Author Topic: 2026 FIRE Cohort  (Read 21660 times)


  • 5 O'Clock Shadow
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Re: 2026 FIRE Cohort
« Reply #100 on: August 03, 2018, 09:33:55 AM »
Hey everyone! First post here. Figured I'd do a quick intro here since my FIRE goal is 2026 as well. I'll be 40 in 2026. :)

First off - background on my username. I'm a finance professional, investing capital on behalf of the bank I work for in middle market companies.

I LOVE to hike and one my buddies who's in his 70's and FIRE (He's a Mustachian, just doesn't know the term) gave me the trail name "Loan Shark" since I'm in the banking/investing business. I thought it was funny and tongue-in-cheek, so figured I'd use it as my username here. :)

I'm 32, my wife is 30 and we love to travel and hike. As I mentioned, I'm in finance and she works for our public utility.

I've always been interested in finance and began saving early in life.  I got serious about it after starting my professional career. I keep a quarterly personal balance sheet so I can track my performance quarterly and make sure I'm saving enough. I've saved 50%+ since I started tracking this back in 2009.

Here's where my wife and I are at now:
Cash - $236,000 (Goal is to keep $200,000 liquid in case I find an investment I want to make or distressed asset to purchase)
Wife and I's 401k - $371,000 (maxed each of our accounts for the past six years or so)
Home - $444,000 cost basis (market value is $500,000)
"Other assets" (personal possessions, cars, etc) - $198,000

Debt - $95,000 in car notes at a blended cost of capital of 1.55%.
Our cash is earning 1.6% in money market accounts so the debt is essentially a wash and I like keeping the cash liquid for opportunities to invest on the side.

Total net worth is ~ $1.1MM.

This is the most cash I'll keep though and start funding post-tax retirement funds here shortly.

Our over arching goal was to become debt free and we achieved that last year when we paid off our home in September (I don't consider our car notes debt given the wash on our money market interest rate).

Second goal over the past year was to build up $200,000 in cash savings which is now done in case I want to buy an asset at distressed prices in the event of a "market correction".

Next goal is to start funding retirement accounts outside of our 401k to the tune of $100-200,000 a year. That'll start in Q4.

We're starting the process of analyzing our monthly "spend" which we'll then use to figure out where we need to be officially FIRE'd.... My rough calculation of this is $30,000-60,000 a year though currently. Most of this "spend" has been spent on travel over the past four years - that's totaled about $10-12,000/year - but we've done that consciously as we want to see the world and enjoy the time we have with each other while we're young and healthy and don't have children yet.

At any rate, that's a little bit about us. I've been reading MMM for the past few years along with other books/blogs and I've really enjoyed it! Not sure what "retirement" would mean yet but I my goal is to figure that out over the next few years. I do genuinely enjoy what I do though and paying off our home and becoming "debt-free" has been great for reducing stress as my work environment can be quite stressful.

I look forward to learning more about everyone's journey and working toward that 2026 goal!

Loan Shark


  • Bristles
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  • Location: USA
Re: 2026 FIRE Cohort
« Reply #101 on: August 09, 2018, 06:06:41 AM »
Hey, everybody--signing in to this thread to draw a "line in the sand" at 2026 as the outer limit for my FIRE date.

That's the year I turn 59.5 and can draw from retirement assets with no penalty.  :) 

I'm hoping to go earlier than that, but I'm committing to no longer than 2026.

Two biggest challenges for us to overcome:

HEALTH CARE:  While it would only be 6 years to cover me until Medicare would kick in, DH is 11 years younger (we got married when I was 46 and he was 35, so I'm not TECHNICALLY a cougar, right?) and would need coverage for 17 years prior to Medicare.  God only knows what might change on the health care field between now and then, though, so it's just something to take into account as we continue to make our plans.  If we decide to pull the trigger earlier, we will have to make a brass-tacks level plan.

ACCOUNT TYPES:  While we are members of the Double Comma Club, most of our net worth is tied up in retirement accounts or home equity, which would make it not-impossible-but-hard to access the funds to fund our lifestyle in the absence of a paycheck. 

Our current yearly spending is about $60K, so our current savings goal is $1.5 MM in non-home-equity assets.  At $878K, we are about 58% there.  We are maxing our pre-tax retirement and Roth accounts yearly and saving additionally from our take-home (currently all earmarked for a major home renovation, but will go to taxable accounts after that's done). 

I think we can reduce our spending as a FIREd household--the house will be paid off by then, for example, which reduces the need for cash flow--so the target will likely move downward as we continue to tweak our lifestyle.  We would also go from a two-car household to a one-car household, which lowers insurance and maintenance costs.  And so on and so on.

My Inner Bag Lady is a force to be reckoned with--it will be some time before I will truly be comfortable with us pulling the plug as a household.  But 2026 is the limit--no more after that.  :)


  • Bristles
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  • Location: Kentucky
Re: 2026 FIRE Cohort
« Reply #102 on: August 09, 2018, 08:13:45 PM »
I have a tentative 2026 goal for myself. :)

Debt free except 30k left on the mortgage.
32k in the IRAs
10k liquid
$4500 in the 401k with achievable maxing of my 401k this year

My goals are:
1. to reach 80k ish by 33 in that standard Retirement accounts so it'll be around 350k when I'm 60
2. buy 350k of stocks over next 8 years as well

By the time 38 rolls around, I should be able to live on 1k/month and be FI


  • 5 O'Clock Shadow
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Re: 2026 FIRE Cohort
« Reply #103 on: October 09, 2018, 08:16:53 AM »
I ran some numbers and we are tentatively hoping for a 2026 FIRE date as well, will be turning 39 that year. :)


  • 5 O'Clock Shadow
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Re: 2026 FIRE Cohort
« Reply #104 on: October 26, 2018, 11:15:45 AM »
Just landed here. I'm 57 and way behind. So I'm going to act as if I'm 47 and plan to fire in 2026.

Sailor Sam

  • Magnum Stache
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Re: 2026 FIRE Cohort
« Reply #105 on: October 26, 2018, 02:49:10 PM »
1. Opening net worth of $370k

2. 50% of my $750k lower bound, 37% of the $1M upper bound

Wrapping up Q1 for 2017.

1. $405,407.56 on 1-Apr

2. 54% of my $750k lower bound, and 40% of $1M upper bound

Update to close Q2 of 2017.

1. Net worth is $433,670 on 3-July

2. 57% of $750k lower bound, and 43% of $1M upper bound.

Q3 roundup:

1. Networth is $466,531 on 1-Oct.

2. 62% of $750k, and 46% of $1M.

End of Q4, and the end of 2017.

1. Networth is $496,452

2. 66% of 750k, and 49% of 1m.

End of Q1 for 2018

1. Networth is $528,029 on 20-Apr

2. That's 70% of $750k, and 53% of $1M.

End of Q2 for 2018

1. Net worth is $546,907

2. That's 73% of $750k, and 55% of $1M

I'm late collating, and even later posting for the end of Q3 for 2018. Late, late, for an arbitrary date. These were the numbers on 15-Oct. They've probably taken a dive, but at this point I'm simply holding course.

1. Net worth is $558,995

2. That's 74% of $750k, and 56% of $1M

The wife is considering a move from military to private pilot. We keep our finances separate, so my net worth climb rate won't be effected much, but the general fire hose of cash might be cracking even wider.


  • 5 O'Clock Shadow
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  • Posts: 22
Re: 2026 FIRE Cohort
« Reply #106 on: December 12, 2018, 09:58:00 AM »
Not an impressive leap from last year. Our income is still low because my wife is working part time until my son is old enough for day care. Savings rate is still decent, able to sock away about 3k a month.  Holding steady for progress on 2026 retirement.