Author Topic: 2027 FIRE Cohort  (Read 15759 times)

wstackable

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Re: 2027 FIRE Cohort
« Reply #50 on: October 15, 2017, 09:23:33 AM »
Looking at September 24th, 2027 for the big day... I'll be turning 40!


Roe

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Re: 2027 FIRE Cohort
« Reply #51 on: October 15, 2017, 10:56:05 AM »
Looking at September 24th, 2027 for the big day... I'll be turning 40!

Perfect day to do it!

Just make sure it's your first day of FIRE, not your last day at work ;)


fuzzy math

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Re: 2027 FIRE Cohort
« Reply #52 on: October 15, 2017, 07:48:54 PM »
Welp, I'm going to post here because 2027 is what my current (quite conservative) calculator says now. Health insurance is a factor naturally, and we don't know if we'll end up with a kid, so there are a lot of unknowns. But HI!

Welcome to the a-decade-away group!

We need a more inspirational catch phrase! A decade sounds soooo long away. Only 2.5 more months til 9 yrs!

Roe

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Re: 2027 FIRE Cohort
« Reply #53 on: October 16, 2017, 09:33:48 AM »
Welp, I'm going to post here because 2027 is what my current (quite conservative) calculator says now. Health insurance is a factor naturally, and we don't know if we'll end up with a kid, so there are a lot of unknowns. But HI!

Welcome to the a-decade-away group!


We need a more inspirational catch phrase! A decade sounds soooo long away. Only 2.5 more months til 9 yrs!

Given your username I hoped for something more...creative!

talltexan

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Re: 2027 FIRE Cohort
« Reply #54 on: October 16, 2017, 11:40:17 AM »
You guys are very high-energy, sign me up!

Age 37, $330,000 invested in my own retirement accounts.

Mustachio Bashio

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Re: 2027 FIRE Cohort
« Reply #55 on: November 02, 2017, 12:13:05 PM »
Joining in here as well.  I'm in the 2030 group, but this is really my goal.  Do you guys use a specific calculator to figure out your date?  The retirement tracker on Personal Capital or maybe the calculator from Mad Fientist?  Your own?  My goal is by my 43rd bday in August of 2027.  I'm aiming for a stash of 750k in accordance with MMM's rules with 25x 30k.  It's more than I typically use a year, but no kids yet, and I love to travel, so figure a bit more flexibility is nice.  I'd be down to work part-time as well, so I guess this leaves me some leeway.  Right now I'm at 230k with almost all of it in investment accounts (401k, IRAs, HSA, taxable).  I'm in Denver, so it's tempting to buy a house with my bf with the market so hot and so many people moving here every month, but we'll wait a bit, since we're hoping to spend at least 6 months working remotely internationally.  Fingers crossed that works out.  Thinking about staying with my current company that's not the greatest just because I've basically gotten to the point where I can work fully remotely since most of my team doesn't live here.  I'm not really sure how the bf and I will figure out our expenses together as time goes on, but he just paid off the rest of his student loans, which is really exciting.  So many things up in the air, but less than ten years till FIRE sounds doable.  Can't come soon enough... I discovered MMM about a year ago, and I only wish I'd known about this way of life sooner!

talltexan

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Re: 2027 FIRE Cohort
« Reply #56 on: November 02, 2017, 01:13:55 PM »
To answer how I figured out my retirement data, 2027 is so far away that I cannot be convinced a retirement calculator is useful for me.

But the MMM goal seems to be retirement in 10-years, so I figure that spending time on here will bring it closer. Starting from zero, this should be possible if you save about 60% of your income http://www.mrmoneymustache.com/2012/01/13/the-shockingly-simple-math-behind-early-retirement/.

TomTX

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Re: 2027 FIRE Cohort
« Reply #57 on: November 02, 2017, 01:28:28 PM »
To answer how I figured out my retirement data, 2027 is so far away that I cannot be convinced a retirement calculator is useful for me.

But the MMM goal seems to be retirement in 10-years, so I figure that spending time on here will bring it closer. Starting from zero, this should be possible if you save about 60% of your income http://www.mrmoneymustache.com/2012/01/13/the-shockingly-simple-math-behind-early-retirement/.

Sure. Though the timing of market corrections, etc will shift the actual date around a lot.

Roe

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Re: 2027 FIRE Cohort
« Reply #58 on: November 02, 2017, 04:11:58 PM »
I stuck my finger in the air to feel what way the wind is blowing, tossed some chicken bones on the ground, walked backwards in circles at an intersection in moonlight and then used the numbers from the license plate of the car that hit me in the dark.

fuzzy math

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Re: 2027 FIRE Cohort
« Reply #59 on: November 02, 2017, 08:14:37 PM »
I've used a bunch of savings calculators and they all have been roughly this time frame. Downloaded an app a while back called Pretirement and finally opened it today. Without ant contribution from DH (student), were 11 years out. When he's finally working I hope to be under 10

Mustachio Bashio

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Re: 2027 FIRE Cohort
« Reply #60 on: November 02, 2017, 11:43:26 PM »
I stuck my finger in the air to feel what way the wind is blowing, tossed some chicken bones on the ground, walked backwards in circles at an intersection in moonlight and then used the numbers from the license plate of the car that hit me in the dark.

Hahaha I like the way you do things. 

And good stuff.  Yea, I want to have a bit more leeway than what I'm currently using, since I'll hopefully have a kid and want to have some extra cash for their activities and general existence, plus lots of travel.  Personal Capital gives me about 10 years if I save around 36k, which is definitely doable.  Mad Fientist's had me at a bit over 7 yrs.  I'm hoping for the latter ;)  7 years sounds kinda ridiculous to me in the best way.

talltexan

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Re: 2027 FIRE Cohort
« Reply #61 on: November 20, 2017, 06:52:52 AM »
Update: changed all my retirement account elections to aggressive. Sold about $10,000 in bonds, and moved them to stock funds (50% US; 50% international).

Having a horizon of ten years away means I can afford to take a little more risk.

FIREistheNewBlack

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Re: 2027 FIRE Cohort
« Reply #62 on: December 11, 2017, 09:21:43 AM »
I'm officially joining this thread! I am excited that in a few weeks we'll only be 9 years away until retirement instead of a decade.

We are about 31% of the way to our target FIRE number. I'd love to have to eventually drop out and join a new cohort - 2027 is a bit conservative.

(I had another forum profile but started an anonymous blog last month, and I am paranoid so I started a new forum profile too. :P)

Glenstache

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Re: 2027 FIRE Cohort
« Reply #63 on: December 11, 2017, 01:00:42 PM »
Jumping into this thread. I'm about 1/3 of the way to my target. I'll be there in 2027 using very conservative assumptions about how much I can put in. It is likely that I'll be FI sooner, but would rather get there sooner than projected than the other way around.

Big question: how many of us will still be on the forums a decade from now? :)

talltexan

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Re: 2027 FIRE Cohort
« Reply #64 on: December 11, 2017, 02:17:50 PM »
It's my understanding that the whole MMM brand is only about six years old. Based on reading the Nassim Taleb book ANTI-FRAGILE, you should assume things will live about as long as they are old now, which would indicate that, yes, it's probably more likely this community will die off before the 2027 group reaches retirement. kinda sad to have to do it without you guys!

TomTX

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Re: 2027 FIRE Cohort
« Reply #65 on: December 11, 2017, 06:48:31 PM »
It's my understanding that the whole MMM brand is only about six years old. Based on reading the Nassim Taleb book ANTI-FRAGILE, you should assume things will live about as long as they are old now, which would indicate that, yes, it's probably more likely this community will die off before the 2027 group reaches retirement. kinda sad to have to do it without you guys!

Haven't you read the upbeat and positive attitude around here? The successes? The 114 year old people who are going to live another 114 years.... ;)

talltexan

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Re: 2027 FIRE Cohort
« Reply #66 on: December 13, 2017, 09:02:15 AM »
If the MMM brand fizzles, perhaps it will be because we all saved/invested and retired and are out being badass and forget to check the website?

Roe

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Re: 2027 FIRE Cohort
« Reply #67 on: December 13, 2017, 01:10:44 PM »
It's my understanding that the whole MMM brand is only about six years old. Based on reading the Nassim Taleb book ANTI-FRAGILE, you should assume things will live about as long as they are old now, which would indicate that, yes, it's probably more likely this community will die off before the 2027 group reaches retirement. kinda sad to have to do it without you guys!

Does it make sense in the book? That seems so completely arbitrary.

Roe

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Re: 2027 FIRE Cohort
« Reply #68 on: December 13, 2017, 01:10:58 PM »
Property market is nosediving here. Ever the optimist, im hoping it will take me closer to FIRE!


GnomeErcy

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Re: 2027 FIRE Cohort
« Reply #69 on: December 13, 2017, 01:27:03 PM »
It's my understanding that the whole MMM brand is only about six years old. Based on reading the Nassim Taleb book ANTI-FRAGILE, you should assume things will live about as long as they are old now, which would indicate that, yes, it's probably more likely this community will die off before the 2027 group reaches retirement. kinda sad to have to do it without you guys!

Does it make sense in the book? That seems so completely arbitrary.

Wikipedia helped for me

https://en.wikipedia.org/wiki/Lindy_effect

Mustachio Bashio

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Re: 2027 FIRE Cohort
« Reply #70 on: December 31, 2017, 03:08:26 PM »
Took this from the 2030 cohort group, but I crossed over 8x earlier this month, so starting it off there.  It would be amazing to reach 10x my annual FIRE amount by the end of next year, but I guess it'll depend on how these markets hold up...Either way, happy new year everyone!

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TomTX

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Re: 2027 FIRE Cohort
« Reply #71 on: December 31, 2017, 07:51:39 PM »
Nice.

I'm curious at what age everyone would be if they retire in 2027.

I recall 3 of us will be 53, Mustachio is trying to not be 43... Lets go with 42. Retire the day BEFORE your birthday ;)

So, everyone in this thread: presuming you retire in 2027, how old will you be?

giggles

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Re: 2027 FIRE Cohort
« Reply #72 on: December 31, 2017, 07:58:03 PM »
This is my goal. I wouldíve 42. I want to have the option to quit my good govt job at that point. Hoping to have 2 mil saved at that point but only need 40k for living expenses.

Mustachio Bashio

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Re: 2027 FIRE Cohort
« Reply #73 on: January 01, 2018, 03:14:34 AM »
At first I read "I will leave" as "I will live" for DC and I thought that was pretty comical (I used to live in the DC suburbs before moving to Denver).  But yes, goal is before turning 43, which is in August of 2027.

rockeTree

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Re: 2027 FIRE Cohort
« Reply #74 on: January 01, 2018, 07:00:12 AM »
50 and done if there’s viable health care by then - if not SO will retire and I will keep at it for bennies/supplementary health stache for a few years longer. Might be able to go 80% in that alternative...


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fuzzy math

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Re: 2027 FIRE Cohort
« Reply #75 on: January 01, 2018, 09:55:25 AM »
Woo hoo 9 years now!

I will be 45.

FireRun

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Re: 2027 FIRE Cohort
« Reply #76 on: January 01, 2018, 10:07:37 AM »
I'm shooting for the end of 2027 when I turn 45 so I just crossed the 10 years to go mark.

me1

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Re: 2027 FIRE Cohort
« Reply #77 on: January 01, 2018, 11:42:48 AM »
I am a little jealous of most people on here with stable jobs and pretty predictable career trajectories. Maybe that will happen for us one day. Best case scenario: SO's potential earnings are pretty close to mine, with extreme job security and great benefits. Unfortunately, SO is currently not there yet and despite ridiculous amounts of work, current earnings are very low and unpredictable, and sometimes non-existent. And it's not clear what we do if the dream job scenario for SO doesn't work out.

My own earnings can probably be predicted decently well if I can stick with the current very high stress job for the next 9 years. But I don't know if I can, and if I find a different job, in a different place how it will impact our NW or if I keep doing what I am doing, but venture on my own to alleviate some of the stress, etc, all things I have no idea how to account for in any kind of projection.

So my very conservative projection is that in 9 years at age 49 I retire no matter what. SO can do what SO likes, depending on how that career path turns out, but I have enough money for me to live off of. If in the meantime SO gets the dream jobs, I probably trade in for part time sometime before 9 years, or maybe it gives me the freedom to try to start my own business doing what I do now, just solo... If not, SO will have to make some sort of major shift in career....



talltexan

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Re: 2027 FIRE Cohort
« Reply #78 on: January 02, 2018, 12:36:53 PM »
My forty-seventh birthday will happen in 2027. But i'd be an idiot to retire the day before my birthday, which is in February, because our busy season is in the winter!

batemama

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Re: 2027 FIRE Cohort
« Reply #79 on: January 02, 2018, 02:25:06 PM »
If we stick to 2027, we'll both be 42.  40 sounds better--and we're pushing hard to get there--but 42 is the cut off.

Gholden

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Re: 2027 FIRE Cohort
« Reply #80 on: April 01, 2018, 12:49:48 AM »
This will be the first year that I'm retirement eligible in the military and I will be 42. My DW is a few years ahead of me (she would be part of 2023 cohort) but I think plans on sticking it out together with me depending on how things go the next few years. Our combined pensions are enough to cover expenses in my opinion, but over the next few years we need to figure out "the number."

TomTX

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Re: 2027 FIRE Cohort
« Reply #81 on: April 01, 2018, 06:57:55 AM »
This will be the first year that I'm retirement eligible in the military and I will be 42. My DW is a few years ahead of me (she would be part of 2023 cohort) but I think plans on sticking it out together with me depending on how things go the next few years. Our combined pensions are enough to cover expenses in my opinion, but over the next few years we need to figure out "the number."

Nords is a military retiree who posts regularly (and has written a book!) on the subject.

Welcome to 2027 - I'm planning to be a .gov (not .mil) pensioner.

Nords

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Re: 2027 FIRE Cohort
« Reply #82 on: April 07, 2018, 09:50:15 AM »
Thanks for the tag, TomTX!

This will be the first year that I'm retirement eligible in the military and I will be 42. My DW is a few years ahead of me (she would be part of 2023 cohort) but I think plans on sticking it out together with me depending on how things go the next few years. Our combined pensions are enough to cover expenses in my opinion, but over the next few years we need to figure out "the number."
Let me know if you have questions figuring out the military part.

felixiscariot

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Re: 2027 FIRE Cohort
« Reply #83 on: April 30, 2018, 10:20:55 AM »
I just turned 31 yesterday. My wife is 27. Over the last one to two years we've radically taken control of our finances which is how I found Mr. Money Mustache about 6 months ago. I did a little back of the napkin math at my birthday dinner and figured out that on our current path we'll be ready to FIRE by the time I turn 40 in 2027.

I found this thread and thought I'd put it in writing and have a place to document my progress.

Here's to day 1.

fuzzy math

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Re: 2027 FIRE Cohort
« Reply #84 on: July 17, 2018, 08:27:20 PM »
How's everyone doing? We should do at least a twice yearly progress update.

I'm currently at 4.59X planned yearly expenses with 25X being the goal. The following is based off our current situation as a 1 income family. Hopefully with school ending for DH in a couple years we will be able to greatly outpace the estimate here, with me retiring on track and DH either continuing to work or having already made up the difference to > 25X. This is mainly for my record keeping to make sure I'm at least making the minimum required to be on track.

2018 yr end goal = 5.18X

2019 = 6.7X
2020 = 8.3X
2021 = 9.9X
2022 = 11.6X
2023 = 13.4X
2024 = 15.2X
2025 = 17.1X
2026 = 19.1X
2027 = 21.2X

rockstache

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Re: 2027 FIRE Cohort
« Reply #85 on: July 18, 2018, 07:24:34 AM »
Hello, I'm still here. We are about 27% of the way there financially at this point. We are having a baby in December/January, so that may shift some things, but aside from childcare, I don't expect it to be too much. My husband finishes school at the end of August, and will be looking for a new job at that point. It would be ideal if it came with a higher salary, but I'm not counting my chickens on that. Taking maternity leave at the beginning of next year will slow our savings a bit, but I keep reminding myself that it's important, and those kind of things are exactly what the money is for.

Fuzzy math, I like the way you've laid out your multipliers, very convenient!

talltexan

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Re: 2027 FIRE Cohort
« Reply #86 on: July 18, 2018, 07:44:34 AM »
I'm glad you posted here. I recently mentioned to my financial advisor this 10-year time table, and he freaked out. He's 53 (with a 14 yo son), so I think he's planning to retire in about 10 years, when son is done getting edu-macated. I'm 15 years younger.

I'm ashamed to admit that I haven't done a great job tracking expenses for the tall-texan household. I've actually been directing extra money toward paying down debt lately. (Our net worth passed $1 mm last year--maybe only $950,000 liquid--I thought it was silly to be that rich and still have some of these little debts, so I reduced my 401K contributions to try to stuff the debt by the end of 2018).

My wife has expressed an interest in moving to be in a better school district and have closer geography to her parents (this would mean moving about 8 miles North). Being in this group is a good reminder that we need to be cautious about how much house we buy in the next two years.

fuzzy math

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Re: 2027 FIRE Cohort
« Reply #87 on: July 18, 2018, 12:41:24 PM »
Hello, I'm still here. We are about 27% of the way there financially at this point. We are having a baby in December/January, so that may shift some things, but aside from childcare, I don't expect it to be too much. My husband finishes school at the end of August, and will be looking for a new job at that point. It would be ideal if it came with a higher salary, but I'm not counting my chickens on that. Taking maternity leave at the beginning of next year will slow our savings a bit, but I keep reminding myself that it's important, and those kind of things are exactly what the money is for.

Fuzzy math, I like the way you've laid out your multipliers, very convenient!


I can’t take credit for it, saw it done in the 2030 thread! Liked it so much I copied


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LorettaLynn

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Re: 2027 FIRE Cohort
« Reply #88 on: July 18, 2018, 06:55:38 PM »
How much money are we all trying to have set aside on our special day in 2027?  Iíll be getting a govt pension, if the govt still exists.  Iíll also be leaving the DC suburbs for a lower COL area.

fuzzy math

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Re: 2027 FIRE Cohort
« Reply #89 on: July 20, 2018, 02:26:02 PM »
Somewhere between 1-1.3MM. Realistic spending is $50k per year if neither of us ever earned another dollar after retiring which seems unlikely. The plan is I retire no matter what in 2027 and DH will continue working til either of us can’t take it any more.


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rockstache

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Re: 2027 FIRE Cohort
« Reply #90 on: July 23, 2018, 07:33:27 AM »
We have a lot of changes (new location, new baby, new job for DH), coming up in the next 5-10 years which could drastically shift the plan. But for now, my estimate is about $1.6M. I am starting to think that I will retire in about 6 years when kid hits school age (2024 ish), so the 2027 date is actually indicative  of when I believe we could both retire. However, if DH likes his job at that point...he may choose not to.

talltexan

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Re: 2027 FIRE Cohort
« Reply #91 on: July 23, 2018, 09:20:52 AM »
We're really spendy, and I think my wife loves working, so it's likely we'll be above $2,000,000 by 2027.

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Re: 2027 FIRE Cohort
« Reply #92 on: July 23, 2018, 09:54:40 AM »
Hello, I'm still here. We are about 27% of the way there financially at this point. We are having a baby in December/January, so that may shift some things, but aside from childcare, I don't expect it to be too much. My husband finishes school at the end of August, and will be looking for a new job at that point. It would be ideal if it came with a higher salary, but I'm not counting my chickens on that. Taking maternity leave at the beginning of next year will slow our savings a bit, but I keep reminding myself that it's important, and those kind of things are exactly what the money is for.

Fuzzy math, I like the way you've laid out your multipliers, very convenient!


I canít take credit for it, saw it done in the 2030 thread! Liked it so much I copied


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It is a nice, tangible way to look at it. I'm at about 8.5x right now, and am planning on 2027 with allowance for another downturn between here and there and conservative estimate of how much I can put away over the next few years after expenses bumped up due to a change in life situation.

faroguy

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Re: 2027 FIRE Cohort
« Reply #93 on: July 23, 2018, 02:10:07 PM »
In April, I upped my 401k contributions so I would max out by the end of the year. Also, we opened an IRA for my wife that we are contributing to as well. On the downside, we went on a weekend trip for our anniversary and a cruise that we have been planning for about a year. So, my Personal Capital account is pretty confused right now. After a few months, I should be able get a better estimate on my savings rate.

Currently, I'm at 2.2x my annual spending, so things are looking up. :)

TomSelleckJR

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Re: 2027 FIRE Cohort
« Reply #94 on: July 25, 2018, 10:20:24 AM »
New to the forum, but not to MMM.

Right now 2027 is looking like my year to FIRE (conservatively), but I may be expediting that.   I'll be 49-50 at that time.

Mortgage will be gone in approx 16-18 months.
I currently have ~210k invested,  planing to add another 500k before FIRE

Wife currently has ~80k in her retirement account, and in addition, she is eligible for her pension when she turns 55, so she's sticking it out until then.

Current net worth (wife and I combined) is ~590k



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Re: 2027 FIRE Cohort
« Reply #95 on: August 02, 2018, 12:17:29 PM »
Optimistically jumping into this thread!

My DH and I are aiming for October 11th, 2027, our ten year anniversary. I'll be 48 and he'll be 60.

A lot of changes are afoot but once the dust settles in a few months I'm hoping to get us up to at least a 55% savings rate and then head to 60%. We're not looking to save as much as some of you- $700k should cover it currently. Granted we are also trying for a child (hi @rockstache !) and this will certainly throw everything for a loop but it's good to have a destination in the midst of all this change. Mortgage will be paid off this year and we will be a debt free family.

Feeling pumped to be here!

rockstache

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Re: 2027 FIRE Cohort
« Reply #96 on: August 02, 2018, 12:38:15 PM »
Hi Vasilisa and welcome! Have you joined the Fertility, Baby, and Pregnancy chat thread? (If so and I don't remember, I'm very sorry). I highly recommend it, it's so wonderful and supportive. Just jump right in anywhere.

talltexan

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Re: 2027 FIRE Cohort
« Reply #97 on: August 03, 2018, 08:58:53 AM »
Optimistically jumping into this thread!

My DH and I are aiming for October 11th, 2027, our ten year anniversary. I'll be 48 and he'll be 60.

A lot of changes are afoot but once the dust settles in a few months I'm hoping to get us up to at least a 55% savings rate and then head to 60%. We're not looking to save as much as some of you- $700k should cover it currently. Granted we are also trying for a child (hi @rockstache !) and this will certainly throw everything for a loop but it's good to have a destination in the midst of all this change. Mortgage will be paid off this year and we will be a debt free family.

Feeling pumped to be here!

Mortgage paid off in Santa Cruz sounds impressive. In what value of property do you live?

Vasilisa

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Re: 2027 FIRE Cohort
« Reply #98 on: August 03, 2018, 09:39:45 AM »
@talltexan Not super impressive but it's home sweet home: a $200k manufactured home in an affordable housing mobile home park. Sounds like you have a very different situation. How much debt do you have left?

talltexan

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Re: 2027 FIRE Cohort
« Reply #99 on: August 03, 2018, 11:47:08 AM »
Still around $215,000 total debt. Spouse and I have largely agreed that a move will make sense for our family in about two years, so I'm not hurrying to pay down the house piece, which is 85% of that.