Author Topic: 2030 FIRE Cohort  (Read 37676 times)

rebel_quietude

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Re: 2030 FIRE Cohort
« Reply #250 on: December 03, 2017, 08:58:10 AM »
Hey everybody!

It sounds like folks are rocking it; it's great to see this thread continue to expand. I'll pile on to haypug's tracking methodology (awesome going, btw!)

2011 (first year tracked) - stache at 3.7x
2012 - stache at 4.6x
2013 - stache at 6.8x
2014 - stache at 7.9x
2015 - stache at 8.2x
2016 - stache at 10.1x
2017 - stache at 13.2x (current, with 30k estimated in the house I'm selling next year, and 560k stache)

It's amazing how quickly it goes, after that horrible grind of the first 100k (before compound interest starts really making a difference). This year's crazy market also helped.

I'm currently on track to hit FI in 2023, but since that's not tied to my expected RE year I'm sticking to the 2030 cohort. I don't have any kids yet and that's on the life list, so I'll be paying for college well into retirement.

Happy December, guys, here's to another year working toward our goals!

BrokenBiscuits

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Re: 2030 FIRE Cohort
« Reply #251 on: December 16, 2017, 06:05:44 AM »
Hello all,

Iím just checking in with my yearly update as yesterday was the final payday of the year. The plan this year was to grow networth by 20k up to £162k, Iíve exceeded targets and Iím clocking in my final score for 2017 at £165,036!   (Uk based, so in gbp)

I started recording networth sometime in 2013 (68k nw) and although Iíve always been a good saver itís not really  until 2014/2015 I started investing. Looking at the numbers Iím close to adding 100k to my nw over the last 4 years. So 168k will be a nice milestone to look back on, representing 100k gained since I started recording. ďMoney comes to moneyĒ so it will be interesting to see how long the next 100k takes... I would bet under 4 (and a bit) years though.

Dec 2013 NW 68k
Dec 2014 NW 82.5k
Dec 2015 NW 110k
Dec 2016 NW 142k
Dec 2017 NW 165k

So 23k gained this year and thatís with a decent holiday and a few overindulgences compared to my much more focused 2016. Of the 23k about half is from return on investments... when you look at uk minimum wage at £7.50 an hour? You are looking at £13650 a year (based on a 35 hour week) and although Iím not quite there yet, i almost earned minimum wage from my investments this year!! I feel like I need to say that again.. I nearly earned a whole extra wage this year! Itís like Iíve created a clone and sent him out to work. If I can get this clone earning minimum wage year after year (and maybe a little more again?) then the original me will be able put his feet up, turn off the alarm and stop working the 9-5. I have chosen to live on the equivalent of minimum wage over a year before and saved the rest in some years, Fair play to those who do get by on minimum wage as a necessity and not a choice, but I think I would want a little more than that if that is going to be my lifestyle forever. So 2 clones should do the trick just for the added security for when I pack in paid work. 



So looking at 2018, using my usual calculations, I think 186k should be the target but Iíve overhit every year so far so letís do a stretching target of 190k.

Hope everyone else can tally up this year and call it a success, whether thatís financially or just through knowledge gained to make 2018 something even more special.   Have a great Christmas everyone.



startingsmall

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Re: 2030 FIRE Cohort
« Reply #252 on: December 16, 2017, 06:14:04 PM »
I think this group fits me, too.... although we haven't yet decided whether to plow ahead with FT work or whether to do a more gradual downshift. Still, 2030 would be in the right ballpark if we continue FT work, so I'll join this group for now unless (until?) we change our plans.

I'm 38 and my husband is 33. We have a 4 year old daughter and are currently trying for #2.

I've been working for 10 years (late start due to college + professional degree), he's been working for 3 years, and we only discovered MMM about 2 years ago, so we're kind of late to the party.... but I think we're doing an okay-ish job of making up for lost time. I'd like to be a bit more aggressive with saving, but we've found a compromise between my frugality and my husband's more-spendy ways and I'm happy with the progress we're making.

2016 income: $125k in combined FT salaries, plus $22k in freelance income for me.


Net worth:
Dec 2015 - $157k (including cash, HSA, retirement accounts, and $24k home equity)
Dec 2016 - $240kish, depending on exact year-end numbers ($50k is home equity - we moved and made a larger downpayment on this house)

Updating for 2017.....

Income: combined $120k in salaries, plus $15k freelance income for me
December 2017 net worth - $330k

Engineer93

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Re: 2030 FIRE Cohort
« Reply #253 on: December 17, 2017, 06:37:22 AM »
Iíll join this group.  My goal is to retire by 40 which will be in 2033.

Aelias

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Re: 2030 FIRE Cohort
« Reply #254 on: December 19, 2017, 10:25:06 AM »
Hi folks - checking in after being quiet for a while.  Our retirement assets (401(k) + taxable) are now at around 950K--thanks market rally! 

My husband has been coming around to this slowly, largely because he's pessimistic by nature and in the broader culture, FIRE still seems crazy.  But looking at the math, even he's convinced that even with our exorbitantly high FIRE number ($2.5-$3M), even by really conservative estimates, we should be done by 2027.  Maybe as early 2024. And that's without ditching our remaining face-punchy habits!

His reaction surprised me--he was sort of pissed! He felt like it shouldn't be so easy to retire that early.  Like, who are we to just retire to a life of leisure when billions of people will struggle every day of their lives just to get by?  Especially when, thanks to lifestyle friendly white-collar jobs, we could easily work into our 60s or 70s with relatively few ill effects?  And, on top of that--we like our jobs!  We're doing interesting and worthwhile things!  Why are we quitting again? 

Another piece of this is that we have small kids, and while the idea of picking up and traveling the world has some appeal, we still want them in normal school with a normal, stable childhood.  So, that part of our retirement will have to wait, although I'm envisioning some serious summer adventures with them when they're teenagers.  And if we're not going to be able to have that footloose retirement lifestyle, maybe a few more years of work isn't the worst thing.

And then there's the inevitable recession--because this crazy economy is not going to last forever.  But no way to know when it's going to hit--1 year? 3 years? 7 years?  Would like to NOT retire in a down market if we can avoid it, thank you very much.

So, we're well into the "This is happening. So what now?" phase of FIRE planning.  It's kind of overwhelming--this idea of virtually unlimited options.  OurNextLife.org does a great job talking about the emotions and psychology of early retirement.  Really excellent blog, BTW!

FireHiker

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Re: 2030 FIRE Cohort
« Reply #255 on: December 19, 2017, 02:02:18 PM »
Hi folks - checking in after being quiet for a while.  Our retirement assets (401(k) + taxable) are now at around 950K--thanks market rally! 

My husband has been coming around to this slowly, largely because he's pessimistic by nature and in the broader culture, FIRE still seems crazy.  But looking at the math, even he's convinced that even with our exorbitantly high FIRE number ($2.5-$3M), even by really conservative estimates, we should be done by 2027.  Maybe as early 2024. And that's without ditching our remaining face-punchy habits!

His reaction surprised me--he was sort of pissed! He felt like it shouldn't be so easy to retire that early.  Like, who are we to just retire to a life of leisure when billions of people will struggle every day of their lives just to get by?  Especially when, thanks to lifestyle friendly white-collar jobs, we could easily work into our 60s or 70s with relatively few ill effects?  And, on top of that--we like our jobs!  We're doing interesting and worthwhile things!  Why are we quitting again? 

Another piece of this is that we have small kids, and while the idea of picking up and traveling the world has some appeal, we still want them in normal school with a normal, stable childhood.  So, that part of our retirement will have to wait, although I'm envisioning some serious summer adventures with them when they're teenagers.  And if we're not going to be able to have that footloose retirement lifestyle, maybe a few more years of work isn't the worst thing.

And then there's the inevitable recession--because this crazy economy is not going to last forever.  But no way to know when it's going to hit--1 year? 3 years? 7 years?  Would like to NOT retire in a down market if we can avoid it, thank you very much.

So, we're well into the "This is happening. So what now?" phase of FIRE planning.  It's kind of overwhelming--this idea of virtually unlimited options.  OurNextLife.org does a great job talking about the emotions and psychology of early retirement.  Really excellent blog, BTW!

It sounds like we are almost the same person! Small kids, just a bit behind where you are (832k as of last November outside of our home equity which is pretty substantial but we don't include in our FIRE calcs), and high FIRE target number (also 2.5M-3M) because of very financially conservative husband. We also are considering 2027 or even 2024 depending on a couple unknowns, and we still have very face-punchy habits. AND we want to do crazy travel with the kids, especially in summers as they age, but are pretty sure we want to stick with the "normal/stable" school/childhood. Whew. I am so happy to actually have a peer to whom I can relate. :)

Aelias

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Re: 2030 FIRE Cohort
« Reply #256 on: December 20, 2017, 01:24:05 PM »

It sounds like we are almost the same person! Small kids, just a bit behind where you are (832k as of last November outside of our home equity which is pretty substantial but we don't include in our FIRE calcs), and high FIRE target number (also 2.5M-3M) because of very financially conservative husband. We also are considering 2027 or even 2024 depending on a couple unknowns, and we still have very face-punchy habits. AND we want to do crazy travel with the kids, especially in summers as they age, but are pretty sure we want to stick with the "normal/stable" school/childhood. Whew. I am so happy to actually have a peer to whom I can relate. :)

Lol.  Glad it's not just me, FireHiker! 

I went to a really nice retirement lunch today for a colleague who's retiring at 63 (and everyone was saying, "but he's really not that old!"  I bit my tongue.).  He worked his way up through the company over decades, and you could tell he was so proud of what he'd accomplished.  Listening to him talk about all the relationships he'd miss and how he'd helped people come up through the company over the years really brought up a lot of feelings for me. Like, "OMG, maybe I DON'T want to retire early?" 

What I've found really valuable about pushing for FIRE is it is forcing me to THINK about what I want to be doing rather than just autopiloting until I'm 65.  Even if I ultimately choose to work until I'm ::gasp:: 50 or more, having made that conscious choice for reasons other than money will be worthwhile.

Bumbles8

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Re: 2030 FIRE Cohort
« Reply #257 on: December 20, 2017, 05:55:25 PM »
Interesting to see all the different people in this group.  I'm in a much different situation that the last few posts

I'll end this year at right under 60k net worth.  If a lot goes right, I could add 40k in 2018 and get to six figures right before the year ends.

Still contemplating on my FIRE number, but it probably won't matter because I'll quit before I ever reach that number and take a year off.  And that will really mess up my projections

If I could manage to work straight though, and follow the path, I could see beating 2030.  But 2030 still seems like a really nice number

FirePita

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Re: 2030 FIRE Cohort
« Reply #258 on: December 27, 2017, 08:25:53 PM »
Posting to follow. Looks like people are doing great so I'm excited to join this lovely cohort to feed off everyone's energy :)

I discovered Bogleheads and MMM earlier this year and immediately started making serious changes to prioritize what I truly value in life. It's been an enlightening journey so far and I look forward to the rest of the journey.

We're at 5x today and aiming for 30x by 2030. Has a nice ring to it ;)

Nate R

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Re: 2030 FIRE Cohort
« Reply #259 on: December 31, 2017, 09:01:02 PM »
Just updating on my progress.

I've been convinced to be a bit more conservative by my reading of Big ERN's blog.

So, really aiming for 28.5X around 2030, and will have some other small income as well to hit that #. (And some to pay off my house, too.)

Stache is at 4.6x today, so probably about right on track. :-)

« Last Edit: December 31, 2017, 09:04:11 PM by Nate R »

haypug16

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Re: 2030 FIRE Cohort
« Reply #260 on: January 01, 2018, 08:35:59 AM »
Happy New Year!!! One year closer to FIRE! :P

Finished 2017 ahead of my goal so in good shape for 2018;

X= Yearly Expenses
2017 - Stache at 1x   $25,000 
2018 - Stache at 2x   $50,000 - current balance $29,448.59

Will increase my 401K to 14% this month with a year end goal of maxing out at 25%.

dreadmoose

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Re: 2030 FIRE Cohort
« Reply #261 on: January 02, 2018, 01:01:51 PM »
Count me in.

It's a long goal and I've barely started but I hope to FIRE by 2030.

I currently have a 59% savings rate.

I count my NW as 8K only (Investments - Debts ignoring mortgage)
Savings per month equate to $6.5K

(current plans don't sell the condo to retire, housing stays flat, depreciating assets aren't really assets unless I sell and downsize)

I sure came a long way this year, thanks MMM community! I won't be changing FIRE Cohorts as there are still to many variables that are up in the air (consulting job security, etc) but I shattered my 6.5K/month estimate and saved $105K this year (not counting market returns). My (hopefully conservative) numbers are below. Assuming 9% return before inflation and 1% rate increase. This also ignores my wife who we are just setting up with her own savings right now (graduated this year). So kids and her willingness to save will drastically change my plan over the coming few years.

2017-1.8x stacheDONE
2018-3.1x stache
2019-4.6x stache
2020-6.1x stache
2025-16.6x stache
2030-32.5x stache
Just starting on my FIRE journey, hopefully posting here creates accountability and eventually lowers my very anti-mustachian life habits.

BeautifulDay

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Re: 2030 FIRE Cohort
« Reply #262 on: January 02, 2018, 02:42:55 PM »
Based on Jan numbers
2017 - Stache at 1x 1.9 - But we bought a house in 2017 with those expenses (closing/down pmt/ moving) removed we were at 1.26
2018 - Stache at 2x 2.17
2019 - Stache at 3x
2020 - Stache at 4.5x
2021 - Stache at 6x
2022 - Stache at 8x
2023 - Stache at 10x
2024 - Stache at 12x
2025 - Stache at 14x
2026 - Stache at 16x
2027 - Stache at 18x
2028 - Stache at 20x
2029 - Stache at 22x
2030 - Stache at 25x

wbarnett

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Re: 2030 FIRE Cohort
« Reply #263 on: January 02, 2018, 03:16:35 PM »
First post! Just discovered this world in September 2017. It feels weird to plan for something 12-13 years away, but I think 2030 is a good FIRE estimate for us. I'll be 45.

I don't have the fancy spreadsheets most of you have, but our net worth is around $250k (including home equity), with $80k in tax-advantaged accounts. Looks like we're sitting around 1.8x right now. I'm planning to max out the 401k and Roth IRA this year. Prepaid my property tax for next year too.

FireHiker

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Re: 2030 FIRE Cohort
« Reply #264 on: January 02, 2018, 03:50:07 PM »
Welcome to the newcomers! It's good to have some more activity here. :)

I'm excited to see what 2018 holds for us. We've made some good progress the past couple years with cutting expenses but there is still a LOT of fat we can cut. I'm hoping we can hit a 50% savings rate this year and get my 401k loan paid off (taken out in 2012 for our primary residence long before we'd ever heard of MMM, down to about 19k left on it, and then 45k on my husband's, which is all of our debt aside from the 3.25% mortgage).

My husband is definitely more Boglehead than MMM so his target stash is 2.5M yielding a 4% withdrawal of 100k. I think it's way overkill and target for (a still very conservative b/c travel and healthcare) 75k/yr. Given 75k as our goal, we are at 11x currently in our stash (or 8.5x for his outrageous target). If we really target 2030 we will likely exceed even his 100k/yr target so I'm hoping to convince him we can pull the plug sooner. For now we'll stick around in 2030 though. That's when my youngest graduates from high school; the time will fly by if my oldest (11th grade) is any indication!

Bumbles8

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Re: 2030 FIRE Cohort
« Reply #265 on: January 02, 2018, 05:43:36 PM »
Beginning of a new year so a good time to make a post here.

Got to about 60k net worth.  Super barebones FI is probably ~500k (maybe less), and as high as my goals go before FIRE for right now would be 1 million.  So we will split it in half (750k) and say I'm:

2X of expenses

Hope to invest more than 35k this year.  Hopefully get to 100k about this time next year if all goes well.

This group is way far away, especially for someone as young as me (early to mid 20s)... but, 2030  would be kind of a stretch, kind of a realistic goal.

Road2Freedom

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Re: 2030 FIRE Cohort
« Reply #266 on: January 13, 2018, 12:31:49 PM »
Setting this as our goal, but may be a stretch as Personal Capital says we have a 52% chance of our portfolio supporting our goals.  Also likely in for a rough patch at end of year due to wife's position being moved overseas.  She'll receive a severance and there's still a chance she may be kept on.  Until then, we'll keep on keepin' on.

Age: 42 (me) & 45 (DW)

Net worth: $482,632 (includes $30,342 that is in a 529 and other investments for our son who is 16)
Rollover IRAs: $120,969 (me) and $44,329 (DW)
Mutual Funds: $40,343
Roth IRA: $42,826 (me)
401Ks: $31,506 (me) and $118,387 (DW)
Cash: $54,224 (checking/savings - fluctuates quite a bit as one can expect)
529 & other college funds for our son who is 16:  $30,342

We have no debt and currently rent (long story short is we plan on moving after our son finishes HS in 2019).

NW - 521,381.

Figure I would do a quick update.  Won't break out the numbers, but can say that I maxed out my Roth IRA earlier this week and also bumped up our 401Ks to 20% (DW) and 25% (me) since finding the FI community back in May.

DW has also been extended to March and there's a possibility she may be kept on as the move overseas hasn't gone well.   Negative is they were acquired by a new company and health insurance is not as good and also more expensive.  May have to adjust 401K contributions in order to put money into a HSA.  Must say we were fortunate to have incredible insurance for so many years.

NW - $558,000.  Market's hot start to the year has really helped out.  Personal Capital shows an increase of slightly over $19,000 since Jan 1. 

Still figuring out how much of an impact having high deductible health insurance will have this year.