Author Topic: 2030 FIRE Cohort  (Read 200265 times)

FirePita

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Re: 2030 FIRE Cohort
« Reply #250 on: December 27, 2017, 08:25:53 PM »
Posting to follow. Looks like people are doing great so I'm excited to join this lovely cohort to feed off everyone's energy :)

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

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

Nate R

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Re: 2030 FIRE Cohort
« Reply #251 on: December 31, 2017, 09:01:02 PM »
Just updating on my progress.

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

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

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

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

haypug16

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Re: 2030 FIRE Cohort
« Reply #252 on: January 01, 2018, 08:35:59 AM »
Happy New Year!!! One year closer to FIRE! :P

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

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

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

dreadmoose

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Re: 2030 FIRE Cohort
« Reply #253 on: January 02, 2018, 01:01:51 PM »
Count me in.

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

I currently have a 59% savings rate.

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

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

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

2017-1.8x stacheDONE
2018-3.1x stache
2019-4.6x stache
2020-6.1x stache
2025-16.6x stache
2030-32.5x stache

BeautifulDay

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Re: 2030 FIRE Cohort
« Reply #254 on: January 02, 2018, 02:42:55 PM »
Based on Jan numbers
2017 - Stache at 1x 1.9 - But we bought a house in 2017 with those expenses (closing/down pmt/ moving) removed we were at 1.26
2018 - Stache at 2x 2.17
2019 - Stache at 3x
2020 - Stache at 4.5x
2021 - Stache at 6x
2022 - Stache at 8x
2023 - Stache at 10x
2024 - Stache at 12x
2025 - Stache at 14x
2026 - Stache at 16x
2027 - Stache at 18x
2028 - Stache at 20x
2029 - Stache at 22x
2030 - Stache at 25x

wbarnett

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Re: 2030 FIRE Cohort
« Reply #255 on: January 02, 2018, 03:16:35 PM »
First post! Just discovered this world in September 2017. It feels weird to plan for something 12-13 years away, but I think 2030 is a good FIRE estimate for us. I'll be 45.

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

FireHiker

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Re: 2030 FIRE Cohort
« Reply #256 on: January 02, 2018, 03:50:07 PM »
Welcome to the newcomers! It's good to have some more activity here. :)

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

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

Bumbles8

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Re: 2030 FIRE Cohort
« Reply #257 on: January 02, 2018, 05:43:36 PM »
Beginning of a new year so a good time to make a post here.

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

2X of expenses

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

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

Road2Freedom

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Re: 2030 FIRE Cohort
« Reply #258 on: January 13, 2018, 12:31:49 PM »
Setting this as our goal, but may be a stretch as Personal Capital says we have a 52% chance of our portfolio supporting our goals.  Also likely in for a rough patch at end of year due to wife's position being moved overseas.  She'll receive a severance and there's still a chance she may be kept on.  Until then, we'll keep on keepin' on.

Age: 42 (me) & 45 (DW)

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

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

NW - 521,381.

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

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

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

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

jtray

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Re: 2030 FIRE Cohort
« Reply #259 on: January 22, 2018, 01:24:44 PM »
In! Best calculation guess- my FI date will actually be 2032. But over time hopefully some good choices and luck will help me push that down to 2030.

Mezzie

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Re: 2030 FIRE Cohort
« Reply #260 on: January 24, 2018, 07:29:27 PM »
I thought I'd check in. I'm still following my plan. I hope you're all doing well.:)

haypug16

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Re: 2030 FIRE Cohort
« Reply #261 on: January 25, 2018, 08:38:19 AM »
A quick little update on me.

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

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

NorthernDreamer

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Re: 2030 FIRE Cohort
« Reply #262 on: January 25, 2018, 08:46:36 AM »
I am now hoping we can reach FI by 2027. That brings us down to under 10 years, yay! It will depend on side projects and passive income by then. DH might be able to transition to part-time or consulting work by or before then and we might coast a bit into it. Our kids are 3 and 5 so there are so many unknown variables with them right now. We'd be retiring right in time for orthodontics, so the OMY syndrome might kick in to get benefits. Or maybe by then Canada will cover dental work too! Since they just started covering medical prescriptions for anyone under 24. Then again, I have to remind myself that if we have the $1 million + I'd like to retire, the cost of orthodontics is a drop in the bucket, and could be also covered by a don't-get-bored side hustle. Doesn't mean we have to keep working our 9-5s.

Lanthiriel

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Re: 2030 FIRE Cohort
« Reply #263 on: January 25, 2018, 11:09:27 AM »
This thread is so interesting due to the broad range of stash goals. I like the introduction of the "x" factor to compare a little more apples to apples. It makes me realize that I talk about my net worth on these boards a lot, but very little about how that actually relates to my FIRE goals. We're currently 30 and 34 with a net worth (minus home value) of $180k. Our goal is to retire with $1.5M in the bank. We also hope to have a paid off property at that time or enough on hand to buy our "forever home" in cash after we travel for a while. We're hoping the housing savings happens somewhat organically over time as we pay down our current house and it (hopefully) appreciates, so we don't include this in our planning, but may have to readjust that line of thinking as we get closer to FIRE.

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

moonpalace

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Re: 2030 FIRE Cohort
« Reply #264 on: January 25, 2018, 11:48:46 AM »
Really great to see everyone's progress!

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

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

Cheers!

Erma

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Re: 2030 FIRE Cohort
« Reply #265 on: January 25, 2018, 01:12:06 PM »
I am still trying to figure out future spending. I assume our retirement spending will be higher than our current spending due to wealth tax and mandatory retirement contributions. I find this makes assumptions very hard. The saving part is much easier and working greatly since I learnt how to have an account with a broker.

NorthernDreamer

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Re: 2030 FIRE Cohort
« Reply #266 on: January 31, 2018, 09:58:25 AM »
I like thinking of it as how close to the 25x we are. Best guesstimates of how much we will be FIREing on, we are around 8x expenses. However, the final number is a moving target, so we could get there faster than expected. And hopefully not slower, though life happens sometimes.

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

change_seeker

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Re: 2030 FIRE Cohort
« Reply #267 on: March 20, 2018, 05:39:33 PM »
Chiming in to join the 2030 club!  I will be 50 that year and set it as our target at my previous employer where my salary was higher but my taxes were higher as well.  I've recently started a new job (in a state with no income tax!) and we bought a new home in a new town, so I need to buckle down and crunch some numbers to see what it will take to make it happen.  Seeing your updates will prod me into action!

haypug16

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Re: 2030 FIRE Cohort
« Reply #268 on: March 21, 2018, 06:28:26 AM »
Welcome change_seeker! Nice to see some action on this thread. With a long term goal like this (12 years to go!) it's good to see some postings to keep myself focused on the "end game"

haypug16

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Re: 2030 FIRE Cohort
« Reply #269 on: March 21, 2018, 07:55:54 AM »
@LWTG Nice job! It must feel so nice to pay off those 2 big debts. Nice monthly increase in NW as well. You're chugging right along and the momentum will definitely start picking up.

change_seeker

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Re: 2030 FIRE Cohort
« Reply #270 on: March 21, 2018, 10:06:50 AM »
@LWTG, you may have to update your username at some point. NQSALWTG? Not quite such a long way to go?  Nice work on the debt paydown!

BeautifulDay

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Re: 2030 FIRE Cohort
« Reply #271 on: March 21, 2018, 06:43:16 PM »
Based on Jan numbers
2017 - Stache at 1x 1.9 - But we bought a house in 2017 with those expenses (closing/down pmt/ moving) removed we were at 1.26
2018 - Stache at 2x 2.17
2019 - Stache at 3x
2020 - Stache at 4.5x
2021 - Stache at 6x
2022 - Stache at 8x
2023 - Stache at 10x
2024 - Stache at 12x
2025 - Stache at 14x
2026 - Stache at 16x
2027 - Stache at 18x
2028 - Stache at 20x
2029 - Stache at 22x
2030 - Stache at 25x

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

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

haypug16

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Re: 2030 FIRE Cohort
« Reply #272 on: March 22, 2018, 03:17:09 PM »
As a little update I'm hanging out around 1.24x Expenses (or 5% of my FIRE Goal). My 401K and other investments have been hovering around the same amount for the past month after they took a $2K drop and recovered about $1.5K of that. CCs will be paid off this month and then I'll be throwing the money that was going to pay that off into my Student Loans mostly but also partly into my 401K. Since my Student Loans have a 5.5% rate (or lower) I am OK will pulling back on the debt pay down plan a little in order to take advantage of tax breaks from the 401K plan. Long term goal is to have the Student Loans payed off by August 2021 so a little over 3 years. My "short-term goal is to get my Retirement balance to 2x expenses (or 8% of FIRE goal) by the end of this year. It'll be so nice when all the money I have going towards debt can be redirected to FIREing! Then I should hopefully see my investments really take off.

haypug16

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Re: 2030 FIRE Cohort
« Reply #273 on: April 13, 2018, 09:12:37 AM »
So for the heck of it and because well I love playing around with numbers I decided to add up the total number of working days until retirement. There are a few assumption.

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

Here's what I came up with;

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

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

VanteBoll

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Re: 2030 FIRE Cohort
« Reply #274 on: April 13, 2018, 07:01:35 PM »
I am glad I found this thread. I am new to the forum but have been researching and finding my financial discipline for almost 2 years now. I know knowledge gained from all you like minded people is going to help me tremendously.

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

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

VanteBoll

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Re: 2030 FIRE Cohort
« Reply #275 on: April 13, 2018, 07:30:56 PM »
2030 would be age 40 for me. My most recent calculations have me on pace to retire by 37, but I'm sure a little thing called "life" could easily push that date back 3 years. In on this thread and interested in tracking everyone's stories.

Do you use excel sheets to track your journey?

Livethedream

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Re: 2030 FIRE Cohort
« Reply #276 on: April 13, 2018, 07:55:03 PM »
Looking to join in on this long journey.

I am 31, married, two young kids.

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

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

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

Our goals:

Max out backdoor ROTH IRAS EACH YEAR

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

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

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

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

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



jtray

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Re: 2030 FIRE Cohort
« Reply #277 on: April 20, 2018, 09:45:01 AM »
Big changes in my life are:

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

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

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

haypug16

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Re: 2030 FIRE Cohort
« Reply #278 on: April 20, 2018, 10:07:40 AM »
Congrats on the job jtray.

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

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

FireHiker

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Re: 2030 FIRE Cohort
« Reply #279 on: April 20, 2018, 11:42:32 AM »
Haypug16, I did the same math you did, adjusting for the fact that I get a ridiculous 29 days of vacation per year. 2817 left for me, worse case, if I work thorugh 12-31-2030. We're really planning worst case to be mid-June 2030 but I was too lazy to do the math to adjust for that.

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

haypug16

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Re: 2030 FIRE Cohort
« Reply #280 on: April 23, 2018, 09:20:39 AM »
Haypug16, I did the same math you did, adjusting for the fact that I get a ridiculous 29 days of vacation per year. 2817 left for me, worse case, if I work thorugh 12-31-2030. We're really planning worst case to be mid-June 2030 but I was too lazy to do the math to adjust for that.

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

Glad I'm not the only one to do the math. 12/31/30 is also my worst case. I'm actually hoping to FIRE on my 50th birthday (12/20/2028) but haven't done that math. Now I have to go do that math. OK it's 2,438 for my stretch goal.

FireHiker

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Re: 2030 FIRE Cohort
« Reply #281 on: April 23, 2018, 10:27:58 AM »
Glad I'm not the only one to do the math. 12/31/30 is also my worst case. I'm actually hoping to FIRE on my 50th birthday (12/20/2028) but haven't done that math. Now I have to go do that math. OK it's 2,438 for my stretch goal.

I should do my stretch goal too...maybe later this week!

Guava

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Re: 2030 FIRE Cohort
« Reply #282 on: April 23, 2018, 10:44:46 AM »
I have kind of taken a little break from tracking expenses and  being really focused on money. Part of it is wanting to see how disciplined we are and part of it is because too much is going on. I feel like we are in a rut right now but I also feel like it is just a mental rut. We still are maxing our tax advantaged accounts but I had to drop our brokerage contributions to almost nothing to prepare for other things.

DH is a car guy and the car he has had for the last 16 years (and that is more than 50 years old) is starting to require some work to keep it in good condition.  Plus we are finally building a garage to store it in and we are having a baby. Seeing all of the cash that will be outgoing makes me question our ability to FIRE in 2030 or...ever. I think maybe I am just having some anxiety about spending lots of money though. Really we are only on track to save about $10k less this year than last year which isn't terrible.

Do big expenses ever make you doubt your ability to FIRE?

jtray

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Re: 2030 FIRE Cohort
« Reply #283 on: April 23, 2018, 03:49:44 PM »
I have kind of taken a little break from tracking expenses and  being really focused on money. Part of it is wanting to see how disciplined we are and part of it is because too much is going on. I feel like we are in a rut right now but I also feel like it is just a mental rut. We still are maxing our tax advantaged accounts but I had to drop our brokerage contributions to almost nothing to prepare for other things.

DH is a car guy and the car he has had for the last 16 years (and that is more than 50 years old) is starting to require some work to keep it in good condition.  Plus we are finally building a garage to store it in and we are having a baby. Seeing all of the cash that will be outgoing makes me question our ability to FIRE in 2030 or...ever. I think maybe I am just having some anxiety about spending lots of money though. Really we are only on track to save about $10k less this year than last year which isn't terrible.

Do big expenses ever make you doubt your ability to FIRE?

Yes! Seeing large amounts leave the account at once is scary! For bigger ticket yet one time expenses- it helps me to think that I am buying a well thought out quality item that will not have to be replaced soon, and has a low maintenance cost that will bring me value/joy/excitement everyday (or week or summer). You have a long term plan, this high expense time will be short lived as long as you stay on the path.

And when you accidentally buy something that actually is a waste of money - know everyone - literally everyone has done the same. We are all playing a long term game - get the basics right and everything else is just the bumps in the road.   

Guava

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Re: 2030 FIRE Cohort
« Reply #284 on: April 23, 2018, 04:32:35 PM »
I have kind of taken a little break from tracking expenses and  being really focused on money. Part of it is wanting to see how disciplined we are and part of it is because too much is going on. I feel like we are in a rut right now but I also feel like it is just a mental rut. We still are maxing our tax advantaged accounts but I had to drop our brokerage contributions to almost nothing to prepare for other things.

DH is a car guy and the car he has had for the last 16 years (and that is more than 50 years old) is starting to require some work to keep it in good condition.  Plus we are finally building a garage to store it in and we are having a baby. Seeing all of the cash that will be outgoing makes me question our ability to FIRE in 2030 or...ever. I think maybe I am just having some anxiety about spending lots of money though. Really we are only on track to save about $10k less this year than last year which isn't terrible.

Do big expenses ever make you doubt your ability to FIRE?

Yes! Seeing large amounts leave the account at once is scary! For bigger ticket yet one time expenses- it helps me to think that I am buying a well thought out quality item that will not have to be replaced soon, and has a low maintenance cost that will bring me value/joy/excitement everyday (or week or summer). You have a long term plan, this high expense time will be short lived as long as you stay on the path.

And when you accidentally buy something that actually is a waste of money - know everyone - literally everyone has done the same. We are all playing a long term game - get the basics right and everything else is just the bumps in the road.
You make great points. Thank you! This garage has been well thought out and we having been saving to build it for years. The price tag is a bit higher than we expected but we won't regret building it exactly the way we want. And there is something to be said for DH's happiness as well. Whether he admits it now, I know he would work for another year or two if it meant a lifetime of enjoying this garage. And I would gladly work five more years for his happiness and dream.

I also need to remember this was always part of the plan.

SustainableStache

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Re: 2030 FIRE Cohort
« Reply #285 on: April 23, 2018, 09:36:56 PM »
I want to come in here to share a net worth win. I try to calculate our net worth twice a year, once in October and once in April. I missed last October but I had encouraging news from 4/2017 to 4/2018... our net worth increased $57,800 (from $109,100 to $166,900). By all calculations, I think we're on track for a comfy retirement by 2030. Waiting somewhat impatiently for our two boys to get out of $$$ daycare so we can really start seeing the needle move :)

Lucky Recardito

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Re: 2030 FIRE Cohort
« Reply #286 on: April 26, 2018, 04:16:00 PM »
Well heck. I just went down a very pleasant rabbit hole reading several pages of the 2018 Cohort thread (it's very celebratory and jovial over there -- highly recommended) and found myself jealous of the camaraderie. A little poking around, and here y'all are!

Adding myself to this group -- my husband and I don't have anyone in our IRL friend group to share this FIRE goal or compare notes with, so I'll look to you!

Current status: me 35, him 34, HCOL area where we plan to stay indefinitely, so our goals aren't tiny. Currently DINKs; looking to add a child to the mix. We are frugal in some ways and spendy in others (and are generally comfortable with that). My current projections actually have us peace-ing out of the workforce in 2032 (ages 49/48), but it's far enough away that I feel cadging on to this group is fair. Stash goal is ~$1.5M (25x $60K) + a paid-off house (or, more likely, the payoff equivalent in additional fungible assets); as of the end of March 2018, we're at a stash of ~$260K + ~22% equity in our home (which we just purchased in 2016).

Our savings rate was around 50% last year and should be a skosh higher this year; beyond that, more is uncertain because, you know, LIFE. Factors that could get us to our goal faster include pay raises/job changes/bonuses (which I've completely ignored in my estimates for now), good stock market returns (I use 5% in my estimates and don't adjust for inflation), increasing our savings rate once we get more settled in our house (we're admittedly spending quite a bit this year to get the space set up the way we want it, and my estimates assume we keep that level of spending going indefinitely, which is probably not actually true), and perhaps a smallish inheritance or two (also not calculated in). Factors that could set us back include unexpected unemployment or voluntarily (or involuntarily) trading down to lower-paying gigs, IVF or adoption expenses (the adding of the desired child has proven to be more difficult than expected thus far), unexpected child-raising expenses (daycare is factored into my estimates, as is providing ~$100K toward higher education... but expensive violins or Olympic-level ski jump training or serious health/developmental needs aren't considered), or any manner of unpredictable health calamities for DH and myself.

Greetings, all!

HappierAtHome

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Re: 2030 FIRE Cohort
« Reply #287 on: April 26, 2018, 06:01:27 PM »
Welcome Lucky Recardito! I recognise you from another group thread ;-)

Lucky Recardito

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Re: 2030 FIRE Cohort
« Reply #288 on: April 27, 2018, 07:50:44 AM »
Welcome Lucky Recardito! I recognise you from another group thread ;-)

One reason for jumping in here was recognizing some friendly faces. ;-)

haypug16

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Re: 2030 FIRE Cohort
« Reply #289 on: April 27, 2018, 08:20:21 AM »
Welcome Lucky! and I agree, the 2018 Cohort is a fun place to visit but I do get a bit jealous of all the people reaching FIRE! but on the positive side I'm down to 2,899 working days left ;) Someone posted a list w/links to all the Cohorts out there. It's one of the pinned threads under "Welcome and General Discussion". There's one for every year up to 2030 and then it's every 5-10-20 years. Though I don't think anyone has seriously joined the 2065 Cohort.


Guava

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Re: 2030 FIRE Cohort
« Reply #290 on: April 27, 2018, 04:23:35 PM »
Well I am a borderline high risk pregnancy (will probably be high risk by my next appointment) which means I am  probably going to have to pay to do some more things around the house. I am only supposed to lift 5-10 lbs tops and no exercise or anything fun and productive. The good news is that I get to see lots of pictures of my little peanut and insurance has to cover the ultrasounds. My work is also very supportive and upper management offered to do all of my lifting since I work with physical parts that are heavy.

Even better, assuming I end up on bed rest at some point which is increasingly likely, I will get 100% of my pay for 10 weeks then 2/3 for the remainder. This has really helped my anxiety about spending so much money because I know I will still have a good income coming in.

After a bit of doubt, feeling good about 2030. Life throws things at you sometimes and you have to figure out how to see the bright side. I have a long time to make up for building a garage and paying someone to do drywall while I can't and for the extra medical bills. And the good thing is that even if I miss 2030 and land at 2035 I am still going to retire young an early. Re-reading this thread has helped me see all of this so thanks guys.

Lucky Recardito

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Re: 2030 FIRE Cohort
« Reply #291 on: April 28, 2018, 01:36:10 PM »
Well I am a borderline high risk pregnancy (will probably be high risk by my next appointment) which means I am  probably going to have to pay to do some more things around the house. I am only supposed to lift 5-10 lbs tops and no exercise or anything fun and productive.

This is 100% reasonable, 100% temporary, and just a blip on the radar. All the positive spins in your post are the right spins; don't feel bad about hiring in help right now, even for a second! (And here's hoping your health stays as good as it can during this time!)

rebel_quietude

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Re: 2030 FIRE Cohort
« Reply #292 on: April 29, 2018, 03:00:13 AM »

After a bit of doubt, feeling good about 2030. Life throws things at you sometimes and you have to figure out how to see the bright side. I have a long time to make up for building a garage and paying someone to do drywall while I can't and for the extra medical bills. And the good thing is that even if I miss 2030 and land at 2035 I am still going to retire young an early. Re-reading this thread has helped me see all of this so thanks guys.

Delayed retirement because of med expenses: A few thousand.
A beloved child to give you grandbabies to spoil with affection when you're 80: Priceless.

Excited for you, Guava. Good luck and good health!

HappierAtHome

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Re: 2030 FIRE Cohort
« Reply #293 on: April 29, 2018, 04:19:51 AM »
Congratulations @Guava on your pregnancy. This is what money is for! I had hyperemesis during pregnancy (on "couch rest" pretty much the whole pregnancy) and it was great not to have to worry about money at all during that time.

MrOnyx

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Re: 2030 FIRE Cohort
« Reply #294 on: April 30, 2018, 06:33:43 AM »
I jokingly said to my dad a little while ago that 35 would be my age target and, as it happens, that would make 2030 my FIRE cohort year.

However, I made that comment a little bit before realising that a lot of MMM's optimism comes from the very large American salaries that we just don't have in the UK quite as readily. At least not in myself personally. I just graduated uni with some non-urgent British student debt. I've got a few years ahead of me where I can probably save close to 90-100% of my sub-£20k job and throw it into a Vanguard LifeStrategy fund (or something similar on the UK Vanguard service) before I'll have to look at moving out, at which point my expenses will climb quite a bit (hopefully my salary will too, by that point!) I say it a lot; I'm glad to have had that light switch flicked on so early, but I'm a bit daunted now by the lower incomes here. I think I can still do it. I'm determined.

I'm leaving this post here such that maybe I can come back some day and say, "Hey, I actually will/did make it into the 2030 cohort!"

It may be a bit of an optimistic goal, especially with this revelation in mind, but I have crossed fingers, and a head topped up with frugality as a core mindset going forward. Let's do it!

Anatidae V

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Re: 2030 FIRE Cohort
« Reply #295 on: April 30, 2018, 06:45:27 AM »
MrOnyx, even if you don't hit 35/2030, you're still going to do so much better than average! That can be hard to remember floating around the forum.

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!

I've really enjoyed reading everyone's successes and life updates :)

MrOnyx

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Re: 2030 FIRE Cohort
« Reply #296 on: May 01, 2018, 07:13:10 AM »
Congrats, @Anatidae V! And thanks for the positivity.

It's probably best to enjoy the journey and for now, not worry too much about the details of the destination. There are those that like to calculate everything in advance to a perfect science - considering every possible bump in the road and factoring that in to their master equation. While I respect that not everyone is the same as me, I think it's important not to get too hung up on that sort of thing if doing so takes you out of the here and now.

This isn't directed at anyone in particular, and it's not as though I read a specific post in this thread that caused me to write all of this. I just carried on from the positive vibe, started typing and it all kinda came out!

Enjoy the ride, guys! Dream of the future, but don't analyse it any more than you have to/are comfortable doing. :)

haypug16

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Re: 2030 FIRE Cohort
« Reply #297 on: May 15, 2018, 09:25:35 AM »
Up to 1.28x expenses as of today. I increased my 401K to 8% this month and will increase again next month probably to 10% and see how that goes. Goal for the end of the year is to hit 2x expenses. I've got a ways to go but I think I can do it.

MrOnyx

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Re: 2030 FIRE Cohort
« Reply #298 on: May 15, 2018, 09:28:38 AM »
Up to 1.28x expenses as of today. I increased my 401K to 8% this month and will increase again next month probably to 10% and see how that goes. Goal for the end of the year is to hit 2x expenses. I've got a ways to go but I think I can do it.

That's great! You're done then, right? You're independent! Any extra is a safety margin, which I guess is what you're going for. That or luxury, but I'll let you answer that (or not)! :D

Anecdotally, the case studies I've read (on MMM) say that your expenses drop after you retire. If that's the case, you're doubly done, right? I'm hoping someone more experienced might chime in in case I'm missing something.

haypug16

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Re: 2030 FIRE Cohort
« Reply #299 on: May 15, 2018, 09:41:23 AM »
Up to 1.28x expenses as of today. I increased my 401K to 8% this month and will increase again next month probably to 10% and see how that goes. Goal for the end of the year is to hit 2x expenses. I've got a ways to go but I think I can do it.

That's great! You're done then, right? You're independent! Any extra is a safety margin, which I guess is what you're going for. That or luxury, but I'll let you answer that (or not)! :D

Anecdotally, the case studies I've read (on MMM) say that your expenses drop after you retire. If that's the case, you're doubly done, right? I'm hoping someone more experienced might chime in in case I'm missing something.

Nope not done I need 25x expenses to be done. I got a looooonnnng way to go.