2030 FIRE Cohort

[Much Fishing to Do]

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]

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]

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.

[lcmac32]

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.


         

       

[pressure9pa]

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]

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!

[Steeze]

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]

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.

[BeautifulDay]

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 didn’t like it. Now, slowing down and having more options still sounds very nice.

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

As of Dec 31st  — 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

[dogboyslim]

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]

End-of-year update

		Projected		|		Actual
Year	Net Worth	Investments	% to FI	|	Net Worth	Investments	% to FI
2018	-	-	-	|	60.9k	19.8k	1.3%
2019	-	-	-	|	136.9k	80.4k	5.6%
2020	203k	134k	9.4%	|	227.8k	149.5k	11.1%
2021	284k	198k	13.7%	|
2022	371k	268k	18.2%	|
2023	484k	347k	23.2%	|
2024	594k	435k	28.7%	|
2025	713k	534k	34.8%	|
2026	848k	646k	41.4%	|
2027	997k	770k	48.7%	|
2028	1.162m	909k	56.7%	|
2029	1.344m	1.064m	65.4%	|
2030	1.545m	1.237m	74.9%	|

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]

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]

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.

[haypug16]

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]

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]

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]

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.

[soulpatchmike]

I have been on a '58' plan for the past 4-5 years which puts me on FIRE at 2032, but as the years have progressed and the financial situation changes I am confident enough to join the 2030 FIRE Cohort beginning a new '55' plan.
Current NW projections - As of today 990k
2021 - 1,074k - Stache $450k
2022 - 1,208k - Stache $531k
2023 - 1,334k - Stache $620k
2024 - 1,466k - Stache $619k(paying off first rental mortgage)
2025 - 1,637k - Stache $756k
2026 - 1,827k - Stache $786k(paying off second rental mortgage)
2027 - 2,048k - Stache $973k
2028 - 2,276k - Stache $1,032k(paying off third rental mortgage)
2029 - 2,518k - Stache $1,221k
2030 - 2,777k - Stache $1,223k(paying off last primary mortgage)

[mwulff]

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.

DINKs here, biological problem... We live in an LCOL but have high incomes so my decision to join the 2030 cohort is simply to set an end date for me to actually walk out the door. We would be fine without my salary, but I need something productive to do with my time. :)

[x02947]

Hi folks!

Sorry I'm a bit late updating-- been surprisingly busy as of late with all the new hobbies I've taken up.

I find it interesting to see how different people track their progress.  Some use a withdrawal rate %, others use a % to the number, others just have straight numbers.  It just re-emphasizes to me how many different ways there are at looking at things!

My savings are about a year ahead of schedule, which was not surprising given the above average stock market lately.  I have no doubt that will even out at some point in the next decade.  My excel-given best-fit equation for my savings growth puts me at 9.5 years, so that's a nice sanity check. 

My HSA is a bit behind though-- we had to go off it last year and had some unexpected medical expenses.  Oh well.  That's what it's for, right?

Talk of downshifting to part time has been put on hold until office-work gets back to normal--I've been 90% teleworking since last March, and it looks once COVID dies down they will still let us telework 2 days/week (as opposed to the previous policy of not at all whatsoever). 

[LipFoliage303]

I haven't visited these forums in a long while. I kind of burned out on the board once I had optimized my expenses and put savings on auto-pilot. That being said, it's been an absolute blast checking in on the forums today and I'm excited to join the 2030 cohort. I'll set a reminder to check in with y'all once a quarter or so.

Re 2030: I turn 50 in 2031 and I feel like retirement will be more FI than FIRE because I absolutely love my job and the impact it makes on society. I just see myself doing it part time for myself or as a member of an advisory board. Hard pass on the TPS reports and all that other bullshit.

My investable assets, the stash, totals about $110,000 and my goal is $1,000,000. I max out my 403b each year and I'm starting to fill up the TradIRA bucket. I also bank half of every raise.

Good luck to everyone else on their journey!

[Aelias]

So, I'm puttering around my house yesterday, working from home and whatnot.  And my husband, also working from home, casually brings up, "Hey, I was getting stuff ready for the tax guy last night.  Wanna know how much money we have?"

I'm like, "Sure."

"[UNGODLY LARGE NUMBER THAT IS 55% OF OUR FIRE NUMBER]"

I pause. "I think I gotta sit down a minute."

"Yeah, looks like we made 10% in the last five months. By my calculations, I think we're done in 7 years."  Engaging Data's When Can I Retire calculator actually says just under 6, but who's counting?

So then we started outlining the basic contours of a drawdown plan. 

I'm a little embarrassed to share the real number, given that our frugality skills are weak compared to others here.  But I think the big win is that my husband, who initially didn't even want to consider FIRE as a possibility, is really bought into it now.  A lot of that is just me going along with a much higher number that I would choose on my own, but y'know what?  I'd rather be working and married than FIREd and divorced.

Childcare is finally coming back in our area, so work is starting to suck a little less. I do feel like I've found this new phase past Fuck You Money -- Don't Fuck This Up Money!  This job is good enough, and I don't feel like starting over somewhere else.  I really want to just keep my head down, do my job, and not get fired for the next 6-7 years.

[aceyou]

So, I'm puttering around my house yesterday, working from home and whatnot.  And my husband, also working from home, casually brings up, "Hey, I was getting stuff ready for the tax guy last night.  Wanna know how much money we have?"

I'm like, "Sure."

"[UNGODLY LARGE NUMBER THAT IS 55% OF OUR FIRE NUMBER]"

I pause. "I think I gotta sit down a minute."

"Yeah, looks like we made 10% in the last five months. By my calculations, I think we're done in 7 years."  Engaging Data's When Can I Retire calculator actually says just under 6, but who's counting?

So then we started outlining the basic contours of a drawdown plan. 

I'm a little embarrassed to share the real number, given that our frugality skills are weak compared to others here.  But I think the big win is that my husband, who initially didn't even want to consider FIRE as a possibility, is really bought into it now.  A lot of that is just me going along with a much higher number that I would choose on my own, but y'know what?  I'd rather be working and married than FIREd and divorced.

Childcare is finally coming back in our area, so work is starting to suck a little less. I do feel like I've found this new phase past Fuck You Money -- Don't Fuck This Up Money!  This job is good enough, and I don't feel like starting over somewhere else.  I really want to just keep my head down, do my job, and not get fired for the next 6-7 years.

Yep, FIRE has given me a similar mental framework...instead of fuck you money, my extra stache makes me think...ok, keep your head down and dont get distracted by other shiny looking job options, I've already won the game, just gotta wait for the game clock to flash zeros:)

[boardCertifried]

I'm 40k in the hole right now (student loans), but still hopefully part of the 2030 FIRE cohort. I'll be 32 at the start of the new decade. Will probably continue to work, but very into FI for the feeling of freedom.

[Steeze]

I'm 40k in the hole right now (student loans), but still hopefully part of the 2030 FIRE cohort. I'll be 32 at the start of the new decade. Will probably continue to work, but very into FI for the feeling of freedom.

Congratulations on starting your journey and welcome! Wish I had that vision at your age. Best of luck!

[Em-Dog]

2030 is our goal also, but like some others here it's a stretch goal. We'll be 38 and 39 at the end of 2030 but I feel like there are a lot of variables between then and now, like having kids, moving, new jobs, etc. However I want that FI really bad so we're off to the races! The other variable; I have a rough FI number of $1M but I figure once we actually start getting close to that we'll need to figure out the actual number, for now I think it's enough to try and save as much as possible.

Assuming $1M FI number we're at about 5x annual expenses right now.

Let the journey continue, good luck everyone!

[rebel_quietude]

Hello, friends! It's awesome to see new faces around here! I'll probably wait until the new year to do another roll call, but I'm still keeping track and excited to tally our cohort 9-years out! My initial suspicion is a lot of folks will actually retire far sooner than they expect. Welcome most recently to @Em-Dog , @boardCertifried and @Finances_With_Purpose , and @LipFoliage303 !

I've come to the realization that if it were just me, I'd be within spitting distance of FI. My original goals in 2011 were for $40k in passive income and $250k for a house. However, I'm about to put some eggs on ice in hopes of having kids one day, and I move almost every year for work. Any FIRE budget a known unknown - I'll likely look at my numbers in 2030 and derive a budget from that.

The stash has given me the flexibility to prioritize things I care about. I feel that with my numbers I can reasonably try to be a mom without worrying about how it will complicate my career, or lack of a partner's income. Still a few years out, but pressing now at 35 in ways it didn't seem before. (I mean, I'd be trying at 38, so . . .we'll see how it goes). It's interesting to me how much conversation on here is about kids. Seems to be on top of everyone's mind when they determine their budgets. It's certainly a causal factor in mine.

Other news: undergoing a career shift I'm pretty excited about. It'll entail learning a new language, living internationally, and getting a grad degree. I'm not sure I would have lasted another 10 years in my old field, but now I'm committed to around 2026  - which makes retiring before 2030 look pretty silly since that's the beginning of pension and health care. If I time this right, I could retire just when thus-far-hypothetical kids no longer require daycare expenses.

Most of the time I'm excited. Sometimes . . . I look at the stash and ask why I'm still working. COVID has reminded me that I don't do well on the couch, but sailing around the world looks pretty appealing!

[Eco_eco]

Hello everyone

Just a quick note that I’m leaving the class of 2030 to head down to the class of 2024.

Essentially we have had a great couple of years financially and now I’ve started to actively plan for life after full time work another nine years is too far away. Since I really enjoy my work my plan was to fat fire in 2030 at age 54. Now my job has changed a fair bit and I’m enjoying it less, also our fat fire number is on track to come along several years earlier than planned. Fat fire for us = income from investments equivalent to our current annual spend, plus an additional 50% as a safety buffer and for travel and to give the kids.

If your interested our breakdown is:
Current NW: 33x required income
Current Investments: 15x required income (hence the need to wait three more years, too much of our wealth is in our home, but we like the place and have no desire to move)
Sources of passive income: 75% rental property, 24% index funds, 1% crypto. Over the next few years we will invest our new savings into crypto and index funds to balance things out. I would like to end up with 50% property, 45% index funds, 5% crypto.

My plan is:
2021 - keep working as usual
2022 - keep working as usual
2023 - work as usual but take a 14 week paid sabbatical - use this as a mini retirement test
2024 - set up the retirement pay check, perhaps drop work down to four days a week, by December - leave regular employment.

By the end of 2024 I will be 48 years old, my kids will be 13 and 14 yrs. I will have been working in full time employment for 25 years. I will also have been working for at least 20 hours a week for 32 years (since I was 16 yrs old). I recon that’s long enough 😀.

[Em-Dog]

Thanks @rebel_quietude I love your attitude! Thanks for sharing your journey, it's really helpful for those like me who are just starting out (and 9 years seems like forever!) to see others on their way! I know the time will fly by and as long as we stick to the plan we'll get there. Best of luck on your new career and potential future kids, keep us posted!

Congrats @Eco_eco best of luck on the RE part!! I'm glad the FI part is allowing you to leave a job that's less than optimal, that's what it's all about!

[Rural]

Still here for 2030. I rediscovered this week that as long as I'm working between now and pension eligibility in 2030, my husband gets employee health insurance paid by my employer plus a pension starting immediately if something were to happen to me, not to mention my life insurance, which is through my employer. We're both vaccinated now, but catching Covid would almost certainly have killed me, so that sort of thing, unpleasant as it is, is still on my mind, especially since he's still working part-time without benefits.


Things may change, especially depending on what happens with health care in the US, but for now the golden handcuffs have me. It could be worse.

[Sanitary Stache]

Calculated my liquid assets today (I think of this as cash and index funds) and we are about 3 years ahead of my projection (from January).  My investments are claiming to have increased 26% and we got a bunch of cash from the pandemic relief stuff. At least the investment will revert to the mean sometime, so I wont change my projections yet.

I set up a spreadsheet to track how savings compares to projections over the years and to track how my projections change year to year.

[RunningintoFI]

I feel like this train is roughly the one to jump on for a realistic FIRE. 

Current NW is ~$250k and liabilities are $0 if we don't include the relocation package that I'd have to pay back if I left my current employer within the next two years. 

Putting in about $3300/month between 401k, HSA, Roth IRA and taxable accounts so this train is moving along nicely now. 

I'll be 40 in 2030 and a part of me really wants to be retired before 40.  So let's call it December 2029 FIRE Cohort for some small personal motivation... 

[Eco_eco]

Calculated my liquid assets today (I think of this as cash and index funds) and we are about 3 years ahead of my projection (from January).  My investments are claiming to have increased 26% and we got a bunch of cash from the pandemic relief stuff. At least the investment will revert to the mean sometime, so I wont change my projections yet.

I set up a spreadsheet to track how savings compares to projections over the years and to track how my projections change year to year.

This dramatic jump up happened for us as well, our current capital is at the level I had forecasted for 2024.

This is why I was fairly confident in dropping our target date to 2024. While I expect some reversion to the meani- particularly in terms of lower returns in future years, I’m doubtful that there will be a sustained -25% correction in the short term. I think it’s more likely that the downside risk comes from inflation, which could grow and outstrip investment returns for a period. Regardless I expect that our capital will compound at its new level.

[duellingbanjos]

Dipping my toes in here.. my plans will be in flux so I figure 2030 is a good date as any.

I'm 39, sole income HH with two kids. The main variable factor is the kids' educational pathway and what it would cost. Conservative FATFIRE figure that I'm comfortable pulling the plug on is 55x annual spend (to pay for private college costs if ever needed).

Current NW = 15x annual spend
Projected NW in 2025 = 26x annual spend
Projected NW in 2030 = 55x annual spend
Projected NW in 2032 = 66x annual spend

[MillerM]

We are hoping for the 2030 - 2032 time frame.  I may have a problem with too much of our money tied up in retirement accounts that we cannot access until 59 1/2.  Most likely I will not stop working in 2030, but have some flexibility to do something less stressful.

I'm 44 and the wife is 43.  We have two kids, aged 10 and 8.

Net Worth: $720,000

401K $282,000
IRA $163,000
Roth 401K (Wife) $48,000
529 (10yo) $24,000
529 (8yo) $21,000
Total Investments $538,000


Cash $27,000
Home Equity $155,000

Our only debt is $98,000 left on the home mortgage.  It should be paid for in 6 - 8 years depending on extra payments. 

Overall, we are quite pleased with our progress.  My wife will have the option to retire from her job and draw a pension once she reaches age 50 or older so that will help us coast until access to retirement accounts.  Also, her 401k is a Roth so the personal contributions will be accessible.

The cash is saved up as both of our vehicles are 2006 models with 215k miles on mine and 250k miles on her so we are on borrowed time there.

I've considered dropping my 401k contribution to the minimum to get the full company match and using the money to fund Roth IRA's but I think our current income and tax bracket are as high as they'll ever be so I'd hate to pay taxes on the money now when I can defer them until retirement when our income needed to meet expenses is likely to be lower.

[DadJokes]

We are hoping for the 2030 - 2032 time frame.  I may have a problem with too much of our money tied up in retirement accounts that we cannot access until 59 1/2.  Most likely I will not stop working in 2030, but have some flexibility to do something less stressful.

https://www.madfientist.com/how-to-access-retirement-funds-early/

[joemcd333]

I'd like to come aboard!

500K NW, about 300K invested currently.

Lets have a good 10 years and enjoy the journey!

[Steeze]

I'd like to come aboard!

500K NW, about 300K invested currently.

Lets have a good 10 years and enjoy the journey!

Welcome to the Cohort & to the forum! Congrats on a great head start!

[TomTX]

We are hoping for the 2030 - 2032 time frame.  I may have a problem with too much of our money tied up in retirement accounts that we cannot access until 59 1/2.

There are multiple ways to access retirement accounts before 59 1/2. "Cannnot" is incorrect. Some methods even avoid the 10% early withdrawal penalty. For some people (say high earners in CA who move to Texas in retirement) - simply paying the 10% still means tax advantaged versus a taxable account both due to Fed and state income tax being progressive (and zero in Texas).

Here's a good overview and analysis of the common approaches:

https://www.madfientist.com/how-to-access-retirement-funds-early/

[LipFoliage303]

Here's my somewhat quarterly check in: I'm 12.0% of the way to FI. Let's keep on truckin'.

[Jules13]

Hello!  I *think* we are in this Cohort, but my question is....what is everyone's fave way to track your progress??  I use the Budgets Are Sexy spreadsheet, but I've also plugged in our numbers to various other calculators and get different estimates. 

Also, what ROI % do you typically use?  8% or something more conservative?  I've been tracking numbers and reading PF blogs for YEARS, but still doubt myself.

Thanks!
Jules

[Steeze]

Hello!  I *think* we are in this Cohort, but my question is....what is everyone's fave way to track your progress??  I use the Budgets Are Sexy spreadsheet, but I've also plugged in our numbers to various other calculators and get different estimates. 

Also, what ROI % do you typically use?  8% or something more conservative?  I've been tracking numbers and reading PF blogs for YEARS, but still doubt myself.

Thanks!
Jules

I use my own spreadsheet in googlesheets, I use 6% return (above inflation) for my projections over long periods (30+ years); from now until 2030? I would guess 0% +/- 10%. My portfolio is 80/20

[Sanitary Stache]

I made a google spreadsheet that I update every year.  I guess at a budget for each year based on my current budget and planned future expenses (summer camp, vacations, pet replacements) and savings. Then I give my investments a 7% growth per year and run it out 30 years. 

I update with my income changes and actual account balances at the beginning of each year and run it out again.

If we don't get 7% per year from now until 2030, then we probably will have to work more, but I am planning for the mean.

[LipFoliage303]

I'm 100% vtsax and I'm using a 6% nominal return from now until 2030. I update a Google sheet once a year with my salary change and actual account balances.

[Steeze]

I admire you guys for only doing this once a year. I check mine most days the market is open, and update it monthly, sometimes two times per month.

[LipFoliage303]

Hahahaha oh I check Personal Capital about 3 to 3 dozen times a day. I don't do social media so it's a mindless thing I do on my phone when waiting around. I only do the FIRE projections once a year or so.

[Sanitary Stache]

I’m in the race to 250k so I sum my account balances once a month or so.
I also update my monthly budget with DW every month and review the previous months expenses then.
I’m as close as I can get to 100% VTSAX. Using the S&P index fund when total stock market isn’t available.

[dreadmoose]

My projections use 9% return with 3% inflation (so 6).

I have a spreadsheet with all my accounts linked to the stock data type in excel... I click refresh on that no less than 5 times per day just to see what the market is doing...

I run projections when I'm bored at work (often).

[401Killer]

Updated!

42y/o SINK.

NW = $702k
Invested = $470k ($439k 401k - $32k Roth)
House Value = ~$234k
Cash = $23K
Debt = $-36k House

Crazy to see what I was when I posted in May of last year. Oh how things go up!! Broke $700k this week but that's mainly due to the crazy bump in house values that are going on right now. But still fun to see.

2030 may need to be changed to something a little earlier. lol

[Jules13]

Ah, okay....I think I should have asked about calculating projections vs tracking growth.  How do you calculate and how do you know your projections are correct and that you will meet your goal in a specific year? (I mean if all goes according to plan...I know nothing is guaranteed).

For example, the spreadsheet that I use (from the Budgets are Sexy blog) projects we will reach FI (2 mil) in 9 (2030) years using 6% ROI.  But other calculators I have used gives different results, ranging from 1.5 to 1.9. (I'm waiting for Personal Capital to fix the 401k link so I can look there).  All of these varied results just make me doubt myself.  I know we are doing okay, but trying to find the best calculator or spreadsheet so I can play with numbers and know if/when we can reallocate, if necessary, for upcoming college expenses.

We have $952k currently in retirement savings.  We add $40k each year (this includes the match amount) and use 6% ROI.  I use my husband's age of 49 and 58 as a retirement age if I'm figuring it that way.  Or 2 million as the FI goal. 

Thanks for any advice!!!
Jules