Author Topic: 2028 FIRE Cohort  (Read 6636 times)

GreenShirt

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2028 FIRE Cohort
« on: November 01, 2016, 11:08:44 PM »
I did some quick searching and didn't see a 2028 FIRE thread - I guess I'm making this post!

So welcome, congrats on firing in 2028! Or if you're just passing by, hello to you too!

My wife and I did some fuzzy math the other day and found out that we will be financially independent by 2028. This is all very approximate, but all very exciting! The biggest recent lifestyle change for us has been that my wife started her job the other day (on Halloween, no less), which gave us a significant income boost,  in effect reducing the number of years we're required to work by about 5 years. That's scary awesome!

Anybody else planning to FIRE in 2028?

dougules

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Re: 2028 FIRE Cohort
« Reply #1 on: November 02, 2016, 10:58:37 AM »
Nice.  Congrats on heading that way.  (I'm in the 2021 cohort, though)

There's a list of the classes/cohorts here:

http://forum.mrmoneymustache.com/welcome-to-the-forum/'class-of'cohort-what-year-will-you-fire/

The 2028 one doesn't look all that active at 12 years out, but one person has posted there.  You're probably better off to move there since that's where everybody else will be looking as the 2028 group starts talking. 

http://forum.mrmoneymustache.com/welcome-to-the-forum/2028-fire-cohort/

Kevin M

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Re: 2028 FIRE Cohort
« Reply #2 on: November 07, 2016, 11:42:12 AM »
Congrats, on taking the steps to set yourself up for FIRE in 2028. I've done some pretty conservative estimates and plan on being FI in 2028 as well, although I may not RE at that point. I discovered the MMM blog about 1.5 years ago, about the same time that I entered the work force post college, and FIRE has been my primary focus ever since. It's good to here from some fellow 2028 FIREees.

pxpaulx

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Re: 2028 FIRE Cohort
« Reply #3 on: November 07, 2016, 05:17:20 PM »
This is in our ballpark. We refinanced this summer and with extra payments plan on having or house paid off in 2028, at which point I'll be 50. A little late to the early retirement party here, just started reading the blog in May!  We've made done sold changes and started actually budgeting, but still getting settled with the changes, though we've always been relatively frugal.

Crossing my fingers that I'm being conservative on the twelve year goal though!

BaronB

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Re: 2028 FIRE Cohort
« Reply #4 on: November 07, 2016, 08:06:42 PM »
Man, I had no idea there would be a cohort thread. This is really cool.

Mid-30's pharmacist shooting to retire near 45 (near 2028). I don't have the math 100% plotted out yet, but we're aggressively paying down debt and then socking away as much as we can every year until goal.

I'm still listening to podcasts and reading books and blogs like crazy trying to figure out how to make the money grow faster than if I were to put all of it into mutual funds. We'll venture into real estate eventually, but part of me wants to buy a Mexican restaurant instead. Why not both? ;)

GreenMountainMillennial

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Re: 2028 FIRE Cohort
« Reply #5 on: November 16, 2016, 03:04:11 PM »
2028? Count me in! Setting the goal to retire by 35. I'm using the mad fientist's laboratory to help track, its pretty nifty. Any others use his tools?

GreenShirt

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Re: 2028 FIRE Cohort
« Reply #6 on: November 16, 2016, 10:52:16 PM »
Hey, this is really cool! So awesome to hear everyone's short life story!

GreenMountainMillennial, yes and no :P
I briefly tried the Mad Fientist laboratory tools but haven't had time (okay, that's just an excuse) to fully investigate it. Have you tried any other tools to compare whether you more liked one or the other?

Viv A. Stache

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Re: 2028 FIRE Cohort
« Reply #7 on: December 12, 2016, 09:32:36 AM »
I'm glad to find that 2028 is an active cohort already! I will retire with 20 years active duty in Sept 2028, and hopefully I'll be able to convince my husband to join me within a few years. 

Manuel

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Re: 2028 FIRE Cohort
« Reply #8 on: January 11, 2017, 03:26:29 PM »
+1

I just started so there is a long way to go and some ups and downs might change the year a bit :)

TheAnonOne

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Re: 2028 FIRE Cohort
« Reply #9 on: January 11, 2017, 03:30:08 PM »
I personally think anything more than 5 years out is pretty up in the air. A single market crash or rally will shave or add litterally years from/ to the plan.

It's good to pick a class of thread but maybe we should have a 5 to 7 year out, 3 to 4 year out ect ect and users can "graduate through those as needed...


janf1972

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Re: 2028 FIRE Cohort
« Reply #10 on: January 31, 2017, 05:16:35 AM »
I am definitely planning and working towards 2028.  I will be 56 years old and that is the age when my Dad retired early.  My goal is to be just like him!  We have a nice nest egg but I definitely have to dive into these calculators more and understand what I need to save each month.  I have a small amount of debt that I need to get rid of (under $4k) and then I'm throwing as much as I can into retirement and non-retirement funds.

DeskJockey2028

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Re: 2028 FIRE Cohort
« Reply #11 on: January 31, 2017, 08:45:57 AM »
That makes you roughly the same age as me! I'm planning on 57 a5 2029 but you never know....

I am definitely planning and working towards 2028.  I will be 56 years old and that is the age when my Dad retired early.  My goal is to be just like him!  We have a nice nest egg but I definitely have to dive into these calculators more and understand what I need to save each month.  I have a small amount of debt that I need to get rid of (under $4k) and then I'm throwing as much as I can into retirement and non-retirement funds.

ducky19

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Re: 2028 FIRE Cohort
« Reply #12 on: January 31, 2017, 04:05:40 PM »
I've done some fuzzy math before, but decided to sit back down and update it with current numbers. If we continue saving at our current rate, with no pay increases figured in, I should be able to FIRE in 2028 at age 53 - not nearly as early as some on here, but two years sooner than I had originally planned. My wife is 4 years younger than me, and our youngest should be well on his way to finishing off a degree at that point. Both our primary home and rental house should be paid off by then, too. I think I actually have a lot of buffer built in here since a) no pay increases figured, and b) assumes neither of us earn any income after FIRE. Hopefully will be able to shorten this then, but for now I'm satisfied with a 2028 target!

janf1972

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Re: 2028 FIRE Cohort
« Reply #13 on: January 31, 2017, 04:36:10 PM »
Go Gen Xers!!!!

That makes you roughly the same age as me! I'm planning on 57 a5 2029 but you never know....

I am definitely planning and working towards 2028.  I will be 56 years old and that is the age when my Dad retired early.  My goal is to be just like him!  We have a nice nest egg but I definitely have to dive into these calculators more and understand what I need to save each month.  I have a small amount of debt that I need to get rid of (under $4k) and then I'm throwing as much as I can into retirement and non-retirement funds.

K-12FI

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Re: 2028 FIRE Cohort
« Reply #14 on: January 31, 2017, 07:19:40 PM »
Plan to be here (well, at least my wife, or to be FI...)

tipapher

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2028 FIRE Cohort
« Reply #15 on: February 01, 2017, 01:11:39 AM »
I love the idea of this thread. 2028 is definitely within our reach, however we still have a lot of variables that may change things slightly. My wife will be going back to school which will increase our debt temporarily but also increase our income when she's finished.

What are your guy's current savings rate?

DeskJockey2028

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Re: 2028 FIRE Cohort
« Reply #16 on: May 12, 2017, 12:27:09 PM »
I started the 2029 cohort thread and was hoping that'd be my go year. I think though, looking at all of our numbers again today, using several spreadsheets and online tools, that 6/1/28 will be my FIRE date. My Wife will go probably in June of '26 or '27 depending on a few factors. When I started this journey 11 months ago I was really really hoping for 2032. I've managed to shave 4 years off of that! Of course only time will tell, but as far as I can plan for these things, 6/1/28 looks like it's a go!

DeskJockey2028

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Re: 2028 FIRE Cohort
« Reply #17 on: May 17, 2017, 08:58:18 AM »
Just 3,880 days until January 1, 2028!

SquirrelStache

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Re: 2028 FIRE Cohort
« Reply #18 on: July 01, 2017, 07:09:13 AM »
Throwing my lot in here with some very back of the napkin math :-)

My hubby will be 62 in 2028 so he will definitely be retiring then. I will be 49, and I'm hoping to follow him into the FIRE.

AmyS

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Re: 2028 FIRE Cohort
« Reply #19 on: July 01, 2017, 07:43:51 AM »
My first post - I'm in! I'll be 62. That doesn't count as early retirement for most folks here, but it is about 8 years earlier than I had anticipated pre-MMM.

I hadn't calculated what year that would be, but now I know - hooray!

blacktea

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Re: 2028 FIRE Cohort
« Reply #20 on: July 04, 2017, 10:57:19 AM »
Me too. really hope to make FIRE stage at 2028. No debt other than mortgage, decent savings. but currently spending too much money on eating out, kid and vacation. :-(

DeskJockey2028

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Re: 2028 FIRE Cohort
« Reply #21 on: September 07, 2017, 09:57:57 AM »
Just 2,588 working days left until 1/1/28 - that is if you don't count weekends or American holidays.

Egad!

bigote2032

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Re: 2028 FIRE Cohort
« Reply #22 on: November 19, 2017, 10:53:08 PM »
Hello GreenShirt and everybody else shooting for 2028! Thanks for creating this cohort.

Currently 39 making extra payments (equity of 100K out of 300K) on mortgage, maxing out 401K, plan to do backdoor ROTH IRA and the rest going to stock (index funds).

Folks we have a long way to go, but at least I hope to reach FI by 2028, time will tell if I get to the RE part (average returns from market should get me to RE as long has we don't have a great depression).  If I have a job I love I might continue working and we will see how the market  helps (or not) with our investments.

Best of luck to all of you, looking forward to share status/concerns/ideas with youi.

Cheers.

haypug16

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Re: 2028 FIRE Cohort
« Reply #23 on: November 20, 2017, 10:21:49 AM »
I'm in the 2030 Cohort but 2028 is my stretch goal. I turn 50 on Dec 20th 2028 so it would be great to Retire then. If I can increase my savings a little and decrease my spending a little more than I can hit this goal.

I just joined MMM in March/April of this year. I spend this year tracking spending and paying down debt. I set some small goals of basically just spend less than I did last month. 2018 will be my first year of tracking everything and setting a yearly spend goal which I will hopefully be able to keep as my yearly spend each year going forward (adjusting slightly for inflation)

bigote2032

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Re: 2028 FIRE Cohort
« Reply #24 on: November 21, 2017, 12:19:38 AM »
Hi, haypug16, pretty much same boat since I will be 50 by then as well.  Currently making extra payments on mortgage to be completely debt free on FIRE target date.  I am worrying too much about health insurance right now, I am telling myself that I am 10 years from it, it might be a totally different picture by then (I hope for the best).

haypug16

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Re: 2028 FIRE Cohort
« Reply #25 on: November 21, 2017, 07:22:28 AM »
Bigote2032 - Same RE: Health Ins. I have no idea what to plan for so I'm just estimating based on a quote I got if I needed to buy Heath Ins now. I figure I'll just periodically re-check the numbers to see if they still make sense. You're right it could be totally difference in 10 years.
DH and I have started making twice a month payments to reduce the amount of Interest we end up paying on the Mortgage but DH is in the the "Don't pay off Mortgage" group since our Interest rate is very low (3.5% I think).

DeskJockey2028

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Re: 2028 FIRE Cohort
« Reply #26 on: November 21, 2017, 11:29:57 AM »
Health care is one thing I feel pretty lucky about regarding my current job. If I can hang in there another 10 years to 2028, I'll be 55 and qualify to pay the same monthly premium every other employee pays, while my employer picks up the rest. We've got a (for the US anyway) pretty decent health plan too with not a lot of out of pocket expenses. My last surgery cost me $50 plus about $12 in prescriptions.

But that means that 2028 is the earliest I'll be able to retire too, as that's when I'll qualify for this perk.

haypug16

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Re: 2028 FIRE Cohort
« Reply #27 on: November 21, 2017, 12:23:02 PM »
Health care is one thing I feel pretty lucky about regarding my current job. If I can hang in there another 10 years to 2028, I'll be 55 and qualify to pay the same monthly premium every other employee pays, while my employer picks up the rest. We've got a (for the US anyway) pretty decent health plan too with not a lot of out of pocket expenses. My last surgery cost me $50 plus about $12 in prescriptions.

But that means that 2028 is the earliest I'll be able to retire too, as that's when I'll qualify for this perk.

That's a pretty great perk to hang around for.

DeskJockey2028

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Re: 2028 FIRE Cohort
« Reply #28 on: November 21, 2017, 12:35:20 PM »
Yes it is. I also shouldn't say it's the "one thing I feel pretty lucky about regarding my current job." I mean, the jobs more than tolerable, the work is interesting, the hours are good and I like most of the folks I work with. There are other benefits too.

Still, if I had my druthers, I'd be out sooner, but I can't do that without a fully stocked stash and a healthcare solution. Both of which will happen when I'm 55 (fingers crossed)!

bigote2032

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Re: 2028 FIRE Cohort
« Reply #29 on: November 21, 2017, 11:21:20 PM »
Great for you DeskJockey.  My current job does not have that great perk but it's not the worst job I have ever had.  It does not really get me excited to wake up every morning but it's Ok, great pay and the people around me are not too bad, not too much backstabbing and politics at the moment.

Good FU Money would allow me to quit anytime if things get bad or get some no tolerable job but hoping it never gets to that so I can keep contributing to stache.

Regarding the health insurance, me too, once in a while I get quotes from ehealthinsurance.org, premera.com, kaiserpermanente.org and even the religious thingie libertyhealthshare.org (not really religious but man, I would try it if I can save some good money).

Those are the main ones people use here in WA.  I try at different dates to have an idea on budgeting.

the_FI_engineer

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Re: 2028 FIRE Cohort
« Reply #30 on: March 23, 2018, 12:14:48 PM »
Hey everyone, stopping in to say hey and join the 2028 class!

I've been a lurker in the forums for several years now, ever since I started reading MMM in late 2015. Looking forward to getting to know everyone and continuing on this journey together!

In the interest of sparking up a conversation with other members of this cohort, what is your main driving force for working toward FIRE? For me it's mostly about achieving a lifestyle where I can be a fully present parent to my future children (coming in the next couple years, hopefully!). I'm getting married to my fairly frugal fiance next year, and we're both interested in a more independent lifestyle that allows us to be a closer family. Reason number two is to gain the freedom to get back into being a musician in a live band. My career makes it difficult to be a reliable band member, so I had to leave that side of my life behind when I started working after college. Looking to get back into live performances, there's nothing like it!

« Last Edit: March 27, 2018, 02:18:23 PM by the_FI_engineer »

DeskJockey2028

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Re: 2028 FIRE Cohort
« Reply #31 on: March 26, 2018, 06:58:12 AM »
I won't be retiring as early as many here on these forums - but compared to where I was a few years ago (thinking I'd retire between 67-70) I'm leaps and bounds ahead of my past self. I'll be looking to get out between 55 and 57 (2027-2029) depending on when my finances hit where I want them. Mid-2028 is most likely for me.

Why? Because I enjoy every day off about 100% more than my working days. Because I have a million things I want to do or try and enough time to indulge in perhaps 1 per day. Because I want the security with knowing that I'm not dependent on a large, heartless organization to eat and have a roof over my head. And I want to be there for my kids when or if they start having kids of their own.

FIRE@50

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Re: 2028 FIRE Cohort
« Reply #32 on: June 01, 2018, 02:27:11 PM »
I plan to FIRE on 6/1/28 which happens to be exactly 10 years from today. My wife and I will both be 50 and our daughter will be 18.

I really like the idea of retiring as soon as our daughter is an adult. No more responsibilities, right?

DeskJockey2028

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Re: 2028 FIRE Cohort
« Reply #33 on: June 03, 2018, 01:45:04 PM »
That's the exact same tentative date I have! 6/1/28!

I plan to FIRE on 6/1/28 which happens to be exactly 10 years from today. My wife and I will both be 50 and our daughter will be 18.

I really like the idea of retiring as soon as our daughter is an adult. No more responsibilities, right?

jamesdg33

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Re: 2028 FIRE Cohort
« Reply #34 on: June 04, 2018, 03:41:31 PM »
2028? Count me in! Setting the goal to retire by 35. I'm using the mad fientist's laboratory to help track, its pretty nifty. Any others use his tools?

I tried using his tools! Seem a bit MAD though! I am mostly tracking using excel (I'll be 40 in 2028, so I am a digital native, but used to offline tools more than online). Where is Green Mountain?

GreenEngineer3

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Re: 2028 FIRE Cohort
« Reply #35 on: June 20, 2018, 03:15:09 PM »
Joining the Class of 2028....  Hoping to coincide with my 25th year of marriage with a long celebratory vacation with the wife.  Hopefully, daughter will be 23 and out of college and son will be 21 entering his senior year of college.  I have a target retirement goal amount, so the actual date may vary depending on how well/poorly my portfolio is tracking. 

Retiring in my mid-50s seems like early retirement to me, so I'm content with that decision.... 

fuzzy math

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Re: 2028 FIRE Cohort
« Reply #36 on: June 20, 2018, 04:14:53 PM »


My wife and I did some fuzzy math the other day

I came here to see what was going on with the 2028ers, since I am currently aiming for 2027, and I find out that I've apparently been with Green Shirt, his wife, and ducky 19.

If there was ever a warm welcome, I guess this would be it! My oldest child should be in his last semester of college starting Jan 2028 and if I am still at my current job, it would benefit me to stay through January to get that last tuition reduction through.

ducky19

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Re: 2028 FIRE Cohort
« Reply #37 on: June 21, 2018, 08:54:49 AM »


My wife and I did some fuzzy math the other day

I came here to see what was going on with the 2028ers, since I am currently aiming for 2027, and I find out that I've apparently been with Green Shirt, his wife, and ducky 19.

If there was ever a warm welcome, I guess this would be it! My oldest child should be in his last semester of college starting Jan 2028 and if I am still at my current job, it would benefit me to stay through January to get that last tuition reduction through.

I can't believe you don't remember that! It was a grand ole' time... ;)

hudsoncat

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Re: 2028 FIRE Cohort
« Reply #38 on: June 22, 2018, 06:16:34 AM »
DH and I are targeting early to mid-2028. House should be paid off (only current debt), conservative projections say we should hit our target. But as others said above, ten years out is enough for a lot to happen, both good and bad!

The last two months have been spendy enough to make me question if we'll need to save a little more. Nothing outrageous, but several house, car, and medical issues that have all cost $1000 here, $2500 there, $4000 over there, oh look! there goes another $1500... Thankful for enough savings that these have all been minor annoyances rather than major concerns.

Otter+Badger

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Re: 2028 FIRE Cohort
« Reply #39 on: July 23, 2018, 07:51:38 PM »
Hello!

My husband and I plan to FIRE on July 1, 2028.  He will be 56 and I will be 52.  We got a late start, but we are here now and ready to learn.

We currently have $240,000 in retirement accounts.  We are saving for a down payment on a house, while currently owning a condo.  My plan has us buying and paying off our house by the end of 2024. By July of 2028,we should have $850,000 in our retirement accounts, using a 5% return rate.  We should be able to live comfortably on a 3.5% withdrawal rate.

My main concern is healthcare.  I was diagnosed with breast cancer at 40, despite being very healthy (I ran marathons!) and having no family history or genes for it. My husband was diagnosed with diabetes.  We work out every morning and try to eat healthy, so we are controlling what we can.  We just don't know what our national health insurance situation will be.

But, we are thankful everyday to be able to work to have three complete freedom to pursue our passions and spend time with our family and friends.  I have learned that we may not get a long life and traditional retirement.

I am excited to learn from you.  I want to stay focused on our goal, but also enjoy the ride.
« Last Edit: July 24, 2018, 08:16:18 AM by Otter+Badger »

GUNDERSON

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Re: 2028 FIRE Cohort
« Reply #40 on: September 16, 2018, 03:45:26 PM »
Hi, I'm officially joining this group! I'll be turning 43 in 2028. I'm a writer with an awesome/fun/flexible job that allows me to work from home and travel for work and take an absurd amount of vacation time, so I'm in no rush whatsoever to RE. I just want to have options, since mine is a volatile field, and FI would allow me to focus completely on the projects that are most important to me, and it's nice to have a specific goal. (Right now even a very non-FI cushion helps me feel a lot better about my future and options.) And I'm not constitutionally a spendypants anyway, so it's not a huge sacrifice.

I make anywhere from 60-90k before taxes (though this sometimes includes lots of reimbursed travel expenses), which will hopefully be going up a tad every year. Income may fluctuate even more in the future due to books. Right now I have 255k net worth (retirement accounts, hsa, taxable accounts, cash) and I hope to save at least 30k every year. I could probably be more extreme about it, but I really don't want the FI quest to take over my thoughts/life.

Nice to meet you, cohort!