Author Topic: 2027 FIRE Cohort  (Read 14745 times)

TomTX

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Re: 2027 FIRE Cohort
« Reply #100 on: September 09, 2018, 02:45:14 PM »
Still trying to move to the 2025 group - :)

fuzzy math

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Re: 2027 FIRE Cohort
« Reply #101 on: September 09, 2018, 04:53:27 PM »
Haha me too. Of course I have no control over that, everything hinges on DH finishing his degree and becoming gainfully employed


talltexan

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Re: 2027 FIRE Cohort
« Reply #102 on: September 10, 2018, 09:04:16 AM »
Hang in there, Fuzzy_math.

I was fortunate to have a spouse who believed in me through grad school. Hopefully my wife now appreciates how great an investment I was.

TomTX

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Re: 2027 FIRE Cohort
« Reply #103 on: September 30, 2018, 09:47:27 AM »
Wife's been back to work this year and other than child care, we've kept the expenses down. In addition to the ~10% of my salary going into the pension, we will max out my 457 + both IRAs.

I'm officially moving from 2027 to 2025 as my "base" year for planned ER, and 2023 as my stretch goal.

Retiring 2 years sooner will push my pension/medical eligibility back by 4 years + 4 months, and (perhaps obviously) reduce the monthly payout for my pension.

So long, suckers! ;)

fuzzy math

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Re: 2027 FIRE Cohort
« Reply #104 on: October 04, 2018, 11:37:58 AM »
Adios, TomTX don't let the door hit ya where the good lord split ya :p

This month's contributions have put me 25% of the way there! I feel like every day of the month kinda drags except payday. I wish I was paid biweekly like at my old job, would make contributions much more interesting and help overall to better dollar cost average.


talltexan

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Re: 2027 FIRE Cohort
« Reply #105 on: October 04, 2018, 01:38:45 PM »
Market is dropping like a stone today; several more days like this, and TomTX might come back :-)

Vasilisa

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Re: 2027 FIRE Cohort
« Reply #106 on: October 04, 2018, 01:50:45 PM »
@fuzzy math congrats! And I feel ya, these long term financial goals are rather boring in the sense that what you set things in motion, not much to do!

But thanks for pointing out how far you are towards FIRE! Made me do the math too and we are about 25% there as well. Good job us.

fuzzy math

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Re: 2027 FIRE Cohort
« Reply #107 on: October 04, 2018, 04:01:12 PM »
Market is dropping like a stone today; several more days like this, and TomTX might come back :-)

Lol. Will we accept him back? Looks like it only dropped 300 points. Would have been nicer before my contribution went in at the higher price. Dear universe - the market is allowed to drop precipitously every month from the 29 - 31 and sometimes the 1st. thanks.

@Vasilisa good job too!!! It's the little mental tricks to partition things that make the journey more enjoyable.

jimmyshutter

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Re: 2027 FIRE Cohort
« Reply #108 on: October 04, 2018, 05:23:19 PM »
2027 is likely my target date depending on how the market does. I'll be an old man compared to most of you guys/gals here but younger than most of my coworkers.


Vasilisa

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Re: 2027 FIRE Cohort
« Reply #109 on: October 05, 2018, 08:56:12 AM »
@jimmyshutter welcome! Hey, we get around to financial freedom when we do. As they say, we're all on separate journeys.

We're in it for the long term financial goals and to celebrate our milestones. A big milestone for me in 2018 will be maxing out my Roth IRA contribution for the first time (just opened it in 2017!). 2019 I want to work on maxing out my 401k contributions.

What's everybody else working on?

Viking Thor

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Re: 2027 FIRE Cohort
« Reply #110 on: October 05, 2018, 09:08:15 AM »
Hi everyone, I've been a fairly silent group member checking back in. Still a ways to go for us all but glad everyone is making progress.

A goal for me now is to build up more after-tax savings. Right now I'm doing pretty well with pretax but maxing it out and it's 90+% of my investments.

So in addition to being the only way I can save more, I want to have more flexibility for withdrawals in early retirement stage (I'll be 53 in 2027).
« Last Edit: October 05, 2018, 09:10:03 AM by Viking Thor »

talltexan

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Re: 2027 FIRE Cohort
« Reply #111 on: October 05, 2018, 09:14:51 AM »
I ratched down my retirement contributions to a level sufficient for matching in order to knock out some short-term debt. I know it's not mathematically optimal, but it seems dumb to have these little debts and be in seven digits. I figure if there's a large market drop, I can increase the debt to re-enter then.

rockstache

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Re: 2027 FIRE Cohort
« Reply #112 on: October 05, 2018, 09:39:49 AM »

What's everybody else working on?

I'm working on making a kid right now who will join us sometime in December/January. In taking off 5-6 months (unpaid) for maternity leave, paying for daycare the second half of the year, and dealing with whatever other costs happen to come up, my goal for next year is to max out all tax-advantage accounts, and maybe (stretch goal) still have something leftover for taxable. It kind of kills me to take such a huge hit in our accumulation years, but I want to get the kid thing started out right from the beginning. We're a little over 28% of the way there currently.

Good luck everyone! Sounds like some great progress is being made.
« Last Edit: October 05, 2018, 12:15:32 PM by rockstache »

TomTX

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Re: 2027 FIRE Cohort
« Reply #113 on: October 05, 2018, 09:42:53 AM »
Market is dropping like a stone today; several more days like this, and TomTX might come back :-)

Pfft. I need a bigger drop than that. And hopefully prolonged enough for my upcoming contributions to get into the market.

Come on 50% market crash!

I still love you guys, I'm just not gonna keep working that long. I hope.

LateToTheParty

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Re: 2027 FIRE Cohort
« Reply #114 on: October 07, 2018, 09:30:36 PM »
Hi all!  Officially joining in on the cohort. I will be 55 in 2027, and the golden handcuffs will keep me in place until then. We are lean FI now, and I hope to downshift to part time in in the next few years, and coast to fatFIRE.   DH will FIRE around the time I downshift.
We are simple people who are not planning to lifestyle inflate.  Rather, going for extra budget padding due to unknown future expenses for healthcare and long term care (I have an expensive progressive chronic healthcare condition).

Looking forward to sharing the journey with you all.

Graph below is for 25x in equities, our standard FI number.   We hope to hit that number by 2021.


TomTX

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Re: 2027 FIRE Cohort
« Reply #115 on: October 08, 2018, 06:51:46 AM »
Hi all!  Officially joining in on the cohort. I will be 55 in 2027, and the golden handcuffs will keep me in place until then. We are lean FI now, and I hope to downshift to part time in in the next few years, and coast to fatFIRE.   DH will FIRE around the time I downshift.
We are simple people who are not planning to lifestyle inflate.  Rather, going for extra budget padding due to unknown future expenses for healthcare and long term care (I have an expensive progressive chronic healthcare condition).

Looking forward to sharing the journey with you all.

Are you really, really sure you want to wait that long? This thread changed my mind about waiting for my pension in 2027:

https://forum.mrmoneymustache.com/welcome-to-the-forum/rich-broke-or-dead-visualizing-probabilities-of-outcomes-in-early-retirement/

You're ahead of me in the "outside assets" department, and I have recently jumped ship for the 2025 group with a stretch goal of 2023.

LateToTheParty

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Re: 2027 FIRE Cohort
« Reply #116 on: October 08, 2018, 08:43:38 PM »
Hi all!  Officially joining in on the cohort. I will be 55 in 2027, and the golden handcuffs will keep me in place until then. We are lean FI now, and I hope to downshift to part time in in the next few years, and coast to fatFIRE.   DH will FIRE around the time I downshift.
We are simple people who are not planning to lifestyle inflate.  Rather, going for extra budget padding due to unknown future expenses for healthcare and long term care (I have an expensive progressive chronic healthcare condition).

Looking forward to sharing the journey with you all.

Are you really, really sure you want to wait that long? This thread changed my mind about waiting for my pension in 2027:

https://forum.mrmoneymustache.com/welcome-to-the-forum/rich-broke-or-dead-visualizing-probabilities-of-outcomes-in-early-retirement/

You're ahead of me in the "outside assets" department, and I have recently jumped ship for the 2025 group with a stretch goal of 2023.

Ha ha!  You are so right, TomTx. I have crunched those Maizeman graphs.  And cFIREsim with 100% probability of success at 2023. I fluctuate between pulling the lever in 2022 (the earliest I would be comfortable considering FIRE) vs going all the way to 2027 (2XFI).
What happens with healthcare is the unknown that I am closely following.

LorettaLynn

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Re: 2027 FIRE Cohort
« Reply #117 on: October 19, 2018, 05:04:04 AM »

What's everybody else working on?

Iím going to have surgery to greatly improve my physical health (thatís the plan anyway!) so gearing up for that in December.  It should give me some much needed energy to finish up my remaining 9 years in the workforce with a better amount of energy and also some mental health improvement.  I must say, work has really sucked lately and zapping the situation with my optimism gun has not been too fruitful. 

talltexan

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Re: 2027 FIRE Cohort
« Reply #118 on: October 19, 2018, 07:12:36 AM »
I, too, have started to worry that I've been on-top of things financially, but neglecting health.

Vasilisa

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Re: 2027 FIRE Cohort
« Reply #119 on: October 19, 2018, 04:06:53 PM »
@LateToTheParty welcome! Looking forward to hearing everyone's progress as well.

@LorettaLynn good for you! Here's hoping for a successful surgery for you! Work has been pretty rough for me as well, and boy does that motivate me towards FIRE! I could see even dropping to part-time would improve things if I had the means to do so.

Oh man, @talltexan better take care of yourself! What are we going to do in retirement if we don't have our good health?

I put together a personal investment policy statement the other day to discuss with the DH and it felt so good to put together goals, numbers, info all into one place. Felt like I was putting energy into Us, LLC. Still quite a few things up in the air but hoping as the dust settles in the next few months we will have a strong plan in place to kick the savings percentage into high gear.

fuzzy math

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Re: 2027 FIRE Cohort
« Reply #120 on: November 08, 2018, 03:13:09 PM »
Bump!

Exciting news today, I finally got up the courage to speak to my big manager about trying to achieve goals for a higher raise next year. My work (healthcare) has a standard on track raise, and a "role model" certification. I felt like a goober asking how I could be considered for it, and it turns out it's fairly easy but requires a lot of paperwork documenting beyond the norm work. So manager will assist me, and hopefully come next summer I'll get 5% instead of 2%.

Trying to get as many health related things seen in 2018 as we've maxed out our OOP for the year. Need to start planning to reset contributions for Jan 2019 so I can max out 2018 Roths for DH and I.

Now that the market is down a bit I sure wish I could contribute more but we keep things pretty slim round here 24/7.

We're getting awfully close to the 8 yr mark til 2027. cheers everyone