down there Little Engine That Could, you actually can't, so go read a book or something."

Malcat

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Re: 2025 Fire Cohort
« Reply #364 on: January 30, 2020, 07:04:31 AM »
Still in over here. We're a little behind where I wanted to be coming out of 2019, but we've made the decision to sell our giant house and majorly downsize, which should propel us forward in 2020. Fingers crossed for an offer on our house soon!

Amazing.
We just downsized our place 6 months ago and absolutely love it.

Sargemo

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Re: 2025 Fire Cohort
« Reply #365 on: January 30, 2020, 01:57:58 PM »
Hi, Sargemo!

Question: What's your 'stache multiple if you eliminate the mortgage payment from your expenses?

Good question and it looks like I might have mis-written above.  The 16.5x is after the mortgage is paid off.  But I expect it will increase over the course of the next two years to ~20X through additional savings.

TomTX

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Re: 2025 Fire Cohort
« Reply #366 on: January 30, 2020, 05:47:40 PM »
Still in.  My date has nothing to do with Stach and everything to do with my Pension.  I got to FI this year which makes going to work both easier and harder.  Easier because I can say FU at any time harder because when things are annoying I'm like why the fuck am I here. Right now I'm trying to last through a bad boss please god promote back to HQ or something.

It is a good question. If you're FI, why the fuck are you there?

If you're enjoying it - great!

If not, GTFO. If you want to work, do it somewhere more enjoyable. Or go hike the Appalachian Trail. Or spend time lobbying your politicians. Whatever floats your boat.

Sandi_k

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Re: 2025 Fire Cohort
« Reply #367 on: February 02, 2020, 08:59:00 AM »
Still in! Got a major upgrade in salary in 2019, due to being headhunted.

The result is that we'll have even more disposable income in retirement. We are now officially aiming for FatFire. The reason I don't advance the retirement date is entirely due to my pension - the minute I turn 60, the multiplier goes to 2.5% x (years of service + unused sick leave). It's a big jump in the algorithm, and I am loath to leave at 1.9%, since I can calculate what 30 years of retirement income loses, based on those figures.

Secondly, if I hold on until Nov. 2025, it means DH will have full COBRA available to him until Medicare eligibility kicks in, and I would only have to be on the ACA market for 2 years. I plugged in our numbers for "Covered California" for a Silver plan...jaw dropping premiums with a pension. Even a Bronze HMO plan is estimated at $35k per year for the two of us. In contrast, COBRA would only be $18k per year for the both of us.

So yep: locked in for November 2025 here.

FatFI2025

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Re: 2025 Fire Cohort
« Reply #368 on: February 02, 2020, 11:49:00 AM »
If all goes according to plan, I'll be FI in early 2025 and my plan is to leave corporate life in Sep 2030 at 45 y/o if I can last that long. I started tracking NW in 2013, but didn't get mustachian dialed in until end of 2016. Currently putting 73% of after tax income towards NW growth, but that's due to a lucky income situation that may not last. Hoping that recording some NW multiplier goals doesn't jinx my current financial situation!

My actual/projected end-of-year multiples are:

2013: -1.1x
2014: -0.9x
2015: 0.3x
2016: 1.8x
2017: 2.4x
2018: 2.9x
2019: 5.0x
2020: 7.8x
2021: 11.2x
2022: 14.8x
2023: 18.7x
2024: 22.0x
2025: 26.8x

dougules

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Re: 2025 Fire Cohort
« Reply #369 on: February 03, 2020, 09:57:46 AM »
Today is 5 years to the day from Monday 0.  That's kind of exciting.  I honestly think we'll get there before then, even.

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Re: 2025 Fire Cohort
« Reply #370 on: February 04, 2020, 09:29:29 PM »
Hi Cohort, I had a hiccup last week - I was terminated.  Losing a job I liked sucked, but not for long: DH and I have reached FI this month, with about 30x of our current spending saved.  I plan to find another job and I can afford to be selective.  I want to work for some extras and DS college money during the next five years.

MrThatsDifferent

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Re: 2025 Fire Cohort
« Reply #371 on: February 05, 2020, 01:47:32 AM »
Hi Cohort, I had a hiccup last week - I was terminated.  Losing a job I liked sucked, but not for long: DH and I have reached FI this month, with about 30x of our current spending saved.  I plan to find another job and I can afford to be selective.  I want to work for some extras and DS college money during the next five years.

Sorry to hear, that sucks! Awesome that youíre FI and donít need to stress. All the best with the next role.

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Re: 2025 Fire Cohort
« Reply #372 on: February 05, 2020, 04:49:50 AM »
Still in.  My date has nothing to do with Stach and everything to do with my Pension.  I got to FI this year which makes going to work both easier and harder.  Easier because I can say FU at any time harder because when things are annoying I'm like why the fuck am I here. Right now I'm trying to last through a bad boss please god promote back to HQ or something.

It is a good question. If you're FI, why the fuck are you there?

If you're enjoying it - great!

If not, GTFO. If you want to work, do it somewhere more enjoyable. Or go hike the Appalachian Trail. Or spend time lobbying your politicians. Whatever floats your boat.

Lifetime subsidized health insurance.  Staying in to 2025 keeps me in the Federal employee Health Benefit System.  My HDHP insurance is +/- $1500 a year with $900 passing through to my HSA a traditional plan will be between $2000-3000 and I don't have to switch fully medicare at 65. 

I do still like my job mostly, every month I decide that the Health Care Benefit is still relevant, if it comes to the time when the suck outweighs that I will quit.

Bird In Hand

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Re: 2025 Fire Cohort
« Reply #373 on: February 08, 2020, 03:07:25 PM »
@SaucyAussie took me off the active list, but I'm still kicking around.

2025 is probably in the ballpark, so I'll join.  DW and I will be in our upper 40's then, which still counts as RE I think.

We've saved 19x-23x our expected retirement expenses, with the range representing a slightly higher down to slightly lower standard of living.  If we include our mortgage equity, we've saved 23x-28x.

If we keep making the same mortgage payments that we have been making for the last ~7 years, the mortgage should be gone in ~3 years.  At that point we could afford to drastically increase our after-tax savings, or downshift and coast ESR-style while our 'stache (hopefully) grows to a number that screams 'RE!' to us.

It's funny to see how things line up (or not) with plans made a few years ago.  We've revised our anticipated spending upward, but there's still a lot of uncertainty about that.  Our oldest will be entering college in 2025, and we could be paying tuition from ~2025-2035.  Our best guess is that our portfolio is currently 85% of what we think we'll need by 2025.

Our mortgage is now paid off (as of today!), and that means we can save more, spend more, work less, or some combination.  I think it will be some combination.  We're going to bolster our non-investment savings so that all the major systems in the house (HVAC, roof, driveway, etc.) have a replacement fund.  We're probably going to do a couple renovations around the house.  And soon, possibly later this year, I intend to switch to an 80% schedule at work.

My wife and I both like our jobs, and we don't intend to actually quit our jobs in 2025 (or at any particular point).  At the same time, we both want a more relaxed pace and a bit more free time for personal pursuits.  So the next phase will be to gradually downshift our work hours.  Ideally I'd be down to ~60% by 2025.  But these are just my current thoughts, and are subject to change at any time and for any reason.  :)

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Re: 2025 Fire Cohort
« Reply #374 on: February 09, 2020, 07:33:17 AM »
Hi Cohort, I had a hiccup last week - I was terminated.  Losing a job I liked sucked, but not for long: DH and I have reached FI this month, with about 30x of our current spending saved.  I plan to find another job and I can afford to be selective.  I want to work for some extras and DS college money during the next five years.

Timing is everything, and your timing is impeccable; congrats!

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Re: 2025 Fire Cohort
« Reply #375 on: February 10, 2020, 06:28:57 PM »
Proud to still be in the 2025 cohort with two of the best posters on the forum, Malkynn and Laura33

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Re: 2025 Fire Cohort
« Reply #376 on: February 11, 2020, 06:17:25 AM »
I am going to throw my hat into the ring with this cohort. I believe i'm on track for 2025 though I can't say i've tried to nail down a date with any sort of certainty at this point.

By my calculations as of April 1st I am 42.98% of the way towards my number (11.19 X expected expenses). This includes everything in my investment accounts.

I do have other assets but they will not be included in my calculations.

First post in here for a while.

I'm now over 50% of my target number as of February 1st so things are progressing.

I did buy a house at the back end of last year so that has knocked down the net worth number somewhat. I have included mortgage payments in my post retirement budget so to me it doesn't overly change the retirement target.

The mortgage is up for renewal in 2024 so we'll see what it all looks like then but with the current low interest rate I have there is no desire to start paying it down any quicker.

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Re: 2025 Fire Cohort
« Reply #377 on: February 13, 2020, 03:07:11 PM »
Belatedly, I'm still in.

I'm not particularly active on the forums anymore but I'm at x10 expenses.

2025 is an aggressive goal so odds are I'll slid into 26-28 eventually.

MCL

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Re: 2025 Fire Cohort
« Reply #378 on: February 16, 2020, 12:39:42 PM »
Thinking 2025 is probably our best bet. Iíd be 41, wife would be 40, and our two kids would be in elementary. Weíre both self-employed so income and savings rate will vary a bit.

Annual Spend in FIRE: $45,000
Other Income: We have a 6-unit that we should be able to safely pull $15k/yr from while still putting aside a nice chunk for future repairs and maintenance
Current Investments: ~$225k in Vanguard taxable account (proceeds from downsizing house last year) & ~$75k in retirement accounts
Debt: House is paid off/no other debt

So we'll need about $750k in investments above and beyond the rental (wife will continue to work so this doesn't need to be exact). Should hopefully hit that number in 2024 but would like a little extra cushion to be sure.

Staunch Aim

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Re: 2025 Fire Cohort
« Reply #379 on: March 05, 2020, 08:28:50 PM »
All forecasting points to 2025 as the year in which I'm most likely to hit my number.  That would put my FI journey at ~10 years total.

Lot's of living to do between now and 2025!  I have to remind myself of this so I don't fall prey to just checking off the days and watching my stash grow.

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Re: 2025 Fire Cohort
« Reply #380 on: March 28, 2020, 07:22:21 AM »
Just checking in, as I haven't posted in a year in this thread. Still on track for 2025.

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Re: 2025 Fire Cohort
« Reply #381 on: March 28, 2020, 10:39:51 AM »
I've gone from "maybe as soon as late 2022" back to "early-mid 2025" in my spreadsheets. So it goes using flat 6.7% returns for modeling. Not bummed about it, fully acknowledging that e.g. CAPE-based % projections probably makes more sense. For me it's about hitting a number so no real changes to what I do in the meantime anyway.

FatFI2025

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Re: 2025 Fire Cohort
« Reply #382 on: March 28, 2020, 11:23:23 AM »
I've gone from "maybe as soon as late 2022" back to "early-mid 2025" in my spreadsheets. So it goes using flat 6.7% returns for modeling. Not bummed about it, fully acknowledging that e.g. CAPE-based % projections probably makes more sense. For me it's about hitting a number so no real changes to what I do in the meantime anyway.

That's how my model works too -- flat, average returns every year, so I have the same issue. But I've only shifted a couple months at this point.

Anette

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Re: 2025 Fire Cohort
« Reply #383 on: March 28, 2020, 03:25:26 PM »
We are still on track but only because most of our money was still sitting around waiting to be invested. We have a hard time finding a bank that will let my husband ( American living in Germany) invest. Banks in Germany and the US are not letting him. So some of the money is invested in my name and for the rest we are continuously searching for a better solution.
But now while things were on sale I was able to buy in my name and I am looking to continue to do so!

Scrooge

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Re: 2025 Fire Cohort
« Reply #384 on: May 18, 2020, 02:56:41 PM »
Long time, no update...

A lot has happened since the beginning. I got actually so demotivated originally of having nearly ten years to get to 2025 goal that I managed to get a second job with a performance-based salary.

During the days I work in the financial administration of multinational-corporation. Steady job and a steady salary. However, I could only save 25 000 EUR from that job per year while having around 11 000 EUR of yearly costs. Not a bad percentage but takes too long still.

The second job. I'm an A/V translator with a per minute pay. I've done this now 2 years. Long story short, I've managed to save extra 100 000 EUR during these two years.

So, my net worth is currently 325 000 EUR. In theory I'm getting close to the minimum amount needed for retirement. The problem is that it's become really clear that a realistic goal is about 500 000 to have enough cushion to still make mistakes as well.

Anyway, the past 2 years has now made it so that I'll be pretty surely retired by 2025 at the latest even if I lose one of the jobs.

Anette

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Re: 2025 Fire Cohort
« Reply #385 on: May 19, 2020, 02:58:08 PM »
Sounds great Scrooge !
Our youngest daughter is really struggling with school and mental health. We are considering a boarding school with special ADD program and only ten students per class so that she can successfully finish school in the next three years. Since the school is very expensive ( for German standards) we would need to almost stop the extra fire savings. If we do that we will have to retire later. It is a hard decision for us.

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Re: 2025 Fire Cohort
« Reply #386 on: May 20, 2020, 10:38:41 PM »
Update from the job search front:  I found one!  There is a lot of hurt out there and I feel fortunate.  I started working again three weeks ago.  It's a contract position, hourly, 40 hours per week.  Flexible schedule and 100% work from home until who-knows-when.  The company is a giant international pharma conglomerate; perhaps I can get on their payroll and get all their benefit goodies in a few months? 

oneday

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Re: 2025 Fire Cohort
« Reply #387 on: May 20, 2020, 11:26:59 PM »
Update from the job search front:  I found one!  There is a lot of hurt out there and I feel fortunate.  I started working again three weeks ago.  It's a contract position, hourly, 40 hours per week.  Flexible schedule and 100% work from home until who-knows-when.  The company is a giant international pharma conglomerate; perhaps I can get on their payroll and get all their benefit goodies in a few months?

Excellent!

I've been on sabbatical (since before the pandemic), this gives me hope that I'll be able to find a job this summer.

Laura33

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Re: 2025 Fire Cohort
« Reply #388 on: May 21, 2020, 06:30:51 AM »
Congrats on the good news.  @Anette:  as someone else with an ADHD kid, my only regrets are the times I did not act when I should have.  If you can afford it, having your daughter somewhere where she is supported and set up to succeed is the best money you will ever spend.  Mine made it through -- just finished her first year in college and made the Dean's List -- but there was a lot of unnecessary anxiety and depression along the way, just from trying to function in a world that was not designed for people who thought like she did.  She had to learn coping skills on her own, which is stupid and unnecessary when there are trained, skilled people out there to teach them.

We remain on schedule.  DH looked at me the other day and said "only four more years until DS is out of the house."  I kind of can't believe it's down to that short a time, because I still feel like I'm in my 30s.  But yay!

Anette

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Re: 2025 Fire Cohort
« Reply #389 on: May 21, 2020, 11:09:55 PM »
@Laura33 Thank you. My feeling (and my MIL who is offering some help) tells me you are right,it just is hard to part with the money and to know this delays our fire plans.
At this time there is some hope (15% chance) the school authorities will pay for most of the school fee.

Laura33

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Re: 2025 Fire Cohort
« Reply #390 on: May 22, 2020, 07:13:18 AM »
@it just is hard to part with the money and to know this delays our fire plans.

Believe me, I understand!  But if there's one thing Suze Orman got right, it's "people first, then money, then things." 

Also keep in mind that the real secret/power/benefit of the FIRE attitude is the resilience it builds in you.  Yes, you have been hit with a difficult and unexpected challenge, and that challenge may well require you to change your current plan.  That's ok!  Because whatever you decide here, you have the skills and abilities to adapt and adjust and develop a new plan.  Life happens.  Shit happens.  And it's ok to be upset and to mourn the vision of the future life that you are forced to leave behind.  But there is no reason to add to your stress by worrying about the future, because you already have all the skills within you to build a new plan and a new future that will make you just as happy as the one that's gone away.

Really, the secret to FIRE isn't about FIRE itself.  It's about what you learn from the work you need to do to get there.

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Re: 2025 Fire Cohort
« Reply #391 on: May 22, 2020, 06:19:28 PM »
Not sure if I ever actually posted here.

I plan on getting out in 2025 (told my boss today) because I see no reason to work any longer.

even with the downturn, I'm right on track.

Goal is to retire with a yearly income of 90K. That's just for me.

Gone_Hiking

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Re: 2025 Fire Cohort
« Reply #392 on: May 22, 2020, 09:52:32 PM »
@oneday while job search might be challenging, it won't be impossible.   I waited for a few weeks before starting the job search and I'm glad that I did it at my own pace.  Would there be more open positions in early February?  Sure.  But sometimes waiting is what is needed.

Still shaking my head at the stock market.  I've noticed almost total recovery of some asset classes.   How is everyone's portfolio doing?

swashbucklinstache

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Re: 2025 Fire Cohort
« Reply #393 on: May 23, 2020, 08:16:55 AM »
Still shaking my head at the stock market.  I've noticed almost total recovery of some asset classes.   How is everyone's portfolio doing?

I peaked at around 530k, dipped down to the 360s, and am back to 512 today. If we start from around 2/20...
Moves:
1) Finished 401k + got 2019's match by 3/20: 20k
2) Maxed Roth IRA on 3/12: 6.5k
3) Bought taxable:
3/11: 3k
3/12: 3k
4/7: 2k
4/16: 1k
4/22: 2.5k
5/7: 2k
5/11: 1k
4) saw private company stock contributions + growth: 20k

All in US or international vanguard stock funds aside from the company I work for, which I can't get out of. If you're thinking that looks suspiciously like "invested money as it came in the door" you might be right =). I'm still bracing for a precipitous drop, but only emotionally. May the odds ever be in our favor.

I've swung from hitting the number in 2022, back to 2025, and now back to 2023. Interestingly, if I wanted to live with my reduced expenses this year I'd be less than 3k away from FI at 4% =). Doesn't change the plan, but fun to think about!
« Last Edit: May 23, 2020, 08:22:38 AM by swashbucklinstache »

moresprinkles

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Re: 2025 Fire Cohort
« Reply #394 on: July 09, 2020, 06:02:09 PM »
Iím in. Fuck yeah. Feels great to put a finger on it. I see slow travel in my future.


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Re: 2025 Fire Cohort
« Reply #395 on: July 10, 2020, 06:09:18 AM »
Iíve mentioned before, Iím a 2025 Cohort because of pension considerations.  Iím Coast FIRE at this point on my investments to supplement my pension, meaning I donít have to invest another dime and Iím still good to retire in 5 years and 7 days (Iím eligible on July 17, 2025 specifically).  Iíll be 47 at retirement.  Because I donít need to focus on saving as much as possible now, Iím more thinking about how I want my life to work in these last 5 years and what could be fun within my career.  Iím considering changing offices to HCOL San Francisco next year.  My pay would go up, but not by enough to have the same traditional standard of living as my midsized Midwest city bone the other hand I wont be struggling to get buy either. 

Iím single so living in a studio or one bedroom is fine vs my current traditional house.  Iíd also rent vs. buy because I know I have no desire to remain in the city proper after I retire.  Iíd mostly just use a work paid for transfer to let me explore the west coast more easily on my down time for 3.5 years.  On the financial side, Iíd be lump summing the equity in my current house into my taxable accounts (no desire to convert my current house into a rental), Iíd still max out my tax advantaged accounts (TSP, backdrop Roth, HSA) but I probably wouldnít invest another dime in my after tax account.  The move would also result in a starting pension 15% higher which will more than make up for not investing after tax for the last 3.5 years of my career.

on the road

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Re: 2025 Fire Cohort
« Reply #396 on: July 20, 2020, 01:42:13 PM »
Hi Friends! Count me in for 2025. I've been saying it to myself for so long... it feels great to say it out loud!

kevinb421

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Re: 2025 Fire Cohort
« Reply #397 on: August 04, 2020, 03:02:32 PM »
With COVID considerations, changes in business and the decision to have my wife stay at home starting January 2021 we have decided that my retirement date will be July 2025.

We could leanfire today, but things would be tighter than we are comfortable with. I also have a great paying job that is pretty easy so there is no need to rush.

July 2025 - Feels good to have a solid date!

LWYRUP

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Re: 2025 Fire Cohort
« Reply #398 on: August 07, 2020, 07:10:28 AM »
I'm going to join this group.  I don't know where I'll be in five years.  Some things could happen to accelerate wealth compounding (new job that pays more, DW goes back to work) and other things could happen to slow it down (recession, job loss).  I also don't know if our spending will rise or fall.

But here I am.  It's a nice, round number.  Five years is a large enough block to think in.  Six years seemed too long to be motivating and four years seemed like not enough time. 

I could FIRE now by moving (to a different city) and cutting expenses so I guess I am a somewhat SWAMI now?  But I am not FIRE based on current lifestyle and have some big liabilities to plan for (three college tuitions).  We're just in a pandemic holding pattern right now.  My medium term goal is to try out some new positions within my career and see if those motivate me to keep going more.  If they do, then I'll stick with that.  If they don't, at least the challenge will distract me until I am ready to really pull the trigger. 

In January I think I'll do some real number crunching based on a real FIRE in place scenario just for curiosity sake.  But this group feels right in the meantime. 

Sandi_k

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Re: 2025 Fire Cohort
« Reply #399 on: August 14, 2020, 03:56:58 PM »
Well, it's a good thing I got that bump last year; merits are frozen this year. But the market continues to be good. We're now at 19.5x expenses, and we're closing in on our target. In fact, DH and I have discussed pulling the trigger earlier if we want to...

I get a new boss next July. If it's someone I hate, what would it take to leave? The golden handcuffs are real, and leaving before I hit 60 means that the pension income would take a big hit - from today to 2025, the payments increase by 50%!!!

So 2021 means 10% more; 2022 means 20% more; 2023 means 30% more; 2024 means 40% more. Somewhere in that progression, I may have had enough.

For now, we're still planning on 2025. But progress continues, my comrades!


Since June 2018, I've had two merit bumps, and one equity adjustment at work - resulting in a 21% total pay raise in the past 16 months.

Of course, savings has gone up promptly, and the market has been good.

We're now at 18x expenses, but the "golden handcuffs" mean that I still plan to work until 2025. My job is decent, with good staff, a lot of autonomy, and a lot of flexible time. So I don't want to rush off prematurely, and truncate the pension income forever.

We're segmenting our savings into "bridge funds" for age 60-70, so that I can delay claiming SocSec until age 70; DH will probably claim at FRA, in 2030.

Fat Fire is now our goal, and it's looking pretty good, with 6 years to go.
« Last Edit: August 14, 2020, 04:14:01 PM by Sandi_k »