Author Topic: 2018 FIRE cohort  (Read 738156 times)

TartanTallulah

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Re: 2018 FIRE cohort
« Reply #600 on: October 13, 2017, 07:36:55 AM »
I suspect that much of this grumbling about the pain of hanging on is mostly due to everyone hitting their target numbers 6-12 months early because of the recent market run.

Like I'm pretty sure that if the market was down 13% YTD instead of up 13% YTD, we would all be mentally preparing to stick it out for another year and convincing ourselves it's really not so bad.

Stay strong, classmates.  Don't jump early without a contingency plan.

Yes! 2018 would be OLY for me (there will have to be a revolution in my line of work for me to stick it out beyond March 2019), the earliest financially realistic date at which I could retire is June 2018, and I've got myself convinced that I mostly quite like my job. But it wouldn't take a very big financial windfall to remind me of all the reasons why I want to get out of this business.

I'm trying to cushion the blow by recruiting someone who can take over some of my work, allowing me to reduce my hours, and be trained up so that I'll scarcely be missed (for a lot of what I do now could be done by someone with less expensive qualifications). I made the suggestion without mentioning retirement, and my colleagues nixed it. Yet when I hand in my notice I expect they'll say, "Why didn't you say something sooner?"

ZiziPB

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Re: 2018 FIRE cohort
« Reply #601 on: October 13, 2017, 08:39:54 AM »
I suspect that much of this grumbling about the pain of hanging on is mostly due to everyone hitting their target numbers 6-12 months early because of the recent market run.

Like I'm pretty sure that if the market was down 13% YTD instead of up 13% YTD, we would all be mentally preparing to stick it out for another year and convincing ourselves it's really not so bad.

Stay strong, classmates.  Don't jump early without a contingency plan.

Sol, you are 100% correct in assessing why I feel this way.  I'm currently in the OMY and real estate/stocks have blown me past my number.  My safety net continues to gather strength... yet regardless of how strong it gets the worst case scenario remains the same: if everything blows up I get another job. And that job will feel necessary and result in feelings of joy and a sense of accomplishing something.  Thus, I'm at the moment living my worst case scenario (working) without the added "benefit" of feeling like I need to. 

Currently, the perceived futility of my efforts outweigh the joy I require of my toil.




I am in a similar situation.  I was considering FIREing this year and decided to stick around until March 2018 primarily to ensure that my daughter has properly "launched" after graduating in June 2017.  My target number was $1M in investable assets.  Well, the daughter found a good job and moved out within a couple of months of graduation.  And my stache is now approaching $1.4M.  So no wonder I'm restless at work :-)

brooklynguy

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Re: 2018 FIRE cohort
« Reply #602 on: October 13, 2017, 08:43:54 AM »
I suspect that much of this grumbling about the pain of hanging on is mostly due to everyone hitting their target numbers 6-12 months early because of the recent market run.

Yes.  We're all a bunch of cowards trying to rationalize our decision to continue working as something--anything--other than OMY syndrome, plain and simple.  Until now, cognitive dissonance has prevented me from fully and freely admitting to myself that I have already achieved financial independence.  I still plan to stick it out until my predetermined date (because I am still a coward), but I will at least try to be honest with myself about my cowardice and our status as a self-declared financially independent household.

Gimesalot

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Re: 2018 FIRE cohort
« Reply #603 on: October 13, 2017, 10:06:49 AM »

Part of my problem, is this last year is really a OMY. Life not money requires us to stick out until the spring.

This a where I am at too.  I am stuck because I need to get some work done on the house before we rent it out, but I don't have time to get the renovations done because I am at work.  I need to keep working to pay for the renovations and health insurance.  It's almost a self perpetuating problem!

I am really glad to know that I am not the only one that is dragging ass every morning to work and that we are mostly struggling with the same issues.

sol

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Re: 2018 FIRE cohort
« Reply #604 on: October 13, 2017, 11:27:10 AM »
We're all a bunch of cowards trying to rationalize our decision to continue working as something--anything--other than OMY syndrome,

Maybe we should just change the thread title to "50 people who suddenly have OMY syndrome."

CanuckExpat

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Re: 2018 FIRE cohort
« Reply #605 on: October 13, 2017, 11:37:53 AM »
Maybe we should just change the thread title to "50 people who suddenly have OMY syndrome."

Sol's mention of 50 people got me curious to check the numbers for each year so far:
2015 - 19
2016 - 29
2017 - 53 (47 confirmed, 6 pending)
2018 - 68 (all pending)

It goes up every year. (Rough count and all that)

DavidAnnArbor

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Re: 2018 FIRE cohort
« Reply #606 on: October 13, 2017, 04:20:00 PM »
I suspect that much of this grumbling about the pain of hanging on is mostly due to everyone hitting their target numbers 6-12 months early because of the recent market run.

Yes.  We're all a bunch of cowards trying to rationalize our decision to continue working as something--anything--other than OMY syndrome, plain and simple.  Until now, cognitive dissonance has prevented me from fully and freely admitting to myself that I have already achieved financial independence.  I still plan to stick it out until my predetermined date (because I am still a coward), but I will at least try to be honest with myself about my cowardice and our status as a self-declared financially independent household.
LOL.  Pure greed here.  2 months of work gain something like an extra $100 per month for life, plus medical.  Seems worth it.  I gave notice to employer last week of my expected Jan date, so they can back fill my position.  Tough to let a great job go.

Sounds like you're saving $15,000 a month, or $180,000 a year.

cerat0n1a

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Re: 2018 FIRE cohort
« Reply #607 on: October 15, 2017, 03:24:11 AM »
We're all a bunch of cowards trying to rationalize our decision to continue working as something--anything--other than OMY syndrome,

Maybe we should just change the thread title to "50 people who suddenly have OMY syndrome."

I'm OLY - moved here from the 2019 thread.

aperture

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Re: 2018 FIRE cohort
« Reply #608 on: October 15, 2017, 05:24:31 AM »
I suspect that much of this grumbling about the pain of hanging on is mostly due to everyone hitting their target numbers 6-12 months early because of the recent market run.

For me, this last year is about the golden handcuffs. Next June I hit the magic retirement equation threshold and my employer will kick in some added Medicare benefits that start at age 65 (of unknown value) and I will be able to take my pension pay out as a lump sum.

Mostly, I do not look at the our account totals because it can make me crazy whether it goes up or down. If stocks are going up like crazy, I can feel like I missed the boat with my bond allocation. If they are flat or go down, I worry that I am getting out just as the market is about to fall off a cliff (why I have  a bond allocation).  Either way, I can talk myself into not sleeping, so I only look at the accounts 2 times a year. 

So glad for all the responses talking about how much work really bites in the last year.  I feel far less whiny knowing that my pain is shared by such illustrious company.  Presently, I am hanging in there until Thanksgiving week when I am taking the whole week off.  Then it is just 4 weeks of work until Christmas (another week off). I like the idea of taking one day a week off.  I am going to make that my plan for 2018.  I will do the math once I am back at my cubicle with my spreadsheets.

chasesfish

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Re: 2018 FIRE cohort
« Reply #609 on: October 15, 2017, 09:22:57 AM »
The debate of June 2018 or March 2019 rages on as the dates approach.   Stay tuned...

Monkey Uncle

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Re: 2018 FIRE cohort
« Reply #610 on: October 15, 2017, 02:28:15 PM »
We're all a bunch of cowards trying to rationalize our decision to continue working as something--anything--other than OMY syndrome,

Maybe we should just change the thread title to "50 people who suddenly have OMY syndrome."

I'm coming down the home stretch in my O-and-a-half MY.  I reached minimal FI in mid 2016, but decided to stick around at least until after the election, just for a little more padding, and also just in case something crazy happened that would impact the Affordable Care Act (ahem).  Then it became "I'll hang on until I see what comes after the ACA." (double ahem).  When it became apparent that we weren't going to find out quickly, I told myself that if the ACA still exists in any functional form at all, I'm bailing at the beginning of 2018. 

At this point I've built up a fairly comfortable buffer beyond my current spending level, but if I suddenly had to pay 20 or 25 grand a year for health insurance, I would no longer be FI.  I won't deny that when the most recent ACA shenanigans unfolded last week, I thought about pushing my date out yet again.  But instead, I think I'm going to set up a LLC, call myself a consultant, and do just enough so that everyone in my professional network doesn't forget about me.  Then, if I suddenly have to pay full price for health insurance, hopefully I can ramp that up into a PT gig that generates 10 or 15k a year.

DavidAnnArbor

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Re: 2018 FIRE cohort
« Reply #611 on: October 16, 2017, 04:58:47 AM »
We're all a bunch of cowards trying to rationalize our decision to continue working as something--anything--other than OMY syndrome,

Maybe we should just change the thread title to "50 people who suddenly have OMY syndrome."

I'm coming down the home stretch in my O-and-a-half MY.  I reached minimal FI in mid 2016, but decided to stick around at least until after the election, just for a little more padding, and also just in case something crazy happened that would impact the Affordable Care Act (ahem).  Then it became "I'll hang on until I see what comes after the ACA." (double ahem).  When it became apparent that we weren't going to find out quickly, I told myself that if the ACA still exists in any functional form at all, I'm bailing at the beginning of 2018. 

At this point I've built up a fairly comfortable buffer beyond my current spending level, but if I suddenly had to pay 20 or 25 grand a year for health insurance, I would no longer be FI.  I won't deny that when the most recent ACA shenanigans unfolded last week, I thought about pushing my date out yet again.  But instead, I think I'm going to set up a LLC, call myself a consultant, and do just enough so that everyone in my professional network doesn't forget about me.  Then, if I suddenly have to pay full price for health insurance, hopefully I can ramp that up into a PT gig that generates 10 or 15k a year.

That sounds like a sensible plan.

Vegasgirl

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Re: 2018 FIRE cohort
« Reply #612 on: October 16, 2017, 05:48:53 AM »
I'm actually in the same boat as chasesfish.  My internal debate right now is either 12/1/18 (with may last working day being Oct 3 because of leave usage) or 4/1/19 (with my last working day being Feb 6 because of leave usage).  Yes this year has been a bumper year for my stash, but staying those first 3 mos of 2019 lets me add $18k more to the stash tax deferred, then I'd be out.  My thought is I'll wait until next summer to make the final decision, see how I feel and how things are going.

pecunia

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Re: 2018 FIRE cohort
« Reply #613 on: October 16, 2017, 07:39:19 PM »
Thinking very very strongly about pullin' the plug next year.  Heck - I'll even be at the right age where people won't question it, i.e. 62.  Maybe in July or maybe wait until the end of the year.  Does one go with more free time or go with more toys?  Been very frugal for the past 30 years or so.  I think I've paid my dues.

CowboyAndIndian

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Re: 2018 FIRE cohort
« Reply #614 on: October 16, 2017, 07:51:58 PM »
Welcome Pecunia.

Go for it, Give us your date and we'll add you to the list.

JumboShrimp

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The countdown begins!
« Reply #615 on: October 19, 2017, 08:37:47 AM »
FIRE date: Oct 5 2018

Can't believe I'm here!

Stumbled across MMM in 2013 after a brutal layoff from a company I thought I would be at until I retired. I was completely devastated. At that point I vowed I would NEVER leave my future in the hands of others. Fortunately I have always been a frugal lad, so following the Mustachian path was more about smart investing than anything else. It sure didn't hurt that the next job I got paid 25% more. Started maxing out the 401(k) and IRA contributions, moved the cash I was sitting on into index funds and went for >50% total savings rate. According to Vanguard my investment income for the last year was equal to after tax income.
Booyah!!!

According to FireCalc right now I am at 95% chance of success (including SS starting in 2023) which is really making it tough to work since I cannot stand my current position. I am sticking it out because part of my plan is to add some rental properties to the mix which will be a lot easier while I have W2 income.

I picked October 5 because I scored a Grand Canyon rafting permit with a launch date of October 10 2018 so that makes a nice hard stop. A month on that trip and probably a month or two of rock climbing in Greece after that. And then spend some time in Spain attempting to learn flamenco guitar.

Got my fingers crossed that the health care situation doesn't implode. Stocks could take a dump, but I am hoping rentals will help smooth market volatility. Worst case is to sell or rent the house and move to a lower cost of living area. I am in the Seattle area, housing prices are through the roof so I have a s**t ton of equity to take advantage of.

No I take that back, worst case is going back to work;-)

CowboyAndIndian

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Re: 2018 FIRE cohort
« Reply #616 on: October 19, 2017, 09:38:04 AM »
Welcome JumboShrimp

01/05/18  Gimesalot
01/06/18  Monkey Uncle
01/??/18  FIBy30
01/??/18  MomCPA
01/??/18  NorGirl
01/??/18  PizzaSteve
01/??/18  PrePube
01/??/18  Zinethstache
02/01/18  DTaggart
02/28/18  brooklynguy
03/16/18  Cherry Lane
03/30/18  sol
03/31/18  Caoineag (at 36)
03/31/18  homestead neohio
03/31/18  ZiziPB (at 50)
03/31/18  DavidAnnArbor (at 52) (Won't renew my office lease)
03/??/18  Badblackgirl
03/??/18  Clean Shaven
03/??/18  JLTinVA
03/??/18  Sofa King
03/??/18  MiserlyMiser
04/20/18  NinetyFour
04/??/18  Aegishjalmur (At 35)
04/??/18  Calvin
04/??/18  FernFree
04/??/18  Gooki
04/??/18  LateStarter
~04/??/18 HappyMargo
~04/??/18 Mother Fussbudget
05/01/18  SwordGuy (at 60)
05/08/18  SwordGuy DW (SwordGuy isn't saying.   He wants to live.)
05/??/18  Alim Nassor
05/04/18  wordnerd and DH (at 30 and 36)
05/15/18  Markbike528CBX (at 53.5)
~06/01/18 Honeyfill  (at 60)
06/15/18  DavisGang90 (at 49)
06/29/18  aperture
06/29/18  CowboyAndIndian (at 59)
06/??/18  Albireo13
06/??/18  Cheddar Stacker
06/??/18  dbtx
06/??/18  Omalley
06/??/18  poppydog
06/??/18  randomgiraffe
06/??/18  SwissMiss
~06/??/18 Pylortes
07/??/18  AussieGirl
07/??/18  ChasesFish
07/??/18  Mr Griz
~07/??/18 BackAndForth
~07/??/18 cerat0n1a
~07/??/18 Freshwater
~07/??/18 SnidelyWhiplashStache
08/??/18  Mr Mark
08/??/18  NorCalistache
10/05/18  JumboShrimp
10/??/18  Fire1018
10/??/18  Happy
10/??/18  Irishtache
10/??/18  patches
11/??/18  DeSteeg
11/??/18  Kris
12/01/18  Vegasgirl (at 49)
12/??/18  EnjoyIt
12/??/18  yoda34
??/??/18  Blindsquirrel
??/??/18  Michread
??/??/18  Minnesota_mom
??/??/18  OzBeach -- WIGLO (When I Get Laid Off)
??/??/18  thriftycanadian

Gimesalot

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Re: The countdown begins!
« Reply #617 on: October 19, 2017, 10:29:48 AM »

I picked October 5 because I scored a Grand Canyon rafting permit with a launch date of October 10 2018 so that makes a nice hard stop. A month on that trip and probably a month or two of rock climbing in Greece after that. And then spend some time in Spain attempting to learn flamenco guitar.


What an amazing start to FIRE!

pecunia

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Re: 2018 FIRE cohort
« Reply #618 on: October 19, 2017, 06:28:23 PM »
Seems like a good list to be on.  Yah - a very good list.

01/05/18  Gimesalot
01/06/18  Monkey Uncle
01/??/18  FIBy30
01/??/18  MomCPA
01/??/18  NorGirl
01/??/18  PizzaSteve
01/??/18  PrePube
01/??/18  Zinethstache
02/01/18  DTaggart
02/28/18  brooklynguy
03/16/18  Cherry Lane
03/30/18  sol
03/31/18  Caoineag (at 36)
03/31/18  homestead neohio
03/31/18  ZiziPB (at 50)
03/31/18  DavidAnnArbor (at 52) (Won't renew my office lease)
03/??/18  Badblackgirl
03/??/18  Clean Shaven
03/??/18  JLTinVA
03/??/18  Sofa King
03/??/18  MiserlyMiser
04/20/18  NinetyFour
04/??/18  Aegishjalmur (At 35)
04/??/18  Calvin
04/??/18  FernFree
04/??/18  Gooki
04/??/18  LateStarter
~04/??/18 HappyMargo
~04/??/18 Mother Fussbudget
05/01/18  SwordGuy (at 60)
05/08/18  SwordGuy DW (SwordGuy isn't saying.   He wants to live.)
05/??/18  Alim Nassor
05/04/18  wordnerd and DH (at 30 and 36)
05/15/18  Markbike528CBX (at 53.5)
~06/01/18 Honeyfill  (at 60)
06/15/18  DavisGang90 (at 49)
06/29/18  aperture
06/29/18  CowboyAndIndian (at 59)
06/??/18  Albireo13
06/??/18  Cheddar Stacker
06/??/18  dbtx
06/??/18  Omalley
06/??/18  poppydog
06/??/18  randomgiraffe
06/??/18  SwissMiss
~06/??/18 Pylortes
07/??/18  AussieGirl
07/??/18  ChasesFish
07/??/18  Mr Griz
~07/??/18 BackAndForth
~07/??/18 cerat0n1a
~07/??/18 Freshwater
~07/??/18 SnidelyWhiplashStache
08/??/18  Mr Mark
08/??/18  NorCalistache
10/05/18  JumboShrimp
10/??/18  Fire1018
10/??/18  Happy
10/??/18  Irishtache
10/??/18  patches
11/??/18  DeSteeg
11/??/18  Kris
12/01/18  Vegasgirl (at 49)
12/??/18  EnjoyIt
12/??/18  yoda34
??/??/18  Blindsquirrel
??/??/18  Michread
??/??/18  Minnesota_mom
??/??/18  OzBeach -- WIGLO (When I Get Laid Off)
??/??/18  thriftycanadian
??/??/18  pecunia

Just got to get me through the next 8 months and 18 days and I should be at the guarantee point.

When you think about it doesn't it just send a euphoric sense of peace all over you?  I've always felt like I was a human ping pong ball in the workplace.  Now I'll be able to take a long hike on a nature trail and just feel a sense of one-ness with everything around me.  And,.....I'll be able to do it in the middle of the week, no less, because I won't be working.

honeyfill

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Re: 2018 FIRE cohort
« Reply #619 on: October 20, 2017, 09:57:49 AM »
Thought I’d do a progress report on my march to freedom.  I am still planning on retiring June 1 so I can pay off the car and the kitchen remodel. However, Mrs Honeyfill is thinking about moving up her date.  She is may retire as soon as Feb 1.  I am trying to talk her into retiring even sooner.  She makes 60% less than me but has 100% more stress.  I don’t know how she does it.   The earliest we can retire is Jan 1 but I need to stay the rest of the year to take advantage of the max out of pocket on the health care.     
We made good progress on paying down debts this month.  The bathroom remodel is completely paid for, the back porch update and new patio furniture is paid for.  The car repair (damn pack rats) is completely paid for. We also paid off the last of our trip to Montana from last summer. 
I’ve also been getting all our health issues taken care off while Megacorp is still paying .  We hit our maximum out of pocket this year , so everything is “free” the rest of the year.   Saw the eye doctor and got a new pair of   glasses.  Saw the dentist and got a treatment plan to complete all work by the end of the year.  Got my annual check check, I’m in pretty good health for a 60 year old guy but  decided on doing a sleep apnea test and to have a umbilical hernia taken care of. These are both minor  and optional but since they are free , I figured I would do it this year. 
As  several people have noted, Work gets tougher and tougher to handle as the end date gets closer. However, I’m trying to concentrate on the fun stuff and I’m learning to say no.  That helps a lot!
 

DavidAnnArbor

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Re: 2018 FIRE cohort
« Reply #620 on: October 20, 2017, 10:06:42 AM »
  decided on doing a sleep apnea test

Anything you can do to get rid of body fat, exercise and diet, helps to improve sleep apnea.

Mrbeardedbigbucks

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Re: 2018 FIRE cohort
« Reply #621 on: October 21, 2017, 06:56:53 AM »

01/05/18  Gimesalot
01/06/18  Monkey Uncle
01/??/18  FIBy30
01/??/18  MomCPA
01/??/18  NorGirl
01/15/18  PizzaSteve
01/??/18  PrePube
01/??/18  Zinethstache
02/01/18  DTaggart
02/28/18  brooklynguy
03/16/18  Cherry Lane
03/30/18  sol
03/31/18  Caoineag (at 36)
03/31/18  homestead neohio
03/31/18  ZiziPB (at 50)
03/31/18  DavidAnnArbor (at 52) (Won't renew my office lease)
03/??/18  Badblackgirl
03/??/18  Clean Shaven
03/??/18  JLTinVA
03/??/18  Sofa King
03/??/18  MiserlyMiser
04/20/18  NinetyFour
04/??/18  Aegishjalmur (At 35)
04/??/18  Calvin
04/??/18  FernFree
04/??/18  Gooki
04/??/18  LateStarter
~04/??/18 HappyMargo
~04/??/18 Mother Fussbudget
05/01/18  SwordGuy (at 60)
05/08/18  SwordGuy DW (SwordGuy isn't saying.   He wants to live.)
05/??/18  Alim Nassor
05/04/18  wordnerd and DH (at 30 and 36)
05/15/18  Markbike528CBX (at 53.5)
~06/01/18 Honeyfill  (at 60)
06/15/18  DavisGang90 (at 49)
06/29/18  aperture
06/29/18  CowboyAndIndian (at 59)
06/??/18  Albireo13
06/??/18  Cheddar Stacker
06/??/18  dbtx
06/??/18  Omalley
06/??/18  poppydog
06/??/18  randomgiraffe
06/??/18  SwissMiss
~06/??/18 Pylortes
07/??/18  AussieGirl
07/??/18  ChasesFish
07/??/18  Mr Griz
~07/??/18 BackAndForth
~07/??/18 cerat0n1a
~07/??/18 Freshwater
~07/??/18 SnidelyWhiplashStache
08/??/18  Mr Mark
08/??/18  NorCalistache
10/05/18  JumboShrimp
10/??/18  Fire1018
10/??/18  Happy
10/??/18  Irishtache
10/??/18  patches
11/??/18  DeSteeg
11/??/18  Kris
12/01/18  Vegasgirl (at 49)
12/??/18  EnjoyIt
12/??/18  yoda34
??/??/18  Blindsquirrel
??/??/18  Michread
??/??/18  Minnesota_mom
??/??/18  OzBeach -- WIGLO (When I Get Laid Off)
??/??/18  thriftycanadian
??/??/18  pecunia

Letter sent to HR for 1/15 last day of work.

I believe I can be added to this list. The plan right now is 3/31/18. This is contingent on the state of the ACA. My wife and I will rely on health care exchanges for our coverage. We've added room in our budget for premiums to increase but if premiums become too expensive then I don't know.

I'm 44 and my wife is 39.

My questions for anyone planning to FIRE in 2017 or 2018:

1. If we're retiring at the tail end of this bull market, what are you doing to mitigate sequence of returns risk? Do you continue to work and just grind it out through a bear market? What if that bear lasts 2-3 years? Are your assets at the point where you can absorb a big downturn and still be safely in your expected withdrawal rate?

2. If you're relying on the ACA for coverage, how much more are you budgeting for premium increases?

Sorry to be a downer but these are the two biggest issues weighing on my mind. Maybe these questions are best for a separate thread but just thought I'd throw it out there.

« Last Edit: October 21, 2017, 07:19:49 AM by Mrbeardedbigbucks »

CowboyAndIndian

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Re: 2018 FIRE cohort
« Reply #622 on: October 21, 2017, 07:39:04 AM »
Welcome Mrbeardedbigbucks!


01/05/18  Gimesalot
01/06/18  Monkey Uncle
01/??/18  FIBy30
01/??/18  MomCPA
01/??/18  NorGirl
01/15/18  PizzaSteve
01/??/18  PrePube
01/??/18  Zinethstache
02/01/18  DTaggart
02/28/18  brooklynguy
03/16/18  Cherry Lane
03/30/18  sol
03/31/18  Caoineag (at 36)
03/31/18  homestead neohio
03/31/18  Mrbeardedbigbucks
03/31/18  ZiziPB (at 50)
03/31/18  DavidAnnArbor (at 52) (Won't renew my office lease)
03/??/18  Badblackgirl
03/??/18  Clean Shaven
03/??/18  JLTinVA
03/??/18  Sofa King
03/??/18  MiserlyMiser
04/20/18  NinetyFour
04/??/18  Aegishjalmur (At 35)
04/??/18  Calvin
04/??/18  FernFree
04/??/18  Gooki
04/??/18  LateStarter
~04/??/18 HappyMargo
~04/??/18 Mother Fussbudget
05/01/18  SwordGuy (at 60)
05/08/18  SwordGuy DW (SwordGuy isn't saying.   He wants to live.)
05/??/18  Alim Nassor
05/04/18  wordnerd and DH (at 30 and 36)
05/15/18  Markbike528CBX (at 53.5)
~06/01/18 Honeyfill  (at 60)
06/15/18  DavisGang90 (at 49)
06/29/18  aperture
06/29/18  CowboyAndIndian (at 59)
06/??/18  Albireo13
06/??/18  Cheddar Stacker
06/??/18  dbtx
06/??/18  Omalley
06/??/18  poppydog
06/??/18  randomgiraffe
06/??/18  SwissMiss
~06/??/18 Pylortes
07/??/18  AussieGirl
07/??/18  ChasesFish
07/??/18  Mr Griz
~07/??/18 BackAndForth
~07/??/18 cerat0n1a
~07/??/18 Freshwater
~07/??/18 SnidelyWhiplashStache
08/??/18  Mr Mark
08/??/18  NorCalistache
10/05/18  JumboShrimp
10/??/18  Fire1018
10/??/18  Happy
10/??/18  Irishtache
10/??/18  patches
11/??/18  DeSteeg
11/??/18  Kris
12/01/18  Vegasgirl (at 49)
12/??/18  EnjoyIt
12/??/18  yoda34
??/??/18  Blindsquirrel
??/??/18  Michread
??/??/18  Minnesota_mom
??/??/18  OzBeach -- WIGLO (When I Get Laid Off)
??/??/18  thriftycanadian
??/??/18  pecunia




Monkey Uncle

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Re: 2018 FIRE cohort
« Reply #623 on: October 21, 2017, 03:16:08 PM »

My questions for anyone planning to FIRE in 2017 or 2018:

1. If we're retiring at the tail end of this bull market, what are you doing to mitigate sequence of returns risk? Do you continue to work and just grind it out through a bear market? What if that bear lasts 2-3 years? Are your assets at the point where you can absorb a big downturn and still be safely in your expected withdrawal rate?

2. If you're relying on the ACA for coverage, how much more are you budgeting for premium increases?

Sorry to be a downer but these are the two biggest issues weighing on my mind. Maybe these questions are best for a separate thread but just thought I'd throw it out there.

1.  Well, no one really knows if we're at the tail end of the bull market or not, but history being what it is, it wouldn't be unexpected for a bear market to occur during the first few years for anyone retiring now.  As a hedge, I've worked about 18 months past reaching basic FI status so that I'll be FIREing with a 100% cFiresim success rate, even after allowing for a $10k/yr buffer over basic spending.  So basically I've worked too long, just in case working long enough wasn't really long enough.

2.  If the ACA goes belly up, I'll find a way to earn some supplemental income.  Right now I'm thinking that I'll do some part time consulting.

Fresh Bread

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Re: 2018 FIRE cohort
« Reply #624 on: October 21, 2017, 04:07:10 PM »
1. If we're retiring at the tail end of this bull market, what are you doing to mitigate sequence of returns risk? Do you continue to work and just grind it out through a bear market? What if that bear lasts 2-3 years? Are your assets at the point where you can absorb a big downturn and still be safely in your expected withdrawal rate?

2. If you're relying on the ACA for coverage, how much more are you budgeting for premium increases?

1. We'll have 18 months expenses in cash and a diversified income incl. a rental and P2P. Also about 20% of our expenses are luxuries that can be cut out and in a real pinch we could exist on 50%.  In reality, DH would just keep working as he would not be keen to cut out certain luxuries - travel, meals out.
2. We're not in the US.

I don't really know what retirement is going to look like but when I think of free time, I just imagine all the little do-gooding ventures I could start without worrying if they will pay the bills. The closer it gets, the more I think I'll be a sort of non-profit small business SWAMI, able to pay myself a small wage if things get tight.

SwordGuy

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Re: 2018 FIRE cohort
« Reply #625 on: October 21, 2017, 04:34:37 PM »
We have diversified passive income streams that mean our stock will be withdrawn at less than a 1% SWR.  After a year or two, we won't have to touch it at all for planned expenses.  (We need to provide for a mentally handicapped daughter so we built a lot more safety factors into our FIRE plan than most of you need.)

Cookie78

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Re: 2018 FIRE cohort
« Reply #626 on: October 22, 2017, 01:21:29 AM »
My questions for anyone planning to FIRE in 2017 or 2018:

1. If we're retiring at the tail end of this bull market, what are you doing to mitigate sequence of returns risk? Do you continue to work and just grind it out through a bear market? What if that bear lasts 2-3 years? Are your assets at the point where you can absorb a big downturn and still be safely in your expected withdrawal rate?

2. If you're relying on the ACA for coverage, how much more are you budgeting for premium increases?

Sorry to be a downer but these are the two biggest issues weighing on my mind. Maybe these questions are best for a separate thread but just thought I'd throw it out there.

1. Sorta FIREd in 2017. My job is still waiting for me to come back in August 2018, which I will have to do for a couple weeks, maybe months until my rental house sells. If bear market is bad by then I may stay an extra 6 months or so for extra cash to invest while there's a sale and a little extra to cover expenses for another year maybe. The biggest mitigation plan is having super low expenses and a nomadic life, as well as the option to work a few temp jobs or side gigs if I feel like it.

2. Canada

albireo13

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Re: 2018 FIRE cohort
« Reply #627 on: October 22, 2017, 05:55:56 AM »
I'm on the list but, have need to switch to 2019.   

ZiziPB

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Re: 2018 FIRE cohort
« Reply #628 on: October 22, 2017, 06:30:35 AM »

My questions for anyone planning to FIRE in 2017 or 2018:

1. If we're retiring at the tail end of this bull market, what are you doing to mitigate sequence of returns risk? Do you continue to work and just grind it out through a bear market? What if that bear lasts 2-3 years? Are your assets at the point where you can absorb a big downturn and still be safely in your expected withdrawal rate?

2. If you're relying on the ACA for coverage, how much more are you budgeting for premium increases?

Sorry to be a downer but these are the two biggest issues weighing on my mind. Maybe these questions are best for a separate thread but just thought I'd throw it out there.

Here is a list I put together a while ago to remind myself that I will be OK even if the markets take a downturn after I FIRE:

- no debt, no future financial obligations for children (I have one adult child who is working and supporting herself)
- planning for a withdrawal rate of less than 4%
- using a fairly conservative asset allocation (about 60/40 stocks to fixed income)
- planning to have 3-5 years of basic expenses in I bonds and CDs
- not including SS in FIRE calculations (I'll be 50 when I FIRE so I will get some SS but my numbers work anyway)
- building in flexibility in spending (I have a generous travel budget that can be scaled down or scrapped completely if need be)
- if the absolute worst case scenario happens and we have a complete meltdown of financial markets, I own a small farm where I can grow my own food ;-)

As to the health care costs, I am moving to Europe to live close to my family and will be eligible to be covered by the national health insurance there.  If I decide to return to the US after a few years, I will worry about the costs then.  Hopefully, something will be done with health insurance by then.

Cheddar Stacker

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Re: 2018 FIRE cohort
« Reply #629 on: October 22, 2017, 07:31:40 AM »

CowboyAndIndian

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Re: 2018 FIRE cohort
« Reply #630 on: October 22, 2017, 10:04:22 AM »
Albireo13 goes OMY


01/05/18  Gimesalot
01/06/18  Monkey Uncle
01/??/18  FIBy30
01/??/18  MomCPA
01/??/18  NorGirl
01/15/18  PizzaSteve
01/??/18  PrePube
01/??/18  Zinethstache
02/01/18  DTaggart
02/28/18  brooklynguy
03/16/18  Cherry Lane
03/30/18  sol
03/31/18  Caoineag (at 36)
03/31/18  homestead neohio
03/31/18  Mrbeardedbigbucks
03/31/18  ZiziPB (at 50)
03/31/18  DavidAnnArbor (at 52) (Won't renew my office lease)
03/??/18  Badblackgirl
03/??/18  Clean Shaven
03/??/18  JLTinVA
03/??/18  Sofa King
03/??/18  MiserlyMiser
04/20/18  NinetyFour
04/??/18  Aegishjalmur (At 35)
04/??/18  Calvin
04/??/18  FernFree
04/??/18  Gooki
04/??/18  LateStarter
~04/??/18 HappyMargo
~04/??/18 Mother Fussbudget
05/01/18  SwordGuy (at 60)
05/08/18  SwordGuy DW (SwordGuy isn't saying.   He wants to live.)
05/??/18  Alim Nassor
05/04/18  wordnerd and DH (at 30 and 36)
05/15/18  Markbike528CBX (at 53.5)
~06/01/18 Honeyfill  (at 60)
06/15/18  DavisGang90 (at 49)
06/29/18  aperture
06/29/18  CowboyAndIndian (at 59)
06/??/18  Cheddar Stacker
06/??/18  dbtx
06/??/18  Omalley
06/??/18  poppydog
06/??/18  randomgiraffe
06/??/18  SwissMiss
~06/??/18 Pylortes
07/??/18  AussieGirl
07/??/18  ChasesFish
07/??/18  Mr Griz
~07/??/18 BackAndForth
~07/??/18 cerat0n1a
~07/??/18 Freshwater
~07/??/18 SnidelyWhiplashStache
08/??/18  Mr Mark
08/??/18  NorCalistache
10/05/18  JumboShrimp
10/??/18  Fire1018
10/??/18  Happy
10/??/18  Irishtache
10/??/18  patches
11/??/18  DeSteeg
11/??/18  Kris
12/01/18  Vegasgirl (at 49)
12/??/18  EnjoyIt
12/??/18  yoda34
??/??/18  Blindsquirrel
??/??/18  Michread
??/??/18  Minnesota_mom
??/??/18  OzBeach -- WIGLO (When I Get Laid Off)
??/??/18  thriftycanadian
??/??/18  pecunia


MaybeBabyMustache

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Re: 2018 FIRE cohort
« Reply #631 on: October 23, 2017, 03:48:06 PM »
I'm planning to join! I'm hoping for 3/25/18, but 6/25/18 is my second option. I'd like to actually stop working (at the latest) on 6/4, and use vacation to coast the rest of the way there, but we'll see.

My husband will keep working, so we'll move to his insurance (as well as the kids).

I'm getting promoted (ha!) & should have details in the next week or so on increased pay & equity. That might incent me to stay for another month or so. The 3/25 date assumes I have the correct amount saved for taxes after the sale of our rental property. The 6/25 date gives me a little more flex in case we owe more. It also allows me to fund any house projects we're currently considering (solar, electrical upgrade, new deck, etc).

Our plan is to live off of my husband's salary/stock, and for me not to work. Both kids will be out of the house in 7 years, and we will sell our house in our crazy HCOL, and my husband will then be old enough to tap into his retirement. We'll move somewhere significantly cheaper. I have enough saved to cover 7 years exactly (with a super flexible budget) of me not working. I'm open to the idea of picking up work here & there, should something appeal.

So excited/nervous/dreading every day at work. I travel internationally quite a bit, so I've broken my remaining time at work into: days, months, international trips, days away from my family and. . . hours spent on a plane for non-enjoyment. :-)

MaybeBabyMustache

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Re: 2018 FIRE cohort
« Reply #632 on: October 23, 2017, 04:36:00 PM »
Let's see if I can do this:
01/05/18  Gimesalot
01/06/18  Monkey Uncle
01/??/18  FIBy30
01/??/18  MomCPA
01/??/18  NorGirl
01/15/18  PizzaSteve
01/??/18  PrePube
01/??/18  Zinethstache
02/01/18  DTaggart
02/28/18  brooklynguy
03/16/18  Cherry Lane
03/30/18  sol
03/31/18  Caoineag (at 36)
03/31/18  homestead neohio
03/31/18  Mrbeardedbigbucks
03/31/18  ZiziPB (at 50)
03/31/18  DavidAnnArbor (at 52) (Won't renew my office lease)
03/??/18  Badblackgirl
03/??/18  Clean Shaven
03/??/18  JLTinVA
03/??/18  Sofa King
03/??/18  MiserlyMiser
04/20/18  NinetyFour
04/??/18  Aegishjalmur (At 35)
04/??/18  Calvin
04/??/18  FernFree
04/??/18  Gooki
04/??/18  LateStarter
~04/??/18 HappyMargo
~04/??/18 Mother Fussbudget
05/01/18  SwordGuy (at 60)
05/08/18  SwordGuy DW (SwordGuy isn't saying.   He wants to live.)
05/??/18  Alim Nassor
05/04/18  wordnerd and DH (at 30 and 36)
05/15/18  Markbike528CBX (at 53.5)
~06/01/18 Honeyfill  (at 60)
06/15/18  DavisGang90 (at 49)
06/25/18 MaybeBabyMustache (at 42)
06/29/18  aperture
06/29/18  CowboyAndIndian (at 59)
06/??/18  Cheddar Stacker
06/??/18  dbtx
06/??/18  Omalley
06/??/18  poppydog
06/??/18  randomgiraffe
06/??/18  SwissMiss
~06/??/18 Pylortes
07/??/18  AussieGirl
07/??/18  ChasesFish
07/??/18  Mr Griz
~07/??/18 BackAndForth
~07/??/18 cerat0n1a
~07/??/18 Freshwater
~07/??/18 SnidelyWhiplashStache
08/??/18  Mr Mark
08/??/18  NorCalistache
10/05/18  JumboShrimp
10/??/18  Fire1018
10/??/18  Happy
10/??/18  Irishtache
10/??/18  patches
11/??/18  DeSteeg
11/??/18  Kris
12/01/18  Vegasgirl (at 49)
12/??/18  EnjoyIt
12/??/18  yoda34
??/??/18  Blindsquirrel
??/??/18  Michread
??/??/18  Minnesota_mom
??/??/18  OzBeach -- WIGLO (When I Get Laid Off)
??/??/18  thriftycanadian
??/??/18  pecunia

momcpa

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Re: 2018 FIRE cohort
« Reply #633 on: October 23, 2017, 06:42:48 PM »
Let's see if I can do this:
01/05/18  Gimesalot
01/06/18  Monkey Uncle
01/??/18  FIBy30
01/31/18  MomCPA
01/??/18  NorGirl
01/15/18  PizzaSteve
01/??/18  PrePube
01/??/18  Zinethstache
02/01/18  DTaggart
02/28/18  brooklynguy
03/16/18  Cherry Lane
03/30/18  sol
03/31/18  Caoineag (at 36)
03/31/18  homestead neohio
03/31/18  Mrbeardedbigbucks
03/31/18  ZiziPB (at 50)
03/31/18  DavidAnnArbor (at 52) (Won't renew my office lease)
03/??/18  Badblackgirl
03/??/18  Clean Shaven
03/??/18  JLTinVA
03/??/18  Sofa King
03/??/18  MiserlyMiser
04/20/18  NinetyFour
04/??/18  Aegishjalmur (At 35)
04/??/18  Calvin
04/??/18  FernFree
04/??/18  Gooki
04/??/18  LateStarter
~04/??/18 HappyMargo
~04/??/18 Mother Fussbudget
05/01/18  SwordGuy (at 60)
05/08/18  SwordGuy DW (SwordGuy isn't saying.   He wants to live.)
05/??/18  Alim Nassor
05/04/18  wordnerd and DH (at 30 and 36)
05/15/18  Markbike528CBX (at 53.5)
~06/01/18 Honeyfill  (at 60)
06/15/18  DavisGang90 (at 49)
06/25/18 MaybeBabyMustache (at 42)
06/29/18  aperture
06/29/18  CowboyAndIndian (at 59)
06/??/18  Cheddar Stacker
06/??/18  dbtx
06/??/18  Omalley
06/??/18  poppydog
06/??/18  randomgiraffe
06/??/18  SwissMiss
~06/??/18 Pylortes
07/??/18  AussieGirl
07/??/18  ChasesFish
07/??/18  Mr Griz
~07/??/18 BackAndForth
~07/??/18 cerat0n1a
~07/??/18 Freshwater
~07/??/18 SnidelyWhiplashStache
08/??/18  Mr Mark
08/??/18  NorCalistache
10/05/18  JumboShrimp
10/??/18  Fire1018
10/??/18  Happy
10/??/18  Irishtache
10/??/18  patches
11/??/18  DeSteeg
11/??/18  Kris
12/01/18  Vegasgirl (at 49)
12/??/18  EnjoyIt
12/??/18  yoda34
??/??/18  Blindsquirrel
??/??/18  Michread
??/??/18  Minnesota_mom
??/??/18  OzBeach -- WIGLO (When I Get Laid Off)
??/??/18  thriftycanadian
??/??/18  pecunia
« Last Edit: October 23, 2017, 06:44:36 PM by momcpa »

MaybeBabyMustache

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Re: 2018 FIRE cohort
« Reply #634 on: October 24, 2017, 07:34:02 AM »
Thanks, Momcpa!

DTaggart

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Re: 2018 FIRE cohort
« Reply #635 on: October 24, 2017, 11:28:56 AM »
Today the countdown widget on my computer rolled to double digits... 99 days to go!

I also found out yesterday that my husband, who has been teaching a community college class and plans on continuing to do this for a few more years since he enjoys it, picked up a second section of his class for next semester. So we'll have even more extra income to buffer our initial withdrawals.

Our stache is well beyond what I consider necessary thanks to the crazy market run-up, but I am working on amassing an extra wad of cash to do some home improvement projects once I am FIREd and have time/energy to do them. Of course I'm still contributing to all my tax-deferred accounts while still working, and not counting that towards the home improvement money. I'm pretty conservative in my estimates and have a lot of buffers and backup plans in place, but even I am starting to feel like "Holy fuck, this is really more than enough and I should just quit now!!" But I'm pretty sure I won't. 99 more days....

Gimesalot

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Re: 2018 FIRE cohort
« Reply #636 on: October 24, 2017, 12:54:38 PM »
I posted a few weeks back about securing housing in Montreal...

Well today, we finally got approved to rent a cabin in Washington State for two months.  So it's real.  There is no backing out now.  Both my husband and I are really ready to get started on FIRE, but I won't lie about us being scared shitless too.  We've done the math, we have the money, we have the flexibility, we have several fallback plans, but still, we are both a little nervous.

Retire-Canada

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Re: 2018 FIRE cohort
« Reply #637 on: October 24, 2017, 01:01:05 PM »
...but still, we are both a little nervous.

It's a huge life change on so many levels. Being apprehensive is totally normal. Good luck! I'm jealous. ;)

aperture

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Re: 2018 FIRE cohort
« Reply #638 on: October 25, 2017, 05:23:48 AM »
I am sticking out OMY until June, 2018 when I am eligible for full retirement.  Mostly I want to hit full retirement to have access to my pension in the event I determine a better place to use it than leaving it with MegaCorp. There is also a medical benefit that only kicks in when I am 65.  It is some $s to help supplement Medicare and I had not previously thought much of it. 

Monday, I red the fine print of my benefits manual (like you do) and noted this previously unseen language: "Retiree medical benefits for your spouse ...begin when retiree medical benefits begin".  My spouse will not be Medicare eligible when I am (she is 11 years younger), and the manual goes on to specify that in her case, coverage will be "similar to what is offered to an active employee..." Right now, health insurance for active employees is about $600/month and has no deductibles.  On the exchange, I suspect a 55 year old would pay twice as much and have a $3K deductible.

So, I found 11 years of inexpensive health insurance for my spouse this week...

Also, my counter hit 250 days this past weekend. I still feel zero surge of anticipation.  Work is still work.  I am still that guy that is too busy to remember your spouse's name or ask about your kids. But I am working on being different.  I am starting to talk to people more.  Baby steps. 

Gimesalot

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Re: 2018 FIRE cohort
« Reply #639 on: October 25, 2017, 08:36:18 AM »
I am sticking out OMY until June, 2018 when I am eligible for full retirement.  Mostly I want to hit full retirement to have access to my pension in the event I determine a better place to use it than leaving it with MegaCorp. There is also a medical benefit that only kicks in when I am 65.  It is some $s to help supplement Medicare and I had not previously thought much of it. 

Monday, I red the fine print of my benefits manual (like you do) and noted this previously unseen language: "Retiree medical benefits for your spouse ...begin when retiree medical benefits begin".  My spouse will not be Medicare eligible when I am (she is 11 years younger), and the manual goes on to specify that in her case, coverage will be "similar to what is offered to an active employee..." Right now, health insurance for active employees is about $600/month and has no deductibles.  On the exchange, I suspect a 55 year old would pay twice as much and have a $3K deductible.

On one hand I feel pissed that the benefits offered by my company are so crappy.  There has never been severance for those being laid off, even after 20 years of service.  There are no retiree benefits.  Now they even added a spousal insurance charge.  On the other hand, I am glad I don't have any golden handcuffs.  The only thing my job provides is health insurance and a paycheck so I can quit whenever.

In your case I would totally stick out the OMY to get sweet health insurance like that.

honeyfill

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Re: 2018 FIRE cohort
« Reply #640 on: October 25, 2017, 08:45:04 AM »
I am sticking out OMY until June, 2018 when I am eligible for full retirement.  Mostly I want to hit full retirement to have access to my pension in the event I determine a better place to use it than leaving it with MegaCorp. There is also a medical benefit that only kicks in when I am 65.  It is some $s to help supplement Medicare and I had not previously thought much of it. 

Monday, I red the fine print of my benefits manual (like you do) and noted this previously unseen language: "Retiree medical benefits for your spouse ...begin when retiree medical benefits begin".  My spouse will not be Medicare eligible when I am (she is 11 years younger), and the manual goes on to specify that in her case, coverage will be "similar to what is offered to an active employee..." Right now, health insurance for active employees is about $600/month and has no deductibles.  On the exchange, I suspect a 55 year old would pay twice as much and have a $3K deductible.

So, I found 11 years of inexpensive health insurance for my spouse this week...

Also, my counter hit 250 days this past weekend. I still feel zero surge of anticipation.  Work is still work.  I am still that guy that is too busy to remember your spouse's name or ask about your kids. But I am working on being different.  I am starting to talk to people more.  Baby steps. 


Great news about your wife's health care!  You are lucky about your company's retirement plan.  Our Megacorp cut out all health care benefits for both the employee and the spouse.  This means health care is our biggest unknown.  All we can do is budget a ridiculously large amount for the next 7 years until Mrs. Honeyfill hits 65.  Our back up plans include jiggering withdrawals to maximize Obama Care subsidies or possibly moving to another country for a few years. Does anyone have any other suggestions? (which don't include working longer) :-)
 

sol

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Re: 2018 FIRE cohort
« Reply #641 on: October 25, 2017, 10:59:22 AM »
Does anyone have any other suggestions? (which don't include working longer) :-)

The most common plan for Americans in your position is "try not to get sick".

DTaggart

  • Bristles
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Re: 2018 FIRE cohort
« Reply #642 on: October 25, 2017, 12:12:07 PM »
Well, plan A for me is the ACA with subsidies. If they ruin the ACA, I am hoping that the state of California, where I live and hope to stay, implements something reasonable (I think it will happen eventually, the question is when).

Plan B is to just buy private insurance straight from Kaiser (who we're with now and like), which will certainly put a dent in our discretionary spending, but based on the prices I'm seeing offered now should be manageable (accounting for prices rising with age).

Plans C-F involve some combination of hubby using his VA health care, getting cheaper, crappier plans, selling our house and moving to a lower COL area, earning more money with side hustles, or (worst case scenario) getting a real job again.

I thought long and hard about it and decided I'm willing to take the risk on this. I could spend another 5, 10, 25 years working until our nation pulls its collective head out of its ass long enough to come up with a reasonable solution that helps everyone, or until I have over-saved to such a ridiculous extent that I am prepared to pay sky-high premiums OOP forever,  or I am finally eligible for Medicare (which isn't even a guarantee anymore). But that would GUARANTEE I spend the best remaining years of my life being completely miserable.

I've had two co-workers die in the past year, both of which were quite close to traditional retirement. One was sudden, one spent about 9 months battling cancer. Bottom line is if I have to choose between a longer life span that requires working significantly longer, or a shorter life span where I can get in at least a few healthy years of freedom while I'm still young enough to enjoy it, I'll take quality over quantity.

honeyfill

  • Bristles
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Re: 2018 FIRE cohort
« Reply #643 on: October 27, 2017, 10:24:37 AM »
Just heard that layoffs are coming in January at Megacorp!! Who knows, I might be moving my date up from June.  Wish me luck everyone.

DavidAnnArbor

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Re: 2018 FIRE cohort
« Reply #644 on: October 27, 2017, 03:14:24 PM »
Just heard that layoffs are coming in January at Megacorp!! Who knows, I might be moving my date up from June.  Wish me luck everyone.

If so do you receive a severance package ?

SwordGuy

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Re: 2018 FIRE cohort
« Reply #645 on: October 27, 2017, 08:19:44 PM »
Just a tad over 6 months to go for us!  Woot!

chasesfish

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Re: 2018 FIRE cohort
« Reply #646 on: October 28, 2017, 06:01:15 AM »
Just heard that layoffs are coming in January at Megacorp!! Who knows, I might be moving my date up from June.  Wish me luck everyone.

I've now missed out on three rounds of layoffs.  Unfortunately our company has a revenue problem, and I lead a team on the revenue side of the house that's performing really well.

A severance package for me would BLOW THROUGH my number...golden parachute style.  There's hundreds of thousands of dollars locked up that I'm going to "walk away" from.  Its basically ransom money, a big chunk of my compensation is a 4-year IOU that they can claw back if I screw up or leave.  The only other way I can get it is to leave and have a competitor buy me out, but if I do that then immediately retire, its an ethical issue and I've wrecked my reputation in the industry for the rest of my life.

aperture

  • Bristles
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  • Location: Colorado
Re: 2018 FIRE cohort
« Reply #647 on: October 28, 2017, 07:29:27 AM »
Just heard that layoffs are coming in January at Megacorp!! Who knows, I might be moving my date up from June.  Wish me luck everyone.

I've now missed out on three rounds of layoffs.  Unfortunately our company has a revenue problem, and I lead a team on the revenue side of the house that's performing really well.

Sigh, my trendy Megacorp is dedicated to people/partnership.  We have not had layoffs in my 14 years.  I am working OMY for my golden parachute. If they would buy me out of my last year by a RIF, I would jump at it.

honeyfill

  • Bristles
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  • Age: 66
  • Location: Tucson
Re: 2018 FIRE cohort
« Reply #648 on: October 30, 2017, 09:20:23 AM »
No more info on the rumored layoff in January at Megacorp.  However, I just arranged my vacation and holidays for the rest of the year.  I'm taking every Friday off plus the Thanksgiving week plus the Christmas week.  And January 1 to boot.  I'm starting to get into the Retirement mindset!!

Monkey Uncle

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Re: 2018 FIRE cohort
« Reply #649 on: October 30, 2017, 07:03:14 PM »
Well, I went and done it.  Today I told the boss, my staff, and my co-workers that I'm leaving, and that January 5 will be my last day at work.

The boss was quiet and puzzled; clearly I caught him off guard.  I like my boss, so that was kinda difficult.

Most of my staff and co-workers, although surprised, were congratulatory.  Several of them openly expressed their envy.  Everybody is overworked and stressed out, so I get the feeling that a lot of folks would like to join me.

No backing out now!

 

Wow, a phone plan for fifteen bucks!