Author Topic: 2030 FIRE Cohort  (Read 132955 times)

Steeze

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Re: 2030 FIRE Cohort
« Reply #600 on: September 03, 2020, 09:48:44 AM »
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.

Welcome!

Mgmny

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Re: 2030 FIRE Cohort
« Reply #601 on: September 03, 2020, 11:24:12 AM »
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.

WOW! You post this yesterday and the market dives today. Way to jinx it for everyone!!

;)

Sanitary Engineer

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Re: 2030 FIRE Cohort
« Reply #602 on: September 30, 2020, 07:52:55 PM »
I canít tell if I have already signed up for a cohort. Probably not since there is never a cohort thread in my ďreplies to your postsĒ page.

I went through my current budget and salary and made year by year projections out to 2032. When the mortgage matures. I good to only get more frugal and to get better at both saving and supplementing income over the next 10 years. And to move my FIRE date down to 2030.

Ideally we would get expenses down to $24,000/year sans mortgage.

Iíll be 47 in 2030. The oldest will be 14. I would continue to earn money somehow once FI in order to buy things for the kids. Send them to camp and take them international.

TomTX

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Re: 2030 FIRE Cohort
« Reply #603 on: October 01, 2020, 05:09:08 AM »

Something interesting (at least for me) has how badly we have arranged our retirement income sources. A large part of our net worth is tied up in the house we currently live in - which Iím not sure the kids would ever want us to sell, and we also have a large chunk in funds which canít be accessed before age 65 (around 500k). We also have a largely property based approach to FI and our rental portfolio will kick into high gear later in life when the debt is all finally discharged. This means our 50s will be relatively tight on income, but we will have large amounts of income (over 200% of our fatfire income requirements) coming on stream for our golden years.

Since this didn't seem to generate any discussion, I'll go ahead and comment despite the lag time from posting.

If you need more equity out of real estate and don't want to sell, the next option is to do a cashout refi. Rates are super low, and longer loan terms mean more cashflow in the meantime.

I'm curious which type of funds can't be accessed before 65 - having $500k in an HSA seems improbable.

Eco_eco

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Re: 2030 FIRE Cohort
« Reply #604 on: October 04, 2020, 11:33:09 AM »

Since this didn't seem to generate any discussion, I'll go ahead and comment despite the lag time from posting.

If you need more equity out of real estate and don't want to sell, the next option is to do a cashout refi. Rates are super low, and longer loan terms mean more cashflow in the meantime.

I'm curious which type of funds can't be accessed before 65 - having $500k in an HSA seems improbable.

We are in New Zealand and donít have the same tax advantaged retirement accounts as are available in the US. We have a universal pension which is paid to all citizens from aged 65 (similar to social security in the US). We also have a national superannuation savings scheme called KiwiSaver which people can contribute to. Funds in KiwiSaver are locked up until aged 65. Contributions are matched for the first 3% so if you put it 3% of your salary your employer is required to also put in 3%. There is also a government contribution of about $500 a year.

My wife and I have contributed to superannuation since we started working about 25 years ago, these have rolled into our KiwiSaver accounts which are now well funded.

Since I posted this back earlier in the year weíve moved on to using a bucket strategy to plan out the years from aged 50 to 90. This divides our income into several large buckets and forecasts the capital we will need to maintain our lifestyle, with each bucket coming due in more or less 5 year lots. This has been a really helpful way to map out our asset allocation and targets. This has helped our decisions about when and how to release equity from our investment properties.

Our approach is based on the idea mapped out here:
https://retirementincomejournal.com/article/a-bucketing-strategy-for-m-t-knestors/
« Last Edit: October 04, 2020, 11:35:54 AM by Eco_eco »

rebel_quietude

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Re: 2030 FIRE Cohort
« Reply #605 on: October 20, 2020, 07:54:04 AM »
All right, everyone! I've owed you this for a while, so here it is: ROLL CALL!!!

As of today, our decade out 2030ish cohort has a record 126 members. That will obviously shift over the next few years as people refine their plans, but still . . . pretty awesome.

Some of you posted ages in your initial intros, and some didn't. I kept track of those that did since the last roll call, but haven't included here. My initial instinct is to exclude ages because everyone has their own timeline, and FIRE is a huge accomplishment regardless of when it happens - but including FIRE age on the roll call is certainly up for debate if you're all interested.

If there's someone I've left out, or your dates have changed, feel free to PM me to get it updated.

Without further ado, I give you . . . the class of 2030!

[a]bort                   2030
10dollarsatatime   2031
2bfree                   2030
401killer   2030
A fella from Stella   2030
aceyou    2031
Aelias    2030
AfricanMustache   2030
Aggie1994   2030
Alf91    2030
Anatidae V    2030
BeautifulDay    2030-2033
Blazinblasian   2030
Bobberth   2030
BobMueller   2030
Brandon1827   2030
BrokenBiscuits    2030
BruceWayne   2030
Btag84    2030
Bumbles8   2030
change_seeker   2030
CheapScholar    2030-2021
Chrissy   2030
Coffeefueled   2028-2030
Cornel_Westside   2027
cs2print   2030
DadJokes   2030-2034
daymare   2030
DebtFreeinPhilly   2025-2030
DeskJockey2028    2028 to 2032
Distshore    2030
Dodojojo   2030
dogboyslim   2030
dreadmoose   2030
dsw   ?
Eco_eco   2030
Engineer93   2030
erae   2030
Eric222   2030
Erma    2030-2033
Eventuality   2030
Evildunk99   2030
Fastfwd    2025-2030
FiguringItOut    2030
Finances_With_Purpose   2025 to 2030
FIreDrill   2030
FireHiker   2025, Congrats!
FrenchStache    2030
Frs1661    2030
fuzzy math    2030
Guava    2030
Haku   2030
HappierAtHome    2030
haypug16   2030
headwinds   2030
jfisher3    2030-2033
JimboJones31    2030
jtray    2032
k_to_the_v    2030
KBecks   2030
khangaroo   2029
KisKis    2031
kittenstache    2028-2030
Lanthiriel    2030
latterdayrasta   2030
LazyBones    2030
Letsdoit   ?
Livethedream    2028-2030
Lucky Ricardito   2032
Longwaytogo   2030
meerkat    2030-2033
Mezzie   2030
Mezzie   2033
Mgmny   2028-2033
mizzourah2006    2028 to 2030
MoneyMouse   2031
MoonLiteNight    2029
moonpalace    2030-2032
MrOynx   2030
MrsGoldenPiggy    2030
msbutterbean   2030
Must_ache   ?
Mustashio Bashio   2030
Nate R    2030
NoMoWork   2030
NorthernDreamer   2030
NorthernDreamer   2030
Pinkman   2030
rebel_quietude    2030
RidentheAsama   2030
Road2Freedom   2030
rufflina    2030
runewell   2030
Rural   2030 or earlier
Samsam    2030
Sanitary Engineer   2030
Sascatchewstach   2031-2033
scipsy    2030
sea   2030
seathink   2028
Semiretired31    2031
shinn497   2030
Shooter_D   2030
skip207   2030
Slow&Steady   2030
Snow   2030
startingsmall   2030
Steeze   2030
Sur del Sur   2030
SustainableStache   2030
swick   2030
Teacherwithamustache   2030
teamzissou00   2030
Terrifictim   2030
The Viking    2030
thedigitalalone   2030
TheMoneyWizard    2027 to 2030
TightFistedScot   2030-2035
Torios   2030
Twistedfirestarter   2030
VanteBoll    2032
VCaddy   2030
VTD0918    2030
wbarnett   2030
WGH   2031
X02947   2031
YarnBucket   2030
« Last Edit: November 11, 2020, 11:11:08 AM by rebel_quietude »

Saskatchewstachian

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Re: 2030 FIRE Cohort
« Reply #606 on: October 20, 2020, 01:34:09 PM »
All right, everyone! I've owed you this for a while, so here it is: ROLL CALL!!!

......

Love the list and thanks for compiling Rebel.

I had to go back and find my first post on this thread from 2017 to see what I was forecasting for 2030 and it's amazing how things can change in a few years. I was previously estimating NW of ~2Mil in 2031 however when I look at my numbers today for the year 2030 I get a NW of anywhere from 2.5M - 3.0M if I go with 4% or 7% returns over the next decade. Either way it's significantly higher than my projections from a few years ago.

2030 would mean I'm FIREing at 39 so who knows if I'll be ready or not but will have the FI piece down at the very least.

Longwaytogo

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Re: 2030 FIRE Cohort
« Reply #607 on: October 26, 2020, 03:11:05 PM »
We passed 1/4 of a million in net worth! I like how it sounds of I compare our net worth to 1 million instead of just "$250k". Of course, we've bought a house ($630k) so a lot of our with is tied up now, but it's pretty damn exciting regardless!

WooHoo, congrats!!!

QTR mill does have a nice ring to it :)  It's kind of like after you hit $100K that seems like the next exciting milestone, not that you don't have to go through $150 and $200 to get there but it sort of seems like $250 is the next big one.

Chuckled and thought of this thread when I logged onto Mint this morning. Hit $125K almost exactly so I'm at an eighth of a million, lol :) Half way to the next big milestone.

Sooooooo close to Quarter Million when I logged into Mint today.  If I can hit it by Nov 16th that would be 2.5 year/30 month to go from 1/8 to 1/4 which would seem pretty exciting to me :)

Fingers crossed!

All right, everyone! I've owed you this for a while, so here it is: ROLL CALL!!!

As of today, our decade out 2030ish cohort has a record 126 members. That will obviously shift over the next few years as people refine their plans, but still . . . pretty awesome.

Some of you posted ages in your initial intros, and some didn't. I kept track of those that did since the last roll call, but haven't included here. My initial instinct is to exclude ages because everyone has their own timeline, and FIRE is a huge accomplishment regardless of when it happens - but including FIRE age on the roll call is certainly up for debate if you're all interested.

If there's someone I've left out, or your dates have changed, feel free to PM me to get it updated.

Without further ado, I give you . . . the class of 2030!

LWTG    2030

WOW, thanks for compiling the list rebel_quietude :)

I went back to my old non abbreviated name - LWTG = longwaytogo

Highly unlikely I'll retire before Spring 2034 when my wife hits her 30 year pension eligibility; but still hope to be close to barbones or some type of FI by 2030 so I'll stay with that timeline/this cohort for now.

Onward and upward 2030-ers !!


mwulff

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Re: 2030 FIRE Cohort
« Reply #608 on: October 28, 2020, 02:00:46 AM »
Ok, I guess it's time to step up to the plate....

I am joining the 2030 Fire cohort. Because if I don't set a retirement date then I will probably never retire.

So this is it. On the 23rd of december 2029 I will walk out of a regular job for the last time.

I am in this weird situation where I could technically quit today but feel no desire to leave my job at this point in my life. My wife is a doctor who works 3 days a week and loves it. Her income alone is around twice what we need for a very very very comfortable life.

On top of that you can add my salary as a government employee (manager/developer) and things go from ridiculous to outright insane pretty quickly.

So why haven't I retired? Good question, I guess one of the answers is that I think I would be lonely. I'm 43 and all my friends are still working, so I'd be lost for things to do during weekdays. I'm also very extrovert and have a very high need to be around people and my job provides that (with some of the best coworkers anybody could wish for).

So right now we are in a coast-fi mode where the stache just grows and grows and we have a high degree of personal freedom. Also my job has a high degree of freedom and I basically get to set my own hours and take days off when I want (provided I don't overdo it).

But it has to end sometime and when you close doors sometimes more exciting doors open in front of you. So I'm joining the 2030 cohort and the clock is ticking.



Longwaytogo

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Re: 2030 FIRE Cohort
« Reply #609 on: November 11, 2020, 05:41:53 AM »
What's up 2030 crew??? Can't believe the year is winding down already. Only 13 years left :)

Finally hit our first 6 figure milestone, officially over 100K NW!!! For context I found MMM in May of 2013 with a negative ~$25K NW, hit NW zero in November of 2014 so just about 3 years to go from $0 to $100K.

This includes our Home equity and investments less our debts (mortgage and still a big chunk of consumer debt). It does not include DW's pension which has of course gone up in those 4 years as well but I don't really track the cash value. She is 13 years in so will most likely work until 2034 but I'm still hoping to get out by 2030.

With our improving ratios of debt/investments flipping more growth/interest into our favor combined with our slightly higher saleries I'm shooting for a goal of going from $100k to $250K in the next 3 years which if we can manage will be a big increase (50%) to the last 3 years.

Hope your all enjoying the Holiday season and the last bits of 2017 :D

WOW!! We actually did it; hit $250K today with my paycheck, DW's check from last Friday and the market bump up :) Quarter Millionaires!

~$145K invested retirement assets between 403 and 457

~$100K home equity

~$5K checking/savings

I'm honestly not exactly sure how we accelerated the pace by 50%; I guess a combination of more principle/less interest on debt and market gains picking up steam with a bit more stash; also a bit of tax savings I guess with the new higher contribution percentages.

Regardless, I'll take it.

startingsmall

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Re: 2030 FIRE Cohort
« Reply #610 on: November 11, 2020, 06:56:56 AM »
We're still tentatively targeting 2030, although my projections suggest we'll actually reach FI in 2027/2028. It's crazy to look back at my old posts and see that we're actually ahead of schedule!

Steeze

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Re: 2030 FIRE Cohort
« Reply #611 on: November 19, 2020, 06:27:23 PM »
There are 2380 business days left until 2030.

Anyone planning on calling it quits right at the beginning of the year, or will you try to time it out with bonuses/ raises / vacation time / 401k contributions?

Iím thinking I will work the first quarter of the final year and max the 401k and IRA, take a paid vacation, get all the medical exams I can.

I get a big bonus before Christmas - part of me just wants to get the bonus, go to the holiday party, then never go back.

PDXTabs

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Re: 2030 FIRE Cohort
« Reply #612 on: November 19, 2020, 06:32:40 PM »
Anyone planning on calling it quits right at the beginning of the year, or will you try to time it out with bonuses/ raises / vacation time / 401k contributions?

I'm nominally 2029, but it would be around November 2029 due to child commitments. So, I'll probably actually be Jan 1, 2030 to get those last few paychecks in 2029.

haypug16

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Re: 2030 FIRE Cohort
« Reply #613 on: November 23, 2020, 11:58:57 AM »
There are 2380 business days left until 2030.

Anyone planning on calling it quits right at the beginning of the year, or will you try to time it out with bonuses/ raises / vacation time / 401k contributions?


I think I will at least stay until Bonuses are paid out. If I stick with my current employer that will be in April. It's hard to say this far out if I'll stay longer than that. I guess it'll come down to if I've hit my number yet. I will want to max out my 401k too. So that may bring me closer to summer time.

aceyou

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Re: 2030 FIRE Cohort
« Reply #614 on: November 25, 2020, 12:29:34 PM »
So, yesterday was pretty cool. 

Net Worth    $1,000,865
Roth IRA     $233,078
Trad IRA     $309,095
Stache Total    $542,173
Pensions    $242,006
Life Insurance    $19,301
House Equity    $181,285
Cars    $6,000
Cash    $10,100
   

Accrual

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Re: 2030 FIRE Cohort
« Reply #615 on: November 25, 2020, 12:32:33 PM »
What the hell - I am in.

Mgmny

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Re: 2030 FIRE Cohort
« Reply #616 on: November 25, 2020, 12:40:36 PM »
So, yesterday was pretty cool. 

Net Worth    $1,000,865
Roth IRA     $233,078
Trad IRA     $309,095
Stache Total    $542,173
Pensions    $242,006
Life Insurance    $19,301
House Equity    $181,285
Cars    $6,000
Cash    $10,100

That's huge!!! Congratulations!!!

aceyou

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Re: 2030 FIRE Cohort
« Reply #617 on: November 27, 2020, 03:56:55 PM »
So, yesterday was pretty cool. 

Net Worth    $1,000,865
Roth IRA     $233,078
Trad IRA     $309,095
Stache Total    $542,173
Pensions    $242,006
Life Insurance    $19,301
House Equity    $181,285
Cars    $6,000
Cash    $10,100

That's huge!!! Congratulations!!!

Thanks!

Longwaytogo

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Re: 2030 FIRE Cohort
« Reply #618 on: November 29, 2020, 08:11:43 PM »
So, yesterday was pretty cool. 

Net Worth    $1,000,865
Roth IRA     $233,078
Trad IRA     $309,095
Stache Total    $542,173
Pensions    $242,006
Life Insurance    $19,301
House Equity    $181,285
Cars    $6,000
Cash    $10,100

Awesome job AceYou, congrats :)

haypug16

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Re: 2030 FIRE Cohort
« Reply #619 on: December 01, 2020, 05:55:04 AM »
Congrats @aceyou !!!

My update with 1 month to year end;

November 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 3.43x - Current Balance $85,680.40

Goal was $100k for YE but I don't see that happening. Maybe $90k if the market continues to do well.

Goals going forward
2021 - Stache at 6x   150,000.00 (this is going to be tough!)
2022 - Stache at 8x   200,000.00
2023 - Stache at 10x   250,000.00
2024 - Stache at 12x   300,000.00
2025 - Stache at 14x   350,000.00
2026 - Stache at 16x   400,000.00
2027 - Stache at 18x   450,000.00
2028 - Stache at 20x   500,000.00
2029 - Stache at 22x   550,000.00
2030 - Stache at 25x    625,000.00

DadJokes

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Re: 2030 FIRE Cohort
« Reply #620 on: December 01, 2020, 12:16:25 PM »
There are 2380 business days left until 2030.

Anyone planning on calling it quits right at the beginning of the year, or will you try to time it out with bonuses/ raises / vacation time / 401k contributions?

Iím thinking I will work the first quarter of the final year and max the 401k and IRA, take a paid vacation, get all the medical exams I can.

I get a big bonus before Christmas - part of me just wants to get the bonus, go to the holiday party, then never go back.

10 years from now is a long time to be thinking down to that level of detail. I probably won't know the specific details until a year or so out.

Mgmny

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Re: 2030 FIRE Cohort
« Reply #621 on: December 01, 2020, 12:36:08 PM »
There are 2380 business days left until 2030.

Anyone planning on calling it quits right at the beginning of the year, or will you try to time it out with bonuses/ raises / vacation time / 401k contributions?

Iím thinking I will work the first quarter of the final year and max the 401k and IRA, take a paid vacation, get all the medical exams I can.

I get a big bonus before Christmas - part of me just wants to get the bonus, go to the holiday party, then never go back.

10 years from now is a long time to be thinking down to that level of detail. I probably won't know the specific details until a year or so out.

Yeah same - really, we have no idea how the market will perform in the next 9 years, so maybe we'll all hit our FI numbers in 2028 after another "roaring 20s!" or maybe we'll have 2 years of negative 30% growth in 2028 and 2029 and we will all start targeting 2032+ - who knows!

I for one am already getting "OMY syndrome," and it's still 9 years out!

Nate R

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Re: 2030 FIRE Cohort
« Reply #622 on: December 01, 2020, 01:42:06 PM »
There are 2380 business days left until 2030.

Anyone planning on calling it quits right at the beginning of the year, or will you try to time it out with bonuses/ raises / vacation time / 401k contributions?

Iím thinking I will work the first quarter of the final year and max the 401k and IRA, take a paid vacation, get all the medical exams I can.

I get a big bonus before Christmas - part of me just wants to get the bonus, go to the holiday party, then never go back.

10 years from now is a long time to be thinking down to that level of detail. I probably won't know the specific details until a year or so out.

Agreed, I chuckled when I read that one. 2020 should be enough to teach us that it's hard to plan to that level that far ahead!

401Killer

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Re: 2030 FIRE Cohort
« Reply #623 on: December 01, 2020, 02:40:59 PM »
I'll play! 41y/o SINK.

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

Wow, update numbers below! Was a good year. =D

NW = $584k
Invested = $387k ($364 401k - $22k Roth)
House Value = ~$204k
Cash = $19.5K
Debt = $42.4k House

Steeze

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Re: 2030 FIRE Cohort
« Reply #624 on: December 01, 2020, 04:12:27 PM »
There are 2380 business days left until 2030.

Anyone planning on calling it quits right at the beginning of the year, or will you try to time it out with bonuses/ raises / vacation time / 401k contributions?

Iím thinking I will work the first quarter of the final year and max the 401k and IRA, take a paid vacation, get all the medical exams I can.

I get a big bonus before Christmas - part of me just wants to get the bonus, go to the holiday party, then never go back.

10 years from now is a long time to be thinking down to that level of detail. I probably won't know the specific details until a year or so out.

Agreed, I chuckled when I read that one. 2020 should be enough to teach us that it's hard to plan to that level that far ahead!

Itís a curse really. Couldnít tell you what Iím going to do for dinner tonight. Too busy formulating detailed plans for 10 years from now :)

wbarnett

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Re: 2030 FIRE Cohort
« Reply #625 on: December 02, 2020, 01:14:33 PM »
So, yesterday was pretty cool. 

Net Worth    $1,000,865
Roth IRA     $233,078
Trad IRA     $309,095
Stache Total    $542,173
Pensions    $242,006
Life Insurance    $19,301
House Equity    $181,285
Cars    $6,000
Cash    $10,100

Wow, that's awesome! I know that you have a long journal thread, but I haven't kept up much. Curious about how you ended up with $230k in a Roth IRA over 5 years? Some sort of rollover?

Aelias

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Re: 2030 FIRE Cohort
« Reply #626 on: December 03, 2020, 03:15:37 PM »
It's been a minute since I posted here, so I figure it's time for an update.

There's a lot of good news to report.  The first is that we're fully halfway to our extremely conservative, Bogleheads-worthy, big rolls of belly FatFire number and, as a result, are expecting to be fully done by 2028 and perhaps even a littler sooner if the stock gods continue to smile on us.

The other good news is that some of the big questions of life have been answered this year.  We had our third child last fall and are definitely done -- no more "what if" about another child.  We also pulled the trigger on a vacation home on land in country.  This has been a dream many years in the making and, with interest rates crazy low and finding the right place, we jumped on it.  We're planning to use it as a short-term rental eventually to defray some of the costs, but that's not essential to our plan, and we will probably put that off for a bit just to enjoy it ourselves.

The less good news is that 2020 has been a tough year for both of us job-wise.  We're both still employed and everyone is healthy, so we are grateful for that.  But doing the two remote working parents with remote school for two kids and on-and-off daycare for nine months has led to strained work relationships and serious burnout. There are a lot of mornings I wake up and think, "I cannot do this another eight years." My husband has gotten particular shit because he's taken the lead on schooling and he has one higher-up in particular that doesn't get it and, frankly, has made some pretty sexist comments about "his commitment" to his work.

On the one hand, there's a part of me that wants to just rent out the city house, move to the country, and downshift.  I could totally see me doing my job remotely and my husband being the SAH parent. But I'm wary of the "grass is always greener" thinking, and it would be a big lifestyle change for all involved. We also made the mistake of falling in love with our current home and we'd have a hard time turning it over to someone else, even as a rental.

All of which is to say, I feel bad for feeling bad when most everything in our lives is awesome.  I try to focus on gratitude, but it can be hard.  Number one goal for the coming year has to be prioritizing our mental and physical health.  Otherwise, the burnout is going to get us.




Much Fishing to Do

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Re: 2030 FIRE Cohort
« Reply #627 on: December 03, 2020, 03:36:13 PM »
It's been a minute since I posted here, so I figure it's time for an update.

There's a lot of good news to report.  The first is that we're fully halfway to our extremely conservative, Bogleheads-worthy, big rolls of belly FatFire number and, as a result, are expecting to be fully done by 2028 and perhaps even a littler sooner if the stock gods continue to smile on us.

The other good news is that some of the big questions of life have been answered this year.  We had our third child last fall and are definitely done -- no more "what if" about another child.  We also pulled the trigger on a vacation home on land in country.  This has been a dream many years in the making and, with interest rates crazy low and finding the right place, we jumped on it.  We're planning to use it as a short-term rental eventually to defray some of the costs, but that's not essential to our plan, and we will probably put that off for a bit just to enjoy it ourselves.

The less good news is that 2020 has been a tough year for both of us job-wise.  We're both still employed and everyone is healthy, so we are grateful for that.  But doing the two remote working parents with remote school for two kids and on-and-off daycare for nine months has led to strained work relationships and serious burnout. There are a lot of mornings I wake up and think, "I cannot do this another eight years." My husband has gotten particular shit because he's taken the lead on schooling and he has one higher-up in particular that doesn't get it and, frankly, has made some pretty sexist comments about "his commitment" to his work.

On the one hand, there's a part of me that wants to just rent out the city house, move to the country, and downshift.  I could totally see me doing my job remotely and my husband being the SAH parent. But I'm wary of the "grass is always greener" thinking, and it would be a big lifestyle change for all involved. We also made the mistake of falling in love with our current home and we'd have a hard time turning it over to someone else, even as a rental.

All of which is to say, I feel bad for feeling bad when most everything in our lives is awesome.  I try to focus on gratitude, but it can be hard.  Number one goal for the coming year has to be prioritizing our mental and physical health.  Otherwise, the burnout is going to get us.

Give yourself a break, its fine to admit things are not ideal and you want them to improve (you're not comparing yourself to the many that have it REALLY bad right now), I think its healthy to recognize you want things to improve somehow. 

And heck, if you are already 'halfway to a conservative fatfire', there is no way you both have to be working another 8 years if you don't want to unless we have a 00s type market.  All that said, this does seem like a "grit your teeth" time at the moment, 'cause (hopefully) the vaccines really will work and a year from now (which in the grand scheme of things is really really soon, the only period of time I ever suggest someone 'grit their teeth') it sounds like things will be remarkably different for you.


aceyou

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Re: 2030 FIRE Cohort
« Reply #628 on: December 07, 2020, 03:14:44 PM »
So, yesterday was pretty cool. 

Net Worth    $1,000,865
Roth IRA     $233,078
Trad IRA     $309,095
Stache Total    $542,173
Pensions    $242,006
Life Insurance    $19,301
House Equity    $181,285
Cars    $6,000
Cash    $10,100

Wow, that's awesome! I know that you have a long journal thread, but I haven't kept up much. Curious about how you ended up with $230k in a Roth IRA over 5 years? Some sort of rollover?

Right, fair question.

1.  Some has come from dw and i filling our roth ira the past 5 years.

2.  Dw and i both have access to both a 457 and a roth403b through our employer.  The last three years we have begun putting about half our contributions into the roth403b and other half in the 457, which is a tradtional ira.

3.  A couple years ago we realized that with the new tax code, we had overfilled our tradtitional iras...we could raise our adjusted gross inclome by about 20k and still stay in a super low tax bracket.  So, we transferred 20k from a403b to our roth403b.

4.  Gains on investments.

Add those.up, and the roth has grown fast over the past 5 years.  Because we will both draw pensions, our income wont be super low in retirement, so we want to keep our roth and traditional accounts balanced as we go along. 

Happy holidays!!!

dogboyslim

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Re: 2030 FIRE Cohort
« Reply #629 on: December 08, 2020, 02:00:36 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.
Update, as of 12/1, I have 241 days funded.  We also paid off the mortgage in August, so feeling pretty good still.  365 days paid target is now 7/24.  Assuming 6% annual returns I would be at 566 days paid on my 56th birthday.  3,443 days to go.

I may say f-it in 24 or stick it out.  If work stays like it is now, I'll be going early.  At least I still have work though, so I don't want to complain.
« Last Edit: December 08, 2020, 02:02:56 PM by dogboyslim »

Longwaytogo

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Re: 2030 FIRE Cohort
« Reply #630 on: December 29, 2020, 08:25:06 PM »
Dec 31, 2012  -($33,302)
Dec 31, 2013 -($20,162)    +13,140
Dec 31, 2014    $2,833       +22,995
Dec 31, 2015    $13,330     +10,497
Dec 31, 2016    $75,494     +62,164**
Dec 31, 2017   $106,827     +31,333
Dec 31, 2018    $125,811    +18,984
Dec 31, 2019   $221,500     +95,689**

** years in which I adjusted my Home value in my tracking; in reality was a more steady/linear increase but not the way I recorded it.

Dec 29, 2020  $267,000   +45,500

Bit of an odd year (obviously with the Pandemic, but meant more for myself financially)

Covid hitting in March had me a bit panicked about the economy/my job, etc. so I pulled the cord on my 15 year Mortgage plan and refi-ed to a new 30 year to lower our payment almost $1,500 a month and give us improved cash flow/peace of mind. On the back end we'll have to now either save more to cover the Mortgage or more aggressively pay it off down the road or some combination of both.

But because of that with the closing costs and small cash back, escrow shenanigans, skipped month payment, etc. it was mostly a wash with debt balance/paydown this year. So the majority of the increased NW this year was in retirement accounts which is pretty exciting :)  We did have to replace our Furnace/Air conditioner, Dishwasher, and Fridge this year for a total of about $12K. the fact we did  that without additional Credit card debt like in our past is really awesome (the refi cash back did help with Furnace)

We also started small 529 plans for the kids and we're aiming to contribute $300 a month to them for the next 8-9 years. Hoping to accumulate a little chunk to mainly help out during the years both kids will overlap.  Outside of that we may cash flow some via increased income (me) or decreased retirement contributions (DW). And they'll probably have to get some loans. But regardless it feels good to be throwing  a little something in there.

2021 should be exciting as I'm finally taking over my family business or really just starting a new one. But it's something I've wanted to do for a long long time so I'm nervously optimistic :)

Happy New Year 2030 crew!!

lcmac32

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Re: 2030 FIRE Cohort
« Reply #631 on: December 30, 2020, 12:00:07 PM »
I am going to join this cohort as it is the most likely.  I will be 59 in 2030, I feel like it will be more like FI rather than FIRE, but hey still worth doing.  It could come sooner, but we aren't in complete frugal mode.  We are trying to do things that absolutely improve our lives/makes us really happy.  That is not always in line with a sooner retirement.  I would gladly live very frugally in a LCOL area and in a  smaller home, but DW although frugal, is not quite on board with that.  We are debt free except for the mortgage, and are doing the cash out refi b/c the interest rate dictates we do so and invest the money. 

NW =  $305k (401k)
          $310k (home equity)
          $40k  (savings)
          $300k (cash equivalent of wife' pension) (I don't usually count that, but because it is now vested part of the equation)
          $955,000 (wow adding the pension makes me a lot closer to the $1,000k mark that I thought)

Now that it is written down (2030), I can work to do it sooner.


         

       
« Last Edit: December 30, 2020, 12:06:49 PM by lcmac32 »

pressure9pa

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Re: 2030 FIRE Cohort
« Reply #632 on: December 30, 2020, 01:00:57 PM »
Seeing as there is no club established for October of 2029, I hereby seek membership into your illustrious organization.

One kid will be in college, the other will be a couple years away from being eligible to being legally tried as an adult by the state of Indiana.  (Mostly joking.)
I will still probably be a landlord and a sports official at this time, but one is only few hours and the other is entirely within my control as to how many hours I want to put into it. 

Mgmny

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Re: 2030 FIRE Cohort
« Reply #633 on: December 31, 2020, 01:52:49 PM »

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

2020 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
  ending balance $365,000 = ~7x expenses
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

Net worth today is $587,000.

2020 was a bad year for salary for us, but we stayed the course and maxed out all tax advantaged accounts. 2021 here we come!
« Last Edit: January 04, 2021, 08:59:15 AM by Mgmny »

Steeze

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Re: 2030 FIRE Cohort
« Reply #634 on: December 31, 2020, 07:47:38 PM »
Ending the year up $167k some how. Blew away my expected increase of $125k.

Still on track for FI in 2027, although that depends heavily on not moving out of NYC and DW getting enough raises to offset the cost of daycare, which is going to be a challenge. If we move from NYC then there is no way we will make it before 2030.

Nate R

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Re: 2030 FIRE Cohort
« Reply #635 on: January 01, 2021, 10:38:37 AM »
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. :-)

Hit $250K total NW this month, and the stache is just under 5.5x. Chugging along!


Up to 386K total NW, stache at about 7.7x. Debt went UP this year (intentionally), so I'm excited to see the progress we still made overall, and progress on long term house maintenance needs, as well as progress on my dream of a cabin build.  Considering how 2020 went in general, we've done great financially, and consider ourselves extremely lucky.
« Last Edit: January 01, 2021, 10:42:32 AM by Nate R »

BeautifulDay

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Re: 2030 FIRE Cohort
« Reply #636 on: January 02, 2021, 09:50:51 PM »
in 2020 I discover that I actually like working. Hey who knew?! When work sent us home for a few weeks in March I got a taste of retirement, and didnít like it. Now, slowing down and having more options still sounds very nice.

So think I wonít completely retire, but will transition to semi retire by 2030-3033. Going to focus on FI and not so much RE. That wonít change much in the way of my goals because a lot can change in 10ish Yearís. So want to be prepared for anything.

As of January 1st  ó estimates in black and actual numbers in blue
2017 - 1.26x
2018 - 2.17x
2019 - 2.86x -2.94x
2020 - 3.77x -4.1x
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
« Last Edit: January 02, 2021, 10:13:28 PM by BeautifulDay »

dogboyslim

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Re: 2030 FIRE Cohort
« Reply #637 on: January 04, 2021, 08:27:26 AM »
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.
Update, as of 12/31, I have 253 days funded.  I purchased 52 days of retirement funding this year!
365 Target: 1/1/2024
Est. Days at retirement: 603
3,416 days to go!


DadJokes

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Re: 2030 FIRE Cohort
« Reply #638 on: January 04, 2021, 09:41:12 AM »
End-of-year update

Projected           |   Actual           
Year              Net Worth           Investments        % to FI      |Net Worth           Investments        % to FI               
2018  -  -  -|60.9k19.8k1.3%
2019  -  -  -|136.9k80.4k5.6%
2020203k134k9.4%|227.8k149.5k11.1%
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%|

We blew 2020's projection out of the water, but I'm not going to tinker with future projections just yet, as I think a lot of that is due to high valuations in the market. My tracker shows us as being FI in 2032-2033. However, I'll continue to work to move that up to 2030.

Lucky Recardito

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Re: 2030 FIRE Cohort
« Reply #639 on: January 05, 2021, 03:06:49 PM »
Haven't posted here in a while, but I'm still chugging along!

2020 was a really great year for us financially (despite the dumpster fire of the world around us).

EOY 2020 stats have us ~36% of the way toward our goal. I've updated my projections, and I now think we can actually hit FI in 2030 (I was previously forecasting 2032), at which point I'd be 47; DH would be 46; Kid 1 would be 11; Kid 2 would be 9. Too far out (and too many known unknowns) to actually be too bullish about any specific plans, but I do feel pretty confident saying we will be done working by age 50.

2021 will be a year of change -- aforementioned Kid 2 is scheduled to arrive in the spring; we'll become a 2-daycare-bill family (hahahahaha); we've got a couple of slow saving/investing years ahead of us... but all is well over here! Just bring on the general-availability Covid vaccine and we'll be aces.

Chrissy

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Re: 2030 FIRE Cohort
« Reply #640 on: January 06, 2021, 08:53:20 AM »
Update!

2015:  $604k, got married
2016:  $724k, Warrior Princess arrived
2017:  $860k
2018:  $900k, Chunky Baby arrived
2019:  $977k
2020:  $1.180M

Invested:  $717k
529s:  $125k
Cash:  $36k

The remainder is a car and some home equity.
« Last Edit: January 06, 2021, 07:27:20 PM by Chrissy »

haypug16

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Re: 2030 FIRE Cohort
« Reply #641 on: January 06, 2021, 09:05:40 AM »
Year End 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 3.58x - Ending Balance $89,404.88


Goals going forward
2021 - Stache at 6x   150,000.00
2022 - Stache at 8x   200,000.00
2023 - Stache at 10x   250,000.00
2024 - Stache at 12x   300,000.00
2025 - Stache at 14x   350,000.00
2026 - Stache at 16x   400,000.00
2027 - Stache at 18x   450,000.00
2028 - Stache at 20x   500,000.00
2029 - Stache at 22x   550,000.00
2030 - Stache at 25x    625,000.00 - Might need to bump up to $700k unless I can bring down my yearly spending. I did manage to cut $1,500 from my spending compared to 2019 so it's a start. I just need to do that a few times over. :/


reader321

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Re: 2030 FIRE Cohort
« Reply #642 on: January 12, 2021, 05:25:12 AM »
Any other DINKs here who are planning on remaining childfree? Joining this cohort with a goal to be FI in 2030 and possibly RE while DW continues working, which they love.

We live in a VHCOL area and bought a 100-year old house last year, so we will be focused on home improvements this year (landscaping, fencing, patio, and kitchen and bath ventilation, etc). Like others here, we are debt-free except our mortgage, which is at 3% but we hope to refi soon.

NW:    $290k (pre-tax retirement)
          $115k (roth)
          $45k   (brokerage)
          $100k (home equity net mortgage)
          $40k   (savings)
          $590k

Still a long ways from our target $2M but excited to put this goal down on paper.

Nate R

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Re: 2030 FIRE Cohort
« Reply #643 on: January 12, 2021, 11:23:18 AM »
Any other DINKs here who are planning on remaining childfree?

We live in a VHCOL area and bought a 100-year old house last year, so we will be focused on home improvements this year (landscaping, fencing, patio, and kitchen and bath ventilation, etc). Like others here, we are debt-free except our mortgage, which is at 3% but we hope to refi soon.

Still a long ways from our target $2M but excited to put this goal down on paper.

Welcome!

*raises hand* DINK here, no plans for kids.  (Age 35, married 14 years). Also have a 100 year old house, but not in a HCOL area. Been doing a lot of that sort of home improvement the last couple years. Hoping to slow down on that after another couple years!

mwulff

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Re: 2030 FIRE Cohort
« Reply #644 on: January 13, 2021, 01:24:36 AM »
Any other DINKs here who are planning on remaining childfree? Joining this cohort with a goal to be FI in 2030 and possibly RE while DW continues working, which they love.


Also DINK here due to some biological problems, but we have come to terms with it. I currently plan to FIRE in 2030 even as DW wants to continue working. Problem now is that even without a massive stache I could pull the plug right now since DW makes more than enough for us to live on.

It's very tempting as we live in a MCOL area and we have more than enough for everything we could ever want.