Author Topic: 2030 FIRE Cohort  (Read 45441 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.

jtray

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Re: 2030 FIRE Cohort
« Reply #267 on: January 22, 2018, 01:24:44 PM »
In! Best calculation guess- my FI date will actually be 2032. But over time hopefully some good choices and luck will help me push that down to 2030.

Mezzie

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Re: 2030 FIRE Cohort
« Reply #268 on: January 24, 2018, 07:29:27 PM »
I thought I'd check in. I'm still following my plan. I hope you're all doing well.:)
http://forum.mrmoneymustache.com/journals/preparing-for-forced-early-retirement-due-to-disability/

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haypug16

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Re: 2030 FIRE Cohort
« Reply #269 on: January 25, 2018, 08:38:19 AM »
A quick little update on me.

X= Yearly Expenses
2017 - Stache at 1x   $25,000 - Ending Balance $29,448.59
2018 - Stache at 2x   $50,000 - current balance $31,448.96 = 1.25x expenses

I ended up reducing my 401K contribution to the match (3%) Since I still have some CC and SL debt I figured it made more sense to pay down the higher interest debt. Once the CC and the higher interest SL debt is paid off I'll get back to the plan of maxing out my 401K. CC should be done by this summer. SL will take a couple years total but I should be able to back off a little by the end of this year. Hopefully I can still get to my goal of hitting 2x expenses ($50K) With $18K left to reach that goal it's a pretty big long shot. Though my 401K did increase by $2K this month and I only put in a couple hundred so who knows.

NorthernDreamer

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Re: 2030 FIRE Cohort
« Reply #270 on: January 25, 2018, 08:46:36 AM »
I am now hoping we can reach FI by 2027. That brings us down to under 10 years, yay! It will depend on side projects and passive income by then. DH might be able to transition to part-time or consulting work by or before then and we might coast a bit into it. Our kids are 3 and 5 so there are so many unknown variables with them right now. We'd be retiring right in time for orthodontics, so the OMY syndrome might kick in to get benefits. Or maybe by then Canada will cover dental work too! Since they just started covering medical prescriptions for anyone under 24. Then again, I have to remind myself that if we have the $1 million + I'd like to retire, the cost of orthodontics is a drop in the bucket, and could be also covered by a don't-get-bored side hustle. Doesn't mean we have to keep working our 9-5s.

Lanthiriel

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Re: 2030 FIRE Cohort
« Reply #271 on: January 25, 2018, 11:09:27 AM »
This thread is so interesting due to the broad range of stash goals. I like the introduction of the "x" factor to compare a little more apples to apples. It makes me realize that I talk about my net worth on these boards a lot, but very little about how that actually relates to my FIRE goals. We're currently 30 and 34 with a net worth (minus home value) of $180k. Our goal is to retire with $1.5M in the bank. We also hope to have a paid off property at that time or enough on hand to buy our "forever home" in cash after we travel for a while. We're hoping the housing savings happens somewhat organically over time as we pay down our current house and it (hopefully) appreciates, so we don't include this in our planning, but may have to readjust that line of thinking as we get closer to FIRE.

So that puts us at the start of 2018 at 3X with the ultimate goal of 25X. Fingers crossed for a year of stable employment so we can really start stashing!

moonpalace

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Re: 2030 FIRE Cohort
« Reply #272 on: January 25, 2018, 11:48:46 AM »
Really great to see everyone's progress!

Best estimate of retirement spending is $35-40k, and current NW is $146k (up from $42k on Jan. 1, 2017).

So we're at basically 3.5 or 4x, and adding right around $4k/month to investments and paying down mortgage and student loans at almost $3k/month.

Cheers!

Erma

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Re: 2030 FIRE Cohort
« Reply #273 on: January 25, 2018, 01:12:06 PM »
I am still trying to figure out future spending. I assume our retirement spending will be higher than our current spending due to wealth tax and mandatory retirement contributions. I find this makes assumptions very hard. The saving part is much easier and working greatly since I learnt how to have an account with a broker.

NorthernDreamer

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Re: 2030 FIRE Cohort
« Reply #274 on: January 31, 2018, 09:58:25 AM »
I like thinking of it as how close to the 25x we are. Best guesstimates of how much we will be FIREing on, we are around 8x expenses. However, the final number is a moving target, so we could get there faster than expected. And hopefully not slower, though life happens sometimes.

I am actually slowing down on a side hustle to make more room in my life (and headspace) for family, friends and self care. This means I'll be earning slightly less per year but I think the trade off is worth it. I've had some people close to me have terrible health news lately so I've gained a bit of perspective in terms of what is important. Time with my young kids (and lack of mental distractions) is my priority right now especially since I should be able to still retire much earlier than the general population.

change_seeker

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Re: 2030 FIRE Cohort
« Reply #275 on: March 20, 2018, 05:39:33 PM »
Chiming in to join the 2030 club!  I will be 50 that year and set it as our target at my previous employer where my salary was higher but my taxes were higher as well.  I've recently started a new job (in a state with no income tax!) and we bought a new home in a new town, so I need to buckle down and crunch some numbers to see what it will take to make it happen.  Seeing your updates will prod me into action!
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haypug16

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Re: 2030 FIRE Cohort
« Reply #276 on: March 21, 2018, 06:28:26 AM »
Welcome change_seeker! Nice to see some action on this thread. With a long term goal like this (12 years to go!) it's good to see some postings to keep myself focused on the "end game"

LWTG

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Re: 2030 FIRE Cohort
« Reply #277 on: March 21, 2018, 07:29:42 AM »
Chiming in to join the 2030 club!  I will be 50 that year and set it as our target at my previous employer where my salary was higher but my taxes were higher as well.  I've recently started a new job (in a state with no income tax!) and we bought a new home in a new town, so I need to buckle down and crunch some numbers to see what it will take to make it happen.  Seeing your updates will prod me into action!

Welcome change_seeker!! A fellow 1980 baby here hoping to retire around 50 as well :)

Nice to see some action on this thread.

Agreed, been quiet around here.

--------------


A couple fun milestones for me lately-

Started trying to right our financial ship in 2013 (near bankruptcy at the time) and two of our big debts put us into a 60 month payment plan. Both those just got paid in full freeing up almost a thousand a month of cashflow!! Still lots of debt to pay, but first two we've actually paid off without some kind of re-fi.

It took us almost exactly 3 years to go from hitting NW zero to NW of $100K which averages to about $2,777 a month improvement. We've gone from $100K to $120K in 5 months even with the up/down market which averages to $4K a month. So hopefully we are finally picking up some steam :)


Consumer debt free by 40 - $46,700 and 30 months to go!

haypug16

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Re: 2030 FIRE Cohort
« Reply #278 on: March 21, 2018, 07:55:54 AM »
@LWTG Nice job! It must feel so nice to pay off those 2 big debts. Nice monthly increase in NW as well. You're chugging right along and the momentum will definitely start picking up.

change_seeker

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Re: 2030 FIRE Cohort
« Reply #279 on: March 21, 2018, 10:06:50 AM »
@LWTG, you may have to update your username at some point. NQSALWTG? Not quite such a long way to go?  Nice work on the debt paydown!
My Journal

"Wow, a vegan cowboy who... works on racecars for a living!" - Axecleaver

LWTG

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Re: 2030 FIRE Cohort
« Reply #280 on: March 21, 2018, 11:14:23 AM »
@LWTG Nice job! It must feel so nice to pay off those 2 big debts. Nice monthly increase in NW as well. You're chugging right along and the momentum will definitely start picking up.

Thanks!  yes it does feel nice. They started at $25,500 and $30,500 both ~12% interest so felt pretty insurmountable back then.

@LWTG, you may have to update your username at some point. NQSALWTG? Not quite such a long way to go?  Nice work on the debt paydown!

Haha thanks, another suggestion was WTG for just "way to go" but I do still have a longwaytogo so guess I'll keep it for now :)

Debt started at ~$100K in consumer debt and a $20K loan from DW's 403B. Consumer debt around $46K now and 403 loan will be paid in full in only 3 more payments.

Still have the Mortgage too but that's an insane good rate (2.75%) and set to be paid off right around 2030 so don't stress on that much.
Consumer debt free by 40 - $46,700 and 30 months to go!

BeautifulDay

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Re: 2030 FIRE Cohort
« Reply #281 on: March 21, 2018, 06:43:16 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

My timeline above was a guess at the way my assets would increase. This new timeline is based on my current salary, debt payoff schedule, and very small (almost nonexistent as there is a current freeze) salary increases. So according to my spreadsheet I am running behind.  But a lot can change. This scenario only accounts for all of my spending/income staying the same. But we are going to start a side business which could change our future income as well as lower our FIRE #. Also we could have some emergency or lifestyle change increasing or expenses and lowering income. Who knows what might happen.  So this is at best a rough estimate.  Hopefully we can exceed this plan.

As of January 1st
2017 - 1.26x
2018 - 2.17x
2019 - 2.86x
2020 - 3.77x
2021 - 4.85x
2022 - 6.01x
2023 - 7.25x
2024 - 8.57x
2025 - 10.00x
2026 - 11.52x
2027 - 13.18x
2028 - 14.95x
2029 - 16.84x
2030 - 18.87x
2031 - 21.05x
2032 - 23.38x
2033 - 25.87x

haypug16

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Re: 2030 FIRE Cohort
« Reply #282 on: March 22, 2018, 03:17:09 PM »
As a little update I'm hanging out around 1.24x Expenses (or 5% of my FIRE Goal). My 401K and other investments have been hovering around the same amount for the past month after they took a $2K drop and recovered about $1.5K of that. CCs will be paid off this month and then I'll be throwing the money that was going to pay that off into my Student Loans mostly but also partly into my 401K. Since my Student Loans have a 5.5% rate (or lower) I am OK will pulling back on the debt pay down plan a little in order to take advantage of tax breaks from the 401K plan. Long term goal is to have the Student Loans payed off by August 2021 so a little over 3 years. My "short-term goal is to get my Retirement balance to 2x expenses (or 8% of FIRE goal) by the end of this year. It'll be so nice when all the money I have going towards debt can be redirected to FIREing! Then I should hopefully see my investments really take off.

haypug16

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Re: 2030 FIRE Cohort
« Reply #283 on: April 13, 2018, 09:12:37 AM »
So for the heck of it and because well I love playing around with numbers I decided to add up the total number of working days until retirement. There are a few assumption.

1. Vacation days will remain at 20 per year
2. Holidays will remain at 10 per year
3. Personal days will remain at 2 per year
4. I'll retire on 12.31.2030 (it could be I retire earlier in the year but too soon to tell)

Here's what I came up with;

Today's date                        4/13/2018
Retirement Date                12/31/2030
Calendar Days left                     4,645
Weekend days left this year           -76
Weekend days in 2019-2030     -1,248
Holidays left this year                      -7
Holidays left 2019-2030               -120
Vacation days left this year             -20
Vacation days left 2019-2030       -240
Personal days left this year              -2
Personal days left 2019-2030         -24
Working days left till FIRE       2,908

Not sure if anyone else would find this helpful or just depressing but here it is. I kind of like "knowing" that this is the Maximum amount of working days I have left.

VanteBoll

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Re: 2030 FIRE Cohort
« Reply #284 on: April 13, 2018, 07:01:35 PM »
I am glad I found this thread. I am new to the forum but have been researching and finding my financial discipline for almost 2 years now. I know knowledge gained from all you like minded people is going to help me tremendously.

FIRE 2030 would have me at 18 years into my military career, so 2032 is more accurate but I'll hang around here if you all don't mind!

I'm nowhere near where I want to be or where I feel I should be yet savings wise. 25 and I became debt free this pays December, these first 4 months have been going towards saving some cash. Happy to say I have rental income coming in along with my IT job with the Coast Guard and H&R Block IT job. I hope to be proud of my numbers by the end of this year.

VanteBoll

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Re: 2030 FIRE Cohort
« Reply #285 on: April 13, 2018, 07:30:56 PM »
2030 would be age 40 for me. My most recent calculations have me on pace to retire by 37, but I'm sure a little thing called "life" could easily push that date back 3 years. In on this thread and interested in tracking everyone's stories.

Do you use excel sheets to track your journey?

Livethedream

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Re: 2030 FIRE Cohort
« Reply #286 on: April 13, 2018, 07:55:03 PM »
Looking to join in on this long journey.

I am 31, married, two young kids.

Wife works at home part time for family business, I work for state of CA. We are looking at me quitting my job in 10 years, so 2028-2030 is our target. As many of you, Iím sure the next few years will help firm up that date.

10 years would put me at 41 with a 13, 11 yo boys.

Weíre in kind of a unique situation and not trying to screw it up. We were gifted several paid for rental properties when we got married. We have since purchased two more and enjoy it. We will be looking at going into rentals ďfull timeĒ when I quit my job at 41. We will probably look at doing 1-2 house flips a year as well since I can do most of the work and hope to impart some good work ethics on our children.

Our goals:

Max out backdoor ROTH IRAS EACH YEAR

Pay off house by 2020 (I know many are against this, I understand why. For us 5 years to clear that debt is worth it). Probably worth mid $400k right now.

2020 start traveling as a family 4-6 weeks a year, looking to do maybe a month long stay some place each year.

Starting 2020 after house is paid off, we will put the extra large lump sums 50% into 401k or 457 (Roth or traditional not sure yet) and the other 50% into a fund for real estate purchases once I quit my job.

Look into starting our own non profit for giving and charity.

Once house is paid off that money will fill up car replacement funds, maybe raise our personal emergency fund, then be used for travel expenses.



jtray

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Re: 2030 FIRE Cohort
« Reply #287 on: Today at 09:45:01 AM »
Big changes in my life are:

Got a job that has a pension! (also I am learning about pensions!)
I qualify for a 457B as well so I will be getting that all set up shortly
Job comes with a union and some dues =( and some guaranteed raises =)

I know we are all in the accumulate wealth phase of life - so cheers to fighting lifestyle inflation and adding to the Stash.

What are you doing to stay motivated and "see results"?

haypug16

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Re: 2030 FIRE Cohort
« Reply #288 on: Today at 10:07:40 AM »
Congrats on the job jtray.

To stay motivated I have joined a couple races on the forum. One is the race to $10K where I am tracking my Networth. The other is the race to $50K where I am tracking my Retirement stash. Both keep me focused with monthly and semi-monthly updates.

I also use a lot of graphs to show my progress. Somewhere in the forum there is a post about creating an amazing dashboard in excel. I can't remember where I found it but I incorporated some of the graphs into my own spreadsheet and seeing my progress visually helps a lot.

FireHiker

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Re: 2030 FIRE Cohort
« Reply #289 on: Today at 11:42:32 AM »
Haypug16, I did the same math you did, adjusting for the fact that I get a ridiculous 29 days of vacation per year. 2817 left for me, worse case, if I work thorugh 12-31-2030. We're really planning worst case to be mid-June 2030 but I was too lazy to do the math to adjust for that.

We just got back last Sunday from a wonderful vacation that was way too rushed because of work and school. Looking forward to slower travel after FIRE!