Author Topic: 2029 FIRE Cohort  (Read 62349 times)

DeskJockey2028

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Re: 2029 FIRE Cohort
« Reply #100 on: May 01, 2018, 09:10:36 AM »
Holy May Batman!

Hard to believe that we're finally, finally moving into spring and summer territory. I was glancing at the calendar and we're not all that far away from being in the double digits, percentage-wise for the first time too. 10% day is rapidly approaching.

On a personal financial journey note, my family recently crossed the $325k net worth line - even with a used car loan starting this January past. We've now had zero credit card debt for a few months, and should have the car loan gone by sometime next year. We keep plugging away!

DeskJockey2028

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Re: 2029 FIRE Cohort
« Reply #101 on: May 18, 2018, 05:47:36 AM »
And just like that, we're in double digits. Happy 10% day! 1/10th of the way to 2029!

Hey all! Tomorrow, Saturday the 14th, is 5% day! Look at that, we've already more than doubled our previous 2% milestone. :) Hope to see you all again on May 18th, 2018 for 10% day!

Happy 2% day!

SharkStomper

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Re: 2029 FIRE Cohort
« Reply #102 on: May 19, 2018, 05:32:33 AM »
Woohoo!  Cue the confetti!

DeskJockey2028

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Re: 2029 FIRE Cohort
« Reply #103 on: May 20, 2018, 06:40:25 AM »

DeskJockey2028

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Re: 2029 FIRE Cohort
« Reply #104 on: June 07, 2018, 07:14:41 AM »
Hey all,

Since I like round numbers, I figured I let everyone know it's 3860 days until 1/1/29. Remember back in the day when it was over 4000? :)

DeskJockey2028

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Re: 2029 FIRE Cohort
« Reply #105 on: July 09, 2018, 11:23:28 AM »
Anyone doing anything fun this summer?

I've got a double-whammy fun time planned for the end of this month. My kids are going away with my in-laws and at the same time, I'm going away with my wife. It's like Christmas for everyone!

Other than that, we've got a family vacation planned for late August as well, which will involve a lot of beach/boardwalk time and perhaps some light hiking and lots of reading/game playing/lounging around.

How about you?

TexasT

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Re: 2029 FIRE Cohort
« Reply #106 on: July 09, 2018, 03:08:04 PM »
New here, but checking in for (potential end of) 2029! We plan to make it happen, but hit some speedbumps last year that slightly set us back. Still, that would put me and the wife at 37/38 which seems leaves us lots of time left!

We travel a lot (being a travel hacking blogger helps since it can become a business expense and costs us next to nothing) so have planned trips to Argentina in October, St. Kitts later this month, and potentially a trip over to Europe for Christmastime. Making travel profitable for us really helped justify the expense!


Anyone doing anything fun this summer?

I've got a double-whammy fun time planned for the end of this month. My kids are going away with my in-laws and at the same time, I'm going away with my wife. It's like Christmas for everyone!

Other than that, we've got a family vacation planned for late August as well, which will involve a lot of beach/boardwalk time and perhaps some light hiking and lots of reading/game playing/lounging around.

How about you?


DeskJockey2028

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Re: 2029 FIRE Cohort
« Reply #107 on: July 10, 2018, 06:46:55 AM »
Hey TexasT, welcome!

Sounds like you get to see a ton of interesting things!

New here, but checking in for (potential end of) 2029! We plan to make it happen, but hit some speedbumps last year that slightly set us back. Still, that would put me and the wife at 37/38 which seems leaves us lots of time left!

We travel a lot (being a travel hacking blogger helps since it can become a business expense and costs us next to nothing) so have planned trips to Argentina in October, St. Kitts later this month, and potentially a trip over to Europe for Christmastime. Making travel profitable for us really helped justify the expense!

TexasT

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Re: 2029 FIRE Cohort
« Reply #108 on: July 10, 2018, 01:01:46 PM »
Definitely! Landing a side hustle that pays for a hobby (plus more) is a precious luxury that I know I am very lucky to have gotten.

DeskJockey2028

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Re: 2029 FIRE Cohort
« Reply #109 on: August 07, 2018, 06:24:11 AM »
Hey all, as of 12:01am your local time, we're under 3800 days until 1/1/29. Now it seems long gone are the 4200 days posts. 3799 days to go!

clarkai

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Re: 2029 FIRE Cohort
« Reply #110 on: August 07, 2018, 12:31:14 PM »
I'm going to join you here. I want to be retired very early by the time I'm 40, but that's only 10 years away, which means I'd need to save 65% of my income. So I'm giving us a year of learning to go from ~10% saving per year to the full 65%, which I figure also gives us some leeway for unexpected costs that might pop up.

DeskJockey2028

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Re: 2029 FIRE Cohort
« Reply #111 on: August 07, 2018, 12:32:25 PM »
Welcome clarkai!

I'm going to join you here. I want to be retired very early by the time I'm 40, but that's only 10 years away, which means I'd need to save 65% of my income. So I'm giving us a year of learning to go from ~10% saving per year to the full 65%, which I figure also gives us some leeway for unexpected costs that might pop up.

DeskJockey2028

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Re: 2029 FIRE Cohort
« Reply #112 on: September 04, 2018, 08:27:58 AM »
Wow, here's September! Finally! It seems like August is just such a long month. Where I am, it's a long, hot, sticky month too.

On my end of things, the kids are back to school, the students are returning to Uni and everyone's back on the train in the morning.

About 118 days and it'll be 2019. That's the 10 year mark!

DeskJockey2028

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Re: 2029 FIRE Cohort
« Reply #113 on: September 05, 2018, 09:47:08 AM »
Coasting

I cribbed this from my journal but thought it'd be interesting to see other '29ers numbers.

Have you figured out your coast age? It's a neat little number that designates at what age you could retire if you put $0.00 into your funds from here on out, and assume a specific, average rate of return over the course of your investing life. The formula goes like this: "=LN((1+7%)^A*B/C)/ln((1+7%))" and I totally stole that from some reddit thread a while back.

A is my age. B is my goal invested dollars (I use current expenses*25). C is my investment portfolio value and 7% is the expected return of my portfolio. I've been tracking this once a month for over a year, making a few adjustments here and there. This is what it looks like for the past 11 months. It's the age at which I could coast into retirement followed by the date I tracked it.

67.79 as of 8/27/17
67.25 as of 9/26/17
66.33 as of 11/27/17
65.86 as of 12/21/17
65.14 as of 1/22/18
65.45 as of 4/5/18
64.70 as of 5/22/18
64.44 as of 6/27/18
64.87 as of 7/26/18

That slight bump at the end there is because I've aged another year.

I'd put about as much stock into this as I do into my other crystal ball type equations - but it's fun to track, and gives you a good idea of how your current money is working for you. Plus I'm still getting out almost 9 years earlier than my current coast age. The two should converge together by the time I'm ready to jump out of the old FIRE airplane.

SharkStomper

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Re: 2029 FIRE Cohort
« Reply #114 on: September 07, 2018, 06:41:04 AM »
Thanks for keeping this thread going and the formula.  I'm about to get on a plane, but I'll play with it when I get home.

DeskJockey2028

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Re: 2029 FIRE Cohort
« Reply #115 on: September 07, 2018, 08:25:38 AM »
My pleasure! Looking forward to seeing your coast age!

Thanks for keeping this thread going and the formula.  I'm about to get on a plane, but I'll play with it when I get home.

SharkStomper

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Re: 2029 FIRE Cohort
« Reply #116 on: September 08, 2018, 05:40:35 AM »
62.3 as of 9/8/18.

BuffaloStache

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Re: 2029 FIRE Cohort
« Reply #117 on: September 21, 2018, 04:02:34 PM »
My "stretch goal" is to be FIRE'd before 2029, but since my plan is to tack on a couple of OMY's (mostly to pay for kid college expenses and/or help out my parents), then this seems like a realistic cohort to join. I don't have a specific date yet, but count me in!

My coast age is 58.07 as of 9/21/2018.
« Last Edit: September 21, 2018, 04:04:42 PM by BuffaloStache »

DeskJockey2028

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Re: 2029 FIRE Cohort
« Reply #118 on: September 22, 2018, 05:53:36 AM »
Welcome! That's a nice coast age you got there, BuffaloStache!

My "stretch goal" is to be FIRE'd before 2029, but since my plan is to tack on a couple of OMY's (mostly to pay for kid college expenses and/or help out my parents), then this seems like a realistic cohort to join. I don't have a specific date yet, but count me in!

My coast age is 58.07 as of 9/21/2018.

mizzourah2006

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Re: 2029 FIRE Cohort
« Reply #119 on: September 24, 2018, 02:55:40 PM »
If I used a 7% CAGR my coast age would be 52 as of last month. Maybe I'm a pessimist, but I use 4-5% in most of my calculations and with 4% my coast age is 65.


DeskJockey2028

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Re: 2029 FIRE Cohort
« Reply #120 on: September 25, 2018, 08:09:42 AM »
I use 4% in my calculations too - just to figure out the coast number.

DeskJockey2028

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Re: 2029 FIRE Cohort
« Reply #121 on: October 10, 2018, 10:43:14 AM »
Hey! You! Did you know there are just 3,735 days left until 1/1/29? Remember back in March of '17 when we had 4,309 days left? Sure, 3,735 days is a lot of days, but it's a lot less than 4,309! 574 days to be exact.

So it's been 577 days since this Cohort started - and looking back it doesn't seem like that long. Now we're coasting in to fall and before we know it 2019 will happen and we'll all start to be able to say "In less than 10 years...."


PseudoStache

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Re: 2029 FIRE Cohort
« Reply #122 on: October 10, 2018, 01:13:39 PM »
Coasting

I cribbed this from my journal but thought it'd be interesting to see other '29ers numbers.

Have you figured out your coast age? It's a neat little number that designates at what age you could retire if you put $0.00 into your funds from here on out, and assume a specific, average rate of return over the course of your investing life. The formula goes like this: "=LN((1+7%)^A*B/C)/ln((1+7%))" and I totally stole that from some reddit thread a while back.

A is my age. B is my goal invested dollars (I use current expenses*25). C is my investment portfolio value and 7% is the expected return of my portfolio. I've been tracking this once a month for over a year, making a few adjustments here and there. This is what it looks like for the past 11 months. It's the age at which I could coast into retirement followed by the date I tracked it.

I love this idea/formula, but quick question on this - it doesn't seem like this takes inflation into account - or does it?

If you are using 25x your CURRENT expenses as your goal, to me you need to account for that what that goal actually looks like at your coast age, no?




DeskJockey2028

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Re: 2029 FIRE Cohort
« Reply #123 on: October 10, 2018, 01:15:38 PM »
According to the person I stole this from, it does adjust for inflation. I'm assuming it's the 7% that does it.

Coasting

I cribbed this from my journal but thought it'd be interesting to see other '29ers numbers.

Have you figured out your coast age? It's a neat little number that designates at what age you could retire if you put $0.00 into your funds from here on out, and assume a specific, average rate of return over the course of your investing life. The formula goes like this: "=LN((1+7%)^A*B/C)/ln((1+7%))" and I totally stole that from some reddit thread a while back.

A is my age. B is my goal invested dollars (I use current expenses*25). C is my investment portfolio value and 7% is the expected return of my portfolio. I've been tracking this once a month for over a year, making a few adjustments here and there. This is what it looks like for the past 11 months. It's the age at which I could coast into retirement followed by the date I tracked it.

I love this idea/formula, but quick question on this - it doesn't seem like this takes inflation into account - or does it?

If you are using 25x your CURRENT expenses as your goal, to me you need to account for that what that goal actually looks like at your coast age, no?

PseudoStache

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Re: 2029 FIRE Cohort
« Reply #124 on: October 10, 2018, 03:12:40 PM »
According to the person I stole this from, it does adjust for inflation. I'm assuming it's the 7% that does it.

I suck at algebra, but just using a simple compounding calculator, it's now pretty clear that it doesn't include inflation.

Take the inputs of
Age: 25
Target: $1,000,000
Current: $100,000

The output will be approximately the age of 59.

$1,000,000 34 years from now would probably be worth a third of what it means today.
If you "coasted" till 59, you would not be able to afford your inflation adjusted expenses.

I still think the equation is cool because it does let you know that, without any extra investment, you can hit a certain target value after so many years - but I don't think it's valuable (in its current form) from a "coast-to-retirement" perspective.



 

FamilyGuy

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Re: 2029 FIRE Cohort
« Reply #125 on: October 11, 2018, 09:04:00 PM »
This sounds like year for me:)

DeskJockey2028

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Re: 2029 FIRE Cohort
« Reply #126 on: October 12, 2018, 06:26:30 AM »
Welcome Family Guy!

This sounds like year for me:)

mizzourah2006

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Re: 2029 FIRE Cohort
« Reply #127 on: October 12, 2018, 06:29:49 AM »
According to the person I stole this from, it does adjust for inflation. I'm assuming it's the 7% that does it.

I suck at algebra, but just using a simple compounding calculator, it's now pretty clear that it doesn't include inflation.

Take the inputs of
Age: 25
Target: $1,000,000
Current: $100,000

The output will be approximately the age of 59.

$1,000,000 34 years from now would probably be worth a third of what it means today.
If you "coasted" till 59, you would not be able to afford your inflation adjusted expenses.

I still think the equation is cool because it does let you know that, without any extra investment, you can hit a certain target value after so many years - but I don't think it's valuable (in its current form) from a "coast-to-retirement" perspective.

You can adjust the return to account for inflation. So, if I use a 7% return and expect inflation to be 2.5% if I use 4.5% as my CAGR Iím accounting for the impact of inflation and it becomes a real return estimate.

DeskJockey2028

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Re: 2029 FIRE Cohort
« Reply #128 on: October 12, 2018, 06:30:54 AM »
A big thank you to everyone here who's better at math than I am. :)

According to the person I stole this from, it does adjust for inflation. I'm assuming it's the 7% that does it.

I suck at algebra, but just using a simple compounding calculator, it's now pretty clear that it doesn't include inflation.

Take the inputs of
Age: 25
Target: $1,000,000
Current: $100,000

The output will be approximately the age of 59.

$1,000,000 34 years from now would probably be worth a third of what it means today.
If you "coasted" till 59, you would not be able to afford your inflation adjusted expenses.

I still think the equation is cool because it does let you know that, without any extra investment, you can hit a certain target value after so many years - but I don't think it's valuable (in its current form) from a "coast-to-retirement" perspective.

You can adjust the return to account for inflation. So, if I use a 7% return and expect inflation to be 2.5% if I use 4.5% as my CAGR Iím accounting for the impact of inflation and it becomes a real return estimate.

BuffaloStache

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Re: 2029 FIRE Cohort
« Reply #129 on: October 12, 2018, 04:21:19 PM »
You can adjust the return to account for inflation. So, if I use a 7% return and expect inflation to be 2.5% if I use 4.5% as my CAGR Iím accounting for the impact of inflation and it becomes a real return estimate.

This.

DeskJockey2028

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Re: 2029 FIRE Cohort
« Reply #130 on: October 15, 2018, 08:21:54 AM »
You can adjust the return to account for inflation. So, if I use a 7% return and expect inflation to be 2.5% if I use 4.5% as my CAGR Iím accounting for the impact of inflation and it becomes a real return estimate.

This.

That.

DeskJockey2028

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Re: 2029 FIRE Cohort
« Reply #131 on: November 01, 2018, 12:44:12 PM »
Happy Autumn everyone! Hope you had a great summer - on to winter, the holidays and then 2019!

DeskJockey2028

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Re: 2029 FIRE Cohort
« Reply #132 on: November 19, 2018, 11:24:29 AM »
3695 for those keeping score.

BuffaloStache

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Re: 2029 FIRE Cohort
« Reply #133 on: November 22, 2018, 01:38:41 PM »
Happy Thanksgiving for all of us in the United States and happy belated Thanksgiving for all the Canadians!

3695 for those keeping score.
Also, remember that this is total days. The number of work-days is a lot less than that (somewhere in the high 2000's).
« Last Edit: November 22, 2018, 01:52:47 PM by BuffaloStache »

DeskJockey2028

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Re: 2029 FIRE Cohort
« Reply #134 on: November 27, 2018, 07:53:31 AM »
We're just 34 days away from 2019 and the 10 year mark. Over the next decade (and 34 days) many of us will be able to say 'In less than 10 years....'

 

friedmmj

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Re: 2029 FIRE Cohort
« Reply #135 on: November 27, 2018, 06:41:52 PM »
We're just 34 days away from 2019 and the 10 year mark. Over the next decade (and 34 days) many of us will be able to say 'In less than 10 years....'

Hi there DJ.  What kind of work do you do?  Are you planning to stay with your current employer for the 10 years?

DeskJockey2028

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Re: 2029 FIRE Cohort
« Reply #136 on: November 27, 2018, 06:50:15 PM »
I'm in IT for a largish college. And yes, I plan on staying there as long as they'll let me until the day I'm ready to retire. The benefits are just to damned good for me to pass up. I've looked other places and could probably find a place with better salary. But they never match the healthcare (even post-retirement), days off, contribution to my 403(b), etc.

We're just 34 days away from 2019 and the 10 year mark. Over the next decade (and 34 days) many of us will be able to say 'In less than 10 years....'

Hi there DJ.  What kind of work do you do?  Are you planning to stay with your current employer for the 10 years?

DeskJockey2028

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Re: 2029 FIRE Cohort
« Reply #137 on: December 19, 2018, 06:19:36 AM »
Welcome to 15% of the way to 1/1/29! Hope everyone had a decent year and that 2019 brings more good things and more retirement funds!  In 215 days or so, that is, next July, we'll be 1/5th of the way there! We're currently 3,665 days away from 1/1/29. If anyone's interested, we're also 646 days from the day I started this thread!

And just like that, we're in double digits. Happy 10% day! 1/10th of the way to 2029!

Hey all! Tomorrow, Saturday the 14th, is 5% day! Look at that, we've already more than doubled our previous 2% milestone. :) Hope to see you all again on May 18th, 2018 for 10% day!

Happy 2% day!

mizzourah2006

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Re: 2029 FIRE Cohort
« Reply #138 on: December 19, 2018, 08:43:36 AM »
Just finished up my expenses for 2018 (including rest of the year budgeted money) and it's looking like we are going to come in at just at about $61.5k.

Major categories:

Daycare: 25.6%
PITI: 22.5%
Premiums and Health Expenses: 7.6%
Groceries: 7%
Car Related (insurance, gas, oil changes, etc.): 4.5%
Utilities: 4.2%
Cable/Internet: 2.5%
Eating Out: 1.7%
Cell Service: 1%

Our goal investment portfolio is : 1.5 million, as of November 2018 we are 31% of the way there.

Keep pushing everybody!

HeadedWest2029

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Re: 2029 FIRE Cohort
« Reply #139 on: December 19, 2018, 09:03:34 AM »
Love the updates! Keep hustlin' everyone and enjoy the climb

DeskJockey2028

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Re: 2029 FIRE Cohort
« Reply #140 on: January 01, 2019, 09:24:46 AM »
It's 2019! We're now officially into the Under a Decade territory for this cohort.

clarkai

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Re: 2029 FIRE Cohort
« Reply #141 on: January 01, 2019, 09:41:02 AM »
Anybody else thinking of a career change? Right now I'm a teacher, and I'm not sure I want to keep at it for another 10 years.

PencilThinMust

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Re: 2029 FIRE Cohort
« Reply #142 on: January 01, 2019, 01:06:20 PM »
AHHH.....

June 2029 = scheduled FIRE DATE!!

-Wife and I are teachers in PA
-Two 7 year olds
-15 year mortgage to be finished in 2028
-Two Pensions
-Maxing Roth IRA's (11k)
-Maxing 403b (36K)


BuffaloStache

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Re: 2029 FIRE Cohort
« Reply #143 on: January 01, 2019, 08:12:19 PM »
Anybody else thinking of a career change? Right now I'm a teacher, and I'm not sure I want to keep at it for another 10 years.

I haven't made a full career change, but have switched companies and pivoted to a different part of my field recently. Do you have a pension or any yet-to-be-vested benefit that is keeping you at the current job?

Also, I'm not sure where you're at in life but a friend of mine was a teacher and spent 2 years teaching at an 'American school' in a foreign country. She got to travel a lot and see the world, her salary was much higher for the 2 years (and she was careful to not come back to the US enough to need to pay taxes on that income), and it looked great on her resume for when she came back to the US. Just something to think about...

SharkStomper

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Re: 2029 FIRE Cohort
« Reply #144 on: January 03, 2019, 10:46:51 AM »
It's 2019! We're now officially into the Under a Decade territory for this cohort.

We have many more years like 2018 and I'll have to bump to a later year.  LOL  I got a 4% raise so I just bumped my work 401k contributions by the same.

DeskJockey2028

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Re: 2029 FIRE Cohort
« Reply #145 on: January 03, 2019, 11:00:05 AM »
I can't say I'm pulling for a recession, but I'd love to see stocks stay down for a year or two so I can accumulate more! Just not looking forward to jobs being lost, etc.

It's 2019! We're now officially into the Under a Decade territory for this cohort.

We have many more years like 2018 and I'll have to bump to a later year.  LOL  I got a 4% raise so I just bumped my work 401k contributions by the same.

SharkStomper

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Re: 2029 FIRE Cohort
« Reply #146 on: January 04, 2019, 02:39:25 PM »
I can't say I'm pulling for a recession, but I'd love to see stocks stay down for a year or two so I can accumulate more! Just not looking forward to jobs being lost, etc.

Yeah, I'd benefit from that as well.  It's just painful to watch and have to correct my spreadsheet numbers down.

BuffaloStache

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Re: 2029 FIRE Cohort
« Reply #147 on: January 04, 2019, 04:56:55 PM »
I can't say I'm pulling for a recession, but I'd love to see stocks stay down for a year or two so I can accumulate more! Just not looking forward to jobs being lost, etc.

Yeah, I'd benefit from that as well.  It's just painful to watch and have to correct my spreadsheet numbers down.

Agree with all of this. A recession right (lasting 1-2 years, followed by another 2-3 year recovery) now would probably set us up well for FIRE in 2029. But it is painful to see all the numbers on a negative trend...

freedomfightergal

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Re: 2029 FIRE Cohort
« Reply #148 on: January 08, 2019, 06:08:47 PM »
Hopeful for 2029 or earlier!  How are you all determining your target amount?   I've roughly determined a minimum of $900k based on $36k per year x 25.  This is a minimum for survival kind of amount.

I'm 47, starting late after a financial catastrophe of a divorce. No 401k, (ex stole it), no social security, (haven't worked for long enough as not a citizen & was a SAHP).  So I have to play catch up.

I have panic retirement savings anxiety!!  Hoping this site will help me stay focused and on course.


SharkStomper

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Re: 2029 FIRE Cohort
« Reply #149 on: January 09, 2019, 08:13:24 AM »
Welcome to the 29'ers club.  My hope is we'll have north of 800k in retirement and taxable accounts, the wife (who's older than me) will be eligible for Medicare and SS and we'll have our rental property paid off.