Race to 100% FI! (With a Poll added to track your progress!)

[SwordGuy]

I'm so tickled to see so many people making important progress in their races!   Go team!

[fuzzy math]

Moved up to a bracket that gives me an option of FIRED or NOT FIRED! Seems weird that anyone would FIRE at 80-90% of their target spend

[SwordGuy]

Moved up to a bracket that gives me an option of FIRED or NOT FIRED! Seems weird that anyone would FIRE at 80-90% of their target spend

Some people feel lucky.

[TyGuy]

Been lurking for a while, expenses have been all over the place for the past few years due to moving and buying a house, but I now feel comfortable with my yearly expense report and have determined the net worth I will need to be FIRE:


*First % is without a mortgage payment, second % is with current mortgage payment (13.5 years left at 1.75%)*

September 2021: 8.02%;  4.78%





I look forward to tracking my progress here with you all!

[JAYSLOL]

Moved up to a bracket that gives me an option of FIRED or NOT FIRED! Seems weird that anyone would FIRE at 80-90% of their target spend

Or could be someone hit their target number, fired and then for one reason or another their spending or savings were affected by something they didn’t account for and are now in the position of being retired with less than they planned for

[Steeze]

Moved up to a bracket that gives me an option of FIRED or NOT FIRED! Seems weird that anyone would FIRE at 80-90% of their target spend

Or could be someone hit their target number, fired and then for one reason or another their spending or savings were affected by something they didn’t account for and are now in the position of being retired with less than they planned for

Yeah - once I am within ~80% target then I could see a CoastFI arrangement. DW and I would need to work 2-3 days a week ea. at $15/hr to close the gap. Once I could conceivably teach snowboarding or work front desk at the rock climbing gym on weekends and maintain my lifestyle then I might pull the plug on the 8-6 corporate gig and call myself "FIRE" even though I am not really FI or retired - just would need to coast a few years until the stash catches up. I kinda plan on doing this anyway, if for nothing other than the social interaction and routine, even if I am 100%+ FI.

[TyGuy]

Happy to have an increase with the market downturn and unexpected expenses last month!


*First % is without a mortgage payment, second % is with current mortgage payment (13.5 years left at 1.75%)*

September 2021: 8.02%;  4.78%
October 2021: 8.19%; 4.88%


I would love to reach 10% (FI without a Mortgage) by the end of the year, we will have to see how the next few months turn out!

[Lucky Recardito]

10/1/2017: 15.5%
10/1/2018: 19.6%
10/1/2019: 22.9%
10/1/2020: 30.0%
06/1/2021: 41.9%

10/1/2017: 15.5%
10/1/2018: 19.6%
10/1/2019: 22.9%
10/1/2020: 30.0%
10/1/2021: 44.0%

... for the sake of evening up my stats on an annual cadence.

[TyGuy]

10/1/2017: 15.5%
10/1/2018: 19.6%
10/1/2019: 22.9%
10/1/2020: 30.0%
06/1/2021: 41.9%

10/1/2017: 15.5%
10/1/2018: 19.6%
10/1/2019: 22.9%
10/1/2020: 30.0%
10/1/2021: 44.0%

... for the sake of evening up my stats on an annual cadence.

Up 14% this past year, that is amazing to see!

[Lucky Recardito]

10/1/2017: 15.5%
10/1/2018: 19.6%
10/1/2019: 22.9%
10/1/2020: 30.0%
10/1/2021: 44.0%

... for the sake of evening up my stats on an annual cadence.

Up 14% this past year, that is amazing to see!

Yes, the market has been bonkers and very kind to us (the month of September notwithstanding). TBD what happens in the future, of course! But enjoying the ride at present...

[SotI]

Ok, I am about to reach 45% FI based on my previous metric.

However, I decided to recalcuate my target FI number based on the fact that my work contract has changed to allow me to retire by end of 2025 instead of 2029.

If I factor this in, my necessary stache requirement would drop a bit, as corp pension and state's pension together would cover a large part of my expenses.  I would be almost 60% "there" (58.9%) with current stache.

However, me being risk-averse, this freaks me out a bit, as this implies also the dependency on corporate pay-off as well as state's pension. I mean it's great to have both to hopefully come in as planned, and with no major disaster, this will work out great.

Still, in order to have a full fallback planned,  I will change my counting metric here to "fully independent from state/corp pension". With this in mind, I will slide back to the 30% range.

[SwordGuy]

I fully understand your unwillingness to fully trust a corporation to properly fund its pension plan.

[Zamboni]

It's a moving target . . . both due to economics and due to my fluctuating personal life and life goals.

For example, I used to want to travel a lot. So I've done that. Now I'm kind of tired of it, although slow travel still has some allure. So do I need extra stash for extra travel . . . or not? I'm just not sure anymore.

My health-related bills have gone up over time. Another area of moving target in my life.

[SwordGuy]

It's a moving target . . . both due to economics and due to my fluctuating personal life and life goals.

For example, I used to want to travel a lot. So I've done that. Now I'm kind of tired of it, although slow travel still has some allure. So do I need extra stash for extra travel . . . or not? I'm just not sure anymore.

My health-related bills have gone up over time. Another area of moving target in my life.

We just handled it by having a solid cushion in our budget in the first place and planning on having fairly low fixed expenses.   Fairly low by regular standards (paid off house and cars, no debt, etc.), not by the much lower spending standards by some on this blog

[MudPuppy]

Up 20% now from 10ish last year. Doubled sounds nicer!

[monarda]

Changing my number and my poll vote again because I see an error in my rental income spreadsheet -  I've double deducted my rental insurance premium- whoopsie. And I put in this year's rental expenses, which are lower than last years' and are more typical of a normal year's expenses. Fixed that and now at 102%. Whaddaya know. Hasn't sunk in quite yet.

We just did a cash-out refinance because next year is going to be an expensive year for the rentals (roof, paint job, sewer). We're temporarily at 107% now, but after all of those 2021 expenses** we'll dip down below 100% and need to build reserves back up. Hoping by 2022 to be back where we are now.
 
**But then all three houses will have a new roof and fresh paint, so we shouldn't have big expenses for quite some time after that.

Well, all of expensive 2021 is paid. We just did yet another cash-out refi. 2.25% loan!! (15Y)

And surprisingly, we're now at 116% and not FIRED, but I did switch down to part-time at work this month.
So partially RE'd?

[haypug16]

Just crossed over into the 20% range :D 1/5 of the way there. The next 20% should be much quicker too.

[maisymouser]

At ~22.2%, but am BURNING to get to 30%. That 100% feels so far away when I put it in % form, but hopefully compounding works in my favor within the next decade (the working-to-earn-and-save and frugality are a given). I am stretching for FI by 2029.

LETS DO THIS...!

Came back to update, a little over two months later I am surprised to find I went quickly to 26.0%. A modest bonus helped, and I was promoted recently and am earning ~8% more. When we send our son back to preschool things are sure to slow down, but I am feeling good today about where I'm at.

March 2021: 22.2%
May 2021: 26.0%
August 2021: 27.7%

Yep, things slowing down. No longer renting out a room in our house, and son is back in preschool- so growth has slowed as expected. Both good changes though! And some growth >>> no growth.

Yearning to change my vote and join the 30% club! Will get there soon enough :)

March 2021: 22.2%
May 2021: 26.0%
August 2021: 27.7%
November 2021: 30.1%

Yay I crossed over finally! It doesn't *look* like it took a long time to go from 22.2% to 30.1% (9 months) on paper, but it sure felt like it. Onward and upward.

[maisymouser]

Changing my number and my poll vote again because I see an error in my rental income spreadsheet -  I've double deducted my rental insurance premium- whoopsie. And I put in this year's rental expenses, which are lower than last years' and are more typical of a normal year's expenses. Fixed that and now at 102%. Whaddaya know. Hasn't sunk in quite yet.

We just did a cash-out refinance because next year is going to be an expensive year for the rentals (roof, paint job, sewer). We're temporarily at 107% now, but after all of those 2021 expenses** we'll dip down below 100% and need to build reserves back up. Hoping by 2022 to be back where we are now.
 
**But then all three houses will have a new roof and fresh paint, so we shouldn't have big expenses for quite some time after that.

Well, all of expensive 2021 is paid. We just did yet another cash-out refi. 2.25% loan!! (15Y)

And surprisingly, we're now at 116% and not FIRED, but I did switch down to part-time at work this month.
So partially RE'd?

CONGRATULATIONS!!! That must feel wonderful.

[BuffaloStache]

...

March 2021: 22.2%
May 2021: 26.0%
August 2021: 27.7%
November 2021: 30.1%

Yay I crossed over finally! It doesn't *look* like it took a long time to go from 22.2% to 30.1% (9 months) on paper, but it sure felt like it. Onward and upward.

Congrats! Love seeing the progress on this thread.

[SotI]

Just tallying my figures for YE 2021, looking now at 31.1% (of the full independence goal).
The NW increments have continously increased since I joined the forum.

Now I just need  to keep the momentum going ...

[SwordGuy]

Congrats to all of you!

[JAYSLOL]

Speaking of how long that money lasts, one of my favorite yearly trackers is the Financial Freedom Calculator (https://engaging-data.com/freedom-calculator/)

Basically, it calculates how far into a year your nest egg would get you based on your planned future withdraw rate and current nest egg. 10% puts you at February 5th, I believe. Which is BONKES AWESOME!

I add my "Current Freedom Date" to my yearly tracking, and it is so rewarding to see the days grow year-over-year. My dates over the last four years break down like this (as of January 1st of each year):

2017: Jan 17th
2018: Jan 19th
2019: Feb 13th
2020: Mar 20th

I think the really cool thing about the Freedom Calculator is it really shows the power of compounding. I gained 2 days in 2018 (when I didn't invest just saved for a down payment), 25 days in 2019, and 35 in 2020. My Goal for 2021 will put me past April 20th. Maybe I can push my way into May if I'm extra aggressive the second half of the year!

That’s cool, I like the idea of breaking it down into how much of a year I could cover indefinitely.  Hopefully I can cover until close to mid-February by the end of the year, Feb 11 or later would be awesome

2021 is over and I’m almost at 12%, which puts me at Feb 12 so pretty much on track where I was hoping to be.  For 2022 I’ll be aiming to hit to 15%

[alcon835]

Got to update my place in the chart today, at 31% for the year!! Pretty cool! that also means I'm Financially Independent through April 28th forever. That's INSANE. Four entire months I could not work and still be just fine.

[TyGuy]

Finished out the year at over 10% of my FI goal without a mortgage payment (achieving my yearly goal)! Happy with the progress and I will be attempting to make it to 18% next year with a stretch goal of 20%!


*First % is without a mortgage payment, second % is with current mortgage payment (13.5 years left at 1.75%)*

September 2021: 8.02%;  4.78%
October 2021: 8.19%; 4.88%
January 2022: 10.01%; 6.00%

[SwordGuy]

Finished out the year at over 10% of my FI goal without a mortgage payment (achieving my yearly goal)! Happy with the progress and I will be attempting to make it to 18% next year with a stretch goal of 20%!


*First % is without a mortgage payment, second % is with current mortgage payment (13.5 years left at 1.75%)*

September 2021: 8.02%;  4.78%
October 2021: 8.19%; 4.88%
January 2022: 10.01%; 6.00%

Oh, 10% is awesome!   It means you have the financial wherewithal to, most of the time, turn what others would consider a financial emergency into a simple darn-it.   That's really, really big.

And congrats on your plans for next year!

[itchyfeet]

Sigh, I’ve been stuck somewhere between 90-95% now for 4 years as I keep revising my retirement budget upwards.

At some point I will have to call enough, and 90 something percent will instantly become 100%

[Wolfpack Mustachian]

Thanks for the ability to remove my vote. It's really fun to be able to go up on it!

[SwordGuy]

Thanks for the ability to remove my vote. It's really fun to be able to go up on it!

You're welcome!   That was the intent of the poll, to see where you are now on your race!

[Rhoon]

Sigh, I’ve been stuck somewhere between 90-95% now for 4 years as I keep revising my retirement budget upwards.

At some point I will have to call enough, and 90 something percent will instantly become 100%

Why are you revising your budget up? What changed to cause the increase? I ask because I was doing the same thing recently; underestimated some expenses being gone. Being more honest with myself about what we spend in a given year, etc...

[TyGuy]

2021: Goal (10%)
2022: Goal (18% with stretch goal of 20%)

*First % is without a mortgage payment, second % is with current mortgage payment (~13.5 years left at 1.75%)*

September 2021: 8.02%;  4.78%
October 2021: 8.19%; 4.88%
January 2022: 10.01%; 6.00%
February 2022: 10.27%; 6.12%

[TyGuy]

2021: Goal (10%)
2022: Goal (18% with stretch goal of 20%)

*First % is without a mortgage payment, second % is with current mortgage payment (~13.5 years left at 1.75%)*
**4% withdrawal rate**

September 2021: 8.02%;  4.78%
October 2021: 8.19%; 4.88%
January 2022: 10.01%; 6.00%
February 2022: 10.27%; 6.12%
March 2022: 11.14%; 6.63%

[clarkfan1979]

I think we are around 40% to FI and about 5-10 years away. We currently save 30% of our income that goes directly into stock investments. We also have 3 rentals (4 doors).

We are not really in a rush because my current full-time job is somewhat similar to a barista FI part-time job. However, I still like the idea of FI, just in case my job ever became toxic.

I teach community college and work 30 hours/week M-Th on campus and another 5 hours/week from home. Each semester is 15 weeks + 1 week of prep. 32 weeks total is 1,120 hours/year. If you divide this by 52 weeks, I average 21.5 hours/week. My wife works 13.5 hours/week at Target. Our combined working hours are 35 hours/week. We still have plenty of time for hobbies, travel, etc...

About 18 months ago I said we were 5-10 years away from FI. Now after the real estate boom, my new estimate is 4-5 years. Our path is around zero to 2 million in about 15-16 years. 

[TyGuy]

2021: Goal (10%)
2022: Goal (18% with stretch goal of 20%)

*First % is without a mortgage payment, second % is with current mortgage payment (~13.5 years left at 1.75%)*
**4% withdrawal rate**

September 2021: 8.02%;  4.78%
October 2021: 8.19%; 4.88%
January 2022: 10.01%; 6.00%
February 2022: 10.27%; 6.12%
March 2022: 11.14%; 6.63%
April 2022: 11.93%; 7.10%

[oneday]

After 2 1/2 years of tracking monthly expenses, moving twice during that time, changing jobs and all kinds of other changes, I finally feel there've been enough monkey wrenches thrown into the works to be confident in my annual expenses on a macro level. So I can finally participate, woo!


01/01/98  0.0%
04/30/11  5.1%
03/31/16 10.2%
03/31/19 20.6%
08/31/20 30.6%
06/30/21 40.5%

04/30/22 48.7%

[TyGuy]

Goal 2021: 10%
Goal 2022: 18%; stretch goal 20%


*First % is without a mortgage payment, second % is with current mortgage payment (~13.5 years remaining at 1.75%)*
**4% withdrawal rate**


SEP 2021: 8.02%;  4.78%
OCT 2021: 8.19%;  4.88%
NOV 2021: 8.44%;  5.03%
DEC 2021: 8.38%;  4.99%
JAN 2022: 10.01%; 6.00%
FEB 2022: 10.27%; 6.12%
MAR 2022: 11.14%; 6.63%
APR 2022: 11.93%; 7.10%
MAY 2022: 11.30%; 6.73%

Continuing to jam as much cash into my investment accounts as possible. Whenever the market decides to swing upwards, I expect large gains!

[TyGuy]

Goal 2021: 10%
Goal 2022: 18%; stretch goal 20%


*First % is without a mortgage payment, second % is with current mortgage payment (~13.5 years remaining at 1.75%)*
**4% withdrawal rate**


SEP 2021: 8.02%;  4.78%
OCT 2021: 8.19%;  4.88%
NOV 2021: 8.44%;  5.03%
DEC 2021: 8.38%;  4.99%
JAN 2022: 10.01%; 6.00%
FEB 2022: 10.27%; 6.12%
MAR 2022: 11.14%; 6.63%
APR 2022: 11.93%; 7.10%
MAY 2022: 11.30%; 6.73%
JUN 2022: 11.94%; 6.74%

Big, planned expenses this month, hoping to break even!

[Mmm_Donuts]

Just popping in to say, changed my poll response from 110% and not FIREd to 90-100% and not FIREd. Sadly our accounts have gone down and expenses have gone up. We'll probably hang in and FIRE in a year or so depending on the markets / inflation situations. I'm sure many are in this situation, I still feel pretty fortunate and expenses this year have been high due to factors other than inflation (needed some expensive house repairs, helping out family members, etc.) I would love to be working at lowering expenses but it's hard to feel motivated - there's a little bit of "Treat Yoself" / YOLO after so many COVID restrictions lifting and 2+ years of various levels of lockdown.

[SwordGuy]

@Mmm_Donuts , I can understand that!

You're close to FI and, frankly, very well off to be that way!  Good job!

[TyGuy]

Goal 2021: 10%
Goal 2022: 18%; stretch goal 20%


*First % is without a mortgage payment, second % is with current mortgage payment (~13.5 years remaining at 1.75%)*
**4% withdrawal rate**


SEP 2021: 8.02%;  4.78%
OCT 2021: 8.19%;  4.88%
NOV 2021: 8.44%;  5.03%
DEC 2021: 8.38%;  4.99%
JAN 2022: 10.01%; 6.00%
FEB 2022: 10.27%; 6.12%
MAR 2022: 11.14%; 6.63%
APR 2022: 11.93%; 7.10%
MAY 2022: 11.30%; 6.73%
JUN 2022: 11.94%; 6.94%
SEP 2022: 12.39%; 7.37%


Did not update in July and August, but glad to see forward progress. I anticipate still making my goal for the year, as I will see a large, one time influx of money in October!

[BuffaloStache]

Just popping in to say, changed my poll response from 110% and not FIREd to 90-100% and not FIREd. Sadly our accounts have gone down and expenses have gone up. We'll probably hang in and FIRE in a year or so depending on the markets / inflation situations. I'm sure many are in this situation, I still feel pretty fortunate and expenses this year have been high due to factors other than inflation (needed some expensive house repairs, helping out family members, etc.) I would love to be working at lowering expenses but it's hard to feel motivated - there's a little bit of "Treat Yoself" / YOLO after so many COVID restrictions lifting and 2+ years of various levels of lockdown.

Not in the same situation, but I had to change my response and move it down ~3% (was at ~51%, now at 48%). Hang in there, Donuts! Hopefully this is short lived and a future recovery will give you a boost as you go into your FIRE'd life!

[JAYSLOL]

Speaking of how long that money lasts, one of my favorite yearly trackers is the Financial Freedom Calculator (https://engaging-data.com/freedom-calculator/)

Basically, it calculates how far into a year your nest egg would get you based on your planned future withdraw rate and current nest egg. 10% puts you at February 5th, I believe. Which is BONKES AWESOME!

I add my "Current Freedom Date" to my yearly tracking, and it is so rewarding to see the days grow year-over-year. My dates over the last four years break down like this (as of January 1st of each year):

2017: Jan 17th
2018: Jan 19th
2019: Feb 13th
2020: Mar 20th

I think the really cool thing about the Freedom Calculator is it really shows the power of compounding. I gained 2 days in 2018 (when I didn't invest just saved for a down payment), 25 days in 2019, and 35 in 2020. My Goal for 2021 will put me past April 20th. Maybe I can push my way into May if I'm extra aggressive the second half of the year!

That’s cool, I like the idea of breaking it down into how much of a year I could cover indefinitely.  Hopefully I can cover until close to mid-February by the end of the year, Feb 11 or later would be awesome

2021 is over and I’m almost at 12%, which puts me at Feb 12 so pretty much on track where I was hoping to be.  For 2022 I’ll be aiming to hit to 15%

At 12.1%, only about 0.2% above where I was at the start of the year despite contributing over 2% of my FIRE number to retirement accounts so far this year. 

[Monkey Uncle]

Speaking of how long that money lasts, one of my favorite yearly trackers is the Financial Freedom Calculator (https://engaging-data.com/freedom-calculator/)

Basically, it calculates how far into a year your nest egg would get you based on your planned future withdraw rate and current nest egg. 10% puts you at February 5th, I believe. Which is BONKES AWESOME!

I add my "Current Freedom Date" to my yearly tracking, and it is so rewarding to see the days grow year-over-year. My dates over the last four years break down like this (as of January 1st of each year):

2017: Jan 17th
2018: Jan 19th
2019: Feb 13th
2020: Mar 20th

I think the really cool thing about the Freedom Calculator is it really shows the power of compounding. I gained 2 days in 2018 (when I didn't invest just saved for a down payment), 25 days in 2019, and 35 in 2020. My Goal for 2021 will put me past April 20th. Maybe I can push my way into May if I'm extra aggressive the second half of the year!

That’s cool, I like the idea of breaking it down into how much of a year I could cover indefinitely.  Hopefully I can cover until close to mid-February by the end of the year, Feb 11 or later would be awesome

2021 is over and I’m almost at 12%, which puts me at Feb 12 so pretty much on track where I was hoping to be.  For 2022 I’ll be aiming to hit to 15%

At 12.1%, only about 0.2% above where I was at the start of the year despite contributing over 2% of my FIRE number to retirement accounts so far this year.

Just keep reminding yourself that you're buying low.

I'm over 4 1/2 years FIREd now, but times like these make me nostalgic for the days when I was buying low.  Now I'm trying to minimize selling low.

[SwordGuy]

We paid off our house and then maxed out our 401Ks in about 2010.   Those lowered prices added a sweet bonus to our portfolio growth!

If we had known about investing two years earlier we would have slowed down paying off the house!   We were making 2 1/2 to 3 /12 mortgage payments a month during that time!