Author Topic: 2026 FIRE Cohort  (Read 20976 times)

Piwakawaka

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2026 FIRE Cohort
« on: December 25, 2015, 11:27:23 PM »

For all you 2026ers... of which I hope there are a few lurking around!

2026 is my FIRE date, based on a desire to retire at age 40 (age 30 now and a few months into serious mustache mode). In a few days (its boxing day 2015 as I write this), 2016 will roll in, beginning a decade long countdown! It'll be a long road, but no 45 years road at least ;)

dontwannaworkforever

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Re: 2026 FIRE Cohort
« Reply #1 on: December 26, 2015, 06:44:21 AM »
In! I plan to retire at 35. I will be 25 years old this coming New Years.

I'm aiming for a $750,000 stash. I'm 5% of the way there. In 2016, I'll be changing careers, purchasing my first home, and hopefully start my business as well once I get employment settled.


Davids

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Re: 2026 FIRE Cohort
« Reply #2 on: December 26, 2015, 09:50:04 AM »
2026 sounds like a potential FIRE year for me. I should hopefully be FI for 5-6 years at that point and then still working to build the stache buffer and then this would seem like a reasonable point then to hit the RE button.

elysianfields

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Re: 2026 FIRE Cohort
« Reply #3 on: December 26, 2015, 04:11:22 PM »
I'll qualify for my government pension in 2026, so it's the year my better half and I are targeting.  Our current net worth would probably meet most of our needs, and the pension and health insurance benefits make it worthwhile to keep stashing while we continue to enjoy our overseas adventures.  Good luck to all in our cohort!

A frugal millennial

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Re: 2026 FIRE Cohort
« Reply #4 on: December 26, 2015, 04:11:52 PM »
I could be FIRE by 2026 if I really push it, and am super frugal both during the accumulation phase and post-retirement. This is my first year of employment post grad school, I've got around 40K in student loans, and I'm making about 50k pre-tax. My husband is doing an internship, and will be going to grad school for his degree next year. I'll be 37 in that year. Even now, my goal is not to stop working entirely, but rather shift to a field that right now is not stable enough to support us, thus I intend to bring in a small amount of income even after I retire, so I don't feel the need to build up quite as big a stash as others.

The plan basically boils down to this:

1. Save 33% of my take-home pay for the rest of this school year, then 40% next year, and then 50% ever year after.

2. Do everything we can to save money. We're selling our very old-and often needs repairs- car, I'll commute by walking and he commutes by busing. We already cook everything from scratch at home, bring all our food with us, etc. I'm thinking about giving up data on my cellphone, or switching to another plan. We have a roommate moving in with us come January.

3. Find side income in addition to our primary jobs. I don't really know what all that will look like, but I have a few ideas.



Yankuba

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Re: 2026 FIRE Cohort
« Reply #5 on: December 26, 2015, 06:02:59 PM »
I'm shooting for 2026. I will have 25 years of federal service and am hoping for a VERA. My agency has been offering them every year so fingers crossed.

I am planning on a second career - something more enjoyable than what I do now.

Zamboni

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Re: 2026 FIRE Cohort
« Reply #6 on: January 10, 2016, 04:25:22 PM »
Count me in.

I will likely keep working until 2026. At that point my children will be finishing college and I can decide if I want to RE or semi-retire.

Dexterous

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Re: 2026 FIRE Cohort
« Reply #7 on: January 13, 2016, 09:58:13 PM »
It feels nice to have company with the same goal!!  :)  I joined the military in 2006, therefore 2026 is the earliest I can retire under the current system.  My wife and I invest over half our income, and get big pay raises next month so everything is going good so far.  We spent a lot of time focusing on finances during the last few years, and feel that is all on track so we've recently switched our focus towards being more healthy.  I've learned a lot from the "blue zones".

Upon retirement, we plan to buy a ~42' liveaboard yacht/sailboat and live on that part of each year.  If you guys are still members at that time you'll have to join us in the Caribbean for the celebration.  Cheers!

asauer

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Re: 2026 FIRE Cohort
« Reply #8 on: January 20, 2016, 01:44:43 PM »
2026 is our goal.  I'll be 47.  Kids will be off to college!  Right now we're focusing on paying off the mortgage which (god willing and the creek don't rise) should be November or December of this year.  That will give us quite a bit extra to invest!  We've already changed our lifestyle big time over the last 4 years but could use some additional optimization in the clothing and restaurant areas.  Hopefully, we can get those where they need to be this year giving us even more to 'stache away.

CanIndian

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Re: 2026 FIRE Cohort
« Reply #9 on: January 20, 2016, 01:59:28 PM »
I am targeting FIRE in 2026 too.

I am 34 and DW 28 with 2 very young kids. I will be 45 in 2026 and it is reasonably aggressive target to hit the FIRE date.
We are on track to hit 100K in a few months and if all goes to plan we should be 1MM+ by 2026.

NonprofitER

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Re: 2026 FIRE Cohort
« Reply #10 on: February 02, 2016, 08:54:13 AM »
We're in this boat as well.

2026 our child will be graduating from high school and we'll have paid off the house - our last two steps to FIRE. We'll be 43 and 44.

Net worth is $188,000 right now, including some home equity. Haven't yet decided if we'll downsize when we FIRE, but its a possibility.  We're looking to FIRE with $1MM, not including equity (which will conservatively be ~$400,000 - current market price, assuming no appreciation or major crashes).

KMMK

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Re: 2026 FIRE Cohort
« Reply #11 on: February 07, 2016, 12:47:50 PM »
It's too far away to say whether 2025, 2026 or 2027 is more appropriate for me. Either way, worst case scenario in 10 years I'll be down to part-time work - just enough to pay my bills, letting investments increase only. Best case scenario I'll be fully FIRE. I'll be 49 but my SO will only be 43 and plans to work until he is 54 or so. However, he gets tons of vacation time, so the sooner I can be part-time/flexible the better, so we can actually travel and do fun things. Right now I'd rather work part-time/seasonal for more years, rather than full-time and RE sooner, but I flip-flop on that one. I find work interferes a lot with my life. I'm still working on ways around that. At least my SO likes to do a lot more fun things than my ex did, so already life is better outside of work.

Financially my goal is to save at least $1,000/month in order to get where I want to be in 10 years. But that's not counting raises at all, and it seems unlikely that my salary won't increase over 10 years. I want about $600,000 to FIRE. 28% there.

Rhoon

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Re: 2026 FIRE Cohort
« Reply #12 on: February 15, 2016, 08:58:45 PM »
I'm targeting 2026 as well. Currently on course to be completely debt free (except the mortgage) in 5 years. Combined assets (pre downturn) were around $110K; probably took a $10K hit in the dip(trying not to look). Currently stashing away roughly 45% of my Net per year; in 5 years when everything is paid off (student loans, truck, solar panels -- no electric bill!), it'll be closer to 65%.

At that point we will determine whether I want to stash away for another year or two to try and pay off the house to rent it out or whether I sell it and move the family aboard a live-aboard boat (thinking either 38' Cat or 42' mono). My son's college education will also be covered by this time.

clarkfan1979

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Re: 2026 FIRE Cohort
« Reply #13 on: February 15, 2016, 09:42:58 PM »
This sounds like a good year for us to be FIRED on paper. I don't think we would actually retire because we like our day jobs. I am a college prof with 4 months off. That's enough time for us to travel. My wife is now a personal assistant for a financial planner. She works 3 days a week, works from home and can travel anytime. Our net worth in 10 years should be around 1 million plus a small pension. I don't think we would change anything, but we could at that point. We will see when we get there.

Reader

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Re: 2026 FIRE Cohort
« Reply #14 on: February 15, 2016, 10:11:49 PM »
I'm aiming for a simpler less stressful life in 2026. Semi RE is on the cards as i prefer to keep active with side income to avoid drawing on the stash for as long as feasible.

PseudoStache

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Re: 2026 FIRE Cohort
« Reply #15 on: February 19, 2016, 04:01:18 PM »
Just tuning in as this is the year my wife and I would like to FIRE.

I would say we are about a third of the way towards our number.

If things remain "status quo" I'd feel very confident in achieving this... but I just can't see me holding this job or finding something that generates the same level of income for the next ten years.

At the very least I hope to have FU money that allows me to something I really want to do.

Good luck to all!

NickleNurser

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Re: 2026 FIRE Cohort
« Reply #16 on: February 21, 2016, 08:24:40 PM »
I just found MMM in January, but my SO and I are ON BOARDDDDD!

We have the usual student loan debt and a car payment, but we have made major changes in the past 2 months and are seeing significant results. We guesstimate that we can be FI/RE in 10yrs which puts us in the 2026 cohort. We will be in our early 40s and plan to continue working part time.

We have future variables to consider--not yet married, want 1-2children, plan to buy a house. However, we also have moderate incomes and few expenses, so we're able to save a lot right now.

Cheers to ten more years!

Supernumerary

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Re: 2026 FIRE Cohort
« Reply #17 on: February 22, 2016, 05:55:24 AM »
Another 2026'er here! Might be 2025 - who knows, but if all goes according to plan then 2026 is the definite year.

Me and SO are getting out of college this spring (engineers), and have already realised that we enjoy travelling too much to buy in to the 40+ years "demanded" of us.

I'm very happy we have found the concept of FIRE so early in our lives.

Piwakawaka

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Re: 2026 FIRE Cohort
« Reply #18 on: February 24, 2016, 04:56:06 PM »
Major step today on the long road ahead; A few weeks ago I bumped up my contributions into my index fund investment portfolio significantly, to $20K per annum. The first monthly tranche of the amount has gone through and boy does it feel good! I imagine what crap I would have got / done with that money only a few years ago... as for now, what can I say! wealth creation is ridiculously satisfying!

bkmnky72

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Re: 2026 FIRE Cohort
« Reply #19 on: February 25, 2016, 12:41:17 AM »
Signing in.  It's ideally 2027 which will make DH and I 50 and 55 respectively. 

Our current NW is about $350K, which is mostly real estate, about 33/67. 

The goal is $1M NW, 50% or $500K in retirement $ or other non-real estate investments.


Sabby

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Re: 2026 FIRE Cohort
« Reply #20 on: February 25, 2016, 08:14:49 AM »
I stumbled onto MMM, and FIRE discussion on the internet last year with a help from a colleague. I've many things to do in the next few days, including

a) checking my portfolio mix,
b) calculating my NW,
c) creating a dividend portfolio,
d) checking the health of my current investments, and
e) setting some BHAGs for savings, and funding for this year and beyond.

Believe me, by writing this post I'm taking the next step (or leap) in my (and my family's) financial evolution.

Proud to say, last year was the first time i maxed our 401K, Roth+tIRA (+DW's), and HSA. Opened up a 529 on account of my daughter's birth 3 months ago, and started picking up some stocks to invest.

Aiming for FIRE by 2026.

tacosandbeer

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Re: 2026 FIRE Cohort
« Reply #21 on: March 08, 2016, 07:57:10 AM »
2026 here. Officially making it official. Here's to more time for tacos and beer!

Duchess of Stratosphear

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Re: 2026 FIRE Cohort
« Reply #22 on: March 09, 2016, 01:33:22 PM »
Yay! I'm glad somebody started a 2026 thread. That's the year I'll have my 25 years in my pension program. I'll be 57, but I hope to have enough saved to get me through to when I can collect my pension at 60. Then I can reduce my withdrawals but still take out a little if needed to get me to 70 and SS. (I hope there will be side gigs in there somewhere). It seems like a million years away, I have to say. It will be nice to have company.

Supernumerary

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Re: 2026 FIRE Cohort
« Reply #23 on: March 10, 2016, 11:03:36 PM »
Can someone inform me on the general purpose of these cohort threads after the initial "I'm in" phase?

bkmnky72

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Re: 2026 FIRE Cohort
« Reply #24 on: March 11, 2016, 05:14:10 AM »
Can someone inform me on the general purpose of these cohort threads after the initial "I'm in" phase?

You're supposed to check in on the regular to update on how everyone's going and support/cheer people on. 

I plan to check in once a month towards the end of the month.  Real estate is crazy right now in my zip code which brings up our NW to $391-ish.  Without Real Estate, it is grossly low at $131K, which is a whole lot lower than I previously posted.

Mega

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Re: 2026 FIRE Cohort
« Reply #25 on: March 22, 2016, 11:23:16 AM »
I am expecting a 2026 FIRE date. It would have been 2023 (when I would be 40), if childcare wasn't so expense!

I started the journey in 2013, so 13 (10) years is pretty good, I think.

missmoneymachine

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Re: 2026 FIRE Cohort
« Reply #26 on: March 22, 2016, 11:47:37 AM »
2016 is my goal too! I turn 25 this summer and I want to be FIREd at 35

dodojojo

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Re: 2026 FIRE Cohort
« Reply #27 on: March 22, 2016, 12:18:23 PM »
2026 is do-able for me if I'm aiming for 40K annually.  My current monthly expenses add up to about 32K annually.  But add in travel and financial support for a parent, and i'm closer to 40K.

If I can find a good part time gig, 2026 is viable.

I'm aiming for a cushier 50K and that would push me back to 2029.

Mega

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Re: 2026 FIRE Cohort
« Reply #28 on: March 23, 2016, 10:55:06 AM »
2026 is do-able for me if I'm aiming for 40K annually.  My current monthly expenses add up to about 32K annually.  But add in travel and financial support for a parent, and i'm closer to 40K.

If I can find a good part time gig, 2026 is viable.

I'm aiming for a cushier 50K and that would push me back to 2029.

Well, you could always does something part time or seasonal. I expect to "retire" to be an independent contractor. Then I only do the jobs I want.

dodojojo

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Re: 2026 FIRE Cohort
« Reply #29 on: March 23, 2016, 11:17:42 AM »
Well, you could always does something part time or seasonal. I expect to "retire" to be an independent contractor. Then I only do the jobs I want.

Yes, that would be ideal.  I would do it if it was gig that would pay me around the $50/hour as that's my FT compensation.  I wouldn't do it for significantly less.  If that's the option, then I'd rather just work full time for a couple of years more.  I'm a paper pusher so I don't have a niche talent or specialization that would notch a high consulting rate.

PlanetDee

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Re: 2026 FIRE Cohort
« Reply #30 on: March 24, 2016, 12:34:41 PM »
Joining in! 2026 is the goal for my husband and I to both switch to part time / side business work. Depending on how things go, we may be able to completely FIRE and work for travel expenses so we're not tapping into the stache. I can't wait!!!

bestname

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Re: 2026 FIRE Cohort
« Reply #31 on: April 15, 2016, 01:07:17 PM »
After pondering and making various calculations for three weeks, I've decided I will retire in 2026. I'm 42, very late to the MMM game. I wish I had discovered it sooner, but I'm glad I didn't discover it later.

Anyway. I will have saved enough to replace my income in 10 yrs. We are going to try to save a bit of my husbands income as well. My plan now is to work at least PT until my husband can retire. But no more 40+ hours in an office.

Goal set!!

elysianfields

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Re: 2026 FIRE Cohort
« Reply #32 on: May 01, 2016, 05:36:57 AM »
I have officially established my countdown to retirement timer at http://www.timeanddate.com/countdown/generic?iso=20260320T00&p0=263&msg=Retirement+Timer&ud=1&font=sanserif.

I'd only extend the date significantly if I'm promoted in the three years before (my pension payment is based on my high-3), though we might adjust by a month or two depending on the particular circumstances.

We are on track so far NW-wise.  Keep 'staching, everyone!

Dexterous

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Re: 2026 FIRE Cohort
« Reply #33 on: May 14, 2016, 01:57:57 AM »
^ That calendar is really depressing.  It seems so far away when it's broken down like that :\

Update since January:  My wife and I both got the pay raises we expected, and I also got an unexpected bonus of $50k!  :)  We maxed out the TSP and IRAs in February, so our extra money is going into a taxable account for the remainder of the year.  Unfortunately, that doesn't increase my retirement timeline due to the whole military contract thing.  :P
« Last Edit: May 14, 2016, 02:01:38 AM by Dexterous »

Rhoon

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Re: 2026 FIRE Cohort
« Reply #34 on: May 14, 2016, 09:24:05 PM »
^ That calendar is really depressing.  It seems so far away when it's broken down like that :\

Update since January:  My wife and I both got the pay raises we expected, and I also got an unexpected bonus of $50k!  :)  We maxed out the TSP and IRAs in February, so our extra money is going into a taxable account for the remainder of the year.  Unfortunately, that doesn't increase my retirement timeline due to the whole military contract thing.  :P

Congrats on the pay raises and bonus! Nuclear Engineer? Wife and I are planning on the cruiser life style in 10-12 years ourselves.

FIREdancer

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Re: 2026 FIRE Cohort
« Reply #35 on: May 17, 2016, 02:54:57 PM »
My goal is to reach FIRE in 10 years, so I'm in.  At my current income and spending levels, it is more likely that it will take me 15 years, but I'm hoping to increase my badassity along the way, so I will be optimistic and join the 2026 cohort!  Ultimately, I plan to continue working part time, so I'm definitely shooting for FI by then.

Since finding MMM almost exactly a year ago, my current savings rate is about 30%, up from about 15% last year...shooting for 40-50% saving rate within a couple years.

Jessamine

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Re: 2026 FIRE Cohort
« Reply #36 on: June 23, 2016, 02:04:52 PM »
Put me in this cohort as well.  Like many here, I started following MMM early last year and was floored by the idea that early retirement was doable.  After doing the math (several times), I should be FIRE at 40.  Current goal is to have my last day on my 40th birthday, which just so happens to be a Friday.

Dexterous

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Re: 2026 FIRE Cohort
« Reply #37 on: June 24, 2016, 06:29:18 AM »

Congrats on the pay raises and bonus! Nuclear Engineer? Wife and I are planning on the cruiser life style in 10-12 years ourselves.

I'm not that smart! *edited for security*

We'll have to keep in touch about sailing.  Maybe we can learn a thing or two from each others plans.

Put me in this cohort as well.  Like many here, I started following MMM early last year and was floored by the idea that early retirement was doable.  After doing the math (several times), I should be FIRE at 40.  Current goal is to have my last day on my 40th birthday, which just so happens to be a Friday.

Welcome to the club, especially if you're a Patriots fan!  :)
« Last Edit: December 31, 2017, 04:40:50 AM by Dexterous »

Jessamine

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Re: 2026 FIRE Cohort
« Reply #38 on: June 24, 2016, 07:34:04 AM »
Welcome to the club, especially if you're a Patriots fan!  :)

Of course!  Boston born and bred!

Sailor Sam

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Re: 2026 FIRE Cohort
« Reply #39 on: July 01, 2016, 09:09:00 PM »
I'm in. I currently have 10 years in the military, and will be eligible for retirement on 7-MAR-2026. I'll probably have to extend past the date to lock in a high-3 base salary, but I have a little dream of retiring exactly on the day.

Seems far away, but in reality it's only 4 billets away:
- 12 years service at the end of the current billet
- 14 at the end of my next sea tour as XO
- 17 at the end of land assignment as ???
- 20 at the end of CO sea tour.

Of course, the detailer might have other plans. I'll take the years as they come.

I went to college in Mass, and I find the Patriots worthy....of being heckled and harassed. ;)

PFHC

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Re: 2026 FIRE Cohort
« Reply #40 on: July 10, 2016, 07:19:22 PM »
Howdy all!

I'm saying 2026, to be conservative. Realistically, could be as early as 2022... but, I don't like counting unhatched chickens.

I'm 36, married, with two terrifying monsters who live with us. We are natural born Mustachians, who fell off briefly in 2008, and were immediately slapped back on the wagon by the housing collapse. Been making strong gains in our NW for the past 4 years, hoping to continue.

We're Mainers, so, if we followed football, we'd naturally have to root for the Patriots!

OurTown

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Re: 2026 FIRE Cohort
« Reply #41 on: July 12, 2016, 01:46:13 PM »
We can probably hit this target.  My daughter should finish college in 2026.

ABK

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Re: 2026 FIRE Cohort
« Reply #42 on: August 21, 2016, 10:22:03 AM »
We're in for 2026. That'll be 11 years since discovering MMM, which has transformed our lives in this first year.

The kids will be out of the house, and said house will be paid off by then. I'll also be sick of my job by then ... I'm not yet, but I will be :-)

amnash

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Re: 2026 FIRE Cohort
« Reply #43 on: August 21, 2016, 10:26:41 AM »
I'm closer to 2028. But I am being realistic with it for my projections and already aggressively eliminating all debt. GOod luck to everyone!

tomorrowsomewherenew

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Re: 2026 FIRE Cohort
« Reply #44 on: September 24, 2016, 07:46:03 PM »
Hello everyone!

We're looking at retiring in 2026 also. I'm a SAHM, and my husband works for a state university. Current investments are around $340k-$350k, depending on the day. We plan to have somewhere in the neighborhood of $1.4m+ to retire on. But we will see how the plan goes. 2026 is a long way out, so we may end up being 2025 or 2027!

Gronnie

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Re: 2026 FIRE Cohort
« Reply #45 on: September 24, 2016, 09:22:43 PM »
In! I'll be 40 in 2026 and am aiming for about $1m net worth plus paid for house.

Wife is a nurse and gets benefits even if part time, so we may have her continue to work 0.6FTE to continue to get benefits, plus that amount would nearly cover all our expenses and the 'stache could continue to grow!

Lindy

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Re: 2026 FIRE Cohort
« Reply #46 on: September 25, 2016, 04:42:12 PM »
We're aiming for FIRE in 2026!  By then we should have a $1M net worth and a paid off house.  I'll be 46 and the Mr. will be 40. 

We talked about this last night actually.  We figured out our combined expenses for a year and then figured out how much we should need to retire.  $1M will cover our expenses with a healthy buffer. 

I don't see either one of us ending paid work completely after we retire.  Sure, we might take a couple years off, but eventually I see us finding work that we enjoy more than the jobs that we currently have. 

youngfruitbat

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Re: 2026 FIRE Cohort
« Reply #47 on: September 26, 2016, 09:31:02 AM »
Would love to FIRE in 2026 (if not sooner, but 2026 at the latest)! That would make me 33 and DH 35. We are on the very beginning of our journey, as I just discovered MMM in March.

Luckily, we are starting out with no debt, so we will be able to start straight away with investments. Right now we are working on getting the minimum principle to invest with vanguard. I'm working on learning about investing as well.

FrugalLakes

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Re: 2026 FIRE Cohort
« Reply #48 on: October 05, 2016, 09:44:42 AM »
I am aiming for 2026 as well.  No specific date as of right now but aiming for net worth of 1.25 million.  I will be 40 and free to do whatever pleases me then.  Just past the 10% mark and am aiming to add 45-50k to the stash in 2017.

jade

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  • Posts: 186
Re: 2026 FIRE Cohort
« Reply #49 on: October 05, 2016, 09:53:24 AM »
2026 is roughly what I'm thinking as the FIRE for my husband and I. I'm now 40, he's 45. We are semi retired, and just starting on our stache, saving rate of 60%+. It may be a little later than that as our earnings fluctuate but I'll join in and give it our best shot. :)