Author Topic: 2029 FIRE Cohort  (Read 7284 times)

DeskJockey2028

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2029 FIRE Cohort
« on: March 13, 2017, 10:03:55 AM »
I've done a bit of searching and haven't found 2029 yet, so here it is! I follow the 2028 and 2030 Cohorts but I'm pretty solidly set on 2029 unless something utterly drastic happens. So here we are! Hoping this is of use to more folks than just me!

If the market behaves like the market has behaved in the past, I'll be turning 57 in July of 2029 and retiring in August of 2029. There's always the chance of a wickedly good turn of the market or an inheritance (sadly) earlier than we have planned which could shorten this. 2029 though is fairly conservative for us - we should be good to go without issue then.

So if this is you as well, welcome! If you're just passing through, hello! In either case, come help us pass a tiny fraction of that time until 12 years from now we wave goodbye to our full time employment!

FI4good

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Re: 2029 FIRE Cohort
« Reply #1 on: March 13, 2017, 11:03:23 AM »
Hi Deskjockey ,
 2029 i'll be the magic 55 years old, the earliest age you can get your hands on your pension monies here in the UK . I may fire earlier if the post tax (isa) accounts do well . I may hang fire if i'm enjoying work, the freedom of choice will be great.

july 29' is my rough guess.

Goodluck all .

DeskJockey2028

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Re: 2029 FIRE Cohort
« Reply #2 on: March 13, 2017, 11:06:19 AM »
I could go a bit earlier if everything works out really well, but only up to 2 years. At age 55 I'll have enough work/age combo to only pay my current monthly health care premium to keep my (mostly paid for by work) health insurance. That alone will save me a boat load until I'm 65.

DeskJockey2028

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Re: 2029 FIRE Cohort
« Reply #3 on: March 16, 2017, 07:29:58 AM »
Just 4,309 days until January 1, 2029!

High Income Parent

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Re: 2029 FIRE Cohort
« Reply #4 on: March 16, 2017, 08:36:00 AM »
My youngest will be in college in 2029 so that is my goal as well to hit ER by then. Hopeful FI will be a little earlier but I like what I do so as long as they let me keep doing it, I will until then.

DeskJockey2028

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Re: 2029 FIRE Cohort
« Reply #5 on: March 17, 2017, 07:35:12 AM »
My youngest will be 23 in 2029. Hopefully out of college or on to some kind of grad work - but she's 11 right now and it's a little hard to tell. :)

On a side note, I filled out one of those Mint 'goal' things regarding saving for retirement. I had to tweak the numbers a bit as it doesn't take into account Social Security, Pensions, etc. but got it fairly close. According to Mint, if I keep saving at this rate, I'll actually reach my FI number about 2 years early. But of course, if I want to retire earlier, that FI number has to be a little higher....

My youngest will be in college in 2029 so that is my goal as well to hit ER by then. Hopeful FI will be a little earlier but I like what I do so as long as they let me keep doing it, I will until then.

SeaKayEl

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Re: 2029 FIRE Cohort
« Reply #6 on: April 01, 2017, 09:23:33 PM »
Hi everyone!  Happy to be here :D

My goal is to FIRE in July 2029, I will be 45. 

I have a lot of work to do from now until then since I only started this journey about a year ago.

So far I have gotten rid of credit card & personal loan debt.

Next step is to pay off student loans.

DeskJockey2028

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Re: 2029 FIRE Cohort
« Reply #7 on: April 02, 2017, 06:49:29 PM »
Welcome  SeaKayEl! We're all still a ways away from 2029 so it's nice to see some folks starting to gather in this group!

FI4good

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Re: 2029 FIRE Cohort
« Reply #8 on: April 05, 2017, 02:28:01 AM »
Feeling a bit low that the goal seems so far away today.

I might try and scrape some money up from down the back of the sofa and add it to my savings today so i feel a bit closer.

Maybe i need to focus on gratitude for the life i have today, rather than dreaming too far ahead and feeling a little bit disappointed when i return to where and when i am now.

Perseverance will win out . 


DeskJockey2028

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Re: 2029 FIRE Cohort
« Reply #9 on: April 05, 2017, 07:28:54 AM »
I run into this a fair bit too. I've found a bunch of coping mechanisms - but I'm my own unique snowflake so these may or may not work for the rest of this cohort.

First, I do try to focus on what I have now. Yes, I have a job - but I also have my family, my hobbies, my interests, my undying love of good craft beer, etc.

Second, I have a plan for FIRE. I check into it often - perhaps sometimes an unhealthy amount but hey, it's one of my hobbies too. In doing so, since last June, I've shaved my expected FIRE date from 2032 (hence my handle on this forum) to 2029 and may, may just get that down to 2028. If the market does spectacularly well, maybe even 2027?

I also love dreaming about the future. I love planning things. I've got a huge road trip being planned for 10-12 years from now. I've already started planning ideas for my 20th anniversary with my wife (in 2020, which is cool) and I have a google calendar dedicated to all things future. As, I suppose, only calendars are really good for. I've got my kids birthdays marked out with important milestones (13th, 16th, 18th, 21st). I've got my and my wife's 50th. I've got check-in's for the FIRE plan (updating various docs one a month/quarter/year depending), I've got anticipated "increase my savings rate" dates when I should be getting raises. I've got the the '250s' marked out as well. Starting last year, every 250th day from 5000 days down is marked on my calendar. I love seeing those things pop up in my emails. Oh! Just 4,750 days to go! That's a huge number! But it keeps going down.

I also have this stupid countdown enabled, which I'd like to point out, is at exactly 4500 days as of 3pm EST today.

I've even done what you're contemplating with the couch, in a way. I found $25 in my account a few days before payday that I wasn't planning on spending. So I threw it into my Roth (I'm not even close to maxing it out). Hey, I figure every day in retirement will cost me about $120, so there's a few more hours I just bought myself.

Feeling a bit low that the goal seems so far away today.

I might try and scrape some money up from down the back of the sofa and add it to my savings today so i feel a bit closer.

Maybe i need to focus on gratitude for the life i have today, rather than dreaming too far ahead and feeling a little bit disappointed when i return to where and when i am now.

Perseverance will win out .
« Last Edit: April 05, 2017, 07:32:01 AM by DeskJockey2032 »

FI4good

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Re: 2029 FIRE Cohort
« Reply #10 on: April 06, 2017, 06:44:23 AM »
Thanks DJ,
 4438 to go, one less than yesterday. Only about a month to go and i'll drop into the 43 hundreds.

I have broken through the 222 score days left.  hurrah !

DeskJockey2028

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Re: 2029 FIRE Cohort
« Reply #11 on: April 19, 2017, 10:25:22 AM »
Hey all... 4 of us! How's it going? Seeing as we're still a ways off, do you think the FIRE mindset is actively affecting your current work day/motivation?

FI4good

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Re: 2029 FIRE Cohort
« Reply #12 on: April 19, 2017, 02:16:50 PM »
OK here, but ...

I have a defined benefit pension from my old employment due to pay out approximately x a year at age 62 . It might be worth as much x *24 today to cash it in and roll it into the UK equivalent of the 401k i have with my current employer. 
 
I keep thinking of the potential for growth and compounding it has invested in the markets over the next 10 or 12 years and it adding to my quality of life at 55 rather than 62, my partner is 10 years older so having big money at 55 & 65 rather than a little regular and often at 62 & 72 could make the autumn years a bit sweeter  .

I'd have to live till at least 87 for the defined benefit to pay out the lump sum and after the hard drinking and smoking i used to do i somehow doubt thats going to happen. 


 I'm feeling like it's a no brainer to cash it in and roll it as it could boost the pension pot , i'd have to live another 80 years for the db scheme to pay that out, 123 years old I doubt that's going to happen.

Any input or thoughts appreciated.. if i'm missing something to my detriment .

i could maybe FIRE earlier but would want to see a few years of solid returns before i cut back on the pension and used net income to pay into the UK iSA ( a tax free wrapper limited to 20,000 per year investment from taxed income into stocks , bonds or instruments )  the income tax and national insurance hit of 33% just doesn't appeal when 55 is on the horizon .



How you doing SeaKayEi & High Income Parent
« Last Edit: September 17, 2017, 08:40:43 AM by FI4good »

SeaKayEl

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Re: 2029 FIRE Cohort
« Reply #13 on: April 19, 2017, 08:11:55 PM »
Hey all... 4 of us! How's it going? Seeing as we're still a ways off, do you think the FIRE mindset is actively affecting your current work day/motivation?

Not in a negative way.  I am still in the "wicked motivated" phase ..... probably because my net worth is still negative ;)

SeaKayEl

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Re: 2029 FIRE Cohort
« Reply #14 on: April 19, 2017, 08:17:25 PM »
OK here, but ...

I have a defined benefit pension from my old employment due to pay out approximately 5000 a year at age 62 . It might be worth as much 120,000 today to cash it in and roll it into the UK equivalent of the 401k i have with my current employer. 
 
I keep thinking of the potential for growth and compounding it has invested in the markets over the next 10 or 12 years and it adding to my quality of life at 55 rather than 62, my partner is 10 years older so having big money at 55 & 65 rather than a little regular and often at 62 & 72 could make the autumn years a bit sweeter  .

I'd have to live till at least 87 for the defined benefit to pay out the 120k at 5k a year and after the hard drinking and smoking i used to do i somehow doubt thats going to happen. 

The current savings i'm making might be worth approx 300,000 assuming 7% compounding in 10 - 12 years time ... with the lump sum added this year to the current savings plan a compound interest calculator comes up with roughly 700,000 at 7%  ..

 I'm feeling like it's a no brainer to cash it in and roll it as it could boost the pension pot by 400,000, i'd have to live another 80 years for the db scheme to pay that out, 123 years old I doubt that's going to happen.

Any input or thoughts appreciated.. if i'm missing something to my detriment .

i could maybe FIRE earlier but would want to see a few years of solid returns before i cut back on the pension and used net income to pay into the UK iSA ( a tax free wrapper limited to 20,000 per year investment from taxed income into stocks , bonds or instruments )  the income tax and national insurance hit of 33% just doesn't appeal when 55 is on the horizon .



How you doing SeaKayEi & High Income Parent

FI4good--I am not sure I am knowledgeable enough yet to be able to offer any advice or suggestions.

Doing good on my end.  I started a "Race to Positive Net Worth" thread as this is a major milestone for me.  I am aggressively paying down my student loans which means I am not putting a lot of my money into investments currently.  Regardless, this is bringing me closer to 0!

DeskJockey2028

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Re: 2029 FIRE Cohort
« Reply #15 on: April 20, 2017, 07:44:05 AM »
Please note - this is just my opinion. I'd cash it in and invest it. But that's me - you have to consider your entire journey and what may happen over the next 12ish years.

OK here, but ...

I have a defined benefit pension from my old employment due to pay out approximately 5000 a year at age 62 . It might be worth as much 120,000 today to cash it in and roll it into the UK equivalent of the 401k i have with my current employer. 
 
I keep thinking of the potential for growth and compounding it has invested in the markets over the next 10 or 12 years and it adding to my quality of life at 55 rather than 62, my partner is 10 years older so having big money at 55 & 65 rather than a little regular and often at 62 & 72 could make the autumn years a bit sweeter  .

I'd have to live till at least 87 for the defined benefit to pay out the 120k at 5k a year and after the hard drinking and smoking i used to do i somehow doubt thats going to happen. 

The current savings i'm making might be worth approx 300,000 assuming 7% compounding in 10 - 12 years time ... with the lump sum added this year to the current savings plan a compound interest calculator comes up with roughly 700,000 at 7%  ..

 I'm feeling like it's a no brainer to cash it in and roll it as it could boost the pension pot by 400,000, i'd have to live another 80 years for the db scheme to pay that out, 123 years old I doubt that's going to happen.

Any input or thoughts appreciated.. if i'm missing something to my detriment .

i could maybe FIRE earlier but would want to see a few years of solid returns before i cut back on the pension and used net income to pay into the UK iSA ( a tax free wrapper limited to 20,000 per year investment from taxed income into stocks , bonds or instruments )  the income tax and national insurance hit of 33% just doesn't appeal when 55 is on the horizon .



How you doing SeaKayEi & High Income Parent

DeskJockey2028

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Re: 2029 FIRE Cohort
« Reply #16 on: April 20, 2017, 07:50:40 AM »
I was noodling around with my numbers and made an interesting discovery. If I claim my social security at 67 (like I was initially planning to do) I'd receive $22,800/year - that's in 2039. If I claim it at 63, I'd receive $18,840 a year. That works out to $75,360 I'd make in the four years between 63 and 67. It would take about 19 years to recoup that $75k if I took the greater payment at 67 - which puts me at 87 years old.

It works out much better to take the lower payment in every scenario I've tried. Doing that without changing a thing takes my firecalc numbers from 96.1% to and easy 100%. It changes my Fidelity RIP tool from 101 to 104.

I'd not thought of it in those terms before but I'm definitely going to get my money out earlier. :)  This is of course considering that SS will exist, blah blah blah - so I'll adjust plans accordingly when that time gets closer.
« Last Edit: April 20, 2017, 07:53:24 AM by DeskJockey2032 »

FI4good

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Re: 2029 FIRE Cohort
« Reply #17 on: April 20, 2017, 08:04:04 AM »
Great going SeaKayEi,
 Not owing anyone anything in this world is a very powerful and freeing place to be, I hope it happens for you soon . 

msmargarita

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Re: 2029 FIRE Cohort
« Reply #18 on: April 20, 2017, 09:09:18 AM »
Hello All!  My husband and I are planning a FIRE date in 2029, when the youngest is hopefully off to college/trade school.  No debt except for mortgage, so we are just trying to save as much as possible. We are on track to hit our stretch savings goal this year, and hope to keep that momentum going!

DeskJockey2028

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Re: 2029 FIRE Cohort
« Reply #19 on: April 20, 2017, 09:11:34 AM »
Woo! Welcome! In 2029, my youngest'll be 23 and quite possibly done with college. We're in a similar boat with you - no real debt but mortgage, a little under $3k in 0% credit card debt that we'll pay off fully the month before it isn't 0% and saving as much as we can.

Hello All!  My husband and I are planning a FIRE date in 2029, when the youngest is hopefully off to college/trade school.  No debt except for mortgage, so we are just trying to save as much as possible. We are on track to hit our stretch savings goal this year, and hope to keep that momentum going!

FI4good

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Re: 2029 FIRE Cohort
« Reply #20 on: April 20, 2017, 10:55:12 AM »
Interesting bit of number crunching DJ,

 I believe you can defer similarly here in the UK , the state age is now 67 for me. The benefit of deferment works out in my favour after about 17 years ( 5.8% increase in payment per year of deferment ). 84 at least .. hmm .

The SS payment makes things more robust i guess , after 67 i'd only be pulling 75-50% of my income from the stash rather than 100% so i'd be dropping my withdrawals to something like 2-3 % , more reinvestment , more compounding and a run-away ball of sticky cash hopefully .

 Nice to see the Cfire sim hit 100 based on past performance, there should be trumpets and balloons .

Welcome msmargarita

SeaKayEl

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Re: 2029 FIRE Cohort
« Reply #21 on: April 20, 2017, 08:34:15 PM »
Great going SeaKayEi,
 Not owing anyone anything in this world is a very powerful and freeing place to be, I hope it happens for you soon .

Thanks FI4good--I do too!

Hello All!  My husband and I are planning a FIRE date in 2029, when the youngest is hopefully off to college/trade school.  No debt except for mortgage, so we are just trying to save as much as possible. We are on track to hit our stretch savings goal this year, and hope to keep that momentum going!

Hi msmargarita.  Welcome to the 2029 gang!

FI4good

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Re: 2029 FIRE Cohort
« Reply #22 on: April 30, 2017, 08:08:37 AM »
4264 days to go till 1/1/2029


SeaKayEl

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Re: 2029 FIRE Cohort
« Reply #23 on: April 30, 2017, 09:13:02 AM »
4264 days to go till 1/1/2029

Love the countdown! :D

FI4good

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Re: 2029 FIRE Cohort
« Reply #24 on: April 30, 2017, 01:31:14 PM »
Cheers SeaKayEI

4312 days from march 13th 17 till 1/1/29

We're over 1% of the way from thread launch to 1/1/29, 2% is on June 7th, only a few weeks to go.

DeskJockey2028

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Re: 2029 FIRE Cohort
« Reply #25 on: May 01, 2017, 07:09:25 AM »
Woo hoo! When will 10% be? We should have a small, totally online celebration! ;)

I'm down to 4414 DAYS 05 HOURS 52 MINUTES or so as of this writing. I got a decent 61 day drop when I moved my official "this will really work" retirement date from August 1 2029 to June 1 2029. I'm hoping to dial it back to June 1, 2028 but it's all going to depend on how the market's doing and how well my savings rates stays with 2 kids going through high school and into college.

FI4good

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Re: 2029 FIRE Cohort
« Reply #26 on: May 01, 2017, 09:38:39 AM »
Friday May 18th 2018 is 10% 431.2 days from thread inception , 5% Oct 14th 2017 for 1/1/2029 FIRE .

5% of the time and October of this year seems like a visible and achievable date upon the horizon to me. 1/20th of the journey.

I might crunch the numbers for June but i was trying to look at the motivational aspects of making the days till 2029 seem as small as possible .

DeskJockey2028

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Re: 2029 FIRE Cohort
« Reply #27 on: May 01, 2017, 10:02:37 AM »
Okay, that's going into my calendar. :)

No worries about June - just keep it at day 1 of 2029 - that's THE YEAR, right? I'm enthusiastic about this now even though we're a good ways away - being a year or less from FIREing will have me all kinds of giddy.

Friday May 18th 2018 is 10% 431.2 days from thread inception , 5% Oct 14th 2017 for 1/1/2029 FIRE .

5% of the time and October of this year seems like a visible and achievable date upon the horizon to me. 1/20th of the journey.

I might crunch the numbers for June but i was trying to look at the motivational aspects of making the days till 2029 seem as small as possible .

DeskJockey2028

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Re: 2029 FIRE Cohort
« Reply #28 on: May 01, 2017, 10:28:23 AM »
To expand on FI4good's numbers, here's my breakdown. Please feel free to check the numbers. :) I did end up at 1/1/29 so I'm reasonably confident I added everything correctly. I'm big into milestones - just seeing these pop up in my calendar makes me happy. I've included the decimal points in my math - but not in the rest of the percentages - just know that at some point in that 24 hour day, you'll be passing through the threshold.

I am - self admittedly - a little obsessed with this at times. I blame some thorough downtime at work and a boring lunch hour.

Since Thread Inception (3/13/17) - 4312 days to 1/1/29.

5% = 215.6 (so 2pm, local time.) 10% = 431.2 days (so 4am local time!).

2% - 6/7/17
5% - 10/14/17
10% - 5/18/18
15% - 12/19/18
20% - 7/22/19
25% - 2/24/20

30% - 9/26/20
35% - 4/30/21
40% - 12/1/21
45% - 7/5/22
50% - 2/6/23

55% - 9/9/23
60% - 4/12/24
65% - 11/13/24
70% - 6/17/25
75% - 1/19/26

80% - 8/22/26
85% - 3/26/27
90% - 10/27/27
95% - 5/30/38
100% - 1/1/29

FI4good

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Re: 2029 FIRE Cohort
« Reply #29 on: May 01, 2017, 01:41:24 PM »
Thanks DJ ,
 i was noodling with the numbers but as it's bank holiday here and not a work day i wasn't hugely focused on distracting myself .

At the moment i'm wondering if i should up the pre-tax payment at the expense of the post tax , tax and national insurance being about 33% in total here for someone like me on 34,500 so it's a substantial saving.

By saving post tax i get to escape earlier but the penalty is the 33% tax upfront.

My firm allow a 1 year sabbatical so i could break things up with a gap year or maybe 2x6 months to do a pre fire spending test run from the ISA account ( ISA is a post tax, then tax free savings account) .

I'd quite like to rent a small apartment on a greek island for the summer and have 6 months being a beach bum , maybe working in a bar or serving if I'm not pinching a job from a local, maybe paint some pictures , learn some greek , return to work just to make sure that FIRE is real life and the world of work is a bonkers fantasy.

Nothing to worry about this side of 2025 i guess ..

SeaKayEl

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Re: 2029 FIRE Cohort
« Reply #30 on: May 01, 2017, 08:13:05 PM »
To expand on FI4good's numbers, here's my breakdown. Please feel free to check the numbers. :) I did end up at 1/1/29 so I'm reasonably confident I added everything correctly. I'm big into milestones - just seeing these pop up in my calendar makes me happy. I've included the decimal points in my math - but not in the rest of the percentages - just know that at some point in that 24 hour day, you'll be passing through the threshold.

I am - self admittedly - a little obsessed with this at times. I blame some thorough downtime at work and a boring lunch hour.

Since Thread Inception (3/13/17) - 4312 days to 1/1/29.

5% = 215.6 (so 2pm, local time.) 10% = 431.2 days (so 4am local time!).

2% - 6/7/17
5% - 10/14/17
10% - 5/18/18
15% - 12/19/18
20% - 7/22/19
25% - 2/24/20

30% - 9/26/20
35% - 4/30/21
40% - 12/1/21
45% - 7/5/22
50% - 2/6/23

55% - 9/9/23
60% - 4/12/24
65% - 11/13/24
70% - 6/17/25
75% - 1/19/26

80% - 8/22/26
85% - 3/26/27
90% - 10/27/27
95% - 5/30/38
100% - 1/1/29

We have all benefited from your downtown and boring lunch hour!

FI4good

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Re: 2029 FIRE Cohort
« Reply #31 on: May 02, 2017, 09:37:47 AM »
Your killing it with rolling back that retirement day DJ .

Yes i've a penciled in plan for an even earlier retirement but i'm trying to keep my expectations low because disappointment sucks, i've not even considered a day or date .

If i were fully signed up for June 2029 i'd just chuck it all into the pre tax pension plan and leave it at that.

In the last month i've cut by 50 a week the monies my partner was giving me towards the rent an bills so he can clear bits of debt and maybe look at boosting his pension.

currently i save 23% into the pension and 14 % company match (37%) , 5% into pre tax stock purchase , total 42% .. hmm wonder if i can push another 8%

I'll send the e-mail after pay day for may to take effect in June to up my pension to 31% i think , aww dang why not just make it 33% 1/3rd sounds good .. i'll worry about making ends meet when i get to june ... will have to cut what i put into post tax savings ..
« Last Edit: May 02, 2017, 09:43:41 AM by FI4good »

DeskJockey2028

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Re: 2029 FIRE Cohort
« Reply #32 on: May 02, 2017, 09:47:03 AM »
That's been my technique. When I first started this journey, I figured I raise my direct 403(b) contributions from about the 4% it was at up to about 15% over the course of the next 4-5 years. So I raised it up to 8% and we continued to do fine. Then 9%, etc. I've gotten it up to 16% now in less than a year and we're still doing okay. Things are starting to get noticeably tighter though. :) I'm stopping here until next pay raise, which will be a 3.1% raise this coming October. I'll probably boost it up another 1-2% at that time. I'd love to keep our spending flat, but with two kids, one of 'em a teen and one not far from that, it's tough.

My job also contributes 10% to my 403(b). And then we have some post-tax money from a side gig that doesn't otherwise offer an retirement savings. That goes straight into a Roth IRA - $3700 contributed so far with a hope of maxing out our Roth this next tax year.

SharkStomper

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Re: 2029 FIRE Cohort
« Reply #33 on: May 04, 2017, 05:02:18 PM »
Hey guys,
I wanted to check in to the FIRE in 2029 thread.  That's looking like the year for us if things go well.  I'll be 60 and the Wifey will be 65 so with her medicare and my military medical coverage I think we can pull the cord.

DeskJockey2028

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Re: 2029 FIRE Cohort
« Reply #34 on: May 05, 2017, 07:10:41 AM »
Welcome SharkStomper! Do... do you actually stomp sharks?

Hey guys,
I wanted to check in to the FIRE in 2029 thread.  That's looking like the year for us if things go well.  I'll be 60 and the Wifey will be 65 so with her medicare and my military medical coverage I think we can pull the cord.

FI4good

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Re: 2029 FIRE Cohort
« Reply #35 on: May 05, 2017, 12:42:28 PM »
welcome along Shark Stomper, 

SharkStomper

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Re: 2029 FIRE Cohort
« Reply #36 on: May 05, 2017, 04:18:54 PM »
Welcome SharkStomper! Do... do you actually stomp sharks?

Only once!  :)

FI4good

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Re: 2029 FIRE Cohort
« Reply #37 on: May 06, 2017, 06:33:41 AM »
4258

SeaKayEl

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Re: 2029 FIRE Cohort
« Reply #38 on: May 06, 2017, 10:01:22 PM »
Hey guys,
I wanted to check in to the FIRE in 2029 thread.  That's looking like the year for us if things go well.  I'll be 60 and the Wifey will be 65 so with her medicare and my military medical coverage I think we can pull the cord.

Good to have you SharkStomper!

DeskJockey2028

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Re: 2029 FIRE Cohort
« Reply #39 on: May 10, 2017, 10:21:24 AM »
2923 until 1/1/29 - that is, if you don't count weekends and public holidays! Anytime that big 4200+ day count gets you down, just remember that on average, we'll have 1332 days off (in the US - other countries will probably get more). That's not including vacation days either.

FI4good

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Re: 2029 FIRE Cohort
« Reply #40 on: May 12, 2017, 12:17:03 PM »
crazy busy friday at work .

I was productive for myself in the morning.

Household energy has been switched to solar, wind and power from waste CHP cheaper than the firm i was with , not the cheapest but mustachianism is about being able to pay to choose & do the right thing IMHO .
 
I've upped my pension payment to 41% a 4% increase, a half way house to the 45% i'd like to get to.
« Last Edit: October 15, 2017, 01:49:32 AM by FI4good »

DeskJockey2028

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Re: 2029 FIRE Cohort
« Reply #41 on: May 12, 2017, 12:30:00 PM »
Re-running all of my numbers again today, tweaking them for my raise in October and the fact that I'll be bumping up my 403(b) contributions by another 1-2% and it looks like June 1 of 2028 is entirely doable!

Yay! That's 4 years off of my initial 2032 hope! 4 more years of being a little younger (I'll be 55 for a few months after retirement in 2028) and being able to enjoy life the way it should be enjoyed! I'll still be hanging around and active in this cohort as well! All it would take is one significant bump to drive me back up to 2029 - hopefully that won't happen but you never know.

FI4good

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Re: 2029 FIRE Cohort
« Reply #42 on: May 12, 2017, 12:57:00 PM »
DJ2032 is now DJ2028 .. 4 more years of personal power and autonomy , thats great . 

You must be closing in on 4000 days ! do you think there is a graph where ones expectation of FIRE date shrinks and then one more year creeps in and it starts moving away from you again ?

I'm going to doggedly stay focused on 1/1/2029 so i don't put myself under undue pressure . In the UK there is no backdoor roth and i don't own a house to have a cheap line of credit to borrow from myself.
 
June 2029 i turn 55 , i think i'll have enough in the ISA to see me good the 6 months from Jan , maybe i could be 2028 too but it's a long way off.
I want to enjoy summer '17 first and hope it lasts as long as it seemed to when i was 6 .

DeskJockey2028

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Re: 2029 FIRE Cohort
« Reply #43 on: May 12, 2017, 01:02:13 PM »
4,037 days from now. That'll be 3pm EST on June 1, 2028. !!!

I'm not sure about that graph but I can say this - It's still a long freaking way away! ;) Plenty of life to live in there as well. When I have lots of downtime at work, FIRE is what I start focusing on - but once I'm home for the day it's much less of the focus. For now though, that's still 4,037 days or 2,555 work days I'll have to slog through to get there.

If I can keep bumping up my savings rate I may be able to shave a few more months, even up to a year off of it. As it is though, I initially was really trying to retire by the time I turned 60 (in 2032) - now it looks like I'll have those last few months of 55 in my pocket as a retired person. I'll take it!

FI4good

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Re: 2029 FIRE Cohort
« Reply #44 on: May 13, 2017, 10:52:41 AM »
Letter received from my old DB scheme cash equivalent transfer value today of 133,000 ..

So pension of 5000 pa for life starting in 2037 with a inflation increase ceiling of 5% for the next 20 years, 50% to my partner ( 10 years older than me )  if i die first, then nothing left in my estate or 133k now into my DC with 12 years of whatever the markets will give or take, plus the ability to drawdown to nothing should i wish as i have no dependents.

It seems a no-brainer to me. if the market plunges by 50% the day after i invest and stays there i still have several years of dollar cost averaging investment i can do .

No change in plans yet, in the UK there are tax consequences if your equivalent of a 401k goes over 1,000,000 ( linked to inflation from 2019 i believe ) a long way to go yet if i ever get there. 

For a basic FIRE in 2029 i think i'd need not pay anymore money in, just kick my heels for the next 12 years as compounding takes care of business, i'd quite like some money for travel or have a lump sum for a house and am wary of the UK privatising the NHS so will carry on adding to the tax free for now.   

Because the CETV is over 30k the law says i now have to pay a financial advisor to take advice . Gah Bah humbug , we should have mustashian cards to flash that means we're not spendypants suckka consumers and are clued up stoic engineers making financial machines. I'll start that search in earnest on Monday, there is a woman who seems to fit with my values on social media locally so that will be the first person i'll check out. 

Good news eh ?

« Last Edit: May 13, 2017, 11:00:30 AM by FI4good »

PerpetualWanderlust

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Re: 2029 FIRE Cohort
« Reply #45 on: May 13, 2017, 07:52:29 PM »
My 38th birthday will be in 2029. Seems like a good time to pull the trigger.

I'm in.

FI4good

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Re: 2029 FIRE Cohort
« Reply #46 on: May 15, 2017, 09:00:25 AM »
Hi PerpetualWanderlust .

FI4good

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Re: 2029 FIRE Cohort
« Reply #47 on: May 15, 2017, 09:09:37 AM »
DeskJockey2032         1/2029 or earlier !
FI4good                     1/2029
High Income Parent     ?/2029
SeaKayEI                   7/2029
msmargarita              ?/2029
SharkStomper            ?/2029
PerpetualWanderlust   ?/2029

4249 days to go till 1/1/2029

SharkStomper

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Re: 2029 FIRE Cohort
« Reply #48 on: May 15, 2017, 01:30:32 PM »
DeskJockey2032         1/2029 or earlier !
FI4good                     1/2029
High Income Parent     ?/2029
SeaKayEI                   7/2029
msmargarita              ?/2029
SharkStomper            ?/2029
PerpetualWanderlust   ?/2029

4249 days to go till 1/1/2029

Put me down as 11/4/2029.

DeskJockey2028

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Re: 2029 FIRE Cohort
« Reply #49 on: May 17, 2017, 08:55:17 AM »
I need you folks to roll back your date to 2028 as well. Why? Because the 2028 cohort is (at this moment) kinda boring.

So get to work on that, okay?!