Author Topic: 2030 FIRE Cohort  (Read 133736 times)

Steeze

  • Pencil Stache
  • ****
  • Posts: 849
  • Age: 33
  • Location: NYC Area of Earth
Re: 2030 FIRE Cohort
« Reply #550 on: March 17, 2020, 01:13:21 PM »
So... being that we are all about 10 years out and everything will be back to normal by then .... this just means we potentially get to retire sooner right?

haypug16

  • Handlebar Stache
  • *****
  • Posts: 1311
  • Age: 42
  • Location: Boston, MA
Re: 2030 FIRE Cohort
« Reply #551 on: March 24, 2020, 08:41:24 AM »
So... being that we are all about 10 years out and everything will be back to normal by then .... this just means we potentially get to retire sooner right?

Yup :) That's my thinking.

rebel_quietude

  • 5 O'Clock Shadow
  • *
  • Posts: 74
  • Age: 35
  • Location: Colorado
Re: 2030 FIRE Cohort
« Reply #552 on: March 27, 2020, 11:10:54 AM »
Anyone want to play, "in March of 2020, I lost ___?"

I'm hoping to look back on this and think to myself, "yup. That was the best opportunity I ever had to buy on sale."

Between 19 Feb and 23 March, I "lost" about $251k. It's hard to comprehend . . . I re-balanced, though, so hopefully it will help in the long run!

DadJokes

  • Handlebar Stache
  • *****
  • Posts: 1757
Re: 2030 FIRE Cohort
« Reply #553 on: March 27, 2020, 12:02:19 PM »
I'll update my spreadsheet on April 1 and play along. Back of the envelope math suggests that the current balance is going to be lower than total contributions. If I wasn't focused on the long term, that would be pretty jarring.

However, since I have a decade or so to go, this is a pretty great opportunity, as long as I can continue to contribute.

brandon1827

  • Stubble
  • **
  • Posts: 178
  • Location: Tennessee
Re: 2030 FIRE Cohort
« Reply #554 on: March 30, 2020, 08:06:06 AM »
I've been resisting the urge to even check my 401K balance right now for fear of assured depression. I keep telling myself "I'm only 44...don't look at it...it'll come back...look for buying opportunities" but I'm really terrified to actually check the balance.

Steeze

  • Pencil Stache
  • ****
  • Posts: 849
  • Age: 33
  • Location: NYC Area of Earth
Re: 2030 FIRE Cohort
« Reply #555 on: March 30, 2020, 04:38:55 PM »
As of today my NW is down 25k, last week I was down 55k ... next week - TBD. Just hoping things hold up tomorrow so we can close this month's spreadsheet entry with something that isn't as shocking as the mid-month numbers. Lets all agree to just hold this level +/- 2% for the next year or three.

DadJokes

  • Handlebar Stache
  • *****
  • Posts: 1757
Re: 2030 FIRE Cohort
« Reply #556 on: April 01, 2020, 08:09:07 AM »
I lost $7,200 in February & another $10,000 in March. My current investments are about $3,200 lower than what I've contributed.

dreadmoose

  • Stubble
  • **
  • Posts: 226
  • Age: 33
  • Location: Canada
  • Compounding
Re: 2030 FIRE Cohort
« Reply #557 on: April 01, 2020, 10:08:51 AM »
From End of January to April 1st I am down $69,175.

Though I have sold nothing and actually added over $25,000 in investments during that time (included in the loss calculation).

Stock sales and all that.

Mgmny

  • Pencil Stache
  • ****
  • Posts: 841
  • Age: 30
  • Location: East Side of MSP
Re: 2030 FIRE Cohort
« Reply #558 on: April 01, 2020, 10:51:59 AM »
From my peak (2/19) to my bottom (3/23) I lost $83,000 which includes additions of about $8k during that time - so very close to $100k. Insane!

My company had big layoffs on Friday and everyone else remaining had to take a paycut (I had to take 5%). I don't think this will impact our date too much - at least as of what i know today - i still use 6.5% ROI in all my calculations. As long as my wife and I can keep our jobs, we'll keep maxing 401k, HSA, IRAs...

Steeze

  • Pencil Stache
  • ****
  • Posts: 849
  • Age: 33
  • Location: NYC Area of Earth
Re: 2030 FIRE Cohort
« Reply #559 on: April 01, 2020, 06:11:23 PM »
From my peak (2/19) to my bottom (3/23) I lost $83,000 which includes additions of about $8k during that time - so very close to $100k. Insane!

My company had big layoffs on Friday and everyone else remaining had to take a paycut (I had to take 5%). I don't think this will impact our date too much - at least as of what i know today - i still use 6.5% ROI in all my calculations. As long as my wife and I can keep our jobs, we'll keep maxing 401k, HSA, IRAs...
this
Damn - good to have the job still though, sorry about the pay cut.

My wages this year are in limbo for sure. I am due for a yearly raise this month which has been 10-20% a year for the last few years. On top of that my yearly profit sharing bonus is usually 15-20% of my wages for the year. The company also recently drastically increased its overhead betting on a large expansion over the next couple years, and already splurged on a year end company wide trip to the tropics to celebrate a major anniversary for the company. All signs pointing to no raise and crappy bonus. At least we have our health.

Road2Freedom

  • 5 O'Clock Shadow
  • *
  • Posts: 47
  • Age: 45
Re: 2030 FIRE Cohort
« Reply #560 on: April 03, 2020, 06:21:46 AM »
Hope everyone is well despite everything going on in the world.  It's certainly been a rocky ride since Feb 19-20 (high point for us based on Personal Capital).  My job (100% commission recruiting) has slowed down considerably but fortunate to have survived the first round of cuts.  My wife has also kept her job but has taken a 10% pay cut until further notice.

Some of the numbers:
Down $146,980 since Jan 1.  Investments (100% equities) are down $184,702 since Feb 19 (lowest point was down $242,460 on 3/23).  Having about 12 months in cash has made the situation a bit easier to deal with since I know we can handle one (or both) of us losing our jobs.

rebel_quietude

  • 5 O'Clock Shadow
  • *
  • Posts: 74
  • Age: 35
  • Location: Colorado
Re: 2030 FIRE Cohort
« Reply #561 on: April 03, 2020, 01:17:19 PM »
@Road2Freedom not going to lie, it's a relief to see someone's numbers look like mine. The "Race from 500k to 1 Mil" thread makes me think some folks have a waaay more conservative asset allocation than I; nice to remind myself that with a ten year time horizon, I can afford to take risk!

Sending positive vibes to everyone facing pay reduction or possible job loss. Stay well, folks.


dreadmoose

  • Stubble
  • **
  • Posts: 226
  • Age: 33
  • Location: Canada
  • Compounding
Re: 2030 FIRE Cohort
« Reply #562 on: April 03, 2020, 01:40:17 PM »
@Road2Freedom not going to lie, it's a relief to see someone's numbers look like mine. The "Race from 500k to 1 Mil" thread makes me think some folks have a waaay more conservative asset allocation than I; nice to remind myself that with a ten year time horizon, I can afford to take risk!

Sending positive vibes to everyone facing pay reduction or possible job loss. Stay well, folks.

I've been shocked reading through that and the races above. Seems a lot of people are way more conservative than the back testing allows.

Alittle bit of it is has to be the survivor bias, we're more likely to hear from people now that they had stockpiles of cash as it isn't as "shamed" as it would have been during the bull run. Those that lost a ton may not be checking or updating when others want to celebrate their shrewd decision making.

I try and remember that I have another decade and that losing more now is a symptom of having more in the first place (aggressive portfolios). Only losing 50K instead of 200K when you've sidelined a ton of your growth still puts you behind a proper allocation in the long run, or even already if you've been doing it for years.

Thanks for attending my Ted talk on things we already know.

Road2Freedom

  • 5 O'Clock Shadow
  • *
  • Posts: 47
  • Age: 45
Re: 2030 FIRE Cohort
« Reply #563 on: April 06, 2020, 09:00:59 AM »
@Road2Freedom not going to lie, it's a relief to see someone's numbers look like mine. The "Race from 500k to 1 Mil" thread makes me think some folks have a waaay more conservative asset allocation than I; nice to remind myself that with a ten year time horizon, I can afford to take risk!

Sending positive vibes to everyone facing pay reduction or possible job loss. Stay well, folks.

Agree regarding the risk piece.  I've always been way more conservative with cash but a lot of it has to do with my job.  Nothing like the feeling of making money to only have it taken back from you.

I haven't really followed the "Race from 500k to 1 Mil" but will have to take a peek again.

aceyou

  • Handlebar Stache
  • *****
  • Posts: 1612
  • Age: 37
    • Life is Good - Aceyou's Journal
Re: 2030 FIRE Cohort
« Reply #564 on: April 06, 2020, 06:38:20 PM »
Anyone want to play, "in March of 2020, I lost ___?"

I'm hoping to look back on this and think to myself, "yup. That was the best opportunity I ever had to buy on sale."

Between 19 Feb and 23 March, I "lost" about $251k. It's hard to comprehend . . . I re-balanced, though, so hopefully it will help in the long run!

Sure, I lost 138k last month. 

I responded by filling up my and DW's roths for the year. 

haypug16

  • Handlebar Stache
  • *****
  • Posts: 1311
  • Age: 42
  • Location: Boston, MA
Re: 2030 FIRE Cohort
« Reply #565 on: April 10, 2020, 11:27:52 AM »
I was down $3k in Feb and then anouther $10k in March. I increased my 401k contributions and Mr Pug and I are looking to throw $10k into the market next week to take advantage of some "sales"

mizzourah2006

  • Pencil Stache
  • ****
  • Posts: 644
  • Location: NWA
Re: 2030 FIRE Cohort
« Reply #566 on: April 10, 2020, 11:36:15 AM »
I update my NW monthly. Our peak update was end of January and at the end of March we were down $105k from January.

Guava

  • Stubble
  • **
  • Posts: 219
Re: 2030 FIRE Cohort
« Reply #567 on: April 15, 2020, 09:15:24 AM »
I haven't been around in awhile - life with work and kids means little free time. But here I am, while stocks are on sale, as a single income household that had to take a paycut with no extra cash to buy! Haha, oh well. Just popping in to say hi to everyone. I haven't run my numbers in a long time and now doesn't seem like the opportune time do so mentally.

We have another little peanut on the way hopefully at the end of July if s/he listens to plans. My last one didn't listen though (and still doesn't) so who knows. Being high risk means we have hardly left the house in almost 5 weeks now! And we are being way more mustachian than ever before, eating freezer food and eating down the pantry. This whole thing has showed how far away from our frugal pre-kid life we have strayed and didn't even realize it. Aside from my medical bills, we are only spending a few hundred dollars a month. It is pretty mind-blowing!

Hope everyone is well!

401Killer

  • Stubble
  • **
  • Posts: 134
Re: 2030 FIRE Cohort
« Reply #568 on: May 27, 2020, 09:57:23 AM »
I'll play! 41y/o SINK.

NW = $495k
Invested = $306k ($290 401k - $15k Roth)
House Value = ~$195k
Cash = $25K
Debt = $44k House

Currently maxing 401k and Roth IRA + %8 Company $1/$1 match. ~$32,500 yr. I'm pretty sure I really need to start pushing the after tax savings for the 10 year gap hardcore. Actually, as I type this, I'm going to double my Roth contributions...

x02947

  • 5 O'Clock Shadow
  • *
  • Posts: 89
  • Location: The South
Re: 2030 FIRE Cohort
« Reply #569 on: June 05, 2020, 11:18:06 AM »
... We have another little peanut on the way hopefully at the end of July if s/he listens to plans. ...

Congratulations!

@Road2Freedom not going to lie, it's a relief to see someone's numbers look like mine. The "Race from 500k to 1 Mil" thread makes me think some folks have a waaay more conservative asset allocation than I; nice to remind myself that with a ten year time horizon, I can afford to take risk!

Sending positive vibes to everyone facing pay reduction or possible job loss. Stay well, folks.

I've been shocked reading through that and the races above. Seems a lot of people are way more conservative than the back testing allows.

Alittle bit of it is has to be the survivor bias, we're more likely to hear from people now that they had stockpiles of cash as it isn't as "shamed" as it would have been during the bull run. Those that lost a ton may not be checking or updating when others want to celebrate their shrewd decision making.

I try and remember that I have another decade and that losing more now is a symptom of having more in the first place (aggressive portfolios). Only losing 50K instead of 200K when you've sidelined a ton of your growth still puts you behind a proper allocation in the long run, or even already if you've been doing it for years.

Thanks for attending my Ted talk on things we already know.

I have a large emergency fund and very stable job.  I used to run 80/20, then switched to 100/0 at the beginning of this year.  I figured if things were bad enough that 100% over the next 10 years didn't work, then neither would 80/20.  I just... didn't check my accounts last month and now they are actually higher than they were pre-COVID.  The stock market is weird, man. 

I'll play! 41y/o SINK.

NW = $495k
Invested = $306k ($290 401k - $15k Roth)
House Value = ~$195k
Cash = $25K
Debt = $44k House

Currently maxing 401k and Roth IRA + %8 Company $1/$1 match. ~$32,500 yr. I'm pretty sure I really need to start pushing the after tax savings for the 10 year gap hardcore. Actually, as I type this, I'm going to double my Roth contributions...

Hello and welcome!  That 8% match is pretty sweet. 

Looks like you are on a good start and have all your bases covered- good luck!

I've been keeping track of my networth every month for the past 2 years or so.  As I was updating it last night, on a whim I threw (networth/yearly expenses) vs (months) into an excel graph and used the equation solver to get an exponential equation for it .  I plugged in 25 (for 25x yearly expenses) into the equation and  the result (# of months required) matched my homebrew FIRE calculator to within 6 months.  (technically due to a pension I will FIRE before I hit 25x, but I ran my homebrew out to 25x just to see).  So to me this is another way of proving that I've matched my expected savings/growth rate for the past two years :)


dodojojo

  • Pencil Stache
  • ****
  • Posts: 726
Re: 2030 FIRE Cohort
« Reply #570 on: June 05, 2020, 11:36:07 AM »
Won't have a job at the end of the month.  If I'm not earning soon after and investing...may be booted out of 2030.

In any case, 2030 was aspirational, conservatively, 2032-33 was more likely.

Coast FI is 2036.

twistedfirestarter

  • 5 O'Clock Shadow
  • *
  • Posts: 69
Re: 2030 FIRE Cohort
« Reply #571 on: June 05, 2020, 03:57:29 PM »
Won't have a job at the end of the month.  If I'm not earning soon after and investing...may be booted out of 2030.

In any case, 2030 was aspirational, conservatively, 2032-33 was more likely.

Coast FI is 2036.
Sorry to hear your news. Hope you find something soon

rebel_quietude

  • 5 O'Clock Shadow
  • *
  • Posts: 74
  • Age: 35
  • Location: Colorado
Re: 2030 FIRE Cohort
« Reply #572 on: June 06, 2020, 07:24:54 AM »
Won't have a job at the end of the month.  If I'm not earning soon after and investing...may be booted out of 2030.

In any case, 2030 was aspirational, conservatively, 2032-33 was more likely.

Coast FI is 2036.

@dodojojo, the 2030 Fire cohort will release you at 2359 on 31 December, 2030, and not before. Once you're in, we don't let you go...

In all seriousness, good luck. I'm casting to the universe thoughts of your finding something better than what you're leaving, with awesome co-workers, reasonable hours and a nice benefits.

dodojojo

  • Pencil Stache
  • ****
  • Posts: 726
Re: 2030 FIRE Cohort
« Reply #573 on: June 06, 2020, 09:04:01 AM »

Thank you.  Two week countdown...need to get my butt in gear, but kind of in limbo right now.

dodojojo

  • Pencil Stache
  • ****
  • Posts: 726
Re: 2030 FIRE Cohort
« Reply #574 on: June 06, 2020, 09:11:50 AM »

@dodojojo, the 2030 Fire cohort will release you at 2359 on 31 December, 2030, and not before. Once you're in, we don't let you go...

In all seriousness, good luck. I'm casting to the universe thoughts of your finding something better than what you're leaving, with awesome co-workers, reasonable hours and a nice benefits.

LOL, okay.  Looks like I'm obligated for the rest of year.

Yeah, all the years on this board and the numerous times using FI calculators--in the back of the mind, the lingering fear was that the most likely roadblock to FI was a stretch of unemployment.  Now it's at my doorstep.  I admit I'm in a morass--hoping I can get things in gear this weekend.  Frankly, I wouldn't mind a little bit of time off.  Just fear long term unemployment.  So many unknowns with 2020.  I am, of course, grateful that being semi-MMM means I'll be okay for awhile.  Just hate the thought of a break in contributing to my retirement accounts.

dodojojo

  • Pencil Stache
  • ****
  • Posts: 726
Re: 2030 FIRE Cohort
« Reply #575 on: June 06, 2020, 09:16:06 AM »
BTW, how do you @poster name and skip quoting?  Thanks.

x02947

  • 5 O'Clock Shadow
  • *
  • Posts: 89
  • Location: The South
Re: 2030 FIRE Cohort
« Reply #576 on: June 08, 2020, 07:38:17 AM »
@dodojojo,  just type in the @ and then start typing in their username.  It will give you a list of names to choose from- just type in their full username and it will be the only one.

Good luck! 

dodojojo

  • Pencil Stache
  • ****
  • Posts: 726
Re: 2030 FIRE Cohort
« Reply #577 on: June 08, 2020, 10:18:21 AM »
@x02947 Thank you!!!

401Killer

  • Stubble
  • **
  • Posts: 134
Re: 2030 FIRE Cohort
« Reply #578 on: June 10, 2020, 08:13:37 AM »
@x20947

Thanks! Since that post I'm up to $509k! I set to max my HSA last week as well. So, 401k, Roth IRA and HSA fully funded. =D


dodojojo

  • Pencil Stache
  • ****
  • Posts: 726
Re: 2030 FIRE Cohort
« Reply #579 on: June 23, 2020, 05:48:10 PM »
Officially staying on the 2030 (aspirational) train.  I was saved by the hair on my chinny chin chin--still gainfully employed and still contributing to my 401K.

Road2Freedom

  • 5 O'Clock Shadow
  • *
  • Posts: 47
  • Age: 45
Re: 2030 FIRE Cohort
« Reply #580 on: June 24, 2020, 06:14:51 AM »
Officially staying on the 2030 (aspirational) train.  I was saved by the hair on my chinny chin chin--still gainfully employed and still contributing to my 401K.
Congrats regarding your job! 

My wife actually quit hers in April, because it was pretty toxic / working obscene hours, and started a new one a few weeks later.  Best part is it is hourly and pays more than her old salaried position.  I thought she was crazy, since she'd been applying for several months without luck, but the stars aligned.

Steeze

  • Pencil Stache
  • ****
  • Posts: 849
  • Age: 33
  • Location: NYC Area of Earth
Re: 2030 FIRE Cohort
« Reply #581 on: June 24, 2020, 07:31:03 AM »
Officially staying on the 2030 (aspirational) train.  I was saved by the hair on my chinny chin chin--still gainfully employed and still contributing to my 401K.

Awesome!!! Congratulations!

haypug16

  • Handlebar Stache
  • *****
  • Posts: 1311
  • Age: 42
  • Location: Boston, MA
Re: 2030 FIRE Cohort
« Reply #582 on: June 30, 2020, 09:29:22 AM »
Not sure if I'm going to reach my year end goal of getting my stache to 4x living expenses. I've been hanging out around 2.7x for most of the first half of the year.

Road2Freedom

  • 5 O'Clock Shadow
  • *
  • Posts: 47
  • Age: 45
Re: 2030 FIRE Cohort
« Reply #583 on: June 30, 2020, 06:58:38 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).

Yesterday marked the 3-year anniversary of entering the group and crazy to see how much things have changed.  It has also definitely been an interesting year thus far.  I survived a couple rounds of layoffs, but business is slower and on pace to make a lot less this year.  The only nice thing is I may get to stay 100%  remote.  It is nice not having to commute to work and get up earlier. 

My wife left her job in April but got lucky and found a much better opportunity within a few weeks.  Best part is the pay is slightly higher and it is hourly so there will be OT.

Those changes may result in not being able to invest as much as I anticipated this year.  My company limits your contribution % per pay period so it makes it tougher since I'm on commission with a recoverable draw.  My wife's company has a 90-day probation period before you can contribute so we're looking at almost 120 days without contributions.  It's not the end of the world, but I hate missing attainable goals.

I also got the sports card collecting / investing bug again and have been buying for the last year.  The market has been crazy and the items I've bought have seen a healthy increase.  I've been tracking purchases and look forward to seeing some realized gains soon.

I can't wait to see what the next year brings.


haypug16

  • Handlebar Stache
  • *****
  • Posts: 1311
  • Age: 42
  • Location: Boston, MA
Re: 2030 FIRE Cohort
« Reply #584 on: July 08, 2020, 07:01:38 AM »
Mid year 2020 update
X= Yearly Expenses
2017 - Stache at 1.17x  - Ending Balance $29,448.59
2018 - Stache at 1.41x  - Ending Balance $35,167.30
2019 - Stache at 2.628x - Ending Balance $65,693.78
2020 - Stache at 2.7x - Current Balance $68,782.41

Not much higher that end of 2019 so I'm not sure if I'll make my goal of 4x but I am still investing what I can and it is growing slowly so I am happy with that at least.

Mgmny

  • Pencil Stache
  • ****
  • Posts: 841
  • Age: 30
  • Location: East Side of MSP
Re: 2030 FIRE Cohort
« Reply #585 on: July 08, 2020, 07:27:05 AM »

2019 Year End Update

X= Yearly Expenses
2017 - Stache at 1x   $50,000 - Ending Balance $63,000
2018 - Stache at 2x   $100,000 - Ending Balance $165,000 = 3.3x expenses (Missing account got added to personal capital, so historical data is accurate)
2019 - Stache at 2.5x   $150,000 - Ending Balance $236,000 =   4.7x expenses
2020 - Stache at 4x   $200,000

2021 - Stache at 6x  $300,000
2022 - Stache at 8x   $400,000
2023 - Stache at 10x   $500,000
2024 - Stache at 12x   $600,000
2025 - Stache at 14x   $700,000
2026 - Stache at 16x   $800,000
2027 - Stache at 18x   $900,000
2028 - Stache at 20x   $1,000,000
2029 - Stache at 22x   $1,100,000
2030 - Retire by end of year with 25x yearly expense rate $1,250,000


I'll follow Haypug and do a mid-year update!

2020 Mid-Year Update

2017 - Stache at 1x   $50,000 - Ending Balance $63,000
2018 - Stache at 2x   $100,000 - Ending Balance $165,000 = 3.3x expenses (Missing account got added to personal capital, so historical data is accurate)
2019 - Stache at 2.5x   $150,000 - Ending Balance $236,000 =   4.7x expenses
2020 - Stache at 4x   $200,000
Current Balance: $290,000. Stache at 5.8x
2021 - Stache at 6x  $300,000
2022 - Stache at 8x   $400,000
2023 - Stache at 10x   $500,000
2024 - Stache at 12x   $600,000
2025 - Stache at 14x   $700,000
2026 - Stache at 16x   $800,000
2027 - Stache at 18x   $900,000
2028 - Stache at 20x   $1,000,000
2029 - Stache at 22x   $1,100,000
2030 - Retire by end of year with 25x yearly expense rate $1,250,000

Considering we front-load most of our tax-advantaged investments (already maxed 1 401k, family HSA, and almost another 401k), we're doing OK for this year. Going into 2020 we had a pretty healthy $36,000 "lead" on the plan, but 2020 markets have seen much volatility, so we'll see how it shakes out!
« Last Edit: July 08, 2020, 07:28:42 AM by Mgmny »

KBecks

  • Handlebar Stache
  • *****
  • Posts: 2358
Re: 2030 FIRE Cohort
« Reply #586 on: July 08, 2020, 07:40:56 AM »
This is probably our cohort.  Age 59.5? Kids will all be out of the house and making their way in the wordl?  It's good to have a target.  Posting to follow.  Launching the kids is the big endeavor. NW is in pretty good shape, absent health catastrophe or other catastrophes.
« Last Edit: July 08, 2020, 07:42:40 AM by KBecks »

DadJokes

  • Handlebar Stache
  • *****
  • Posts: 1757
Re: 2030 FIRE Cohort
« Reply #587 on: July 08, 2020, 08:08:53 AM »
Sure, a mid-year update sounds fun.

Year              Net Worth           Investments        % to FI               
201860,89819,8121.32%
2019136,89380,4185.63%
7/1/20169,495102,3787.16%
Projected
2020203k134k9.4%
2021284k198k13.7%
2022371k268k18.2%
2023484k347k23.2%
2024594k435k28.7%
2025713k534k34.8%
2026848k646k41.4%
2027997k770k48.7%
20281.162m909k56.7%
20291.344m1.064m65.4%
20301.545m1.237m74.9%

2030 is still a long shot, but when I ran the numbers 6 months ago, we were only projected to be 67% FI by 2030, so we are moving in the right direction.

dogboyslim

  • Pencil Stache
  • ****
  • Posts: 508
Re: 2030 FIRE Cohort
« Reply #588 on: July 09, 2020, 01:15:52 PM »
At year end I had 201 days/year of retirement funded.  Through the worst it dropped down to 170 days, and now I'm back up to 204 days.  Full funding projected 7/2025.  Then 4.5 years of cushion for another event like this one.

Eco_eco

  • 5 O'Clock Shadow
  • *
  • Posts: 30
  • Location: Wellington, New Zealand
    • Nineteen-Six.com
Re: 2030 FIRE Cohort
« Reply #589 on: July 14, 2020, 10:21:45 PM »
Its great to hear how everyone is getting on.

Here's my midyear update.

Year % to FI
7/201825%
7/201939%
7/202054%

We have made some considerable progress this year by upping our savings rate dramatically, and because most of our investments are in property rather than stocks. Property hasn't yet had a dramatic fall.

Some other things I've been doing to keep focused are:

  • I've given up on budgeting and instead have set up transaction accounts for every category of our budget. Each week our spending money is automatically transferred to the various accounts that I've set up, and then we spend out of them. This works like an envelope system but avoids having to track transactions. Psychologically it works for me as I can see the money as we spend it from each category and know when to stop.
  • I've set up a mini target of a fund to pay for our cellphone costs. I found myself wanting a new iPhone and so decided I can have one when I've saved up 25x the purchase price spread over four years. So assuming I plan to have a new phone that costs $2,000 every four years I can have one when I have a mini-fund that that will give off $500 a year (ie a fund of $12,500). So far I've saved $4,500 in this fund, having a small target makes it much easier than the big million dollar goal
  • I've also set up mini-funds for the kids. We put in $100 a week per child, which will mean we've contributed around $50,000 each over the next ten years, which will ensure they are well set up for young adulthood (we don't have to save for college in my country). With two kids it means we are giving up $100,000 of capital, which we won't really notice if we keep working for the next ten years, but it should be transformational for them as they start out on adulthood. It also creates an emergency buffer if they have unforeseen costs.

Steeze

  • Pencil Stache
  • ****
  • Posts: 849
  • Age: 33
  • Location: NYC Area of Earth
Re: 2030 FIRE Cohort
« Reply #590 on: August 02, 2020, 08:02:58 PM »
Today I realized that I have enough saved for DW and I to retire at 60 y.o. as long as we covered our expenses between now and then. Thatís not accounting for social security at all either.

Feels good to know we have our older selves taken care of.

Road2Freedom

  • 5 O'Clock Shadow
  • *
  • Posts: 47
  • Age: 45
Re: 2030 FIRE Cohort
« Reply #591 on: August 03, 2020, 07:09:33 AM »
Today I realized that I have enough saved for DW and I to retire at 60 y.o. as long as we covered our expenses between now and then. Thatís not accounting for social security at all either.

Feels good to know we have our older selves taken care of.

Congrats and that has to feel awesome!

haypug16

  • Handlebar Stache
  • *****
  • Posts: 1311
  • Age: 42
  • Location: Boston, MA
Re: 2030 FIRE Cohort
« Reply #592 on: August 07, 2020, 08:57:31 AM »


  • I've set up a mini target of a fund to pay for our cellphone costs. I found myself wanting a new iPhone and so decided I can have one when I've saved up 25x the purchase price spread over four years. So assuming I plan to have a new phone that costs $2,000 every four years I can have one when I have a mini-fund that that will give off $500 a year (ie a fund of $12,500). So far I've saved $4,500 in this fund, having a small target makes it much easier than the big million dollar goal
I love this idea of mini target funds! Knowing that you have one catagory checked off for life seems very motivating.

haypug16

  • Handlebar Stache
  • *****
  • Posts: 1311
  • Age: 42
  • Location: Boston, MA
Re: 2030 FIRE Cohort
« Reply #593 on: August 07, 2020, 09:46:30 AM »
I just had a lovely realization. Assuming we either stay in our current home or use the money from the sale to purchase a new home without increasing our mortgage I can lower my target number since our mortgage will be paid off at most 3 years after retirement. It may get paid off a bit sooner but 3 years is the most. In this case I am at 3x yearly expenses as of today (was 2.87) a little bit closer :D
« Last Edit: August 11, 2020, 07:48:35 PM by haypug16 »

YarnBudget

  • 5 O'Clock Shadow
  • *
  • Posts: 8
  • Age: 30
  • Location: Massachusetts
Re: 2030 FIRE Cohort
« Reply #594 on: August 09, 2020, 06:35:27 PM »
Hello, all! I'm finally ready to declare membership in the 2030 cohort!

I remember reading through this thread some time maybe in late 2018 and wanting to join in--don't know why I didn't, maybe 2030 just seemed too far away to really commit.

But I've just read through again and you all are so inspiring, I just had to join in!

Anyway, I'm plugging along currently, saving as much as I can while I can. Single 29-year-old woman living in a suburb of Boston. My shiny new but small part-time salary is $38k this year and I live almost rent-free with my parents in exchange for helping them around the house and providing occasional medical care, so I'm on track to save over $28k of that (well, "saving"--I've been maxing my IRA and then putting everything extra towards paying off my student loans; once those are gone next year I'll be investing all of it). I'm anticipating my spending in retirement will be under $25k/year, but I'm kind of just guessing at that number after estimating eventual housing costs, and I'll bump it up more if need be.

I have a lot of uncertainty around my future spending since I have so few expenses right now, but I'm fairly certain I will remain single and won't need a car, and I am absolutely certain that I will never have children, so that helps eliminate additional complications.

Right now I have $78k in savings and investments and $21k left on the student loans, so my net worth is at $57k.

My goal is to make it to 2.75x my FIRE expenses ($68,750) by the end of the year, but we'll see how the markets behave...


Steeze

  • Pencil Stache
  • ****
  • Posts: 849
  • Age: 33
  • Location: NYC Area of Earth
Re: 2030 FIRE Cohort
« Reply #595 on: August 09, 2020, 06:44:02 PM »
@YarnBudget congrats on the 10-year plan!! Welcome to the cohort!

haypug16

  • Handlebar Stache
  • *****
  • Posts: 1311
  • Age: 42
  • Location: Boston, MA
Re: 2030 FIRE Cohort
« Reply #596 on: August 10, 2020, 07:08:45 AM »
Welcome @YarnBudget , I'm also very close to Boston, about 15 mins North, so Hi neighbor. : )

wbarnett

  • 5 O'Clock Shadow
  • *
  • Posts: 57
  • Location: Denver, CO, USA
Re: 2030 FIRE Cohort
« Reply #597 on: August 10, 2020, 01:43:21 PM »
I would love to hear about the various withdrawal strategies of people in this cohort. I know there are separate threads for this type of thing, but we're all in the same FIRE cohort so it's more relevant to ask you all.

Short description of my plan:
- Accumulate 5+ years of living expenses in taxable accounts. Hopefully LTCG tax rates stay low (currently 0% for MFJ under $78k, which is more than our annual expenses).
- Start rolling over 401k money into Roth IRA during those 5 years. These rollovers are taxed as income, but if I can stay in the income bracket dictated by the drawdown above then the tax hit is lessened.
- After 5 years, start drawing on the contributions (actual and rollover) from the Roth IRA. Continue 401k rollover as needed.



Steeze

  • Pencil Stache
  • ****
  • Posts: 849
  • Age: 33
  • Location: NYC Area of Earth
Re: 2030 FIRE Cohort
« Reply #598 on: August 10, 2020, 06:58:57 PM »
Will have about 40% of stash in taxable.
Dividends should be about 25% of expenses.
Will take 1 yr in cash.
Then start a 5 year Roth conversion ladder up to LTCG threshold
Replenish cash in January from taxable
Use Roth after taxable is exhausted
Social security at 62

Plus - try to make money still, mow some lawns, flip some houses, teach ski lessons -  just whatever feels right. Not the type to never make money again - maybe up to 16 hrs a week of paid work will suit me and cover most of my bills.

NoMoWork

  • 5 O'Clock Shadow
  • *
  • Posts: 3
Re: 2030 FIRE Cohort
« Reply #599 on: September 02, 2020, 08:23:19 PM »
My first post (rookie)...I've been reading for years.  Wife and I are planning to FAT FIRE in 2030.  Hoping to move this up if the market continues to behave.