Author Topic: 2030 FIRE Cohort  (Read 58880 times)

MoneyMouse

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Re: 2030 FIRE Cohort
« Reply #350 on: August 02, 2018, 09:47:02 AM »
By my rough excel calculations, Iíll be able to FIRE by around 2031, but that all depends on how a couple of big things play out- do I drop to a 30 hour work week once kids hit school age to spend more time with them?  How soon can I convince DW that itís okay to not let a financial advisor steal our money with 1.5% fees?

I'm a sucker for straight numbers, personally.
Would that work on her? Even just a straight comparison of the fees on a $10,000 investment? $150 for 15% or $70 for 7%?

Or maybe get her reading about ETFs and how it's actually not as complicated managing those yourself as most might think?

@MoneyMouse-  Donít worry about feeling ďlate to the gameĒ.  I have the same feeling- Iím 30, married with two kids and could have been in a much better (although it's not by any means bad now!) situation if I had actually known what I was doing earlier on.  I think we all suffer from ďman, if only I had done that!Ē.  But regardless you and I are shaving about 50% off of a standard working career.  Itís kinda like winning the super bowl by three touchdowns instead of four :).

Ha ha, that's a good point. Thank you for that perspective!


I've actually been thinking about a few things, as my love for my job has all but fizzled and crashed. (Horray huge-ass corporate change that no one wants and is only there to advance the career of the bigwigs pushing it, but will in fact horribly damage everything.)

I'll go into more detail about my thoughts in my journal, but I wanted to sort of brain-dump here and see if you all had some ideas.

I dislike my current job and work. I think HR was the wrong field, and I hate administrative work. I enjoy strategic thinking, communication, collaboration and relationship building. To me, this sounds like Business Analyst work and I am going to save up and go to school PT in September to get a BA Certificate and try to make the leap into that sort of work.

I am also considering arranging for 0.8 FTE (80% full time or 30 hours a week) if I can at my current work while I do that, and use the extra time to focus on studies and also take some part-time hustles like dog walking. I have spoken with my psychologist and she thinks maybe I'm just not "cut out" for full-time work. Which I totally agree with - it's another big reason why I wanna FIRE. Maybe doing this, I can cover my basic expenses with my job and then use all my additional jobs as savings money. Then, when I complete my certificate, maybe I can return to full time work as a Business Analyst and I'll be happier.

My biggest concern right now is that I'm just not happy and it's wearing on my mental and physical health.
I want to FI like crazy, but my job right now and my career choice is not at all lucrative. I'm trying to wrap my head and heart around the idea of pursuing happiness now and get reeducation into a better (both money- and satisfaction-wise) field to eventually get into FT work again.

Alright... word vomit over. Gonna put more details in that journal post but for now, there it is.

What do you guys think, Team 2030?

Steeze

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Re: 2030 FIRE Cohort
« Reply #351 on: August 02, 2018, 11:59:23 AM »
For the 1.5% fees, I usually do something like this:

Assume in a self directed account you achieve a long term average of 7%/yr gains over 30 yrs. Assume a financial advisor can do the same, but charges a 1.5%/yr fee.

$10,000 ◊ (1.07^30) = $76122
$10,000 ◊ (1.055^30) = $49839
That is a difference of $26,282 or 34%

Is having an advisor worth 1/3 of your wealth?

MoneyMouse

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Re: 2030 FIRE Cohort
« Reply #352 on: August 02, 2018, 01:28:04 PM »
For the 1.5% fees, I usually do something like this:

Assume in a self directed account you achieve a long term average of 7%/yr gains over 30 yrs. Assume a financial advisor can do the same, but charges a 1.5%/yr fee.

$10,000 ◊ (1.07^30) = $76122
$10,000 ◊ (1.055^30) = $49839
That is a difference of $26,282 or 34%

Is having an advisor worth 1/3 of your wealth?

Brilliant calculation!

Also... holy heck... I should transfer my stuff into Questrade and Vanguard, like, post-haste.

Finances_With_Purpose

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Re: 2030 FIRE Cohort
« Reply #353 on: August 03, 2018, 02:59:11 AM »
By my rough excel calculations, Iíll be able to FIRE by around 2031, but that all depends on how a couple of big things play out- do I drop to a 30 hour work week once kids hit school age to spend more time with them?  How soon can I convince DW that itís okay to not let a financial advisor steal our money with 1.5% fees?

I'm a sucker for straight numbers, personally.
Would that work on her? Even just a straight comparison of the fees on a $10,000 investment? $150 for 15% or $70 for 7%?

Or maybe get her reading about ETFs and how it's actually not as complicated managing those yourself as most might think?

@MoneyMouse-  Donít worry about feeling ďlate to the gameĒ.  I have the same feeling- Iím 30, married with two kids and could have been in a much better (although it's not by any means bad now!) situation if I had actually known what I was doing earlier on.  I think we all suffer from ďman, if only I had done that!Ē.  But regardless you and I are shaving about 50% off of a standard working career.  Itís kinda like winning the super bowl by three touchdowns instead of four :).

Ha ha, that's a good point. Thank you for that perspective!


I've actually been thinking about a few things, as my love for my job has all but fizzled and crashed. (Horray huge-ass corporate change that no one wants and is only there to advance the career of the bigwigs pushing it, but will in fact horribly damage everything.)

I'll go into more detail about my thoughts in my journal, but I wanted to sort of brain-dump here and see if you all had some ideas.

I dislike my current job and work. I think HR was the wrong field, and I hate administrative work. I enjoy strategic thinking, communication, collaboration and relationship building. To me, this sounds like Business Analyst work and I am going to save up and go to school PT in September to get a BA Certificate and try to make the leap into that sort of work.

I am also considering arranging for 0.8 FTE (80% full time or 30 hours a week) if I can at my current work while I do that, and use the extra time to focus on studies and also take some part-time hustles like dog walking. I have spoken with my psychologist and she thinks maybe I'm just not "cut out" for full-time work. Which I totally agree with - it's another big reason why I wanna FIRE. Maybe doing this, I can cover my basic expenses with my job and then use all my additional jobs as savings money. Then, when I complete my certificate, maybe I can return to full time work as a Business Analyst and I'll be happier.

My biggest concern right now is that I'm just not happy and it's wearing on my mental and physical health.
I want to FI like crazy, but my job right now and my career choice is not at all lucrative. I'm trying to wrap my head and heart around the idea of pursuing happiness now and get reeducation into a better (both money- and satisfaction-wise) field to eventually get into FT work again.

Alright... word vomit over. Gonna put more details in that journal post but for now, there it is.

What do you guys think, Team 2030?

I'll give the same recommendation I give to everyone struggling with career direction/finding traction in the workforce, which is this book.  It's a set of career-coaching lessons in one book, and even includes finances.  (And for the price of checking it out at the library...)

It's worth the time investment before you go putting time + money investments into other things, as it can help you set not just a direction in general, but a direction within your field. 

I'm also a big fan of high-quality aptitude testing to see what type of work/tasks you would succeed at, although that's substantially more expensive.

At the very least, you will walk away from those things knowing far more about yourself and in a better position to make the big-picture changes you need to make with confidence.

Finances_With_Purpose

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Re: 2030 FIRE Cohort
« Reply #354 on: August 03, 2018, 11:54:45 AM »
This TED talk is also informative.

MoneyMouse

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Re: 2030 FIRE Cohort
« Reply #355 on: August 03, 2018, 01:50:46 PM »
I'll give the same recommendation I give to everyone struggling with career direction/finding traction in the workforce, which is this book.  It's a set of career-coaching lessons in one book, and even includes finances.  (And for the price of checking it out at the library...)

It's worth the time investment before you go putting time + money investments into other things, as it can help you set not just a direction in general, but a direction within your field. 

I'm also a big fan of high-quality aptitude testing to see what type of work/tasks you would succeed at, although that's substantially more expensive.

At the very least, you will walk away from those things knowing far more about yourself and in a better position to make the big-picture changes you need to make with confidence.

Thank you!
I'll have to check that out from the library next week.

Hm, I'm not sure where to find aptitude tests, but I'll get in touch with a career coach who used to work in our office. Maybe she knows where I can find one.
I wouldn't mind learning more about what jobs would be a natural fit - I want that. I enjoy times when I feel competent and know I have skill sets that build that.
Unfortunately, right now, I'm most competent herding cats (read: other online players) in a game like Guild Wars 2, ha ha!

This is true about learning more about myself. I have changed significantly in the last 3 years, which is a good thing, I think.
I take it as a sign that I'm living life and creating my own future.

This TED talk is also informative.

Thank you!
I'll have to look into that tonight.

mizzourah2006

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Re: 2030 FIRE Cohort
« Reply #356 on: August 03, 2018, 07:00:14 PM »
I'll give the same recommendation I give to everyone struggling with career direction/finding traction in the workforce, which is this book.  It's a set of career-coaching lessons in one book, and even includes finances.  (And for the price of checking it out at the library...)

It's worth the time investment before you go putting time + money investments into other things, as it can help you set not just a direction in general, but a direction within your field. 

I'm also a big fan of high-quality aptitude testing to see what type of work/tasks you would succeed at, although that's substantially more expensive.

At the very least, you will walk away from those things knowing far more about yourself and in a better position to make the big-picture changes you need to make with confidence.

Thank you!
I'll have to check that out from the library next week.

Hm, I'm not sure where to find aptitude tests, but I'll get in touch with a career coach who used to work in our office. Maybe she knows where I can find one.
I wouldn't mind learning more about what jobs would be a natural fit - I want that. I enjoy times when I feel competent and know I have skill sets that build that.
Unfortunately, right now, I'm most competent herding cats (read: other online players) in a game like Guild Wars 2, ha ha!

This is true about learning more about myself. I have changed significantly in the last 3 years, which is a good thing, I think.
I take it as a sign that I'm living life and creating my own future.

This TED talk is also informative.

Thank you!
I'll have to look into that tonight.

For that type of stuff Onet is a good resource. Here is a 60 question interest profiler from the cite. Canít speak to its outcomes as Iíve never taken it before but as An I/O Psychologist Onetís research and resources are usually top notch. https://www.onetcenter.org/IP.html?p=2

Finances_With_Purpose

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Re: 2030 FIRE Cohort
« Reply #357 on: August 03, 2018, 09:12:38 PM »
I'll give the same recommendation I give to everyone struggling with career direction/finding traction in the workforce, which is this book.  It's a set of career-coaching lessons in one book, and even includes finances.  (And for the price of checking it out at the library...)

It's worth the time investment before you go putting time + money investments into other things, as it can help you set not just a direction in general, but a direction within your field. 

I'm also a big fan of high-quality aptitude testing to see what type of work/tasks you would succeed at, although that's substantially more expensive.

At the very least, you will walk away from those things knowing far more about yourself and in a better position to make the big-picture changes you need to make with confidence.

Thank you!
I'll have to check that out from the library next week.

Hm, I'm not sure where to find aptitude tests, but I'll get in touch with a career coach who used to work in our office. Maybe she knows where I can find one.
I wouldn't mind learning more about what jobs would be a natural fit - I want that. I enjoy times when I feel competent and know I have skill sets that build that.
Unfortunately, right now, I'm most competent herding cats (read: other online players) in a game like Guild Wars 2, ha ha!

This is true about learning more about myself. I have changed significantly in the last 3 years, which is a good thing, I think.
I take it as a sign that I'm living life and creating my own future.

This TED talk is also informative.

Thank you!
I'll have to look into that tonight.

No problem!  The TED talk I sent is from the author of that first book.  I keep meaning to do a blog post on all that - I spent a long, long time devouring every resource possible on the topic/issue and what I sent you are the best. 

As for aptitude testing, you can find the Johnson O'Connor Foundation in most major cities; they're supposedly the best.  My wife and I both took their test and loved it - we learned a lot about ourselves, both changed directions, and both love the direction we're headed in.  It may leave you with more questions than answers: things to explore, and some ideas of which directions to look for things you would be good at.  And it can also rule some things out.  Overall, we thought it well worth the investment (around $700 then) to know more about which job/direction to take, especially since both of us find so much fulfillment in the work that we do.  (More than most people: it turns out that's an aptitude as well.) 

My wife ended up with a new side gig doing things she loved as a kid but was told never to do, and now she both excels at it and makes money doing it, so it's a win-win, and could easily turn into something full-time for her one day. 

As a result of our aptitudes towards work, we have both spent tremendous time investing in this area to understand it, we're both learners, and we both came away with a ton of value added from their testing.  I know many others who've done it and found it very helpful as well - I was referred there originally by friends.   

There are also flip sides to various aptitudes.  For instance, an amazing research analyst/investigator may make a terrible ER physician, because the ER doc has to make tons of off-the-cuff triage decisions under stress, whereas a researcher or investigator can take time, explore connections, and find deeper answers.  Neither is right or wrong, they're just different ways people are made. 

Even within my own vocation, I now know well the things I should probably avoid, won't be as good at, won't enjoy, and will struggle through, as well as the areas where I will blow it away naturally - which is helpful. 

You might look up Johnson O'Connor if you're wanting more insight.

x02947

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Re: 2030 FIRE Cohort
« Reply #358 on: August 04, 2018, 11:10:39 AM »
Moneymouse and Steeze-  thank you muchly!  I have not done the drawn out over 30 years example and will definitely use that.  It's not like DW is particularly against us doing our own finances- it's more like retirement is "A Big Deal" so the "Experts Know Best" type of thing.  She is indeed coming around, so I'm not terribly worried about it and don't want to push it too hard. 

Moneymouse- elsewhere I read on the forum "do you want to FIRE because you hate your job, or do you hate your job because you want to FIRE?"  I think once you are able to find a schedule and field that works for you, you'll definitely see a big ol' happiness and satisfaction increase. 

I second all the advice about aptitude tests and the like, and would like to add that before making too much of a non-reversable jump try to talk to someone (several someones preferably) already in the field first.  See just how much "actual" work they do vs how much red tape and administrative stuff they deal with.  What does the promotion ladder look like?

cs2print

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Re: 2030 FIRE Cohort
« Reply #359 on: August 05, 2018, 10:26:31 PM »
Thanks for making this thread. 2030 the latest but trying for earlier!

chuckster

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Re: 2030 FIRE Cohort
« Reply #360 on: August 06, 2018, 12:23:12 PM »

2030 - Retire by end of year with 25x yearly expense rate



One thing to remember, if I myself am remembering correctly, is that the 25x  benchmark isn't "enough to retire on forever", it's only supposed to be "enough to retire on for 30 years with a reasonable likelihood of not running out of money". Just don't forget to factor in how long you think you might need that to last.

haypug16

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Re: 2030 FIRE Cohort
« Reply #361 on: August 06, 2018, 07:34:19 PM »
25x should last forever theoretically as long as I stick to the 4% SWR. Also whatever I get from social security is not factored in so that's all bonus. 

x02947

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Re: 2030 FIRE Cohort
« Reply #362 on: August 07, 2018, 08:24:35 AM »
Chuckster- technically you are correct about the 25x expenses is for 30 years-that's what the initial trinity study was looking at.  However, it turns out that for the vast majority of cases after 30 years you end up with more than you started out with so you can keep on going.  Also, according to the studies, at no point in previous history has the 4% rule had someone run out of money within 30 years- so with 4% being 100% successful over 30 years, a smart mustachian should be able to recognize well ahead of time that things are going poorly so maybe I should drop my spending to 3.5%, or put some effort into a side hustle to make some income, which effectively means only withdrawing 3.5%.  And, as haypug pointed out, the 4% study assumed no additional income whatsoever (no SS, no inheritance, no lucky pennies on the side of the road).

What is a "safe" SWR?

.00000001% That should be safe enough.

According to the Trinity study that investigated safe withdrawal rates, 4% has become commonly mentioned in most financial circles.

The true answer is going to be whatever percentage you're comfortable with. This is one of those risk based questions. If you're conservative you will want to go for a smaller SWR, if you're not conservative or have a larger than necessary ďstacheĒ greater than 4% is possible.

Other forum topics on the standard withdrawal rate. And MMM's take.


Mezzie

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Re: 2030 FIRE Cohort
« Reply #363 on: August 07, 2018, 02:17:28 PM »
I'm on track to be FI in 2030, but will likely work until 2033 for both pension and healthcare reasons. Also, I love my job. :)

haypug16

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Re: 2030 FIRE Cohort
« Reply #364 on: August 08, 2018, 08:14:00 AM »
Chuckster- technically you are correct about the 25x expenses is for 30 years-that's what the initial trinity study was looking at.  However, it turns out that for the vast majority of cases after 30 years you end up with more than you started out with so you can keep on going.  Also, according to the studies, at no point in previous history has the 4% rule had someone run out of money within 30 years- so with 4% being 100% successful over 30 years, a smart mustachian should be able to recognize well ahead of time that things are going poorly so maybe I should drop my spending to 3.5%, or put some effort into a side hustle to make some income, which effectively means only withdrawing 3.5%.  And, as haypug pointed out, the 4% study assumed no additional income whatsoever (no SS, no inheritance, no lucky pennies on the side of the road).

What is a "safe" SWR?

.00000001% That should be safe enough.

According to the Trinity study that investigated safe withdrawal rates, 4% has become commonly mentioned in most financial circles.

The true answer is going to be whatever percentage you're comfortable with. This is one of those risk based questions. If you're conservative you will want to go for a smaller SWR, if you're not conservative or have a larger than necessary ďstacheĒ greater than 4% is possible.

Other forum topics on the standard withdrawal rate. And MMM's take.


Exactly! and thanks for sharing the MMM post. My annual spending budget of $25K includes about $6.5k in variable spending. so if things are not looking good in the market I can for example postpone travel for a year and cut some other spending down and also look into some part-time work to make up the difference. I plan on being retired for well over 30 years :)

MoneyMouse

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Re: 2030 FIRE Cohort
« Reply #365 on: August 08, 2018, 10:05:19 AM »
Moneymouse and Steeze-  thank you muchly!  I have not done the drawn out over 30 years example and will definitely use that.  It's not like DW is particularly against us doing our own finances- it's more like retirement is "A Big Deal" so the "Experts Know Best" type of thing.  She is indeed coming around, so I'm not terribly worried about it and don't want to push it too hard. 

Moneymouse- elsewhere I read on the forum "do you want to FIRE because you hate your job, or do you hate your job because you want to FIRE?"  I think once you are able to find a schedule and field that works for you, you'll definitely see a big ol' happiness and satisfaction increase. 

I second all the advice about aptitude tests and the like, and would like to add that before making too much of a non-reversable jump try to talk to someone (several someones preferably) already in the field first.  See just how much "actual" work they do vs how much red tape and administrative stuff they deal with.  What does the promotion ladder look like?

One of the things I struggled with with my ex was that same issue. He would send me Wall Street Journal articles about couples in their 50s who were struggling to retire.
Problem with those was that the "expert" assumed the couple wanted to keep their $800k high-end home in a suburb, a lake lot with boat and 4x4 that they would spend summers in and share with friends and family, buy a new car every 5 years (why?!), and maintain their $3k/mth on eating out (which was separate from their groceries and liquor).

Of course you'd be struggling to retire if you live like that.

I actually had a phone interview yesterday that went quite well.
The position would essentially be a horizontal transfer for me - from entry-level HR (with low pay and no ladder in sight) to an entry-level BA (with equal to slightly higher pay and support to climb a ladder with clear rungs). From my talk with the HR lady, it seems like it actually would be a great fit. She asked a lot of questions - as did I - about what I enjoyed about the jobs I've done and why I think it would fit with the job there. She really didn't sugar coat anything, which I appreciate, and was especially clear with it being a support/entry position but with lots of room to grow upwards.

She even asked me if I was sure that I wouldn't prefer recruitment - and my answer was that I loved working with the clients and solving their problems, but I hated all the paperwork and actual hiring that happened with it.

I mentioned I would be going back to school in September and she was quick to explain that the company would support me in that.

Looking at a lot of BA blogs and information interviews, I think it would be right up my alley. I do want to ask the Senior BA when I meet them about what the paperwork and admin stuff looks like, and if I can expect to move upwards within 1-2 years.

AfricanMustache

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Re: 2030 FIRE Cohort
« Reply #366 on: August 09, 2018, 04:14:18 PM »
This is my very first post on the forum, having adopted the mustachian ways relatively recently. Having done the numbers we are planning for FIRE or at least FI by 2030 so I therefore happily join this cohort.

Our net worth is about $190k, the majority of which is in our retirement accounts, which will be accessible without penalty when we turn 55, which for me will be 2035 and for DW 2045. So we'll use our stash (with high WR) to tie us over between 2030 and 2035, at which point the retirement funds kick in. Our target spending post-FIRE will be around $35k.

So maybe an interesting scenario for the wise men and women of the MMM community with which I'd appreciate your help. It's a pay off the mortgage vs build stash scenario but since we live in South Africa the variables and considerations are somewhat different than you may be used to. My options are to pay off the mortgage in about 6 years ($230k outstanding) or start building our stash right away, which could then pay off the outstanding mortgage when we FIRE - we don't want mortgage repayments post-FIRE.

1. Mortgage interest rate is 9.2% (you read that right and that is considered low in these parts). It is a variable rate 20-year mortgage with about 20 years still currently remaining (new house).
2. Our local stock market (JSE) has been underperforming (trending sideways) in the last few years due to epic political mismanagement. Prior to that though it has been strong and even outperformed the first-world markets on most time scales. Still more political uncertainty lies ahead for the next few years though. Since our retirement funds may only be invested 25% offshore I already have my fill of local equities anyway and any stash building to be done will be through my U.S. investment account into S&P 500 and global equity index trackers.
3. The problem with 2 above is currency risk - buying dollar-denominated investments when I earn and spend SA Rands. Many a South African investor has in the past gotten negative on the country and moved as much as possible into hard currency, only for the rand to go on a bull run and wipe out any gains that may have otherwise been made. Currency moves almost become more relevant than market performance.
4. The government is currently pushing for constitutional amendments to allow for the expropriation of land without compensation (Venezuela and Zimbabwe-style?). There are differing opinions if and how expropriation may practically be done if at all, but suffice it to say I may not necessarily want to be putting all available excess funds into a mortgage over a property that may actually be legally taken from me by the government (rather let the bank carry the risk?).

I am fairly certain we can realistically achieve our 2030 FIRE goal but am not sure which way to go. Pay off the mortgage over the next 6 years then move to 70-75% SR for the last 5-6 years before FI or build the stash aggressively and worry about the mortgage later, given the country-specific points mentioned above.

x02947

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Re: 2030 FIRE Cohort
« Reply #367 on: August 10, 2018, 07:43:37 AM »
Welcome AfricanMustache! (Man, Iím only 4 posts old and already welcoming people, lol).  Iím sorry, I really donít have any advice regarding your mortgage/stash scenario.  Thatís way beyond my level of expertise.  Maybe try posting this in the larger forum, possibly the Ask a Mustachian subforum.  That way you would get exposure to some users with more MMM experience than us- possibly even another South African Mustachian! Either way though, I wish you the best of luck and please keep us posted!

One of the things I struggled with with my ex was that same issue. He would send me Wall Street Journal articles about couples in their 50s who were struggling to retire.
Problem with those was that the "expert" assumed the couple wanted to keep their $800k high-end home in a suburb, a lake lot with boat and 4x4 that they would spend summers in and share with friends and family, buy a new car every 5 years (why?!), and maintain their $3k/mth on eating out (which was separate from their groceries and liquor).

Of course you'd be struggling to retire if you live like that.

Even before I found MMM everyone kept telling me ďyou need 80% of your income in retirement!Ē and I was always confused because if I happily lived on less of that on a near-entry level salary, why would I need 2x or 3x my current expenses in retirement?

I actually had a phone interview yesterday that went quite well.
The position would essentially be a horizontal transfer for me - from entry-level HR (with low pay and no ladder in sight) to an entry-level BA (with equal to slightly higher pay and support to climb a ladder with clear rungs). From my talk with the HR lady, it seems like it actually would be a great fit. She asked a lot of questions - as did I - about what I enjoyed about the jobs I've done and why I think it would fit with the job there. She really didn't sugar coat anything, which I appreciate, and was especially clear with it being a support/entry position but with lots of room to grow upwards.

She even asked me if I was sure that I wouldn't prefer recruitment - and my answer was that I loved working with the clients and solving their problems, but I hated all the paperwork and actual hiring that happened with it.

I mentioned I would be going back to school in September and she was quick to explain that the company would support me in that.

Looking at a lot of BA blogs and information interviews, I think it would be right up my alley. I do want to ask the Senior BA when I meet them about what the paperwork and admin stuff looks like, and if I can expect to move upwards within 1-2 years.

I am reminded of a saying- ďMake the plan, work the plan.  Hope is not a valid course of actionĒ.  Sounds like you are making a level-headed rational decision, doing your research, and keeping your eyes open.  Things will get a bit hairy at time working full time and taking classes (personal experience here), but knowing what you want and will get out of it will go a long way towards keeping your sanity.

WGH

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Re: 2030 FIRE Cohort
« Reply #368 on: August 10, 2018, 01:47:17 PM »
Hello folks I will throw in my name for the 2030 crowd though it will be July 2031 when I will be eligible to retire with pension. Divorce unfortunately wiped out a chunk of my stache through the QDRO but it has readjusted my line of thinking from retiring at 55 with multi millions to 51 with close to a million and the pension.

Budgeting while married was a nightmare as the SO was a spendthrift so I am working to increase the savings rate. Just moved so new job, commute, property taxes, etc. still getting a handle on how little I can subsist on in this new situation. Paid off car and no consumer debt except the mortgage but student loans and childcare are the banes of my existence.

I look forward to cheering everyone on towards the goal!

AfricanMustache

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  • Posts: 6
  • Age: 38
  • Location: South Africa
Re: 2030 FIRE Cohort
« Reply #369 on: August 10, 2018, 01:50:31 PM »
Welcome AfricanMustache! (Man, Iím only 4 posts old and already welcoming people, lol).  Iím sorry, I really donít have any advice regarding your mortgage/stash scenario.  Thatís way beyond my level of expertise.  Maybe try posting this in the larger forum, possibly the Ask a Mustachian subforum.  That way you would get exposure to some users with more MMM experience than us- possibly even another South African Mustachian! Either way though, I wish you the best of luck and please keep us posted!


Thank you very much! I will definitely try one of the broader forums since I guess it is more specialized stuff :)