Author Topic: 2029 FIRE Cohort  (Read 62288 times)

caracarn

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Re: 2029 FIRE Cohort
« Reply #400 on: October 19, 2020, 12:06:29 PM »
Yes welcome Chicken.  Not only is it possible, it's highly likely with some simple sticktuitivness and patience.  I had my net worth increase more in the last year than I had saved in total 5 years ago.  This does work.

BuffaloStache

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Re: 2029 FIRE Cohort
« Reply #401 on: October 19, 2020, 01:01:46 PM »
I've been running a bunch of sims lately and the numbers they return say I should be able to throw my lot in with the '29ers so here goes nothing. Tough to say how well it will work out without a crystal ball, though.

I've only known about the FIRE movement and MMM for about 3 years. I've always had a fair savings rate by normal society's standards but I never really looked at how to retire early until I found this place by accident when researching what to do with an old 401k account. What a surprise it was to run some numbers and see that retiring early was actually possible.

Echoing others to say welcome, Chicken! I love to hear of a fellow person that was blindly keeping a high savings rate, and then accidentally stumbled across the idea of FI. Despite a high SR I wasn't far along the path before discovering what FIRE was (mostly due to some college loans that I was crushing), but it's a great feeling to learn about what those sacrifices can unlock.

Stoked we're sub-3,000 days! And in reality, probably closer to 2,100 working days remaining!

SotI

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Re: 2029 FIRE Cohort
« Reply #402 on: October 19, 2020, 01:08:45 PM »
I still have 2/3 of my target NW ahead of me.
May the economy and stock markets be with us.
I feel that the pandemic is sort of shaking things up, not sure where the dice will fall, tbh.

Just ploughing ahead as usual, I guess.

DeskJockey2028

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Re: 2029 FIRE Cohort
« Reply #403 on: October 20, 2020, 07:12:49 AM »

Just ploughing ahead as usual, I guess.

That right there is, I feel, the greatest and most powerful principle of FIRE. Once you have things sorted out and headed in the right direction, just plough ahead as usual. And do that for 10-20 years (that's the harder part, the longevity of it). It's not glamorous, it's not action packed, it's not exciting. But damn, it works.

FI4good

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Re: 2029 FIRE Cohort
« Reply #404 on: November 03, 2020, 11:51:34 AM »
Keep on keeping on all ..

I havenít calculated my savings rate in a few years now, itís ok .

Itís roughly 40-60%

Iíve recently started trying to save a bit in non-pension accounts as there are age limits in the uk & no workarounds that are not legally bending the intent of the law to get your pension money early.

Also a cash buffer helps you stay comfortable and able to pick up bargains if and when others are trying to sell illiquid assets, art works, cars, jewellery, watches. ďThere is tide & time in the affairs of menĒ and here the tide is going out & we get to see whos out of their depth ..

When i first started the FI journey i was getting the calculator out every hour or two , i think iíve accepted it, obviously seeing your portfolio expand helps .

The glide path with no extra payments is there, achievable in 8-10 years time depending on the markets , the 200% matched company pension payments are now only adding to that, the company share scheme with 33% matching shares are all maxed out !

I donít feel jealous of people with millions, i only have hundreds of thousands & itís enough for me here , the money game has been won long term insofar as i define it . The extra is just layer upon layer of security & peace of mind which is nice.

Maybe i could push myself to go earlier but my life, my home , my partner , my job , my cat & my garden are just fine.

Stay the course team 29í iím sorry i donít post more often but what more would you know of me ?

There will come a day when you donít need to know what your worth other than ďenoughĒ.

I hope you get there soon if youíre not there already .

Bestwishes .


SotI

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Re: 2029 FIRE Cohort
« Reply #405 on: November 04, 2020, 04:37:08 AM »
Keep on keeping on all ..
....
There will come a day when you donít need to know what your worth other than ďenoughĒ.

I hope you get there soon if youíre not there already .

Bestwishes .
Thank you, FI4good, I hope I will get to that point in due course.
Life has been good for me, so far, so I should just keep going with the flow.

talltexan

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Re: 2029 FIRE Cohort
« Reply #406 on: November 09, 2020, 09:36:11 AM »
I was scheduled to rebalance on Saturday, so waited until today. Market suddenly feeling like it ran ahead of me!

BuffaloStache

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Re: 2029 FIRE Cohort
« Reply #407 on: November 24, 2020, 08:58:26 PM »
Rounding the corner and on to the final stretch of 2020! Honestly can't wait to get this wretched year behind me, regardless of how (shockingly, inexplicably) good it has been financially/towards my own FI journey.

For my fellow '29ers here in the US, have a safe and Happy Thanksgiving! May your zoom chats, bellies, and investment gains be plentiful as we kick off the holiday season.

DeskJockey2028

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Re: 2029 FIRE Cohort
« Reply #408 on: November 25, 2020, 10:32:16 AM »
Thanks BuffaloStache! The holidays are here! Let's get through this set as safely as possible so that next year we can get back to seeing those we want to see, and enjoying the activities we're accustomed to enjoying! 

Rounding the corner and on to the final stretch of 2020! Honestly can't wait to get this wretched year behind me, regardless of how (shockingly, inexplicably) good it has been financially/towards my own FI journey.

For my fellow '29ers here in the US, have a safe and Happy Thanksgiving! May your zoom chats, bellies, and investment gains be plentiful as we kick off the holiday season.

bbates728

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Re: 2029 FIRE Cohort
« Reply #409 on: November 25, 2020, 10:35:36 AM »
I love how far we are away from 2029 yet how this cohort is one of the most active. I think I may be graduating down to 2028 or even 2027 but feel a kinship with this cohort as my original.

Have a happy holiday season, all. Even if you are out of the US I hope you can get your hands on some turkey and gorge yourself as we do :)

There is certainly a lot to be thankful for, including financial security. I hope everyone stays healthy and a speedy recovery for anyone who isn't.

henramdrea

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Re: 2029 FIRE Cohort
« Reply #410 on: November 29, 2020, 12:17:41 PM »
I love how far we are away from 2029 yet how this cohort is one of the most active. I think I may be graduating down to 2028 or even 2027 but feel a kinship with this cohort as my original.

Have a happy holiday season, all. Even if you are out of the US I hope you can get your hands on some turkey and gorge yourself as we do :)

There is certainly a lot to be thankful for, including financial security. I hope everyone stays healthy and a speedy recovery for anyone who isn't.

Actually, quite good news!  I think anyone would be excited about whacking 1-2 years from the timeline.  Being dependant on at least partial SS, I'm pretty well entrenched in the 29'er fold.

BuffaloStache

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Re: 2029 FIRE Cohort
« Reply #411 on: November 30, 2020, 07:30:53 AM »
There is a pretty good chance I'll be FI before 2029, but I have a feeling that I won't pull the plug on RE until '29; or I may even choose to just downshift then. Having kids, a highly variable healthcare outlook here in the US, and a long RE ahead of me (hopefully 40+ years of blissful 'retirement') is definitely giving me motivation to tack on a couple of "one more year(s)" (OMY's). It's kind of crazy that I feel the pull for OMYs already when I'm still so far away from FI.

totally agree with @bbates728 , I love how active this cohort is and I'm thankful for the great discussion and support. Happy Holiday season everyone!

caracarn

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Re: 2029 FIRE Cohort
« Reply #412 on: November 30, 2020, 12:51:37 PM »
Yes, do enjoy that there are some regular posts here.  I may have pulled time frame up 4 years at this point but like you may stick it out until 2029 anyway.  As it sits 2025 would still have at least one kid not through college yet.  Given our plan involves downsizing from our 4 BR home to a smaller house (likely 2BR) and likely in another state we do not want to make it seem like we are just pulling the rip cord and telling kids it better work out as we have no space for you much ahead of a "normal" time frame.  Then again we've already semi-joked with those that remain that we are perhaps going to do that anyway.  We'll see.

I am not in anyway longing for OMY.  I currently cannot wait to be done.  9 years seems like an eternity. 

DeskJockey2028

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Re: 2029 FIRE Cohort
« Reply #413 on: November 30, 2020, 04:29:30 PM »
Aye, I'm still looking at '28 as my go year. Possibly '27 but there'd have to be, well, what's been happening to the market last week for the next, oh, 7 years or so. I do like our little corner of the MMM forums though! It's great to hear from folks and commiserate with those who are waiting. I'm sure we'll pick up more members as we get closer to 2029.

talltexan

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Re: 2029 FIRE Cohort
« Reply #414 on: December 01, 2020, 10:42:17 AM »
It will really depend on the evolution of health care and higher education for us. My daughter will turn 17 in 2029, and my son will turn 15 at the end of that year.

HeadedWest2029

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Re: 2029 FIRE Cohort
« Reply #415 on: December 29, 2020, 07:50:30 AM »
Agree with others that this cohort is fun to be a part of, even if my number keeps moving on up!  I got a little antsy and calculated my yearly savings rate because it's probably the metric I care about the most (well ok, net worth is fun to follow too).  With 2 days left, my savings rate is right at 49%!  Feel very lucky to stay employed the whole time.  Happy holidays 2029ers.

Would love to hear others in this cohort share their year end numbers
« Last Edit: December 29, 2020, 11:11:46 AM by HeadedWest2029 »

caracarn

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Re: 2029 FIRE Cohort
« Reply #416 on: December 29, 2020, 11:23:16 AM »
Very rough calculation is that I was about 35%, but that is against gross numbers so before taxes etc.   So really is higher. 

With regards to the earlier exit possibility, the calculator I use does not anticipate the market doing anything near what it is now.  I expect 6% in my analysis.  And it just plans for my basic contributions not for them to continue as they were this year which was an INSANE clip for us.  This year my extra savings was more than I made in total each year for the first decade I worked.  Those kinds of facts open ones eyes to how much of an outlier this year was.

DeskJockey2028

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Re: 2029 FIRE Cohort
« Reply #417 on: December 29, 2020, 11:45:48 AM »
We're at about 35% savings rate as well. Still pretty much on track if slightly higher than what I expected. My projected figures for money in our retirement accounts is off by a good bit though. I'm about a year ahead of myself!

Our net worth has increased too, which surprises me. It's up about 5% even though we added about 65k to our mortgage for our addition and new kitchen. We did pay off the car finally which is nice. And thanks to the interest rate on our new mortgage, we'll be paid off in about 12.5 years from now (old mortgage would have been about 16 years away). We'll probably drop another year or two off as time goes by too.

I'm still on track for 2028, with 2027 being a potential.

caracarn

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Re: 2029 FIRE Cohort
« Reply #418 on: December 29, 2020, 11:57:41 AM »
I love the fact that I have access to Voya calculator from a previous employer.  It does all the work for you, including giving you the age you can retire (was 55 last week).  I had run the calculator for approval on this board from our math whizzes and they said it appears to be accurate in its algorithm, so saves me a lot of time.    When I joined this cohort it was telling me 59 (which is 2029), but since then I have shaved 4 years off and will see how it goes.  Not sure if you can get to this calculator without having a 401(k) with them as I have not found another way, but it is pretty nice and now that I know it is accurate to FIRE standards it is my gold standard.  If I worked to retirement age I'd be able to spend a ridiculous $119K a year. 

SotI

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Re: 2029 FIRE Cohort
« Reply #419 on: December 29, 2020, 04:15:02 PM »
Still on track for FI and retirement in 2029.
Still hoping that I may manage faster, but that would require my employer to offer a suitable deal.
Not yet happening, though (they are offering some packages atm, but none that fit my terms).

BuffaloStache

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Re: 2029 FIRE Cohort
« Reply #420 on: December 30, 2020, 01:54:43 PM »
I'll post a more complete year-end reflection in my log, but my Savings Rate for 2020 was right around 37%. It surely was a wild ride!

Happy New Year's to all my fellow '29ers!

FI4good

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Re: 2029 FIRE Cohort
« Reply #421 on: December 31, 2020, 09:55:40 AM »
Hey all ,
Happy new year.

Over the last 12 months my investments made me more than i saved.

In my active contribution pension from the start of year i saved roughly 20% of my starting ballance the money ďsavedĒ 24%
« Last Edit: December 31, 2020, 10:11:39 AM by FI4good »

henramdrea

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Re: 2029 FIRE Cohort
« Reply #422 on: January 01, 2021, 04:02:49 PM »
Hey that's fantastic FI4good!  That's where you want to be:  your money working for you instead of you working for the money!

Happy New Year!  Only 9 more of these left until our time comes!

Weisass

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Re: 2029 FIRE Cohort
« Reply #423 on: January 01, 2021, 09:09:55 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.

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


Fun. According to my math, my FI Coast age is 50 right now.

DeskJockey2028

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Re: 2029 FIRE Cohort
« Reply #424 on: January 04, 2021, 07:41:09 AM »
For the first time ever, I'm finally into my 50's with my coast age! 59.72 years old is my current coast age.

As an aside, when I started this cohort 2029 just seemed so very far away at 12 years distant. Today we're (slightly) less than 8 years from 2029! Still far away but not 'over a decade to go' far away.
« Last Edit: January 04, 2021, 07:52:19 AM by DeskJockey2028 »

DeskJockey2028

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Re: 2029 FIRE Cohort
« Reply #425 on: January 08, 2021, 07:07:45 AM »
Just wanted to point out that 2029 is less than 8 years away!

BuffaloStache

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Re: 2029 FIRE Cohort
« Reply #426 on: January 08, 2021, 07:30:28 AM »
According to my latest round of calcs, my current Coast Age is 50.4. It's the lowest it's ever been and I'm really excited for it to dip below 50!

Stoked that 2029 is less than 8 years away!