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General Discussion => Welcome and General Discussion => Topic started by: markbike528CBX on January 23, 2016, 12:57:36 PM

Title: 2019 fire cohort
Post by: markbike528CBX on January 23, 2016, 12:57:36 PM
Didn't  see  a 2019 fire cohort here yet.  Thread started.

Goal Nov 2019 (we finish turning 55).   

Mortgage and late-life student loans will be paid off, a key gatekeeper.

We could be FIRED before, but 2019 seems a reasonable goal.
Title: Re: 2019 fire cohort
Post by: PhilB on January 26, 2016, 04:00:02 AM
Count me in.  I was starting to worry there was something wrong with 2019 as it didn't have a thread!
Our target is summer 2019.  I'll be turning 53 and my wife turning 55.  We are just about FI now (2015 spending matched forecast sustainable income if retiring now), but the kids won't finish high school until 2024 so we would be unable to go travelling until then even if we did retire.  On good days I consider staying on PT after 2019.  On bad days we think about going now, but 2019 is the sweet spot as my wife would be able to access pension funds at 55 and we also have an endowment maturing. That makes it the first date that it all works from a cashflow viewpoint - if we go earlier we have to use the mortgage facility for cashflow, unless I'm lucky enough to get made redundant.  We're running a 2/3rds saving rate, so each year makes quite a difference financially, but neither of us really enjoys the job any more so we think 2019 will be the point when laziness trumps greed!
Title: Re: 2019 fire cohort
Post by: Parizade on February 02, 2016, 01:04:03 PM
Me too! I expect to be debt free and living a happily frugal lifestyle by summer of 2017, but I love to travel so a couple more years of income will give me a good travel budget.
Title: Re: 2019 fire cohort
Post by: madamwitty on February 02, 2016, 06:43:39 PM
I originally put myself in the 2020 thread but now am seriously thinking about 2019 as a possibility. We will most likely be "barebones FI" in 2019 (which I define as: able to support basic living expenses on a 4% WR but with discretionary spending constrained beyond my normal spending.)

I'm considering moving in summer of 2020 to be near family in Seattle. I'd like to quit a year ahead (2019) and have time to decompress and really understand what it would be like to raise our kids in SoCal vs. Seattle, not to mention simply enjoying being in California. I'd hate to move and then either regret we didn't do more "California" stuff while we were here, or worse yet, make an uneducated and regrettable decision about moving (or not). I am seriously excited about the prospect of wrapping up my primary career in the next 3.5 years and then only taking paid work if and when the mood strikes. So, call it a gap year leading into RE.

And if the market doesn't completely go to hell we may be "full FI" anyway...
Title: Re: 2019 fire cohort
Post by: Lowerbills on February 03, 2016, 01:10:06 PM
Originally I was thinking 2020 would be the year, but hoping to get there a year earlier.

Can anyone planning to FIRE in 2019 share some of their numbers?  Net worth, savings rate, annual spend, invested assets (stocks and bonds), rental property & income (if any), mortgage (rate and amount left), kids?, etc...

Just curious what the numbers look like for those of us aiming to FIRE in 2019, and what steps need to be taken in the next couple years.
Title: Re: 2019 fire cohort
Post by: PhilB on February 18, 2016, 11:05:46 AM
Happy to share my numbers / strategy.  Pretty much everything is in pensions to get the tax breaks. 
We were late starters on the FI game as we spent our twenties having fun (but never in debt), our thirties paying off a mortgage and then doubled the size of the house so had to pay that off.  In 2029 we should have £21k pa of final salary pensions kicking in between us and another £8k each of state pension each in 2031 (wife) and 2033 (me) which will give us more than we spent last year.  DC funds are therefore to bridge the gap from 2019, to provide added jam / travel budget and to help out the kids.  These funds currently stand at around £500k, mainly in my works pension scheme.  I'm currently putting in the max £40k pa to my pension and the whole of my wife's £20K part time salary goes into hers so the jam levels are going up rapidly, but there is a good chance that the upcoming budget here next month will throw a spanner in the works with changes to pension rules.
Post retirement the plan is for a high percentage of the bridging funds to be held in cash, with the long term funds probably in VLS80 selling 0.3% every month for an income as that seems like a relatively stress-free system to me.
Title: Re: 2019 fire cohort
Post by: markbike528CBX on February 19, 2016, 07:56:16 PM
.....
Can anyone planning to FIRE in 2019 share some of their numbers?  Net worth, savings rate, annual spend, invested assets (stocks and bonds), rental property & income (if any), mortgage (rate and amount left), kids?, etc...

I was going to be snarky and ask if you wanted SS numbers also, but then I realized that requested info is already on this forum.

  $1.5M after the latest dip
    0.5M  401k -- mostly S&P 500. 50k cash -- waiting to time the dip :-) near max input
    0.4M   Trad IRA. VISAX small cap value
    0.4M.   Taxable  VTSAX TOTAL stock. some VISAX
    0.03M  taxable random small cap
    0.05M. Roth mirrors random small cap 15k cash, from cash mergers --waiting to time the dip :-)
    0.025M gold

80k mortgage left.  Scheduled payoff by 55.  4.125%
  Zillow claims 300K house value which has to be BS
26k student loan 4.88%

expenses~70K including taxes
Age 51 and 51
Youngest kid mostly out of the house.
8.5 grand kids

Not included in FIRE calculation
Pension 4k/yr. leave now, start it now,  if I wait till 60 to start it then 11k
@55 8K/yr. or if I wait till 60 to start it then 19k
SS assumed 1/2. So ~ 13k/yr@ 62
wifes pension pretty small
Wife's 403 pretty small.

Savings rate 25% of gross

edit:  forgot another reason to wait tll 55,  the no-penalty 401k withdrawal.
If I get laid off earlier, then that reason is lost, which may move FIRE either direction

I also want to take DW on company-business work (~1 month) trips to Europe.
1/2 price tourism is better than full price.
Title: Re: 2019 fire cohort
Post by: Chrissy on March 02, 2016, 01:03:37 PM
Can anyone planning to FIRE in 2019 share some of their numbers?  Net worth, savings rate, annual spend, invested assets (stocks and bonds), rental property & income (if any), mortgage (rate and amount left), kids?, etc...

We're hoping that ONE of us could retire in 2019, but that doesn't mean one of us will.  At that time, we might also choose to move to the LCOL area where we own a paid-off house, I retire, and he picks up part-time contracting work to meet our much reduced expenses until our investments hit terminal velocity.

Net worth is $600k.  Hope to be at $900k at the end of 2019.

Savings rate is 50%.

Annual spend is $46k of which $13k is rent in a big city and $6k is carrying costs on a paid-off, rural lake house in another state that might become our forever home.

Invested assets:  80k ROTHs (index fund), 75k cash, $70k taxable brokerage (individual stocks), 40k 401ks (index funds), 30k in pension (50/50 stocks & fixed assets), $15k in SEP (index fund)... and a little more, but that's the majority.

No rental property or other income.  Current income from jobs:  $115k DH, $50k me.  We're 41 & 38 respectively.

We just had a baby 3 weeks ago, and are planning on more children.  We don't yet know how kids might affect our FIRE plans.
Title: Re: 2019 fire cohort
Post by: Livingthedream55 on March 16, 2016, 01:29:30 PM
November of 2019 for me. Will be age 60 and have a state govt (I'm in the U.S.) pension of $30,600 annually and an IRA worth at least $300,000 which I shouldn't need to draw on for a while. The IRA will basically be "SHTF" money if something major on the house needs replacement, etc. I plan to keep it untouched/growing for as long as I can. Eventually I will draw down no more than 4% annually. I will get minimal social security due to having a govt pension so not even factoring that in.

I downsized my home last year and carry only a $25,000 mortgage which will be paid off before 2019. I am maxing out my IRA contribution, saving a small amount in deferred compensation and also cash flowing my younger daughter through a state university. Older daughter has graduated, so both of my daughters will have zero education debt.

I plan on a side gig of doing taxes from January - April for the first few years to (1) see if I like it and (2) keep mentally sharp. I do taxes for free for about 8 family members, just using the online software that's out there (think Taxact). Been doing that for about six years. Also plan to get involved in causes I believe in and try to make some small corner of the world a little better.

Title: Re: 2019 fire cohort
Post by: markbike528CBX on March 17, 2016, 02:57:50 PM
Welcome all.

@madamwitty,  From what I hear the Seattle area real estate market is getting frothy. Maybe by the time you're ready it will have blown off some steam.     Tri-Cities is close, yet not too weird on prices.  It might depend on what your sweetspot for "close to relatives" is.   

@Livingthedream55  If I waited till 60 I'd have a similar pension, but I'm not sure I will want to (or will be able to) hang on that long.
Title: Re: 2019 fire cohort
Post by: madamwitty on March 17, 2016, 04:39:29 PM
@madamwitty,  From what I hear the Seattle area real estate market is getting frothy. Maybe by the time you're ready it will have blown off some steam.     Tri-Cities is close, yet not too weird on prices.  It might depend on what your sweetspot for "close to relatives" is.   

Haha, my sweet spot for "close to relatives" is "down the street" :-) But since DH gets to weigh it I might have to settle for "same city." I certainly wouldn't mind if the Seattle real estate market cools off by the time I get there, as long as the L.A. market (where I'll be selling) doesn't do it too!
Title: Re: 2019 fire cohort
Post by: Livingthedream55 on March 22, 2016, 01:32:56 PM
Welcome all.

@madamwitty,  From what I hear the Seattle area real estate market is getting frothy. Maybe by the time you're ready it will have blown off some steam.     Tri-Cities is close, yet not too weird on prices.  It might depend on what your sweetspot for "close to relatives" is.   

@Livingthedream55  If I waited till 60 I'd have a similar pension, but I'm not sure I will want to (or will be able to) hang on that long.

Yes, I'm already having a hard time staying motivated, but I try to keep my eye on the prize! I am switching jobs (same salary) in about a month which should dramatically increase my overall work-life balance.
Title: Re: 2019 fire cohort
Post by: Gerard on April 10, 2016, 04:04:51 PM
November of 2019 for me. Will be age 60 and have a state govt (I'm in the U.S.) pension of $30,600 annually and an IRA worth at least $300,000 which I shouldn't need to draw on for a while. [...] I downsized my home last year and carry only a $25,000 mortgage which will be paid off before 2019. [...] Also plan to get involved in causes I believe in and try to make some small corner of the world a little better.

This is very similar to my situation. I can draw my pension (both from work and from the govt) at 60, which will provide more than I need. I'm tempted by OMY syndrome, but because most of my friends and family live in a different city than I work in, I just wanna go. I'll have about $120K extra in savings by then, and that'll roughly double if/when I sell my work-city house.

People who need to be self-reliant for their retirement income may look at my savings goals and blanch, but my pensions will provide about twice my bare-bones requirements.
Title: Re: 2019 fire cohort
Post by: getoutsoon on April 28, 2016, 10:21:18 AM
Count me in.  Im officially eligible with 30 years of service in 2020 but I have over a year of accumulated sick and vacation that will work toward service credit.  So IM looking at April of 2019.  Already FI just need to hang in there for 3 more years so I can begin collecting my max pension.  If I leave now I will have to wait until 2026 to collect the same amount.  Dealing with politics, whining, laziness in the workplace is really wearing me down...would so like to leave now, but keep telling myself only 3 more years.  Anyhows..I will be 52 in 2019.  Im a late starting new dad (49) with twin babies (6 months), really looking forward to hanging out with them daily and teaching them to fly fish.  Wifey will still have to work for 15 more years..I sympathize with her ;)
Title: Re: 2019 fire cohort
Post by: markbike528CBX on April 28, 2016, 11:38:50 AM
getoutsoon:   Welcome aboard.     I keep thinking I'm young enough to have babykin, but I'm 51 and have stepgrandkids of 10yr old.  My wife is 5 weeks older than I am, so I'm now stuck at realizing I AM that old.  :-)    Sounds like it will be fun to hang out with lots of time for the kids.   Never mastered fly fishing since I have no patience.
Title: Re: 2019 fire cohort
Post by: ysette9 on April 29, 2016, 02:05:49 PM
@ getoutsoon:
Quote
Already FI just need to hang in there for 3 more years so I can begin collecting my max pension.  If I leave now I will have to wait until 2026 to collect the same amount.  Dealing with politics, whining, laziness in the workplace is really wearing me down...would so like to leave now, but keep telling myself only 3 more years.  Anyhows..I will be 52 in 2019.  Im a late starting new dad (49) with twin babies (6 months), really looking forward to hanging out with them daily and teaching them to fly fish.  Wifey will still have to work for 15 more years..I sympathize with her ;

I'm a little confused. If you are FI now, why are you working another 3 years and why is your wife staring at 15 long, hard years of labor?
Title: Re: 2019 fire cohort
Post by: getoutsoon on May 02, 2016, 08:02:04 AM
So yes.  I could retire today with my savings and be fairly comfortable.  I have decided to stay 3 more years to receive my max pension with thirty years of service.  If I don't stay the three years I wont have 30 and will in turn have to wait 10 years to collect my pension benefit at the same rate.  Wife has chosen to continue to work..she knows she has the option to walk away if chooses at anytime.
Title: Re: 2019 fire cohort
Post by: cerat0n1a on May 31, 2016, 02:46:46 AM
I'm going to count myself in for a May/June 2019 finish too, as that's when youngest son will have finished school. Probably have enough to retire now, if we downsized our house. Many of our post-work plans involve slow travel and kids' study & exams over the next few years take priority over that. Three more years of work will also cover university costs nicely and give a bigger safety margin. It's possible that I might quit earlier; only a financial disaster would make it later than this.
Title: Re: 2019 fire cohort
Post by: markbike528CBX on June 03, 2016, 11:09:09 AM
Finally I have an actual date:
              December 29th 2019 , my marriage anniversary, so I better remember it  :-)

Reasons why (mostly for my memory)
   1) I will be 55
            the 401K will be open without penalty, I think this will be mostly for flexibility and tax (future RMD minimization), not need
            the pension "70 points" retirement eligibility opens up
            health insurance continuance via retiree plans is available --not for 70 points
   2) If we are not ready by then, then we will never be
   3) Gives me time to get a joint replaced on company time
   4) Other dates in December are not good for sad memory reasons
   5) SHTF/ TEOTWAWKI can happen between now and then without much effect if there is _any_ level of bounceback.
   6) I will have enough taxable alone to span the gap between 55 and 59.5, with some left over, even at my max spend
   7) I will have beat my dad to a earlier retirement, just for fun
   8) House paid off, as I don't want a mortgage in retirement, even though the rate isn't bad
   9) I'll have time to calmly work out my withdrawal strategy as a theory, not as I'm in the middle of it.
   x+1) Other reasons to be added later........

Of course, it could be sooner due to me or the company parting ways.

edits for ongoing thoughts
Title: Re: 2019 fire cohort
Post by: RetirementDreaming on June 05, 2016, 06:01:51 PM
We are in for Sept 2019 unless we decide to go for Q4 bonuses then it would be 1/2/20.    Kids will be 13 and 11 years old.  We plan to stay in the current house until they graduate from high school so we are planning on paying a mortgage for 7-8 years after FIRE.  After that we will sell the house and buy something for cash. 

Biggest risk is our jobs.  We have the same employer.  Last 2 years they laid off 4% & 12% of the workforce.  Iím beginning to think we both may not last 3 more years.    We are 62% of our goal.  Originally our plan was 2021 but Iím hoping with some luck and keeping spending in check we make 2019 happen. 
Title: Re: 2019 fire cohort
Post by: elaine amj on June 06, 2016, 09:56:22 AM
I wanted to FIRE this year. But DH has asked that we stay working for a few more years as he is worried about large unexpected expenses in the next couple of years. I'll give him until 2019 and then I'm OUT. He will likely do OMY or (my hope) switch to teaching online on a part-time basis so we can be mobile.

In 2019, my oldest child will be starting university. The latest budget says that families under a certain income level will qualify for FREE tuition. If we FIRE, she would qualify. Would save us about $6-7k/year (maybe more if they qualify for other needs-based aid). X2 when her brother joins her the following year. That's a good argument :)

Plus, I turn 40 - would be a fabulous way to celebrate my 40th birthday!

We have about $680k now, not including a house that will be paid off in 2 months. Once the mortgage is done, we'll have an extra $1200/mo to plow into savings. I'd like to say we spend about $40-45k/year. But now that I am tracking my spending, it's looking more like $50-$55k/yr. Working hard on getting the spending DOWN. We do have several different small pensions that will help. And living in Canada means no crazy healthcare worries (yes, we have to have some money set aside, but not as many unknowns as in the US. Free healthcare has its advantages).
Title: Re: 2019 fire cohort
Post by: MissNancyPryor on June 28, 2016, 09:33:05 PM
Hey Nineteen.....  cue Don Fagen. 

My outer marker is March 29th, 2019, the last Friday before my 50th birthday.  It would be nice to graduate ahead of my class but realizing that I am not mentally ready I am setting my date. 

NW is $2.1M including a debt-free home at $510K.  I am concerned with the amount of liquidity that can carry us until we an tap into our over-funded 401(k)s between age 50 and 59 1/2.  Our non-retirement savings accts and investments are about $290K and I think we want about $600K in there as the bridge to cover lumpy spending until officially tapping into those funds.  I am a cynic and imagine that there will be a means test for SS in the future but if not we will grab that at age 62 and it should be about $42K annually which we figure is complete gravy if it exists at all for us. 

Way over funded, I know.  Last time I looked FireCalc said we will have 95% success at 75K annually for 44 years after my RE since I plan to expire precisely at 93.     

DH will probably go longer than me before retirement, maybe a couple years. 

Can I sit with the cool kids here while I work this out in my head?   
Title: Re: 2019 fire cohort
Post by: markbike528CBX on July 01, 2016, 11:22:56 AM
 MissNancyPryor, welcome, we're flattered to be called the cool kids, https://en.m.wikipedia.org/wiki/Cool_Kids_(album), although this cohort thread doesn't seem as active as some others nearby in time.

If Mr-MissNancyPryor waits till 55 then his current 401k opens up penalty free.

I concur on the 600K 50-59.5 value.   My wife plans a precise age 96 demise.

Tapping the 401k early will minimize RMD later.

Title: Re: 2019 fire cohort
Post by: MissNancyPryor on July 01, 2016, 11:43:35 AM
Gotta love the hair bands of the 80's.  Such a Gen X thing to me. 

It was a couple of years ago we realized we were way overfunded on the 401(k), and I calculated that if we just completely shut off all contributions entirely we would be totally golden from the growth of the existing accounts.  I looked into some alternative - read 'early' - withdrawal methods at that time.  We decided to leave the eggs whole for now and have never stopped the contributions.   

I doubt we would leave the 401(k) in DH's employer plan and I hope he does go before 55.  I don't see us as 72t-ers right now either.  I do want big RMDs later, not worried about taxes or a lack of OCare subsidy on that larger realized income. 

I will keep these options in mind if I do end up having some work-stress-related health event that makes me need to leave work sooner than planned though-- some days that seems more likely than others. 
Title: Re: 2019 fire cohort
Post by: dude on September 22, 2016, 12:16:26 PM
Was originally in the 2020 cohort by virtue of wanting to hang in until the year of my 55th birthday for penalty-free access to my TSP, but then last year Congress passed the law allowing retiring LEOs to access the TSP in or after the year of their 50th birthday.  So now my retirement eligibility date, May 7, 2019, is my operative FIRE date -- though there are good reasons for me to stick around until December 2019.  Either way, I don't see myself working in this job in 2020.
Title: Re: 2019 fire cohort
Post by: markbike528CBX on September 22, 2016, 01:57:36 PM
Yo dude, that is waaaay gnarly!    - sorry the '80's thing just hit to hard to ignore.

Welcome.

Like you I'm probably moving up the date ( still 2019), since I realized that I have access to my 401k as of 1/1/19, not just on my actual birthday(55 in 2019).

edit to fix spelling of waaay
Title: Re: 2019 fire cohort
Post by: dude on September 23, 2016, 06:00:25 AM
Yo dude, that is waaaay gnarly!    - sorry the '80's thing just hit to hard to ignore.

Welcome.

Like you I'm probably moving up the date ( still 2019), since I realized that I have access to my 401k as of 1/1/19, not just on my actual birthday(55 in 2019).

edit to fix spelling

Yep, originally I was going to go in Jan 2020 for the same reason, then Congress gave us that gift!  Truth is, state and local LEOs were already entitled to access their accounts at 50, but the Feds got left out somehow, so the disparity was corrected after much lobbying by Fed LEO groups.
Title: Re: 2019 fire cohort
Post by: oldtoyota on September 25, 2016, 12:01:33 PM
So glad to find this thread! I started one earlier this month because a search did not reveal this one. I was wondering where all of you were. =-)
Title: Re: 2019 fire cohort
Post by: Enigma on October 12, 2016, 09:56:27 AM
Okay well I have tracked a few different financial forums.  After a lot of reading I have decided that I will plan to RE in 2019.  I already feel that I am FI with residual income from investment properties.  Not to mention this has been a pretty good year for me with my investments.

RE is a new concept for me and I have only really been thinking about it the past 3 months.  If I can wait till 2019 then I should have no issue with RE and continuing to maintain wealth and increase net worth.

I expect to be debt free (or very close) and living a lavish lifestyle by independence day of 2019.
Title: Re: 2019 fire cohort
Post by: SamIAm38 on October 19, 2016, 06:22:26 AM
I'm hoping to semiretire in may 2019, so does that put me in this group?

27 now, NW 125k.
Trying to sell my house next year to bump be up to 275k.
Trying to make/save enough to get me to 500k in May 2019. May because I can front load my 401k and build up my emergency fund beginning of the year 2019 before I call it quits.
Even if I don't get to 500k I may call it quits anyways since I will likely do more work later on. The minimum goal is to transition out of corporate america and get into teaching, start ups and short term contracts on my schedule.

Putting a date on this goal has been super helpful in keeping me motivated and driven. Really exciting! I feel so lucky to be put in a situation where I can do this so quickly, it will be great to take advantage of that and leave the 9-5 grind and shift gears to self improvement and experiences.
Title: I'm in! FIRE on July 31, 2019
Post by: Thedividebyzero on October 22, 2016, 02:15:06 AM
First post.  So cool to have this forum. 

Age = 43 (I wish I had seen the light sooner)
Married with 3 children.  Oldest is 15. 
FIRE target -  July 31, 2019 (hope to collect one last bonus before bidding a fond farewell to corporate life)
Current NW =$ 890k
SR = 75%
FI number = $1.5MUSD

Good luck everyone. 

- Zero
If only I could divide by zero.


Title: Re: 2019 fire cohort
Post by: oldtoyota on October 23, 2016, 07:31:39 AM
I'd love to get answers from other 2019ers.

I started a business a year ago and did well. I'm deciding whether I want to continue the business or take the route of finishing out my next three years in a job.

Each path has upsides and downsides and neither is more secure than the other, so I am not sure what to do next.

My overall goal is to retire in three years, and so I think it makes sense to decide based upon which will get me to the goal in an efficient way. That's why I'm considering a job instead of continuing the business.

Pros and cons of each.

JOB
good
*steady income
*benefits
*interesting work, chance to learn more

bad
*could be laid off anytime
*less time with family
*routine schedule
*commuting

BUSINESS
good
*flexible schedule
*income good in past
*creative--can make decisions without a committee
*more time with family yet business concerns loom

bad
*can be lonely working at home
*future income uncertainty
*learning curve: figuring out what to say yes/no to based on my goals
*learning curve 2: figuring out what I don't know


Any thoughts on how to decide?

Title: Re: 2019 fire cohort
Post by: SamIAm38 on October 23, 2016, 10:40:01 AM
2019 isn't that far away. Can you do both? Do 40 hour weeks at the salary job and do the business on the side to get the benefits of both? I've always liked the idea work life balance and try to be reasonable with my workload but now that I have a set date I have been much more inclined o put in the extra hours and effort to ensure I reach my goals. I'm currently working a salary job, tutor on the side and am potentially going to do some part time consulting work. It sucks, but keeping in mind that I'm almost there and this will make me meet my goal makes it worth of for me.


Sent from my iPhone using Tapatalk
Title: Re: 2019 fire cohort
Post by: markbike528CBX on October 23, 2016, 10:46:08 AM
...
I started a business a year ago and did well. .......

Pros and cons of each.

JOB...
bad
*could be laid off anytime.   
??? this is bad with FU money AND side business already started?? says markbike528

BUSINESS
good
.......

bad....
*learning curve: figuring out what to say yes/no to based on my goals
--- putting down a yoke that you've picked up voluntarily might be difficult  ---says markbike528

Any thoughts on how to decide?
Sorry, no real help here.
Disclosure: I've been a corporate drone all my working career.



First post.  So cool to have this forum. 
.......

Good luck everyone.

- Zero
If only I could divide by zero.
Welcome! 
 Some people think if you divide by zero you get infinity (...and beyond!)



I'm hoping to semiretire in may 2019, so does that put me in this group?
Yup, you're welcome here!

<looks around ....sees no Internet Retirement Police>
<whispers ... we won't tell>
Title: Re: I'm in! FIRE on July 31, 2019
Post by: oldtoyota on October 23, 2016, 08:19:48 PM
First post.  So cool to have this forum. 

Age = 43 (I wish I had seen the light sooner)
Married with 3 children.  Oldest is 15. 
FIRE target -  July 31, 2019 (hope to collect one last bonus before bidding a fond farewell to corporate life)
Current NW =$ 890k
SR = 75%
FI number = $1.5MUSD

Good luck everyone. 

- Zero
If only I could divide by zero.

Welcome!

Ah, I think we all wish we'd learned sooner. I was frugal but not to the level I am today. Live and learn!

With your current NW, it sounds like you didn't mess up too horribly. ;-)

Title: Re: I'm in! FIRE on July 31, 2019
Post by: Thedividebyzero on October 24, 2016, 04:53:00 PM
First post.  So cool to have this forum. 

Age = 43 (I wish I had seen the light sooner)
Married with 3 children.  Oldest is 15. 
FIRE target -  July 31, 2019 (hope to collect one last bonus before bidding a fond farewell to corporate life)
Current NW =$ 890k
SR = 75%
FI number = $1.5MUSD

Good luck everyone. 

- Zero
If only I could divide by zero.

Welcome!

Ah, I think we all wish we'd learned sooner. I was frugal but not to the level I am today. Live and learn!

With your current NW, it sounds like you didn't mess up too horribly. ;-)

Thanks for the comment and the welcome.  I have always been frugal as well, except for the purchase of that brand new Toyota SR5 4X4 3 days after I graduated from college, I've mostly made good big purchase decisions.  My big mistake was not understanding in a definitive way how my savings rate would impact the years required to retire and totally underwhelming my 401K contributions for the first 10 years of my working life.  If I had done the math in my mid-20's, I think I would have put more of a priority on saving. 

Without the significant growth in my salary over the last 10 years, my networth would be much lower.  I got lucky. 

By the way, I drive a 1994 4 runner now.  It has 250k miles on it and it is beautiful!  :)
Title: Re: I'm in! FIRE on July 31, 2019
Post by: oldtoyota on October 27, 2016, 12:50:47 PM

My big mistake was not understanding in a definitive way how my savings rate would impact the years required to retire and totally underwhelming my 401K contributions for the first 10 years of my working life.  If I had done the math in my mid-20's, I think I would have put more of a priority on saving. 

Without the significant growth in my salary over the last 10 years, my networth would be much lower.  I got lucky. 


Almost the same here. If I'd understood more about the savings rate earlier in life, I'd already be done!
Title: Re: 2019 fire cohort
Post by: oldtoyota on October 28, 2016, 01:17:35 PM


I expect to be debt free (or very close) and living a lavish lifestyle by independence day of 2019.

Best independence day ever. =-))
Title: Re: 2019 fire cohort
Post by: VoteCthulu on November 11, 2016, 12:47:21 PM
FIRE October 15, 2019 is the plan. I want 500k invested and a paid off house, and today I have 430k and owe 120k on my house, so I need to save about 190k in 3 years. Hopefully I can keep working for another 3 years without losing my mind.

Do others find that having a specific date concentrates the mind to forge ahead, or is it a constant distraction?
Title: Re: 2019 fire cohort
Post by: Thedividebyzero on November 11, 2016, 05:04:43 PM

Do others find that having a specific date concentrates the mind to forge ahead, or is it a constant distraction?

For me it is a little of both.  Having a date and goal is very motivating and dreaming about the future is a favorite past time.   Additionally, I have found that my work related stress is on a steady downward trend that is inversely proportional to my NW

The flip side is that sometimes my fixation on the goal comes at the expense of appreciating the here and now.  My DW, who is awesome beyond description and completely bought in to doing what it takes to achieve the goal, has told me to talk to her when we are six months out.  She's more interested in the now.  She is a zen goddesses.  :)

.
Title: Re: 2019 fire cohort
Post by: oldtoyota on November 12, 2016, 08:00:01 PM
I like the idea of having a date. I'll with June 30, 2019 for now.

Title: Re: 2019 fire cohort
Post by: Iplawyer on November 13, 2016, 08:12:15 AM
Hello - 2019 for me too.  We have over $2M in 401k but my husband is over 60 so no issue there. We have $250K in Roth. We have a house with $1.6M in equity that we will sell by then.  We will be debt free and own a smaller second home in LCOL area where we will live. We plan on a 4% withdrawal rate.  So we will have a very nice standard of living.  The only thing that I question is health insurance for me for 10 years.  I was counting on the ACA - now I don't really know what we'll do.
Title: Re: 2019 fire cohort
Post by: VoteCthulu on November 13, 2016, 10:59:05 AM
With 144k per year income (4% of 2m+1.6m) I doubt you would have qualified for an ACA subsidy anyway. At 20k per year, I'll qualify for my state's free health care if it gets too expensive for me to afford.

The real trouble will be for those people who recently retired depending on the ACA subsidies and might be in trouble if/when they go away.
Title: Re: 2019 fire cohort
Post by: Iplawyer on November 13, 2016, 11:22:13 AM
Well - there is also the issue of actually being able to get insurance.  I could only get it as an employee because of past health history before the ACA.  So I wasn't looking for a subsidy - I was looking for just being able to get it.  That is up in the air now.
Title: Re: 2019 fire cohort
Post by: VoteCthulu on November 13, 2016, 10:28:13 PM
That's one of the two parts of the ACA that Trump wants to keep, so I wouldn't worry too much at this point. Next year we'll see what actually gets changed, and anything that survives is unlikely to find a more harsh opposition after Trump.
Title: Re: 2019 fire cohort
Post by: markbike528CBX on December 08, 2016, 01:40:04 PM
I guess I'm back to my original date of Dec 29th 2019. Dang and other words :-)  I had been tempted to 1/1/2019 (~2 years vs ~3 years).

While by law I can withdraw from a 401K without penalty, my employer won't let me take partial withdrawals if I retire before my 55th birthday.  I need to be a "retired person" per the 70 points rule, which is:

 age 55 AND  (age+service) >= 70  retirement in order to have access to partial withdrawals.   

If I take the whole thing, I'd have to pay lots of taxes, unless I roll it over to a IRA, in which case it is locked down till 59.5.  I guess I could then take SEPP or something from the Rollover IRA, but that seems complicated and inflexible.
Title: Re: 2019 fire cohort
Post by: SamIAm38 on December 08, 2016, 01:41:51 PM
I guess I'm back to my original date of Dec 29th 2019. Dang and other words :-)  I had been tempted to 1/1/2019 (~2 years vs ~3 years).

While by law I can withdraw from a 401K without penalty, my employer won't let me take partial withdrawals if I retire before my 55th birthday.  I need to be a "retired person" per the 70 points rule, which is:

 age 55 AND  (age+service) >= 70  retirement in order to have access to partial withdrawals.   

If I take the whole thing, I'd have to pay lots of taxes, unless I roll it over to a IRA, in which case it is locked down till 59.5.  I guess I could then take SEPP or something from the Rollover IRA, but that seems complicated and inflexible.

Why not try a Roth IRA pipeline?


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Title: Re: 2019 fire cohort
Post by: markbike528CBX on December 08, 2016, 03:21:46 PM
....If I take the whole thing, I'd have to pay lots of taxes, unless I roll it over to a IRA, in which case it is locked down till 59.5.  I guess I could then take SEPP or something from the Rollover IRA, but that seems complicated and inflexible.
Why not try a Roth IRA pipeline?

Also seems complicated, and isn't there a 5 year wait for the funds availability, or is that just for new Roths?
Title: Re: 2019 fire cohort
Post by: SamIAm38 on December 08, 2016, 03:24:57 PM
....If I take the whole thing, I'd have to pay lots of taxes, unless I roll it over to a IRA, in which case it is locked down till 59.5.  I guess I could then take SEPP or something from the Rollover IRA, but that seems complicated and inflexible.
Why not try a Roth IRA pipeline?

Also seems complicated, and isn't there a 5 year wait for the funds availability, or is that just for new Roths?
Yes 5 years, I'm planning on using taxable accounts while I do the pipeline when I pull the trigger for semi retirement


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Title: Re: 2019 fire cohort
Post by: markbike528CBX on December 08, 2016, 07:30:40 PM
If I retire @55   + 5 years means the point  of the pipline is moot.
Title: Re: 2019 fire cohort
Post by: cerat0n1a on December 09, 2016, 02:47:44 AM
I'm going to count myself in for a May/June 2019 finish too, as that's when youngest son will have finished school. Probably have enough to retire now, if we downsized our house. Many of our post-work plans involve slow travel and kids' study & exams over the next few years take priority over that. Three more years of work will also cover university costs nicely and give a bigger safety margin. It's possible that I might quit earlier; only a financial disaster would make it later than this.

Just providing an update - seems funny looking back on this from 6 months ago. Two unexpected events pushed my NW up past my original FIRE target within 3-4 months of posting. The post-Brexit referendum fall in the pound, bumped the part of my portfolio held outside Britain (most of it) up significantly in £ (but not US$) terms. The takeover of my employer caused a significant uplift to the value of my shares and also my options to vest immediately. Still expecting to keep working until 2019, but I'm about to change jobs within the same company to one with a little less responsibility (and less pay.)
Title: Re: 2019 fire cohort
Post by: Livingthedream55 on December 09, 2016, 06:21:21 AM
Although I originally was aiming for November of 2019 I think now I could easily do it when I turn 59 1/2 so May of 2019. The difference in my monthly pension amount if I waited those six months is really negligible and I'm thinking when I am that close I won't want to wait. I'm already obsessed and there's still 2 1/2 years to go!

:0 )
Title: Re: 2019 fire cohort
Post by: Enigma on December 14, 2016, 05:22:26 AM
Can anyone planning to FIRE in 2019 share some of their numbers?  Net worth, savings rate, annual spend, invested assets (stocks and bonds), rental property & income (if any), mortgage (rate and amount left), kids?, etc...

I am sure I am an outlier...

Current Net Worth (Assets - Liabilities): $990k US
Current Retirement Accts (Stocks/Bonds): 130k (currently maxing IRA/401k)
Current Savings Rate: 60% (ish)
Avg Spend (3-4k/month)
Taxable Invested Assets (Stocks/Bonds): 1k growing slowly (Retirement growing rapidly)
Rental property: 1.1Mil (money not tied down goes)
Mortgage Left: 270k @ 5% (meaning 75% of rental properties paid off)
Rental Income: 15k/month, Insurance/Taxes/Repairs 6-7k/month, mortgage 3k/month
6-Fig IT Computer job in DC area (HCOL area)
 *Master's degree + 15 IT certifications + 8 yrs of experience

No kids or sig other
Aggressively paying off my rental property mortgage with every penny not glued down. eFund is nothing more than leveraging a 0% APR credit card (excellent credit) or not paying extra principal towards my mortgage
Title: 2016 YE update
Post by: Thedividebyzero on December 18, 2016, 02:10:49 AM
Thought I would drop an almost-year-end update on the Zero's progress towards a July 2019 FIRE.

Thanks to a continued rising tide of stock valuations, we are now projecting to achieve FI a few months ahead of our target.  If we can keep this going for another couple years, I might just hit the magic number before my 46th birthday!

I still feel uneasy with what appears to be an overvalued US market and fully expect the Trump effect that seems to be influencing the markets to vaporize once people realize just what a mistake we have made in electing this buffoon, but hey, may as well enjoy the optimism while we can. 

NW = $935K USD
Monthly Gain = $35K
FIRE Target = $1.5M USD
SR = ~75%
Projected FIRE = April 2019

As much as I hate watching the news these days, I will be paying close attention to just how many changes appear in the offing for the ACA.  Significant changes to the ACA will certainly be cause for a re-examination of our FIRE plans.

Happy Holidays and best wishes!

- Zero
Title: Re: 2019 fire cohort
Post by: oldtoyota on December 18, 2016, 06:06:53 AM
Although I originally was aiming for November of 2019 I think now I could easily do it when I turn 59 1/2 so May of 2019. The difference in my monthly pension amount if I waited those six months is really negligible and I'm thinking when I am that close I won't want to wait. I'm already obsessed and there's still 2 1/2 years to go!

:0 )

=-) It seems to happen to many of us that our time to RE grows shorter as we gain more experience doing what's needed to make it happen. A good market helps, too.
Title: Re: 2019 fire cohort
Post by: oldtoyota on December 18, 2016, 06:08:26 AM
Can anyone planning to FIRE in 2019 share some of their numbers?  Net worth, savings rate, annual spend, invested assets (stocks and bonds), rental property & income (if any), mortgage (rate and amount left), kids?, etc...

I am sure I am an outlier...

Current Net Worth (Assets - Liabilities): $990k US
Current Retirement Accts (Stocks/Bonds): 130k (currently maxing IRA/401k)
Current Savings Rate: 60% (ish)
Avg Spend (3-4k/month)
Taxable Invested Assets (Stocks/Bonds): 1k growing slowly (Retirement growing rapidly)
Rental property: 1.1Mil (money not tied down goes)
Mortgage Left: 270k @ 5% (meaning 75% of rental properties paid off)
Rental Income: 15k/month, Insurance/Taxes/Repairs 6-7k/month, mortgage 3k/month
6-Fig IT Computer job in DC area (HCOL area)
 *Master's degree + 15 IT certifications + 8 yrs of experience

No kids or sig other
Aggressively paying off my rental property mortgage with every penny not glued down. eFund is nothing more than leveraging a 0% APR credit card (excellent credit) or not paying extra principal towards my mortgage

What is your target $ goal? Also, does your NW include money paid for houses?
Title: Re: 2019 fire cohort
Post by: Enigma on December 19, 2016, 05:49:36 AM
What is your target $ goal? Also, does your NW include money paid for houses?

My target $ goal is more of a "Pay off all mortgages & be debt free" which should be right around $1.4Mil US.  I have had $966k in loans to date with all but $270k paid off.  My NW does include money paid for properties.  I have a link to my financial journey below which I plan to update at the end of Dec.  Also my NW does NOT include where I am currently living (primary residence an apartment in the DC area).

http://forum.mrmoneymustache.com/journals/enigma's-personal-financial-journey-and-goals/
Title: Re: 2019 fire cohort
Post by: itchyfeet on December 19, 2016, 11:42:42 AM
I guess this my home for now, although maybe it'll be 2018 if good markets and good luck at work hold out.

Currently I am thinking June 2019.

We just ticked off 80% of FIRE target...... or we are at 100% if we commit to spending 20% less lol....... or we are at 96% if we take a 5% WR..... or we could live in a cheaper home.... etc etc

Whatever way we look at it not too much further to go and options aplenty!

If we continue through to 2019, I'll be 47 and my DW 41. Certainly more than enough years spent enduring office politics. Almost time to devote energy to something else.

Title: Re: 2019 fire cohort
Post by: VoteCthulu on December 21, 2016, 09:32:07 AM
End of 2016 update.
Status: On Track

Investable Assets (all numbers in thousands of USD).
272 in 401k
118 in Roth IRA
7 in HSA
81 in taxable
Total is 478

Debt
122 remaining on mortgage.

Budget for 2016
42 Savings
20 Taxes
19 Mortgage
13 Living expenses
2 Non-annual expenses (a car this year, a roof a few years ago, probably a water heater soon, etc.)

So to make my retirement goal of $500k and a paid off mortgage in less than 3 years from now, I'll need another $144k. If I keep my savings rate the same and get any investment returns, I should hit it sometime in 2019.
Title: Re: 2019 fire cohort
Post by: Roboturner on December 21, 2016, 02:10:23 PM
Hoping in! 56% of the way there, hope to be FI oct 2018 and RE Mar 2019!
Title: Re: 2019 fire cohort
Post by: SamIAm38 on December 21, 2016, 02:26:59 PM
Hoping in! 56% of the way there, hope to be FI oct 2018 and RE Mar 2019!

That's crazy, I'm at 55-56% too.

Anybody else hoping for a stock market dip next year to help get to those 2019 goals?


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Title: Re: 2019 fire cohort
Post by: Roboturner on December 21, 2016, 02:33:30 PM
Hoping in! 56% of the way there, hope to be FI oct 2018 and RE Mar 2019!

That's crazy, I'm at 55-56% too.

Anybody else hoping for a stock market dip next year to help get to those 2019 goals?


Sent from my iPhone using Tapatalk

I could go for 2016 over and over, Big dip in February before a huge run up? sign me up! Also good to see the percentages match up haha
Title: Re: 2019 fire cohort
Post by: itchyfeet on January 03, 2017, 09:24:05 AM
55%-56% of desired stache already saved....

It's pretty impressive that you will save 44% of your retirement Stache in the last 2 years of working. I thought I was being optimistic aiming for to accumulate 20% in 2 years.

20% of 25x annual spending is 5x annual spending. I will be happy if I can save 5 years of spending in just 2 years. Maybe I am being too conservative on the growth I can expect on my exisiting stache.

Of the 44% remaining to be accumulated, what will come from new savings versus investment returns?
Title: Re: 2019 fire cohort
Post by: SamIAm38 on January 03, 2017, 10:27:42 AM
55%-56% of desired stache already saved....

It's pretty impressive that you will save 44% of your retirement Stache in the last 2 years of working. I thought I was being optimistic aiming for to accumulate 20% in 2 years.

20% of 25x annual spending is 5x annual spending. I will be happy if I can save 5 years of spending in just 2 years. Maybe I am being too conservative on the growth I can expect on my exisiting stache.

Of the 44% remaining to be accumulated, what will come from new savings versus investment returns?

How are you projecting your growth? I'm trying to be conservativish, what I have been doing is project 7% interest a year for my current stash plus whatever I invest. So I'm only planning for market growth for my current sum. Projected just short of the total sum I'm wanting, trying to do it that way on purpose to keep me focused and motivated.


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Title: Re: 2019 fire cohort
Post by: itchyfeet on January 03, 2017, 08:28:14 PM
I do have a spreadsheet, but Am on my phone....

Basically, I have 20x saved already. If that is invested for 2 years at 7%, it will increase by around 15% so that gets me to 23x. I have a saving rate of about 50%, so in 2 years I will save 2 years of spending. That Means I will go from 20x to 25x in 2 years.

To go from say 14x to 25x in 2 years most probably means your savings rate is far more than 50%.

One other thing I would caution on is that if 7% is the gross return then you will need to adjust your expenditure forward by CPI for the 2 years as well. If 7% is the real return, then fine.
Title: Re: 2019 fire cohort
Post by: Trifele on January 04, 2017, 04:03:50 AM
OK -- I'm in!  Target FIRE date = 8/1/19.  Possibly a few months earlier . . .

We are at 77% for our stash goal, which is $1.1M  ($750k investments plus $350k paid off house equity).  Stash is in 401k, Roth, 457, and taxable.  Should give us enough of a "mix" for good early withdrawal options. 

We are the travelin' kind.  As soon as we FIRE we are hitting the road for three months to celebrate.  If the dollar is still doing ok against the Euro we are going to Europe.   

Thanks for this thread!!   When I count the number of days or weeks it seems far away, but when I read all these posts it cheers me up to no end. 

 
Title: Re: 2019 fire cohort
Post by: itchyfeet on January 04, 2017, 11:15:12 AM
Welcome aboard Trifele. 2019 is gonna be one fine year!!! We will be traveling extensively too, but
Mostly in Central America.

Played with my spreadsheet today. Lol.

We will see what happens in the next 2 years. We will either finish up in Dec 18 or June 19. DW is a teacher so we'll finish at the end of a term.

We are targeting 25x, and if need be we will do some short term contract work Post Fire if the market doesn't deliver in the first few years.
Title: Re: 2019 fire cohort
Post by: Iplawyer on January 05, 2017, 08:35:19 AM
That's one of the two parts of the ACA that Trump wants to keep, so I wouldn't worry too much at this point. Next year we'll see what actually gets changed, and anything that survives is unlikely to find a more harsh opposition after Trump.

I cannot even parse these words in any way to understand what you are saying.  But the first actions of Congress are starting and they are dismantling ACA.  And if they keep things like pre-existing conditions  - insurance companies will go out of business without subsidies to account for taking people with pre-existing conditions.  I think health insurance is going to be the single biggest issue I face in looking at ER. And - probably a few others here. 
Title: Re: 2019 fire cohort
Post by: Enigma on January 05, 2017, 11:37:48 AM
It was stupid of the Democrats to pass the ACA without a single republican vote.  They should have expected when the Republicans took control they would get rid of it.  The Dems should have had a more bi-partisan plan that both sides agreed on.  Get rid of it...  I want something that both sides of the table can agree on.
Title: Re: 2019 fire cohort
Post by: Iplawyer on January 05, 2017, 01:34:51 PM
It was stupid of the Democrats to pass the ACA without a single republican vote.  They should have expected when the Republicans took control they would get rid of it.  The Dems should have had a more bi-partisan plan that both sides agreed on.  Get rid of it...  I want something that both sides of the table can agree on.

It was "stupid" to get insurance for over 20 million people that did not have it?  I disagree.  At that point the two parties were not working together just like the republicans won't work with the democrats when they repeal the ACA without any replacement.  I've always been blessed to have very good insurance.  Many have not been so blessed.  And I don't want a handout - I just want the ability to buy good insurance.  I could not do that before the ACA if I had not been working. 

I hope you like what the republicans do now - and it is guaranteed not be a bi-partisan plan.
Title: Re: 2019 fire cohort
Post by: Trifele on January 06, 2017, 05:14:45 AM
Welcome aboard Trifele. 2019 is gonna be one fine year!!! We will be traveling extensively too, but
Mostly in Central America.

Played with my spreadsheet today. Lol.

We will see what happens in the next 2 years. We will either finish up in Dec 18 or June 19. DW is a teacher so we'll finish at the end of a term.

We are targeting 25x, and if need be we will do some short term contract work Post Fire if the market doesn't deliver in the first few years.

Thanks, Itchy!  I am very excited.  We are worried about what the ACA changes are going to do to our health insurance expenses, but we'll just have to wait and see . . .  I suppose a worst case scenario is working a bit longer . . .
Title: Re: 2019 fire cohort
Post by: HBFI on January 07, 2017, 02:06:48 PM
Hi everyone.  First time poster, long time MMM forum lurker who has decided to throw my lot in with the 2019 cohort.  I'm targeting 12/31/19 at this point, which would put me a 38 years old.  I've actually been on the FIRE path since I was 24, but had no idea this community even existed until a about 2 years ago.  The inspiration and knowledge gained from reading this forum, MMM and various other bloggers has reshaped my view of what I "need" to RE.  Before I found the FI community I thought I'd be plugging away for another decade from now.  But by focusing on the expense side of things and not just income/investing, I've stripped that down to three years (I reserve the right to make that two years :)

I'm technically "bare bones" FI today, meaning I could cover the basics of my current lifestyle.  I'm planning to pad the stache a little more over the next few years.  Targeting a 3-3.5% SWR (I prefer ranges for variance allowance). I know that's overly conservative, but it's my personal 'sleep at night' range.  I look forward to taking (continuing?) this journey with everyone.  Cheers!
Title: Re: 2019 fire cohort
Post by: Trifele on January 08, 2017, 09:18:57 AM
Welcome HBFI!!  Our 2019 group is gaining momentum! 

Title: Re: 2019 fire cohort
Post by: oldtoyota on January 09, 2017, 09:20:45 PM
55%-56% of desired stache already saved....

It's pretty impressive that you will save 44% of your retirement Stache in the last 2 years of working. I thought I was being optimistic aiming for to accumulate 20% in 2 years.

20% of 25x annual spending is 5x annual spending. I will be happy if I can save 5 years of spending in just 2 years. Maybe I am being too conservative on the growth I can expect on my exisiting stache.

Of the 44% remaining to be accumulated, what will come from new savings versus investment returns?

How are you projecting your growth? I'm trying to be conservativish, what I have been doing is project 7% interest a year for my current stash plus whatever I invest. So I'm only planning for market growth for my current sum. Projected just short of the total sum I'm wanting, trying to do it that way on purpose to keep me focused and motivated.


Sent from my iPhone using Tapatalk

Gosh, maybe I am too conservative. I've calculated 5% growth. From time to time, I'll run scenarios at 7-8%, which I think would be more likely.
Title: Re: 2019 fire cohort
Post by: oldtoyota on January 09, 2017, 09:27:56 PM
Well, this is strange. I had dinner with a friend who told me he plans to retire the same year and month as me. I am decades younger. I wonder how he'll react.

Title: Re: 2019 fire cohort
Post by: oldtoyota on January 09, 2017, 09:31:45 PM
What is your target $ goal? Also, does your NW include money paid for houses?

My target $ goal is more of a "Pay off all mortgages & be debt free" which should be right around $1.4Mil US.  I have had $966k in loans to date with all but $270k paid off.  My NW does include money paid for properties.  I have a link to my financial journey below which I plan to update at the end of Dec.  Also my NW does NOT include where I am currently living (primary residence an apartment in the DC area).

http://forum.mrmoneymustache.com/journals/enigma's-personal-financial-journey-and-goals/

Thank you for the additional info. I'm so nosy/curious.
Title: Re: 2019 fire cohort
Post by: itchyfeet on January 10, 2017, 10:00:03 AM
Well, this is strange. I had dinner with a friend who told me he plans to retire the same year and month as me. I am decades younger. I wonder how he'll react.

I guess he will be happy to have a golf/ tennis/( any other fun activity of your choosing) partner.
Title: Re: 2019 fire cohort
Post by: VoteCthulu on January 10, 2017, 11:52:36 AM
That's one of the two parts of the ACA that Trump wants to keep, so I wouldn't worry too much at this point. Next year we'll see what actually gets changed, and anything that survives is unlikely to find a more harsh opposition after Trump.

I cannot even parse these words in any way to understand what you are saying.  But the first actions of Congress are starting and they are dismantling ACA.  And if they keep things like pre-existing conditions  - insurance companies will go out of business without subsidies to account for taking people with pre-existing conditions.  I think health insurance is going to be the single biggest issue I face in looking at ER. And - probably a few others here.
Nothing has passed yet, but I do expect them to dismantle the ACA, it's just a question of what will be kept and what will be thrown away. Trump said he liked and wanted to keep some parts of the ACA, so we need to wait and see what actually happens rather than become alarmed at drafts still being made. Whatever parts of the ACA not repealed in the next year or two are unlikely to be repealed later, since the Republicans could easily lose the Senate.

Healthcare could certainly be our biggest hurdle, but we won't know until they actually pass the legislation.

Was that easier to parse?
Title: Re: 2019 fire cohort
Post by: Livingthedream55 on January 11, 2017, 01:54:43 PM
The market has done so well I now have 97% of my "stache!" saved!

I still need to wait two years to let my pension percentage creep up to where I want it to be and I want to continue working till 2019 to pay off DD's college tuition but I'm so close to FI now - woohoo!!
Title: Re: 2019 fire cohort
Post by: VoteCthulu on January 11, 2017, 04:38:57 PM
Awesome! It's exciting to cross that FI threshold and realize you don't have to work anymore if you don't want to!

When I put my numbers together this year I realized that I could fire right then if I sold my home and moved someplace cheaper, and that security changed my attitude at work: I'm only working for something specific I want instead of just another day of paying the bills.
Title: Re: 2019 fire cohort
Post by: oldtoyota on January 11, 2017, 10:17:48 PM

We just ticked off 80% of FIRE target...... or we are at 100% if we commit to spending 20% less lol....... or we are at 96% if we take a 5% WR..... or we could live in a cheaper home.... etc etc


Haha. That sounds verrrry familiar.
Title: Re: 2019 fire cohort
Post by: oldtoyota on January 11, 2017, 10:19:08 PM
Well, this is strange. I had dinner with a friend who told me he plans to retire the same year and month as me. I am decades younger. I wonder how he'll react.

I guess he will be happy to have a golf/ tennis/( any other fun activity of your choosing) partner.

Could be! I experienced some snark and grumpiness from him at dinner, so I have a feeling it won't be a rosy time when he finds out. Just seems to be becoming a grump.
Title: Re: 2019 fire cohort
Post by: oldtoyota on January 11, 2017, 10:22:09 PM
Awesome! It's exciting to cross that FI threshold and realize you don't have to work anymore if you don't want to!

When I put my numbers together this year I realized that I could fire right then if I sold my home and moved someplace cheaper, and that security changed my attitude at work: I'm only working for something specific I want instead of just another day of paying the bills.

Yep! If we moved to another country, we could both stop working now. If we stay in the HCOLA, then one of us must keep working. I do not like it, but one must compromise in marriage.

My attitude has changed. When I get nervous, I remember the numbers and feel better.



Title: Re: 2019 fire cohort
Post by: luckyme13 on January 16, 2017, 02:53:46 PM
I'm joining!  It's official and on the internet now so I can't back down.

12/31/2019 goal date but we might wait to ensure we get end of year bonuses as someone else pointed out.
My husband and I will be 45; son will be 6 years old
NW=$1.329MM currently.  Debt is $313k in two mortgages.  One primary and other is rental.   Trying to sell rental as it's out of state and a PITA. 
We plan to move to a lower cost of living area in the next year and reap some good gains on our home sale as we live in a very "hot" market.
I plan to stop working and spend more time with son.  Husband actually likes his job so he is thinking about working 20 hrs a week to cover our living expenses.  Once son goes to public school this will help tremendously as we spend an exorbitant amount on our mortgage and child care currently.
Goal is $2MM NW so we are in hyper-savings mode.  Kicking myself that I didn't start aggressively saving earlier and pre-child but we had a lot of fun and no regrets.  Retiring at 45 will still be pretty awesome.
Title: Re: 2019 fire cohort
Post by: itchyfeet on January 16, 2017, 09:04:31 PM
Sigh.....

This getting to FIRE is not easy.

I am having a bad week at work, so of course looked at my calculations to see whether I really need to continue to endure these bad weeks (thankfully not every week is so bad), but instead of reducing my number, I concluded it needed to be increased!!!!

I had not allowed for income taxes, which is a pretty big miss. My taxes will definitely  be far less post FIRE, but not zero. I wish!  I have decided I need to increase my number by 10% to create a pool of funds for taxes.

And with a firm FIRE date in mind I have adjusted my spending to be a bit more honest on inflation between today and FIRE. Costs will surely go up.

My FIRE number is getting massive! :(

I still hope to get there in 2019, but will need decent returns on my current stache to get there.

In my new calculations I have dropped from being at 20x to around 17x. Not what I wanted to read after getting a new hole torn in my rear by my boss.

I think I will need the full 3 years to get from 17x to 25x, so let's say my date is now 31 December 2019.

Three more years. Sh&t!!
Title: Re: 2019 fire cohort
Post by: trix76 on January 16, 2017, 09:08:34 PM
Sign me up! I'm aiming for late 2019 (October or November), when I'll be 43.5 years old. I *may* opt to do a little consulting work, but will primarily be focused on slow travel in South America and beyond for at least a few years, with my SO whose FIRE date is April 2019.

Current numbers (mine only, as we keep our money separate) are:
NW = $550K USD
FIRE Target = $900K USD
SR = ~80%
Annual spending= $30K
Projected FIRE = April 2019
Title: Re: 2019 fire cohort
Post by: Trifele on January 17, 2017, 04:02:52 AM
Welcome aboard Trix!  2019 is going to be a mighty fine year!

Itchy -- hang in there man.  You can do it.  Party at my house if we all FIRE by the end of the year.  :)
Title: Re: 2019 fire cohort
Post by: oldtoyota on January 22, 2017, 10:37:22 AM
Sigh.....

This getting to FIRE is not easy.

I am having a bad week at work, so of course looked at my calculations to see whether I really need to continue to endure these bad weeks (thankfully not every week is so bad), but instead of reducing my number, I concluded it needed to be increased!!!!

I had not allowed for income taxes, which is a pretty big miss. My taxes will definitely  be far less post FIRE, but not zero. I wish!  I have decided I need to increase my number by 10% to create a pool of funds for taxes.

And with a firm FIRE date in mind I have adjusted my spending to be a bit more honest on inflation between today and FIRE. Costs will surely go up.

My FIRE number is getting massive! :(

I still hope to get there in 2019, but will need decent returns on my current stache to get there.

In my new calculations I have dropped from being at 20x to around 17x. Not what I wanted to read after getting a new hole torn in my rear by my boss.

I think I will need the full 3 years to get from 17x to 25x, so let's say my date is now 31 December 2019.

Three more years. Sh&t!!

Ugh. That stinks! Sorry.

On the bright side, better to know that now instead of later.

Any chance you can look for a new job?
Title: Re: 2019 fire cohort
Post by: itchyfeet on January 24, 2017, 03:31:52 AM

Ugh. That stinks! Sorry.

On the bright side, better to know that now instead of later.

Any chance you can look for a new job?


The bad week is behind me. Onwards and upwards. We will see how 2017 plays out.
Title: Re: 2019 fire cohort
Post by: Bateaux on January 24, 2017, 09:33:15 PM
For us 2017 was once in play.  Then the election happened, now with health care uncertainty we're in a holding pattern.   We're now over 100k past the minimal NW I'd set several years ago.   I've also lowered expected rate of return to 5% and rate of withdrawal to 3%.  That would yield anout 80k annually and allow 50k spending.   No current debt so we could survive well on that besides the health care wildcard.
Title: Re: 2019 fire cohort
Post by: itchyfeet on February 01, 2017, 10:50:29 AM
Ok, Feb has arrived. How far did the first month of 2017 take us towards a 2019 FIRE?

Well, I don't want to brag too much, but I had a great Jan financially achieving a NW increase of around double what I need/ hoped for to get to my target in 2019.

Feb looks like it will also be a good month as well (as long as markets stay steady), as I will get paid a pretty decent bonus from my employer.
Title: Re: 2019 fire cohort
Post by: Trifele on February 01, 2017, 01:27:25 PM
Ok, Feb has arrived. How far did the first month of 2017 take us towards a 2019 FIRE?

Well, I don't want to brag too much, but I had a great Jan financially achieving a NW increase of around double what I need/ hoped for to get to my target in 2019.

Feb looks like it will also be a good month as well (as long as markets stay steady), as I will get paid a pretty decent bonus from my employer.

Nice!   Way to go.   :)
Title: Re: 2019 fire cohort
Post by: Trifele on February 01, 2017, 01:48:34 PM
For us January was a slightly "down" month in terms of NW increase.  We took a very-long-preplanned two week vacation . . . but that was figured into our FIRE date already, so we are still on track. . .   
Title: Re: 2019 fire cohort
Post by: itchyfeet on February 01, 2017, 08:43:26 PM
Yeah, we need to book some airfares this month, which might slow the progress slightly. All budgeted for of course ;-)
Title: Re: 2019 fire cohort
Post by: Roboturner on February 02, 2017, 11:29:47 AM
Quote
UN:Age at
FIRE
Target
Date
MissNancyPryor50Mar-19
Roboturner30Mar-19
Livingthedream5559May-19
cerat0n1aMay-19
dude54May-19
SamIAm3829May-19
oldtoyotaJun-19
Itchyfeet47Jun-19
Enigma39Jul-19
Thedividebyzero45Jul-19
TrifeleAug-19
RetirementDreamingSep-19
VoteCthuluOct-19
trix7643Oct-19
markbike528CBX55Dec-19
HBFI38Dec-19
luckyme1345Dec-19
PhilBTBD
ParizadeTBD
madamwitty36TBD
LowerbillsTBD
ChrissyTBD
GerardTBD
getoutsoon52TBD
ysette9TBD
elaine amj40TBD
IplawyerTBD
BateauxTBD

Let's go 2019! feel free to add/update when necessary!
Title: Re: 2019 fire cohort
Post by: Chrissy on February 02, 2017, 01:21:10 PM
Quote
UN:Age at
FIRE
Target
Date
MissNancyPryor50Mar-19
Roboturner30Mar-19
Livingthedream5559May-19
cerat0n1aMay-19
dude54May-19
SamIAm3829May-19
oldtoyotaJun-19
Itchyfeet47Jun-19
Enigma39Jul-19
Thedividebyzero45Jul-19
TrifeleAug-19
RetirementDreamingSep-19
VoteCthuluOct-19
trix7643Oct-19
markbike528CBX55Dec-19
HBFI38Dec-19
luckyme1345Dec-19
PhilBTBD
ParizadeTBD
madamwitty36TBD
LowerbillsTBD
Chrissy42Dec 2019
GerardTBD
getoutsoon52TBD
ysette9TBD
elaine amj40TBD
IplawyerTBD
BateauxTBD
Title: Re: 2019 fire cohort
Post by: VoteCthulu on February 02, 2017, 02:21:15 PM
For completeness of the above list, I'll be 39 in 2019.
Title: Re: 2019 fire cohort
Post by: markbike528CBX on February 02, 2017, 04:20:40 PM
Most Righteous Alias Age at
FIRE
Target
Date
MissNancyPryor50Mar-19
Roboturner30Mar-19
Livingthedream5559May-19
cerat0n1aMay-19
dude54May-19
SamIAm3829May-19
oldtoyotaJun-19
Itchyfeet47Jun-19
Enigma39Jul-19
Thedividebyzero45Jul-19
TrifeleAug-19
RetirementDreamingSep-19
VoteCthulu39Oct-19
trix7643Oct-19
markbike528CBX55Dec-19
HBFI38Dec-19
luckyme1345Dec-19
PhilBTBD
ParizadeTBD
madamwitty36TBD
LowerbillsTBD
Chrissy42TBD
GerardTBD
getoutsoon52TBD
ysette9TBD
elaine amj40TBD
IplawyerTBD
BateauxTBD

Updated, corrected formatting.

Thanks Roboturner for starting this.
I had goals of doing this,but I was going to wait till 2018.

I chose Most Righteous Alias instead of User Name, as I was temporarily channeling "Bill and Ted's Excellent Adventure".
Feel free to change it to something more serious.

I always think of UN # as  a hazardous transportation code, mmmm.... maybe that's an idea  for another column?
Title: Re: 2019 fire cohort
Post by: 2Birds1Stone on February 02, 2017, 05:38:08 PM
I would love to play, but sadly the only way I could FIRE by 2019 would be winning the lotto ;)

I feel like I'm in 5 of these cohort threads, but it's honestly due to the unknowns between now and the goal.

Theoretically in a best case scenario, I could be very barebone FI by New Years Eve 2019. Which would cover rent, food, health, trans, and pretty much no discretionary spending.

Feel free to kick me out if I don't meet the criteria!

As of 2/1/2017 I am 11X current annual spend, 16.5X barebone FI spend.
Title: Re: 2019 fire cohort
Post by: itchyfeet on February 02, 2017, 08:59:44 PM
There it is, all formalised in a table. June 2019. Locked and loaded. No backing out now.
Title: Re: 2019 fire cohort
Post by: Trifele on February 02, 2017, 09:47:34 PM
Most Righteous Alias Age at
FIRE
Target
Date
MissNancyPryor50Mar-19
Roboturner30Mar-19
Livingthedream5559May-19
cerat0n1aMay-19
dude54May-19
SamIAm3829May-19
oldtoyotaJun-19
Itchyfeet47Jun-19
Enigma39Jul-19
Thedividebyzero45Jul-19
Trifele52Aug-19
RetirementDreamingSep-19
VoteCthulu39Oct-19
trix7643Oct-19
markbike528CBX55Dec-19
HBFI38Dec-19
luckyme1345Dec-19
PhilBTBD
ParizadeTBD
madamwitty36TBD
LowerbillsTBD
Chrissy42TBD
GerardTBD
getoutsoon52TBD
ysette9TBD
elaine amj40TBD
IplawyerTBD
BateauxTBD

Updated, corrected formatting.

Thanks Roboturner for starting this.
I had goals of doing this,but I was going to wait till 2018.


Added what my age will be at FIRE . . .
Title: Re: 2019 fire cohort
Post by: PhilB on February 03, 2017, 10:20:43 AM
Most Righteous Alias Age at
FIRE
Target
Date
MissNancyPryor50Mar-19
Roboturner30Mar-19
Livingthedream5559May-19
cerat0n1aMay-19
dude54May-19
SamIAm3829May-19
oldtoyotaJun-19
Itchyfeet47Jun-19
Enigma39Jul-19
Thedividebyzero45Jul-19
Trifele52Aug-19
RetirementDreamingSep-19
VoteCthulu39Oct-19
trix7643Oct-19
markbike528CBX55Dec-19
HBFI38Dec-19
luckyme1345Dec-19
PhilB53Jun-19
ParizadeTBD
madamwitty36TBD
LowerbillsTBD
Chrissy42TBD
GerardTBD
getoutsoon52TBD
ysette9TBD
elaine amj40TBD
IplawyerTBD
BateauxTBD


Added mine in too.  The precise date moves about between 'maybe I'll stay on part time?' and 'exactly how long is my notice period?' depending on how my work day goes!

The maths says I should go now.  My knowledge of my own psychology says I'll sleep easier if I stick it out for a nice big financial comfort blanket.  My target, post-fire, monthly budget is best expressed as £1k for bills, £1k for living, £1k for having fun and £1k just in case.  The fact that the first three numbers already have loads of fat doesn't alter my irrational need for the fourth one.
Title: Re: 2019 fire cohort
Post by: powersuitrecall on February 03, 2017, 12:32:50 PM
I'm in!

I chose July 1, but that might change.

Nice table we have going here :)


Most Righteous Alias Age at
FIRE
Target
Date
MissNancyPryor50Mar-19
Roboturner30Mar-19
Livingthedream5559May-19
cerat0n1aMay-19
dude54May-19
SamIAm3829May-19
oldtoyotaJun-19
Itchyfeet47Jun-19
powersuitrecall47Jul-19
Enigma39Jul-19
Thedividebyzero45Jul-19
Trifele52Aug-19
RetirementDreamingSep-19
VoteCthulu39Oct-19
trix7643Oct-19
markbike528CBX55Dec-19
HBFI38Dec-19
luckyme1345Dec-19
PhilB53Jun-19
ParizadeTBD
madamwitty36TBD
LowerbillsTBD
Chrissy42TBD
GerardTBD
getoutsoon52TBD
ysette9TBD
elaine amj40TBD
IplawyerTBD
BateauxTBD
Title: Re: 2019 fire cohort
Post by: MoMan on February 09, 2017, 10:32:25 AM
I canít believe I hadnít seen this section before. So many nooks and crannies of the forum to poke around and discover, and they are all so awesome!!

About 2 years ago, I decided that the road to F.I.R.E. was looking feasible for me by age 55. Iím currently 32 months away, (October, 2019) which has really changed my outlook on work.

On the positive side, there is a visible, bright light at the end of the tunnel. The goal is well within reach. In fact, Iím pretty confident that I have enough money invested to retire right now, but I plan to work until sometime in 2019 for a few reasons.

And this growing pile of F.U. money has let me silently laugh off the office politics, and the constant grumbling of my co-workers (always discussed Ė along with the latest luxury sedan lust -- over their $15+ daily lunches).

But this situation has some torturous side effects as well. For one, 32 months feels SOO far away. Freedom is all I think about all day in my beige jail cell. Every project dropped on my desk makes me grumble with resentment. I also feel like I have no one to discuss this all with, which is why Iím posting here.

Anyway, to help inject a tiny dose of positivity into my work week, I have implemented a series of countdown mechanisms. I have a pad of Post-it notes on my desk, which I update weekly. There are 4 numbers: Years remaining (2.66), months remaining (32), weeks remaining (139) and days remaining (970) until F.I.R.E. I also keep a running countdown of the days remaining in my DayMinder desk calendar. I save the Post-it note update for Monday mornings. It feels good to tear that top note off, crumple it up and toss it in the trash, then write down some new, smaller numbers, which makes Monday morning just a teensy bit more tolerable. Itís also good to review the days on the calendar, and look back several weeks to reinforce the progress toward the goal.

So why not just call it quits right now if I seem so damned miserable and have enough money? Fair question. There are several reasons (excuses?).

One is, my wife was already a little freaked out 2 years ago when I first brought early retirement up. Since then, Iíve really reigned in my unnecessary spending, and have been open about how much my pile has grown (we generally keep our money separate outside of paying shared bills like the mortgage, groceries, utilities, insurance, etc.). So she has since come around and is pretty supportive of my decision, but not yet a mustachian. Sheís a CPA making considerably more than me and currently loves the job she landed 2 years ago at a small, family owned company. And her commute is a whopping 6 minutes (2 miles). She is part of my backup plan, but I never want her to feel like she needs to subsidize my retirement. I need to be 100% self-sufficient, so I am being really conservative in my saving needs estimates. I have twice as much saved up as I think I will need. I guess this puts me squarely in the Scaredypants camp.

Another reason to gut it out is company benefits. If I have 10 years of continuous service and am 55 or older when I retire, I can keep my company sponsored insurance plan for as long as I pay the premiums (just started my 10th year; whew!). I can even add dependents later. This is not COBRA. Iím not yet sure if I have to wait for my 55th birthday, or if it applies beginning the calendar year I turn 55 like access to the 401(k). Either way, I have to wait at least until Jan. 2019. I will then be able to get an estimate of the premiums and see if it will be cheaper than getting added to my wifeís insurance. Iím guessing it will be less since I work for a huge company.

I also didnít expect my retirement savings to grow as fast as it has. Holy crap, the last 12 months have been amazing! The majority of my money is invested aggressively in rollover IRAs and my current 401k. With the IRAs, I canít touch the money without penalty until 59 Ĺ (yes, Iím aware of the back-door Roth conversion; I work in the retirement saving industry). But with the 401k, once you leave your job you can access the money without penalty starting the calendar year you turn 55.

And lastly, I want to be completely debt free when I do retire. We currently have 18 payments left on the mortgage. With that out of the way, I will have a dozen or so months to crank up a cash stockpile just before retirement. I did suggest raiding our combined savings account to pay off the mortgage now, but my wife wants to use that to make a couple of house repairs (foundation).

So thatís my situation right now.

For your entertainment/comparison purposes, here are my numbers:

Total investable assets $920,000 as follows (rounded)
ē   401(k) $211,000
ē   Roth IRA $120,000
ē   Rollover IRA #1 $17,000
ē   Rollover IRA #2 $443,000
ē   Pension (lump sum value) $29,000
ē   HSA $10,000
ē   Taxable m-funds $90,000

Zillow home value: $340,000
Mortgage remaining ($14,000)

Other debt: $0

Except for the equity/debt of the house, these numbers all exclude my wife's personal assets. Not sure what they add up to, but I know she is diligent about saving and investing, just not as aggressive as me.

Title: Re: 2019 fire cohort
Post by: itchyfeet on February 10, 2017, 03:22:41 AM
Hey Moman

Welcome to the cool kids of 2019!

I can totally relate to the difficulties of having the "right" attitude at work.

When you are not working for a pay rise, or a promotion, and don't care what will happen next if you get fired, then the way one looks at work is changed and it is really hard to trick the mind into giving a sh&t.

The past 3 or 4 years have been exceptional to my NW and with each year, my ambition for trying hard at work is diminished as quickly as my wealth has climbed.

I have to say that I find it pretty intriguing that you have openly shared full details of your personal finances with the world, but your wife doesn't share her financial situation with just you. Just goes to show how different we all are, even within a marriage.

28 months or 868 days remaining.
Title: Re: 2019 fire cohort
Post by: MoMan on February 10, 2017, 07:42:14 AM
Thanks Itchy! It's so refreshing to find a choir that is singing my songs.

Just to be clear (and I don't believe for a second that you meant to imply this), it's not that my wife isn't willing to share her info; it's more of a case of, "Meh, I'm too lazy to dig that information out." And since my retirement is not dependent on her, I'm fine with that. I do know that she has a well funded retirement account (she oversees her company plan) and contributes monthly to a taxable account.

We have a shared account that we use for emergencies and big repairs which we both contribute to. I set up an automatic twice-a-month contribution. I have no idea what the current balance is, and really don't care that much. I know it's more than enough to cover the cost of a new roof, or a new A/C ... probably both. But I have the same attitude toward it: "Meh, I don't need the money right now, so who cares? Let it grow."

... but your wife doesn't share her financial situation with just you.

Cheers!

--Mike
Title: Re: 2019 fire cohort
Post by: Lowerbills on February 10, 2017, 08:15:55 AM
To update the list I'm currently 37, will be 40 in 2019.

2019 FIRE is looking a little ambitious at this point.  2016 was not a great year (other than market returns and some timely buys early in the year), but a lot can happen in almost 3 years.

Not to gripe but, health insurance costs alone for my family this year increased by $519 per MONTH.  Would much rather be buying stocks, bonds or real estate with those funds!

Title: Re: 2019 fire cohort
Post by: Luck12 on February 10, 2017, 08:34:25 AM
Currently at 27 X annual expenses and looking to FIRE myself in April-May of 2019.  Should be up to at least 30 X by then assuming at least a flat market between now and then.  I have no health issues at all, but of course you never know... and with health care the way it is....  hoping worst case I could move to one of the liberal states like CA, MA. 

Probably going to go on at least a 2-3 month hiking/camping/backpacking trip in the Western US right after FIRE. 

Oh, I will be 41 in 2019. 
Title: Re: 2019 fire cohort
Post by: Roboturner on February 10, 2017, 08:49:16 AM
Quote
Most Righteous
Alias
Age at
FIRE
Target
Date
MissNancyPryor50Mar-19
Roboturner30Mar-19
Luck1241Apr-19
Livingthedream5559May-19
cerat0n1aMay-19
dude54May-19
SamIAm3829May-19
oldtoyotaJun-19
Itchyfeet47Jun-19
PhilB53Jun-19
powersuitrecall47Jul-19
Enigma39Jul-19
Thedividebyzero45Jul-19
Trifele52Aug-19
RetirementDreamingSep-19
VoteCthulu39Oct-19
trix7643Oct-19
MoMan55Oct-19
markbike528CBX55Dec-19
HBFI38Dec-19
luckyme1345Dec-19
ParizadeTBD
madamwitty36TBD
Lowerbills40TBD
Chrissy42TBD
GerardTBD
getoutsoon52TBD
ysette9TBD
elaine amj40TBD
IplawyerTBD
BateauxTBD

Beautiful - keep churnin everyone, 2019 will be here soon enough!
Title: Re: 2019 fire cohort
Post by: itchyfeet on March 01, 2017, 09:40:28 AM
Feb update.

Another Awesome month, primarily due to the insane Sydney property market and some good savings. Did ok on the share market not great, particularly Oz shares were a non event. Lost a little on Bisbane property, but not much.

My 2016 bonus wasn't paid in Feb, so something to look forward to in March.

When I finally locked in my FIRE number and date last year, I thought I was being very ambitious. However, in the first 2 months of 2017 my NW has increased by double what I was shooting for. Is 2018 even remotely possible.....

Title: Re: 2019 fire cohort
Post by: markbike528CBX on March 01, 2017, 09:54:30 AM
Itchyfeet, One Less Year is an acceptable way to leave the cohort.   One MORE Year (OMY) is not acceptable.   ;-)

I think I may have shortened my time to fire(d) by implying to colleagues that I'm willing to roll over and play dead if someone makes it "a condition of employment" that I fill out a form that I promised myself I'd never do again.

We are FI and could RE by any stretch of the reasonable imagination, but I can't pull the plug myself.
Title: Re: 2019 fire cohort
Post by: itchyfeet on March 01, 2017, 10:22:34 AM
I hear you on not being able to pull the plug.

My FIRE number has risen quite a lot over the past 2 years. Hopefully it has stopped rising now. Lol.

I was just commenting on another thread that selling out of Sydney real estate now, and taking profits, would probably reduce some FIRE risk as Sydney residential property is scarily expensive now after unbelievable rises over the past 3 years.. But, if we do sell now it's making a firm committment that we don't intend returning to working in sydney ever again. It's a decision that makes FIRE very real. Yey or yikes, or a bit of both.
Title: Re: 2019 fire cohort
Post by: zinnie on March 01, 2017, 01:36:38 PM
Can I join? I've wanted to be FI before I turn 36. Mint currently says February 2019, which has me five months ahead!

Added myself below. Nice to meet you, all :)

Most Righteous
Alias
Age at
FIRE
Target
Date
zinnie35Feb-19
MissNancyPryor50Mar-19
Roboturner30Mar-19
Luck1241Apr-19
Livingthedream5559May-19
cerat0n1aMay-19
dude54May-19
SamIAm3829May-19
oldtoyotaJun-19
Itchyfeet47Jun-19
PhilB53Jun-19
powersuitrecall47Jul-19
Enigma39Jul-19
Thedividebyzero45Jul-19
Trifele52Aug-19
RetirementDreamingSep-19
VoteCthulu39Oct-19
trix7643Oct-19
MoMan55Oct-19
markbike528CBX55Dec-19
HBFI38Dec-19
luckyme1345Dec-19
ParizadeTBD
madamwitty36TBD
Lowerbills40TBD
Chrissy42TBD
GerardTBD
getoutsoon52TBD
ysette9TBD
elaine amj40TBD
IplawyerTBD
BateauxTBD
Title: Re: 2019 fire cohort
Post by: Trifele on March 02, 2017, 03:45:03 AM
Welcome Zinnie!!  2019 is going to be a lot of fun. 

Though if the current market conditions hold a while longer, I suspect some of you early-2019 folks may be joining the 2018 group!
Title: Re: 2019 fire cohort
Post by: Livingthedream55 on March 02, 2017, 06:33:33 AM
I would love to play, but sadly the only way I could FIRE by 2019 would be winning the lotto ;)

I feel like I'm in 5 of these cohort threads, but it's honestly due to the unknowns between now and the goal.

Theoretically in a best case scenario, I could be very barebone FI by New Years Eve 2019. Which would cover rent, food, health, trans, and pretty much no discretionary spending.

Feel free to kick me out if I don't meet the criteria!

As of 2/1/2017 I am 11X current annual spend, 16.5X barebone FI spend.

Hi 2Birds1Stone,

Welcome! Of course we won't kick you out! Sometimes being in the cohort and setting a time-related goal can be an additional motivating factor. Who knows what is possible for you in the next two years? Have you ever done a case study? Any chance you can increase income/reduce expenses?

We are here to cheer you on!

: 0 )
Title: Re: 2019 fire cohort
Post by: 2Birds1Stone on March 02, 2017, 06:46:00 AM
Hi 2Birds1Stone,

Welcome! Of course we won't kick you out! Sometimes being in the cohort and setting a time-related goal can be an additional motivating factor. Who knows what is possible for you in the next two years? Have you ever done a case study? Any chance you can increase income/reduce expenses?

We are here to cheer you on!

: 0 )

Hello there.

I don't think I've ever done a formal case study, BUT I lay out my income, expenses, and assets around the 1st of the month in my journal, super consistently over the past 26 months.

For 2015 my savings rate was 76.25%
For 2016 my savings rate was 80.65%
For 2017 my savings rate will be anywhere between 60-80%

My income is very unpredictable. I am in B2B sales and my base salary makes up a small portion of that income. I should *knock on wood* be in the 70-80% range for 2017. My expenses are fairly low, projected to be $24k all in for 2017.
Title: Re: 2019 fire cohort
Post by: zinnie on March 02, 2017, 08:43:54 AM
Welcome Zinnie!!  2019 is going to be a lot of fun. 

Though if the current market conditions hold a while longer, I suspect some of you early-2019 folks may be joining the 2018 group!

Thank you! Hoping the market conditions hold, but also a little nervous about hitting my number just because we're in a bubble. Either way, i guess I'll take it :)
Title: Re: 2019 fire cohort
Post by: VoteCthulu on March 02, 2017, 12:09:03 PM
Welcome to the club, have a drink and then get back to work :)

We might be in a bubble (who knows), but at least we have a couple years before we have to pull the rip cord and find out whether our planning was good enough to see us through a correction.
Title: Re: 2019 fire cohort
Post by: Roboturner on March 03, 2017, 10:19:11 AM
Bubble..... I am a helium balloon!!!!

I feel all of my investments are floating way above where they should be, and coninuying to accelerate into another planet.

I feel like a big wave surfer. I have been having in the green room for a while, just gathering info. Now I need to point my puny board down a massive wave and just hope it doesn't break on my back.

Agreed! We're at the point where daily fluctuations in the market dwarf a full paycheck - nothing like putting a buy order in just to have the market drop a few points and *poof* that value is "gone" (not really, but still astounding!)
Title: Re: 2019 fire cohort
Post by: zinnie on March 03, 2017, 03:46:39 PM
Welcome to the club, have a drink and then get back to work :)


Check.

Bubble..... I am a helium balloon!!!!

I feel all of my investments are floating way above where they should be, and coninuying to accelerate into another planet.

I feel like a big wave surfer. I have been having in the green room for a while, just gathering info. Now I need to point my puny board down a massive wave and just hope it doesn't break on my back.

Agreed! We're at the point where daily fluctuations in the market dwarf a full paycheck - nothing like putting a buy order in just to have the market drop a few points and *poof* that value is "gone" (not really, but still astounding!)

Helium balloon, yes! I don't think I was ready for 5-10k fluctuations on a daily basis. I guess I'll have to get used to it.
Title: Re: 2019 fire cohort
Post by: markbike528CBX on March 04, 2017, 08:59:12 AM
Helium balloon, yes! I don't think I was ready for 5-10k fluctuations on a daily basis. I guess I'll have to get used to it.
^^-- A common Mustachian People Problem, but a good sign that you're well on the way to FIRE.

edit to change arrow direction for clarity
Title: Re: 2019 fire cohort
Post by: Trifele on March 08, 2017, 04:26:09 AM
@ItchyFeet -- Did I see from your post in another thread that you are going to be leaving us next year?  Pulling the FIRE trigger a little early?
Title: Re: 2019 fire cohort
Post by: itchyfeet on March 08, 2017, 06:21:19 AM
Haha. One can only hope.

2017 has commenced well.

Almost certainly it will be 2019 though.
Title: Re: 2019 fire cohort
Post by: zinnie on March 08, 2017, 09:44:08 PM
Helium balloon, yes! I don't think I was ready for 5-10k fluctuations on a daily basis. I guess I'll have to get used to it.
^^-- A common Mustachian People Problem, but a good sign that you're well on the way to FIRE.

edit to change arrow direction for clarity

This is true.

2019 group--how is your week going?

For me,
Pros: It's bonus week! Eagerly awaiting a deposit on Friday that should take at least a few days off my FI date. Also, talked to my boss about needing more free time and he is on board with me adjusting my schedule and working some shorter days, as long as I continue to get stuff done. Cut my own hair and it turned out really cute. Ate a lot of soups this week and got husband to base more lunches off of kamut and quinoa (instead of always including a meat), so we made a little dent in the grocery bill.

Cons: Have to pay credit card bill, and it's higher than planned. Bought flights overseas AND a couple of airbnbs for spring travel recently. That stuff adds up. Need to take my dog to the vet tomorrow and I rarely make it out of there with less than a $300 bill. And, our taxes are almost done and we are going to owe at least $5k. (Which happens every year, and I have no idea what I'm doing wrong.) I bought some clothing that was not mandatory, but my work wardrobe is feeling dated so I justified it.
Title: Re: 2019 fire cohort
Post by: VoteCthulu on March 08, 2017, 10:35:46 PM
2019 group--how is your week going?

Same as usual, I alternate between thinking work isn't so bad and despairing at how unbearably long 950 days, 17 hours, 25 minutes and 3 seconds is before I can leave it.
Title: Re: 2019 fire cohort
Post by: zinnie on March 08, 2017, 10:47:24 PM
2019 group--how is your week going?

Same as usual, I alternate between thinking work isn't so bad and despairing at how unbearably long 950 days, 17 hours, 25 minutes and 3 seconds is before I can leave it.

Oh no! Do you have shorter-term goals to focus on to take your mind off of it? I feel like that's objectively really close, but if you're counting every day it's still really freaking far away. Hoping you have more days where it doesn't seem so bad between now and then. That antsy feeling can be terrible...
Title: Re: 2019 fire cohort
Post by: Trifele on March 09, 2017, 03:53:45 AM
I'm having a rough week, Zinnie.   Stuck in that phase where FIRE seems so.far.away.   Even though I tell myself I am doing great and 2019 is right around the corner.   Very hard to go into work each day. 

I think you are right.  I need something to look forward to.  We're doing a big camping trip this October that I'm looking forward to, but that's pretty far away.  I have to find something closer, otherwise the next 7 months are going to be really hard . . .

Some days the only thing that keeps me going to work is this forum .  Thank you all! 
Title: Re: 2019 fire cohort
Post by: VoteCthulu on March 09, 2017, 07:49:07 AM
I've been thinking about starting a website as a hobby, but I can't decide what I want to do with it.

I know I'll make it a couple more years, I've made it through worse times without the giant carrot on a stick that's waiting for me just 950 days and 8 hours away.
Title: Re: 2019 fire cohort
Post by: itchyfeet on March 09, 2017, 11:41:57 AM
Eventful week.

I Lost my wallet at an airport in another country with all my credit cards, licenses etc inside.

I noticed it was missing from my bag after I boarded the plane so there was no going back to search for it.

By some miracle it found its way to lost property the next day,  and by exceptionally good luck I had a colleague passing through the airport the next day who picked the wallet up for me so I didn't have to fly back.

The $400 cash I had in my wallet was still there when I got it back.

I didn't even cancel my credit cards, because I was just hoping that people were honest at the airport.

Lucky on this occasion!!!!!!
Title: Re: 2019 fire cohort
Post by: Trifele on March 09, 2017, 01:31:41 PM
Holy crap, Itchy!  Excellent luck.
Title: Re: 2019 fire cohort
Post by: zinnie on March 13, 2017, 02:32:48 PM
Itchy--glad to hear your lost wallet story had a happy ending! I was expecting pickpocket when first reading. It's nice to know there are good people out there. The same thing happened to my uncle in Italy recently.

Trifele and VoteCthulu: lots of short-term goals are my saving grace! I don't want to be waiting for this magic date when my life will begin. What if I died tomorrow? "She almost had enough money to retire early" is a terrible life story :)

Speaking of: what does everyone want to do when they retire? Mine: read, write, research, cook, learn languages, take classes, garden, sew/knit, travel, and spend time with [currently far away] family and old friends.
Title: Re: 2019 fire cohort
Post by: itchyfeet on March 14, 2017, 11:15:32 AM

Speaking of: what does everyone want to do when they retire? Mine: read, write, research, cook, learn languages, take classes, garden, sew/knit, travel, and spend time with [currently far away] family and old friends.

This is becoming a concern of mine.....most of my motivation for FIRE has been that I am exhausted from working stupid hours, and I just want the freedom to do whatever whenever....

The problem is I don't really have a whatever planned.

I do have a big trip planned which might take a year- 18 months.

I have actually added up all my travel related Ambitions and it is about 5 years worth non stop and given that I reckon we will only travel around 3 months a year, and I think my current list is only half of what I'll end up wanting to do, I suppose I have a good 40 years of travel related adventures ahead of me at 3 months a year.

I know I want to get fit again and I don't think motivation will be a problem once I am not so exhausted from work.

I know I don't want to spend my days watching tv and have told DW if I find myself watching a lot
Of TV I'll just go back to work.

My friends will be at work so I won't be able to count of them for entertainment.

I could definitely seeing DW and I doing some charity volunteering.

DW is quite keen on having a hobby farm... not sure I am on board with that.

I was quite involved with a sports club before work swallowed my life. I might commit some time to that as long as I can stay mostly clear of the politics.

I will read and could see myself studying.

I definitely want to hike and camp a lot.

Maybe I'll even seeknout a little consulting work in my current field.... but on my terms.

I would like to give my parents a hand maintaining their place as they are getting old.

I'd be happy to coach my nephew's or niece's basketball team... if they'd have me.

Maybe I'll just go fishing....
Title: Re: 2019 fire cohort
Post by: VoteCthulu on March 14, 2017, 12:21:55 PM
I plan to decompress by doing some part time work for a bit, perhaps still in engineering, or it could be tutoring or at a local restaurant or an online software gig. Just something to do while I get used to my newfound freedom.

I may not need it, as I'm prone to focus on something completely when it catches my interest, but I'll firm up my plans in 2019 before I pull the rip cord and quit.
Title: Re: 2019 fire cohort
Post by: ysette9 on March 14, 2017, 01:19:28 PM
Quote
ysette9      TBD

Sorry that it took me so long to check this thread again! There is so much goodness on the forums, I get overwhelmed sometimes.

Ysette9      Target FIRE date TBD late 2019/early 2020, age 38

It is all still fuzzy for us because our housing situation is not determined. We have been renting at an excellent price for the last 4+ years but think that eventually we will buy. What and when and for how much are all still up in the air. It is a tough decision because prices are high where we live (which is also where we want to live). Depending on what we decide there will be the biggest determinant of when we can retire. For now, I am guesstimating that we need a $2M stash, of which we are around $1.6 now and adding about $120K+ a year, not counting 401(k) matches and any extra bumps like bonuses or stock vesting. A down payment would be in addition to that amount.

I don't have my retirement budget estimate spreadsheet with me right now, but last year we spent around $80k, of which $17K was child expenses (mostly daycare). This is definitely not mustachian-levels of spending and it is hard for me to know what it might drop to if we weren't working and had more time. Part of my plan includes starting with a long sabbatical to test drive FIRE and then make adjustments as we go.
Title: Re: 2019 fire cohort
Post by: MoMan on March 15, 2017, 08:03:22 AM
Speaking of: what does everyone want to do when they retire? Mine: read, write, research, cook, learn languages, take classes, garden, sew/knit, travel, and spend time with [currently far away] family and old friends.

Here's what I posted on another thread yesterday:

Woodworking!

... and using my woodworking projects. A few years ago I built a wooden, cedar strip canoe, and last summer I launched the 17 foot sailboat I built. I plan to go on more camping/boating trips when I FIRE in 2.58 years.

Otherwise, I want to up my industrial arts game: I bought a decent lathe last December and intend to create some really nice bowls, toys, and numerous gifts for friends (just listen for the tree trimmers' chainsaws in the neighborhood and the material is free!!). I also want to learn to weld, sew, upholster and whatever other skills I can absorb for cheap.

I also want to beef up my bike riding.

... and to add to that posting, I plan to do a lot of house cleaning/home improvement projects. One of my goals is to make DW pleased that I am RE. The last time I changed jobs, I used my 5 weeks of accumulated vacation to do just that: organized closets, built some cabinets and a new gate. I plan to go through the house and pick one room at a time and completely scrub it down and organize everything. My home office is an absolute pit right now. But I hate the thought of using ANY of my precious, limited time off (while still working) to tackle this shit. So when I retire, that will become part of my routine. I want DW to brag to her co-workers/friends/family that she comes home to pleasant surprises on a routine basis.

Besides, if I didn't do this kind of stuff, I'd spend all my money and time just drinking beer and sitting on the deck.

For those of you lamenting the remaining 950 days, just think: In January, it was 1,000 days left! And in just a couple of months, it will be LESS THAN 900 days left. Yeah, that train is definitely moving this way.

--Mike
Title: Re: 2019 fire cohort
Post by: zinnie on March 15, 2017, 10:46:38 AM

Woodworking!

... and using my woodworking projects. A few years ago I built a wooden, cedar strip canoe, and last summer I launched the 17 foot sailboat I built. I plan to go on more camping/boating trips when I FIRE in 2.58 years.

Otherwise, I want to up my industrial arts game: I bought a decent lathe last December and intend to create some really nice bowls, toys, and numerous gifts for friends (just listen for the tree trimmers' chainsaws in the neighborhood and the material is free!!). I also want to learn to weld, sew, upholster and whatever other skills I can absorb for cheap.

I also want to beef up my bike riding.

... and to add to that posting, I plan to do a lot of house cleaning/home improvement projects. One of my goals is to make DW pleased that I am RE. The last time I changed jobs, I used my 5 weeks of accumulated vacation to do just that: organized closets, built some cabinets and a new gate. I plan to go through the house and pick one room at a time and completely scrub it down and organize everything. My home office is an absolute pit right now. But I hate the thought of using ANY of my precious, limited time off (while still working) to tackle this shit. So when I retire, that will become part of my routine. I want DW to brag to her co-workers/friends/family that she comes home to pleasant surprises on a routine basis.
 

How did you learn woodworking? My husband and I have been dabbling in this recently--did a dining room table and a coffee table, but they were all very simple plans. Making a canoe and sailboat sounds like you have quite the skillset! I've been watching this woodworking show on PBS recently and I'm amazed at everything he makes. It seems like sort of a lost art, and the guy on this show doesn't even use any power tools, but it looks really satisfying.

And for the cleaning/home improvement projects--I'm sure your wife would really appreciate that! I'd kill to have my husband home now taking care of things. Our list just grows and grows but with only weekend time it feels like we never make a dent in it.

I want to spend more time biking, too :)


This is becoming a concern of mine.....most of my motivation for FIRE has been that I am exhausted from working stupid hours, and I just want the freedom to do whatever whenever....

The problem is I don't really have a whatever planned.

I do have a big trip planned which might take a year- 18 months.

I have actually added up all my travel related Ambitions and it is about 5 years worth non stop and given that I reckon we will only travel around 3 months a year, and I think my current list is only half of what I'll end up wanting to do, I suppose I have a good 40 years of travel related adventures ahead of me at 3 months a year.

I know I want to get fit again and I don't think motivation will be a problem once I am not so exhausted from work.

I know I don't want to spend my days watching tv and have told DW if I find myself watching a lot
Of TV I'll just go back to work.

My friends will be at work so I won't be able to count of them for entertainment.

I could definitely seeing DW and I doing some charity volunteering.

DW is quite keen on having a hobby farm... not sure I am on board with that.

I was quite involved with a sports club before work swallowed my life. I might commit some time to that as long as I can stay mostly clear of the politics.

I will read and could see myself studying.

I definitely want to hike and camp a lot.

Maybe I'll even seeknout a little consulting work in my current field.... but on my terms.

I would like to give my parents a hand maintaining their place as they are getting old.

I'd be happy to coach my nephew's or niece's basketball team... if they'd have me.

Maybe I'll just go fishing....


Seems like a good enough plan, to me! :)
Title: Re: 2019 fire cohort
Post by: MoMan on March 15, 2017, 11:49:30 AM
How did you learn woodworking? My husband and I have been dabbling in this recently--did a dining room table and a coffee table, but they were all very simple plans. Making a canoe and sailboat sounds like you have quite the skillset! I've been watching this woodworking show on PBS recently and I'm amazed at everything he makes. It seems like sort of a lost art, and the guy on this show doesn't even use any power tools, but it looks really satisfying.

Sounds like Roy Underhill on The Woodwright Shop! He does some really cool stuff, all with hand/human powered tools; super impressive. I like that they don't do much editing, so you get to see his failures and mistakes too.

I took my first woodworking class in junior high, and continued on through high school. It's sad that so many schools have phased out industrial arts classes. I also worked for a home remodeling crew during college. From there I progressed to making some of my own furniture and such using plans from The New Yankee Workshop (a PBS show that ended about 10 years ago).

Building boats is actually fairly easy, but they are long term projects. You need patience and perseverance for the most part, and a good design/plans that match your skill set. I ended up using hand tools at least, if not more than, power tools.
Title: Re: 2019 fire cohort
Post by: zinnie on March 16, 2017, 08:36:45 PM
How did you learn woodworking? My husband and I have been dabbling in this recently--did a dining room table and a coffee table, but they were all very simple plans. Making a canoe and sailboat sounds like you have quite the skillset! I've been watching this woodworking show on PBS recently and I'm amazed at everything he makes. It seems like sort of a lost art, and the guy on this show doesn't even use any power tools, but it looks really satisfying.

Sounds like Roy Underhill on The Woodwright Shop! He does some really cool stuff, all with hand/human powered tools; super impressive. I like that they don't do much editing, so you get to see his failures and mistakes too.

I took my first woodworking class in junior high, and continued on through high school. It's sad that so many schools have phased out industrial arts classes. I also worked for a home remodeling crew during college. From there I progressed to making some of my own furniture and such using plans from The New Yankee Workshop (a PBS show that ended about 10 years ago).

Building boats is actually fairly easy, but they are long term projects. You need patience and perseverance for the most part, and a good design/plans that match your skill set. I ended up using hand tools at least, if not more than, power tools.

Yes that's him! This is such an interesting show. It makes me want a wood shop full of traditional tools.

I wish I had a chance to learn more of these things in high school in college. But it's fun to start now, anyway. I get such enjoyment out of making things. Much better than spending too much time in your head or staring at screens :)
Title: Re: 2019 fire cohort
Post by: CryingInThePool on March 23, 2017, 08:32:34 AM
Drawing my line in the sand (cement?mud?).     

June 2019 at 44.

I was in the class of 2016 but I've been OMYing, for a few reasons, since mid 2015.  Still not sure when I'll pull the plug (could be this year or next) but I'm going on record that June 2019 will bring an end to my case of OMY syndrome once and for all. 

Even if the Reality TV Bully guts ACA;  I need to move on.



Title: Re: 2019 fire cohort
Post by: itchyfeet on March 23, 2017, 09:11:47 AM
Welcome aboard!

June 2019 is my outter marker too.

Hopefully December 2018.
Title: Re: 2019 fire cohort
Post by: VoteCthulu on March 23, 2017, 02:01:56 PM
Yeah, if the market keeps going 2018 isn't out of the question, but I wouldn't want to retire into a bubble. Well see how it goes, maybe I'll ge laid off and coast into retirement.
Title: Re: 2019 fire cohort
Post by: zinnie on March 23, 2017, 02:56:14 PM
Welcome CryingInThePool! If you've already OMYed, I vote for drawing your line in the cement.

And the Reality TV Bully isn't having much luck today, at least! :)
Title: Re: 2019 fire cohort
Post by: MoMan on March 23, 2017, 03:05:01 PM
I'm secretly hoping for a layoff, but they don't appear to be on the horizon for my company ... although we did just turn in some shitty numbers for the most recent earnings period. And there have already been consequences, but not in my area.

I've hit my FI number but I'm holding out for lifetime (I still gotta pay the premiums) company health care which kicks in when I turn 55. Considering the agitation surrounding the ACA, I am forcing myself to gut it out.

Only 928 more days!

BTW VoteCthulu, I am about 3/4 of the way thru LivingaFI's blog; just finished the Work Experience postings. Holy Hell. I have absolutely NOTHING worth complaining about at my cushy job (and yet, I still do, but only privately).
Title: Re: 2019 fire cohort
Post by: Roboturner on March 23, 2017, 03:28:16 PM
BTW VoteCthulu, I am about 3/4 of the way thru LivingaFI's blog; just finished the Work Experience postings. Holy Hell. I have absolutely NOTHING worth complaining about at my cushy job (and yet, I still do, but only privately).

That work series is one of the best blogs I've ever read. So good!
Title: Re: 2019 fire cohort
Post by: VoteCthulu on March 23, 2017, 04:27:34 PM
Funny, I've seen several links to that blog, but never cared for it.

I'm currently in the position where I don't hate my job, but every day it get's a bit worse and it's a bit harder to remind myself of the good things about it. I often ask myself what else I might do instead for the next 2 years until I retire, but nothing seems like a better option yet.
Title: Re: 2019 fire cohort
Post by: Livingthedream55 on March 24, 2017, 01:56:05 PM
I have a countdown app on my phone - 797 days.

I am taking vacation time - one or two days a month - to make for some nice long weekends.

I am planning fun mini 2-3 day vacations (I have one for May and one for June planned)- need to create something for April.

Hoping for an early retirement incentive at my job (I've seen them offered every couple of years or so - last one was this fall but the numbers were not yet right for me - and financially not really generous - - but I hope I can land a little bonus next round if it's offered anywhere near my projected FIRE date)
Title: Re: 2019 fire cohort
Post by: HBFI on March 25, 2017, 11:49:14 AM
BTW VoteCthulu, I am about 3/4 of the way thru LivingaFI's blog; just finished the Work Experience postings. Holy Hell. I have absolutely NOTHING worth complaining about at my cushy job (and yet, I still do, but only privately).

That work series is one of the best blogs I've ever read. So good!

+1.  Dr. Doom is hands down my favorite writer.  Partially because my experience resonates with his, but mostly because I think his style and humor make for easy reading.  I understand why doesn't write as much anymore, but selfishly wish he would.
Title: Re: 2019 fire cohort
Post by: VoteCthulu on March 26, 2017, 12:31:49 AM
Hoping for an early retirement incentive at my job (I've seen them offered every couple of years or so - last one was this fall but the numbers were not yet right for me - and financially not really generous - - but I hope I can land a little bonus next round if it's offered anywhere near my projected FIRE date)
I wish our company didn't require age 55+ for their early retirement packages, but I'm not going to stick around that long.

I also have a countdown app for my phone, but I have 933 days left.
Title: Re: 2019 fire cohort
Post by: MoMan on March 27, 2017, 08:15:11 AM
... but I have 933 days left.

Sounds like we'll be raising a toast just a few days apart: My plan is to exit Oct. 7.
Title: Re: 2019 fire cohort
Post by: zinnie on March 28, 2017, 09:21:38 PM
Some days I feel like I'm just coasting and 2019 will be here before I know it. Others, I feel like I can't stand to spend one more day sitting in my office staring at my computer. Every morning I get immersed in something I really want to finish, only to have to drop it to get to work on time. I wish I could find a way to extract more hours from a day, somehow. My problem isn't so much that I have to go to work, it's just that there isn't enough time for both work AND life. Right now my life just feels like it is always in various stages of incomplete. All of my good ideas and projects are just waiting for some later date when I'll actually have the time to finish them. Because no matter how engaged I am in something, when the clock hits a certain time I have to stop and head to work.

I've been vacillating between quitting now to take a year off, and sticking it out. When I do the math and look at how much taking a year off would set me back, the obvious choice is to stay. But when I have a long, exhausting day at work like I did today, where even once I'm free I can't do much except relax and fall asleep early, it just feels like too much wasted life.
Title: Re: 2019 fire cohort
Post by: Bateaux on March 28, 2017, 10:20:54 PM
Time is racing by.  Sorry I  haven't provided dates and age.  Make it June 2019 at age 50.  Stash is growing quick.  Pretty much up to what goes on with health-care now.  I've saved plenty enough (1.5M) to cover voluntary spending.  For the next two years I'm building an additional health care stash of (500k).  We have about 300k to go and we are building at a rate of $500 daily now.
Title: Re: 2019 fire cohort
Post by: Livingthedream55 on March 29, 2017, 08:15:28 AM
Some days I feel like I'm just coasting and 2019 will be here before I know it. Others, I feel like I can't stand to spend one more day sitting in my office staring at my computer. Every morning I get immersed in something I really want to finish, only to have to drop it to get to work on time. I wish I could find a way to extract more hours from a day, somehow. My problem isn't so much that I have to go to work, it's just that there isn't enough time for both work AND life. Right now my life just feels like it is always in various stages of incomplete. All of my good ideas and projects are just waiting for some later date when I'll actually have the time to finish them. Because no matter how engaged I am in something, when the clock hits a certain time I have to stop and head to work.

I've been vacillating between quitting now to take a year off, and sticking it out. When I do the math and look at how much taking a year off would set me back, the obvious choice is to stay. But when I have a long, exhausting day at work like I did today, where even once I'm free I can't do much except relax and fall asleep early, it just feels like too much wasted life.

Zinnie,

How about taking some time off now (soon)?
Title: Re: 2019 fire cohort
Post by: VoteCthulu on March 29, 2017, 04:45:19 PM
I feel much the same, zinnie, but I'm pretty sure that if I took a year off there's no way I'd ever go back to an office job, so I'm going to stick it out. Others might take a year off and be energized and refreshed by it, so you'll have to do what's right for you.
Title: Re: 2019 fire cohort
Post by: zinnie on March 29, 2017, 06:41:03 PM

Some days I feel like I'm just coasting and 2019 will be here before I know it. Others, I feel like I can't stand to spend one more day sitting in my office staring at my computer. Every morning I get immersed in something I really want to finish, only to have to drop it to get to work on time. I wish I could find a way to extract more hours from a day, somehow. My problem isn't so much that I have to go to work, it's just that there isn't enough time for both work AND life. Right now my life just feels like it is always in various stages of incomplete. All of my good ideas and projects are just waiting for some later date when I'll actually have the time to finish them. Because no matter how engaged I am in something, when the clock hits a certain time I have to stop and head to work.

I've been vacillating between quitting now to take a year off, and sticking it out. When I do the math and look at how much taking a year off would set me back, the obvious choice is to stay. But when I have a long, exhausting day at work like I did today, where even once I'm free I can't do much except relax and fall asleep early, it just feels like too much wasted life.

Zinnie,

How about taking some time off now (soon)?

A year or just vacation? I've been taking time off when I can, lots of long weekends, and we have a big trip coming up in April. I actually quit a few months ago and then panicked and changed my mind, which only confirmed that I have an awesome boss. (He was understanding about everything when I told him, kept it between us until it was two weeks out, and then when I changed my mind before that he became extra accommodating to try to keep me. Now he's actually told me to try working seven hour days, and take lots of vacation. So it just makes me feel like a whiney a-hole to still consider leaving.)

I feel much the same, zinnie, but I'm pretty sure that if I took a year off there's no way I'd ever go back to an office job, so I'm going to stick it out. Others might take a year off and be energized and refreshed by it, so you'll have to do what's right for you.

That's what I'm worried about too! Better to get it over with. And also just that I don't know how hard it will be to find something comparable, especially salary-wise. It could take at least a couple years to get back to where I am, and by then I could have been done! But then I worry I'm focused too much on money. If having all of this money buys me anything, it should be the right to take a year off when I really want to. But that's still just a scary prospect, because we will probably have to move when I need to find new work, and the timing works better for my husband, and being able to travel without worrying about dog care, if I wait a couple of years.

Thanks for letting me talk this out! Anyone else taken a year off, or have any thoughts on the pros/ cons?
Title: Re: 2019 fire cohort
Post by: zinnie on March 29, 2017, 06:43:17 PM
Time is racing by.  Sorry I  haven't provided dates and age.  Make it June 2019 at age 50.  Stash is growing quick.  Pretty much up to what goes on with health-care now.  I've saved plenty enough (1.5M) to cover voluntary spending.  For the next two years I'm building an additional health care stash of (500k).  We have about 300k to go and we are building at a rate of $500 daily now.

Congrats that you're already covering your spending! 50 is a nice round number, as is $500/day, wow! :)
Title: Re: 2019 fire cohort
Post by: Trifele on March 30, 2017, 03:54:29 AM
I feel much the same, zinnie, but I'm pretty sure that if I took a year off there's no way I'd ever go back to an office job, so I'm going to stick it out. Others might take a year off and be energized and refreshed by it, so you'll have to do what's right for you.

+2.  I feel the same as Zinnie.  I too have a fantastic job, great boss, great co-workers. And yet I am really struggling. 2019 feels soooo far away when you feel like this.  But I am with you VoteCthulu -- I feel like if I stopped now I would never go back.  So like Dory in Finding Nemo, I repeat to myself "Just keep swimming.  Just keep swimming."
Title: Re: 2019 fire cohort
Post by: zinnie on March 30, 2017, 10:31:56 AM
I feel much the same, zinnie, but I'm pretty sure that if I took a year off there's no way I'd ever go back to an office job, so I'm going to stick it out. Others might take a year off and be energized and refreshed by it, so you'll have to do what's right for you.

+2.  I feel the same as Zinnie.  I too have a fantastic job, great job, great co-workers. And yet I am really struggling. 2019 feels soooo far away when you feel like this.  But I am with you VoteCthulu -- I feel like if I stopped now I would never go back.  So like Dory in Finding Nemo, I repeat to myself "Just keep swimming.  Just keep swimming,"

Glad I'm not the only one. And I love your motto--thanks! I'll use it today :)
Title: Re: 2019 fire cohort
Post by: RetirementDreaming on March 30, 2017, 10:39:03 AM
I feel much the same, zinnie, but I'm pretty sure that if I took a year off there's no way I'd ever go back to an office job, so I'm going to stick it out. Others might take a year off and be energized and refreshed by it, so you'll have to do what's right for you.

+2.  I feel the same as Zinnie.  I too have a fantastic job, great job, great co-workers. And yet I am really struggling. 2019 feels soooo far away when you feel like this.  But I am with you VoteCthulu -- I feel like if I stopped now I would never go back.  So like Dory in Finding Nemo, I repeat to myself "Just keep swimming.  Just keep swimming,"

Glad I'm not the only one. And I love your motto--thanks! I'll use it today :)

I'm using it today too. 
Title: Re: 2019 fire cohort
Post by: itchyfeet on March 31, 2017, 04:29:29 PM
I also keep having the internal debate on whether I could take a year off and then get back to saving whatever else I still need to save, but like others the thought of taking a big pay cut is keeping me trucking on for now.
Title: Re: 2019 fire cohort
Post by: Chairman on April 03, 2017, 08:31:12 AM
Not sure if I belong in this cohort, but anyway, here's the plan:


My thinking is to not literally retire in 2019, but rather to have enough money that we won't have to work in order to live frugally (for our family ó me, DW and small children ó that's about $2k/month). So from that point on, it's all gravy.
Title: Re: 2019 fire cohort
Post by: zinnie on April 03, 2017, 08:35:48 PM
Welcome, Chairman! I like your approach to semi-FIRE--I've been tossing around trying that myself.

Can you explain more about your plan with the mortgage and "safe investments"? I'm not sure I follow--is the idea just to have enough that you could pay off the mortgage if you wanted to, but you won't actually pay it off?

Here's to 2019!
Title: Re: 2019 fire cohort
Post by: Chairman on April 04, 2017, 12:44:37 AM
Can you explain more about your plan with the mortgage and "safe investments"? I'm not sure I follow--is the idea just to have enough that you could pay off the mortgage if you wanted to, but you won't actually pay it off?
Yes, that's exactly the idea. For peace of mind, have it earning modest returns but not 100% stock market where half of it could disappear from one month to the next.
Title: Re: 2019 fire cohort
Post by: itchyfeet on April 06, 2017, 01:07:21 PM
Just checking in from the Seychelles. Good times, but back to work next week.

March was yet another bumper month for us, despite our travels. 2017 has started off incredibly well.

We are now at 21x our spending target. At 25x we press the eject button and parachute into a new life.

Looking very good for late 2018 or early 2019.
Title: Re: 2019 fire cohort
Post by: VoteCthulu on April 11, 2017, 11:03:35 AM
I'd never heard of Seychelles before, but it looks like a tropical paradise! I wish my work brought me there instead of the polluted industrial cities I normally spend most of my trips in.
Title: Re: 2019 fire cohort
Post by: itchyfeet on April 11, 2017, 11:42:55 AM
I'd never heard of Seychelles before, but it looks like a tropical paradise! I wish my work brought me there instead of the poluted industrial cities I normally spend most of my trips in.

Indeed it was a tropical paradise, but don't feel alone as I also spend more than enough time in polluted industrial cities in KSA and the like. I can't imagine my employer ever funding a trip to the Seychelles.
Title: Re: 2019 fire cohort
Post by: MoMan on April 20, 2017, 08:14:10 PM
Today marks a mini milestone for me: 900 days to FIRE! (early Oct. 2019 for those who don't want to do math).

Yes, it feels like a long ways to go right now, but acknowledging these milestones helps me visualize progress. In January, I still had 1,000 days to go. In July, it will be 800 days. PLUS: that 900 figure represents CALENDAR days. Actual work days (subtracting weekends, holidays, paid time off) drops it in the neighborhood of 600.

My job is usually pretty easy: I'm a creative copy writer. I'm well respected and very appreciated; well compensated for what I do. Never work overtime/weekends. The people I work with, including my bosses, are nice. And yet, I hate it. Can't help it. Which makes me feel a little guilty.

I actually have enough saved/invested to support myself now but I'm holding out for another 30 months because of what I believe will be a lucrative benefit: Lifetime company health care. I still have to pay the premiums, but since it's a ginormous international company, I'm guessing it will be more affordable than either COBRA or getting added to my wife's plan (and who knows what the hell to expect from the ACA). I can also add beneficiaries later. Once I turn 65, it resorts to secondary insurance to supplement Medicare.

I checked today and I do indeed need to be 55 or older (as opposed to retiring earlier in the calendar year when I turn 55). I can't get an estimate of premiums until I'm 180 days from retirement. Oh well. The best part is, if the shit hits the fan and I decide I can't stand it, I can pull the plug tomorrow and be fine.

Man, the waiting is hard.

Title: Re: 2019 fire cohort
Post by: Trifele on April 21, 2017, 04:22:21 AM
That health insurance benefit is really great, MoMan.  That is my biggest uncertainty about FIRE,, and you will have it taken care of.  Awesome!

Just did my counts and I am at 833 days total, 535 work days until August 1, 2019.  I have a great job too, but this run-up period is hard.  I may pull the plug early.   I definitely have to work until January 1, 2019 to become fully vested in the 401k employer contributions, but after that I would probably be ok to FIRE . . .   
Title: Re: 2019 fire cohort
Post by: albireo13 on April 21, 2017, 02:07:27 PM
OK, am 61 and I am planning on May 1, 2019.    This gives me time to pay off debt, dial down the lifestyle and get my things in order.
That plus, I wouldn't mind growing the stash a bit more.


If things get too nutty at work, I may pull the plug earlier.
Title: Re: 2019 fire cohort
Post by: Bateaux on April 21, 2017, 04:24:53 PM
Looks to be about 770 days till June 1, 2019.  Going to take plenty of vacation time early in the year as well.
Title: Re: 2019 fire cohort
Post by: PhilB on April 22, 2017, 11:28:59 AM
799 days to go!
It feels like 2 years is going to be the big milestone, then at 1 year I open negotiations with the boss to see if they are interested in me doing a couple of days a week working from home, school terms only.  If they say no, I just give them 12 months notice then retire completely.  If they say yes then I'll try it for a few years while the kids are still in high school.  I hope this won't get me thrown out by the internet retirement police!
Title: Re: 2019 fire cohort
Post by: albireo13 on April 26, 2017, 04:54:38 AM
799 days to go!
It feels like 2 years is going to be the big milestone, then at 1 year I open negotiations with the boss to see if they are interested in me doing a couple of days a week working from home, school terms only.  If they say no, I just give them 12 months notice then retire completely.  If they say yes then I'll try it for a few years while the kids are still in high school.  I hope this won't get me thrown out by the internet retirement police!

Good point.   My current plan is to next year ask for partial work at home hours.   Even one day from home would help.  I commute 1 hr each way 5 days a week and these old bones just don't handle it as well as they used to.   If I am refused, I may just accelerate my retirement schedule.    : )
Title: Re: 2019 fire cohort
Post by: itchyfeet on April 26, 2017, 12:02:32 PM
With FIRE so close, I find the anticipation escalating higher and higher as each month end approaches to see what progress I have made in the past month.

How much did we save? How much did our investments return?

The last 3 months have been incredibly good to us. Our net worth increased by nearly 10% in only 3 months. The power of leverage, when returns are in your favour!!!!

 I rolled the dice by taking on a lot of debt and it has worked out great. However, I am certainly not blind to the risks, and now want to de-leverage ASAP.

Unfortunately, I fear April will see a bit of a correction to our real estate assets, which may mean our net worth will decrease over April despite good savings for the month, and some ok share market gains.

I won't know until around 3 May the property indexes for the cities I have places in, but I am eagerly waiting the info.

I am not sure how I will feel if our NW decreases at this point.

In some way I am finding comfort that if the heat comes out of our assets a little, even though I lose money on paper, maybe my FIRE will have a marginally higher chance of success as I will work a few extra months to offset any shortfall, and get to my number.

Bring on month end!! Show me what ya got!!!
Title: Re: 2019 fire cohort
Post by: MoMan on April 26, 2017, 08:01:30 PM
Yes, I feel your anxiety. My investable assets are on the brink of the $1M mark after the incredible run up this past year. And I know that the markets are due for a correction of some sorts. I have to remind (convince?) myself that when it inevitably happens, regardless, my portfolio will eventually recover. But for the time being, I'm feeling a little smug ... especially because I ignored a financial advisor who told me my portfolio is pretty aggressive for my retirement goal.
Title: Re: 2019 fire cohort
Post by: EscapeVelocity2020 on April 26, 2017, 08:42:14 PM
Yes, I feel your anxiety. My investable assets are on the brink of the $1M mark after the incredible run up this past year. And I know that the markets are due for a correction of some sorts. I have to remind (convince?) myself that when it inevitably happens, regardless, my portfolio will eventually recover. But for the time being, I'm feeling a little smug ... especially because I ignored a financial advisor who told me my portfolio is pretty aggressive for my retirement goal.

I first crossed the million mark mid-2008.  I thought it was too good to be true and really just wanted everything to slow down, so I sold off heavily in my most risky assets.  Not long after, the markets began to plummet.  I ultimately lost 250k when the S&P hit 667, mostly because I bought back in after a 20% decline, then 30%, and then as much as I could although I was all-in.  I also continued to dollar cost average in since my job was secure and I was an expat with a little extra income.  That whole strategy, ultimately, worked out very nicely and I could've confidently retired with 80k/yr, 4% SWR at 37 (2011).  Maybe I should've started a blog :)  But international business travel and carefree FI isn't such a bad alternative.

I also wouldn't mind one more good downturn that I can buy into to while I'm still working, as opposed to going out only to find out shortly thereafter that I was buying high for the last several years...
Title: Re: 2019 fire cohort
Post by: itchyfeet on April 26, 2017, 09:19:59 PM
I am an expat too, but jaded with work travel.

Looking forward to slow travel as opposed to flying into a country in the morning and flying back home on the red eye that same day/ night. Urgh!

Well done on the timing in 2008-9. I certainly wasn't a millionaire back then, so my losses and gains were small.

I am also working towards a fairly spendy retirement. I'll sleep better at night.
Title: Re: 2019 fire cohort
Post by: markbike528CBX on April 29, 2017, 12:18:57 AM
Updated table


Most Righteous
Alias
Age at
FIRE
Target
Date
Date Confirmed


2Birds1StoneJan-19
zinnie35Feb-19
MissNancyPryor50Mar-19
Roboturner30Mar-19
Luck1241Apr-19
albireo1361May-1-19
Livingthedream5559May-19
cerat0n1aMay-19
dude54May-19
SamIAm3829May-19
oldtoyotaJun-19
Itchyfeet47Jun-19
PhilB53Jun-19
Bateaux50Jun-19
CryingInThePool44Jun-19
powersuitrecall47Jul-19
Enigma39Jul-19
Thedividebyzero45Jul-19
Trifele52Aug-19
RetirementDreamingSep-19
VoteCthulu39Oct-19
trix7643Oct-19
MoMan55Oct-19
markbike528CBX55Dec-19
HBFI38Dec-19
luckyme1345Dec-19
ParizadeTBD
madamwitty36TBD
Lowerbills40TBD
Chrissy42TBD
GerardTBD
getoutsoon52TBD
ysette938late-19TBD
elaine amj40TBD
IplawyerTBD
ChairmanTBD-SemiFire

Edit to add confirm date in case someone graduates early.
Title: Re: 2019 fire cohort
Post by: Bateaux on April 29, 2017, 08:41:50 AM
Thank you for the update.
Title: Re: 2019 fire cohort
Post by: HBFI on April 29, 2017, 08:47:06 AM
I'm not sure if I'm the only one feeling this way, but I feel like I'm more in cruise control of a marathon heading into the last couple miles.  Yes, I'm pretty over work and looking forward to the race being over, but there is also this calming recognition that it's almost complete.  In past years I've struggled more with the immense amount of time I felt like I had to go and how much more $$ I still needed.  Now I feel like I've shifted into the early part of a phase where I'm beginning to think about how to wrap things up.  My official date is Dec-19, but I'm strongly considering March or April 2019.  When I think that way, less than 2 years, it feels so close now.  I don't know why two years feels different to me, it just does.  I mean the stache is so padded at this point that very little could change that trajectory. 

Even if a huge crash happens soon I would see it more as a benefit as I could pour that final 2 years of income straight into equities.  But if the market keeps rising, I'm in the position now of allocating a substantial proportion of new cash flows to short-term bonds (VBIRX) as I've been 100% equities my entire investing life and want to have a few years income in liquid, lower volatility securities (I also plan to keep 1 year expenses in a money market).

At work yesterday one of the guys I work for was screaming at someone on the phone (totally unnecessary btw) and I could see the younger associates visibly uncomfortable.  I, on the other hand, was relaxed to the point of a zen-like state even after he walked into my office angrily ranting about the phone person and pounding on the wall.  In the past I probably would have felt uncomfortable as well.  One of the young associates remarked about how relaxed I looked through the whole thing and said that I was smiling.  I responded to him "eh, whatever man" and put my headphones back in.  It's an awesome feeling wearing this protective coating that comes from FI.  Fear of unemployment, company bankruptcy, unreasonable personalities, etc. is kind of removed from my equation at this point.  This mental shift has really just happened for me in the last couple months.  I'm rather enjoying it :)
Title: Re: 2019 fire cohort
Post by: Bateaux on April 29, 2017, 07:12:34 PM
^^^Ditto HBFI.  It's kinda done already.  I'm trying to put away another 15%.  It's not required however and most of that will be done by investments.  So we could beat 2019 most likely.   That's really to keep our grown kids under our health care.
Title: Re: 2019 fire cohort
Post by: itchyfeet on April 29, 2017, 09:41:55 PM
^^^ 15% to go for us too. But I really want that 15% for the choices it will give us, so we will push hard until the end .

...... a further 5-10% Above that would be great too, but I am going to do my best to resist OMY in the expectation that we will pick up a little extra at some future point (social security, inheritance, casual work etc).
Title: Re: 2019 fire cohort
Post by: albireo13 on April 30, 2017, 05:24:09 AM
Hey, I just notice I'm the oldest guy on the list!
I'm working on FI but, won't make the RE part.   
Title: Re: 2019 fire cohort
Post by: Trifele on April 30, 2017, 06:04:09 AM
Hey, I just notice I'm the oldest guy on the list!
I'm working on FI but, won't make the RE part.

I think you'll be RE Albireo.  Under 65 = earlier than 'normal'.  Plus you will be in a great place financially, which definitely cannot be said of all 'normal age' retirees. 

Keep on trucking, everyone!
Title: Re: 2019 fire cohort
Post by: itchyfeet on May 01, 2017, 07:01:34 AM
So April financial results are in.

Better than I feared.

 - Sydney property flat lined, but did not decline (yet).
 - Small increase on Brisbane property, getting it back in the black for the year.
 - Very decent return from share market investments.
 - Good savings again from salary and rental income.

This has all resulted in our stash now being 21.3x desired annual retirement budget, or a withdrawal rate of 4.7% if I stopped work today.

85.3% of the way to the finish line!!!
Title: Re: 2019 fire cohort
Post by: dude on May 01, 2017, 07:22:12 AM
Updated table


Most Righteous
Alias
Age at
FIRE
Target
Date
Date Confirmed


2Birds1StoneJan-19
zinnie35Feb-19
MissNancyPryor50Mar-19
Roboturner30Mar-19
Luck1241Apr-19
albireo1361May-1-19
Livingthedream5559May-19
cerat0n1aMay-19
dude54May-19
SamIAm3829May-19
oldtoyotaJun-19
Itchyfeet47Jun-19
PhilB53Jun-19
Bateaux50Jun-19
CryingInThePool44Jun-19
powersuitrecall47Jul-19
Enigma39Jul-19
Thedividebyzero45Jul-19
Trifele52Aug-19
RetirementDreamingSep-19
VoteCthulu39Oct-19
trix7643Oct-19
MoMan55Oct-19
markbike528CBX55Dec-19
HBFI38Dec-19
luckyme1345Dec-19
ParizadeTBD
madamwitty36TBD
Lowerbills40TBD
Chrissy42TBD
GerardTBD
getoutsoon52TBD
ysette938late-19TBD
elaine amj40TBD
IplawyerTBD
ChairmanTBD-SemiFire

Edit to add confirm date in case someone graduates early.

Oh man, yep, there I am.  This coming Sunday, May 7, I will go under the 2-year mark and thus will be able to say I've got "one and change" to go. As I've stated in other parts of this forum, my FIRE plans are a little complicated by the fact that I'll retire 5-7 years before my wife as there's a 7-year difference in age between us, and she was very slow to get on the ball (back before we were married) and start saving. Currently, we've got $966k saved/invested, with a NW @ $1.5M. May 7, 2019 is the date I become eligible to start collecting my pension, and is the date I will officially go. I'll be able to cover my share of household expenses with pension + 401k withdrawals (@1.5% burn rate), but plan to work part-time at a hobby/passion job to supplement savings (probably into a Roth IRA). When the wife calls it quits, I'll have to bump up withdrawals to 3-4% until SS kicks in at 70, at which point we'll likely have more money than we'll know what to do with.

Each work day is becoming more and more of a grind. It's not hard or unpleasant or stressful, it's just that I have to be HERE and not somewhere else of my choosing every damn week day. I feel a bit like a prisoner, but with only two years to go to shed those golden handcuffs, I'll do my bid with all the grace I can muster. The last few years flew by so fast, I can't imagine these next two won't go by even faster.
Title: Re: 2019 fire cohort
Post by: MoMan on May 01, 2017, 11:59:14 AM
Each work day is becoming more and more of a grind. It's not hard or unpleasant or stressful, it's just that I have to be HERE and not somewhere else of my choosing every damn week day. I feel a bit like a prisoner ...

Exactly how I feel. I'm kind of grateful that I didn't realize until a couple of years ago how attainable RE would be for me. Having more than 4 or 5 years to slog thru would just about do me in. Right now, it's 29 months and 1 week.

Not sure if I feel more like a prisoner or more like The Corporation is stealing beautiful days from my limited life. Either way, I resent it.

Well, time to get back to kicking that anvil through the swamp.
Title: Re: 2019 fire cohort
Post by: CryingInThePool on May 01, 2017, 12:22:21 PM
I share the excitement about getting under the 2 year mark which for me is coming up in June.  I've heard there is relief in hitting/saying this is the last time I'll do X but maybe because it's closer I'm also fairly stoked to be hitting the 'I only have to do that once more stage'.  There's something about REing at the half year mark that gives me a little thrill around the idea that 2018 is the last full calendar year of employment. 

So from June on when I complete a seasonal deliverable I'll get to say I only have to do X or be around for Y once more! Because H2 2018 will be the last time since I won't be around for H2 2019.  A small victory that mentally feels bigger :)
Title: Re: 2019 fire cohort
Post by: powersuitrecall on May 02, 2017, 08:55:38 AM
A brief history of us and our FIRE journey
==========================

Mr. PowerSuitRecall - 40s
Ms. Awesome - 30s
Kid 1 - 5yo
Kid 2 - 3yo

We started our FIRE journey in earnest in early 2014.  Our kids were 6 months and 2.5 years - our lives were busy!  We were about to renew our mortgage and had been throwing everything extra we had at it.  Our modest investment portfolio grew with the market but remained somewhat neglected.  Retirement seemed a distant thought. I assumed that we both would work another 15 years.  I hadn't worked out the numbers though, and in doing so I happened across MMM's site.  I quickly discovered that we could retire sooner.  Much sooner!  But it required action!

We moved our investments from our active commission-based FA to DIY/diverse/passive, started tracking expenses, stopped extra mortgage payments, and started piling money into our neglected investment accounts.  We started being more conscious of spending and held off on big expenses like cars and renovations.

Three years later our resolve towards FIRE has only strengthened.  We are on track for retirement in 2019 for myself, while Ms. Awesome follows in 1 or 2 years (she loves her job and is great at it).  As we hit the upcoming 2-years-to-go mark in July, we will make the final payments to both our mortgage and our youngest's daycare.  Our savings rate will then be in the 70% range.

I echo the sentiments of the last couple of posts regarding work.  I'm fortunate enough to have a pretty fun and low stress job that pays well.  Unfortunately at times it can be unbearably boring.  I Recently made a lateral move into a more exciting project, and it's given me a bit of a second wind.  Even still, while I don't dread work, I feel uncomfortable with the idea of being forced to sit here while I could be at home with the kids, or working my to-do list.

I'm looking forward to following everyone here through the next couple of years.  Thanks for your posts and inspiration.
Title: Re: 2019 fire cohort
Post by: Cornbread OMalley on May 04, 2017, 07:05:14 PM
Most Righteous
Alias
Age at
FIRE
Target
Date
Date Confirmed


2Birds1StoneJan-19
zinnie35Feb-19
MissNancyPryor50Mar-19
Roboturner30Mar-19
Luck1241Apr-19
albireo1361May-1-19
Livingthedream5559May-19
cerat0n1aMay-19
dude54May-19
SamIAm3829May-19
oldtoyotaJun-19
Itchyfeet47Jun-19
PhilB53Jun-19
Bateaux50Jun-19
CryingInThePool44Jun-19
powersuitrecall47Jul-19
Enigma39Jul-19
Thedividebyzero45Jul-19
Trifele52Aug-19
RetirementDreamingSep-19
VoteCthulu39Oct-19
trix7643Oct-19
MoMan55Oct-19
markbike528CBX55Dec-19
HBFI38Dec-19
luckyme1345Dec-19
ParizadeTBD
madamwitty36TBD
Lowerbills40TBD
Chrissy42TBD
GerardTBD
getoutsoon52TBD
ysette938late-19TBD
elaine amj40TBD
IplawyerTBD
ChairmanTBD-SemiFire

Edit to add confirm date in case someone graduates early.
Looks like my kind of crowd!  I'm joining in!  Here's my info:  Cornbread OMalley/42/August 2019
Title: Re: 2019 fire cohort
Post by: zinnie on May 05, 2017, 05:29:54 PM
Welcome, Cornbread!

This morning I was finally allowed to sell some stock options after a long blackout period, and bumped myself up into January 2019. It was also the first day back after a three-week vacation, and I had 381 unread emails, which just reinforced how ready I am to be on vacation full-time.

Just over 20 months left.
Title: Re: 2019 fire cohort
Post by: Cornbread OMalley on May 05, 2017, 08:21:47 PM
Welcome, Cornbread!

This morning I was finally allowed to sell some stock options after a long blackout period, and bumped myself up into January 2019. It was also the first day back after a three-week vacation, and I had 381 unread emails, which just reinforced how ready I am to be on vacation full-time.

Just over 20 months left.
Thanks!  I hear you on that full-time vacation!  The last 24 months have seen me go through a transformation from learning about this FI stuff.  The education combined with a declining office environment has got my mindset similar to yours in regards to working.  The good news is the next two years will go by fast.
Title: Re: 2019 fire cohort
Post by: zinnie on May 08, 2017, 10:24:53 AM
Welcome, Cornbread!

This morning I was finally allowed to sell some stock options after a long blackout period, and bumped myself up into January 2019. It was also the first day back after a three-week vacation, and I had 381 unread emails, which just reinforced how ready I am to be on vacation full-time.

Just over 20 months left.
Thanks!  I hear you on that full-time vacation!  The last 24 months have seen me go through a transformation from learning about this FI stuff.  The education combined with a declining office environment has got my mindset similar to yours in regards to working.  The good news is the next two years will go by fast.

I sure hope it goes by fast :)
Title: Re: 2019 fire cohort
Post by: VoteCthulu on May 08, 2017, 11:50:10 AM
890 days... It feels very slow to me right now, but I know looking back it will seem fast.

On the plus side, I'm ahead of schedule for hitting my number. Unfortunately the high p/e and medical insurance changes may warrant raising my number a bit. We'll see how it goes.
Title: Re: 2019 fire cohort
Post by: Trifele on May 09, 2017, 05:05:28 AM
814 days/520 work days

116 weeks/~104 work weeks

Feels like it is going so slowly . . . I have a challenging summer project that hopefully will take my mind off the FIRE clock.  At our house (just moved in last year) there is an old human-made pond with a rock streambed/waterfall combo above it.  It must have been very beautiful once, but it hasn't been used in years.   The kids and I are going to try to rehab it on the cheap.   Curious to see what we find living in the pond.  I know the tree frogs are using it to lay their eggs in the spring.  Hopefully once we rehab it and get the water flowing again the frogs will still be able to do that.   I'll have to dive deep (ha!) into the world of garden ponds and learn about it.  It will be quite a project.   
Title: Re: 2019 fire cohort
Post by: celticblue on May 09, 2017, 09:09:29 AM
Mainly posting to follow.

But hoping that I am RE  by 5 November 2019. Am now just FI based on current lifestyle but have ambitions to change that lifestyle significantly and am planning the funding accordingly. Regardless of whether I achieve the lifestyle change I still want to have Nov 2019  as my cut off date.

Has anyone else noticed how quickly the stash grows towards the end? I can now grow it more in a year than I did in my first 10 years. That is very sobering and now I more completely understand OMY syndrome. I feel like I owe it my very hard working younger self. I look back at how much I sacrificed in the beginning. It kind of makes me sad. And endlessly grateful to my former self. Wish I could go back and give a hug.

Title: Re: 2019 fire cohort
Post by: itchyfeet on May 09, 2017, 12:17:22 PM
Yes, my NW chart looks exponential as well.

Contrary to the thinking in the Early Retirement blogosphere I am glad I didn't spend my 20s worrying about money when I had so little. I was being paid chicken feed compared to my 30s. In my 30s I started to have real money to worry about.

The backpacking, partying, study etc that I did in my early 20s was a far better use of my meagre funds for me, than it being invested somewhere given it was not much anyways..... but yes, it's true I am still working at 45 when others have already FIRED.  Good for them. I enjoyed my 20s.

Of course, I am equally glad I did not accumulate any consumer debt in my 20s, otherwise the outcome would have been very different.

I also have to thank my luck in my 20s, because I did make one investment early in my working career that was a big winner.

At 24 I got a job that came with a car, so I took the opportunity to sell my car and used the cash from the sale as a down payment on a cheap apartment as a rental investment.

I bought the apartment for $95K and sold it 3 years later for $180K. A great kick start to my savings.

(Note: not all luck given the fact that I had paid cash for my car originally and not borrowed, so obviously had saved a little money at some point early in my career between bar nights.)

Title: Re: 2019 fire cohort
Post by: Cornbread OMalley on May 09, 2017, 04:08:20 PM
Has anyone else noticed how quickly the stash grows towards the end? I can now grow it more in a year than I did in my first 10 years. That is very sobering and now I more completely understand OMY syndrome. I feel like I owe it my very hard working younger self. I look back at how much I sacrificed in the beginning. It kind of makes me sad. And endlessly grateful to my former self. Wish I could go back and give a hug.

Yes, my NW chart looks exponential as well.

Contrary to the thinking in the Early Retirement blogosphere I am glad I didn't spend my 20s worrying about money when I had so little. I was being paid chicken feed compared to my 30s. In my 30s I started to have real money to worry about.
Same here.  The rate at which the stash now grows is astounding.  The amount that I invested while I was in my 20s was a pittance compared to how much I invest now.  But money I invested during my 20s is now doing all the work.  I definitely had the mindset of traditional retirement and had my fun up to age 36 when the idea of FIRE crept into my mind, became full blown at age 38, and changed how I thought about retirement.  Changed my life.
Title: Re: 2019 fire cohort
Post by: MoMan on May 10, 2017, 10:04:05 AM
Yes, the growth rate recently has been astounding. Combine a good-sized 'stache with some big market days and it can grow $10k overnight!!

I too feel grateful about how I spent my time and money in my 20s and 30s. I graduated college with a small student loan balance (felt enormous at the time) and found a low-paying job at a nonprofit. That forced me to live cheap, but I was still having fun going camping and backpacking with friends. Fortunately, I maintained much of that frugal lifestyle so I could ramp up my savings to buy a house. I also took a job in the financial industry to get an education in personal finance. The whole thing has really paid off and I'm now pretty set for FIRE.
Title: Re: 2019 fire cohort
Post by: Cornbread OMalley on May 11, 2017, 09:41:51 AM
My situation is a wee different.  I guess I should be cohort 2017, but I'm in the military and have a service obligation until 2019, which means I cannot truly add the 'RE' part to the 'FI' part until 2019.  Basically I just have to suck it up in the office environs for another two years before I'm done and free.  But it's not all bad as I have the advantage of taking my steady paycheck and over the next two years aggressively padding my stash.  And the big prize at 20 years of service is the annual pension of roughly $40K paid out for the rest of my life.
Title: Re: 2019 fire cohort
Post by: zinnie on May 11, 2017, 01:26:29 PM
Yes, the growth rate recently has been astounding. Combine a good-sized 'stache with some big market days and it can grow $10k overnight!!

I too feel grateful about how I spent my time and money in my 20s and 30s. I graduated college with a small student loan balance (felt enormous at the time) and found a low-paying job at a nonprofit. That forced me to live cheap, but I was still having fun going camping and backpacking with friends. Fortunately, I maintained much of that frugal lifestyle so I could ramp up my savings to buy a house. I also took a job in the financial industry to get an education in personal finance. The whole thing has really paid off and I'm now pretty set for FIRE.

To your point, I don't even understand how I got so much in so little time. I've never tried to go through my records to try to figure it out but in 2010 I bought a house with a down payment that depleted the majority of my savings, and now I am somehow 20 months from my FI number.

I have a similar story to you. Always lived way below my means and always saved. At some point in my early working life I realized that I was really, really happy when I was in college and living off $13k-18k a yearóso why should I need to increase my spending close to my income the way others did? At my first job I lived in the SF Bay area and made $14/hour. Some months I only saved $50 or $100, and I was only contributing the minimum to my 401K, but I was always able to save something.

My situation is a wee different.  I guess I should be cohort 2017, but I'm in the military and have a service obligation until 2019, which means I cannot truly add the 'RE' part to the 'FI' part until 2019.  Basically I just have to suck it up in the office environs for another two years before I'm done and free.  But it's not all bad as I have the advantage of taking my steady paycheck and over the next two years aggressively padding my stash.  And the big prize at 20 years of service is the annual pension of roughly $40K paid out for the rest of my life.

That's an amazing deal to wait for, though. And health benefits too, right? Congrats on being FI, anyway. And itís not the worst thing that youíre forced into adding to the stash!
Title: Re: 2019 fire cohort
Post by: MoMan on May 11, 2017, 03:26:28 PM
Always lived way below my means and always saved.

Well, I wish I could say "always"! The truth is, about a dozen years ago I started telling myself, "I deserve this"; "I'm making $XX so I can afford it" etc. for my car, ski trips, tools, etc.  Then I had an epiphany while sitting in traffic in my Infinity SUV:

"Wait a minute. I'm really hating my job, and instead of making me happier, this $38,000 SUV is making me more miserable because now I have to stay at the job I hate to pay for this SUV. And even worse, the SUV doesn't solve one of the worst aspects of my job: sitting in 2 mph bumper-to-bumper traffic." Within the year I sold the SUV and bought a new (facepunch) Subaru Outback for about $23k (still driving it). Paid it off in3 years. In the meantime, I took a 25% paycut for a job that made me much happier (thanks FU money!!). And that, ironically, is when the 'stache really started to grow. That was around 2005-2008. I work in the financial industry, so fortunately I knew enough not to panic in 2009 but instead, keep on keeping on.

Discovering MMM was like discovering my own species! It has really helped me fine tune what I was already doing and adjust my perspective on spending and happiness.
Title: Re: 2019 fire cohort
Post by: Trifele on May 12, 2017, 03:41:21 AM
Always lived way below my means and always saved.

Discovering MMM was like discovering my own species! It has really helped me fine tune what I was already doing and adjust my perspective on spending and happiness.

+1.  I only discovered MMM three years ago, but am now very close to FIRE.  These folks are my tribe.
Title: Re: 2019 fire cohort
Post by: zinnie on May 12, 2017, 04:48:31 AM
Always lived way below my means and always saved.

Well, I wish I could say "always"! The truth is, about a dozen years ago I started telling myself, "I deserve this"; "I'm making $XX so I can afford it" etc. for my car, ski trips, tools, etc.  Then I had an epiphany while sitting in traffic in my Infinity SUV:

"Wait a minute. I'm really hating my job, and instead of making me happier, this $38,000 SUV is making me more miserable because now I have to stay at the job I hate to pay for this SUV. And even worse, the SUV doesn't solve one of the worst aspects of my job: sitting in 2 mph bumper-to-bumper traffic." Within the year I sold the SUV and bought a new (facepunch) Subaru Outback for about $23k (still driving it). Paid it off in3 years. In the meantime, I took a 25% paycut for a job that made me much happier (thanks FU money!!). And that, ironically, is when the 'stache really started to grow. That was around 2005-2008. I work in the financial industry, so fortunately I knew enough not to panic in 2009 but instead, keep on keeping on.

Discovering MMM was like discovering my own species! It has really helped me fine tune what I was already doing and adjust my perspective on spending and happiness.

That's an awesome story! As we all know, most people don't have that realization, ever. Or at least not until it's way way too late. And good for you for NOT panicking during the downturn. I'm still trying to prep myself, since the majority of my investing has been post-2008.

Always lived way below my means and always saved.

Discovering MMM was like discovering my own species! It has really helped me fine tune what I was already doing and adjust my perspective on spending and happiness.

+1.  I only discovered MMM three years ago, but am now very close to FIRE.  These folks are my tribe.

Agreed! The first few MMM articles I read blew my mind, and also were a perfect fit for optimizing my own life.
Title: Re: 2019 fire cohort
Post by: Cornbread OMalley on May 12, 2017, 07:11:59 AM
... health benefits too, right?
I have to research more into the health benefits.  It's not totally free, but I don't have the numbers on annual costs for us military retirees.  I'll be doing another financial evaluation on myself in the coming months after I do my homework into the healthcare side of things.  I was of the mindset of traditional retirement at age 65 until I read MMM two years ago.  It was introduced to me by a friend and was probably one of the most pivotal moments in my life.  My friend also hit the seven-digit milestone a few weeks ago!
Title: Re: 2019 fire cohort
Post by: PhilB on May 12, 2017, 08:20:01 AM
There's something about REing at the half year mark that gives me a little thrill around the idea that 2018 is the last full calendar year of employment.

That thought absolutely made my day, thanks CITP.  Somehow the last half of this year, one final full year and then the first half of 2019 seems a lot shorter than '2 years to go'!

+1 on enjoying your twenties then saving hard when you have a bigger salary.  I don't begrudge a penny of what I spent travelling and having fun then.

+1 also on the insane rate of stash growth recently.  I ticked off another milestone today going through the £700k mark in my own pension accounts.  That's a £150k increase in 12 months!
Title: Re: 2019 fire cohort
Post by: Trifele on May 12, 2017, 01:00:29 PM
There's something about REing at the half year mark that gives me a little thrill around the idea that 2018 is the last full calendar year of employment.

That thought absolutely made my day, thanks CITP.  Somehow the last half of this year, one final full year and then the first half of 2019 seems a lot shorter than '2 years to go'!


Whoa!  Wow.  Thank you for that thought CITP.  You just made my day too!
Title: Re: 2019 fire cohort
Post by: markbike528CBX on May 12, 2017, 04:24:25 PM
Despite having a date out here on the internet, it now seems more official, now that I've informed my boss.

The warnings about informing my boss of my plans on one of the Post-FIRE threads didn't worry me to much.

    a) getting passed over for promotions ---meh
    b) not getting raises - meh--  no one here is getting raises in the foreseeable future anyway
    c) getting laid off early - Whoohoo! Bring it ON!
    d) bad blood with boss - I got nothing but a wistful jealousy.
Title: Re: 2019 fire cohort
Post by: Trifele on May 12, 2017, 06:01:32 PM
Despite having a date out here on the internet, it now seems more official, now that I've informed my boss.

The warnings about informing my boss of my plans on one of the Post-FIRE threads didn't worry me to much.

    a) getting passed over for promotions ---meh
    b) not getting raises - meh--  no one here is getting raises in the foreseeable future anyway
    c) getting laid off early - Whoohoo! Bring it ON!
    d) bad blood with boss - I got nothing but a wistful jealousy.

Wow, Mark -- you did that early! I can't remember your situation . . .  why did you give notice so early?   [It sounds great, BTW, and I can't wait for that day myself]
Title: Re: 2019 fire cohort
Post by: markbike528CBX on May 12, 2017, 09:14:24 PM
Trifele:


It's not really a "notice", just a heads up to a nice boss.

Mostly is meh---    I just wanted to have a situation where I DON'T need to "create drama"  ie. not fire-escape epic as above in this thread.

We are pretty much at a FIRE number.  See line c)

I didn't surprise my boss much, as I had previously had a talk that didn't have a exact date in it.
 
Title: Re: 2019 fire cohort
Post by: Trifele on May 13, 2017, 04:51:55 AM
Trifele:


It's not really a "notice", just a heads up to a nice boss.

Mostly is meh---    I just wanted to have a situation where I DON'T need to "create drama"  ie. not fire-escape epic as above in this thread.

We are pretty much at a FIRE number.  See line c)

I didn't surprise my boss much, as I had previously had a talk that didn't have a exact date in it.

Ah!  Got it.  I have a great boss too, so I may go this route and give a super long heads up.  Glad it went well!
Title: Re: 2019 fire cohort
Post by: twell1 on May 15, 2017, 01:50:43 PM
I'll throw in.  Target July 2019.  I'll still be 50 at that date.  Nice round number.  Could possibly retire sooner, but guilt/obligation keeps me.  My company brought me back from working at a big four firm.  I was glad to be out.  With most of my direct reports retiring over the next 24 months, they are expecting me to manage the transition.  I feel obligated to work out the succession plan before I drop the bombshell on our CFO & VP.  This will come as quite a surprise. 
Title: Re: 2019 fire cohort
Post by: Trifele on May 16, 2017, 04:45:56 AM
Welcome Twell1!  I am right behind you, at August 1.  Man that is going to be a great summer. 
Title: Re: 2019 fire cohort
Post by: VoteCthulu on May 16, 2017, 03:25:15 PM
Trifele:


It's not really a "notice", just a heads up to a nice boss.

Mostly is meh---    I just wanted to have a situation where I DON'T need to "create drama"  ie. not fire-escape epic as above in this thread.

We are pretty much at a FIRE number.  See line c)

I didn't surprise my boss much, as I had previously had a talk that didn't have a exact date in it.

Ah!  Got it.  I have a great boss too, so I may go this route and give a super long heads up.  Glad it went well!
My boss it pretty reasonable, but the senior leadership is not. They recently screwed over a couple of great people who gave extended notice, so in my opinion they deserve no notice from me at all. I'll still probably give 2 weeks, though, but only for my own peace of mind.
Title: Re: 2019 fire cohort
Post by: itchyfeet on May 16, 2017, 09:12:08 PM
I am contractually obligated to give 3 months notice :-/
It will be a long 3 months!
Title: Re: 2019 fire cohort
Post by: MoMan on May 17, 2017, 09:15:08 AM
They recently screwed over a couple of great people who gave extended notice, so in my opinion they deserve no notice from me at all.

Yeah, I like my immediate bosses pretty well and would like to give them a month's notice, but it is critical to my plan that I be employed on my 55th birthday to qualify for the healthcare benefit. I can just see HR escorting me out the door when I'm 54 years, 11 1/2 months old to save MegaCorp a nickel.
Title: Re: 2019 fire cohort
Post by: markbike528CBX on May 17, 2017, 10:37:55 AM
Yeah, I like my immediate bosses pretty well and would like to give them a month's notice, but it is critical to my plan that I be employed on my 55th birthday to qualify for the healthcare benefit. I can just see HR escorting me out the door when I'm 54 years, 11 1/2 months old to save MegaCorp a nickel.

I also have to be 55.01 yrs to be "retired".  I'm not sure how that translates to the "retiree health insurance rates".  There is seemingly contradictory info in the policies (how it stretches to Medicare).   If 55 doesn't really mean I would get insurance rates, we might be looking at TLY (Two Less Years), as the retiree rates are the thin thread that has my date pinned at 12/01/19.

MoMan, give a months notice the day after your 55th B-day, that way you are covered.
Title: Re: 2019 fire cohort
Post by: Livingthedream55 on May 19, 2017, 12:27:19 PM
Yeah, I like my immediate bosses pretty well and would like to give them a month's notice, but it is critical to my plan that I be employed on my 55th birthday to qualify for the healthcare benefit. I can just see HR escorting me out the door when I'm 54 years, 11 1/2 months old to save MegaCorp a nickel.

I also have to be 55.01 yrs to be "retired".  I'm not sure how that translates to the "retiree health insurance rates".  There is seemingly contradictory info in the policies (how it stretches to Medicare).   If 55 doesn't really mean I would get insurance rates, we might be looking at TLY (Two Less Years), as the retiree rates are the thin thread that has my date pinned at 12/01/19.

MoMan, give a months notice the day after your 55th B-day, that way you are covered.

+1
Title: Re: 2019 fire cohort
Post by: Linea_Norway on May 22, 2017, 07:27:00 AM
Carefully taking a look into this thread. When running our own numbers, it seems to be possible to semi-FIRE in 2019. DH agreed with me on this.
And it would only require working 50% for a year or 2 before we could full time FIRE. Working 50% would also feel like a good step into the right direction.

For the record, I'm born in 73 and my DH in 70 so we would be under 50 at semi-FIRE.
Title: Re: 2019 fire cohort
Post by: Trifele on May 22, 2017, 09:21:41 AM
Carefully taking a look into this thread. When running our own numbers, it seems to be possible to semi-FIRE in 2019. DH agreed with me on this.
And it would only require working 50% for a year or 2 before we could full time FIRE. Working 50% would also feel like a good step into the right direction.

For the record, I'm born in 73 and my DH in 70 so we would be under 50 at semi-FIRE.

Welcome to the thread Linda! I have seen many of your posts and admire your discipline.  Norway sounds like an expensive place to live, and it probably takes that kind of discipline to grow the 'stache.   It is great that you are both in a position to semi-FIRE first.   
Title: Re: 2019 fire cohort
Post by: Cornbread OMalley on May 22, 2017, 10:21:57 AM
Norway sounds like an expensive place to live...
Very expensive place indeed.  I plan to revisit in the future to hike more of the fjords.
Title: Re: 2019 fire cohort
Post by: Linea_Norway on May 22, 2017, 11:17:00 AM

Welcome to the thread Linda! I have seen many of your posts and admire your discipline.  Norway sounds like an expensive place to live, and it probably takes that kind of discipline to grow the 'stache.   It is great that you are both in a position to semi-FIRE first.

Thank you. Discipline is quite easy as long as you are burning for something. I am the kind of person who can get really interested in a subject and throw all my attention at it, until it fades away a bit. This MMM thing is still at it's height in my mind. And as I now have a big hairy GOAL that is so close, with the reward of freedom, is easy to keep motivated. For the rest, we have been living frugally like this since we moved to Norway in 1998.
Title: Re: 2019 fire cohort
Post by: TartanTallulah on May 24, 2017, 09:25:56 AM
Hiya! I'm a long time lurker and a new registrant, and aiming for a "career break" starting at or around the end of March 2019, at which time I'll be 55. This site, and one or two other PF resources, have convinced me to think differently about money and retirement.

I've already got the means to fund a very cheeseparing sort of retirement, but I like my job more than I'd like having to count every farthing, and it's possible that I may discover that I like my job even if I'm not relying on it to put bread on the table, or decide to plunge into a new career since I will only be 55, which isn't old nowadays. I've worked hard all my life (and spent big, mainly due to having had many children, not all of them launched yet, and having opted for the luxury of a stay-at-home spouse until the children had all finished high school, but also due to a couple of stupid financial decisions that seemed the right thing to do at the time) and would like to take some time out to see whether I really want to do the things I always say I'd do if I wasn't at work.

My plan isn't very complicated. Save like Ebenezer into an interest-paying cash account between now and then (22 paychecks to go) while maintaining my pension payments, aiming to be able to live off the cash savings alone for at least a year, and leave my job with my bridges unburned. And cut back on regular expenses. We're not frivolous spenders, though we do have one expensive hobby (biking, not in the Mustachian sense) that gives us a lot of pleasure, but I've been spurred on to shop around for insurance quotes (I knew I might not be getting the most advantageous rates, but I didn't realise how much my "valued loyalty" was costing me), set up a pension fund for my spouse who will be a non-taxpayer in retirement, and warn my adult offspring that I have neither the means nor the inclination to fund more than one household so if they want to go away to study they will have to have their own income.

The tough part might be making myself make the break. I foresee discussions along the lines of, "Couldn't you just cut your hours?" or, "Could we ask you to cover if we have an emergency?" and that won't work. Leaving the thin end of the wedge in the crack with the hammer in someone else's hands won't work at all.
Title: Re: 2019 fire cohort
Post by: wannabe-stache on May 24, 2017, 12:11:02 PM
Didn't  see  a 2019 fire cohort here yet.  Thread started.

Goal Nov 2019 (we finish turning 55).   

Mortgage and late-life student loans will be paid off, a key gatekeeper.

We could be FIRED before, but 2019 seems a reasonable goal.

Question for those that, upon reading MMM, decided when to FIRE:  did you change the way you spend? or did you simply decide that the 4% SWR was a "law" and based your FIRE date on that?

I am curious whether or not most folks on this site truly changed the way they lived (spending $2/person/meal, biking everywhere, etc.) or if they simply feel more comfortable knowing when they are "safe" to retire.
Title: Re: 2019 fire cohort
Post by: Linea_Norway on May 24, 2017, 02:01:31 PM
Didn't  see  a 2019 fire cohort here yet.  Thread started.

Goal Nov 2019 (we finish turning 55).   

Mortgage and late-life student loans will be paid off, a key gatekeeper.

We could be FIRED before, but 2019 seems a reasonable goal.

Question for those that, upon reading MMM, decided when to FIRE:  did you change the way you spend? or did you simply decide that the 4% SWR was a "law" and based your FIRE date on that?

I am curious whether or not most folks on this site truly changed the way they lived (spending $2/person/meal, biking everywhere, etc.) or if they simply feel more comfortable knowing when they are "safe" to retire.

We have been saving A LOT each year by doing nothing special. So no, we won't be changing our lifestyle. Although I am motivated to save some extra now, knowing that the goal is near. Early retirement is something my DH suggested before, as we saved about 1 net spending amount a year. We discussed that each year working would lead to one year earlier retirement. But I had no idea of when to really be able to retire, until I read about the 4% rule and read about people like us doing this for real.
Title: Re: 2019 fire cohort
Post by: markbike528CBX on May 24, 2017, 03:09:36 PM
Question for those that, upon reading MMM, decided when to FIRE:  did you change the way you spend? or did you simply decide that the 4% SWR was a "law" and based your FIRE date on that?

I am curious whether or not most folks on this site truly changed the way they lived (spending $2/person/meal, biking everywhere, etc.) or if they simply feel more comfortable knowing when they are "safe" to retire.

OP here:
I was already planning on 55-59 "Retire Early".
The clues I found (tax benefits, SEPP for spending flexibility) here certainly pulled the date toward 50-55 (52 now).   

My wife had been planning on 65+ before we were married.
As soon as we can have some non-denial on spending we can FIRE with ease and comfort on both our parts.   
She doesn't even want to _look_ at her, relatively small,  spending.

I've never been super frugal, just very selective on spending I wanted.
I put off buying a house until after we married, even with a lot of family pressure to do so "you have the money, spend it".
On the non-frugal side, I used to race motorcycles, which gets spendy and exponentially increases spending when you crash (often), even with no major health issues for 10 years.  Spend estimate $40K
 
Title: Re: 2019 fire cohort
Post by: HBFI on May 24, 2017, 05:14:51 PM
TartanTallulah: Welcome!  The part time option is something I suspect we all think about in advance.  Based on your own questions, it sounds like you need to enter that conversation with a firm 'no'.  Otherwise you'll probably let them talk you into it, even if you don't want it.

wannabe-stache:  I always was always fairly frugal, but discovering the FIRE community led me to make some meaningful changes on the spending side.  I've become much more mindful and have literally cut out the eat out work lunches in favor of bringing $2 healthier, tastier food to work.  Have also gotten much better about taking advantage of tax opportunities (IRA vs. Roth due to conversion ladder, HSA).  I've always been on the FIRE path, pre-hearing that acronym, but the change in mind after discovering this community has led me to cutting back my FIRE date by ~6-7 years.  Less tangible speaking, I've changed my view on many aspects of life.  Before I still worried about presenting some degree of 'Joneses' image of success.  Exploring the philosophy and mindset of this community has helped me focus on being true to myself and not being concerned about others views, whether co-workers, friends or family.  It's much more liberating to not feel like I need to do anything other that what I deem the right path for myself.  So yeah the financial part changed, but the non-financial part changed more.
Title: Re: 2019 fire cohort
Post by: Trifele on May 24, 2017, 05:31:29 PM
@Wannabe Stache -- we were always fairly frugal, but yes discovering MMM did inspire us to spend differently.  I became more aware of how habits affected spending, and how little things add up.  And I definitely had my eyes opened that we could literally retire early.  I never seriously thought about it before.  There is a saying that "When the student is ready, the teacher appears."  And that was definitely true for me. 

Three years ago I told my younger brother about MMM -- and he really went wild.  He got even more frugal (he was already super thrifty) and he FIRE'd a year ago at age 45!!  Seeing him actually jump out of the plane and pull the ripcord really made it real for me.   He is a lurker on this forum -- has never posted once -- but he is the real deal.  Very proud of him.     
Title: Re: 2019 fire cohort
Post by: Eric on May 24, 2017, 05:46:38 PM
Question for those that, upon reading MMM, decided when to FIRE:  did you change the way you spend? or did you simply decide that the 4% SWR was a "law" and based your FIRE date on that?

It's a good place to start.  A lot depends on how flexible your spending is, how much fat is in your budget, whether you're willing to earn more if needed, etc.  The "good" part is usually you have multiple years to decide on your comfort level, to research, to debate, and generally decide if it works for you as is, is too conservative, or too risky.  Or maybe you decide that you'd prefer a non-static spending model all together, going with a variable spend model.  It takes a little while to get used to the function, but www.cFIREsim.com is an awesome simulator that has many available methodologies, so you can test portfolio withdrawal methods and amounts just like the Trinity Study did to come up with 4% and various other options.


I am curious whether or not most folks on this site truly changed the way they lived (spending $2/person/meal, biking everywhere, etc.) or if they simply feel more comfortable knowing when they are "safe" to retire.

I changed a lot.  I went from a 25 mile, 1 hour each way driving commute to getting a new job with a 7 mile each way bike commute.  I've been bike commuting full time for 4+ years now.  I cut my grocery bill in half, moved to a cheaper apartment, massively curtailed the restaurant spending and made a number of other changes including things as simple as adjusting my perspective on money in general.
Title: Re: 2019 fire cohort
Post by: Eric on May 24, 2017, 05:48:09 PM
I'm going to join y'all's cohort group.  Barring a major economic meltdown, I think it's a near certainty that I'm going to pull the plug in 2019.  Hopefully earlier than later.  :)
Title: Re: 2019 fire cohort
Post by: Trifele on May 24, 2017, 06:34:47 PM
I'm going to join y'all's cohort group.  Barring a major economic meltdown, I think it's a near certainty that I'm going to pull the plug in 2019.  Hopefully earlier than later.  :)

Welcome Eric!  :)
Title: Re: 2019 fire cohort
Post by: itchyfeet on May 24, 2017, 09:23:35 PM
I'd say that our day to day spending hasn't changed. In fact, we are currently spending a lot as we work as expats and are wanting to explore the region as much as we can while we are here, so are spending a small fortune on flights etc.

I was already planning on FIRE (without knowing the term) when I found ERE and then MMM and bogleheads etc. MMM in particular has helped me clarify a plan, as before I was unaware of safe withdrawal rates etc.

I don't see 4% as a rule, but given nobody knows the future at some point you need to take a leap of faith. I am willing to role the dice at 4% knowing I may have to spend less (unlikely) or be able to spend more (highly likely) in retirement. DW is a teacher and could easily pick up some temp work if need be also.
Title: Re: 2019 fire cohort
Post by: elaine amj on May 24, 2017, 09:41:22 PM
I'm hesitant about jumping into this cohort with both feet - but I'd like to aim towards a 2019 FIRE date. We already have enough according to my (optimistic calculations) so now we are working on buffer savings and OMY syndrome. Plus DH has health issues which makes it more nerve-wracking to cut the cord. Especially since our spending has gone up this year due to said health issues.

As for whether our day to day spending has changed - I would say we are more mindful and purposeful. I have no issues spending on things I value. The being mindful part has been great to push us to reduce spending on things we don't value. We ditched life insurance, home phone, cable, etc. I also bike commute now, which is cool. Most important change is that I am much more hands-on with our finances now. Before I left most of it to DH. It's nice that we both work together on it now. I handle the planning, reconciling, and budgeting and he handles the day to day bills.

Before I was rather depressed whenever I looked at the numbers for retirement. Our financial planner would tell us our 20% savings rate was awesome - but the numbers he churned out showed that even that savings rate wouldn't be enough to retire at a normal age.

MMM showed me that I didn't need that much plus I could save more than I thought. For that, I will be forever grateful.


Sent from my iPhone using Tapatalk
Title: Re: 2019 fire cohort
Post by: PhilB on May 25, 2017, 10:25:20 AM
Question for those that, upon reading MMM, decided when to FIRE:  did you change the way you spend? or did you simply decide that the 4% SWR was a "law" and based your FIRE date on that?

I am curious whether or not most folks on this site truly changed the way they lived (spending $2/person/meal, biking everywhere, etc.) or if they simply feel more comfortable knowing when they are "safe" to retire.
Not much changed in what we spent as we were always reasonably frugal and very much 'second marshmallow' people.  What changed was my understanding of the relationship between money, spending and happiness and MMM got me to really look at the question 'Will x% more money make me y% happier?'.  Being comfortable with the answer to that is what's making early retirement feasible.
Title: Re: 2019 fire cohort
Post by: itchyfeet on May 25, 2017, 11:48:14 AM
I ask myself daily whether x% more will make me y% happier and I can't find the answer.

Maybe it's because I am already a pretty happy camper so there isn't the critical impetus to make a clear life altering decision.

How much is enough???? What do I want the next 40 or more years to look like???

Should I stop work in 2019, or even today, just because I can? Or should I pile my stash even higher so I can surpass the Joneses?

I know the right answer, or otherwise I wouldn't spend so much time here.

But I feel like I am a regular churchgoer, and a complete believer, who is patiently waiting to receive the word of god. So far he won't speak to me (I am atheist. Maybe that's the problem hahaha).
Title: Re: 2019 fire cohort
Post by: wannabe-stache on May 25, 2017, 02:34:01 PM
Question for those that, upon reading MMM, decided when to FIRE:  did you change the way you spend? or did you simply decide that the 4% SWR was a "law" and based your FIRE date on that?

I am curious whether or not most folks on this site truly changed the way they lived (spending $2/person/meal, biking everywhere, etc.) or if they simply feel more comfortable knowing when they are "safe" to retire.
Not much changed in what we spent as we were always reasonably frugal and very much 'second marshmallow' people.  What changed was my understanding of the relationship between money, spending and happiness and MMM got me to really look at the question 'Will x% more money make me y% happier?'.  Being comfortable with the answer to that is what's making early retirement feasible.

I appreciate everyone's responses.  I am not too worried about our situation, but it's due to luck as much as anything.  I read graham and lynch when i was a kid so maxed out 401K every year since college, saved a lot of $ elsewhere, and have a good job.  so does DW.  At 37/33 yrs of age, we already have $1.5M net worth, excluding probably $500k of home equity.  A lot of folks might FIRE at that amount i suppose.  Our spend is just too high.

The first kid is coming soon so i am being overly cautious.  i am also learning that my wife can accept reducing our costs but will probably cut my throat before letting me push mustachianism on our newborn.

Someone introduced me to this forum 3 weeks ago and since then i have started taking public transit so i can let my gas guzzling BMW sit in the driveway until i sell it...insisted we shop at costco more often for non-perishables...wondered if i could cut my own hair...etc etc.  Today i spent time researching "cord cutting".  i can't wait to tell comcast to f off.

It feels pretty life changing to be honest.
Title: Re: 2019 fire cohort
Post by: elaine amj on May 25, 2017, 02:49:07 PM
The first kid is coming soon so i am being overly cautious.  i am also learning that my wife can accept reducing our costs but will probably cut my throat before letting me push mustachianism on our newborn.

For me, it's as much about hating waste as anything else. I have no interest in deprivation. Or a Jacob ERE-type lifestyle (although I remember thinking it was rather cool). MMM showed me I could live a comfy middle-class life on much, much less money than I thought. My thought processes just changed to "how little do I need to live on" and that has been pretty empowering vs feeling deprived. I'm not lacking anything, I'm just making my life more efficient and not spending for the sake of spending. It was interesting when we started questioning all our sacred cows.
Title: Re: 2019 fire cohort
Post by: PhilB on May 25, 2017, 03:33:15 PM
The first kid is coming soon...

Quote
Today i spent time researching "cord cutting".
Am I the only one who put these two together reading wannabe-stache's post and got entirely the wrong idea?
Title: Re: 2019 fire cohort
Post by: Eric on May 25, 2017, 04:00:04 PM
The first kid is coming soon...

Quote
Today i spent time researching "cord cutting".
Am I the only one who put these two together reading wannabe-stache's post and got entirely the wrong idea?

DIY is the MMM way!
Title: Re: 2019 fire cohort
Post by: itchyfeet on May 25, 2017, 11:44:39 PM
The first kid is coming soon...

Quote
Today i spent time researching "cord cutting".
Am I the only one who put these two together reading wannabe-stache's post and got entirely the wrong idea?

DIY is the MMM way!

Haha 😂🔪
Title: Re: 2019 fire cohort
Post by: Cornbread OMalley on May 26, 2017, 06:49:55 AM
Question for those that, upon reading MMM, decided when to FIRE:  did you change the way you spend? or did you simply decide that the 4% SWR was a "law" and based your FIRE date on that?

I am curious whether or not most folks on this site truly changed the way they lived (spending $2/person/meal, biking everywhere, etc.) or if they simply feel more comfortable knowing when they are "safe" to retire.
I totally changed my spending when I read MMM.  I stopped buying little knick-knacks, started biking and walking more, reduced drinking, reduced eating out, etc.  I trimmed off excess spending and got a baseline of what I needed to FIRE, compared that to my streams of income, and found I was in an excellent position.  Totally changed my perspective on things because before MMM I was on the path to traditional retirement at age 65.  I was introduced to MMM by a friend, and I later called to personally thank her.  I use the 4% SWR as a guide and am building in flexibility in my finances before I pull the plug. 
Title: Re: 2019 fire cohort
Post by: TartanTallulah on May 26, 2017, 11:04:07 AM
Didn't  see  a 2019 fire cohort here yet.  Thread started.

Goal Nov 2019 (we finish turning 55).   

Mortgage and late-life student loans will be paid off, a key gatekeeper.

We could be FIRED before, but 2019 seems a reasonable goal.

Question for those that, upon reading MMM, decided when to FIRE:  did you change the way you spend? or did you simply decide that the 4% SWR was a "law" and based your FIRE date on that?

I am curious whether or not most folks on this site truly changed the way they lived (spending $2/person/meal, biking everywhere, etc.) or if they simply feel more comfortable knowing when they are "safe" to retire.

We have been saving A LOT each year by doing nothing special. So no, we won't be changing our lifestyle. Although I am motivated to save some extra now, knowing that the goal is near. Early retirement is something my DH suggested before, as we saved about 1 net spending amount a year. We discussed that each year working would lead to one year earlier retirement. But I had no idea of when to really be able to retire, until I read about the 4% rule and read about people like us doing this for real.

Yes! Reading this site made me stop and add up the assets we have now instead of dwelling on lost investments of bygone days and wondering, "What if ...?" I've made some unwise decisions over the years, but I've never spent money I didn't have and we are in a reasonable position now.

And made me think, "How little could we live on? How much more than that do we want enough to work and save for it now? How quickly can we have that much without me doing my current job? What strategies are available to us?"

And I dared to make an actual plan, and disclose it to my husband in detail, and tell my ancestors and descendants the bare facts - I am going to take some time off work at 55, it may or may not become permanent, and yes, we will be able to afford it.

Instead of a vague, blurred picture I now have several sharp outline drawings of our financial future, each factoring in different variables.
Title: Re: 2019 fire cohort
Post by: powersuitrecall on May 26, 2017, 11:21:14 AM
Question for those that, upon reading MMM, decided when to FIRE:  did you change the way you spend? or did you simply decide that the 4% SWR was a "law" and based your FIRE date on that?

I am curious whether or not most folks on this site truly changed the way they lived (spending $2/person/meal, biking everywhere, etc.) or if they simply feel more comfortable knowing when they are "safe" to retire.

Pre MMM we were on track for early retirement, but hadn't realized it.  We have always been frugal and fiscally responsible.  For instance we strived to maintain a lifestyle that one of us could sustain, even though we both had full time employment (instant 50% savings rate).  We didn't track spending, and were inexperienced with investing.  We had a Financial Advisor who had us in GICs, a bucketful of individual stocks, and mutual funds.

Reading MMM and other FI blogs pushed us to be more conscious about our finances.  We started to track our spending, cut out some waste, didn't upgrade our paid-off 4 year old car (the horror!), and put a home renovation on hold.  We also became informed about investing, promptly dumping our FA for a DIY brokerage.  In the last 3 years we've increased our savings rate from 50% to 65%, and more than doubled our retirement stash.  It's never felt like a struggle.  We've been very lucky.

I'd say the biggest change post-MMM has been how confident I feel about our household finances - zero stress.  Now I lose more sleep being excited about what the future holds.  Speaking of which, I'm extremely excited to be a part of this thread and follow along with everyone here :)
Title: Re: 2019 fire cohort
Post by: RunningWithScissors on May 26, 2017, 11:35:16 AM
I was in the 2020 FIRE cohort but I'll lurk here as I might be FIREing early.  As a couple,  our net worth is now $1.5M and my husband has realized that he only needs to work 40 hours per month to cover our expenses.  He doesn't want to retire but is starting to acknowledge that it's getting more difficult to keep up his customary 35 hours/week 'table time' (he's a massage therapist).  I, on the other hand, am ready to 'run for the hills' right now.

I did a cFIREsim calculation last week, and the probability of success starts to dip slightly below 100% once our annual expenses reach $70K/yr.  Since our actual expenses are around $55K right now, with an oversize expensive house, that was very encouraging. My biggest concern is the bridging financing to get us from where we are now (I'm 49, he's 56) to when our pensions kick in (federal and very small government pension for me). 

It's still seems unreal that FIRE is on the horizon.  I don't have any real life role models so finding the MMM community has been inspiring and reassuring. 
Title: Re: 2019 fire cohort
Post by: Trifele on May 26, 2017, 04:57:48 PM
I check in now and again on the 2017 FIRE thread.  It is super inspiring, watching them actually pull the trigger one by one and mark themselves as "confirmed FIREd" on the member list.  Love it!





 
Title: Re: 2019 fire cohort
Post by: itchyfeet on May 26, 2017, 11:42:47 PM
I check in now and again on the 2017 FIRE thread.  It is super inspiring, watching them actually pull the trigger one by one and mark themselves as "confirmed FIREd" on the member list.  Love it!

Agreed! Makes me what to leave this cohort and move to the 2017 crowd.
Title: Re: 2019 fire cohort
Post by: Trifele on May 27, 2017, 04:52:31 AM
I check in now and again on the 2017 FIRE thread.  It is super inspiring, watching them actually pull the trigger one by one and mark themselves as "confirmed FIREd" on the member list.  Love it!

Agreed! Makes me what to leave this cohort and move to the 2017 crowd.

You should do it Itchy!  But then you have to let us come visit you in the Seychelles, or Istanbul, or wherever you happen to be. :)

When I read the 2017 thread I always think, "That will be us in less than two years.  Mark will be updating the list monthly with 'Confirmed', 'Confirmed', 'Confirmed."
Title: Re: 2019 fire cohort
Post by: itchyfeet on May 27, 2017, 11:53:31 AM
I don't think we'll be heading back to the Seychelles anytime soon, as beautiful as it is, but we do have big plans for our first year post FIRE.

We definitely won't be joining the 2017 mob though, mores the pity. I am too chicken shit. Lol. Maybe 2018 (DW is pushing for this).....most probably 2019.

If we had quit At 30 April this year, our stash was around 21.5x desired annual expenses, which is in the range of what's likely to be needed for a variable withdrawal model. We are def getting close.
Title: Re: 2019 fire cohort
Post by: markbike528CBX on May 27, 2017, 04:50:02 PM

Most Righteous Alias Age at
FIRE
Target
Date
Date Confirmed


2Birds1StoneJan-19
zinnie35Feb-19
MissNancyPryor50Mar-19
Roboturner30Mar-19
TartanTallulah55Mar-19
Luck1241Apr-19
albireo1361May-1-19
Livingthedream5559May-19
cerat0n1aMay-19
dude54May-19
SamIAm3829May-19
oldtoyotaJun-19
Itchyfeet47Jun-19
PhilB53Jun-19
Bateaux50Jun-19
CryingInThePool44Jun-19
powersuitrecall47Jul-19
Enigma39Jul-19
Thedividebyzero45Jul-19
Trifele52Aug-19
Cornbread OMalley42Aug-19
RetirementDreamingSep-19
VoteCthulu39Oct-19
trix7643Oct-19
MoMan55Oct-19
markbike528CBX55Dec-19
HBFI38Dec-19
luckyme1345Dec-19
ParizadeTBD
madamwitty36TBD
Lowerbills40TBD
Chrissy42TBD
GerardTBD
getoutsoon52TBD
ysette938late-19TBD
elaine amj40TBD
IplawyerTBD
ChairmanTBD-SemiFire

I figured we should update the list at least once per page.  If I missed anyone, add yourself in
Title: Re: 2019 fire cohort
Post by: Linea_Norway on May 29, 2017, 01:36:52 AM

And made me think, "How little could we live on? How much more than that do we want enough to work and save for it now? How quickly can we have that much without me doing my current job? What strategies are available to us?"


For our FIRE plans, we haven't really asked the question: how little could we live on. Although I asked it a little bit, we have counted on using in FIRE as much as we are using today. My DH says we need to calculate that we might want to travel more, so we shouldn't budget too tightly. But we will need to watch that we don't develop expensive habits after FIRE that make us use more money than we do today.
Title: Re: 2019 fire cohort
Post by: itchyfeet on May 31, 2017, 11:38:18 AM
So, another month done.... and I will report in as is my "tradition".

Well May was a bit of a bummer. Our stash dropped by about $20K AUD. The Oz stockmarket dropped a little over the month (3-4%) and so did Sydney property (~1.3%). Not exactly huge drops but more than enough to counter my savings efforts.

Adding to my negative investing returns, we also had an expensive month and our savings rate was only 25% and not the targeted >50%. There were many reasons for this, but we will definitely need to exercise a little more restraint in coming months to get us back on track.

The good news was that my international shares did pretty well. In particular UK shares climbed nearly 4% in the month.

Hoping for a better outcome in June, particularly on the saving front.

Title: Re: 2019 fire cohort
Post by: Cornbread OMalley on June 01, 2017, 07:13:42 PM
2017 is going by fast.  In about three weeks I get my next dividend payout.  I've been keeping a close eye on these quarterly payouts to see how much I can amass and eventually use as a paycheck when I RE.  It's been a steady climb upwards; 2016 was my most ever at $11K USD.  For the next two years I will reinvest the dividends (and long-term capital gains), but eventually I will stop reinvesting and use the returns as income.
Title: Re: 2019 fire cohort
Post by: TartanTallulah on June 02, 2017, 01:50:40 PM

And made me think, "How little could we live on? How much more than that do we want enough to work and save for it now? How quickly can we have that much without me doing my current job? What strategies are available to us?"


For our FIRE plans, we haven't really asked the question: how little could we live on. Although I asked it a little bit, we have counted on using in FIRE as much as we are using today. My DH says we need to calculate that we might want to travel more, so we shouldn't budget too tightly. But we will need to watch that we don't develop expensive habits after FIRE that make us use more money than we do today.

That's definitely a consideration for us too. I like knowing that if work threatened to break me I could give notice or drop my hours and we wouldn't have to starve or freeze, hence the minimum figure. But I also know that although some of our expenses will go down on retirement, others may rise because we'll have time to travel, and won't be too tired to go out to concerts or social events at night or do competitive sporting events, and will go on more of the sort of bike rides that include stopping for a mid-ride meal in a restaurant fifty miles from home. And when the young adults leave home we'll have smaller household bills because they tear through electricity, water and food at an unbelievable rate, but we'll be visiting them and helping them financially for the first few years.

If I continue my current work commitment till 55, and my husband continues to work for at least as long as I do, and we save with enthusiasm and allocate our savings according to our future needs (I have a plan for how I would like to use each pot, with dates and numbers) we will be quite comfortable. Not affluent, but we've never been affluent-living sort of people. Just comfortable.



Title: Re: 2019 fire cohort
Post by: Day Before Kindergarten on June 06, 2017, 03:03:57 PM
I have been a longtime MMM reader. Got here through Jacob (ERE). Have not been engaged with the forums. But have started, and wanted to toss my name into the 2019 crowd.

I am 52. Turn 55 years in 2019 in November which means I am eligible to pull monies out of my 401k if I separate from service from my company. That means, Jan 1, 2019 I can end mandatory work.  Perhaps earlier, depending upon my youngest urchin's ability to get a scholarship.

There are extenuating circumstances as to when I will exactly stop work. I am my own company and can work 2-20 days per month at my discretion. I have cut back to 160 days of work per year for the next 12 months, and may step down further before fully stopping in 2019.

All of the FI bloggers have influenced me regarding frugality, conscious spending, optimizing tax strategies, and lifestyle choices. It has also impacted how I have addressed these issues with my kids.

I have grown my stache through savings, individual stock investing, and recently, moved much of my focus into real estate.

More than anything, I have been a strong evangelical for financial freedom and have been very proud to have influenced numerous other friends and family members to learn about FI and initiating their own path to financial freedom.

Title: Re: 2019 fire cohort
Post by: MoMan on June 06, 2017, 05:58:43 PM
Awesome DBK-- Welcome to the party!

Looks like I am one month older than you. I'm sticking around thru my 55th B-day so I can grab the company health care plan. Otherwise I'd be out January 2nd.

--M
Title: Re: 2019 fire cohort
Post by: TartanTallulah on June 11, 2017, 03:47:53 PM
I've been exercising my old brain today. I'm in a defined benefits pension scheme (one of the few that remain) through my employer, and the terms of the scheme have been changed recently. My current terms have a retirement age of 60, and I can take a reduced pension from 50. In March 2018, when I'm 54, I get switched from the "old" version to the "new" version. If I retire soon after I turn 55 as I'm planning to do, this will mean that I'll have only one year, or, if I continue to work an extra few months, two years, on the new scheme, resulting in a small amount of pension that I won't be able to touch without penalty till I'm 67, or even later if my state retirement pension age rises again. I've been doing the sums and weighing up the pros and cons of opting out of the scheme from March 2018 (I could rejoin later if I decided to continue working) and putting the money that won't be going into my occupational pension into my private pension that I can access from 55.

I've concluded that although it means having an additional FI jam jar (more like an egg cup, for the actual sum involved will be tiny), which feels untidier than putting more pennies into an existing jam jar, if I'm going to live to 120 it's in my best interest not to opt out. I'm relieved that I've come to a decision and can go back to not thinking about my occupational pension.

My next step is to persuade my husband to find out the value of the occupational pension he had for a few years before and just after we met. It won't be much, but it won't be zero, and I'm keen to have as many numbers as possible to work with. I do love a good logistical problem, and I'm enjoying the process of projecting which sources of funding we'll draw on at the different stages of retirement.

Title: Re: 2019 fire cohort
Post by: wannabe-stache on June 11, 2017, 07:12:32 PM
I was in the 2020 FIRE cohort but I'll lurk here as I might be FIREing early.  As a couple,  our net worth is now $1.5M and my husband has realized that he only needs to work 40 hours per month to cover our expenses.  He doesn't want to retire but is starting to acknowledge that it's getting more difficult to keep up his customary 35 hours/week 'table time' (he's a massage therapist).  I, on the other hand, am ready to 'run for the hills' right now.

I did a cFIREsim calculation last week, and the probability of success starts to dip slightly below 100% once our annual expenses reach $70K/yr.  Since our actual expenses are around $55K right now, with an oversize expensive house, that was very encouraging. My biggest concern is the bridging financing to get us from where we are now (I'm 49, he's 56) to when our pensions kick in (federal and very small government pension for me). 

It's still seems unreal that FIRE is on the horizon.  I don't have any real life role models so finding the MMM community has been inspiring and reassuring.

I want to say thanks to you and everyone else on this thread.  My wife and I are lucky enough too  be in a position to continue to save and i think, with a few smart changes, we can really super charge our savings.
Title: Re: 2019 fire cohort
Post by: TartanTallulah on June 12, 2017, 09:14:03 AM
I did a cFIREsim calculation last week, and the probability of success starts to dip slightly below 100% once our annual expenses reach $70K/yr.  Since our actual expenses are around $55K right now, with an oversize expensive house, that was very encouraging. My biggest concern is the bridging financing to get us from where we are now (I'm 49, he's 56) to when our pensions kick in (federal and very small government pension for me). 

It's still seems unreal that FIRE is on the horizon.  I don't have any real life role models so finding the MMM community has been inspiring and reassuring.

The bridging financing (in my case, from 55 until I take my occupational pension at 60, and then making up the difference until I can claim my state pension at 67) is the bit I'm finding most challenging too. Finding the best sequence to get the right amount of income each year while minimising the total amount lost to taxation is a satisfying mathematical puzzle, and one I can influence even this late on by the investment choices I make. I'm tempted to put up a case study because I think I'll come up with the definitive "right" answer but there are some fearsome financial brains on this website and I'm open to different solutions.
Title: Re: 2019 fire cohort
Post by: markbike528CBX on June 12, 2017, 10:09:35 AM
...... My biggest concern is the bridging financing to get us from where we are now (I'm 49, he's 56) to when our pensions kick in (federal and very small government pension for me). 

.........  I don't have any real life role models so finding the MMM community has been inspiring and reassuring.


The bridging financing (in my case, from 55 until I take my occupational pension at 60, and then making up the difference until I can claim my state pension at 67) is the bit I'm finding most challenging too. Finding the best sequence to get the right amount of income each year while minimising the total amount lost to taxation is a satisfying mathematical puzzle, and one I can influence even this late on by the investment choices I make. I'm tempted to put up a case study because I think I'll come up with the definitive "right" answer but there are some fearsome financial brains on this website and I'm open to different solutions.

I'm sure you have seen this , but I got a lot of confidence in the 72(t) SEPP as a way to fill my taxable-but-deductible space and minimize my taxable withddrawals.   Note that at <$75K  dividends and capital gains are taxed but at 0%.  There is a big sticky thread on that on the TAXES subforum.
   
https://forum.mrmoneymustache.com/investor-alley/how-to-withdraw-funds-from-your-ira-and-401k-without-penalty-before-age-59-5/

Tl:Dr   ---  if you've "over filled" your IRA etc, you can take it out early at the same (retirement) tax rate that you would if you were over 59.5.

+1 "I don't have any real life role models so finding the MMM community has been inspiring and reassuring"   Me too!
Title: Re: 2019 fire cohort
Post by: cerat0n1a on June 12, 2017, 11:52:20 AM
The bridging financing (in my case, from 55 until I take my occupational pension at 60, and then making up the difference until I can claim my state pension at 67) is the bit I'm finding most challenging too. Finding the best sequence to get the right amount of income each year while minimising the total amount lost to taxation is a satisfying mathematical puzzle, and one I can influence even this late on by the investment choices I make. I'm tempted to put up a case study because I think I'll come up with the definitive "right" answer but there are some fearsome financial brains on this website and I'm open to different solutions.

I'm assuming that this in the UK and so talk of IRAs and 401ks is not going to help?

If so, presumably a SIPP is your best bet? You can access it at 55 (plans to up that to 57, but it hasn't happened yet and even if the plan goes ahead, it won't affect you.) Whatever contribution you make gets grossed up by the government. So if you're a nil rate or 20% income tax payer and you contribute £1000, your pension is credited with £1250. If you're a higher rate tax payer, your pension still ends up with £1250, but you reclaim the rest on your tax return. You can take a 25% lump sum at 55, free of tax and then withdraw the rest between 55 & 60 - although that would potentially involve paying income tax.
Title: Re: 2019 fire cohort
Post by: TartanTallulah on June 12, 2017, 03:35:11 PM
The bridging financing (in my case, from 55 until I take my occupational pension at 60, and then making up the difference until I can claim my state pension at 67) is the bit I'm finding most challenging too. Finding the best sequence to get the right amount of income each year while minimising the total amount lost to taxation is a satisfying mathematical puzzle, and one I can influence even this late on by the investment choices I make. I'm tempted to put up a case study because I think I'll come up with the definitive "right" answer but there are some fearsome financial brains on this website and I'm open to different solutions.

I'm assuming that this in the UK and so talk of IRAs and 401ks is not going to help?

If so, presumably a SIPP is your best bet? You can access it at 55 (plans to up that to 57, but it hasn't happened yet and even if the plan goes ahead, it won't affect you.) Whatever contribution you make gets grossed up by the government. So if you're a nil rate or 20% income tax payer and you contribute £1000, your pension is credited with £1250. If you're a higher rate tax payer, your pension still ends up with £1250, but you reclaim the rest on your tax return. You can take a 25% lump sum at 55, free of tax and then withdraw the rest between 55 & 60 - although that would potentially involve paying income tax.

Yes, I believe a SIPP is a very good choice in my situation. I do have a SIPP (started back in prehistoric times as a Stakeholder Pension and left to grow in the dark for around a decade before I could afford to start contributing again), and it forms a major part of my bridging plan and would be where I'd put any income I wasn't contributing to the occupational scheme if I pulled out so that I'd have the flexibility to draw on it from 55. I expect to pay some tax in retirement, and the interesting part will be getting the balance of pension drawdown, cash, and income from ISA investments and other sources about right each year as well as over the full period.

I've also opened a SIPP for my spouse, who doesn't take much interest in financial matters and doesn't earn enough to pay income tax, because the tax treatment is advantageous for non-taxpayers and because it will also be advantageous for us after retirement for him to hold some of our assets since we have separate annual and lifetime allowances and tax liabilities. And because I think giving him a sense of ownership of our financial planning is worthwhile in its own right.

I have a cash ISA that's been mouldering away at a low interest rate for years. This is in addition to having the oft-recommended three months' salary to hand in case the sky falls in. I intend to transfer this to a low-risk fund within a stocks and shares ISA now, because I don't need to be sitting on a wodge of dormant cash. Unless my SIPP suffers a huge drop in value I'll be able to take a tax free lump sum of almost the same amount two years hence. It's something I should have had the courage to do ages ago, but I don't think it's too late.

(I should add that these are all small numbers in comparison to many of the net worth figures I see being thrown around on the forum.)
Title: Re: 2019 fire cohort
Post by: cerat0n1a on June 13, 2017, 02:42:15 AM
I've also opened a SIPP for my spouse, who doesn't take much interest in financial matters and doesn't earn enough to pay income tax, because the tax treatment is advantageous for non-taxpayers

This is a good idea - it's free money and I am surprised the government wrote the rules this way. I really ought to get round to doing the same.

On the three months salary in cash thing, I think for the UK, this really depends on the size of your salary. Here, we are never going to have an unexpected medical bill, or be sued by someone, and losing a job will mostly be accompanied by a redundancy payoff. So an emergency fund in my mind needs to be enough to take care of replacing an appliance that breaks, or dealing with gaps between jobs, or a car accident or things like that.

Going back on topic for this thread, my current plan is to hand in my notice at work in April 2019, but there's a good chance that I will bring things forward to summer 2018. Financially, I feel confident I could RE now, but my job is reasonably pleasant most of the time and waiting for our nest to empty feels like the right thing to do.
Title: Re: 2019 fire cohort
Post by: TartanTallulah on June 13, 2017, 06:08:42 AM

There is a big sticky thread on that on the TAXES subforum.
   
https://forum.mrmoneymustache.com/investor-alley/how-to-withdraw-funds-from-your-ira-and-401k-without-penalty-before-age-59-5/

Tl:Dr   ---  if you've "over filled" your IRA etc, you can take it out early at the same (retirement) tax rate that you would if you were over 59.5.

The existence of the Taxes subforum hadn't even registered with me. Thanks for highlighting it. I'm in the UK so the numbers and terminology are different, but a lot of the basic principles are similar.
Title: Re: 2019 fire cohort
Post by: markbike528CBX on June 13, 2017, 08:12:00 AM
TartanTallulah, sorry I didn't pick up your location.    "middle of scenic nowhere" could be anywhere :-)

I'm sure someone in the UK has thought about this topic and posted on this forum
Title: Re: 2019 fire cohort
Post by: powersuitrecall on June 14, 2017, 08:11:02 AM
I'm in a kinda funny situation at work.  A while ago I applied for a promotion pool and have been going through the process (Resume --> Exam --> Interview).  It's all competency based and very procedural. i.e. long and painful.  Given that I'm 2 years away from RE, being promoted at this point wouldn't hasten my departure by much. On paper I'll get there a couple of weeks ahead, a month at most.

I've had many inner conversations between career-man: "You need this! It's important!" and RE-man: "Why are you going through this terrible process!  RE is in the bag! Work sucks! Let someone else have this! You don't need more money!".

At this point career-man seems to be winning.  I want it.  Maybe it's desire for external validation, or wanting to achieve something in my last 2 years.  Regardless, I know it's not for the money, and that is a nice feeling.
Title: Re: 2019 fire cohort
Post by: Linea_Norway on June 14, 2017, 12:43:31 PM
I'm in a kinda funny situation at work.  A while ago I applied for a promotion pool and have been going through the process (Resume --> Exam --> Interview).  It's all competency based and very procedural. i.e. long and painful.  Given that I'm 2 years away from RE, being promoted at this point wouldn't hasten my departure by much. On paper I'll get there a couple of weeks ahead, a month at most.

I've had many inner conversations between career-man: "You need this! It's important!" and RE-man: "Why are you going through this terrible process!  RE is in the bag! Work sucks! Let someone else have this! You don't need more money!".

At this point career-man seems to be winning.  I want it.  Maybe it's desire for external validation, or wanting to achieve something in my last 2 years.  Regardless, I know it's not for the money, and that is a nice feeling.

I understand it. It's a way of feeling appreciated when you get promoted. And something for you to achieve.
Title: Re: 2019 fire cohort
Post by: TartanTallulah on June 14, 2017, 03:15:26 PM
I'm in a kinda funny situation at work.  A while ago I applied for a promotion pool and have been going through the process (Resume --> Exam --> Interview).  It's all competency based and very procedural. i.e. long and painful.  Given that I'm 2 years away from RE, being promoted at this point wouldn't hasten my departure by much. On paper I'll get there a couple of weeks ahead, a month at most.

I've had many inner conversations between career-man: "You need this! It's important!" and RE-man: "Why are you going through this terrible process!  RE is in the bag! Work sucks! Let someone else have this! You don't need more money!".

At this point career-man seems to be winning.  I want it.  Maybe it's desire for external validation, or wanting to achieve something in my last 2 years.  Regardless, I know it's not for the money, and that is a nice feeling.

How very liberating, to be able to choose to jump through hoops to win promotion at work instead of feeling as if you need to because of the money or the career progression. When all is said and done, you'll only get it if you are the best person.

Title: Re: 2019 fire cohort
Post by: Miss Piggy on June 14, 2017, 03:47:27 PM
I'm in a kinda funny situation at work.  A while ago I applied for a promotion pool and have been going through the process (Resume --> Exam --> Interview).  It's all competency based and very procedural. i.e. long and painful.  Given that I'm 2 years away from RE, being promoted at this point wouldn't hasten my departure by much. On paper I'll get there a couple of weeks ahead, a month at most.

I've had many inner conversations between career-man: "You need this! It's important!" and RE-man: "Why are you going through this terrible process!  RE is in the bag! Work sucks! Let someone else have this! You don't need more money!".

At this point career-man seems to be winning.  I want it.  Maybe it's desire for external validation, or wanting to achieve something in my last 2 years.  Regardless, I know it's not for the money, and that is a nice feeling.

How very liberating, to be able to choose to jump through hoops to win promotion at work instead of feeling as if you need to because of the money or the career progression. When all is said and done, you'll only get it if you are the best person.

I can kinda relate. On a whim, I recently applied for a job and was interviewed. Very liberating to not care whether I get an offer.
Title: Re: 2019 fire cohort
Post by: powersuitrecall on June 14, 2017, 06:11:38 PM
Maybe this is what post-RE work will feel like, but a level up.  As in, we will only do things resembling work if something substantial but non-monetary can be gained from it ... i.e. fun!
Title: Re: 2019 fire cohort
Post by: TartanTallulah on June 15, 2017, 08:24:50 AM
Maybe this is what post-RE work will feel like, but a level up.  As in, we will only do things resembling work if something substantial but non-monetary can be gained from it ... i.e. fun!

Hanging out in this internet space has given me more understanding of what's going on with a former colleague of mine. A few years ago he was working so slowly he was almost going backwards, my other colleagues were very frustrated with him (I was less so, as I was quite new to the firm and didn't have the same history with him that they had), he had a close call with his health, and then the accountant told him that he had reached the lifetime limit on his pension fund. He decided to take his pension. "He's ready to retire," we said, and took the opportunity to insist that he cut his ties with the firm completely rather than dangling around in a part time capacity taking money for doing nothing.

If he'd put half as much enthusiasm into his job here as he's now putting into developing other business interests in another, more lucrative and high profile, branch of the same line of work, we'd have fought to get him to stay.

For a while, I couldn't get my head round it. He's got more than enough money for anyone to live well on, why work so hard? He does have a high-cost, keeping-up-appearances lifestyle. Is he living beyond his means? Maybe he is, but he doesn't have the stressed appearance of someone who's underwater financially, he seems to find genuine joy in working about 200 hours a week. And I think that's it. He doesn't need to earn a living and he's driven by other things - personal satisfaction, his new colleagues, the prospect of public recognition.

And maybe a bit of, "I'll show them, I'll succeed and throw it in their faces," aimed at us.
Title: Re: 2019 fire cohort
Post by: cerat0n1a on June 15, 2017, 09:22:18 AM
I've taken the opposite approach - took a less senior role at the start of the year, in preparation for ending my days of sitting in an office. Haven't mentioned my plans to retire and nobody would expect someone my age to do so, but fortunately it's not unheard of round here for people to decide that they want to trade less responsibility for less pay.
Title: Re: 2019 fire cohort
Post by: Vegasgirl on June 15, 2017, 09:23:42 AM
I'd like to put my name into this group.  I was going back and forth between April 1, 2020 and Sept 1, 2019.  I think Sept 1, 2019 has won in my mind so I'll commit to that. 
Title: Re: 2019 fire cohort
Post by: Linea_Norway on June 15, 2017, 09:25:27 AM
Maybe this is what post-RE work will feel like, but a level up.  As in, we will only do things resembling work if something substantial but non-monetary can be gained from it ... i.e. fun!

Hanging out in this internet space has given me more understanding of what's going on with a former colleague of mine. A few years ago he was working so slowly he was almost going backwards, my other colleagues were very frustrated with him (I was less so, as I was quite new to the firm and didn't have the same history with him that they had), he had a close call with his health, and then the accountant told him that he had reached the lifetime limit on his pension fund. He decided to take his pension. "He's ready to retire," we said, and took the opportunity to insist that he cut his ties with the firm completely rather than dangling around in a part time capacity taking money for doing nothing.

If he'd put half as much enthusiasm into his job here as he's now putting into developing other business interests in another, more lucrative and high profile, branch of the same line of work, we'd have fought to get him to stay.

For a while, I couldn't get my head round it. He's got more than enough money for anyone to live well on, why work so hard? He does have a high-cost, keeping-up-appearances lifestyle. Is he living beyond his means? Maybe he is, but he doesn't have the stressed appearance of someone who's underwater financially, he seems to find genuine joy in working about 200 hours a week. And I think that's it. He doesn't need to earn a living and he's driven by other things - personal satisfaction, his new colleagues, the prospect of public recognition.

And maybe a bit of, "I'll show them, I'll succeed and throw it in their faces," aimed at us.

Or... this guy used his working hours at your employer on (preparing) his side-gig.
Title: Re: 2019 fire cohort
Post by: VoteCthulu on June 15, 2017, 11:06:43 AM
I'd like to put my name into this group.  I was going back and forth between April 1, 2020 and Sept 1, 2019.  I think Sept 1, 2019 has won in my mind so I'll commit to that.
Welcome to the club! Was the earlier choice because of hitting your number faster than expected? I know I'm ahead of expectations this year.
Title: Re: 2019 fire cohort
Post by: Vegasgirl on June 15, 2017, 12:23:22 PM
The earlier choice is when I will meet both my goals of money in deferred comp and 30 years of service.  I was considering April 1, 2020 because it would allow me to put one more "years worth" of cash into deferred comp - just accelerated during the first three months of the year.  But really I don't need to.  I don't plan on touching it for 10-12 years anyway and work is really frustrating me.
Title: Re: 2019 fire cohort
Post by: TartanTallulah on June 15, 2017, 02:40:22 PM
Maybe this is what post-RE work will feel like, but a level up.  As in, we will only do things resembling work if something substantial but non-monetary can be gained from it ... i.e. fun!

Hanging out in this internet space has given me more understanding of what's going on with a former colleague of mine. A few years ago he was working so slowly he was almost going backwards, my other colleagues were very frustrated with him (I was less so, as I was quite new to the firm and didn't have the same history with him that they had), he had a close call with his health, and then the accountant told him that he had reached the lifetime limit on his pension fund. He decided to take his pension. "He's ready to retire," we said, and took the opportunity to insist that he cut his ties with the firm completely rather than dangling around in a part time capacity taking money for doing nothing.

If he'd put half as much enthusiasm into his job here as he's now putting into developing other business interests in another, more lucrative and high profile, branch of the same line of work, we'd have fought to get him to stay.

For a while, I couldn't get my head round it. He's got more than enough money for anyone to live well on, why work so hard? He does have a high-cost, keeping-up-appearances lifestyle. Is he living beyond his means? Maybe he is, but he doesn't have the stressed appearance of someone who's underwater financially, he seems to find genuine joy in working about 200 hours a week. And I think that's it. He doesn't need to earn a living and he's driven by other things - personal satisfaction, his new colleagues, the prospect of public recognition.

And maybe a bit of, "I'll show them, I'll succeed and throw it in their faces," aimed at us.

Or... this guy used his working hours at your employer on (preparing) his side-gig.

It's quite possible that he was spending time setting up his side-gig behind closed doors in his office and that was part of the reason for his inefficiency. He already had another side-gig at the time.

He got his spark back and we got a new colleague who pulled their weight. Everyone came out on top.
Title: Re: 2019 fire cohort
Post by: Eric on June 15, 2017, 02:40:56 PM
The earlier choice is when I will meet both my goals of money in deferred comp and 30 years of service.  I was considering April 1, 2020 because it would allow me to put one more "years worth" of cash into deferred comp - just accelerated during the first three months of the year.  But really I don't need to.  I don't plan on touching it for 10-12 years anyway and work is really frustrating me.

Good choice!  You can't retire on April 1, 2020.  No one would believe you.
Title: Re: 2019 fire cohort
Post by: markbike528CBX on June 15, 2017, 04:40:20 PM
Good choice!  You can't retire on April 1, 2020.  No one would believe you.

If the company's fiscal year starts on April 1 (mine does), then one might consider it.

In most peoples eyes, "fiscal year start" and FIRE are both fantasies. 
I've seen about a month after the "fiscal year start" go by before charge codes are known/distributed.
Title: Re: 2019 fire cohort
Post by: TartanTallulah on June 15, 2017, 11:29:57 PM
I'd like to put my name into this group.  I was going back and forth between April 1, 2020 and Sept 1, 2019.  I think Sept 1, 2019 has won in my mind so I'll commit to that.

Welcome! From the thread you started a few days ago it looks as if your journey might be interesting and I hope you find the support and encouragement you might need on here.
Title: Re: 2019 fire cohort
Post by: Vegasgirl on June 24, 2017, 11:11:36 AM
So just a little update - DH is coming around slowly but surely little bits at a time.   Goal now is RE for me @ 50 in 2019.  FI when DH is eligible to retire by my estimates @ 50 2024/25. 

Currently I'm 48 DH is 43.

I realize in this group age 50 is not necessarily early retirement but I think by today's "normal" standards it is so I'm sticking with it as "early" retirement.   From what I can project by the time DH is 50 it will be solely his choice of whether or not to retire, but my decision is made, I'm out in 2019 !!!
Title: Re: 2019 fire cohort
Post by: Cornbread OMalley on June 24, 2017, 03:31:05 PM
I realize in this group age 50 is not necessarily early retirement...
I learned that early retirement is any retirement before the traditional retirement at age of 65.  I think you're doing just fine.
Title: Re: 2019 fire cohort
Post by: itchyfeet on June 24, 2017, 11:34:18 PM
Retirement at 50 is 20 years early!
Title: Re: 2019 fire cohort
Post by: VoteCthulu on June 25, 2017, 12:05:18 AM
I don't know about 70 being the normal retirement age, but certainly anytime before you qualify for social security (or whatever your country provides) should be considered early.

Thankfully it's not a competition, or we'd all be losing to those ERE folk retiring in their early 20s!
Title: Re: 2019 fire cohort
Post by: itchyfeet on June 25, 2017, 03:36:52 AM
I am 45 and while I hope to FIRE in the next 2 years I fully expect a significant portion of my peers to be retiring at 70.
Title: Re: 2019 fire cohort
Post by: Trifele on June 25, 2017, 07:21:48 AM
I'll be 52 in 2019 when I FIRE, and I am choosing to think of myself as young. :)

Update:  Although I am still on track for 8/1/19, they have started some layoffs at work, and I may end up being a "WIGLO", i.e. FIRE "when I get laid off."  :)
Title: Re: 2019 fire cohort
Post by: PhilB on June 25, 2017, 09:13:47 AM
Yes, I believe a SIPP is a very good choice in my situation. I do have a SIPP (started back in prehistoric times as a Stakeholder Pension and left to grow in the dark for around a decade before I could afford to start contributing again), and it forms a major part of my bridging plan and would be where I'd put any income I wasn't contributing to the occupational scheme if I pulled out so that I'd have the flexibility to draw on it from 55. I expect to pay some tax in retirement, and the interesting part will be getting the balance of pension drawdown, cash, and income from ISA investments and other sources about right each year as well as over the full period.

I've also opened a SIPP for my spouse, who doesn't take much interest in financial matters and doesn't earn enough to pay income tax, because the tax treatment is advantageous for non-taxpayers and because it will also be advantageous for us after retirement for him to hold some of our assets since we have separate annual and lifetime allowances and tax liabilities. And because I think giving him a sense of ownership of our financial planning is worthwhile in its own right.

I have a cash ISA that's been mouldering away at a low interest rate for years. This is in addition to having the oft-recommended three months' salary to hand in case the sky falls in. I intend to transfer this to a low-risk fund within a stocks and shares ISA now, because I don't need to be sitting on a wodge of dormant cash. Unless my SIPP suffers a huge drop in value I'll be able to take a tax free lump sum of almost the same amount two years hence. It's something I should have had the courage to do ages ago, but I don't think it's too late.

(I should add that these are all small numbers in comparison to many of the net worth figures I see being thrown around on the forum.)
Depending on where you stand with the Lifetime Allowance I'd be sticking everything possible into the SIPP / PP at this stage.  My OH works part time and we put 100% of her salary into a PP, getting more tax relief than she actually pays.  What I wouldn't be doing in your shoes though is shifting that cash ISA into a S&S ISA.  I'm presuming that your SIPP is in some mix of bond and equity funds and so that 'cash' you are getting in 2 years' time will really be from selling S&S and therefore vulnerable to a market correction.  With both bonds and equities at historically high valuations I would see much more downside than upside in investing now the money that you will effectively be using to live on in only 2 years.  Better to keep it in cash (inside a SIPP if you have the AA/ LTA /Earnings) and plan to reinvest the TFLS from the pension to S&S ISAs.
And I couldn't agree more about the bridging period being the difficult bit!
Title: Re: 2019 fire cohort
Post by: zinnie on June 25, 2017, 09:36:11 AM
Happy summer, 2019 cohort! Checking in. I seem to be pretty solidly in Jan 2019 at this point.

I've been front-loading my 401k, which is an interesting experiment. Our take-home pay now is basically what we would have for spending in a FIRE model, and it feels...weird. I'm not used to having to plan out when to pay the CC bill, and when to pay the mortgage. We just had a $2000 sewage line leaking incident, and had to transfer cash to cover it. Even though we've been living on our FIRE income number annually, it feels uncomfortable to be so limited each month. Will have to think about how to manage this post-FIRE--pull out a few months of expenses at once? Homework is to look into how others do this.

I realized last week that if I sold my house now, I'd be done. Housing prices are insane here right now. We have 357k equity and I am only 267k from my number. So, I'd have my number plus enough for a nice downpayment somewhere else [that is lower COL]. Or, my mortgage plus insurance/taxes are $1500/month, and I could find a rental at that price. So what is the 357k getting me? I like my house and where I live, but I'm really questioning how much it is worth to me. We have lived here for seven years and haven't made any major repairs yet, so the house hasn't cost us much beyond the mortgage and taxes, but the list of needed updates is starting to catch up.
Title: Re: 2019 fire cohort
Post by: powersuitrecall on June 25, 2017, 11:33:41 AM
I am 45 and while I hope to FIRE in the next 2 years I fully expect a significant portion of my peers to be retiring at 70.

Ditto (45), but since I'm in the gov't most people are chained to their desks until 60 or 65.  Most co-workers merrily spend their paycheques knowing that they will have a juicy pension to fall into.  I was a late arrival in the gov't world.  If I were to hold out for a full pension, I'd have to work till 72.
Title: Re: 2019 fire cohort
Post by: TartanTallulah on June 25, 2017, 04:29:59 PM
Yes, I believe a SIPP is a very good choice in my situation. I do have a SIPP (started back in prehistoric times as a Stakeholder Pension and left to grow in the dark for around a decade before I could afford to start contributing again), and it forms a major part of my bridging plan and would be where I'd put any income I wasn't contributing to the occupational scheme if I pulled out so that I'd have the flexibility to draw on it from 55. I expect to pay some tax in retirement, and the interesting part will be getting the balance of pension drawdown, cash, and income from ISA investments and other sources about right each year as well as over the full period.

I've also opened a SIPP for my spouse, who doesn't take much interest in financial matters and doesn't earn enough to pay income tax, because the tax treatment is advantageous for non-taxpayers and because it will also be advantageous for us after retirement for him to hold some of our assets since we have separate annual and lifetime allowances and tax liabilities. And because I think giving him a sense of ownership of our financial planning is worthwhile in its own right.

I have a cash ISA that's been mouldering away at a low interest rate for years. This is in addition to having the oft-recommended three months' salary to hand in case the sky falls in. I intend to transfer this to a low-risk fund within a stocks and shares ISA now, because I don't need to be sitting on a wodge of dormant cash. Unless my SIPP suffers a huge drop in value I'll be able to take a tax free lump sum of almost the same amount two years hence. It's something I should have had the courage to do ages ago, but I don't think it's too late.

(I should add that these are all small numbers in comparison to many of the net worth figures I see being thrown around on the forum.)
Depending on where you stand with the Lifetime Allowance I'd be sticking everything possible into the SIPP / PP at this stage.  My OH works part time and we put 100% of her salary into a PP, getting more tax relief than she actually pays.  What I wouldn't be doing in your shoes though is shifting that cash ISA into a S&S ISA.  I'm presuming that your SIPP is in some mix of bond and equity funds and so that 'cash' you are getting in 2 years' time will really be from selling S&S and therefore vulnerable to a market correction.  With both bonds and equities at historically high valuations I would see much more downside than upside in investing now the money that you will effectively be using to live on in only 2 years.  Better to keep it in cash (inside a SIPP if you have the AA/ LTA /Earnings) and plan to reinvest the TFLS from the pension to S&S ISAs.
And I couldn't agree more about the bridging period being the difficult bit!

Yes, I'm still sitting on that cash ISA - it doesn't feature in my calculations at all (this may be because I spent several years pretending that it didn't exist) and would only form part of my short term plans if something happened that meant I had to stop working at very short notice, but I've dithered back and forth between "it could be ten years or more before I need to touch it" and "it's been sitting there for years earning hardly any interest, and it would be stupid to transfer it to equities less than two years before I want to be able to retire irrespective of what condition the market appears to be in".

Having discovered only very recently that we can put my husband's entire income into a SIPP even though he doesn't earn enough to pay tax, I'm on to that. I'm likely to be flirting with the annual allowance this year due to my income having jumped (the silver lining to an unwelcome increase in workload) and am wary of contributing to my own SIPP.
Title: Re: 2019 fire cohort
Post by: Linea_Norway on June 28, 2017, 08:48:07 AM
Great doubt has entered my brain... I think I might have to find myself another FIRE cohort.

When running the numbers in my spreadsheet, I still think we would in theory make it (part time FIRE) and start working 50% in 2019, but it does require downsizing immediately and selling our mountain cabin. Just to gather enough cash to be able to start using the 4% rule. As long as the money is invested in property, that is not a particular price rising area, it won't generate any money. When talking to my DH about this, I don't think he is willing to do this yet. He would like to keep the cabin for years, even though it has a substantial cost per year. And as long as he would work part time at his current company we need to keep living in a HCOL area on commuting distance from the main city, in the vicinity of a train station. On the other hand, when working 50%, would we not need to start using the 4% and a part of the stash.

One other thing, is that I am not sure I would want to work 50% for another couple of years. I would rather just quite completely. And I don't think my DH would really appreciate being the only one earning money in our household. I cannot be a SAHM, as we don't have kids. That would have been a more legitimate situation.

Ideally we should have 1 million NOK (100K USD) more before FIRE. That is more than a years savings.
I am also from time to time freaking out on pension money. Our stately pension fund has not yet defined how the rules are for people of my age. So I cannot get an answer from them of how much I will receive from the age of 67. I only know what I will get from the general government (not special pension fund).

All in all, I doubt whether we are going to do something in 2019 at all. But I'll make sure to run the numbers again in December 2019.
Title: Re: 2019 fire cohort
Post by: Roboturner on June 28, 2017, 08:55:55 AM
Just to gather enough cash to be able to start using the 4% rule.

Keep in mind that the 4% rule assumes 1% fees so its more like the 5% rule (or 4.9% if you keep your expense ratios in the 0.1% or less range on average) - so you have a little built in buffer
Title: Re: 2019 fire cohort
Post by: itchyfeet on June 28, 2017, 09:08:02 AM
Great doubt has entered my brain... I think I might have to find myself another FIRE cohort.

When running the numbers in my spreadsheet, I still think we would in theory make it (part time FIRE) and start working 50% in 2019, but it does require downsizing immediately and selling our mountain cabin. Just to gather enough cash to be able to start using the 4% rule. As long as the money is invested in property, that is not a particular price rising area, it won't generate any money. When talking to my DH about this, I don't think he is willing to do this yet. He would like to keep the cabin for years, even though it has a substantial cost per year. And as long as he would work part time at his current company we need to keep living in a HCOL area on commuting distance from the main city, in the vicinity of a train station. On the other hand, when working 50%, would we not need to start using the 4% and a part of the stash.

One other thing, is that I am not sure I would want to work 50% for another couple of years. I would rather just quite completely. And I don't think my DH would really appreciate being the only one earning money in our household. I cannot be a SAHM, as we don't have kids. That would have been a more legitimate situation.

Ideally we should have 1 million NOK (100K USD) more before FIRE. That is more than a years savings.
I am also from time to time freaking out on pension money. Our stately pension fund has not yet defined how the rules are for people of my age. So I cannot get an answer from them of how much I will receive from the age of 67. I only know what I will get from the general government (not special pension fund).

All in all, I doubt whether we are going to do something in 2019 at all. But I'll make sure to run the numbers again in December 2019.

If you are anything like me you will change your mind 5 more times in the next 2 years.

Regarding the cabin, there may not be a need to sell immediately. If you can assume it's value goes up with inflation, you can sell it later and benefit then. Sure you are not getting 5-7% above inflation in the next few years, but maybe you don't need that. Maybe assume that for the cabin you only get 2.5%- 3% SWR, as opposed to 4% or more on the rest of your portfolio.

I completely relate to the guilt you say you would feel sending your
Partner to work while staying home. I am faced with the same dillema.
Title: Re: 2019 fire cohort
Post by: 2Birds1Stone on June 28, 2017, 09:28:19 AM

Most Righteous Alias Age at
FIRE
Target
Date
Date Confirmed


zinnie35Feb-19
MissNancyPryor50Mar-19
Roboturner30Mar-19
TartanTallulah55Mar-19
Luck1241Apr-19
albireo1361May-1-19
Livingthedream5559May-19
cerat0n1aMay-19
dude54May-19
SamIAm3829May-19
oldtoyotaJun-19
Itchyfeet47Jun-19
PhilB53Jun-19
Bateaux50Jun-19
CryingInThePool44Jun-19
powersuitrecall47Jul-19
Enigma39Jul-19
Thedividebyzero45Jul-19
Trifele52Aug-19
Cornbread OMalley42Aug-19
RetirementDreamingSep-19
VoteCthulu39Oct-19
trix7643Oct-19
MoMan55Oct-19
markbike528CBX55Dec-19
HBFI38Dec-19
luckyme1345Dec-19
ParizadeTBD
madamwitty36TBD
Lowerbills40TBD
Chrissy42TBD
GerardTBD
getoutsoon52TBD
ysette938late-19TBD
elaine amj40TBD
IplawyerTBD
ChairmanTBD-SemiFire
2Birds1StoneTBD

I figured we should update the list at least once per page.  If I missed anyone, add yourself in

Correct myself to "TBD" on date, as I am still sceptical that I will be FI in 2019
Title: Re: 2019 fire cohort
Post by: PhilB on June 28, 2017, 09:34:20 AM
Great doubt has entered my brain... I think I might have to find myself another FIRE cohort.

When running the numbers in my spreadsheet, I still think we would in theory make it (part time FIRE) and start working 50% in 2019, but it does require downsizing immediately and selling our mountain cabin. Just to gather enough cash to be able to start using the 4% rule
Sorry to hear that things are looking tricky.  It's quite difficult to work out the numbers in your position as the 18 to 21 years between your 2019 date and when your state pensions come on line mean that whilst you don't need the full 25x outgoings of someone retiring purely on their stash, you might need something close to it depending on what percentage of those outgoings you expect the pensions to cover.  I have a slightly similar situation (various pensions coming on line between 10 and 14 years post RE date) and pretty well the only way to model it is to spreadsheet out year-by-year and then shuffle your stash between long term income and 'bridging' pots.
Have you talked to your OH about how he would feel about being the only one working PT?  You may be pleasantly surprised.  My OH is definitely retiring completely in 2019, but I may stay on PT for a few years if offered a good enough deal and I'm perfectly happy with that (although I may expect her to do more than 50% of the housework in that situation!).
Is there any way to get income from the cabin such as renting it out?  Alternatively, would an option during the PT years be to keep the cabin, but sell your main house and buy a small flat (with rental potential?) near work, then spend half your time at the cabin having fun and the other half in the flat whilst working.  When DH has had enough of the PT work you could then either self both cabin and flat to buy your retirement property, or maybe keep the flat on for rental income.
Title: Re: 2019 fire cohort
Post by: Linea_Norway on June 28, 2017, 11:13:48 AM
Great doubt has entered my brain... I think I might have to find myself another FIRE cohort.

When running the numbers in my spreadsheet, I still think we would in theory make it (part time FIRE) and start working 50% in 2019, but it does require downsizing immediately and selling our mountain cabin. Just to gather enough cash to be able to start using the 4% rule
Sorry to hear that things are looking tricky.  It's quite difficult to work out the numbers in your position as the 18 to 21 years between your 2019 date and when your state pensions come on line mean that whilst you don't need the full 25x outgoings of someone retiring purely on their stash, you might need something close to it depending on what percentage of those outgoings you expect the pensions to cover.  I have a slightly similar situation (various pensions coming on line between 10 and 14 years post RE date) and pretty well the only way to model it is to spreadsheet out year-by-year and then shuffle your stash between long term income and 'bridging' pots.
Have you talked to your OH about how he would feel about being the only one working PT?  You may be pleasantly surprised.  My OH is definitely retiring completely in 2019, but I may stay on PT for a few years if offered a good enough deal and I'm perfectly happy with that (although I may expect her to do more than 50% of the housework in that situation!).
Is there any way to get income from the cabin such as renting it out?  Alternatively, would an option during the PT years be to keep the cabin, but sell your main house and buy a small flat (with rental potential?) near work, then spend half your time at the cabin having fun and the other half in the flat whilst working.  When DH has had enough of the PT work you could then either self both cabin and flat to buy your retirement property, or maybe keep the flat on for rental income.

I am already counting for a sum much less than 25x yearly spending, as our pension funds will take over from 67. We also plan to eat up our stash, in addition to using the 4%. I will do the numbers again, counting that some of the stash comes in years later.

Yes, I have been thinking about renting out the cabin. Unfortunately it is quite far away, so we cannot drive there before and after every rental. And renting prices in that area are not high enough to let someone else do it. But normally the week before easter and the winter school holiday are popular for cross country skiing. I would like to rent out those two weeks. Maybe that could pay for the whole year, or for a large part. We can start the winter school holiday next winter, and prepare before that and after that.

During dinner, I asked Dh about his opinion on being the sole bread winner. He thinks that as long as we are not FI, I should contribute with earning money. Preferably also 50% of my present income, either by doing a similar job 50% or doing a less stessfull job fulltime. I think my current job would be less stessfull when working part time. After FI he will probably continue to work in periods, but then I can FIRE. But he says he can well work part time from another city. So we could downsize when we start working part time. We just need to keep living near a reasonably large city (for Norwegian standards) and near an airport with some regular traffic.

I think a flat is not really our thing at the moment. But we'll look into it later.
Title: Re: 2019 fire cohort
Post by: CryingInThePool on June 28, 2017, 02:56:55 PM
Anybody starting to feel a little cash crunched now that we are 2 years out?  I've been researching 'glide path' and cd ladders to fund first few years of FIRE and wishing I'd started the CD ladder last year.

I finally sat down and projected out cash needs for Y1 and some expenses (electric bike, lasik, family trips) I was planning to knock off before the pay checks dried up and the total was bracing.   I don't think it will delay my 2019 target but it is forcing me to reallocate more of may savings rate to cash and less to Vanguard.

To that  end https://forum.mrmoneymustache.com/investor-alley/cd-ladder-advice-newbie-questions/ (https://forum.mrmoneymustache.com/investor-alley/cd-ladder-advice-newbie-questions/)  I asked over on the Investor thread but figured I'd repeat here in case I could crowd source some additional strategies from people in the same time frame out.
Title: Re: 2019 fire cohort
Post by: VoteCthulu on June 28, 2017, 03:12:16 PM
I'm not a fan of CDs at today's rates, and I especially question the practice of putting 1/5 of your assets into a 5 year ladder instead of investing them in the market.

If you're over saved and really dislike volitility I suppose it makes sense, but whenever I think about how much money my parents lost just to inflation these last 10 years investing in 1-2% CDs I can't help but feel bad for them.
Title: Re: 2019 fire cohort
Post by: itchyfeet on June 29, 2017, 03:06:13 AM
I'll just stop investing 6 months prior to FIRE and that will give me 6 months spending in cash (we save 50% of income) which is all I plan to hold in cash. We could make that cash last a year if there was a crash.... well that assumes 0 dividends which in unrealistic. The cash would probably give us 2 years without drawing down on our stash I suppose.
Title: Re: 2019 fire cohort
Post by: TartanTallulah on June 29, 2017, 03:57:57 AM
Anybody starting to feel a little cash crunched now that we are 2 years out? 


If anything, I'm skewed too much towards cash for someone who is nearly two whole years (21 paychecks!) out. But unless anything doesn't go according to plan, that's "too much" only in the context of being able to continue building a cash deposit andto take a cash-free lump sum from my SIPP any time from 55. And it's purely the result of being idle and leaving money in a cash ISA that could easily have been transferred to a stocks and shares ISA several years ago. #toobusyearningmoneytomakemoney

Title: Re: 2019 fire cohort
Post by: Cornbread OMalley on June 29, 2017, 08:19:59 AM
I'll just stop investing 6 months prior to FIRE and that will give me 6 months spending in cash (we save 50% of income) which is all I plan to hold in cash. We could make that cash last a year if there was a crash.... well that assumes 0 dividends which in unrealistic. The cash would probably give us 2 years without drawing down on our stash I suppose.
That's a tactic I've thought about and may implement when I get closer to my FIRE date.  Right now I put $400 cash a month into the cash reserves and $4200 a month into my other stuff like taxable accounts, TSP, and Roth.
Title: Re: 2019 fire cohort
Post by: Trifele on June 29, 2017, 09:25:26 AM
+1.  Now that I am two years away I am starting to make changes.  Just last month I ratcheted back on my 403b and 457 contributions to start building the cash and readily-accessible reserves.  I am doing something similar to Cornbread -- a modest amount straight into cash, and then a bigger chunk into the after-tax account.
Title: Re: 2019 fire cohort
Post by: MoMan on June 29, 2017, 11:40:25 AM
Since I will retire at 55, I can access my 401(k) without penalty. BUT they only offer a lump sum payout; you can't take it piecemeal. I also have a tiny pension: Current lump sum value is about $30k (versus annuitizing for $350/mo starting at 65). So my plan is to convert the entire 401(k) along with the lump sum pension into a 10 year income annuity. This should provide me a $30k/yr income until I reach 65. The remainder of my assets (Roth IRA, 2 traditional IRAs and a taxable account) will remain invested and hopefully grow significantly over that 10 year span. Then start tapping those assets to live on; claim SS at 70. I think I'll be set. Plus, DW doesn't plan on retiring anytime soon and she makes 50% more than I currently do.

I have been moving some of my investments to cash, just because the market has skyrocketed over the past year. Glad I did: as I type, the Dow is down over 1%. If it really dives, I might move that cash back in.

In other news, I'm super grateful for my mustachian ways. Today I went to the dentist and discovered I need not 1 buy 2 dental implants to replace a couple of root canals gone bad. I've been told to expect $10k each. They quoted me $12k for the pair, so not as bad (and they think my insurance will shave another $2k off that). Because I haven't touched it since the account was opened years ago, I have enough in my HSA to cover the whole thing, although not excited about liquidating that tax haven. Oh well, it doesn't truly affect my plans long term, and being prepared for shit like this is what the 'stache is all about.
Title: Two years to go!
Post by: PhilB on June 30, 2017, 01:22:34 AM
Only 2 more years to go to RE and I am now most definitely FI.  The last 2 years are just adding to my (already more than adequate) contingency fund to help me sleep better.  So it occurs to me, If my existing retirement funds can already support my lifestyle then all my post tax earnings are effectively just being added to savings - a 100% savings rate ! :-)
Title: Re: Two years to go!
Post by: Linea_Norway on June 30, 2017, 02:03:43 AM
Only 2 more years to go to RE and I am now most definitely FI.  The last 2 years are just adding to my (already more than adequate) contingency fund to help me sleep better.  So it occurs to me, If my existing retirement funds can already support my lifestyle then all my post tax earnings are effectively just being added to savings - a 100% savings rate ! :-)

Congrats on being FI!
Title: Re: Two years to go!
Post by: itchyfeet on June 30, 2017, 03:26:27 AM
Only 2 more years to go to RE and I am now most definitely FI.  The last 2 years are just adding to my (already more than adequate) contingency fund to help me sleep better.  So it occurs to me, If my existing retirement funds can already support my lifestyle then all my post tax earnings are effectively just being added to savings - a 100% savings rate ! :-)

Totally awesome that you are set financially.... but I can't agree with the maths 😜

I do get the sentiment, but if you are not spending your salary you are drawing on the returns from your stash. So yes a 100% savings rate of salary, but a negative saving rate elsewhere.

I have seen others here include investment returns + salary in calculating their savings rate e.g.: salary 100k + investment returns 100k = 200k. Expenditure = 50k. Therefore savings rate =75%.

Others just look at their salary and spending, not including investment gains. I think this is more common.

I guess both are valid, but your method hmmmm 😬.

 I suspect 2017 won't be the first year that investment returns were greater than spending. It will be our 3 year. This certainly adds confidence to FIREing.
Title: Re: Two years to go!
Post by: PhilB on June 30, 2017, 04:15:54 AM
Totally awesome that you are set financially.... but I can't agree with the maths 😜

I do get the sentiment, but if you are not spending your salary you are drawing on the returns from your stash. So yes a 100% savings rate of salary, but a negative saving rate elsewhere.

I have seen others here include investment returns + salary in calculating their savings rate e.g.: salary 100k + investment returns 100k = 200k. Expenditure = 50k. Therefore savings rate =75%.

Others just look at their salary and spending, not including investment gains. I think this is more common.

I guess both are valid, but your method hmmmm 😬.
My '100% savings rate' comment was very tongue-in-cheek and isn't a methodology I'd recommend generally - and certainly not before FI - but I think it does have some validity in my case.  As I am FI, when analysing my decision to keep working probably the most relevant question is 'what percentage of those earnings will be translated to an increase in my contingency fund?' and the rather delightful answer is 100%. 
My Excel model is telling me that if I retire today I should be able to support a spending level roughly 10% higher than my actuals for the last couple of years.  I don't expect much lifestyle inflation so anything extra just fattens the contingencies and increases inheritance. 
Quote
I suspect 2017 won't be the first year that investment returns were greater than spending. It will be our 3 year. This certainly adds confidence to FIREing.
Congratulations, that definitely helps.  I'm not very trusting of recent investment returns so that isn't a number I've particularly looked at against spending - in fact my retirement model has been using a 4% real return for the last 3 years rather than marking to market.  Actuals are currently about 8% above the number in my model and I wouldn't feel comfortable 'banking' that to the model as valuations are looking rather high.
Title: Re: Two years to go!
Post by: cerat0n1a on June 30, 2017, 05:00:28 AM
Only 2 more years to go to RE and I am now most definitely FI.  The last 2 years are just adding to my (already more than adequate) contingency fund to help me sleep better.  So it occurs to me, If my existing retirement funds can already support my lifestyle then all my post tax earnings are effectively just being added to savings - a 100% savings rate ! :-)

I'm effectively in the same situation. On the one hand, it's nice to see the total fund size growing so rapidly compared to when starting out. The first 10k (or 100k) truly is the hardest. On the other hand, when the size of your 'stache can easily vary by a month or two's salary during any given day, it's good to keep the discipline of not checking too often.
Title: Re: Two years to go!
Post by: PhilB on June 30, 2017, 06:05:36 AM
I'm effectively in the same situation. On the one hand, it's nice to see the total fund size growing so rapidly compared to when starting out. The first 10k (or 100k) truly is the hardest. On the other hand, when the size of your 'stache can easily vary by a month or two's salary during any given day, it's good to keep the discipline of not checking too often.
Yep.  It's a tricky thing to get your head around when the numbers get to be both big and bouncy.  What's worked for me is checking on the same day every week and plotting actuals against budget on a graph (geeky or what?).  After watching that for a few years I can now maintain my equanimity whilst watching the numbers go up and down and concentrate on the trends rather than the noise.
Title: Re: 2019 fire cohort
Post by: VoteCthulu on June 30, 2017, 01:06:20 PM
I track my savings once a month, mostly for personal motivation. I'm waiting for healthcare to become a bit more certain before I review my number to make sure I won't need OMY. Or if the Obamacare subsidies stick around, perhaps even OLY.
Title: Re: 2019 fire cohort
Post by: Linea_Norway on June 30, 2017, 01:12:49 PM
I tracked my stock investments day. It. Is all invested in foreign indexfunds for speading risk, as I live in a country with a small valuta. Earlier all my stock was at 7% or more profit. Currently my European index fund and the fastgrowing markets funds are in the negative! I guess it has something to do with the value of the Norwegian crown.bmy Asian index fund is still doing very well, as is my world index fund.  On all funds I am currently 10% in the positive after 1,5 year with investing. Still on schedule for the future 4% rule. And I presume those negative funds will climb again at some time in the future.
Title: Re: 2019 fire cohort
Post by: itchyfeet on July 01, 2017, 12:26:08 AM
I tracked my stock investments day. It. Is all invested in foreign indexfunds for speading risk, as I live in a country with a small valuta. Earlier all my stock was at 7% or more profit. Currently my European index fund and the fastgrowing markets funds are in the negative! I guess it has something to do with the value of the Norwegian crown.bmy Asian index fund is still doing very well, as is my world index fund.  On all funds I am currently 10% in the positive after 1,5 year with investing. Still on schedule for the future 4% rule. And I presume those negative funds will climb again at some time in the future.

Yeah, the weaker USD impacted me a little this month too.
Title: Re: 2019 fire cohort
Post by: Bateaux on July 01, 2017, 10:28:29 PM
If my investments return 5% annually for the next two years then I will meet my goal.  Sure would appreciate having some idea what health care costs will be then.
Title: Re: 2019 fire cohort
Post by: itchyfeet on July 02, 2017, 02:53:06 AM
June proved to be a great month on the road to FIRE, more than offsetting my stash shrinkage from May by adding a handy sum more.

I am now at 22x my post FIRE planned spending, or a withdrawal rate of 4.5% if I FIRED today.

So far this year my stash has generated very impressive annualized returns of 12.9%, primarily due to leveraged property investments.

My equity investments have only given me an annualized return of around 5% due to a flat Australian stock market and the weaker US dollar diminishing otherwise great returns on my international investments.

The annualized returns from property for the 6 months were 10%, but with leverage I gained 18% annualized. These numbers includes both rent and cap gains, and all costs including finance.

I really can't imagine any further gains on property this year beyond rent, so will be hoping for Australian equities to do some of the heavy lifting, like they did in H2 2016. Fingers crossed. At least dividends should be higher in H2.

My savings rate in June was not great. Clearly DW and I have work to do on tightening spending ahead of FIRE. The hole in June was spending on our summer vacation in July, which is not every month I suppose. However, after 6 months my spending this year is a couple of grand above the target, so we will want to reel that in over the coming months.

FIRE 2019 is certainly on track!!!

Title: Re: 2019 fire cohort
Post by: VoteCthulu on July 03, 2017, 01:21:00 PM
Yeah, the US index funds have done great this year. I find myself hoping for a little recession before I retire, so I can start off with the recovery. I'm pretty sure the market will tank 3- 6 months after whatever date I retire at, though.
Title: Re: 2019 fire cohort
Post by: itchyfeet on July 03, 2017, 01:35:48 PM
Yes, I will certainly never t be starting FIRE with 100% equities. Some cash and some bonds for at least the first few years will help me sleep better. I also have rental property that I'll prob keep post FIRE to provide a steady income.
Title: Re: 2019 fire cohort
Post by: Linea_Norway on July 04, 2017, 02:09:26 AM
Yes, I will certainly never t be starting FIRE with 100% equities. Some cash and some bonds for at least the first few years will help me sleep better. I also have rental property that I'll prob keep post FIRE to provide a steady income.

I haven't really been realizing this. Although for the last to weeks I have been thinking about buying bonds in the future. But we have such a large portion of our money put into property (our current house and hut) that the risk is already spread. We are investing in funds now to spread in into something else than property.
I haven seen a Norwegian bond fund (Rentefond) that has generated 4,5% in the past years. That doesn't sound too bad. Although most stock funds are between 8 and 18%. I think I'll wait before doing that until either the rent goes up or we really start working part time.
Title: Re: 2019 fire cohort
Post by: Vegasgirl on July 07, 2017, 07:20:24 AM
Just looking at my pay stub this morning and seeing that I got an award of 40 hours annual leave.   Makes my day since I decided back at the beginning of the year I had no problem using most, if not all of my AL prior to leaving in 2019 !! What fun !!  I think I'll just be off for the remainder of the Fridays this year !!! 
Title: Re: 2019 fire cohort
Post by: Livingthedream55 on July 07, 2017, 07:42:22 AM
Just looking at my pay stub this morning and seeing that I got an award of 40 hours annual leave.   Makes my day since I decided back at the beginning of the year I had no problem using most, if not all of my AL prior to leaving in 2019 !! What fun !!  I think I'll just be off for the remainder of the Fridays this year !!!

Sweet!
Title: Re: 2019 fire cohort
Post by: TartanTallulah on July 07, 2017, 09:09:22 AM
Just looking at my pay stub this morning and seeing that I got an award of 40 hours annual leave.   Makes my day since I decided back at the beginning of the year I had no problem using most, if not all of my AL prior to leaving in 2019 !! What fun !!  I think I'll just be off for the remainder of the Fridays this year !!!

Result! Congratulations :-)
Title: Re: 2019 fire cohort
Post by: Cornbread OMalley on July 09, 2017, 09:36:37 AM
Just looking at my pay stub this morning and seeing that I got an award of 40 hours annual leave.   Makes my day since I decided back at the beginning of the year I had no problem using most, if not all of my AL prior to leaving in 2019 !! What fun !!  I think I'll just be off for the remainder of the Fridays this year !!!
That is awesome!
Title: Re: 2019 fire cohort
Post by: Cornbread OMalley on July 09, 2017, 09:42:36 AM
Yes, I will certainly never t be starting FIRE with 100% equities. Some cash and some bonds for at least the first few years will help me sleep better. I also have rental property that I'll prob keep post FIRE to provide a steady income.
I will hit FIRE with 100% equities and stay that way indefinitely.  At least that's my thinking for now.  Upon FIRE I get a pension worth $40K annually that fits the role as bond income.  This gives me the flexibility to keep the allocation in equities very high.  So my thinking is if there is a downturn in the markets I rely on the monies from that pension and my cash reserves to ride out the downturn and give my equities the time needed to recover.
Title: Re: 2019 fire cohort
Post by: itchyfeet on July 09, 2017, 10:05:15 AM
A $40k pension would certainly be enough to allow me to sleep soundly every night.

I would value that at $800K in my stash. That's pretty nice to have.
Title: Re: 2019 fire cohort
Post by: Cornbread OMalley on July 09, 2017, 07:14:54 PM
A $40k pension would certainly be enough to allow me to sleep soundly every night.

I would value that at $800K in my stash. That's pretty nice to have.
Can you explain to me the math you used to equate a $40K pension to $800K stash?
Title: Re: 2019 fire cohort
Post by: itchyfeet on July 10, 2017, 01:19:37 AM
A $40k pension would certainly be enough to allow me to sleep soundly every night.

I would value that at $800K in my stash. That's pretty nice to have.
Can you explain to me the math you used to equate a $40K pension to $800K stash?

I am just saying that in the absence of the pension you would need at least 20x the pension saved in your stash to fund life post retirement ie: 20 x 40K = $800K.

Arguably, you could also say that having $40K of certain income is better than having an $800K stash that is subject to sequence of returns risk. In this case you might argue that the pension is worth say 30x its annual value ie: $1.2M. Whatever!!

Ultimately, it really doesn't matter, as I would presume for post FIRE calculations you would take your annual expenditure requirement and then deduct the $40K pension to arrive at the expenses than need to be funded from your stash and then multiply that number by 20-30 to arrive at how big a stash you need outside the pension.

I also will receive a small pension and I like to put a value on it as I consider it part of my net worth. In my case I wont get the pension for 10 more years, so discount the value.


Title: Re: 2019 fire cohort
Post by: Cornbread OMalley on July 15, 2017, 11:17:30 AM
I am just saying that in the absence of the pension you would need at least 20x the pension saved in your stash to fund life post retirement ie: 20 x 40K = $800K...I also will receive a small pension and I like to put a value on it as I consider it part of my net worth.
Ah, yes.  Some of the other forum members and I have posed the question of how much a pension translates to a number for net worth considerations.  At the end of the discussion we decided the technique you mention is oversimplifying things too much.  There are certain pension plans that don't translate to a set amount to be counted in the net worth stash.  It was better and more accurate to keep the pension amount separate from the net worth stash.

Arguably, you could also say that having $40K of certain income is better than having an $800K stash that is subject to sequence of returns risk. In this case you might argue that the pension is worth say 30x its annual value ie: $1.2M. Whatever!!
I think of my pension as an annuity.

...I would presume for post FIRE calculations you would take your annual expenditure requirement and then deduct the $40K pension to arrive at the expenses than need to be funded from your stash and then multiply that number by 20-30 to arrive at how big a stash you need outside the pension.
That is correct.
Title: Re: 2019 fire cohort
Post by: powersuitrecall on July 17, 2017, 11:25:42 AM
I'm in a kinda funny situation at work.  A while ago I applied for a promotion pool and have been going through the process (Resume --> Exam --> Interview).  It's all competency based and very procedural. i.e. long and painful.  Given that I'm 2 years away from RE, being promoted at this point wouldn't hasten my departure by much. On paper I'll get there a couple of weeks ahead, a month at most.

I've had many inner conversations between career-man: "You need this! It's important!" and RE-man: "Why are you going through this terrible process!  RE is in the bag! Work sucks! Let someone else have this! You don't need more money!".

At this point career-man seems to be winning.  I want it.  Maybe it's desire for external validation, or wanting to achieve something in my last 2 years.  Regardless, I know it's not for the money, and that is a nice feeling.

Update - I didn't pass the interview.  It's disappointing on a variety of levels but ultimately doesn't impact the FIRE goals.

Title: Re: 2019 fire cohort
Post by: PhilB on July 18, 2017, 05:35:44 AM
Commiserations on failing the interview, but bigger congratulations on being in a position where you can afford to great the news with: 'Whatever.'
Title: Re: 2019 fire cohort
Post by: Cornbread OMalley on July 26, 2017, 03:52:15 PM
My timeline for the next few years looks like this:

1)  Get stabilized with assignment in the United States
2)  Report to new assignment in September 2017
3)  Work in assignment until September 2018; submit retirement paperwork
4)  Full retirement, August 2019

Once I settle into my new duty assignment, I have to inform my new boss of my intent to retire.  I will have to play my cards close hold and assess the atmosphere of my new environment and time my announcement well.  I will continue to track my expenses to see how the finances will look in a LCOL area.  Two years of doing this along with continuing to build my stash and I'll be more than solid.  Overall, I don't think I could've asked for better circumstances for the short term, and things are going as I envisioned.  I locked in item #1 on the timeline.  I wrote a short email with my biography attached and sent to my new boss.  He seems happy to have me coming on board.  So this begins the closing out of my current job and begins the transition to the new one.
Title: Re: 2019 fire cohort
Post by: VoteCthulu on July 26, 2017, 04:17:28 PM
11 months retirement notice seems excessive, is there some exit benefit you get from it, or is that required in the military (I assume).
Title: Re: 2019 fire cohort
Post by: Cornbread OMalley on July 26, 2017, 04:37:13 PM
11 months retirement notice seems excessive, is there some exit benefit you get from it, or is that required in the military (I assume).
Processing a retirement request and the associated paperwork takes one year.
Title: Re: 2019 fire cohort
Post by: MoMan on July 26, 2017, 05:41:37 PM
You forgot to gloat that you are 24 months from total freedom!
Title: Re: 2019 fire cohort
Post by: Cornbread OMalley on July 26, 2017, 08:57:13 PM
You forgot to gloat that you are 24 months from total freedom!
Haha!  Nah, considering this is a 2019 cohort and most here will be done around the same time I will!
Title: Re: 2019 fire cohort
Post by: Trifele on July 31, 2017, 04:24:41 AM
Crossing a milestone today.  Two years from today will be my last day of work!!  24 months to freedom.  Yeah!
Title: Re: 2019 fire cohort
Post by: MoMan on July 31, 2017, 06:57:54 AM
Exciting!! I just dropped below the 800 day mark, so I'm about 3 months behind you.

Tick ... tock ...
Title: Re: 2019 fire cohort
Post by: TartanTallulah on July 31, 2017, 10:46:54 AM
I've resolved to stop counting days. Counting days doesn't help, because at the moment it still looks like a lot of days, and because it distracts me from the present need to do my job as well as I can.
Title: Re: 2019 fire cohort
Post by: zinnie on July 31, 2017, 04:16:11 PM
I've resolved to stop counting days. Counting days doesn't help, because at the moment it still looks like a lot of days, and because it distracts me from the present need to do my job as well as I can.

me too, counting makes it worse and go much slower. as does focusing on it too much by visiting this thread! trying really hard to focus on other things while the time passes anyway, so i don't make myself miserable all this time. will be easier once it gets closer, i assume...
Title: Re: 2019 fire cohort
Post by: Bateaux on July 31, 2017, 06:35:55 PM
My old date was March 1, 2018.  I'd set that date back in 2014.  I'd set a goal of 2M net worth and no debt by that date.  The net worth goal has been surpassed.  The date however had been extended by 15 months.  The new goal is 2M liquid and no debt.  This is a hard date now.

669 days
Title: Re: 2019 fire cohort
Post by: itchyfeet on August 02, 2017, 11:55:36 PM
July Report Card

The Good...

  - After 7 months of the year (58% of the year) our net worth has grown by 81% of the target I set for the year at the beginning of 2017. We are having a good year.
  - Investment returns so far this year are more than our salaries and double our expenditure
  - Our stash is now at 22.5x our forecast post FIRE annual spending. So close now!!!. If we stopped working today we would be looking at a 4.4% withdrawal rate, which is most likely going to be successful with a little flexibility

The Bad

  - Spending in the first 7 months was a little higher than it should have been. We have a rough objective of not spending more than 50% of what we earn (we don't keep a detailed budget), and after 7 months we have spent 54% of income. We will try to recover this minor overspend in the remaining 5 months of the year. The overspend is purely due to hedonistic vacations.

Discussions are ongoing about whether to bring FIRE forward to 2018, as we will hit our number probably mid 2018. However, in light of the heady investment returns we have enjoyed of late we might stick with the original date (June 2019) and take a little extra cash buffer into FIRE with us. Decision will be made at Christmas this year.
Title: Re: 2019 fire cohort
Post by: zinnie on August 03, 2017, 08:37:39 AM
July Report Card

The Good...

  - After 7 months of the year (58% of the year) our net worth has grown by 81% of the target I set for the year at the beginning of 2017. We are having a good year.
  - Investment returns so far this year are more than our salaries and double our expenditure
  - Our stash is now at 22.5x our forecast post FIRE annual spending. So close now!!!. If we stopped working today we would be looking at a 4.4% withdrawal rate, which is most likely going to be successful with a little flexibility

The Bad

  - Spending in the first 7 months was a little higher than it should have been. We have a rough objective of not spending more than 50% of what we earn (we don't keep a detailed budget), and after 7 months we have spent 54% of income. We will try to recover this minor overspend in the remaining 5 months of the year. The overspend is purely due to hedonistic vacations.

Discussions are ongoing about whether to bring FIRE forward to 2018, as we will hit our number probably mid 2018. However, in light of the heady investment returns we have enjoyed of late we might stick with the original date (June 2019) and take a little extra cash buffer into FIRE with us. Decision will be made at Christmas this year.

Great update! Congrats on possibly moving up to 2018. Either way, that's pretty close :)
Title: Re: 2019 fire cohort
Post by: zinnie on August 03, 2017, 09:20:15 AM
So, I quit my job. I have been spectacularly unmotivated, we are planning for layoffs, and seeing my boss sketch out new team organizations with me in them and others not just didn't feel right. People on my team really like their jobs and really want to stay, and I don't. So after September 1, I will be unemployed.

The good news is that it looks like as long as we can figure out how to invest $1500/month, I will just move from early to late 2019! That MMM article about your investments becoming a snowball that just picks up speed is so true. I can do freelance and contract work in my field, and my husband is going to teach in the evenings to bring in a little extra cash. Budgets will be really tight, but it will be good practice for FIRE.

I also need to figure out what I want to do with the rest of my life, and now Iím forced into it. We havenít really focused much on where we want to live (we are here because of jobs), what we want to do, and kids or no kids, as weíve mostly focused on trying to balance two full-time jobs with small amounts of fun. Iíve had a hard time feeling like I have enough time for a life outside of work, and now that will be gone.

Iím a little scared. My coworkers are pretty much like family, and are my sole source of friendships right now. Though everyone is promising to keep in touch, I know thatís all going to change. That said, I donít know very many people who live close to me and I need to. I want to spend more time in my own neighborhood. Now it feels like I just come here to sleep.

Title: Re: 2019 fire cohort
Post by: Cornbread OMalley on August 03, 2017, 10:08:53 AM
So, I quit my job...I also need to figure out what I want to do with the rest of my life, and now Iím forced into it...I donít know very many people who live close to me and I need to. I want to spend more time in my own neighborhood...
That's really awesome in a MMM kind of way.  This is a fresh start, and now you can really explore what is immediately around you and what interests you.  I'm jealous since I don't have the option to call it quits.
Title: Re: 2019 fire cohort
Post by: zinnie on August 07, 2017, 08:15:30 AM
So, I quit my job...I also need to figure out what I want to do with the rest of my life, and now Iím forced into it...I donít know very many people who live close to me and I need to. I want to spend more time in my own neighborhood...
That's really awesome in a MMM kind of way.  This is a fresh start, and now you can really explore what is immediately around you and what interests you.  I'm jealous since I don't have the option to call it quits.

Thanks! This is FU money, I guess? Even though I'm not exactly saying it that way...

Sounds like you have a good plan going on. Sorry it can't come sooner, though!
Title: Re: 2019 fire cohort
Post by: markbike528CBX on August 07, 2017, 08:30:32 AM
I made a command decision this summer. No more working summers. So I'll bail out of the job before Memorial Day 2018. 

"I would say it is your first command decision".
http://www.voyager.cz/tng/epizody/034matterofhonortrans.html


Oddly, one of the things that made me reluctant to bail early was the fact that I'm the OP of this thread.
Title: Re: 2019 fire cohort
Post by: Livingthedream55 on August 07, 2017, 08:55:14 AM
I made a command decision this summer. No more working summers. So I'll bail out of the job before Memorial Day 2018. 

"I would say it is your first command decision".
http://www.voyager.cz/tng/epizody/034matterofhonortrans.html


Oddly, one of the things that made me reluctant to bail early was the fact that I'm the OP of this thread.

Congrats!  So one less year then? :0 )
Title: Re: 2019 fire cohort
Post by: markbike528CBX on August 07, 2017, 09:06:24 AM
I made a command decision this summer. No more working summers. So I'll bail out of the job before Memorial Day 2018. 

"I would say it is your first command decision".
http://www.voyager.cz/tng/epizody/034matterofhonortrans.html


Oddly, one of the things that made me reluctant to bail early was the fact that I'm the OP of this thread.

Congrats!  So one less year then? :0 )

OLY, seems pretty scary now that it is on the Internet, where everything is true :-)
Title: Re: 2019 fire cohort
Post by: TartanTallulah on August 07, 2017, 10:18:42 AM
I made a command decision this summer. No more working summers. So I'll bail out of the job before Memorial Day 2018. 

"I would say it is your first command decision".
http://www.voyager.cz/tng/epizody/034matterofhonortrans.html


Oddly, one of the things that made me reluctant to bail early was the fact that I'm the OP of this thread.

Well, isn't that fabulous :-) Congratulations on a wise decision; I'm assuming the math allows it.

This is the third consecutive summer that I've "lost" due to exceptional circumstances at work, and it sucks. I'm not all that young and I don't have many summers left. I haven't written off the possibility of handing in my notice in time to be able to call the shots regarding how much work I do next summer. I could earn enough, on a flexible freelance basis, to keep me ticking over to my planned retirement date.
Title: Re: 2019 fire cohort
Post by: itchyfeet on August 07, 2017, 11:39:47 AM
Nice work Mark.

I am on an emotional roller coaster considering everything between OLY (finishing up June next year) and 5MYs 😬.

It's taken me more than 20 years hard work to get my way into a fairly high paying job. Seems a bit ludicrous to just walk away and not take the opportunity to pad the stash and also to create the opportunity to financially help out some family members.. (I have only been earning the big bucks for the past 3 years, and ill still only be 50 if I work 5 more years. Health is good for now - 50 seems young to me).

..... on the other hand it seems equally ludicrous to work longer than necessary when I have such a long list of things I'd like to be doing....... in the next 5 years 😁

Decision to be made at XMas.
Title: Re: 2019 fire cohort
Post by: markbike528CBX on August 07, 2017, 04:59:25 PM

Well, isn't that fabulous :-) Congratulations on a wise decision; I'm assuming the math allows it.

This is the third consecutive summer that I've "lost" due to exceptional circumstances at work, and it sucks.

40x comfortable, 30x basic expenses ( with extra taxes and slack)

I didnt want to become TartanTallulah. :-) three years!
Title: Re: 2019 fire cohort
Post by: Pylortes on August 07, 2017, 10:44:47 PM
I made a command decision this summer. No more working summers. So I'll bail out of the job before Memorial Day 2018. 

"I would say it is your first command decision".
http://www.voyager.cz/tng/epizody/034matterofhonortrans.html


Oddly, one of the things that made me reluctant to bail early was the fact that I'm the OP of this thread.

Wait, the OP of the 2019 thread is bailing for the 2018 thread?  This is a major coup for the 2018 group and must leave a bitter taste in the mouths of the 19ers!  It's sort of like that time Brett Favre left Green Bay and played for the Vikings.
Title: Re: 2019 fire cohort
Post by: Linea_Norway on August 08, 2017, 02:57:12 AM
I made a command decision this summer. No more working summers. So I'll bail out of the job before Memorial Day 2018. 

"I would say it is your first command decision".
http://www.voyager.cz/tng/epizody/034matterofhonortrans.html


Oddly, one of the things that made me reluctant to bail early was the fact that I'm the OP of this thread.

Well, isn't that fabulous :-) Congratulations on a wise decision; I'm assuming the math allows it.

This is the third consecutive summer that I've "lost" due to exceptional circumstances at work, and it sucks. I'm not all that young and I don't have many summers left. I haven't written off the possibility of handing in my notice in time to be able to call the shots regarding how much work I do next summer. I could earn enough, on a flexible freelance basis, to keep me ticking over to my planned retirement date.

Yes, we lose too much through work. Last year I lost my autumn vacation because of an extremely stressful situation at work. And my approved conference visit was cancelled because of a delayed software release.

I have also at times wanted to stay at my vacation address a few days longer, for example when the snow and the weather are great. But there is always work to go back to.

My DH recently talked to an old colleague of his, who is an old age pensioner, but still works part time. This man told my DH that he never worked during summer anymore. I think this could be our first step into part time FIRE. Just taking the summers off. I hope my work will also allow for it, although I think they might be sceptical. I hope I can do some contracting work for them, as they are so conveniently close to where I live.
Title: Re: 2019 fire cohort
Post by: TartanTallulah on August 08, 2017, 04:07:58 AM

I didnt want to become TartanTallulah. :-) three years!

It's not as bad as it sounds. I have no great desire to go away in the summer now that my children have all finished school. In previous summers I've worked civilised hours - no more than three days most weeks - and been able to squeeze a lot of outdoor activities into my days off. The last couple of years I've worked four or five long days every week during the summer and have been too tired to get much done on my days off. Still, I get paid for what I do, last year's overtime bonus covered the cost of a new car for DH, and if I save this year's overtime bonus I'll have the option of bringing my retirement date forward by several months.

It suits me to save my vacation entitlement for the winter months and fly off to sunny places. But I'd like to have the summers to spend exploring my own country, visiting friends and family, going to sporting and cultural events and making last minute travel decisions based on the weather and invitations.


Yes, we lose too much through work. Last year I lost my autumn vacation because of an extremely stressful situation at work. And my approved conference visit was cancelled because of a delayed software release.

I have also at times wanted to stay at my vacation address a few days longer, for example when the snow and the weather are great. But there is always work to go back to.

My DH recently talked to an old colleague of his, who is an old age pensioner, but still works part time. This man told my DH that he never worked during summer anymore. I think this could be our first step into part time FIRE. Just taking the summers off. I hope my work will also allow for it, although I think they might be sceptical. I hope I can do some contracting work for them, as they are so conveniently close to where I live.

I like the idea of choosing which part of the year to work. Part of me thinks, "I could augment my FIRE income by offering to work two or three days a week when needed to provide vacation cover, just in my current workplace." But I know what would happen, because I've been implanted with a deep subconscious belief system that massively overvalues work. Within a very short time, I'd be agreeing to do a day extra here and there for this reason and that reason because I find it difficult to turn work down, and other local businesses would approach me with sob stories and generous offers (this isn't because I'm especially gifted at what I do, but I'm reliable, cheerful, and competent enough, and there's a skill shortage where I live), and in no time at all I'd be working more as a retired person than I am now.

It would be safer for me to give my career a hug and thank it for the joy it has brought me, then send it off to landfill and never think about it again.

Title: Re: 2019 fire cohort
Post by: cerat0n1a on August 08, 2017, 05:49:50 AM
I made a command decision this summer. No more working summers. So I'll bail out of the job before Memorial Day 2018. 

"I would say it is your first command decision".
http://www.voyager.cz/tng/epizody/034matterofhonortrans.html


Oddly, one of the things that made me reluctant to bail early was the fact that I'm the OP of this thread.

Wait, the OP of the 2019 thread is bailing for the 2018 thread?  This is a major coup for the 2018 group and must leave a bitter taste in the mouths of the 19ers!  It's sort of like that time Brett Favre left Green Bay and played for the Vikings.

I think I'm also going to bail for the 2018 thread. Original 2019 date was based on waiting for youngest son going to university rather than financial reasons. Having had a semi-empty nest for a while, I now think that there's no need to wait for a fully empty nest and summer 2018 should be my target (exact finish date unknown because I don't know whether or not the 3 months notice specified in my employment contract would actually be enforced.)
Title: Re: 2019 fire cohort
Post by: Trifele on August 08, 2017, 06:27:32 AM
What the heck is going on here?  :)  Will there be any of us left in 2019?   

TartanTallulah -- Love your quote about giving your career a hug and sending it to the landfill.  Those are my plans as well. 
Title: Re: 2019 fire cohort
Post by: Linea_Norway on August 08, 2017, 06:40:10 AM
What the heck is going on here?  :)  Will there be any of us left in 2019?   

TartanTallulah -- Love your quote about giving your career a hug and sending it to the landfill.  Those are my plans as well.

Don't worry, I'll be here to the bitter end of 2019. I'm sure of it. :-(
Title: Re: 2019 fire cohort
Post by: MoMan on August 08, 2017, 07:55:13 AM
Yes, we lose too much through work. ... I have also at times wanted to stay at my vacation address a few days longer, for example when the snow and the weather are great. But there is always work to go back to.

Yes. I feel just a little bitter during every beautiful, sunny day when I'm staring out of a plate glass window at the park just across from my building, thinking of all the places I'd rather be and all the things (including absolutely nothing) that I could be doing.

Barring a global nuclear war, or the current administration converting our country to universal health care, I will be here through most of 2019, eyeing my last corporate perk: company health care for life.
Title: Re: 2019 fire cohort
Post by: TartanTallulah on August 08, 2017, 09:45:48 AM
I'm just fantasising about bringing my retirement date forward. Although at a squeeze we could survive from April 2018 to April 2019 on cash savings plus my husband's income, I'd rather stick with my original plan and know that once I've retired I can be confident of being able to stay retired.
Title: Re: 2019 fire cohort
Post by: Vegasgirl on August 09, 2017, 10:58:56 AM
Just registered for my first in a series of retirement classes at work !! This one is set for mid-November and is an overview of everything.   So they want us go through a whole bunch of classes before signing anything.  I'm okay with it - the more info the better.  I'll be taking 4 classes in 2018 and then final signing in 2019. 
Title: Re: 2019 fire cohort
Post by: Linea_Norway on August 10, 2017, 06:56:47 AM
I think I might need to retreat from this group. My plan was to go work 50% from the end of 2019, but I think now that that is too optimistic.

My DH always presumes that we will still own our cabin after FIRE. Therefore I have taken the value of it (700K NOK (=norwegian crowns), roughly 70K$) out of my FIRE calculations. But damn, then we have a whole bunch more to save.

The sum that I need to FIRE fulltime in 2020 is 7,5 mil NOK (roughly $750K). But without the cabin, we only have 5,2 mil NOK (roughly $520K) at this moment if we downsize the house. Last year we saved 750K NOK ($75K). So if we keep that saving level in the coming years, there is no chance we can FIRE 50% in 2019 and full time in 2020. The value of the hut is about 1 year of our savings, and more than a year of our spendings (500K NOK / roughly $50K). We live in a HCOL country.

I realize I am looking at and least then end of 2020 for FIRE. Or I should be able to convince my DH to sell the cabin and travel back to that area from time to time to stay in our tent for free. DH likes the trout fishing there. There is a lot of wilderness there where you could camp for free, legally. I think this is the best way to go.

I guess that FIRE before my 50th is really a bit bare bones, in the sense that we need to sell house and cabin. But I would gladly do that. Although I love to be at that cabin, I still think if we would go live somewhere in an area where you can do a lot of fun things, you perhaps don't need a cabin somewhere else. The cabin costs us approx. 18K NOK (roughly $1.8K per year) for currently 30 days of use, spread through the year.

We could also imagine living in our cabin for some time after selling the house, even though it is small. One option is to sell the house at the start of FIRE, do a year of cheap type travelling (like cycling through Europe and sleep in the tent or something like that) and then keep the cabin as a base station between trips. And than later rent or buy a small house at some location that we like.
Title: Re: 2019 fire cohort
Post by: Chairman on August 13, 2017, 05:48:48 PM
I might end up not being in the 2019 cohort after all, not because I'm hitting my number early (I won't) but because next year I'll be forced to quit my job due to some complicated circumstances (tax-related, immigration-status-related, family-related, health-related etc). My plan was to "semi-FIRE" in 2019 but now I'll be doing it in 2018. "Semi" in the sense of not really needing to work but doing it anyway from time to time; now the need will be a little stronger, but the overall shape of the plan remains the same.
Title: Re: 2019 fire cohort
Post by: Linea_Norway on August 14, 2017, 01:39:11 AM
I am unsure again. My DH is now willing to sell the cabin and try living in a mobile home during the summer and in a small apartment the rest of the year. Especially hiring places until we know where we want to live. So we might free up some assets after all. We have been discussing several scenarios:
- Start FIRE with some long, cheap, slow-travel journeys and use a small home base in between those travels.
- Spend a whole winter in the very far north. I suggested one of the bigger towns over there, but small apartments there are already surprisingly costly. The north of Norway has lower income tax, but that is only relevant if you have an income.
- Working part time, e.g. 2 days a week and not during the summer, to earn some extra cash to be able to do some outrageous travel.
- Hire a mobile home (caravan) and live in that during the summer months, maybe on an acceptable campsite. Renting a small apartment during the winter.

The whole challenge in these scenarios is that we own so much stuff, including a lot of hobby stuff and tools that living in a small apartment will be a challenge. We would seriously need to minimize our household and make some really hard priorities. On the other hand, we could very well ditch the guest beds, large dining table and many of the nice-to-keep books. But most of the hobby stuff is regularly used and we are planning on doing just those hobbies.
Title: Re: 2019 fire cohort
Post by: Cornbread OMalley on August 20, 2017, 09:58:15 AM
I read and caught up on this thread, and some of you have interesting circumstances!  This FIRE goal is fraught with complex decisions and lifestyle changes.
Title: Re: 2019 fire cohort
Post by: itchyfeet on August 21, 2017, 04:04:55 AM
In yet another twist, changes to Australian tax law announced in this year's budget (but
Missed by me till now) have given a further prompt to FIRE (at least for a mini retirement) in 2018.

If we do not repatriate back to Australia, and move back into our old home before 30 June 2019 we will be faced with a tax bill of around ~$150,000 or potentially $300,000 (I need some clarification on the law) when we sell that house to move to somewhere cheaper. (For any Australian readers this relates to the end of the old 6 year CGT exemption rule).

The lease to our tenants will end Feb 2019 so we should probably plan to move back in then. As we had always planned to travel for 6 months before moving home the tax law is making us seriously consider a June 2018 FIRE, which we were seriously considering in any case LOL.

DW has a job option from Jan 2019 in Australia if she wants. I don't plan on working, but DW is far more off en to the idea.

DW's mother is also not well which is yet another driver for earlier repatriation and FIRE or mini FIRE.

I say mini FIRE because I remain a little concerned that some extra stash buffer would be good to avoid any future money worries whatsoever. We have put ourselves in a great position never to have to worry about money. I really don't want to turn the tap off too soon. Part time or contract work post FIRE will add that little bit of froth to our full glass. This work could happen any time I bet the next 25 years. It is still hard to get my head around the fact of retiring 20-25 years early. Awesome, but so different to my friends, family and peers.
Title: Re: 2019 fire cohort
Post by: PhilB on August 22, 2017, 08:43:04 AM
All this talk of 2018 is getting me twitchy too.  We'll try to stick to the original plan, but I'm going to stop making any more than minimum pension contributions for the rest of this tax year as this should get us to a position where we'd have the cashflow to go mid 2018.  If we are still holding on for 2019, I'll then use carry-forward rules to catch up the contributions, but at the moment my uncomfortable feelings from not having enough cash to see me through outweigh my fears that they might change the tax rules to limit tax relief to 20% instead of 40%.
2019 has an endowment policy maturing and DW reaching 55 (UK minimum for accessing pension savings) so we'll have plenty of liquidity then, but we've been pushing everything into pensions for the last few years and so have comparatively little in accessible funds now (about 7 months spending).
Title: Re: 2019 fire cohort
Post by: PhilB on August 22, 2017, 08:56:38 AM
The whole challenge in these scenarios is that we own so much stuff, including a lot of hobby stuff and tools that living in a small apartment will be a challenge. We would seriously need to minimize our household and make some really hard priorities. On the other hand, we could very well ditch the guest beds, large dining table and many of the nice-to-keep books. But most of the hobby stuff is regularly used and we are planning on doing just those hobbies.
We have similar issues with hobby stuff.  I've gradually come to the conclusion that what we really need is quite a small house, but with lots of large outbuildings!  I don't know if that would be a possibility for you somewhere rural in Norway?  Or alternatively would it be possible to take advantage of the dirt-cheap house prices in rural France to sell or rent out your current house then spend your summers at the Norwegian cabin and winters in France?
Title: Re: 2019 fire cohort
Post by: Linea_Norway on August 23, 2017, 02:32:34 AM
The whole challenge in these scenarios is that we own so much stuff, including a lot of hobby stuff and tools that living in a small apartment will be a challenge. We would seriously need to minimize our household and make some really hard priorities. On the other hand, we could very well ditch the guest beds, large dining table and many of the nice-to-keep books. But most of the hobby stuff is regularly used and we are planning on doing just those hobbies.
We have similar issues with hobby stuff.  I've gradually come to the conclusion that what we really need is quite a small house, but with lots of large outbuildings!  I don't know if that would be a possibility for you somewhere rural in Norway?  Or alternatively would it be possible to take advantage of the dirt-cheap house prices in rural France to sell or rent out your current house then spend your summers at the Norwegian cabin and winters in France?

Of course a small house with a large outhouse is possible.

I have also been considering in living in some nice coastal place in the summer and in some nice winter resort in the winter (we like to go cross-country skiing). But all scenarios require owning multiple buildings. You would need to rent them out to make sure they generate some money. And if you are living in some other far away place, renting out is more challenging as you would need a (paid) caretaker. It is definitively an alternative to live in several places and rent out, but we'll need to think it through very well.
We could probably rent out our current house, but I am not sure if we could get a high enough rent for it to generate a nett 4% profit.
Title: Re: 2019 fire cohort
Post by: TartanTallulah on August 23, 2017, 03:41:53 AM
All this talk of 2018 is getting me twitchy too.  We'll try to stick to the original plan, but I'm going to stop making any more than minimum pension contributions for the rest of this tax year as this should get us to a position where we'd have the cashflow to go mid 2018.  If we are still holding on for 2019, I'll then use carry-forward rules to catch up the contributions, but at the moment my uncomfortable feelings from not having enough cash to see me through outweigh my fears that they might change the tax rules to limit tax relief to 20% instead of 40%.
2019 has an endowment policy maturing and DW reaching 55 (UK minimum for accessing pension savings) so we'll have plenty of liquidity then, but we've been pushing everything into pensions for the last few years and so have comparatively little in accessible funds now (about 7 months spending).

I'm doing the same juggling act, trying to hit the right balance between tax-advantaged savings for the longer term and immediately-accessible savings to fill in the gap between the age I'll actually retire and the age at which I can take my pension. Watching cash collecting in a savings account on 1% interest while I have unused ISA allowance and my husband has unused SIPP capacity (and I possibly have too, but that's less certain because my occupational pension contributions are substantial and mysterious) is making my fingers twitch, but I'm sure it's only bothering me because I see it sitting there every time I check the online balance of our current account and know that with a couple of mouse clicks it could be in my ISA or one of our SIPPs.

Once I have six months' living costs plus the cost of our next-but-one holiday in cash, I'll start thinking about topping up the pensions again. I estimate that we'll be there by the beginning of 2018.
Title: Re: 2019 fire cohort
Post by: Trifele on August 23, 2017, 04:26:22 AM
I'm doing exactly the same thing right now.  Previously I was maxing out 403b/457, and now have throttled way back so I can top up our cash accounts instead.   It does feel weird to have all that tax-advantaged space sitting there unused . . . But like you Tartan Tallulah, if I can hit my cash goal early (maybe February of 2019?)  then I can start pouring money back into the tax advantaged space. 
Title: Re: 2019 fire cohort
Post by: oldtoyota on August 23, 2017, 03:51:39 PM
I read and caught up on this thread, and some of you have interesting circumstances!  This FIRE goal is fraught with complex decisions and lifestyle changes.

It really is! I'm having my own challenges with DH saying he doesn't think the numbers will work based on our spending.
Title: Re: 2019 fire cohort
Post by: PhilB on August 24, 2017, 02:31:47 AM
It really is! I'm having my own challenges with DH saying he doesn't think the numbers will work based on our spending.
The only real answer to that is to provide him with the hard data to prove that the numbers work and they have enough of a buffer to let you (him) sleep soundly.  I wouldn't consider FIRE myself without several current years of spending data, robustly analysed and adjusted for any fixed changes in spending - mortgage and school fees go away in your case, I believe, but is there anything that needs to be added on eg medical insurance if already covered by work?  Write a proper business case document for him setting it all out.  If a reasonable projection of passive income comfortably covers adjusted current spending then he should find that hard to argue with.  If your numbers include other lifestyle changes you haven't yet put in place of the 'I'm sure we could spend less than we do now' variety then I'd say your DH is right to be worried.  You have to make the changes and live with the changes to know for sure that you'll be happy with the changes.
Title: Re: 2019 fire cohort
Post by: Linea_Norway on August 24, 2017, 02:36:59 AM
It really is! I'm having my own challenges with DH saying he doesn't think the numbers will work based on our spending.
The only real answer to that is to provide him with the hard data to prove that the numbers work and they have enough of a buffer to let you (him) sleep soundly.  I wouldn't consider FIRE myself without several current years of spending data, robustly analysed and adjusted for any fixed changes in spending - mortgage and school fees go away in your case, I believe, but is there anything that needs to be added on eg medical insurance if already covered by work?  Write a proper business case document for him setting it all out.  If a reasonable projection of passive income comfortably covers adjusted current spending then he should find that hard to argue with.  If your numbers include other lifestyle changes you haven't yet put in place of the 'I'm sure we could spend less than we do now' variety then I'd say your DH is right to be worried.  You have to make the changes and live with the changes to know for sure that you'll be happy with the changes.

+1. Have a look at your real spending and see who is right. Maybe the husband has a point? Make an overview with the real numbers.
Title: Re: 2019 fire cohort
Post by: FIRE 20/20 on August 27, 2017, 09:43:03 AM
I'm moving from the 2020 cohort into 2019.  We should be at 25x expenses sometime in early 2018.  Even though we have plenty of buffer in that budget and are ignoring our pensions, social security, inheritance, and the possibility of consulting work, we're incredibly risk averse so OMY to 2019 is the new plan.  Once we're out of our industry it will be almost impossible to get back in.  There are some regular certification rules that mean that we both have a golden ticket right now for good salaries and little risk of unemployment, but once we lose the certs it's incredibly hard to get back in.  In early 2019 we should hit 3.5% WR with inflated expenses, so I don't see a need to stick around into 2020 unless the markets absolutely collapse between now and then. 
Title: Re: 2019 fire cohort
Post by: Cornbread OMalley on August 27, 2017, 10:42:41 AM
Make an overview with the real numbers.
Track your expenses.  I don't think there is any other technique that's effective.  I've tracked my spending for a little over two years now, and I manually track it using an Excel spreadsheet that I built, very simple tool.  But my FIRE calculations are based on the solid calculations using math (simple math at that) and the numbers in the expense tracker.  I'm single right now, but even when I make assumptions for costs to support a wife and kid and pay for a house, the numbers still work out for FIRE.  Knowing that is extremely comforting and allows me to worry about other things.  I would not have the level of understanding of what it takes to FIRE had I not started tracking my expenses.
Title: Re: 2019 fire cohort
Post by: moxie on August 28, 2017, 12:57:04 PM
I'm adding myself to 2019.

Title: Re: 2019 fire cohort
Post by: CryingInThePool on August 28, 2017, 01:10:52 PM
Welcome FIRE 20/20 and Moxie!   With all the recent OLY conversations and skip aheads to 2017/18 it's only fair that a few drop into join us in 2019 as well.

Title: Re: 2019 fire cohort
Post by: Bateaux on August 28, 2017, 08:19:39 PM
Everywhere I look I see danger.  I know there will always be uncertainty, but it just seems to be building.  I'm getting 2019 cold feet and thinking I need another million.
Title: Re: 2019 fire cohort
Post by: PhilB on August 29, 2017, 04:52:07 AM
Everywhere I look I see danger.  I know there will always be uncertainty, but it just seems to be building.  I'm getting 2019 cold feet and thinking I need another million.
So what dangers, apart from those surrounding the possible ending of affordable healthcare in your country, do you think 'another million' will shield you from?
Title: Re: 2019 fire cohort
Post by: itchyfeet on August 29, 2017, 08:49:04 AM
I am also toying with the idea of padding the stash further. Not through fear, but through greed.

I just don't know.

What is certain is that at this point the stash is growing very fast.

2 years extra of working (even on a lower salary) would make a significant difference to spending options post FIRE.
Title: Re: 2019 fire cohort
Post by: PhilB on August 29, 2017, 09:16:41 AM
I've been round and round those thoughts about padding the stash even more to give me more options and it can indeed be very alluring.  It all comes back to the question of what makes you happy.  For me, I'll already have a well padded stash and if I want to spend more one month then I can simply spend less another. 
Yesterday was a public holiday here and most people spent it sitting in traffic jams to and from crowded beaches.  I spent an absolutely idyllic day - working in the garden, playing with the kids, reading a book in the shade, cooking and eating a great stir fry and washing it down with a bottle of wine.  Total spend for the day about £10.  If you offer me the choice of spending 3 weeks like that, or an extra week working, in order to save much the same amount of money then I know which one I'm going for.
Title: Re: 2019 fire cohort
Post by: Bateaux on August 29, 2017, 10:07:05 AM
I like some non Mustacian things.  Like wanting to liven on a boat.  A really nice boat.  I'm not wanting to push out for five years.  Maybe 2020.
Title: Re: 2019 fire cohort
Post by: VoteCthulu on August 29, 2017, 05:26:03 PM
Sometimes I think I should work longer, and other times I seriously consider quiting now and taking the risk of an over 4% WR. Once I hit my number I expect I'll coast along until the next BS moment at work pisses me off enough that I just quit.
Title: Re: 2019 fire cohort
Post by: markbike528CBX on August 29, 2017, 05:38:48 PM
I'm waiting for someone to say "Do this (crap BS stuff), it is a condition of employment", as I'd be OK with that and be unemployed.

MPP- most everyone here at work is pretty cool and wouldn't say things like that.  Everyone suspects I'm FI.
Title: Re: 2019 fire cohort
Post by: TartanTallulah on August 30, 2017, 02:30:54 AM
I'm waiting for someone to say "Do this (crap BS stuff), it is a condition of employment", as I'd be OK with that and be unemployed.

That is happening to me. All. The. Time.

Crap BS stuff will grind me down, but my workplace is also threatening to become toxic and dramatic in the near future and that could make me press the eject button early even if it means freelancing for a while.
Title: Re: 2019 fire cohort
Post by: itchyfeet on September 01, 2017, 03:00:58 AM
Another month done and it's time to tally up the numbers.

However, before getting to the numbers, I feel the need to express a small, silly rant.

I have become rather anal in tracking my progress towards FIRE, OCD even. I know I am not alone here in this obsession. Whilst it is easy to track my bank accounts and stocks, as their value is quoted second by second, for my property investments I have to use a proxy. I can't list my houses every day to see what a buyer would pay. So in "the rules" of my tracking spreadsheet I use the property indexes issued by corelogic.com.au. It's not perfect, but they publish a daily index for each Australian major city, so it's easy for me to use. I know that I won't really know what the houses are worth till I sell, but I like tracking the approximate value by index (even if the starting value I used for this year was based on my personal, "expert", conservative assessment of valuation based on comparable sales and not the indexed value from purchase date, which seemed to overstate the value. Yes this rant contains a few contradictions. lol).

Anyways, I have been happily tracking the property value indexes month by month (and sadly even more often), and then all of a sudden at 31 August Corelogic.com.au decides to change their index methodology. The result of this is that my property value, per the index, dropped by $40,000 compared to 1 day earlier. Yes, it's only an approximate index, but I am miffed by this sudden drop in my NW.

Ok that's the end of my silly, and meaningless rant.

In the end, at 31 August my spreadsheet shows a small decrease in NW for the month of August, and FIRE is a little further away... hypothetically at least.

Savings were good for August, and stock market returns ok. Just that damned adjustment to the property index. Haha.

So we are parked at 22x spending for another month, but am looking forward to September as I think our spending will be lower than normal this month.
Title: Re: 2019 fire cohort
Post by: dude on September 01, 2017, 07:45:31 AM
Just looking at my pay stub this morning and seeing that I got an award of 40 hours annual leave.   Makes my day since I decided back at the beginning of the year I had no problem using most, if not all of my AL prior to leaving in 2019 !! What fun !!  I think I'll just be off for the remainder of the Fridays this year !!!

Oh man, I was getting that same award for like 5 years straight because I was maxed out in my pay grade, but then they went and upgraded my position from a -14 to a -15, and I was eligible for QSI's again. I really, really miss having that extra week of annual leave, but the numbers told me I had to opt for the QSI the past two years -- and now I'm topped out at -15, so maybe I'll get a 40-hour award next year!.
Title: Re: 2019 fire cohort
Post by: dude on September 01, 2017, 07:48:39 AM
A $40k pension would certainly be enough to allow me to sleep soundly every night.

I would value that at $800K in my stash. That's pretty nice to have.

I've got one coming in 2019 that's considerably more than that, and I'm hoping to have $800k invested on top of it.  It's a LOT of money, I know, but I will be retiring with a mortgage, so there's that.
Title: Re: 2019 fire cohort
Post by: dude on September 01, 2017, 07:54:24 AM
What the heck is going on here?  :)  Will there be any of us left in 2019?   

TartanTallulah -- Love your quote about giving your career a hug and sending it to the landfill.  Those are my plans as well.

I'll be here until May 7, 2019, when I hit retirement eligibility in my job. Then I'm gooooooooone.
Title: Re: 2019 fire cohort
Post by: Cornbread OMalley on September 01, 2017, 10:59:55 AM
...I will be retiring with a mortgage, so there's that.
I will most likely be in a situation similar to yours!
Title: Re: 2019 fire cohort
Post by: markbike528CBX on September 01, 2017, 12:17:30 PM
Most Righteous Alias Age at
FIRE
Target
Date
Date Confirmed


zinnie35Feb-19
MissNancyPryor50Mar-19
Roboturner30Mar-19
TartanTallulah55Mar-19
Luck1241Apr-19
albireo1361May-1-19
Livingthedream5559May-19
cerat0n1aMay-19summer 2018 planned
dude54May-19
SamIAm3829May-19
oldtoyotaJun-19
Itchyfeet47Jun-19
PhilB53Jun-19
Bateaux50Jun-19
CryingInThePool44Jun-19
powersuitrecall47Jul-19
Enigma39Jul-19
Thedividebyzero45Jul-19
Trifele52Aug-19
Cornbread OMalley42Aug-19
RetirementDreamingSep-19
VoteCthulu39Oct-19
trix7643Oct-19
MoMan55Oct-19
markbike528CBX55Dec-19 OLY 5-2018 but checking in as OP
HBFI38Dec-19
luckyme1345Dec-19
moxieDec-27-19
ParizadeTBD
madamwitty36TBD
Lowerbills40TBD
Chrissy42TBD
GerardTBD
getoutsoon52TBD
ysette938late-19TBD
elaine amj40TBD
IplawyerTBD
ChairmanTBD-SemiFire 2018
2Birds1StoneTBD
FIRE 20/20TBD
Title: Re: 2019 fire cohort
Post by: markbike528CBX on September 01, 2017, 12:25:40 PM
I made a command decision this summer. No more working summers. So I'll bail out of the job before Memorial Day 2018. 

"I would say it is your first command decision".
http://www.voyager.cz/tng/epizody/034matterofhonortrans.html


Oddly, one of the things that made me reluctant to bail early was the fact that I'm the OP of this thread.

Wait, the OP of the 2019 thread is bailing for the 2018 thread?  This is a major coup for the 2018 group and must leave a bitter taste in the mouths of the 19ers!  It's sort of like that time Brett Favre left Green Bay and played for the Vikings.

That is hilarious.  NO one has ever mentioned me and Mr. Favre in the same paragraph before.   I was going to ask him for advice on how to handle the stress, but I figured he still has flacks to shield him from the proles.   I gave up football (American) after I realized that 139lb centers are not long for this world. The first string nose tackle I had to deal with was fully 100lbs heavier than I, and he was trying to cut weight for wrestling season.
Title: Re: 2019 fire cohort
Post by: Cornbread OMalley on September 05, 2017, 07:47:21 AM
I found this article the other day on Rockstar Finance that I thought was interesting.  I'm currently halfway through a 30-day break as I am transitioning between jobs.  Thus far I'm not doing much of anything while at home during this break, and I am actually finding it very, very relaxing.

https://moneyqanda.com/retirement-rehearsal/
Title: Re: 2019 fire cohort
Post by: dude on September 05, 2017, 08:34:08 AM
Most Righteous Alias Age at
FIRE
Target
Date
Date Confirmed


zinnie35Feb-19
MissNancyPryor50Mar-19
Roboturner30Mar-19
TartanTallulah55Mar-19
Luck1241Apr-19
albireo1361May-1-19
Livingthedream5559May-19
cerat0n1aMay-19summer 2018 planned
dude54May-19
SamIAm3829May-19
oldtoyotaJun-19
Itchyfeet47Jun-19
PhilB53Jun-19
Bateaux50Jun-19
CryingInThePool44Jun-19
powersuitrecall47Jul-19
Enigma39Jul-19
Thedividebyzero45Jul-19
Trifele52Aug-19
Cornbread OMalley42Aug-19
RetirementDreamingSep-19
VoteCthulu39Oct-19
trix7643Oct-19
MoMan55Oct-19
markbike528CBX55Dec-19 OLY 5-2018 but checking in as OP
HBFI38Dec-19
luckyme1345Dec-19
moxieDec-27-19
ParizadeTBD
madamwitty36TBD
Lowerbills40TBD
Chrissy42TBD
GerardTBD
getoutsoon52TBD
ysette938late-19TBD
elaine amj40TBD
IplawyerTBD
ChairmanTBD-SemiFire 2018
2Birds1StoneTBD
FIRE 20/20TBD

TECHNICALLY, I'll still be 53!  But I'll turn 54 three weeks after I retire, so you know, whatever.
Title: Re: 2019 fire cohort
Post by: moxie on September 05, 2017, 03:39:43 PM
I'll be 59. :-)
Title: Re: 2019 fire cohort
Post by: Bateaux on September 05, 2017, 09:05:35 PM
Dude,  I turn 50 next year. I'll be 51 right after the target day of 6/1/19.   If I stay for company health insurance it's 2023 and 55.  That's why I'm a fan of the current ACA.  If it goes, I'm not sure what to do.
Title: Re: 2019 fire cohort
Post by: FIRE 20/20 on September 05, 2017, 09:28:16 PM
dude, you can put me down for 42 and April 2019.  The date is a guess.  We could pull the plug in 2018 if we decide that the our safety margin is already more than sufficient or we'll plan on doing a little consulting, or we could delay back to 2020 if the markets collapse.  Zero growth between now and early 2019 should get us to a 3.5% withdrawal rate for our planned spending.  I'm guessing April because money earned in the beginning of the year is taxed at a lower marginal rate. 
Title: Re: 2019 fire cohort
Post by: Vegasgirl on September 18, 2017, 11:30:51 AM
So after much calculating on my part I'm moving myself up from Sept 1, 2019 to April 1, 2019.   I'm 99.9% I'll be able to swing it a little earlier than I originally planned.
Title: Re: 2019 fire cohort
Post by: MoMan on September 18, 2017, 03:02:47 PM
An extra 5 months of freedom sounds good to me!
Title: Re: 2019 fire cohort
Post by: itchyfeet on September 30, 2017, 09:31:28 AM
September over and a month closer to freedom.

We Saved almost exactly 50% of our salaries, which is what we aim for. Unfortunately, we had a month of smallish returns on our investments, which followed on from negative returns last month but still we have clawed our way back to where we were at 31 July. 😕

After 75% of the year we have achieved 83% of the net worth growth I targeted for 2017 at the beginning of the year. In fact, the net worth growth we have had this year is pretty mind blowing so definitely no complainy pants moaning.

September saw us finally make the decision that we won't be FIREd at June next year. There is a small chance of a mini FIRE but if we take that route we will be back at work 6 months later.

To kill the indecisiveness we just  decided to push our "number" 10% higher to cater for the purchase of a home in a more expensive location, which could become an extra contingency to draw on down the line.

So, instead of being 90% of the way to FIRE we have slipped back to 82% of the way there and we are back to targeting to wind our working lives in June 2019.

Title: Re: 2019 fire cohort
Post by: Half Stached on September 30, 2017, 01:33:32 PM
Hello, class of 2019!

I've seen that you've been losing some members to the class of 2018, so I thought I might shore up your numbers - I'm coming over from the class of 2020.

Here's where we're at:

7/15: 41.6% FI
10/15: 40.1%
1/16: 45.6%
4/16: 50.4%
7/16: 53.7%
10/16: 60.7%* (due to reducing expenses and better modeling, we reduced our FI target from 1.8million to 1.7)
1/17: 63.5%
4/17: 75.3%
7/17: 44.4* (Condo purchase. FI target reduced from 1.7million to 1.3, not including condo.)
10/17: 50.6%

With the condo purchase, we've raised our annual savings rate to 75% (no rent or mortgage payments). On the other hand, work has become quite a bit more stressful. Even though we're tracking toward 2020 for our target, I've decided I'm going to be done on 4/1/2019 (after annual and long term bonuses payout). Worst case scenario I'll need to find a part time side gig at some point.
Title: Re: 2019 fire cohort
Post by: TartanTallulah on September 30, 2017, 01:54:54 PM
Eighteen paychecks to go ... eighteen paychecks to go ... tra-la-la-la-la :-)

Or maybe nine. No fewer than nine. I've promised myself that I'll stick it out at least until June 2018 and anything after that is a bonus. If it looks like I'm at risk of losing next summer to work after losing the last three, I'm gone. But I'd quite like to have replaced myself in some form in my workplace before I go. I'm pushing that as hard as I can without letting my intentions slip out. It would be easy to grow the business enough to accommodate an additional part-timer, and one of my current colleagues and I would both be happy to drop to two days a week if we had someone who wanted full-time.

Our savings rate is ticking along nicely at just over 50% of our take-home pay plus whatever is lopped off my pay at source for my final salary pension. At some point in the near future I should get an additional payment. Last year it was enough to cover most of the cost of a new car (this wasn't frivolous, it was to replace a falling-apart car). This year most of it will go towards our savings and investments, the kids will get some, and if it's above a particular amount I have in mind we're having some jam today in the form of a skiing trip.

I still haven't got over the excitement of discovering that I don't have to work forever.
Title: Re: 2019 fire cohort
Post by: Trifele on October 01, 2017, 02:44:16 AM
Welcome aboard, Fire2020 and Half Stached!  2019 is going to be an excellent year. 

September was a great month ....  If the market stayed like this I could bump our FIRE date from 8/1/19 to something like 2/1/19, but I am going to play it safe and just plan on the extra six months.   
Title: Re: 2019 fire cohort
Post by: SpreadsheetMan on October 03, 2017, 12:31:00 PM
Joining up - The die is cast for me. My company sale completed yesterday and I am now FI, but I have an earn-out period to complete to finalise the stash and retire with honour.

I expect it will be 27th Sept 2019 or around there depending on remaining holiday. I will be 57, so 10 years before UK state pension.

Happy day :-)
Title: Re: 2019 fire cohort
Post by: Linea_Norway on October 04, 2017, 02:30:29 AM
Eighteen paychecks to go ... eighteen paychecks to go ... tra-la-la-la-la :-)

That is impressive. I understand your happiness.

I think I still have 27 paychecks to go. Then we are talking December 2019 and I will be 46 at that time. Please let that be true...
Title: Re: 2019 fire cohort
Post by: Zoot on October 04, 2017, 05:40:03 AM
Posting to follow and cheer on the Class of 2019 (and secretly hoping, just maybe, to join in).
Title: Re: 2019 fire cohort
Post by: Trifele on October 04, 2017, 06:44:26 AM
Dude or Mark -- Can you please add the three new folks to the spreadsheet?  Fire2020, HalfStached, and Spreadsheet Man -- thanks
Title: Re: 2019 fire cohort
Post by: Cornbread OMalley on October 05, 2017, 11:42:27 AM
I'm settling into a new job and FIRE timeline is still on track while my net worth recently passed $1.3 million.  $760K of that is accounts that I can use now.  The rest is locked in tax-advantaged accounts that I can't touch until age 59.5.  That market is cooking and has added the incredible surge on my bottom line in the past year.  However, I'm steeling myself for the inevitable market peak and downtrend.  The strategy I'm following to deal with this inevitable event is building up my cash reserves to around 24 months of living expenses to withstand the downturn.  Current cash reserves is $34K, and I think around $80K is enough to provide cushion and financial flexibility.  The second part of the strategy is to just keep contributing to my accounts for the next 12 months and reassessing.

If the downtrend occurs within the next two years I will be okay because the paycheck is still coming in.  And I hope I can ride the uptrend into FIRE.  If the downtrend occurs after I FIRE then I pull out the cash cushion.
Title: Re: 2019 fire cohort
Post by: tipster350 on October 05, 2017, 12:01:02 PM
I'm settling into a new job and FIRE timeline is still on track while my net worth recently passed $1.3 million.  $760K of that is accounts that I can use now.  The rest is locked in tax-advantaged accounts that I can't touch until age 59.5.  That market is cooking and has added the incredible surge on my bottom line in the past year.  However, I'm steeling myself for the inevitable market peak and downtrend.  The strategy I'm following to deal with this inevitable event is building up my cash reserves to around 24 months of living expenses to withstand the downturn.  Current cash reserves is $34K, and I think around $80K is enough to provide cushion and financial flexibility.  The second part of the strategy is to just keep contributing to my accounts for the next 12 months and reassessing.

If the downtrend occurs within the next two years I will be okay because the paycheck is still coming in.  And I hope I can ride the uptrend into FIRE.  If the downtrend occurs after I FIRE then I pull out the cash cushion.

We are on a similar track. My NW is a little lower and my accounts are a little higher, but it washes out to be similar enough. I have the cash now and am funneling the rest to retirement accounts. I have enough to last me until 59.5 if need be.
Title: Re: 2019 fire cohort
Post by: Eric on October 05, 2017, 12:29:02 PM
This market is nuts.  I've already passed my 2019 goal.  Don't worry though peeps, I'm still holding out until then to celebrate with you.
Title: Re: 2019 fire cohort
Post by: Cornbread OMalley on October 06, 2017, 12:25:11 AM
Well, as soon as I post my comment the market surges more and overall fear of a market correction is at an all time low.  Nonetheless, I will stick with my aforementioned strategy.
Title: Re: 2019 fire cohort
Post by: VoteCthulu on October 06, 2017, 07:40:29 AM
When the news stops calling the rising market a bubble, then you know we're in a bubble.
Title: Re: 2019 fire cohort
Post by: Eric on October 06, 2017, 09:48:51 AM
When the news stops calling the rising market a bubble, then you know we're in a bubble.

I haven't gotten any stock tips from my shoeshine boy yet, so at the moment I think we're okay.
Title: Re: 2019 fire cohort
Post by: PhilB on October 06, 2017, 10:52:14 AM
Well, as soon as I post my comment the market surges more and overall fear of a market correction is at an all time low.  Nonetheless, I will stick with my aforementioned strategy.
I'm finding sticking to my strategy of hanging on to mid 2019 is getting harder and harder.  These stock valuations are not helping.  The variance between actual and budget when I did the numbers today is up to about 19 months worth of spending.  Add in the fact that my 2019 spending plan is based on a 3.6% withdrawal rate and also has about a 30% safety margin over what we are currently spending as a family of 4 and large parts of my brain are screaming JFDI!
Title: Re: 2019 fire cohort
Post by: markbike528CBX on October 06, 2017, 02:40:16 PM
When the news stops calling the rising market a bubble, then you know we're in a bubble.

I haven't gotten any stock tips from my shoeshine boy yet, so at the moment I think we're okay.
You _have_ a shoeshine boy?   The Antimustachian shame :-)   But yes, when you start getting smart stocktips from unlikely sources (mom, dad, taxi drivers, etc) then we'll worry more.
Title: Re: 2019 fire cohort
Post by: Cornbread OMalley on October 06, 2017, 09:12:58 PM
I'm finding sticking to my strategy of hanging on to mid 2019 is getting harder and harder.  These stock valuations are not helping.  The variance between actual and budget when I did the numbers today is up to about 19 months worth of spending.  Add in the fact that my 2019 spending plan is based on a 3.6% withdrawal rate and also has about a 30% safety margin over what we are currently spending as a family of 4 and large parts of my brain are screaming JFDI!
Do it!  :-D
Title: Re: 2019 fire cohort
Post by: LadyMaWhiskers on October 07, 2017, 10:34:04 AM
Posting to follow.

I expect to pay off my mortgage in. 2019, which will results in FI!
Title: Re: 2019 fire cohort
Post by: Cornbread OMalley on October 09, 2017, 11:19:24 AM
Yesterday I realized that I was so focused on building cash reserves that I totally forgot about accounting for my pension.  In 2019 I'm eligible for a pension worth $40K annually after taxes.  That $40K will be divided into 12 equal monthly payments, and payments start immediately after separation from the military.  This takes a little pressure off of building the cash reserves to $80K and also gives me flexibility to use my cash reserves for other things.  I will need a new vehicle in the coming years as my current one is now at 228K miles.  It's still running, but I need to have a plan and cash in place when it sputters and dies.  The cash reserves can also be used for a home down payment.
Title: Re: 2019 fire cohort
Post by: Bateaux on October 09, 2017, 11:48:48 AM
Yesterday I realized that I was so focused on building cash reserves that I totally forgot about accounting for my pension.  In 2019 I'm eligible for a pension worth $40K annually after taxes.  That $40K will be divided into 12 equal monthly payments, and payments start immediately after separation from the military.  This takes a little pressure off of building the cash reserves to $80K and also gives me flexibility to use my cash reserves for other things.  I will need a new vehicle in the coming years as my current one is now at 228K miles.  It's still running, but I need to have a plan and cash in place when it sputters and dies.  The cash reserves can also be used for a home down payment.

!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Title: Re: 2019 fire cohort
Post by: itchyfeet on October 09, 2017, 11:19:16 PM
+1.

How can anybody who is seriously following their finances just forget that they have a $40K pension, which is most likely oneís main retirement asset!!

Facepunch!!!!!
Title: Re: 2019 fire cohort
Post by: TartanTallulah on October 10, 2017, 03:23:31 PM
Yesterday I realized that I was so focused on building cash reserves that I totally forgot about accounting for my pension.  In 2019 I'm eligible for a pension worth $40K annually after taxes.  That $40K will be divided into 12 equal monthly payments, and payments start immediately after separation from the military.  This takes a little pressure off of building the cash reserves to $80K and also gives me flexibility to use my cash reserves for other things.  I will need a new vehicle in the coming years as my current one is now at 228K miles.  It's still running, but I need to have a plan and cash in place when it sputters and dies.  The cash reserves can also be used for a home down payment.

You FORGOT the small matter of $40,000 a year? Indulgent eyeroll.

I'm now scratching around the corners of my brain in the hope that I've forgotten something like that too.
Title: Re: 2019 fire cohort
Post by: Half Stached on October 10, 2017, 08:13:38 PM
I'll admit that during the first few months of reading MMM I regularly found both hidden sources of funds and expenses. I never found anything as large as 40k/yr but I did find things in excess of 10k!
Title: Re: 2019 fire cohort
Post by: Linea_Norway on October 11, 2017, 12:18:12 AM
I'll admit that during the first few months of reading MMM I regularly found both hidden sources of funds and expenses. I never found anything as large as 40k/yr but I did find things in excess of 10k!

Now that you name it... I have been working in the Netherlands for a year before we emigrated to Norway. Maybe I have built up some tiny financial fund there? Maybe worth investigating it, but it will never be much.

I am pretty sure that the pension from my first job in Norway doesn't generate anything. You had to contribute for minimum 3 years before you would gain any rights and I switched job before those three years had passed.
Title: Re: 2019 fire cohort
Post by: Cornbread OMalley on October 11, 2017, 01:21:38 PM
How can anybody who is seriously following their finances just forget that they have a $40K pension, which is most likely oneís main retirement asset!!

You FORGOT the small matter of $40,000 a year?
Yup.  Tunnel vision.  :-)
Title: Re: 2019 fire cohort
Post by: MoMan on October 25, 2017, 01:09:20 PM
Itís been eight weeks since I set foot in my beige, corporate jail cell. On Friday, August 25, my colleagues and I left our building as usual, laptops in tow with perhaps a few extra office items that would allow us to work remotely from home for a couple of days the following week: Hurricane Harvey was expected to make landfall the following day, making its way north toward Houston by Saturday night, reducing to a slow moving tropical storm.

You likely saw consequences of the storm on TV. My own house, which is maybe 150 yards from one of the bayous that floods my neighborhood regularly, was spared. My wife and I walked over to the bayou during the height of the storm and watched a Coast Guard helicopter plucking people from an apartment complex a couple hundred yards away. By some stroke of luck, I bought a very reasonably priced house on the highest street in the neighborhood about 20 years ago. My only consequence has been survivor guilt as I watch neighbors repeatedly pile their ruined belongings on the curb.

As for my 14-story office building, it too is next to a different bayou, and the normally placid stream turned into a swollen river that day Ė and stayed that way for a couple of weeks. Water poured into the basements in multiple buildings across the corporate campus. Everything on the first floors was scrapped. Elevator equipment, generators, computer storage rooms and more trashed. The buildings have not had power in weeks and are sealed off to everyone but the army of contractors hired to rip out the ruined and start replacing. The current prediction is we will return to our building sometime next month (booo), but I have my doubts.

I have to hand it to my company for assigning virtually everyone a laptop with the requirement that we haul them home nightly. Itís part of our business continuity plan (BCP). And itís working Ö so well that we are being held up as a BCP model for other parts of our global company.

Now Iím not one to revel in destruction, but I do admit to enjoying one side effect: working from home. Itís like a mini-sabbatical. No commute. No annoying co-workers. No dress code. I view it as a preview of my retirement (now officially less than 2 years away!!). Iím not usually that busy, so Iíve had ample time to channel my downtime into nonproductive pursuits. Like binge-watching Breaking Bad. Or prepping my sailboat for a weekend cruise. Or building my wifeís Halloween costume. And Iím loving it!! 

At any rate, the past 8 weeks have really flown by. As an additional bonus, the humid Houston weather has finally given way to fall. Itís dry and cool out, so I open the windows and let the breeze blow through. I rarely drive my car. Except for my sailing trip, Iíve only filled my carís 13-gallon tank once since the hurricane. My wife is pleased with her stay-at-home hubby because I empty the dishwasher, am home to deal with the plumber, keep the trash and compost managed, etc. Yes, it will soon come to an end, but itís a wonderful carrot to dangle in front of me and keep me motivated for the next 23 months.
Title: Re: 2019 fire cohort
Post by: itchyfeet on October 31, 2017, 02:53:39 AM
So thatís October done with and my net worth continues to surge upward.

Finally the Australian sharemarket provided some growth, which more than offset a small decline in my property values. International shares continued to perform strongly for me, helped along by a weakening of the AUD during the month (I follow my stash in AUD).

After 10 months of 2017, I have now achieved the targeted NW growth I had set as an objective at the beginning of the year, and there are still 2 months to go.

My stash has generated returns of 10.3% pa for 2017, and if this rate of return holds for the last 2 months of the year then it will be the third year running that my stash has generated double digit returns (average across all asset classes incl cash, shares and property). Not bad when inflation is running at 1.5%.
Title: Re: 2019 fire cohort
Post by: PhilB on November 01, 2017, 07:57:39 AM
After 10 months of 2017, I have now achieved the targeted NW growth I had set as an objective at the beginning of the year, and there are still 2 months to go.
Yep, market returns have been crazily good.  My stash now stands at where it was forecast to be at the start of Dec 2018.  I think it's even more impatient to reach the finish line than I am!
Title: Re: 2019 fire cohort
Post by: Cornbread OMalley on November 02, 2017, 07:50:53 PM
I've developed a running list of tasks to do as I wind my way towards FIRE:

1.  Notify my boss around spring 2018 of my intent to submit my formal request to retire
2.  Conduct an analysis of locations to move to upon retirement
3.  Figure out health care costs
4.  Figure out if I want to go back to school
Title: Re: 2019 fire cohort
Post by: itchyfeet on November 02, 2017, 10:19:46 PM
June 2019 still feels along way away to me.
Title: Re: 2019 fire cohort
Post by: Linea_Norway on November 03, 2017, 09:41:32 AM
After 10 months of 2017, I have now achieved the targeted NW growth I had set as an objective at the beginning of the year, and there are still 2 months to go.
Yep, market returns have been crazily good.  My stash now stands at where it was forecast to be at the start of Dec 2018.  I think it's even more impatient to reach the finish line than I am!

Will you do anything with your stash when it reaches the finish line? Move it into bonds? Or just leave where it is and start making the yearly withdrawels.
Title: Re: 2019 fire cohort
Post by: Thedividebyzero on November 03, 2017, 05:54:42 PM
Same here.  My target is July 2019.  21 months to go.

(http://)
June 2019 still feels along way away to me.
Title: Re: 2019 fire cohort
Post by: PhilB on November 04, 2017, 01:38:32 AM
Yep, market returns have been crazily good.  My stash now stands at where it was forecast to be at the start of Dec 2018.  I think it's even more impatient to reach the finish line than I am!

Will you do anything with your stash when itvreaches the finish line? Move it into bonds? Or just leave where it is and start making the yearly withdrawels.
There's not much I can do with it as I want it to provide inflation proofed income in perpetuity - we need to plan for a 40+ year retirement and hope to pass it on to the kids after that.  Equities (and maybe property) are the only thing that have a hope of achieving that, so the great bulk will just stay in global equity trackers.  We will eventually have DB and State pensions that will more than cover our core spending so can afford a lot of short term volatility.  To take the place of those pensions in the years before they come on line I have a big chunk in a diversified assets fund that I accumulated as it was the default setting for my work pension scheme and, at the time,  I didn't know better!
Title: Re: 2019 fire cohort
Post by: PhilB on November 04, 2017, 01:40:37 AM
Same here.  My target is July 2019.  21 months to go.

(http://)
June 2019 still feels along way away to me.
+1  The only way I cope is by breaking it up into smaller chunks.  Only 7 weeks to Xmas!
Title: Re: 2019 fire cohort
Post by: itchyfeet on November 04, 2017, 04:23:51 AM
Same here.  My target is July 2019.  21 months to go.

(http://)
June 2019 still feels along way away to me.
+1  The only way I cope is by breaking it up into smaller chunks.  Only 7 weeks to Xmas!

Exactly!! And between now and then I will take a 1 week vacation.
Title: Re: 2019 fire cohort
Post by: 2Birds1Stone on November 04, 2017, 06:09:53 AM
Hi 2Birds1Stone,

Welcome! Of course we won't kick you out! Sometimes being in the cohort and setting a time-related goal can be an additional motivating factor. Who knows what is possible for you in the next two years? Have you ever done a case study? Any chance you can increase income/reduce expenses?

We are here to cheer you on!

: 0 )

Hello there.

I don't think I've ever done a formal case study, BUT I lay out my income, expenses, and assets around the 1st of the month in my journal, super consistently over the past 26 months.

For 2015 my savings rate was 76.25%
For 2016 my savings rate was 80.65%
For 2017 my savings rate will be anywhere between 60-80%

My income is very unpredictable. I am in B2B sales and my base salary makes up a small portion of that income. I should *knock on wood* be in the 70-80% range for 2017. My expenses are fairly low, projected to be $24k all in for 2017.

Welp, 2017 is going to be a much lower income than 2016 was, and 2018 is not looking very bright as I just changed jobs into a role that is not working out, which means I'll likely be starting over with current employer or looking at the competitors.

I'm still reading everyone's progress here with the hopes that things will turn around and 2019 might even be possible in overly optimistic fantasy island.
Title: Re: 2019 fire cohort
Post by: Livingthedream55 on November 08, 2017, 02:09:34 PM
Hello peeps,

I posted this on the 2018 cohort thread also. Rumors abound of an early retirement incentive package may be in the works at my agency.  I mean, 18 months to go is nothing really but I want to FIRE so much right now!

Oh well, one day at a time!!  : 0 )
Title: Re: 2019 fire cohort
Post by: TartanTallulah on November 10, 2017, 12:04:26 AM
Having had external confirmation that my numbers work for June 2018, I'm moving to 2018. I may return if something happens to make my job tolerable enough for me to hold on till the end of that financial year, but 2019 is now OMY for me.
Title: Re: 2019 fire cohort
Post by: Trifele on November 10, 2017, 03:49:37 AM
Having had external confirmation that my numbers work for June 2018, I'm moving to 2018. I may return if something happens to make my job tolerable enough for me to hold on till the end of that financial year, but 2019 is now OMY OLY for me.

Corrected that for you -- Congratulations!!!!!
Title: Re: 2019 fire cohort
Post by: TartanTallulah on November 10, 2017, 07:24:27 AM
Having had external confirmation that my numbers work for June 2018, I'm moving to 2018. I may return if something happens to make my job tolerable enough for me to hold on till the end of that financial year, but 2019 is now OMY OLY for me.

Corrected that for you -- Congratulations!!!!!

No, 2019 would definitely be OMY now that I know I can go in 2018. Or nine more months because I wouldn't go beyond my original aspirational date of 31/3/19.
Title: Re: 2019 fire cohort
Post by: Linea_Norway on November 10, 2017, 10:42:24 AM
Hello peeps,

I posted this on the 2018 cohort thread also. Rumors abound of an early retirement incentive package may be in the works at my agency.  I mean, 18 months to go is nothing really but I want to FIRE so much right now!

Oh well, one day at a time!!  : 0 )

I hope this package is true for you. And that your boss allows you to take such a package. I also hope it fits with your 18 month plan. Otherwise you could perhaps accept is earlier and do some other work until you reach your date/sum.
Title: Re: 2019 fire cohort
Post by: Trifele on November 10, 2017, 11:22:40 AM
Having had external confirmation that my numbers work for June 2018, I'm moving to 2018. I may return if something happens to make my job tolerable enough for me to hold on till the end of that financial year, but 2019 is now OMY OLY for me.

Corrected that for you -- Congratulations!!!!!

No, 2019 would definitely be OMY now that I know I can go in 2018. Or nine more months because I wouldn't go beyond my original aspirational date of 31/3/19.

I was thinking of it like -- you will work OLY.  Either way -- congrats!
Title: Re: 2019 fire cohort
Post by: Livingthedream55 on November 13, 2017, 07:02:31 AM
Hello peeps,

I posted this on the 2018 cohort thread also. Rumors abound of an early retirement incentive package may be in the works at my agency.  I mean, 18 months to go is nothing really but I want to FIRE so much right now!

Oh well, one day at a time!!  : 0 )

I hope this package is true for you. And that your boss allows you to take such a package. I also hope it fits with your 18 month plan. Otherwise you could perhaps accept is earlier and do some other work until you reach your date/sum.

Thanks Linda!  That's my hope (to lock in the pension at the higher percentage of salary -- would be the equivalent as if I worked 5 more years) and stay for one more year perhaps (part-time and as a consultant). Usually when these opportunities become available it's this time of year. We'll see!
Title: Re: 2019 fire cohort
Post by: Cornbread OMalley on November 14, 2017, 11:07:56 PM
June 2019 still feels along way away to me.
Most of my career has been broken up into two or three year chunks at varying assignments in different geographical locations.  To me two or three years passes by very quickly.

Having had external confirmation that my numbers work for June 2018, I'm moving to 2018. I may return if something happens to make my job tolerable enough for me to hold on till the end of that financial year, but 2019 is now OMY for me.
That's great!  Congrats!
Title: Re: 2019 fire cohort
Post by: itchyfeet on November 20, 2017, 09:32:05 AM
19 months till FIRE.....my working career has lasted 334 months. This means I am 95% of the way to the finish line.
Title: Re: 2019 fire cohort
Post by: PhilB on November 20, 2017, 09:42:21 AM
19 months till FIRE.....my working career has lasted 334 months. This means I am 95% of the way to the finish line.
Now that's freaky.  I'm 334 and two thirds months into my career with 19 and a third to go.  You're just going to beat me!
Title: Re: 2019 fire cohort
Post by: itchyfeet on November 20, 2017, 10:35:25 AM
19 months till FIRE.....my working career has lasted 334 months. This means I am 95% of the way to the finish line.
Now that's freaky.  I'm 334 and two thirds months into my career with 19 and a third to go.  You're just going to beat me!

Haha, I've done a recount. Sorry 😳

I actually have worked a year less (started Feb 1991), so 322 months completed at the end of this month. 321 and 2/3 so far.

So actually only 94.5% done. Still sounds nearly done.
Title: Re: 2019 fire cohort
Post by: PhilB on November 21, 2017, 02:23:59 AM
19 months till FIRE.....my working career has lasted 334 months. This means I am 95% of the way to the finish line.
Now that's freaky.  I'm 334 and two thirds months into my career with 19 and a third to go.  You're just going to beat me!

Haha, I've done a recount. Sorry 😳

I actually have worked a year less (started Feb 1991), so 322 months completed at the end of this month. 321 and 2/3 so far.

So actually only 94.5% done. Still sounds nearly done.
Should you recount your stash as well just in case?
Title: Re: 2019 fire cohort
Post by: itchyfeet on November 21, 2017, 08:19:56 PM
Lol. Yes. Maybe when I get closer I should put a case study up to get others to count it for me.
Title: Re: 2019 fire cohort
Post by: oldtoyota on December 04, 2017, 07:46:58 PM
Still on track for June 2019. Yippee!

I need to get serious about calculating the Roth backdoor / pipeline.

Right now, I'm running my business and make good enough money working part time. I enjoy this so much that I could see continuing into "retirement" as a side hustle. If I did that, the pipeline becomes less important.

It is really nice not to worry. I have back up plans to the back up plans.


Title: Re: 2019 fire cohort
Post by: PhilB on December 05, 2017, 02:40:26 AM
Still on track for June 2019. Yippee!
Me too.  19 paycheques to go until retirement in 2019. Now how do I get that Paul Hardcastle song out of my head?
https://www.youtube.com/watch?v=hRJFvtvTGEk
Title: Re: 2019 fire cohort
Post by: itchyfeet on December 05, 2017, 07:47:27 PM
19 paychecks remaining for me too..... or maybe just 13.....

Absolutely no idea what I will fill my days with post FIRE.
Title: Re: 2019 fire cohort
Post by: PhilB on December 06, 2017, 06:16:27 AM
Absolutely no idea what I will fill my days with post FIRE.
Now that is worrying.  In my experience retired people tend to divide into those who get bored and those who can't imagine how they ever found time to go to work.  I fully expect to be in the latter camp as work really gets in the way of all the other things I want to be doing.
Title: Re: 2019 fire cohort
Post by: dude on December 06, 2017, 07:03:28 AM
When the news stops calling the rising market a bubble, then you know we're in a bubble.

I haven't gotten any stock tips from my shoeshine boy yet, so at the moment I think we're okay.

Nope, but Bitcoin just hit $12k . . .  something's gonna give.  Just hope it happens in early 2018, so I can assess the damage and figure out if 2019 still looks viable. Current 401k balance is just over $700k, split 60/40, so a 20% correction would drop me to @$616k (+ $31k more in contributions for 2018, so $646k). Would probably still retire if I were @$650k, though I'd really hoped to go with $800k.
Title: Re: 2019 fire cohort
Post by: dude on December 06, 2017, 07:09:43 AM
So is anyone else in this cohort really looking forward to Jan. 1, 2018, when you can say, "I'm retiring NEXT YEAR!!"  I sure as hell am. For now it's "I'm retiring in 17 months."  "Next year" just sounds so much better.
Title: Re: 2019 fire cohort
Post by: PhilB on December 06, 2017, 08:26:54 AM
I'm more looking forward to being able to say 'This is my last full year'!
Title: Re: 2019 fire cohort
Post by: itchyfeet on December 06, 2017, 11:58:58 AM
Absolutely no idea what I will fill my days with post FIRE.
Now that is worrying.  In my experience retired people tend to divide into those who get bored and those who can't imagine how they ever found time to go to work.  I fully expect to be in the latter camp as work really gets in the way of all the other things I want to be doing.

Yes I am a little worried.

If I donít like being FIRE Iíll get another job. But, at least Iíll have a nice long break of at least 6 months first. If I like been FIRE then great, if not weíll nobody is forcing me to be retired in my mid 40s.

I do have quite a few vague ideas of how Iíll spend my time, but with work being so all consuming I just need some time post FIRE to organise myself.

Awesome to have the option to experiment with a few things..... including experimenting with not working.

Title: Re: 2019 fire cohort
Post by: Trifele on December 06, 2017, 04:18:33 PM
Absolutely no idea what I will fill my days with post FIRE.
Now that is worrying.  In my experience retired people tend to divide into those who get bored and those who can't imagine how they ever found time to go to work.  I fully expect to be in the latter camp as work really gets in the way of all the other things I want to be doing.

Oh my god am I in Camp #2 . . . I dream all the time of having the time to do the things I love.  With that said, I do worry about two things with FIRE. I worry that I will struggle psychologically with not having money coming in -- with becoming a spender rather than a saver. And I worry (a little) that I will regret in some small way leaving my job.   This will maybe sound weird, but I am really, really good at what I do, and I wonder if I will feel sad to walk away from that chapter in my life? I get lots of recognition at work for the things I do well.  For the things I will do after FIRE -- no one will know or give a rat's ass.  :)  Not sure how much I depend on that recognition psychologically.   Probably the awesome feeling of FIRE freedom will totally overwhelm any regrets, but that's my small worry right now.

Title: Re: 2019 fire cohort
Post by: MoneyStacher on December 06, 2017, 05:19:28 PM
Put me down for Jan 2019 when my current contracting gig ends. 50, Single, no kids, no lady. 450 taxable, 465 401(k), 140 Roth = 1,055,000. Sure, I could FIRE now, but I'm scared of the market highs and losing the firehose of cash -- aaaaand I'm work from home so this gig is just too good to quit. But, what if they offer me FT? Ugh, could end up OMYing. Still put me down but may chicken out.
Title: Re: 2019 fire cohort
Post by: Linea_Norway on December 07, 2017, 05:35:39 AM

Oh my god am I in Camp #2 . . . I dream all the time of having the time to do the things I love.  With that said, I do worry about two things with FIRE. I worry that I will struggle psychologically with not having money coming in -- with becoming a spender rather than a saver. <...>

DH thinks that we can retire when we have saved up enough for normal living with a bit of margin. One option if you want to travel and spend more money, is to work for it. There would be no problem putting some hours in a consulting gig to save for an expensive journey.

I can also assure you that when my MIL retired at 50, she became very much a big saver. For many years I didn't understand it. Why would a fairly rich person behave like it is the greatest achievement to find a good bargain in a market place? But now I understand it very well.
Title: Re: 2019 fire cohort
Post by: PhilB on December 13, 2017, 10:20:00 AM
I just found an error in one of my spreadsheets :0(
With the way markets have been going lately, I have cut back on my pension contributions and I've been accumulating cash - the logic being that if the recent gains are 'real' then I've already stuffed enough in my pension, if they are illusory and a big crash is coming then I'll buy stocks when they crash.  I know this reeks of 'market timing', but I feel it's more of a permissible insurance policy in my case.
As my cash reserves have been building, I've had fun tracking my 'cashflow gap' - I have endowment policies maturing in 2019 which will see us through until we can access the pensions, so I've been tracking how many months worth of cash we have vs the gap to when those mature and getting excited as I slowly approached the point when we could, if we wished, hand in our 3 months notice and have enough cashflow to see us through.  This morning I realised that one of the policies actually matures 66 days earlier than I thought it did.  That means that our 'we could hand in our notice day' was actually two weeks ago and we missed it.  Bummer.
Title: Re: 2019 fire cohort
Post by: itchyfeet on December 13, 2017, 11:08:52 AM
I just found an error in one of my spreadsheets :0(
With the way markets have been going lately, I have cut back on my pension contributions and I've been accumulating cash - the logic being that if the recent gains are 'real' then I've already stuffed enough in my pension, if they are illusory and a big crash is coming then I'll buy stocks when they crash.  I know this reeks of 'market timing', but I feel it's more of a permissible insurance policy in my case.
As my cash reserves have been building, I've had fun tracking my 'cashflow gap' - I have endowment policies maturing in 2019 which will see us through until we can access the pensions, so I've been tracking how many months worth of cash we have vs the gap to when those mature and getting excited as I slowly approached the point when we could, if we wished, hand in our 3 months notice and have enough cashflow to see us through.  This morning I realised that one of the policies actually matures 66 days earlier than I thought it did.  That means that our 'we could hand in our notice day' was actually two weeks ago and we missed it.  Bummer.

Hah. Not the worst problem to have.
Title: Re: 2019 fire cohort
Post by: TartanTallulah on December 13, 2017, 01:31:40 PM
I just found an error in one of my spreadsheets :0(
With the way markets have been going lately, I have cut back on my pension contributions and I've been accumulating cash - the logic being that if the recent gains are 'real' then I've already stuffed enough in my pension, if they are illusory and a big crash is coming then I'll buy stocks when they crash.  I know this reeks of 'market timing', but I feel it's more of a permissible insurance policy in my case.
As my cash reserves have been building, I've had fun tracking my 'cashflow gap' - I have endowment policies maturing in 2019 which will see us through until we can access the pensions, so I've been tracking how many months worth of cash we have vs the gap to when those mature and getting excited as I slowly approached the point when we could, if we wished, hand in our 3 months notice and have enough cashflow to see us through.  This morning I realised that one of the policies actually matures 66 days earlier than I thought it did.  That means that our 'we could hand in our notice day' was actually two weeks ago and we missed it.  Bummer.

Humblebragger ;-)

Are you going to spend the pay for the extra days you didn't know you didn't need to work on something frivolous and fun?
Title: Re: 2019 fire cohort
Post by: PhilB on December 13, 2017, 02:49:21 PM

Are you going to spend the pay for the extra days you didn't know you didn't need to work on something frivolous and fun?
Do you have any idea how hard I find spending money on something frivolous nowadays?  I'm still good at having fun, but spending money on fun I now find a real challenge.  I'm still trying to stick to the June 2019 plan and all that extra cash will be a hedge against market disaster and probably end up paying off the kids mortgages in about 15 years time.  I'm just miffed at missing a meaningless milestone I'd been looking forward to.
Title: Re: 2019 fire cohort
Post by: Cornbread OMalley on December 13, 2017, 08:38:37 PM
Absolutely no idea what I will fill my days with post FIRE.
I spent 30 days of vacation this past summer and found myself content with surfing the net and lounging around.  However, I knew that I needed something with more substance when I FIRE and found an article that talked about using vacation days to do a retirement rehearsal.  After reading the article I started experimenting with new activities around the community where I live.  A lot of the experiments are volunteering in different things.  I'm hoping that poking around for a new emergent strategy will land me something I really will enjoy doing in my retirement.

https://moneyqanda.com/retirement-rehearsal/
Title: Re: 2019 fire cohort
Post by: markbike528CBX on December 15, 2017, 01:01:22 PM
 
Most Righteous Alias Age at FIRE Target DateDate Confirmed

zinnie35Feb-19
MissNancyPryor50Mar-19
Roboturner30Mar-19
TartanTallulah55Mar-19moved to 2018
HalfStached41Apr-1-19
Luck1241Apr-19
albireo1361May-1-19
Livingthedream5559May-19
cerat0n1aMay-19summer 2018 planned
dude54May-19
SamIAm3829May-19
oldtoyotaJun-19
Itchyfeet47Jun-19
PhilB53Jun-19
Bateaux50Jun-19
CryingInThePool44Jun-19
powersuitrecall47Jul-19
Enigma39Jul-19
Thedividebyzero45Jul-19
Trifele52Aug-19
Cornbread OMalley42Aug-19
RetirementDreamingSep-19
Spreadsheet ManSep-27-19
VoteCthulu39Oct-19
trix7643Oct-19
MoMan55Oct-19
markbike528CBX55Dec-19 OLY 5-2018 but checking in as OP
HBFI38Dec-19
luckyme1345Dec-19
moxieDec-27-19
ParizadeTBD
madamwitty36TBD
Lowerbills40TBD
Chrissy42TBD
GerardTBD
getoutsoon52TBD
ysette938late-19TBD
elaine amj40TBD
IplawyerTBD
ChairmanTBD-SemiFire 2018
2Birds1StoneTBD
FIRE 20/20TBD
Title: Re: 2019 fire cohort
Post by: markbike528CBX on December 15, 2017, 01:03:58 PM
Thanks to Trifele for pointing out new people to add to the list!
Title: Re: 2019 fire cohort
Post by: Half Stached on December 31, 2017, 10:52:04 AM
Happy New Year! Time for a quarterly (and annual update):

7/15: 41.6% FI
10/15: 40.1%
1/16: 45.6%
4/16: 50.4%
7/16: 53.7%
10/16: 60.7%* (due to reducing expenses and better modeling, we reduced our FI target from 1.8million to 1.7)
1/17: 63.5%
4/17: 75.3%
7/17: 44.4* (Condo purchase. FI target reduced from 1.7million to 1.3, not including condo.)
10/17: 50.6%
1/18: 56.3%

Interesting things I noticed reviewing the year:

 * We hit a 76% annual savings rate! This was due to a larger than usual annual bonus as well as buying the condo which traded rent for HOA dues + property taxes (we paid cash, so no mortgage). Buying will save us about 13K/year (and eliminate the rent increases - they've been about 10%/year around here). Last year we were at a 71% savings rate; I estimate next year at 74%.
 * We lowered our food spend by about 9%. As this is one of our spendier categories, I was happy to see us be able to make a dent here.
 * Medical was high: about 63% more out of pocket than estimated. This was partially due to my DW's cracked tooth, but even without that we were over my estimate. This surprised me as I felt that we were generally healthy this year. It is something that I need to keep a closer eye on to understand better.
 * Our investments were strong this year. Including the condo purchase as an investment that yielded 0%, we 'only' made 13.3%. On the other hand, our largest investment outside of the condo made 28.75%! (This is my 401k. Given our options, I can't get a total market index.) Another way to look at it, our investments paid us almost 172K! Last year, our investments paid us 72K.
Title: Re: 2019 fire cohort
Post by: FIRE 20/20 on December 31, 2017, 11:40:52 AM
markbike528CBX, you can put me down for an age of 42 and a planned date of May 2019. 
Title: Re: 2019 fire cohort
Post by: MoMan on January 01, 2018, 12:14:11 AM
Next year, baby!!


Itís official: I (we) retire next year. Yeah, I still have 1.75 years to go but itís still super exciting to say that.
Title: Re: 2019 fire cohort
Post by: Trifele on January 01, 2018, 03:58:48 AM
YEAH!!  This is our last full year of work!
Title: Re: 2019 fire cohort
Post by: edgema on January 05, 2018, 05:13:30 AM
Hello. After personal reflection and family deliberation over our holiday, can I please plant my flag to FIRE in March 2019. Stupidly I have agonised over being in the 2018 cohort as on many metrics we are comfortably past FIRE and fear OMY syndrome extending year after year.

However, I am a conservative person with two young kids and work in a career which is high paying but likely a one way door when I leave (particularly if I tried to return after a few years of optically being 'unemployed'). All this points to a bigger buffer both arithmetically and emotionally.

Also, I have luckily built up restricted stock in the company I work for so have very clear visibility on what it means to stick around another 15 months and because this should increase the stash by 20-25%, it feels like the cost-benefit points to keeping my head down as I am 'only' 41.

Don't say it too loudly but I also have some potentially un-Mustachian and expensive post FIRE dreams, like taking the family sailing for 18 months......
Title: Re: 2019 fire cohort
Post by: itchyfeet on January 05, 2018, 05:33:38 AM
Hello. After personal reflection and family deliberation over our holiday, can I please plant my flag to FIRE in March 2019. Stupidly I have agonised over being in the 2018 cohort as on many metrics we are comfortably past FIRE and fear OMY syndrome extending year after year.

However, I am a conservative person with two young kids and work in a career which is high paying but likely a one way door when I leave (particularly if I tried to return after a few years of optically being 'unemployed'). All this points to a bigger buffer both arithmetically and emotionally.

Also, I have luckily built up restricted stock in the company I work for so have very clear visibility on what it means to stick around another 15 months and because this should increase the stash by 20-25%, it feels like the cost-benefit points to keeping my head down as I am 'only' 41.

Don't say it too loudly but I also have some potentially un-Mustachian and expensive post FIRE dreams, like taking the family sailing for 18 months......

I am 100% with you on seeing out OMY when you are Ďonlyí 41. So many years ahead of you to live out your dreams, and an extra 20% in the stash will give you more options and less stress down the road.
Title: Re: 2019 fire cohort
Post by: edgema on January 05, 2018, 06:29:42 AM
Thanks itchyfeet. Although I have written a letter to my future self open this time next year to avoid OMY perpetuity!

I don't think I will need it though as I am feeling very confident in that date and for a number of career/pay reasons it is a good moment to step out of my job. Essentially my total pay falls by some 30% annually from then on.

Maybe it is the two weeks of holiday I have just had, but 15 months doesn't feel long and my job is not crazy hours or too stressful.

Splitting the time into manageable mental chunks (next holiday in 8 weeks) and putting a few goals in place (fitness/endurance events with friends) to make use of the time rather than watch the clock as 450 days can go very slowly if you do.
Title: Re: 2019 fire cohort
Post by: PhilB on January 05, 2018, 06:42:53 AM
I've decided to bring my 'official' date forward 5 months to end of Jan 19 as June 19 was feeling too far away.  I'm still struggling with the desire to go even earlier and may yet defect to the 2018 thread, but there aren't may of us left!
Title: Re: 2019 fire cohort
Post by: itchyfeet on January 05, 2018, 08:02:18 AM
I've decided to bring my 'official' date forward 5 months to end of Jan 19 as June 19 was feeling too far away.  I'm still struggling with the desire to go even earlier and may yet defect to the 2018 thread, but there aren't may of us left!

I also see June 2019 as an out marker. June 2018 seems a bit soon. So somewhere in between.
Title: Re: 2019 fire cohort
Post by: Livingthedream55 on January 08, 2018, 11:55:23 AM
YEAH!!  This is our last full year of work!

This is such a great way to look at this!
Title: Re: 2019 fire cohort
Post by: Linea_Norway on January 09, 2018, 04:41:43 AM
YEAH!!  This is our last full year of work!

This is such a great way to look at this!

Even though I think we will first reach FIRE in 2020, I think we also have 2018 as our last year of fulltime work. I hope we will be able to afford to take many more weeks off than in normal years in 2019. Or work only 4 days a week or so.
Title: Re: 2019 fire cohort
Post by: Trifele on January 11, 2018, 04:24:24 AM
Most Righteous Alias Age at FIRE Target DateDate Confirmed

zinnie35Feb-19
MissNancyPryor50Mar-19
Roboturner30Mar-19
TartanTallulah55Mar-19moved to 2018
HalfStached41Apr-1-19
Luck1241Apr-19
albireo1361May-1-19
Livingthedream5559May-19
cerat0n1aMay-19summer 2018 planned
dude54May-19
SamIAm3829May-19
oldtoyotaJun-19
Itchyfeet47Jun-19
PhilB53Jun-19
Bateaux50Jun-19
CryingInThePool44Jun-19
powersuitrecall47Jul-19
Enigma39Jul-19
Thedividebyzero45Jul-19
Trifele52Aug-19
Cornbread OMalley42Aug-19
RetirementDreamingSep-19
Spreadsheet ManSep-27-19
VoteCthulu39Oct-19
trix7643Oct-19
MoMan55Oct-19
markbike528CBX55Dec-19 OLY 5-2018 but checking in as OP
HBFI38Dec-19
luckyme1345Dec-19
moxieDec-27-19
ParizadeTBD
madamwitty36TBD
Lowerbills40TBD
Chrissy42TBD
GerardTBD
getoutsoon52TBD
ysette938late-19TBD
elaine amj40TBD
IplawyerTBD
ChairmanTBD-SemiFire 2018
2Birds1StoneTBD
FIRE 20/20TBD

We have a couple new people and a couple of changes . . . Does anyone know how to update a table?  I just spent half an hour trying, and managed to totally scramble it.  The updates are:  PhilB moved to 1/19, MoneyStacher added to 1/19, Edgema added to 3/19, and Fire 20/20 moved to 5/19.  I think Cerat0nia and TartanTallulah have officially bailed for the 2018 class (congrats to them!) so we can remove them.  I think Mark wants to stay on as OP.  :)

Thanks to whoever can help! 
Title: Re: 2019 fire cohort
Post by: markbike528CBX on January 11, 2018, 09:16:27 PM
Most Righteous Alias Age@fire Target DateOLY/OMY notes and eventually Date Confirmed
MoneyStacher51Jan-19
PhilB53Jan-19
zinnie35Feb-19
MissNancyPryor50Mar-19
Roboturner30Mar-19
TartanTallulah55Mar-19moved to 2018
EdgemaMar-19
HalfStached41Apr-1-19
Luck1241Apr-19
albireo1361May-1-19
Livingthedream5559May-19
cerat0n1aMay-19summer 2018 planned
dude54May-19
SamIAm3829May-19
FIRE 20/20May-19
oldtoyotaJun-19
Itchyfeet47Jun-19
Bateaux50Jun-19
CryingInThePool44Jun-19
powersuitrecall47Jul-19
Enigma39Jul-19
Thedividebyzero45Jul-19
Trifele52Aug-19
Cornbread OMalley42Aug-19
RetirementDreamingSep-19
Spreadsheet ManSep-27-19
VoteCthulu39Oct-19
trix7643Oct-19
MoMan55Oct-19
markbike528CBX55Dec-19 OLY 5-2018 at 53.5 but checking in as OP
HBFI38Dec-19
luckyme1345Dec-19
moxieDec-27-19
ParizadeTBD
madamwitty36TBD
Lowerbills40TBD
Chrissy42TBD
GerardTBD
getoutsoon52TBD
ysette938late-19TBD
elaine amj40TBD
IplawyerTBD
ChairmanTBD-SemiFire 2018
2Birds1StoneTBD
Title: Re: 2019 fire cohort
Post by: Trifele on January 12, 2018, 03:41:15 AM
Thanks, Mark!  And thanks for the tips on tables you sent in your PM.  :)

Just noticed that the class of '18 is huge!  Probably quite a few folks have been able to FIRE this year because of the crazy market returns?  Big party going on on that thread, if you haven't checked it out.  Quite inspiring to see them FIREing one by one! 

https://forum.mrmoneymustache.com/welcome-to-the-forum/2018-fire-cohort/
Title: Re: 2019 fire cohort
Post by: itchyfeet on January 12, 2018, 04:08:59 AM
Yes, we are by comparison a small but select group. Quality not quantity :-)

Title: Re: 2019 fire cohort
Post by: PhilB on January 12, 2018, 04:20:51 AM
I'm fighting the temptation to defect to FY18 too.  I just did my weekly check on my pension investments and I'm now within £6k of my budgeted number for Jun 2019.  DW is still £20k under, but cash position is £15k over Jun 19 projections.  My thoughts are changing daily and it's frankly doing my head in.
My latest thought is that, as we have major change and upheaval at work planned for this autumn, I may just retire immediately before it happens, but offer to do a little part time consulting so as to help them with the process without having to deal with the stress and crazy hours.  I'd always pictured retiring in spring / summer to enjoy the good weather though.  More importantly, if I do that which cohort should I be in? Decisions, decisions...
Title: Re: 2019 fire cohort
Post by: edgema on January 12, 2018, 05:16:33 AM
Hi PhilB,

I understand the temptation and in me it has caused me to question whether I will be an always OMY person as I am not going to let the temptation bring me into 2018. Without necessarily thinking a crash is coming it is completely rational to believe that the out-sized returns equity markets have seen means that future returns, all else equal, will not be as good for the next 5 years. Just like the MMM 'theory' would be to look through downside in markets and trust the 4% rule (oversimplification I know) once you are FIREd, the same could be said of looking through 'super' returns which are well above historical averages before you are FIREd. It just isn't the same to have your FIRE number hit with a high P/E stock market than a low one. 

It is not overly pessimistic in my view, but rational, to say that with markets going up like a rocket and 'bringing forward' future year returns, means that you want a bigger buffer.

Stay on target.... Stay on target..... STAY ON TARGET.... ARGGGH. (Star Wars reference - No being aggressive
Title: Re: 2019 fire cohort
Post by: markbike528CBX on January 12, 2018, 05:38:12 AM
...snip.....  I'd always pictured retiring in spring / summer to enjoy the good weather though.  ...snip...

As I was sitting on my patio, looking at my pool and backyard, I suddenly had the epiphany "this is my last summer working" .    I really just wanted to have a summer sabbatical, but that morphed into FIRE.

It helped that I was reading "The Power of Now".   The book states that if you don't like your current situation, then either change it or accept it fully for now ( paraphrased).
Title: Re: 2019 fire cohort
Post by: PhilB on January 12, 2018, 08:16:50 AM
Hi PhilB,

I understand the temptation and in me it has caused me to question whether I will be an always OMY person as I am not going to let the temptation bring me into 2018. Without necessarily thinking a crash is coming it is completely rational to believe that the out-sized returns equity markets have seen means that future returns, all else equal, will not be as good for the next 5 years. Just like the MMM 'theory' would be to look through downside in markets and trust the 4% rule (oversimplification I know) once you are FIREd, the same could be said of looking through 'super' returns which are well above historical averages before you are FIREd. It just isn't the same to have your FIRE number hit with a high P/E stock market than a low one. 

It is not overly pessimistic in my view, but rational, to say that with markets going up like a rocket and 'bringing forward' future year returns, means that you want a bigger buffer.

Stay on target.... Stay on target..... STAY ON TARGET.... ARGGGH. (Star Wars reference - No being aggressive
Love it!
I'm very confident I won't get stuck in OMY - my problem is that I built 3 lots of OMY into my plan to begin with and now I'm halfway through those I'm really thinking 'These are not the extra months you are looking for...'
Title: Re: 2019 fire cohort
Post by: Trifele on January 12, 2018, 08:27:47 AM

Stay on target.... Stay on target..... STAY ON TARGET.... ARGGGH. (Star Wars reference - No being aggressive

Yeah, but didn't that guy get blown up?  ;)   (Yes, I am a huge Star Wars nerd)
Title: Re: 2019 fire cohort
Post by: Bateaux on January 12, 2018, 08:32:28 AM
Hi PhilB,

I understand the temptation and in me it has caused me to question whether I will be an always OMY person as I am not going to let the temptation bring me into 2018. Without necessarily thinking a crash is coming it is completely rational to believe that the out-sized returns equity markets have seen means that future returns, all else equal, will not be as good for the next 5 years. Just like the MMM 'theory' would be to look through downside in markets and trust the 4% rule (oversimplification I know) once you are FIREd, the same could be said of looking through 'super' returns which are well above historical averages before you are FIREd. It just isn't the same to have your FIRE number hit with a high P/E stock market than a low one. 

It is not overly pessimistic in my view, but rational, to say that with markets going up like a rocket and 'bringing forward' future year returns, means that you want a bigger buffer.

Stay on target.... Stay on target..... STAY ON TARGET.... ARGGGH. (Star Wars reference - No being aggressive
Love it!
I'm very confident I won't get stuck in OMY - my problem is that I built 3 lots of OMY into my plan to begin with and now I'm halfway through those I'm really thinking 'These are not the extra months you are looking for...'

We're so close to our minimum FIRE number (2M invested, we're only 80k away) unless the crash comes soon we'll overshoot. OMY is so tempting when you're making this much money and have good benefits from working.  I'm not going to make any changes till at least my June 2019 projected date regardless of how much the stash grows from here.  August 2020 is a second possible date because a few benefits will be available at work if I last till then.  Really want to be finished at 50 and that's where 2019 takes me.  Good luck to you all.
Title: Re: 2019 fire cohort
Post by: VoteCthulu on January 12, 2018, 12:08:06 PM
I've made my 401k number thanks to the market run-up, but I'm still short on my taxable accounts.  I could just pay the extra 10% penalty until my roth pipeline gets going, but I don't mind over shooting my target a bit.

I don't feel bad sticking to my original plan, or only shortening it 6-9 months. I think if I had planned to FIRE this year I wouldn't be waiting until next year, though.
Title: Re: 2019 fire cohort
Post by: Bateaux on January 12, 2018, 01:14:44 PM
My taxables are a little shy as well.  I want to have a few years expenses in taxable before FIRE.   I'm overweight into retirement accounts.
Title: Re: 2019 fire cohort
Post by: Trifele on January 12, 2018, 04:46:01 PM
+3.  I'm too light on the taxable accounts as well.  I'm hoping to top those up in the next year and a half. 
Title: Re: 2019 fire cohort
Post by: Parizade on January 14, 2018, 11:49:01 AM
Hi Markbike, you can put me down as age 62 at FIREing on 6/21/2019
Title: Re: 2019 fire cohort
Post by: Parizade on January 14, 2018, 06:04:51 PM
Most Righteous Alias Age at FIRE Target DateDate Confirmed

zinnie35Feb-19
MissNancyPryor50Mar-19
Roboturner30Mar-19
TartanTallulah55Mar-19moved to 2018
HalfStached41Apr-1-19
Luck1241Apr-19
albireo1361May-1-19
Livingthedream5559May-19
cerat0n1aMay-19summer 2018 planned
dude54May-19
SamIAm3829May-19
oldtoyotaJun-19
Itchyfeet47Jun-19
PhilB53Jun-19
Bateaux50Jun-19
CryingInThePool44Jun-19
powersuitrecall47Jul-19
Enigma39Jul-19
Thedividebyzero45Jul-19
Trifele52Aug-19
Cornbread OMalley42Aug-19
RetirementDreamingSep-19
Spreadsheet ManSep-27-19
VoteCthulu39Oct-19
trix7643Oct-19
MoMan55Oct-19
markbike528CBX55Dec-19 OLY 5-2018 but checking in as OP
HBFI38Dec-19
luckyme1345Dec-19
moxieDec-27-19
Parizade62Jun-21-19
madamwitty36TBD
Lowerbills40TBD
Chrissy42TBD
GerardTBD
getoutsoon52TBD
ysette938late-19TBD
elaine amj40TBD
IplawyerTBD
ChairmanTBD-SemiFire 2018
2Birds1StoneTBD
FIRE 20/20TBD
added my stats
Title: Re: 2019 fire cohort
Post by: Parizade on January 14, 2018, 06:33:52 PM
Next year, baby!!


Itís official: I (we) retire next year. Yeah, I still have 1.75 years to go but itís still super exciting to say that.

This really put the "happy" in my new year too
Title: Re: 2019 fire cohort
Post by: Odiedog859 on January 14, 2018, 06:43:41 PM
No a big poster but read this forum everyday.

Current plan is retire in 5/31/19 at 62.  Could go now but like my work and we are discussing going to reduced hours for the last year.
Title: Re: 2019 fire cohort
Post by: itchyfeet on January 14, 2018, 08:36:41 PM
At a work function last night I quietly told one of my trusted colleagues that there was a good chance I would not be around this time next year. The cat is out of the bag.... Maybe he will keep it to himself, but offices need gossip to run.
Title: Re: 2019 fire cohort
Post by: oldtoyota on January 15, 2018, 08:59:18 PM
At a work function last night I quietly told one of my trusted colleagues that there was a good chance I would not be around this time next year. The cat is out of the bag.... Maybe he will keep it to himself, but offices need gossip to run.

This gave me a chuckle.
Title: Re: 2019 fire cohort
Post by: oldtoyota on January 15, 2018, 09:02:30 PM
My taxables are a little shy as well.  I want to have a few years expenses in taxable before FIRE.   I'm overweight into retirement accounts.

Yep. Our taxables are less than I would like, too. We have a good situation in that our income won't go straight to O, so it may not matter. I'll have to create some revised scenarios to take some changes into consideration.

It just hit me a few moments ago: 2019 is NEXT year. When I first joined this board, 2019 seemed so very far away.

So 18 more months if I stick to the original plan. And I like the work I'm doing through my business and can do it when and if I want, so maybe I'll keep on with it.



Title: Re: 2019 fire cohort
Post by: dude on January 17, 2018, 12:58:34 PM
My taxables are a little shy as well.  I want to have a few years expenses in taxable before FIRE.   I'm overweight into retirement accounts.

It just hit me a few moments ago: 2019 is NEXT year. When I first joined this board, 2019 seemed so very far away.


Yep, after the stroke of midnight on New Year's Eve, I said it out loud to my spouse, "I'm retiring NEXT YEAR."  Crazy. I know in the blink of an eye it will be May 7th, and I'll be able to say, "I've got less than a year until retirement." It sounds so bizarre when I say it that way. Like, the imminence is kind of scary! I know I'll have a thousand things to do, it's just that I'm realizing the time I have to get some ducks in a row prior to that date is dwindling fast!
Title: Re: 2019 fire cohort
Post by: Trifele on January 17, 2018, 01:08:02 PM
My taxables are a little shy as well.  I want to have a few years expenses in taxable before FIRE.   I'm overweight into retirement accounts.

It just hit me a few moments ago: 2019 is NEXT year. When I first joined this board, 2019 seemed so very far away.


Yep, after the stroke of midnight on New Year's Eve, I said it out loud to my spouse, "I'm retiring NEXT YEAR."  Crazy. I know in the blink of an eye it will be May 7th, and I'll be able to say, "I've got less than a year until retirement." It sounds so bizarre when I say it that way. Like, the imminence is kind of scary! I know I'll have a thousand things to do, it's just that I'm realizing the time I have to get some ducks in a row prior to that date is dwindling fast!

I'm in the same place mentally.  One day I figured out the number of paychecks I have left before I FIRE, and it's not all that many!
Title: Re: 2019 fire cohort
Post by: itchyfeet on January 17, 2018, 07:18:36 PM
My taxables are a little shy as well.  I want to have a few years expenses in taxable before FIRE.   I'm overweight into retirement accounts.

It just hit me a few moments ago: 2019 is NEXT year. When I first joined this board, 2019 seemed so very far away.


Yep, after the stroke of midnight on New Year's Eve, I said it out loud to my spouse, "I'm retiring NEXT YEAR."  Crazy. I know in the blink of an eye it will be May 7th, and I'll be able to say, "I've got less than a year until retirement." It sounds so bizarre when I say it that way. Like, the imminence is kind of scary! I know I'll have a thousand things to do, it's just that I'm realizing the time I have to get some ducks in a row prior to that date is dwindling fast!

I'm in the same place mentally.  One day I figured out the number of paychecks I have left before I FIRE, and it's not all that many!

Itís going to be an uphill battle to the finish line on many fronts.

I believe I should feel unburdened because I should no longer give a rats about my job, but instead I am feeling the weight of making the biggest financial decision of my life. Turning off the raging torrent of cashflow from a career that is at its zenith is daunting.
Title: Re: 2019 fire cohort
Post by: Trifele on January 18, 2018, 04:59:31 AM
My taxables are a little shy as well.  I want to have a few years expenses in taxable before FIRE.   I'm overweight into retirement accounts.

It just hit me a few moments ago: 2019 is NEXT year. When I first joined this board, 2019 seemed so very far away.


Yep, after the stroke of midnight on New Year's Eve, I said it out loud to my spouse, "I'm retiring NEXT YEAR."  Crazy. I know in the blink of an eye it will be May 7th, and I'll be able to say, "I've got less than a year until retirement." It sounds so bizarre when I say it that way. Like, the imminence is kind of scary! I know I'll have a thousand things to do, it's just that I'm realizing the time I have to get some ducks in a row prior to that date is dwindling fast!

I'm in the same place mentally.  One day I figured out the number of paychecks I have left before I FIRE, and it's not all that many!

Itís going to be an uphill battle to the finish line on many fronts.

I believe I should feel unburdened because I should no longer give a rats about my job, but instead I am feeling the weight of making the biggest financial decision of my life. Turning off the raging torrent of cashflow from a career that is at its zenith is daunting.

I agree.  I'm making more this year than ever, my job is non-stressful and rarely exceeds 45 hours per week, and some days I think I am crazy to pull the plug . . .  Like OldToyota, I'm in a good place because our income won't go immediately to zero, but it is still scary.
Title: Re: 2019 fire cohort
Post by: PhilB on January 18, 2018, 06:14:21 AM
Knowing when it's time to turn off the fire hose of cash has been a huge psychological issue for me too and one I've been wrestling with constantly for the past year or so.  I've finally come to a conclusion that makes me feel happy and so I'm afraid I need to drop out of the 2019 list.  I've spent too long thinking in terms of 'if I go at x time of year it will be most tax efficient because of y' and was losing sight of the fact that all those 'efficiency' drivers were immaterial compared to the actual salary for the extra / less months concerned and therefore not worth worrying about.
I have decided that, unless there is a complete market meltdown in the meantime, I will quit in Oct this year.  I have made several similar decisions about different dates over the past few months, but this one has done more than any of the others to make me feel happy so it's the one I'm going with.  I will have more than enough money, work is expected to get pretty horrid from about that date and the key driver is that if I stayed longer I would have to work through the half term holiday rather than go on holiday with the kids and I realised that was more important to me than more money was.
I may end up being asked to do a bit of consulting through into mid 2019 so the IRP may still class me as a 2019er, but I think it's time to go and apply for membership of the 2018 thread.  Best wishes to all of you and I will keep a eye on how you are all doing.
Title: Re: 2019 fire cohort
Post by: itchyfeet on January 18, 2018, 08:42:49 AM
Cheers Phil B. Fair chance I might end up 2018 too. Still throwing around ideas for 2019.
Title: Re: 2019 fire cohort
Post by: Parizade on January 18, 2018, 09:52:18 AM
Cheers Phil B. Fair chance I might end up 2018 too. Still throwing around ideas for 2019.
If there was any way I could swing it this year I would, I'll probably go back and take a look just to be sure but I don't think I can move my date up at all.
Title: Re: 2019 fire cohort
Post by: Eric on January 18, 2018, 11:42:58 AM
I was *just* wondering if any of you were considering moving up your timeline due to the recent outsized market returns.

I've personally already hit my "number" (in 2017, no less), but the only reason is due to all of the heavy lifting by Mr. Market.  Looking at current valuations, I'm pretty sure I'll end up happier when I can take a ~20% portfolio haircut without worrying a bit.  And I won't even have to work any longer.  So I'm staying the course with the original plan.  I have really started slacking off at work though...
Title: Re: 2019 fire cohort
Post by: Lews Therin on January 18, 2018, 12:11:07 PM
So you are going for a 3% SWR Eric?

(wanting to be able to take 20% haircut = 3%SWR)
Title: Re: 2019 fire cohort
Post by: Bateaux on January 18, 2018, 12:35:43 PM
It's difficult.   I woke up this morning, checked Mint.  I'm within 65k of the 2000k goal.  That first 65k was a slog.  The last 65k could be here in weeks.  Cray, Cray market these days.  Could hold out for 2020.  Won't know till I know.
Title: Re: 2019 fire cohort
Post by: Eric on January 18, 2018, 12:44:33 PM
So you are going for a 3% SWR Eric?

(wanting to be able to take 20% haircut = 3%SWR)

Kind of?  I'm actually planning a variable withdrawal rate, not a static one.  My baseline looks like it'll be around 3.5%, but my spending "floor" is around 2% of my starting balance.  My spending "ceiling" is around 4.5%.  My spending amount will fluctuate based on market returns.  This is partially because I will have the ability to decrease my expenses without really taking a lifestyle hit just by moving locations, as I plan to do the perpetual travel thing.  It's also partially because I'll need my portfolio to grow if I want to settle back in the US at some point if the travel thing ever gets old, and cutting spending when the markets are down is one of the best ways to ensure growth over time.  But of course I want to spend time in Western Europe too, so the variable spending thing seems to strike the best balance.
Title: Re: 2019 fire cohort
Post by: Lews Therin on January 18, 2018, 12:48:11 PM
So you are going for a 3% SWR Eric?

(wanting to be able to take 20% haircut = 3%SWR)

Kind of?  I'm actually planning a variable withdrawal rate, not a static one.  My baseline looks like it'll be around 3.5%, but my spending "floor" is around 2% of my starting balance.  My spending "ceiling" is around 4.5%.  My spending amount will fluctuate based on market returns.  This is partially because I will have the ability to decrease my expenses without really taking a lifestyle hit just by moving locations, as I plan to do the perpetual travel thing.  It's also partially because I'll need my portfolio to grow if I want to settle back in the US at some point if the travel thing ever gets old, and cutting spending when the markets are down is one of the best ways to ensure growth over time.  But of course I want to spend time in Western Europe too, so the variable spending thing seems to strike the best balance.

It was just to point out that if you want to be able to take a haircut, it means you are planning for an extremely safe/never ever run out of money, even if you never make another $.
Title: Re: 2019 fire cohort
Post by: Eric on January 18, 2018, 12:55:29 PM
So you are going for a 3% SWR Eric?

(wanting to be able to take 20% haircut = 3%SWR)

Kind of?  I'm actually planning a variable withdrawal rate, not a static one.  My baseline looks like it'll be around 3.5%, but my spending "floor" is around 2% of my starting balance.  My spending "ceiling" is around 4.5%.  My spending amount will fluctuate based on market returns.  This is partially because I will have the ability to decrease my expenses without really taking a lifestyle hit just by moving locations, as I plan to do the perpetual travel thing.  It's also partially because I'll need my portfolio to grow if I want to settle back in the US at some point if the travel thing ever gets old, and cutting spending when the markets are down is one of the best ways to ensure growth over time.  But of course I want to spend time in Western Europe too, so the variable spending thing seems to strike the best balance.

It was just to point out that if you want to be able to take a haircut, it means you are planning for an extremely safe/never ever run out of money, even if you never make another $.

I certainly expect to never run out of money, but I want the option to spend more in my later years, so it's not necessarily extremely safe.  A lower WR is only really safe if you plan to continue lower spending.  Right?
Title: Re: 2019 fire cohort
Post by: PhilB on January 18, 2018, 03:04:39 PM
I was *just* wondering if any of you were considering moving up your timeline due to the recent outsized market returns.

I've personally already hit my "number" (in 2017, no less), but the only reason is due to all of the heavy lifting by Mr. Market.  Looking at current valuations, I'm pretty sure I'll end up happier when I can take a ~20% portfolio haircut without worrying a bit.  And I won't even have to work any longer.  So I'm staying the course with the original plan.  I have really started slacking off at work though...
That's a very fair question. As it happens, I don't feed actual investment valuations into my retirement spending model.  That model is based on the 2014 values when I started modelling, plus contributions and a budgeted 4% real return on equities.  I do track those budget numbers against actuals in a separate spreadsheet (actuals are currently ahead of budget by about 2 years worth of spending), but I try to base my decisions on the budgeted numbers.  Although I am supposedly ignoring those 'excess' gains in all my assessments of how much I'll have in retirement, I'm not naÔve enough to think that it doesn't have some influence on my thinking and I'm sure I wouldn't have the confidence to go if I was 2 years' money behind budget instead of 2 years ahead. 
Title: Re: 2019 fire cohort
Post by: Eric on January 18, 2018, 05:03:50 PM
I was *just* wondering if any of you were considering moving up your timeline due to the recent outsized market returns.

I've personally already hit my "number" (in 2017, no less), but the only reason is due to all of the heavy lifting by Mr. Market.  Looking at current valuations, I'm pretty sure I'll end up happier when I can take a ~20% portfolio haircut without worrying a bit.  And I won't even have to work any longer.  So I'm staying the course with the original plan.  I have really started slacking off at work though...
That's a very fair question. As it happens, I don't feed actual investment valuations into my retirement spending model.  That model is based on the 2014 values when I started modelling, plus contributions and a budgeted 4% real return on equities.  I do track those budget numbers against actuals in a separate spreadsheet (actuals are currently ahead of budget by about 2 years worth of spending), but I try to base my decisions on the budgeted numbers.  Although I am supposedly ignoring those 'excess' gains in all my assessments of how much I'll have in retirement, I'm not naÔve enough to think that it doesn't have some influence on my thinking and I'm sure I wouldn't have the confidence to go if I was 2 years' money behind budget instead of 2 years ahead.

Are you even supposed to be posting in this thread anymore?  :)

That's a unique approach.  Although I guess it's just a fancy way of mentally preparing for the next downturn.  Giving yourself a haircut, so to speak.  I kind of make a mental adjustment of stuff too, so I look at my portfolio as $900k in retirement funds and $200k in "extra" money.  I know it's not 100% rational, but then again, who is?  Maybe Sol.  That's about it.
Title: Re: 2019 fire cohort
Post by: Trifele on January 19, 2018, 05:13:09 AM
Mini celebration time!  Checked our accounts yesterday, and we passed $750k, which is our "number."   :)  All contributions and gains from here until FIRE are "extra."  I feel really good about that, especially with the uncertainty around health insurance.  It'll be nice to have a bigger 'stache than I think we need.   

I have 3 things I have to do before I can pull the plug, and hitting our savings goal was #1.  Check!  #2 is pay off the mortgage (which should be gone in July), and #3 is finish cash-flowing our crazy major house renovation.   That third one is the fuzziest in terms of a completion date, but we are gunning for end of this year.   

I may be able to FIRE earlier than I had planned.  Doubt I would go this year, but maybe earlier in 2019.  Maybe spring? It'd be nice to enjoy the summer as a new FIREee.   
Title: Re: 2019 fire cohort
Post by: Eric on January 19, 2018, 10:59:36 AM
I may be able to FIRE earlier than I had planned.  Doubt I would go this year, but maybe earlier in 2019.  Maybe spring? It'd be nice to enjoy the summer as a new FIREee.   

My thoughts exactly!  Then you can ask yourself questions like "Is the air sweeter because I just FIRE'd or because it's finally summer?"
Title: Re: 2019 fire cohort
Post by: madamwitty on January 19, 2018, 02:34:58 PM
DH and I have decided to reduce our working hours now (20 hours per week, each) with the tradeoff of delaying FIRE by a year or two. I am really excited about this decision and the fact that it's even an option for us. Before, afternoons at home with me and 3 kids felt like a drag, but now with DH home with us, it feels like every afternoon is a weekend!

2019 was a "one less year" target for me, now I am feeling so much better about work - excited, even - so I don't feel like that's needed. I'm going to stick with 2020 as a target and see how things go. I think 2019 is pretty unlikely for me now, so you can take me off the list (but I say that with a smile!)
Title: Re: 2019 fire cohort
Post by: Parizade on January 24, 2018, 06:14:01 AM
I am feeling so much better about work - excited, even

I wish I felt that way. This is how I thought I would feel about my last 16 months of work
https://youtu.be/4q0-k8_90UM (https://youtu.be/4q0-k8_90UM)

this is how I actually feel
https://youtu.be/BKIgv8AhffA (https://youtu.be/BKIgv8AhffA)
Title: Re: 2019 fire cohort
Post by: edgema on January 24, 2018, 07:18:27 AM
Parizade - I really love the second link, it properly made me chuckle. It feels like such a slog no matter how much I rationalize how short a time 15 months is (well 14 months and 6 days to be precise)
Title: Re: 2019 fire cohort
Post by: TartanTallulah on January 24, 2018, 07:51:18 AM
I may be signing back on here. The thing I knew was most likely to put a spoke in my wheel for retiring in 2018 has happened. There was nothing I could have done to prevent it.

I'm at the drawing board, though, scratching away as hard as I can.
Title: Re: 2019 fire cohort
Post by: Parizade on January 24, 2018, 08:32:33 AM
Parizade - I really love the second link, it properly made me chuckle.

Humor is the only thing that helps. Well, that and the thought of fresh strawberries with cream. I'll have to make that my victory treat.
Title: Re: 2019 fire cohort
Post by: Parizade on January 24, 2018, 09:46:41 AM
I may be signing back on here. The thing I knew was most likely to put a spoke in my wheel for retiring in 2018 has happened. There was nothing I could have done to prevent it.

I'm at the drawing board, though, scratching away as hard as I can.

What a bummer Tallulah! Welcome anyway :-(
Title: Re: 2019 fire cohort
Post by: Trifele on January 24, 2018, 04:54:40 PM

This is how I thought I would feel about my last 16 months of work
https://youtu.be/4q0-k8_90UM (https://youtu.be/4q0-k8_90UM)

this is how I actually feel
https://youtu.be/BKIgv8AhffA (https://youtu.be/BKIgv8AhffA)

Loong work day today. Having a cocktail to unwind. Your videos made me laugh -- thanks!
Title: Re: 2019 fire cohort
Post by: VoteCthulu on January 24, 2018, 09:28:52 PM
Originally I was thinking 2020 would be the year, but hoping to get there a year earlier.

Can anyone planning to FIRE in 2019 share some of their numbers?  Net worth, savings rate, annual spend, invested assets (stocks and bonds), rental property & income (if any), mortgage (rate and amount left), kids?
Sure, here's where I'm at:
Net worth $805k
savings rate 58%
annual spend 40k
invested assets (stocks and bonds) $525k / $52k
rental property & income (if any) None
mortgage (rate and amount left) 3% / $105k
kids? None that I'm aware of
Title: Re: 2019 fire cohort
Post by: edgema on January 25, 2018, 01:58:59 AM
I am going to run with the theme. This is how the last year feels to me.....

https://www.youtube.com/watch?v=MTn1v5TGK_w

p.s. Whilst I am making a joke, I post this respectfully having first seen it about 8 years ago when I was doing a lot of triathlons myself. Says something of grit and determination (with a dose of complete lunacy!)
Title: Re: 2019 fire cohort
Post by: Trifele on January 25, 2018, 03:17:08 AM
I am going to run with the theme. This is how the last year feels to me.....

https://www.youtube.com/watch?v=MTn1v5TGK_w

p.s. Whilst I am making a joke, I post this respectfully having first seen it about 8 years ago when I was doing a lot of triathlons myself. Says something of grit and determination (with a dose of complete lunacy!)

Holy shite.  Hope you don't REALLY feel that way Edgema.  We will get there.  We're all crawling beside you. 

@Pizza Steve -- thanks for dropping in to offer encouragement!  Huge congratulations!
Title: Re: 2019 fire cohort
Post by: Parizade on January 25, 2018, 05:32:19 AM

This is how I thought I would feel about my last 16 months of work
https://youtu.be/4q0-k8_90UM (https://youtu.be/4q0-k8_90UM)

this is how I actually feel
https://youtu.be/BKIgv8AhffA (https://youtu.be/BKIgv8AhffA)

Loong work day today. Having a cocktail to unwind. Your videos made me laugh -- thanks!
There is light at the end!  I get my finger bit off in 2 days (2018 cohort offering encouragement)....stay strong....loved the dog sledding.  My last 30 days went fast.

Cheers Trifele! I've only budgeted $25/mo for alcohol and bars - might need to bump those numbers up LOL

PizzaSteve, CONGRATULATIONS and thanks for the encouragement. The closer I get to FIRE the further off it seems.
Title: Re: 2019 fire cohort
Post by: Parizade on January 25, 2018, 05:55:44 AM
I am going to run with the theme. This is how the last year feels to me.....

https://www.youtube.com/watch?v=MTn1v5TGK_w

p.s. Whilst I am making a joke, I post this respectfully having first seen it about 8 years ago when I was doing a lot of triathlons myself. Says something of grit and determination (with a dose of complete lunacy!)

Excellent choice of video edgema, I still have plenty of calories to burn but my motivation for work has evaporated and all my younger coworkers are zooming past me with their ambition and enthusiasm.

I've heard that my employer is offering older workers "buy outs" to encourage them to retire early in other areas of the company. Oh how I wish they would offer that to me, but no. I did too good of a job making my skill set valuable, now I'm stuck.
Title: Re: 2019 fire cohort
Post by: itchyfeet on January 25, 2018, 10:16:03 AM
Lol Awesome videos.

I had a good day at work today, and drove home dreaming that I might be able to achieve some big things this year at work and go out on a high......

But 90% of the time I feel like poor old Frodo, suffering on the slopes of an insurmountable mountain, just waiting for the end and the suffering to be over.

.....but Sometimes ......very rarely........ there is a small part of me that is subconsciously trying to give me justification to keep working. The inner gollem is today whispering ďsneaky little MMM forum, wicked, trixie, false MMM forum. They will fool you, cheat you. False!!! Lies!!! Work is your friend....the top is inĒ

Deary me, obviously completely burnt out. Haha 🤣
Title: Re: 2019 fire cohort
Post by: Parizade on January 25, 2018, 10:25:59 AM
The inner gollem is today whispering ďsneaky little MMM forum, wicked, trixie, false MMM forum. They will fool you, cheat you. False!!! Lies!!! Work is your friend....the top is inĒ

Deary me, obviously completely burnt out. Haha 🤣

Literally laughed out loud at the wicked trixie false MMM comment. I have what most would consider a cushy job, WFH earning 6 figures at tasks I would do for fun if I wasn't getting paid with people I actually like. On a good day that gollum voice nags away inside my head too. My annual review is scheduled for tomorrow, if they give me another raise and bonus (which is likely) gollum will get even louder for a while.
Title: Re: 2019 fire cohort
Post by: Eric on January 25, 2018, 11:40:58 AM
The inner gollem is today whispering ďsneaky little MMM forum, wicked, trixie, false MMM forum. They will fool you, cheat you. False!!! Lies!!! Work is your friend....the top is inĒ

Deary me, obviously completely burnt out. Haha 🤣

Literally laughed out loud at the wicked trixie false MMM comment. I have what most would consider a cushy job, WFH earning 6 figures at tasks I would do for fun if I wasn't getting paid with people I actually like. On a good day that gollum voice nags away inside my head too. My annual review is scheduled for tomorrow, if they give me another raise and bonus (which is likely) gollum will get even louder for a while.

Don't forget about The Shire and second breakfast.
Title: Re: 2019 fire cohort
Post by: Parizade on January 25, 2018, 12:19:44 PM
Don't forget about The Shire and second breakfast.

Trying hard to remember the taste of strawberries, the touch of grass, and the lights of the party tree...but 16 months seems sooooooo long to wait
Title: Re: 2019 fire cohort
Post by: TartanTallulah on January 25, 2018, 01:35:46 PM
I may be signing back on here. The thing I knew was most likely to put a spoke in my wheel for retiring in 2018 has happened. There was nothing I could have done to prevent it.

I'm at the drawing board, though, scratching away as hard as I can.

What a bummer Tallulah! Welcome anyway :-(

Thanks, Parizade :-)

I'm being Zen and stoical about it. Back to 31st March 2019 for me. It's not so very far away, and I'm sure I'll be able to find a use for an extra nine paychecks.
Title: Re: 2019 fire cohort
Post by: Parizade on January 25, 2018, 01:38:54 PM
I'm sure I'll be able to find a use for an extra nine paychecks.

You've got a great attitude Tallulah, if it was me I think I'd need to spend those extra 9 paychecks on therapy
Title: Re: 2019 fire cohort
Post by: 2Birds1Stone on January 25, 2018, 03:15:06 PM
I found out today that I will be earning my 40th SS credit on March 31st 2019, so technically if I win the lottery between now and then, I can retire =P

A more likely scenario is getting fired/laid off from my current job.

Is anyone planning a leanfire? Basically retiring on an amount that requires a WR% greater than 4% with the assumption that you will return to some sort of work, whether it's part time for a longer period, or full time for another year or two?

SO and I are currently sitting ~$460k with an annual spend of ~$48k, FU$, but not FI$. We may be able to get to $550-600k by 2019 if the market cooperates, and with slow travel/geographical arbitrage should get our spending down to $36-40k/yr which would mean a 6-7.25% WR
Title: Re: 2019 fire cohort
Post by: Bateaux on January 25, 2018, 04:53:46 PM
Less than 50k to minimum FIRE goal.  Unless the crash comes soon.  I'd wished more answers would have presented themselves by now, maybe they never will.  I doubt one more year/years will make much difference.  The easiest thing is to work till 2023 and age 55 for benefits.  Giving up 5 more years for security only guarantees I'll lose healthy time.
Title: Re: 2019 fire cohort
Post by: Trifele on January 26, 2018, 04:21:30 AM
Is anyone planning a leanfire? Basically retiring on an amount that requires a WR% greater than 4% with the assumption that you will return to some sort of work, whether it's part time for a longer period, or full time for another year or two?

Yes, sort of.  I'll be pulling the plug with a smaller 'stache than most on this thread ($750k and a paid off house).  The plan is not to touch the 'stache at all for a while, as I'll be keeping my part time side gig, which should cover expenses.   So 0% withdrawal rate.  :)   On a different thread I heard this strategy referred to as 'Coast Fire.'  Quit full time job, work a minimal amount to cover expenses, and let the 'stache work in the background.   
Title: Re: 2019 fire cohort
Post by: Trifele on January 26, 2018, 07:13:42 AM
Can anyone planning to FIRE in 2019 share some of their numbers?  Net worth, savings rate, annual spend, invested assets (stocks and bonds), rental property & income (if any), mortgage (rate and amount left), kids?

Here are our numbers, FWIW:
Net worth -- $1.2M
savings rate -- Much lower than usual because of unusual activities in the last two years, mostly cash flowing a house construction.  Would be ~60% if things were 'normal'. 
annual spend -- ~30k in a 'normal' year, not including mortgage payment which will be gone soon
invested assets (stocks and bonds) -- $750k not including kids' 529 accounts
rental property & income (if any) -- None
mortgage (rate and amount left) -- 3% / $30k
kids? -- 2.  College savings target has been met, and saved amt. is included in total NW.
Title: Re: 2019 fire cohort
Post by: itchyfeet on January 26, 2018, 11:25:07 AM
We will try and get our stash to a level that permits $70K a year spending, which will allow for 4-6 months travel per year plus a home base.
Title: Re: 2019 fire cohort
Post by: Bateaux on January 26, 2018, 01:26:18 PM
Reaching minimum investment FIRE stash soon of 2 million.   Shooting for 2.5 milion stash and potential 100k withdrawal if desired.  Living on less than that now. 
Title: Re: 2019 fire cohort
Post by: Parizade on January 29, 2018, 06:39:30 AM
Happy Monday 2019 cohort. Got this one stuck in my head today:
https://youtu.be/SsmVgoXDq2w (https://youtu.be/SsmVgoXDq2w)
Title: Re: 2019 fire cohort
Post by: honeyfill on January 29, 2018, 11:06:27 AM
 
Quote
Reaching minimum investment FIRE stash soon of 2 million.   Shooting for 2.5 milion stash and potential 100k withdrawal if desired.  Living on less than that now.

Keep going Bateaux.  It will come sooner than you think.  We have the exact same plan and we just hit 2.5M this month.  Retire date is now April 6th, 2018.
Title: Re: 2019 fire cohort
Post by: Cornbread OMalley on January 30, 2018, 09:49:16 PM
Originally I was thinking 2020 would be the year, but hoping to get there a year earlier.

Can anyone planning to FIRE in 2019 share some of their numbers?  Net worth, savings rate, annual spend, invested assets (stocks and bonds), rental property & income (if any), mortgage (rate and amount left), kids?
I'm at $1,475K in net worth; savings rate about 47% of income; annual spend about $40K; invested assets: $812K in non-retirement accounts, $551K in retirement accounts, some cash, no bonds; no rental property income; no mortgage; no kids.  I will be in very good shape if I can get my non-retirement accounts to $1 million by 2019.
Title: Re: 2019 fire cohort
Post by: itchyfeet on January 31, 2018, 07:56:37 AM
So, first month of the last full year of work is done.

How did we all go financially? I am guessing for most of you, it was a bumper month.

Things are a little different down under.
 - My real estate dropped $15K
 - Australian stocks were marginally down for the month. (Upside down compared to the rest of the world :-/ )
 - The stronger AUD v USD also dampened the growth that I might otherwise had on international stock exposures, but still I got to enjoy that party a little bit.

At least DW and I saved well. Spending in January was lower than any single month in 2017!!

We also got a little kicker from a small termination payment from DW's last employer to help offset negative total investment returns for the month.

We'll need to keep up the reined in spending to offset the deflating property market if we want to hit our "number" before we FIRE.  I hope stocks don't follow Sydney real estate downwards, but whatevs!!  Nothing will stop us taking the leap by June 2019 at the latest :-)

Net worth growth for the month was a paltry 0.05%, but still in the right direction and we are now at 21.4x desired FIRE budget (this is all in, including a notional rent charge for housing we will buy post FIRE).

If I set aside housing then things look a little more daunting as we would be at only 19.8x (investable assets: FIRE budget ex housing). Still a bit of work to be done!

...and yes, I am perfectly comfortable with 25x as a target due to the large amount of discretionary spending in the budget, and the fact that DW will insist on working a small amount. Thanks for asking :-)
Title: Re: 2019 fire cohort
Post by: dude on January 31, 2018, 11:11:41 AM
I was *just* wondering if any of you were considering moving up your timeline due to the recent outsized market returns.

I'm actually worried about the opposite! With market valuations so high, I'm worried about it continuing through this year and tanking in 2019 when I retire!  That's the one thing that might cause me to inflict myself with OMY Syndrome. Biggest fear is negative returns early in retirement.
Title: Re: 2019 fire cohort
Post by: edgema on February 01, 2018, 02:46:46 AM
Dude - Perhaps you should think about setting up your portfolio with an element of Rising Equity Glide Path. Obviously I don't know your position but if you are, sensibly IMO, worrying about the risk of big falls just after you retire then this helps reduce equity risk early on. As a minor version of this you could take out 2017 and 2018 bumper returns (if that is what happens in your example) and put that in cash/short duration bonds and plan to deploy this regularly over the next few years. That way you have the ability to deploy into cheaper equities if there is 2020 crash.   

Itchyfeet - I am a Brit so January wasn't great for me either. In theory my pound buys a more 'globally' more as it went up, but as my portfolio has lots of USD in it, my returns were not good.

Kognisjon - Numbers wise I am very conservative and looking to have £2.5m in investment assets. We are just not particularly mustachian on lifestyle so looking at a 3.5 - 4.0% payout (gasp! - how do you spend so much). I personally cannot take the uncertainty of equities (20- year career in finance / equities) so I like my rental properties (c50% stash) which churn out most of my cash flow needs, with equities (30%) providing the possible long term juice to grow wealth. The final 20% will be cash as of March next year with a view that we will regularly buy equities over the next few years to reduce the risk of a crash freaking us out, as it would if we were 90+% equities. I fear the certainty people some seem to on this forum heading into retirement on near 100% equities, confident they will be able to look past a big drawdown in years 1-3 and not getting stressed because the FIRE calculations told them it was fine. Good luck to them but that is not my personality.   

p.s. I understand the risks of property so please don't pull me up on the concentration risk / illiquidity risk / vacancy risk / understated price volatility etc. Fact is I make X every month and that works for me.

Title: Re: 2019 fire cohort
Post by: itchyfeet on February 01, 2018, 10:13:51 AM
Yeah, we wonít be 100% equities either.

We will be targeting income from

Indexed pension                                             15%
Rental income.                                                22%
Fixed interest.                                                  8%
Sub total - base spending.                               45%
Equities - discretionary/ deferrable spending.     55%

We could manage a year or 2 drawing nothing from equities. We might even reduce equities a little further yet.
Title: Re: 2019 fire cohort
Post by: Eric on February 01, 2018, 11:43:24 AM
I was *just* wondering if any of you were considering moving up your timeline due to the recent outsized market returns.

I'm actually worried about the opposite! With market valuations so high, I'm worried about it continuing through this year and tanking in 2019 when I retire!  That's the one thing that might cause me to inflict myself with OMY Syndrome. Biggest fear is negative returns early in retirement.

If the bull continues through 2018, then I'm sure it will give you enough cushion financially to absorb a crash.  I think the bigger challenge would be psychologically, could you quit if the market starts dropping at the end of 2018?  I'm not sure if I would be able to or not.  I guess it depends on how big the cushion is.  Now the waiting game begins!
Title: Re: 2019 fire cohort
Post by: moxie on February 02, 2018, 03:24:32 PM
Well, I kind of just decided to not wait any longer. I'm planning to give my notice as soon as I get my bonus (for last year) in early March. Then I'll give about a month's notice. So I'm moving over to the 2018 group.

I'll be 58 this month, so this isn't super early, but I'm still excited!



Title: Re: 2019 fire cohort
Post by: Eric on February 02, 2018, 03:34:20 PM
Well, I kind of just decided to not wait any longer. I'm planning to give my notice as soon as I get my bonus (for last year) in early March. Then I'll give about a month's notice. So I'm moving over to the 2018 group.

I'll be 58 this month, so this isn't super early, but I'm still excited!

Good riddance!

Just kidding of course.  Congrats!  That's exciting!
Title: Re: 2019 fire cohort
Post by: Trifele on February 03, 2018, 05:34:02 AM
Congrats Moxie!!   Good for you.!

Continuing with the video theme, here's how I imagine I'll feel next year:  https://www.youtube.com/watch?v=nN7tVwiwGUc

Edited to add:  If you haven't watched The Shawshank Redemption lately, you should.  The whole movie is a great metaphor for FIREing.
Title: Re: 2019 fire cohort
Post by: Eric on February 06, 2018, 11:22:28 AM
I was *just* wondering if any of you were considering moving up your timeline due to the recent outsized market returns.

I'm actually worried about the opposite! With market valuations so high, I'm worried about it continuing through this year and tanking in 2019 when I retire!  That's the one thing that might cause me to inflict myself with OMY Syndrome. Biggest fear is negative returns early in retirement.

Looks like you're getting your wish of the markets not tanking in 2019, but in 2018 instead.  Congrats!  lol
Title: Re: 2019 fire cohort
Post by: dude on February 07, 2018, 08:04:04 AM
I was *just* wondering if any of you were considering moving up your timeline due to the recent outsized market returns.

I'm actually worried about the opposite! With market valuations so high, I'm worried about it continuing through this year and tanking in 2019 when I retire!  That's the one thing that might cause me to inflict myself with OMY Syndrome. Biggest fear is negative returns early in retirement.

If the bull continues through 2018, then I'm sure it will give you enough cushion financially to absorb a crash.  I think the bigger challenge would be psychologically, could you quit if the market starts dropping at the end of 2018?  I'm not sure if I would be able to or not.  I guess it depends on how big the cushion is.  Now the waiting game begins!

Exactly right, Eric. I mean, most here would probably call me a pussy, because I'll be walking out the door with a substantial pension, so even a big drop in my retirement account shouldn't be that big of a deal. But I want to avoid tightening the belt too much -- the whole point of me retiring is to be able to do the things I want to do without worry. And the thing I most like to do -- travel to places where I can climb, surf, snowboard, and scuba dive -- cost money, even though my travels are pretty low-budget. Still in all, with the time ahead of me now being considerably shorter than the time behind me, I'm hoping I get past any market-related fear and just pull the plug anyway. Life is damn short, and I don't want to spend any more of it working doing something my heart's just not in.
Title: Re: 2019 fire cohort
Post by: dude on February 07, 2018, 08:06:17 AM
I was *just* wondering if any of you were considering moving up your timeline due to the recent outsized market returns.

I'm actually worried about the opposite! With market valuations so high, I'm worried about it continuing through this year and tanking in 2019 when I retire!  That's the one thing that might cause me to inflict myself with OMY Syndrome. Biggest fear is negative returns early in retirement.

Looks like you're getting your wish of the markets not tanking in 2019, but in 2018 instead.  Congrats!  lol

Ha! Yeah, we'll see. Had hoped this drop would continue into the 10-20% range, but looks like the market's stabilizing.
Title: Re: 2019 fire cohort
Post by: Mika M on February 12, 2018, 11:38:16 AM
Hmm... The original plan was not till at least 2024 when DH finishes up his 20 years with Reserves... but I may leave that to him and join this group :P
Title: Re: 2019 fire cohort
Post by: FrugalToque on February 15, 2018, 06:53:58 AM
Exactly right, Eric. I mean, most here would probably call me a pussy,  ...

I want to say something here about the relative durability of vaginas versus the fragility of male organs, some kind of Betty White paraphrasing, but maybe we'll just all acknowledge that vaginas are actually pretty tough and we shouldn't equate with weakness in our metaphors just because we think women are the weaker sex.

Toque.
Title: Re: 2019 fire cohort
Post by: VoteCthulu on February 15, 2018, 08:06:32 AM
Exactly right, Eric. I mean, most here would probably call me a pussy,  ...

I want to say something here about the relative durability of vaginas versus the fragility of male organs, some kind of Betty White paraphrasing, but maybe we'll just all acknowledge that vaginas are actually pretty tough and we shouldn't equate with weakness in our metaphors just because we think women are the weaker sex.

Toque.
I assume they were using the word in its "timid/passive" definition instead of referring to a vagina.
Title: Re: 2019 fire cohort
Post by: Trifele on February 15, 2018, 11:13:02 AM
Exactly right, Eric. I mean, most here would probably call me a pussy,  ...

I want to say something here about the relative durability of vaginas versus the fragility of male organs, some kind of Betty White paraphrasing, but maybe we'll just all acknowledge that vaginas are actually pretty tough and we shouldn't equate with weakness in our metaphors just because we think women are the weaker sex.

Toque.

Yeah, I have to say I read that comment the same way as Mr. Frugal Toque. . .  I know you were talking about yourself, @dude, and not someone else, but 'pussy' sounds like equating women with weakness.   
Title: Re: 2019 fire cohort
Post by: Pylortes on February 15, 2018, 12:03:06 PM
Iím joining up with this group, reclassifying from 2018 after my spouses career plans changed.  I will be targeting late May of 2019, when I will be 42!  https://www.google.com/amp/www.independent.co.uk/life-style/history/42-the-answer-to-life-the-universe-and-everything-2205734.html%3famp
Title: Re: 2019 fire cohort
Post by: Livingthedream55 on February 16, 2018, 07:45:12 AM
Iím joining up with this group, reclassifying from 2018 after my spouses career plans changed.  I will be targeting late May of 2019, when I will be 42!  https://www.google.com/amp/www.independent.co.uk/life-style/history/42-the-answer-to-life-the-universe-and-everything-2205734.html%3famp

Welcome Pylortes! I'm aiming for May also! FIREing at 42 is badass indeed! : 0 )
Title: Re: 2019 fire cohort
Post by: itchyfeet on February 19, 2018, 01:50:32 PM
So, I had my annual performance interview today.

I hate annual performance interviews, even though over the course of my career I have never had a manager who was not mostly happy, or extremely happy, with my work. This year was much the same. ďGood year itchy feet! Well done. What objectives are you setting yourself for the coming year?Ē

But, I have to say that knowing that was the final API of my career, is frigging awesome. They suck.

So, in terms of FIRE date itís now decided that we wonít be hanging around till Feb next year, but will wrap things up in December, or possibly Jan if MegaCorp begs me to stay to close out the 2019 results. Iíll stay in this cohort regardless.
Title: Re: 2019 fire cohort
Post by: Eric on February 20, 2018, 04:43:49 PM
So, I had my annual performance interview today.

I hate annual performance interviews, even though over the course of my career I have never had a manager who was not mostly happy, or extremely happy, with my work. This year was much the same. ďGood year itchy feet! Well done. What objectives are you setting yourself for the coming year?Ē

But, I have to say that knowing that was the final API of my career, is frigging awesome. They suck.

So, in terms of FIRE date itís now decided that we wonít be hanging around till Feb next year, but will wrap things up in December, or possibly Jan if MegaCorp begs me to stay to close out the 2019 results. Iíll stay in this cohort regardless.

Hahahaha.  I'm currently in the process of writing my self-review, which of course I loathe.  It's just so painful to come up with new things, year after year.  So instead of finishing it, I'm surfing the forums instead, hoping it will just go away.  Soon enough I guess, soon enough.

I'm not sure if this will be the last one or not, but it's likely the last one where I have to pretend that I'm not quitting soon.

"what are your 5 year goals?"

"trust me, you don't want to know"
Title: Re: 2019 fire cohort
Post by: 2Birds1Stone on February 21, 2018, 08:07:24 AM
I found out today that I will be earning my 40th SS credit on March 31st 2019, so technically if I win the lottery between now and then, I can retire =P

A more likely scenario is getting fired/laid off from my current job.

Is anyone planning a leanfire? Basically retiring on an amount that requires a WR% greater than 4% with the assumption that you will return to some sort of work, whether it's part time for a longer period, or full time for another year or two?

SO and I are currently sitting ~$460k with an annual spend of ~$48k, FU$, but not FI$. We may be able to get to $550-600k by 2019 if the market cooperates, and with slow travel/geographical arbitrage should get our spending down to $36-40k/yr which would mean a 6-7.25% WR

Spent a good amount of time over the past month considering this scenario more seriously. Have been drawing more inspiration from the "Semi Retirement VS. Serial Mini Retirements" thread. Right now a gap year is planned for April 1 2020, but could possibly do it sooner if the courage is there.
Title: Re: 2019 fire cohort
Post by: Lews Therin on February 21, 2018, 10:29:28 AM
I recommend the rarely seen "gap decade" for 2020.

I will attempt the gap bi-centennial. I'll promise the military I'll come back in 50 years.
Title: Re: 2019 fire cohort
Post by: 2Birds1Stone on February 21, 2018, 11:11:40 AM
I recommend the rarely seen "gap decade" for 2020.

I will attempt the gap bi-centennial. I'll promise the military I'll come back in 50 years.

Gap decade sounds awesome, but going back to work in mid 40's does not =(
Title: Re: 2019 fire cohort
Post by: itchyfeet on February 28, 2018, 02:52:06 AM
Woop woop, another month comes to a close. 10 more months remaining and I am done. 7 more months until I had in my notice. This time will go fast no doubt.

February was a little exciting with share markets more volatile than in recent times, but in the end a lot of noise and not much else.

My net worth growth continued to creep upwards, very slowly.

Growth is being hampered by declining property values in Sydney (another $12K AUD in Feb alone) and a flat Aussie share market.

During Feb the carrying value of international shares was helped by a softening AUD. The FX gain offset the underlying share value losses. Without this positive FX impact the results for Feb would have shown a small net worth decline rather than a small net worth increase.

My saving rate for Feb was also a little lower than Id like at 45% (We are targeting >50% for the year) due to some maintenance costs to one of our rental properties and agents fees I incurred to find a new tenant. Thankfully I was able to secure a new tenant with just a 1 week vacancy between tenants.

Our FIRE multiple is now 21.4x, compared to 21.3x last month. Not exactly making big moves haha.

We wont be at 25x when we FIRE in December (never hoped to be), maybe 23x-24x, but expect to earn some casual income post FIRE. We could also always reduce our planned spending easily enough if need be.
Title: Re: 2019 fire cohort
Post by: Trifele on February 28, 2018, 03:47:49 AM
So glad to see February end!  It's been a rough month at work, with office politics and other nonsense that will make it oh-so-easy to say goodbye.

Speaking of goodbye, I was originally down for August 1 of next year, but have decided to pull the plug earlier.  I'm now planning to hand in my notice beginning of January for an April 1 departure.  Very excited that this will be the last spring I have to spend indoors chained to a desk.     
Title: Re: 2019 fire cohort
Post by: Livingthedream55 on February 28, 2018, 06:35:12 AM
So glad to see February end!  It's been a rough month at work, with office politics and other nonsense that will make it oh-so-easy to say goodbye.

Speaking of goodbye, I was originally down for August 1 of next year, but have decided to pull the plug earlier.  I'm now planning to hand in my notice beginning of January for an April 1 departure.  Very excited that this will be the last spring I have to spend indoors chained to a desk.   

Sweet! It's always great to hear when folks can get out sooner than planned! 

My motivation at work is really dropping! I am planning mini short getaways (inexpensive, mostly within driving distance) every few months just to keep myself going to the finish line.
Title: Re: 2019 fire cohort
Post by: Trifele on February 28, 2018, 06:45:46 AM
So glad to see February end!  It's been a rough month at work, with office politics and other nonsense that will make it oh-so-easy to say goodbye.

Speaking of goodbye, I was originally down for August 1 of next year, but have decided to pull the plug earlier.  I'm now planning to hand in my notice beginning of January for an April 1 departure.  Very excited that this will be the last spring I have to spend indoors chained to a desk.   

Sweet! It's always great to hear when folks can get out sooner than planned! 

My motivation at work is really dropping! I am planning mini short getaways (inexpensive, mostly within driving distance) every few months just to keep myself going to the finish line.

I hear you, LTD.  I am also going to have to do a mini-vacay every few months, just to keep going.  This last bit to the finish line is tough.  I would leave sooner (2018), but I have decided to hold on for my bonus, which is paid out in December.  My 401k employer contributions also vest in December, so another good reason to stay put til then. 
Title: Re: 2019 fire cohort
Post by: itchyfeet on February 28, 2018, 07:40:42 AM
+1 for lots of holidays this year
Title: Re: 2019 fire cohort
Post by: Bateaux on February 28, 2018, 09:06:52 PM
Don't take me off the 2019 list yet.  Looking more like 2020 though.  Time will tell.  Watching over 100k of value disappear in a few days spooked me.  Still a long way from where we were at the top.  Rising interest rates are killing my bond fund as well. 
Title: Re: 2019 fire cohort
Post by: Trifele on March 01, 2018, 07:33:10 AM
Hello March!  10 months til I give notice. 
Title: Re: 2019 fire cohort
Post by: itchyfeet on March 01, 2018, 08:20:42 AM
Don't take me off the 2019 list yet.  Looking more like 2020 though.  Time will tell.  Watching over 100k of value disappear in a few days spooked me.  Still a long way from where we were at the top.  Rising interest rates are killing my bond fund as well.

Yes, the S&P500 is not back at the top, but it is back to where it was at 1 January this year. With dividends included, returns are in the black this year. Already!

After a 21%+ total return last year from the S&P500 I am stoked to be in the black.

With the global economy looking strong I am far from spooked. Bring on 2019 baby!!!!

2020 is a long long long way away. You will see this and join your comrades in freedom in 2019. 🤣

((Disclaimer: my tough words may later not be matched by quite as tough actions 😬. Itís just lucky DW is determined to press eject at the end of this year, or my knees might wobble too).

Title: Re: 2019 fire cohort
Post by: TartanTallulah on March 01, 2018, 10:29:47 AM
Thirteen paychecks to go, tra la la :-) Although a lot can happen in thirteen months.

I'm mostly at peace with having had to scurry back here after my optimistic flirtation with the idea of 2019, to the extent that although I've discovered that I can quit this year after all, I don't expect to, and am even thinking that if I can resolve a few problems with my present job (in particular, the long working days, for which I'm far too old now) I may be able to hold out till 2021, when my professional licence would come up for renewal.

Knowing that I now have executive control over when I pull the plug means that I'm not scared of burning out and my inner workaholic is on the rampage. I'll enjoy it while it lasts.
Title: Re: 2019 fire cohort
Post by: dude on March 01, 2018, 01:09:42 PM
Exactly right, Eric. I mean, most here would probably call me a pussy,  ...

I want to say something here about the relative durability of vaginas versus the fragility of male organs, some kind of Betty White paraphrasing, but maybe we'll just all acknowledge that vaginas are actually pretty tough and we shouldn't equate with weakness in our metaphors just because we think women are the weaker sex.

Toque.

Yeah, I have to say I read that comment the same way as Mr. Frugal Toque. . .  I know you were talking about yourself, @dude, and not someone else, but 'pussy' sounds like equating women with weakness.   

Aw geez guys, c'mon!  Can we not make this a PC (and I generally hate that term) issue? Webster's defines "pussycat" as "2. one that is weak, compliant or amiable: SOFTY". This has been shortened in our everyday language (for as long as I've been alive) to "pussy."  That is the general term as everyone knows it and uses it, at least in the circles I've traveled in all my life.
Title: Re: 2019 fire cohort
Post by: dude on March 01, 2018, 01:14:06 PM
Don't take me off the 2019 list yet.  Looking more like 2020 though.  Time will tell.  Watching over 100k of value disappear in a few days spooked me.  Still a long way from where we were at the top.  Rising interest rates are killing my bond fund as well.

Yes, the S&P500 is not back at the top, but it is back to where it was at 1 January this year. With dividends included, returns are in the black this year. Already!

After a 21%+ total return last year from the S&P500 I am stoked to be in the black. 


Maybe not after today . . .
Title: Re: 2019 fire cohort
Post by: Bateaux on March 01, 2018, 01:33:00 PM
Don't take me off the 2019 list yet.  Looking more like 2020 though.  Time will tell.  Watching over 100k of value disappear in a few days spooked me.  Still a long way from where we were at the top.  Rising interest rates are killing my bond fund as well.

Yes, the S&P500 is not back at the top, but it is back to where it was at 1 January this year. With dividends included, returns are in the black this year. Already!

After a 21%+ total return last year from the S&P500 I am stoked to be in the black. 


Maybe not after today . . .

Don't get me wrong guys.  One of my greatest desires is to quit, load up my bicycle and go on a 1000 mile tour.   It's just the money pump is going full stream and there are a few issues that just OMY could solve.  I mentally need to see 2 million in my Mint account.  We were within 31K at the top.  Glad to have you guys when I'm a nervous Nelly.
Title: Re: 2019 fire cohort
Post by: 2Birds1Stone on March 01, 2018, 01:59:26 PM
Might be a long time before that happens in a bear market.
Title: Re: 2019 fire cohort
Post by: VoteCthulu on March 01, 2018, 02:19:01 PM
It's another 18 months for me, which still seems like a long ways off. Maybe when it gets to 12 or 9 months it will feel a lot more imminent.

I have recently been considering reducing my 401k contributions in order to build up my taxable accounts faster, but mathematically it's the same as paying the early withdrawal penalty, so I haven't made any changes yet.
Title: Re: 2019 fire cohort
Post by: MoMan on March 02, 2018, 10:55:50 AM
For some reason, I stopped getting notifications about new posts to this thread.

At any rate, here is my own updated situation, posted because it's a slow Friday for me and I have another 6 unproductive hours to kill. So I will share my own good news to inspire you (or piss you off)!

My assets have been rocking it! Well, up until February. Last year my combined balances increased by about $200k. That includes contributions, which were probably around 25k. Damn! So when we hit the pothole in February, it didn't really bother me that much to see that my balance dropped by $70k in a week. Plus, much of that has already recovered.

One year ago, I got a very welcome change in my office reporting structure: My new boss is pretty cool and calm. I was really fed up with the incompetent corporate cheerleader I had been reporting to for the previous 9 years. Ugh. I can't believe he hasn't been fired, but he did get a bit of a demotion (not that he even realizes it!!). Plus, he and another perpetual victim colleague now have to deal with another person I can't stand. Bonus! So that aspect of life has improved.

Another work improvement has been compliments of Hurricane Harvey. The storm completely flooded the corporate campus. The basements of multiple buildings flooded with water, so we were all forced to work remotely from home for a few months. We And our group was held up as a model for business continuity. As a result, we proved that we can effectively work from home so management is allowing us to work from home up to 2 days a week.

And my wife is liking my FIRE preparations. I walk to the grocery store constantly. Last week, I pulled a child's wagon to pick up the ingredients for my breakfast burritos. And I ride bike to the hardware stores, etc. Love my staycations! My backyard/garage workshop is my favorite place in the whole world.

Still, I'm just over 19 months out. Gotta gut it out to qualify for the MegaCorp retiree health plan, which becomes available upon age 55. It seems to get tougher the closer I get, but as I look back, the time is really moving fast.

Title: Re: 2019 fire cohort
Post by: VoteCthulu on March 02, 2018, 03:24:01 PM
Another work improvement has been compliments of Hurricane Harvey. The storm completely flooded the corporate campus. The basements of multiple buildings flooded with water, so we were all forced to work remotely from home for a few months. We And our group was held up as a model for business continuity. As a result, we proved that we can effectively work from home so management is allowing us to work from home up to 2 days a week.
You might just work for the Houston branch of the same MegaCorp I work for. I still have the memo from our group executive vice president extolling hard work of our 2,100 Houston colleagues who pulled together after the storm.

I remember hoping my building would close for a few months so I could work from home too, although without the widespread destruction and loss of life.
Title: Re: 2019 fire cohort
Post by: MoMan on March 03, 2018, 05:42:19 AM
I still have the memo from our group executive vice president extolling hard work of our 2,100 Houston colleagues who pulled together after the storm.

I may have written that memo. I'm not the exec but I write some communications for various execs and worked on some post-harvey emails.
Title: Re: 2019 fire cohort
Post by: exit2019 on March 11, 2018, 07:23:20 PM
I'm joining the 2019 cohort.  Even though, to be honest, I am terrified by the current market and housing valuations.  World feels a lot like 1/1/2000 right now..
Title: Re: 2019 fire cohort
Post by: itchyfeet on March 11, 2018, 08:56:08 PM
Weilcome aboard.

Itís certainly easy to fear the worst and get all doomsdayish, and itís good to at least think through the what ifís. But I am sure that if the worst happens, and you have to implement your contingency plans, you will adapt and things will work out ok. Just by being here you are ahead of 80% this of your peers. Congratulations.
Title: Re: 2019 fire cohort
Post by: Eric on March 12, 2018, 05:00:19 PM
I'm joining the 2019 cohort.  Even though, to be honest, I am terrified by the current market and housing valuations.  World feels a lot like 1/1/2000 right now..

Can't comment on housing, as I live in Silicon Valley and housing valuations have been cuckoo forever, but stock valuations would need to increase 33% without any corresponding earnings increase to equal 2000.  (CAPE of 44 vs 33 currently).  Plus interest rates are lower now and companies just received a large handout tax cut.  I think we have some ways to go before any 2000 type scenarios.  Granted, I wouldn't expect outsized returns in the near-ish future, but it's easy enough to deal with that.  Save more, add bonds, be willing to cut some spending, etc.  Whatever you do, don't join the 2020 group instead.  They're a bunch of losers.  :)
Title: Re: 2019 fire cohort
Post by: exit2019 on March 12, 2018, 11:13:38 PM
I am also in the Valley; house in the peninsula that I plan to sell this year as part of bailing from this place.  But being 30+% below the peak really isn't very reassuring given the current CAPE.  Good luck to all of us I guess.
Title: Re: 2019 fire cohort
Post by: PhilB on March 13, 2018, 02:25:45 AM
Whatever you do, don't join the 2020 group instead.  They're a bunch of losers.  :)
It was okay when Eric told me off for posting in this thread after I defected to 2018, but now I'm getting worried.  Next thing we know he'll be slapping a 25% duty on bacon memes imported from the 'Top is in' thread  ;o)
Title: Re: 2019 fire cohort
Post by: Eric on March 13, 2018, 11:04:09 AM
Whatever you do, don't join the 2020 group instead.  They're a bunch of losers.  :)
It was okay when Eric told me off for posting in this thread after I defected to 2018, but now I'm getting worried.  Next thing we know he'll be slapping a 25% duty on bacon memes imported from the 'Top is in' thread  ;o)

Don't make me fire up the Twitter on you!
Title: Re: 2019 fire cohort
Post by: Bateaux on March 15, 2018, 05:26:23 AM
Don't take me off the 2019 list yet.  Looking more like 2020 though.  Time will tell.  Watching over 100k of value disappear in a few days spooked me.  Still a long way from where we were at the top.  Rising interest rates are killing my bond fund as well.

I guess it's time to leave the 2019 list.  I have no confidence that my savings will cover my future expenses at this point.   Moving to class of 2020 as of now.  Maybe as far out as 2023.  Good luck to you all.
Title: Re: 2019 fire cohort
Post by: itchyfeet on March 15, 2018, 07:08:47 AM
Don't take me off the 2019 list yet.  Looking more like 2020 though.  Time will tell.  Watching over 100k of value disappear in a few days spooked me.  Still a long way from where we were at the top.  Rising interest rates are killing my bond fund as well.

I guess it's time to leave the 2019 list.  I have no confidence that my savings will cover my future expenses at this point.   Moving to class of 2020 as of now.  Maybe as far out as 2023.  Good luck to you all.

I guess you will also leave the $2-3m race between now and FIRE. Leaving all your friends munching on your dust......
Title: Re: 2019 fire cohort
Post by: Bateaux on March 15, 2018, 11:02:06 AM
Don't take me off the 2019 list yet.  Looking more like 2020 though.  Time will tell.  Watching over 100k of value disappear in a few days spooked me.  Still a long way from where we were at the top.  Rising interest rates are killing my bond fund as well.

I guess it's time to leave the 2019 list.  I have no confidence that my savings will cover my future expenses at this point.   Moving to class of 2020 as of now.  Maybe as far out as 2023.  Good luck to you all.

I guess you will also leave the $2-3m race between now and FIRE. Leaving all your friends munching on your dust......

Haven't quite crested 2 million yet.   Came within 31k one day and then the tumbles came.  We're about 1.95M right now.   A week of good runs maybe woukd push us over.  Getting to 3M or beyond will take some market cooperation.   It's mainly about health care costs inflation.   To lock in company benefits I'd have to work till 55 in 2023.  Don't worry I'll be around for a while yet.
Title: Re: 2019 fire cohort
Post by: TartanTallulah on March 16, 2018, 06:10:42 AM
I've just had my last-ever annual review ... except it may not be my last ever, because it would make sense to do one more immediately before I retire at the end of March 2019. I'm planning to maintain my professional registration for 12 months after retiring rather than burning that bridge, just in case the job stops being shit as soon as I've left and I decide I want to go back in some sort of part time role. Because once upon a time it wasn't shit, and the fundamentals of the job aren't shit.

We also had a meeting about the future of the organisation last week. It was reassuringly positive, but I don't think there's any risk of either a payoff or an offer of golden handcuffs.

Next year is going to be challenging and I suspect I'll be glad when it's over and I can whisper the word "sabbatical", slip away without any hoohah, and never be seen again.

Title: Re: 2019 fire cohort
Post by: DreamFIRE on March 17, 2018, 08:34:46 PM
I hadn't posted to this thread before, but I'm firmly in the 2019 camp for now.

June 1, 2019 is my estimated last day of full time work.

Single - no kids

Stache:

Based on my current expenses, for barebones, my stash is at 81X
Based on my expected barebones during FIRE, my stash is at 63X
Based on my desired fun & travel FIRE budget, my stash is at 25X

The big difference between pre-FIRE 81X and FIRE 63X is dental & ACA healthcare coverage costs
But the reduction to 25X after adding fun/travel gives me some serious room to scale back on expenses if needed and lower my WR from 4% to at low as 1.6%.

If ACA goes away, I'll have to re-think everything.  By my expected FIRE date, the mid-term elections will be in the past.

I don't know if it will be an option for me, and I wouldn't approach the topic with my company until the time comes, but I hope I can stay on part time for 1 year at 3 days per week, which will allow me to retain existing dental/healthcare benefits, vacation days, and retirement plan contributions.

I would also consider working 1 or 2 days per week, despite losing the benefits just mentioned.  The hourly pay rate is high enough that a single work day each week is enough to pay 75% of my FIRE barebones.

If either of those is an option, I might not do it for more than a year.  I'm also considering slow travel and relocating a year or so after I FIRE when I'm able to sell my house, so I wouldn't be able to work even part time at my current employer by that point.  Any relocation I might do should not make a significant impact on my budget.  I'm in a LCOL area, and I wouldn't move to a HCOL area.

Aside from the ACA concerns, the only other reason I consider OMY until 2020 is because I'm running in the 70% to 80% saving rate range, and it will amount to about $90,000 net more in stash value in June 2020 due to additional savings by FIREing in 2020 vs. spending from stash by FIREing in 2019.   I like my job.  No cubicle - I have my own office, it's stress free, it's interesting, lots of downtime.  So, OMY isn't bad from the job prospective, but the extra $90,000 isn't a necessity.  So for now, I'm setting up camp as a 2019 FIRE cohort.

Edit:  I'm not factoring any investment growth/gains/losses into the $90,000 figure.  It's just a difference in additional funds added by FIREing in 2020 vs. funds being withdrawn by FIREing in 2019.

Barebones for me includes paying all the current bills and includes expenses that may be unusually high some years like home maintenance costs, car maintenance, etc. by taking expected longer term expenses and dividing the cost out over many months.
Title: Re: 2019 fire cohort
Post by: 2Birds1Stone on March 18, 2018, 09:04:15 AM
Sounds like a very good plan DreamFIRE.

What % of your current portfolio does $90k represent? If it will make a significant improvement to your quality of life/security then I would consider it given the "low stress" job.

For someone with $2M+ it might not make a huge difference, for me ~$375k it would be HUGE.
Title: Re: 2019 fire cohort
Post by: DreamFIRE on March 18, 2018, 11:38:23 AM
Thanks.  I'm somewhere in between.  My stash is over $1.2M, so $90K is about 7% of my stash.  As long as decent ACA plans are available with the current law, I would say that the $90K would not provide a significant improvement in my quality of life or security, plus I'm a little older, so it's not as easy to give up an extra year of retirement now as it it would be if I was 30, even though it would still be earlier than about anyone else I work with.  If ACA doesn't stick around, then that will tighten things up quite a bit, although it may still work out by significantly cutting the fun/travel budget.  Even the $90K wouldn't bridge that gap.
Title: Re: 2019 fire cohort
Post by: 2Birds1Stone on March 18, 2018, 07:04:24 PM
Thanks.  I'm somewhere in between.  My stash is over $1.2M, so $90K is about 7% of my stash.  As long as decent ACA plans are available with the current law, I would say that the $90K would not provide a significant improvement in my quality of life or security, plus I'm 20 years older, so it's not as easy to give up an extra year of retirement now as it it would be if I was 30, even though it would still be earlier than about anyone else I work with.  If ACA doesn't stick around, then that will tighten things up quite a bit, although it may still work out by significantly cutting the fun/travel budget.  Even the $90K wouldn't bridge that gap.

No doubt about it! My current threshold is 10%, meaning if I can't increase my portfolio by at least 10% by working an entire 12 months at full time, then the job isn't worth it.

Right now that's only ~$37k, and I can add ~$48k so I keep working, but once I cross that 10% threshold...... the choice becomes one of more substance.
Title: Re: 2019 fire cohort
Post by: PhilB on March 19, 2018, 05:18:45 AM
Thanks.  I'm somewhere in between.  My stash is over $1.2M, so $90K is about 7% of my stash.  As long as decent ACA plans are available with the current law, I would say that the $90K would not provide a significant improvement in my quality of life or security, plus I'm 20 years older, so it's not as easy to give up an extra year of retirement now as it it would be if I was 30, even though it would still be earlier than about anyone else I work with.  If ACA doesn't stick around, then that will tighten things up quite a bit, although it may still work out by significantly cutting the fun/travel budget.  Even the $90K wouldn't bridge that gap.

No doubt about it! My current threshold is 10%, meaning if I can't increase my portfolio by at least 10% by working an entire 12 months at full time, then the job isn't worth it.

Right now that's only ~$37k, and I can add ~$48k so I keep working, but once I cross that 10% threshold...... the choice becomes one of more substance.
This strikes a chord - the hours I've spent agonising over these decisions!  I planned to do 3 more years beyond the 10% threshold and thought, at the time, that was a reasonable compromise.  I've now cut that by 8 months (which is why I shouldn't be posting here any more!) and even so it's probably going to be longer than was really sensible.  At 51 I can see that the number of 'good years' I've got left is shrinking rapidly and the ability to inflate my lifestyle if I wanted to no longer seems like a reasonable trade for them.
Title: Re: 2019 fire cohort
Post by: itchyfeet on March 19, 2018, 11:05:57 AM
I hear you! I am just a couple of years younger than you and the balance between inflating the lifestyle further versus getting on with things Iíd rather be doing is a delicate one.

I certainly donít have a clear answer in my mind, but will take the plunge into FIRE, knowing that itís quite possible I might get another job a year later. Who knows??

Part of my thinking is that if I can set aside a little greed, the payoff in freedom and the ability to do what is really want to be doing is a big payoff. Itís worth testing.

If ultimately (say 6 months to a year post FIRE) I am not happy buying a cheaper house, driving a cheap car, flying economy class and having a slightly limited budget for travel and entertainment, then Iíll go back to work.

I donít know the answers to this today, but I do feel itís easier to maintain the status quo.

Continuing to work is an easier choice than FIREing, and this makes it seem a better choice. But I suspect if I was FIREd today, then staying FIREd would be the easier option and would
Likely seem to be the better choice. I can imagine that deciding to go back to work once FIREd will be a difficult decision that one would prob try to avoid, even if it meant tightening the belt a little.
Title: Re: 2019 fire cohort
Post by: DreamFIRE on March 19, 2018, 09:44:59 PM


I'm planning to keep my lifestyle pretty much the same when I FIRE as far as material items... keep driving my car, keep living in my paid-for house, and limit spending on unnecessary consumer goods. Even if I relocate, I'll will try to keep my total housing costs in the same ballpark that I'm paying now, although it may even be a step back in square footage to pull that off since I'm in a LCOL area with a fairly large house.  The difference with my FIRE plan is in my entertainment and travel budget, which has been very low in recent years, and I plan to really step it up for FIRE when I'll actually have the free time to take advantage of it.  That's also an easy area to back off spending if I feel the need to reduce my WR rate later on or need to re-allocate funds to something else which may be unforeseen.  I might be able to stay on part time for another year beginning in 2019, but once I fully stop working, I don't want to feel a financial need to ever work again.

I can't really put a % threshold on the additional earnings and whether it justifies working OMY.  There are just too many other factors, like how the job is going in another year, whether I'm emotionally ready to pull the FIRE trigger at the time, whether I'm confident next year that the ACA (or something as good) will be around for another decade, and the state of my investments and the economy in general after another year.  It's not about inflating my lifestyle any further over my current FIRE plans, but it's more about holding on to the current dream and also realizing that $90K would ease at least some of the pain of higher health care coverage costs if things were to fall apart with the ACA rather than robbing the additional healthcare costs from my vacation/entertainment budget.  I'm certainly hopeful, so June 1, 2019 is my date for now.
Title: Re: 2019 fire cohort
Post by: sui generis on March 20, 2018, 07:57:37 PM
Hello my people!  I've been lurking for a while but my patience at work is wearing thin and there are so few people IRL that I can talk to about this.

I'm 40 and my last day of work is going to be around 2/15/19.  I need to have my 2018 bonus in my bank account before I give notice and then I'm out ASAP.  I've never...quite taken to the "job" thing. And it seems to get more and more unpleasant with each career and job I try.  So I decided I should stop trying to do it!

As of today I am very close to 28.57x standard expenses (for the 3.5% w/d rate) and if all goes smoothly I'll be at almost 33x/3% w/d of Fat FIRE (if I'm using that term correctly) by the time I leave, but I'm perfectly happy at 30x/3.33% or even a little less, maybe.  My expenses also still include a large category for charity, which I'd like to continue doing at the same levels, but is certainly part of my extra cushion if need-be.  So I don't think anything will stop me (numbers-wise) from my date, but I'd still appreciate it if the market would cooperate!

In the intervening time, my boyfriend and I are planning to get married.  He's the best and already FI himself but he loves his job (so weird!) and won't be leaving, even though every trip/trail I talk about doing after I RE, he wants to do too!  So, he's either gonna miss out on a lot or will end up retiring as well.  When we marry, we probably won't formally combine our finances, but I probably also won't actually do the Roth Conversion ladder for the last few years before 59.5 when I run out of taxable, as I would do if we didn't marry/if I was single.  But it's important to me that I do this "on my own" and am not retiring on his dime, so I'll be tracking it all the time.

I'm also going to use this time to get mentally ready to retire.  I had my first meeting with my "coach" last week and she and I are going to work on how I can think of myself/my identity without my career, how I can find the right balance between the continuing drive and societal pressure to be productive and accomplish lots of things and really slowing down life like I want to - because I am NOT FIRE-ing just to transplant expectations of a high-achieving career into a high-achieving retirement.  Also, given that I've never liked anything I've "done" as a job, I'm a little worried I won't like what I "do" when I'm retired either - you know just because I'm a dissatisfied person and I don't like doing anything (other than sleeping) more than like 5-10 hours per week.  I'm still really hoping I end up doing something (or several somethings) I actually really like, and just don't have to worry about getting paid for it.  So I'm hoping to get myself in a good place in that respect.

So the scary things for me in the next year: market (obvs) and being mentally prepared to go out and answer the question of whether or not I actually have a passion.

In the meantime, I have to go to coffee on Monday with my assigned "mentor" and he's wants to talk to me about my career path, so I'm going to have to lie through my teeth about how much I love it there and hopefully vaguely avoid making any commitments about the future.

P.S.  Somehow in my lurking I haven't yet found a list of acronyms - is there one somewhere?
Title: Re: 2019 fire cohort
Post by: DreamFIRE on March 20, 2018, 08:26:57 PM
P.S.  Somehow in my lurking I haven't yet found a list of acronyms - is there one somewhere?
Welcome aboard!  To quickly answer your question, the FAQ thread links to this page for acronyms:

http://www.early-retirement.org/forums/f47/acronyms-and-slang-frequently-used-on-the-forum-34884.html
Title: Re: 2019 fire cohort
Post by: sui generis on March 20, 2018, 08:47:55 PM
P.S.  Somehow in my lurking I haven't yet found a list of acronyms - is there one somewhere?
Welcome aboard!  To quickly answer your question, the FAQ thread links to this page for acronyms:

http://www.early-retirement.org/forums/f47/acronyms-and-slang-frequently-used-on-the-forum-34884.html

TY!!
Title: Re: 2019 fire cohort
Post by: Trifele on March 21, 2018, 05:30:59 AM
We've got some major shit going on at work.  Suffice it to say that my final 12 months are not going to be the tough, boring slog I thought they were going to be.  It's going to be a hell of a lot more interesting (and bumpy) than that.  I'll know more in the next day or two.
Title: Re: 2019 fire cohort
Post by: itchyfeet on March 21, 2018, 10:08:21 AM
Just got paid my 2017 bonus.

Another bunch of nails in the coffin that is my career. Looking forward to putting it 6 feet under in January.
Title: Re: 2019 fire cohort
Post by: markbike528CBX on March 21, 2018, 10:24:35 AM
Just got paid my 2017 bonus.

Another bunch on nails in the coffin that is my career. Looking forward to putting it 6 feet under in January.

We had a major layoff (35 to 13 people left) and were scheduled a "retention bonus" spread over 3 years.  Final payoff last May provided a kick to the mortgage.   I mentioned that the retention only lasted as long as the bonus and in fact accelerated non-retention.
Title: Re: 2019 fire cohort
Post by: Trifele on March 22, 2018, 05:33:32 AM
Found out that my company is being bought by MegaCorp!  We don't have many details yet, but they are aiming to close the deal in early fall. 

In all these years I've worked, I've never been through an acquisition/merger . . . Odd that it would happen in my final 12 months of working.  So I'm trying to imagine how this might go with my planned FIRE time frame, which was to give notice January 1, work til April 1, 2019.  Hopefully it won't hurt me too much financially, and depending on the exact timing of a layoff I guess it could work to my advantage, with possible severance/healthcare?

One negative thing I thought of is that up to 20% of our annual pay is a bonus paid at the end of the year, and I predict we can kiss that goodbye, even if MegaCorp keeps us on. 

Anyone been through this?  Words of wisdom appreciated. 
Title: Re: 2019 fire cohort
Post by: 2Birds1Stone on March 22, 2018, 07:18:03 AM
Found out that my company is being bought by MegaCorp!  We don't have many details yet, but they are aiming to close the deal in early fall. 

In all these years I've worked, I've never been through an acquisition/merger . . . Odd that it would happen in my final 12 months of working.  So I'm trying to imagine how this might go with my planned FIRE time frame, which was to give notice January 1, work til April 1, 2019.  Hopefully it won't hurt me too much financially, and depending on the exact timing of a layoff I guess it could work to my advantage, with possible severance/healthcare?

One negative thing I thought of is that up to 20% of our annual pay is a bonus paid at the end of the year, and I predict we can kiss that goodbye, even if MegaCorp keeps us on. 

Anyone been through this?  Words of wisdom appreciated.

We just bought a competitor last year and the employees being acquired received a retention bonus for staying on 12 months post acquisition, it might be a very good thing for you!
Title: Re: 2019 fire cohort
Post by: Trifele on March 22, 2018, 07:59:03 AM
Found out that my company is being bought by MegaCorp!  We don't have many details yet, but they are aiming to close the deal in early fall. 

In all these years I've worked, I've never been through an acquisition/merger . . . Odd that it would happen in my final 12 months of working.  So I'm trying to imagine how this might go with my planned FIRE time frame, which was to give notice January 1, work til April 1, 2019.  Hopefully it won't hurt me too much financially, and depending on the exact timing of a layoff I guess it could work to my advantage, with possible severance/healthcare?

One negative thing I thought of is that up to 20% of our annual pay is a bonus paid at the end of the year, and I predict we can kiss that goodbye, even if MegaCorp keeps us on. 

Anyone been through this?  Words of wisdom appreciated.

We just bought a competitor last year and the employees being acquired received a retention bonus for staying on 12 months post acquisition, it might be a very good thing for you!

Wow -- 12 months!  That would indeed be great, and would not disrupt a thing.  And if they did that, then I suppose it is possible they might even keep our current pay/bonus structure for a while as well, which would be good.  It's going to be an interesting year.  Thanks!
Title: Re: 2019 fire cohort
Post by: Eric on March 23, 2018, 11:57:16 AM
There's been a lot of turnover in my department lately.  As such, yesterday I was offered a promotion and more money.  This was done in an effort to "keep me".  Little do they know that more money only makes me leave sooner.  Bwahaahaha

Come on 2019!!
Title: Re: 2019 fire cohort
Post by: Pylortes on March 23, 2018, 01:49:24 PM
Eric- I assume you are planning to take the position then?   Are there any negatives (hours wise or otherwise) with the promotion?  Honestly I think I'd pass on a promotion offered to me at this point, but circumstances differ.
Title: Re: 2019 fire cohort
Post by: Eric on March 23, 2018, 02:01:59 PM
Eric- I assume you are planning to take the position then?   Are there any negatives (hours wise or otherwise) with the promotion?  Honestly I think I'd pass on a promotion offered to me at this point, but circumstances differ.

Oh whoops.  I guess I should've included that info.  The "promotion" is basically just a title change.  My new duties are exactly the same as my old duties, but with more pay.  So yes, as you can imagine, I accepted.  :)
Title: Re: 2019 fire cohort
Post by: Pylortes on March 23, 2018, 02:12:48 PM
Sweet! Yes, that's a no-brainer then.  What's your anticipated FIRE date?  Should be able to pad that stache a little more, nicely done.
Title: Re: 2019 fire cohort
Post by: sui generis on March 23, 2018, 02:16:23 PM
Eric- I assume you are planning to take the position then?   Are there any negatives (hours wise or otherwise) with the promotion?  Honestly I think I'd pass on a promotion offered to me at this point, but circumstances differ.

Oh whoops.  I guess I should've included that info.  The "promotion" is basically just a title change.  My new duties are exactly the same as my old duties, but with more pay.  So yes, as you can imagine, I accepted.  :)
Congrats!  How nice to have more a better title in the meantime and, of course, the money!  What an awesome gift.
Title: Re: 2019 fire cohort
Post by: markbike528CBX on March 23, 2018, 02:47:06 PM
New table update.   It has been 3 pages so I thought I'd update.   If you have any updates/corrections just PM me.  I'll just edit this post instead of posting a new one.

Most Righteous Alias    Age@fire  Target DateOLY/OMY notes and eventually Date Confirmed
MoneyStacher51Jan-19
PhilB53Jan-19
sui generis41Feb-15-19
zinnie35Feb-19
MissNancyPryor50Mar-19
Roboturner30Mar-19
TartanTallulah55March-31-19moved to 2018 and is back again
EdgemaMar-19
Trifele52April-1-19 - WIGLO
HalfStached41Apr-1-19
Luck1241Apr-19
albireo1361May-1-19
Livingthedream5559May-19
cerat0n1aMay-19summer 2018 planned
dude53May-19
SamIAm3829May-19
FIRE 20/20May-19
Pylortes42May-31-19
Odiedog8590625/31/19
oldtoyotaJun-19
Itchyfeet47Jun-19
Bateaux50Jun-19
Parizade62Jun-21-19
CryingInThePool44Jun-19
powersuitrecall47Jul-19
Enigma39Jul-19
Thedividebyzero45Jul-19
Cornbread OMalley42Aug-19
RetirementDreamingSep-19
Spreadsheet ManSep-27-19
VoteCthulu39Oct-19
trix7643Oct-19
MoMan55Oct-19
2Birds1Stone32Nov-1-19
markbike528CBX55Dec-19 OLY 5-2018 at 53.5 but checking in as OP
HBFI38Dec-19
luckyme1345Dec-19
moxieDec-27-19
madamwitty36TBD
Lowerbills40TBD
Chrissy42TBD
GerardTBD
getoutsoon52TBD
ysette938late-19TBD
elaine amj40TBD
IplawyerTBD
ChairmanTBD-SemiFire 2018
exit2019TBD-2019

Title: Re: 2019 fire cohort
Post by: Eric on March 23, 2018, 03:18:53 PM
Sweet! Yes, that's a no-brainer then.  What's your anticipated FIRE date?  Should be able to pad that stache a little more, nicely done.

I'm not 100% sure on the date.  Hopefully not too long into 2019.  But I'll work at least a bit into 2019 no matter what as I want to max my 2019 IRA contribution and my 401k match is actually frontloaded, so it'd be silly to pass up that free money.  Plus, I need to coordinate with my wife, because there's no way that she'll let me quit before her.  :) 

I'll put a guess of giving my notice in March, but of course we'll see how the market does over the next year.

Eric- I assume you are planning to take the position then?   Are there any negatives (hours wise or otherwise) with the promotion?  Honestly I think I'd pass on a promotion offered to me at this point, but circumstances differ.

Oh whoops.  I guess I should've included that info.  The "promotion" is basically just a title change.  My new duties are exactly the same as my old duties, but with more pay.  So yes, as you can imagine, I accepted.  :)
Congrats!  How nice to have more a better title in the meantime and, of course, the money!  What an awesome gift.

Thanks!  The new title is nice, but I can think of a better one:  Retired ;)

And yeah, I will of course take their money!  It was definitely a nice surprise. 
Title: Re: 2019 fire cohort
Post by: DreamFIRE on March 23, 2018, 03:37:48 PM
It's another 18 months for me, which still seems like a long ways off. Maybe when it gets to 12 or 9 months it will feel a lot more imminent.

I have recently been considering reducing my 401k contributions in order to build up my taxable accounts faster, but mathematically it's the same as paying the early withdrawal penalty, so I haven't made any changes yet.

I was down to 13 months, then just I extended it to June when I realized I could shelter more income to keep my MAGI in check for ACA.  Still, just over 14 months now, and since I use a lot of benefit days in July through mid Sept., it will be close to October when I'll really be watching that countdown.  So June 1, 2019 remains my target for now.

I've actually been putting more into my 457 contributions through work recently because my taxable account and Roth have more than double my 457/work-plan, and this will allow me to work through the spring of 2019 while keeping my MAGI from exceeding any ACA cliffs.  I just wanted to be FIREd for the summer, so June 1 works for me.
Title: Re: 2019 fire cohort
Post by: 2Birds1Stone on March 25, 2018, 07:47:03 AM
I've been working on a modeling tab in my FIRE spreadsheet that is charting my income at 4% WR vs. trailing 12 month expenses.

Assuming flat markets, no income/job loss, and no crazy unexpected expenses, the two lines are projected to cross on November 1st 2019, ~19 months from now.

Title: Re: 2019 fire cohort
Post by: edgema on March 27, 2018, 02:10:10 AM
Tough week. I don't regret my decision to do OMY but this would have been my last week at work before handing in my notice. Blink and another year will be gone looking back on it, but it feels like a long time day-to-day.

The great news it that my wife seems much more excited about me FIREing and taking the kids travelling for a year. Before now she was definitely worried about the financials, in part due to my infrequent but significant freakouts that none of this will work! This fear may rise again when we are close to March 2019 but lets hope not.

So the 'big' countdown clock for a year starts in a few days which will be satisfying.
Title: Re: 2019 fire cohort
Post by: mintleaf on March 27, 2018, 05:48:51 AM
I suppose it's time to put things in writing and officially join this thread. The plan is as follows: May 2019, we sell our HCOL clown house and move into our MCOL house with acreage. That should push our stash up to a point that finally "feels" FI. I'm going to quit my office job immediately, but DW will likely work a couple more years. At some point she wants to start a business. I want to find my bliss in living simply, growing food, and maybe selling homemade stuff on the side.

Whew, it's a little nerve-wracking to actually write that down. Feels like tempting fate.
Title: Re: 2019 fire cohort
Post by: dude on March 27, 2018, 06:30:58 AM
New table update.   It has been 3 pages so I thought I'd update.   If you have any updates/corrections just PM me.  I'll just edit this post instead of posting a new one.

table]
Most Righteous Alias    Age@fire  Target DateOLY/OMY notes and eventually Date Confirmed
MoneyStacher51Jan-19
PhilB53Jan-19
sui generis41?2/15/19
zinnie35Feb-19
MissNancyPryor50Mar-19
Roboturner30Mar-19
TartanTallulah553/31/19moved to 2018 and is back again
EdgemaMar-19
HalfStached41Apr-1-19
Luck1241Apr-19
albireo1361May-1-19
Livingthedream5559May-19
cerat0n1aMay-19summer 2018 planned
dude54May-19
SamIAm3829May-19
FIRE 20/20May-19
Pylortes425/31/19
Odiedog8590625/31/19
oldtoyotaJun-19
Itchyfeet47Jun-19
Bateaux50Jun-19
Parizade62Jun-21-19
CryingInThePool44Jun-19
powersuitrecall47Jul-19
Enigma39Jul-19
Thedividebyzero45Jul-19
Trifele52Aug-19
Cornbread OMalley42Aug-19
RetirementDreamingSep-19
Spreadsheet ManSep-27-19
VoteCthulu39Oct-19
trix7643Oct-19
MoMan55Oct-19
markbike528CBX55Dec-19 OLY 5-2018 at 53.5 but checking in as OP
HBFI38Dec-19
luckyme1345Dec-19
moxieDec-27-19
madamwitty36TBD
Lowerbills40TBD
Chrissy42TBD
GerardTBD
getoutsoon52TBD
ysette938late-19TBD
elaine amj40TBD
IplawyerTBD
ChairmanTBD-SemiFire 2018
2Birds1StoneTBD-2019
exit2019TBD-2019

I'll be retiring a few weeks shy of my 54th birthday, so technically, I'll be 53!  ;-)
Title: Re: 2019 fire cohort
Post by: markbike528CBX on March 27, 2018, 07:59:57 AM
Updated list in my previous list post.
Title: Re: 2019 fire cohort
Post by: 2Birds1Stone on March 27, 2018, 08:44:50 AM
Updated list in my previous list post.

I PM'd you
Title: Re: 2019 fire cohort
Post by: markbike528CBX on March 27, 2018, 08:55:05 AM
Updated 2Birdsonstone and modified the date format.   
If you update the table use my previous one, not the copy later in the thread.

Although my previous date method had a purpose.
 ie  May-19 is "sometime in May"  where 5/31/19 is a specific date that stands out (at least to me) vs May-31-19.

Anyone else who is more OCD than me?
Title: Re: 2019 fire cohort
Post by: Trifele on March 27, 2018, 09:09:25 AM
Updated 2Birdsonstone and modified the date format.   
If you update the table use my previous one, not the copy later in the thread.

Although my previous date method had a purpose.
 ie  May-19 is "sometime in May"  where 5/31/19 is a specific date that stands out (at least to me) vs May-31-19.

Anyone else who is more OCD than me?

Hey Mark -- I PM'd you too.  I am now 4/1/19 or WIGLO.  Thanks!
Title: Re: 2019 fire cohort
Post by: 2Birds1Stone on March 27, 2018, 09:23:34 AM
Updated 2Birdsonstone and modified the date format.   
If you update the table use my previous one, not the copy later in the thread.

Although my previous date method had a purpose.
 ie  May-19 is "sometime in May"  where 5/31/19 is a specific date that stands out (at least to me) vs May-31-19.

Anyone else who is more OCD than me?

Thanks! You can also add age, will be 32 :)
Title: Re: 2019 fire cohort
Post by: markbike528CBX on March 27, 2018, 11:09:50 AM
Most Righteous Alias    Age@fire  Target DateOLY/OMY notes and eventually Date Confirmed
MoneyStacher51Jan-19
PhilB53Jan-19
sui generis41Feb-15-19
zinnie35Feb-19
MissNancyPryor50Mar-19
Roboturner30Mar-19
exit201940Mar-15-19
TartanTallulah55March-31-19moved to 2018 and is back again
EdgemaMar-19
Trifele52April-1-19 WIGLO
HalfStached41Apr-1-19
Luck1241Apr-19
albireo1361May-1-19
Livingthedream5559May-19
cerat0n1aMay-19summer 2018 planned
dude53May-19
SamIAm3829May-19
FIRE 20/20May-19
Pylortes42May-31-19
Odiedog859062May-31-19
DreamFIREJun-1-19
oldtoyotaJun-19
Itchyfeet47Jun-19
Bateaux50Jun-19
Parizade62Jun-21-19
CryingInThePool44Jun-19
powersuitrecall47Jul-19
Enigma39Jul-19
Thedividebyzero45Jul-19
Cornbread OMalley42Aug-19
RetirementDreamingSep-19
Spreadsheet ManSep-27-19
VoteCthulu39Oct-19
trix7643Oct-19
MoMan55Oct-19
2Birds1Stone32Nov-1-19
markbike528CBX55Dec-19 OLY 5-2018 at 53.5 but checking in as OP
HBFI38Dec-19
luckyme1345Dec-19
moxieDec-27-19
madamwitty36TBD
Lowerbills40TBD
Chrissy42TBD
GerardTBD
getoutsoon52TBD
ysette938late-19TBD
elaine amj40TBD
IplawyerTBD
ChairmanTBDSemiFire 2018
exit2019TBD-2019
Title: Re: 2019 fire cohort
Post by: markbike528CBX on March 27, 2018, 11:21:36 AM
Latest and greatest list rev above.
Title: Re: 2019 fire cohort
Post by: DreamFIRE on March 27, 2018, 03:03:26 PM
Latest and greatest list rev above.
I don't see Eric, Mintleaf, or DreamFIRE on that list.
Title: Re: 2019 fire cohort
Post by: sui generis on March 27, 2018, 04:06:43 PM
I don't know if I can make it, y'all.  I'm staring down 325 more days and it feels like each is more excruciating than the last.  I switched firms about 8 months ago to a place that was supposed to be much more satisfying...and it turns out it is not. It's more challenging (in a not-intellectually satisfying way) and unlike my last job, where the work was predictable and steady, it's chaos around here and I'm constantly worried about whether I will make my billable hours by the end of the year.  I am *almost* at 28.57x expenses (3.5% WR) and if I stick around only to NOT get a bonus in January, I'll be really upset.

Anyone else going through this?  Everyone here (not just on this thread) seems so patient and plugging away until they are at like 80x expenses or something!  Maybe I'm conflating the people that are patient and heavily stache-d with those who hate their jobs.  I mean, I'm new enough here to not know usernames and who hates their jobs vs. who loves them and what people's goals are...but I'm surprised at the relative paucity of posts by people as impatient as me. 

I've been desperately giving myself assignments to complete before RE so that I don't chuck it all out the window, but I'm very tempted!
Title: Re: 2019 fire cohort
Post by: markbike528CBX on March 27, 2018, 04:40:30 PM
Latest and greatest list rev above.
I don't see Eric, Mintleaf, or DreamFIRE on that list.

Missed them.  Please add them yourself or PM me the relevant data.   I'm trying not to have too many copies of the list on one page, as it takes up a lot of space and causes confusion on what is the latest and greatest.

Note that "the greatest" is not used in the way that Muhammad Ali used it as can be seen by the use of lowercase lettering.  :-)
Title: Re: 2019 fire cohort
Post by: Trifele on March 27, 2018, 05:34:42 PM
I don't know if I can make it, y'all.  I'm staring down 325 more days and it feels like each is more excruciating than the last. 

Anyone else going through this?  Everyone here (not just on this thread) seems so patient and plugging away until they are at like 80x expenses or something! 


Ha!  I was feeling exactly like this until last week -- barely hanging on, like I was not going to make it through my last year.  Then Megacorp swooped in to buy my company, and it adjusted my attitude immediately.  Now I feel like I want to make it the next 12 months, to top my accounts off nicely.  It's hilarious.  Maybe you could do a serious thought experiment, like imagine how you would feel if they laid you off next month. Would you be disappointed because you could not make it to the finish line on your own terms, or would you be happy? If you would be happy, then maybe you really are ready to FIRE right now.

And as for the size of the stash, I think I may have one of the skinnier ones on this thread.  I am sitting at less than 25x right now with the market downturn.  I'm going to FIRE anyway, as I have a side gig and a spouse that wants to get back into the workforce. 
Title: Re: 2019 fire cohort
Post by: DreamFIRE on March 27, 2018, 05:55:00 PM
Anyone else going through this?  Everyone here (not just on this thread) seems so patient and plugging away until they are at like 80x expenses or something!  Maybe I'm conflating the people that are patient and heavily stache-d with those who hate their jobs.

Well, I don't hate my job, but you may have seen me mention that I was at 81X a page back, but that was based on my current barebones without accounting for higher healthcare costs or any extra for fun/travel.  Factoring in ACA based premiums/out-of-pocket, I'm more like 63X.  Throw in significant entertainment/travel, and I'm at 25X.  Those figures were in that same post, though.

I'm trying to be patient with 14 months to my target, but what makes it a little tough for me is knowing that I could call it quits now with pretty much no fear of running out of money. I could drop my WR to less than 2.5% of my current stash to protect against SORR if my investments dropped off early during FIRE since I have a large buffer with entertainment/travel that I could cut way back on if I felt the need.  So, I could pull the trigger today with relatively low risk.  16 years into FIRE, I could draw SS and live on the same entertainment/travel budget while only needing to draw <2% from my stash, so that adds another layer of protection.  Sometimes at work, I'll start dreaming of FIRE, thinking about what I'll do, where I'll go, where I could relocate to, etc.  But fortunately, it's only temporary daydreaming, and I'm always able to redirect my focus back to work when I need to accomplish something.

So, someone might ask why I am still working.  One reason is due to the uncertainty of the ACA.  Before my FIRE date, the mid-term elections will be history, so I hope the results will give me more optimism about the ACA's future, plus that will allow more time to see developments in the marketplace with insurers heading into 2019.

The other reason I continue to work is because I'm simply not ready to retire.  I would really miss my job if I suddenly pulled the plug today.  If I was working in a cubicle, pushing papers, another corporate drone, and running on the hamster wheel, I would be headed out the door today.  I've worked in office settings not long ago that I wouldn't tolerate today.  But, as of last summer, I have my own office, you know, with actual walls to the ceiling and a door that closes.  I can control the temperature, play music, take breaks whenever I want.  I have a huge amount of flexibility.  And the demands of the job have actually lessened, which gives me plenty of downtime.  To top it off, I'm able to focus more on interesting projects than I had been able to over most of my career.  My stress level is lower than ever.  For over 16 years at my current employer, I could only dream of having it as good as it is now.  This all still feels very fresh to me, and I don't want to give it up yet.  Ending up with another $90K in my stash is an added bonus.

Once summer gets here, I'm going to work very few full weeks through Sept. as I use up most of my benefit time for three and four-day weekends.  I'll probably be anticipating FIRE more by October with 8 months to go.  But even come June 1, 2019, I'm hoping to work 1 to 3 days per week for one year, if my employer is interested.  Due to the budgeting of my position as full time, I don't know if that will fly.  If that's not an option to stay on part time, the chances of OMY full time are pretty low, despite yet another $90K in the stash another year out.  In fact, I might be ready to shelf the part time idea by my FIRE date!
Title: Re: 2019 fire cohort
Post by: itchyfeet on March 28, 2018, 04:31:09 AM
I donít hate my job, but it is exhausting and stressful, and I am not looking forward to the coming 9 months. I want to tap out. If I lost my job today I would be happy, but I am worried about my finances.

We are stuck around 21.5x of what weíd like to be able to spend each year, and going no where this year with Australian stocks and property both going backwards. 

With the extended bull run and high multiples I donít have a huge amount of confidence that 21x is enough. I really wanted to be at 25x plus. We wonít get there this year.

Today the plan remains to push on to the end of the year and FIRE at XMas, repatriate to Australia after some extended travel, and then see how we feel after a year or so break from work. Today, I really donít want to work again, but I also donít want to get to 65 and find I am very short of cash. We could definitely trim  our spending, but equally, more money wouldnít be terrible.

We have an expensive house in Sydney that we need to sell, and once we have the sale proceeds in our bank account that will provide greater clarity on where we stand. We wonít be selling until we get back to Australia and tidy up the place as it will have been a rental for the past 6 years and will no doubt need a little TLC before being put on the market. As we plan to travel most of next year we wouldnít be selling until 2020, so a lot could happen between now and then.
Title: Re: 2019 fire cohort
Post by: dude on March 28, 2018, 06:54:11 AM
Every day at work is a grind, but I'm so close to that golden parachute that I don't get worked up over it. Everyone in my office knows how short I am, and expects that I'll be putting on the brakes in my waning months. I've been out of work now for going on three weeks (week of vacation + two weeks of convalescence for an injury I sustained on vacation (!)), and boy, despite my boredom as a result of my relative immobility, it's been SO NICE not having to go to the office!
Title: Re: 2019 fire cohort
Post by: sui generis on March 28, 2018, 09:42:40 AM
Maybe you could do a serious thought experiment, like imagine how you would feel if they laid you off next month. Would you be disappointed because you could not make it to the finish line on your own terms, or would you be happy? If you would be happy, then maybe you really are ready to FIRE right now.


Yeah, I would be soooooo happy if they laid me off.  However, I still think I am going to wait to FIRE.  Maybe not until Feb 2019, if it becomes apparent I can't hit my hours for a bonus, but at least 6 months.  I think I need that time to be confident in myself about approaching retirement.  Not so much the finances part, but the everything else part. 

And at this point, it would feel too much like I was acting rashly.  While I have definitely been a saver for a long time, it's only in the last year that I started imagining retiring sometime in the next 3-5 years and then only in the last month or two that I decided it could (and should) be next year, because the job change didn't work out as hoped.  Pulling the plug too fast seems like asking for trouble. 

How I get through the day-to-day of it, though, is the outstanding question.  I'm not even going in to work today, which I think will be good for my mental health, but I'll probably only manage to bill 2-3 hours for the day, which is stressful.  I should work on changing my attitude not to care about how many hours I bill, but I still do really want to get a nice bonus next January to top off my savings.  Which means I may have to go around begging for work, reinforcing the idea that I'm an enthusiastic team player working toward partnership.  I'd really rather fly under the radar for the next 10 months.  Ugh.
Title: Re: 2019 fire cohort
Post by: Chrissy on March 28, 2018, 11:56:40 AM
sui generis, my husband wants to retire NOW.  I'm fine plugging along, but, for him, every day is agony.  We are only at 11x expenses, though gaining quickly.  I hope he can retire at the end of next year, but we just found out we're both taking pay cuts (unless he changes jobs (my job doesn't exist anywhere else)), and we added a kid at the same time, so we'll probably have to migrate to 2020 or 2021.

We're not patient and definitely not waiting to 80x expenses!
Title: Re: 2019 fire cohort
Post by: sui generis on March 28, 2018, 12:08:54 PM
sui generis, my husband wants to retire NOW.  I'm fine plugging along, but, for him, every day is agony.  We are only at 11x expenses, though gaining quickly.  I hope he can retire at the end of next year, but we just found out we're both taking pay cuts (unless he changes jobs (my job doesn't exist anywhere else)), and we added a kid at the same time, so we'll probably have to migrate to 2020 or 2021.

We're not patient and definitely not waiting to 80x expenses!

Ugh, as much as I felt bad thinking so many others were so patient and liked their jobs so much better, I also feel bad knowing there are others as unhappy as me! 

And thanks for also prompting me to stop and consider that I don't have it *that* bad either.  In fact, studying stoicism during this time might be a good pursuit that helps pass the time - especially that technique where you spend a lot of time thinking about terrible things that could happen (like losing your eyesight) in order to step off the hedonic treadmill and newly appreciate the most basic of things you take for granted.  I did, for instance, take a moment yesterday to stop, turn around to look out my office window on a beautiful sunny day, with a not-bad view of a big local bridge, and take a nice deep breath.  It was helpful!  The effect lasted only a few seconds, but hey it's a start right? 
Title: Re: 2019 fire cohort
Post by: TartanTallulah on March 28, 2018, 09:51:55 PM
I don't know if I can make it, y'all.  I'm staring down 325 more days and it feels like each is more excruciating than the last.  I switched firms about 8 months ago to a place that was supposed to be much more satisfying...and it turns out it is not. It's more challenging (in a not-intellectually satisfying way) and unlike my last job, where the work was predictable and steady, it's chaos around here and I'm constantly worried about whether I will make my billable hours by the end of the year.  I am *almost* at 28.57x expenses (3.5% WR) and if I stick around only to NOT get a bonus in January, I'll be really upset.

Anyone else going through this?  Everyone here (not just on this thread) seems so patient and plugging away until they are at like 80x expenses or something!  Maybe I'm conflating the people that are patient and heavily stache-d with those who hate their jobs.  I mean, I'm new enough here to not know usernames and who hates their jobs vs. who loves them and what people's goals are...but I'm surprised at the relative paucity of posts by people as impatient as me. 

I've been desperately giving myself assignments to complete before RE so that I don't chuck it all out the window, but I'm very tempted!

I have days when I wonder how I'm going to make it through another year, but then I remember almost a full year has passed since I first calculated that I could retire in 2019 and I've coped quite well.

My situation is about to improve. We've managed to recruit a contractor whose rates are reasonable and who is keen to join us part time (they're not FIRE, they just enjoy being freelance) and I put my hand up and volunteered to drop my hours to accommodate them. In May and June, at least, I'll be working no more than 36 hours a week spread over no more than four days, which is what I signed up for seven years ago.

I was surprised that some of my current colleagues wrinkled their noses at the suggestion, citing the cost of the contractor as the main reason for objecting. It shows how much I'm currently protecting their precious 36-hour weeks by picking up most of the extra work myself. I suspect they will also question the accounts showing that I'm owed a substantial balancing payment for doing so much extra work, but the stats don't lie - in the last year I worked over 30% more than the next person and didn't take a bigger monthly income.
Title: Re: 2019 fire cohort
Post by: edgema on March 29, 2018, 03:27:05 AM
sui generis - I would hazard that many can relate and certainly I can. Personally about to hit the one year countdown clock and as this is a OMY, I am today staring at the date which was going to be the day of my resignation. Quite hard to blow through it with a smile on my face no matter how much I believe the OMY year makes sense.

I also have a situation with work as we were spun out and merged with a similar business a year ago. It is fairly obvious that around a third of people should be made redundant as the two businesses do exactly the same thing. Although it has taken a year, 'working groups' are now looking at this and consultants are hovering around advising on what the combined company should look like. Tempting fate in that I don't think I am for the chop, but as about half my pay is through bonus (and that is my 50% savings rate) there is some uncertainty about any bonus and therefore the value of doing the extra year. That doesn't help as you point out.

If you are like me the big picture stuff (obviously pretty great in that you less than a year from retiring early) gets swamped by the day-to-day grind of hauling yourself into the office and exhibiting the good corporate citizen persona who is a 'passionate member of the team and in it for the long run'. Perhaps it is obvious, but I do not like my job (perhaps even hate on a bad day) so you are not conflating me with those who are happy enough doing what they do with a great FIRE option on the side. I am jealous of those who can comment that they are already FI at 80x and will only RE when they stop being satisfied. Not me. This is a hard nosed financial exercise, grinding out the days for a better future.

Some coping mechanisms which I think have helped me; Writing an (entirely private) blog/journal. Subdividing the coming year into segments, like making it to your next holiday. Putting some events in the calendar (I like fitness stuff so have a 3 day bike ride in the diary for August). If you are not already, try to start ramping up whatever it is that you want to do with the time you will have after FIRE. For me that keeping up with my running/cycling along with, guitar, learning Spanish, and sailing.

I am not always successful but don't; stare at your countdown clock multiple times a day. re-tweak your financial model for the thousandth time. check your portfolio value again. view the next year as a (gilded) prison term to just clench your jaw against. 

Remember the next year is your life for only one more year. For almost everyone else, this is what they likely have in store for the next few decades. Perhaps I am a bad person and it is certainly not the most zen way of looking at it, but that fact produces a warm glow of satisfaction. Remember - 6 months in to RE you will have had as much 'time off' as you probably had in the previous 10 years!

Good luck and sending out as much empathy as I can!
Title: Re: 2019 fire cohort
Post by: Trifele on March 29, 2018, 03:47:00 AM
@sui generis -- Just saw your other thread about Lawyers on FIRE, and now I have even more sympathy for your situation.  Assume you are at a law firm?  I feel you, my friend -- been there in those hell holes.  If you were further from FIRE I'd urge you to get out and find something else, but if you only have a year to go you may be better off just sticking it out.

One coping mechanism I've been using at work is to use any spare minutes to think about my passions -- the things I am FIREing to.   I'm sort of embarrassed to admit how much time I spend at work researching travel and my hobbies.  And on this forum, lol.  But it keeps me sane.  And I have resolved in this, my final year, to take full advantage of all benefits the job offers -- every perk, every single day off, etc.  I'm going to suck it all dry, and I am not giving even a molecule of anything extra.

Strangely, my new mental detachment and low-output mode is having no ill effects whatsoever on my performance or reviews.  I've received numerous compliments in the last couple of weeks about how calm I am in the midst of our corporate merger chaos, and how I'm the "rock" of our department.   Hahahahahahaha!

I know it's different when you have to track time, but hopefully you can find some way to find some mental peace and detachment at work.  Good luck!  Hang in there. 
Title: Re: 2019 fire cohort
Post by: exit2019 on March 29, 2018, 11:10:05 PM
age 40mumble and target date: march 15 2019
Title: Re: 2019 fire cohort
Post by: Half Stached on March 31, 2018, 08:33:28 AM
Another quarter down:

7/15: 41.6% FI
10/15: 40.1%
1/16: 45.6%
4/16: 50.4%
7/16: 53.7%
10/16: 60.7%* (due to reducing expenses and better modeling, we reduced our FI target from 1.8million to 1.7)
1/17: 63.5%
4/17: 75.3%
7/17: 44.4* (Condo purchase. FI target reduced from 1.7million to 1.3, not including condo.)
10/17: 50.6%
1/18: 56.3%
4/18: 62.3%

The quarter started off with a roar, but things have become quite a bit more uncertain at work recently. I wouldn't be surprised if I engineer a layoff this year. It makes the FI numbers a bit tighter, but since I would get about 5 months of severance, wouldn't be too bad.
Title: Re: 2019 fire cohort
Post by: DreamFIRE on March 31, 2018, 10:46:31 AM
Relevant to another thread last evening, I figured my latest saving rate for 2018 based on my recent pay raise, increase in retirement withholding, and some home maintenance that I need to do outside of my barebones budget allotment.  It looks like I should be a little over 80% savings rate for 2018.  I'm at about 63X barebones right now.  So if the market just hangs on, that will get me to 65X.  If the market recovers recent losses and merely keeps up with inflation, but without any significant gains beyond that, it will get me to about 67X for FIRE barebones.  The difference between 25X and 65-67X is my entertainment/travel and possible re-location budget and gives me some room to cut back my WR if there's a big hit to my investments.  So adding it all up, I'm at 25X for what I'm planning.  It looks like I could reduce my WR to 1.6% to cover barebones if I had to.  Otherwise, I'm looking at a WR rate of around 4% as I begin FIRE in 2019 (assuming that I don't OMY it to get my stash up another $90K to FIRE in 2020 instead.)  This will give me plenty of "fun" money.

Edit:  One other note is that my stash only "needs" to last about 15 years, so even with conservative investing getting 0% real returns, I could use an elevated 6% WR for 15 years.  Beginning 15 years into FIRE, the SS calculator shows SS will cover barebones with $700 extra after taxes.  Of course, I'm not planning for a 6% WR, and I fully expect to still have a sweet stash  to keep my entertainment/travel budget going when I start drawing SS as I will regulate my WR through FIRE using the 4% rule as a guideline and making adjustments based on real returns rather than a fixed 4% + inflation WR with no regard for reality.  Just thinking about this makes OMY or sticking around part time into 2020 difficult to justify.  So I'll stay firmly in the 2019 camp for FIRE.

I'm not factoring in inheritance, home value (& reverse mortgages), or any mooch factors (staying with someone in their home) in to my calculations, but those would make the numbers work even more favorably for me.  I mentioned possible re-location, and I know that can increase the bare bones due to COL changes, but I'm only considering re-locations that are pretty much lateral financially, even if it means downsizing in sq. ft.
Title: Re: 2019 fire cohort
Post by: exit2019 on April 02, 2018, 10:25:41 AM
I don't know if I can make it, y'all.  I'm staring down 325 more days and it feels like each is more excruciating than the last.

this.  I am struggling.
Title: Re: 2019 fire cohort
Post by: VoteCthulu on April 02, 2018, 01:46:35 PM
I don't know if I can make it, y'all.  I'm staring down 325 more days and it feels like each is more excruciating than the last.

this.  I am struggling.
For me, it's mostly a matter of what I can make myself focus on. Some days I calculate the time I have left in calendar days, weeks, work days, work hours, work minutes, etc. and those days seem to grind sloooowly by.

When I can focus on something I want or need to do in the next few days or weeks, my day seems to go much faster.

I'm also taking a lot more out of state vacations this year, which breaks up work a bit.
Title: Re: 2019 fire cohort
Post by: tooqk4u22 on April 02, 2018, 02:37:03 PM
Maybe you could do a serious thought experiment, like imagine how you would feel if they laid you off next month. Would you be disappointed because you could not make it to the finish line on your own terms, or would you be happy? If you would be happy, then maybe you really are ready to FIRE right now.


Yeah, I would be soooooo happy if they laid me off.  However, I still think I am going to wait to FIRE.  .....

I dream of this!  Sure I have FIRE fears like everyone else....running out of money, health care costs, children costs, etc....but I think my biggest fear is fucking it all up (all that we accomplished and setting the course) because I "Decided" FIRE'd.  Completely irrational but if they canceled me then it wouldn't be MY decision and I would have to just roll with it. 

Title: Re: 2019 fire cohort
Post by: DreamFIRE on April 02, 2018, 03:51:05 PM
Just a couple years back, I thought getting layed off would have been good because I wasn't happy with things at work, but things are a lot better now, so I'm just hoping to make it through the next year without any changes that spoil it.

Counting the days makes it seem even longer, so I just think in terms of months....  14 months.  This is the longest part of the year for me - beginning of March through the end of June, because I don't start using vacation days until July through Sept.  So those months will probably go by pretty quickly, and I'll be down to single digits.
Title: Re: 2019 fire cohort
Post by: sui generis on April 02, 2018, 04:18:01 PM

For me, it's mostly a matter of what I can make myself focus on. Some days I calculate the time I have left in calendar days, weeks, work days, work hours, work minutes, etc. and those days seem to grind sloooowly by.

When I can focus on something I want or need to do in the next few days or weeks, my day seems to go much faster.

Yeah, that's definitely one of my problems right now - I have so little to focus on to make the time pass. Work is slow!  While I used to fill this kind of down time at other jobs with spending a lot more time on boards like this, or other interests, this job is really strict on the billable hours requirements so it's actually doubly awful and even harder to distract myself because I constantly need to be chasing work.  And that just reminds me how much I hate it here! 

I trust it will get busier eventually and then I'll be a sourpuss because I hate the actual work, as well.  But maybe the time will be going faster then, which will be a net positive.

Honestly, I don't know how I ended up as this person, but every job I just hate more than the last. Apparently I didn't know how good I had it at my first job out of college (where I spent most of my time surfing the internet and reading about how to stop being a "wage-slave" and "quarter-life crises" and I just keep getting myself into worse and worse (though, thankfully, higher paid) positions.  I honestly feel like something must be wrong with me that I keep thinking the next job sounds and will be better!  And then it's shittier, instead.  That's really why I decided I needed to stop doing JOBS. 
Title: Re: 2019 fire cohort
Post by: Trifele on April 03, 2018, 07:09:24 AM
I've officially passed the one year mark!  One year from now (or less if laid off) I will be officially FIREd.  Man that feels good.  I'm already planning the celebratory travel and activities. 
Title: Re: 2019 fire cohort
Post by: edgema on April 03, 2018, 07:25:40 AM
Me too. My countdown clock in years now says 98.5%!
Title: Re: 2019 fire cohort
Post by: tooqk4u22 on April 03, 2018, 08:02:34 AM
Honestly, I don't know how I ended up as this person, but every job I just hate more than the last. Apparently I didn't know how good I had it at my first job out of college (where I spent most of my time surfing the internet and reading about how to stop being a "wage-slave" and "quarter-life crises" and I just keep getting myself into worse and worse (though, thankfully, higher paid) positions.  I honestly feel like something must be wrong with me that I keep thinking the next job sounds and will be better!  And then it's shittier, instead.  That's really why I decided I needed to stop doing JOBS.

I feel the same way, but bold points are not mutually exclusive - with more money typically comes more demands, goals, stress and more BS work that is further away from the part of the job that you enjoy. 
Title: Re: 2019 fire cohort
Post by: itchyfeet on April 03, 2018, 09:17:24 AM
I've officially passed the one year mark!  One year from now (or less if laid off) I will be officially FIREd.  Man that feels good.  I'm already planning the celebratory travel and activities.

I am down to 9 months, but I distinctly remember the day that I realised that I was within 12months and airline booking systems would let me book my first post FIRE flight. I looked at some prices that day but didnít book. Still havenít. 9 months is still a fair way off and I need to decide where I will take a vacation this summer before I start worrying about 2019.
Title: Re: 2019 fire cohort
Post by: Eric on April 03, 2018, 09:25:29 AM
I've officially passed the one year mark!  One year from now (or less if laid off) I will be officially FIREd.  Man that feels good.  I'm already planning the celebratory travel and activities.

I am down to 9 months, but I distinctly remember the day that I realised that I was within 12months and airline booking systems would let me book my first post FIRE flight. I looked at some prices that day but didnít book. Still havenít. 9 months is still a fair way off and I need to decide where I will take a vacation this summer before I start worrying about 2019.

Huh.  That's something that never even crossed my mind.  There goes the rest of my day!  lol
Title: Re: 2019 fire cohort
Post by: itchyfeet on April 03, 2018, 10:28:27 AM
I've officially passed the one year mark!  One year from now (or less if laid off) I will be officially FIREd.  Man that feels good.  I'm already planning the celebratory travel and activities.

I am down to 9 months, but I distinctly remember the day that I realised that I was within 12months and airline booking systems would let me book my first post FIRE flight. I looked at some prices that day but didnít book. Still havenít. 9 months is still a fair way off and I need to decide where I will take a vacation this summer before I start worrying about 2019.

Huh.  That's something that never even crossed my mind.  There goes the rest of my day!  lol

It doesnít get any more real than booking a flight anywhere you could dream of without having to clear it with the boss first.

You can even just buy a 1 way ticket if you choose, and Worry about when you will return later. Because you will return when it suits you, not when your approved leave ends.
Title: Re: 2019 fire cohort
Post by: sui generis on April 03, 2018, 10:35:11 AM

It doesnít get any more real than booking a flight anywhere you could dream of without having to clear it with the boss first.

You can even just buy a 1 way ticket if you choose, and Worry about when you will return later. Because you will return when it suits you, not when your approved leave ends.

*swoon*
Title: Re: 2019 fire cohort
Post by: Livingthedream55 on April 13, 2018, 09:25:11 AM
We're getting closer peeps!!!!

I am amusing myself planning some frugal vacations for 2018 (which I will really take) and (like others on this thread) daydreaming about where I might go in 2019 once FIREd.

Just discovered Skyscanner.com - it has a feature where you can search from your home city to "everywhere" and then search by "cheapest month" - super fun.  I've found domestic round trip flights for under $80 and international for $200. It's fun to plan itineraries.

Happy Friday!!!
Title: Re: 2019 fire cohort
Post by: mintleaf on April 13, 2018, 09:44:40 AM
Keep the hype alive!

I just landed what will hopefully be my last office job ever. It seems like a nice place, and the salary is quite good, but really it just needs to tide me over for one year until the big move.
Title: Re: 2019 fire cohort
Post by: exit2019 on April 15, 2018, 05:19:26 PM
Class of 2019, what is your post-FIRE plan?

I am 10 months out.  I am nervous.  The math works assuming we get out of the insanely expensive bay area and liquidate the house; that will give us a solid base with which to build a post-ER life.

My job is very demanding - specifically has been extremely demanding for almost two decades.  Over the last 20 years the reality is my wife and I have done very little other than work.  Looking back that was quite a mistake and I have some serious regrets even though in the end it means we will free, really free, after two decades. 

But .. I don't actually know quite what to do once we pull the trigger.  We are going to try to do a thru hike (the timing works nicely and we'll have no ties to anything) and then .. what?  We won't have a home when we finish (or drop out).  We aren't even sure about where we'd like to try living other than some thoughts (somewhere we can have a larger piece of property but which is not overly exurb/rural) and constraints (not Bay Area ever again and honestly probably not CA or anywhere crowded). 

Right now I am so busy with work that about all I have time to do is start gearing up to sell the house and put what we really want to keep in storage.  Right now the plan is we are going to do the sale this summer and rent for the remaining 8-or-so months. 

Beyond that I am just spinning. A lot of people have started to say "have a plan before you get there" but honestly I don't have one or even the idea on how to get one together.  We are both burned out.  We have both been burned out for 5 to 10 years.

Title: Re: 2019 fire cohort
Post by: sui generis on April 15, 2018, 05:51:10 PM
Hi @exit2019!  I'm also in the Bay Area and also have 10 more months!  I hope to do the John Muir Trail next summer and if I enjoy that long on the trail, I'll plan on longer through-hikes.  So maybe I'll see you on the trail, too!

But I'm very definitely preparing for post-FIRE, mostly because I'm terrified I'll fail at it.  I'm seeing a "coach" and have a set of 3 major questions (with sub-questions) I'm working through with her - mostly HOW to think about them to make the RE journey successful.  And I'm researching orgs I want to volunteer with, trying to get more closely connected with head honchos in orgs I already do volunteer with so that I can take on more responsibility, and then have a handful of other things I want to practice - Spanish, meditation and probably at least one new skill amongst plumbing/electricity or cars, just to be a more well-rounded person.  My plan will be very different than yours not only because they always are, but I'll be staying in the Bay Area and RE-ing alone while my partner continues to do work that he loves.

For your situation, it sounds like it really depends on how comfortable you guys are being nomads.  And how confident you are that you know yourself well enough to really give a solid answer to that question.  That seems like the biggest and most urgent question to answer after your through-hike, yeah?  I guess the only advice I would have (and is the advice I'm giving myself) is to give yourselves time to mess up, not like what you're doing, be uncomfortable for a while while you figure out how you want to change, and then take next steps.  The great thing with RE is that you have a lot more time than the "traditional retiree" to figure out what you like, or what you like for right now.  But you shouldn't have expectations that you will find the right pattern or the right lifestyle right away.  One post recently on Our Next Life talked about how you have to practice at being retired, that like learning a new job, you have to learn how to do that, and you probably won't be good at it right away.  Give yourselves permission to be a bit out of sorts for a while.  And maybe you won't be, maybe it'll all come naturally or some amazing opportunity will open up for you the minute you step off the trail, so you won't have to work hard to find your next steps.  But it's good to have realistic expectations at least.
Title: Re: 2019 fire cohort
Post by: DreamFIRE on April 15, 2018, 06:35:07 PM
Exit2019, I'm looking at 13 1/2 months myself.  I would say that you don't need to have a plan.  Plenty of others have FIREd without specific plans.  My situation is a little similar as I'm not sure where I'll end up, although I already live in fairly LCOL area, so I don't necessarily need to leave my area.  I can afford to stay, but I would like to re-locate somewhere that I think I would be happier, even if it's only an hour or two away from where I live now.  I will surely do some traveling once I'm FIREd, but I don't know if I am going to do long term slow travel, get an RV, re-locate in-state, relocate to another state, or just what at this point.  Until I've had time to experience some of the FIRE life, I don't know what I'll do long term.  I might stay on my job part time 1 to 3 days per week, but I don't think I would do that for more than a year, but if so, that will postpone any lengthy travel or re-locating for a while.

Also see this thread, where some of this was discussed:
https://forum.mrmoneymustache.com/post-fire/did-you-know-what-you-wanted-to-do-post-fire-when-you-started/
Title: Re: 2019 fire cohort
Post by: Miss Piggy on April 15, 2018, 06:44:57 PM
Apologies if this has been brought up earlier in the thread.

Are any of the rest of you more than a bit nervous about the economy? I'm a little worried, but it doesn't keep me up at night (yet). I RRRREEEEAAAAALLLLLLYYYYYY want to FIRE next summer (2019), but we'll see what happens between now and then with the stock market. As a backup, I do have a good job right now, and I can stay there longer than planned.

(Part of me wants to also say: Oh, who am I kidding? I'm VERY worried about what could happen with the market.)
Title: Re: 2019 fire cohort
Post by: sui generis on April 15, 2018, 06:56:55 PM
I'm for sure worried about the markets and very unhappy about the volatility 10 months out from my FIRE date.  At the same time, my stash should be big enough at that time to withstand the sequence of return risk that people in our cohorts are facing.  cFIREsim and those calculators show a 97-98% success rate with my range of expected stashes and that includes modeling a number of years where people retired right before big crashes...and modeling it like as if I would do  nothing (no change in w/d, etc) if that happened to me.  So my post-FIRE budget is also elastic enough to cut back a bit or a LOT depending on what happens in the market.  Flexibility is key and my plan has that flexibility built in, so there's almost no way (knock on wood, and I'd never say more than "ALMOST" no way, because this world is CRAZY!) that my plan will change because of money.  I at least feel confident saying that's it *more* likely that my plan to FIRE 10 months from today will change because of some factor other than money.

If anything, I still want to FIRE sooner.  I have that Sunday evening, lead-weight-in-the-pit-of-my-stomach feeling right now :(
Title: Re: 2019 fire cohort
Post by: DreamFIRE on April 15, 2018, 07:38:49 PM

I'm more concerned about the ACA and marketplace over the coming years than I am about the stock market, but if a major drop occurred before I FIRED on the order of 20% or more from the high, that might make me delay retirement another year.  If a drop happened after FIREing, I should be able to deal with it.  My stash is at a level I could cut back to 2% SWR if I felt the need and could still pay my barebones expenses, but I'm also starting to shift more out of stocks to reduce volatility of shaky markets and minimize the loss in a bear market.  When I get my AA right, I'll be more comfortable to FIRE.
Title: Re: 2019 fire cohort
Post by: itchyfeet on April 15, 2018, 09:59:15 PM
We were always going to be a little short of where I wanted to be come this December. And now DW and I have been looking at houses in potential post FIRE locations and we are tempted by slightly more expensive properties than I had factored into my FIRE number.

We still intend to FIRE come December, but I am a little apprehensive.

I am weighing up the options
 - OMY (meh 😕), or half OMY even.
 - Mini FIRE with a short encore workplace appearance in a year or 2 (DW is pushing for this)
 - committing to casual work post FIRE
 - trimming the Post FIRE budget...

All are possible, or a combination.
Title: Re: 2019 fire cohort
Post by: Linea_Norway on April 16, 2018, 01:48:08 AM
We were always going to be a little short of where I wanted to be come this December. And now DW and I have been looking at houses in potential post FIRE locations and we are tempted by slightly more expensive properties than I had factored into my FIRE number.

We still intend to FIRE come December, but I am a little apprehensive.

I am weighing up the options
 - OMY (meh 😕), or half OMY even.
 - Mini FIRE with a short encore workplace appearance in a year or 2 (DW is pushing for this)
 - committing to casual work post FIRE
 - trimming the Post FIRE budget...

All are possible, or a combination.

Just make sure you don't commit to hire fixed costs. Higher price property may also have higher property taxes? A bigger house might have a higher electricity bill.

If DW wants to do some consultancy work for her former employer after FIRE, then just let her. I think I would personally choose the half a year extra work.

And what about looking around for properties a longer and more thoroughly and find that one bargain house for the right price?
Other option: rent out a part of your post-FIRE house.

Or rent a house and wait for the next housing crash, which is unpredictable.
Title: Re: 2019 fire cohort
Post by: itchyfeet on April 16, 2018, 03:54:39 AM
Thanks for the input. We will have to see how things play out.

We wonít buy a house for a couple of years yet, so today itís just a matter of setting a budget based on what we can see in the market. Our FIRE is more fat than lean, so itís not like we wonít have options.

I think most probably we will  both resign from our current jobs at the end of the year, travel for a year or so, and then repatriate to Australia and then potentially get some work if we think itís necessary. Maybe our costs post FIRE will be less than we have budgeted.
Title: Re: 2019 fire cohort
Post by: Trifele on April 16, 2018, 05:27:13 AM
@exit2019 -- Have you read Dr. Doom's posts on FIREing at www.livingafi.com?  He's a great writer, and did an epic group of posts about his decision to FIRE, what he was FIREing to, and what the post-FIRE detox was like.   The other thing I find comforting and helpful is hanging out on the 2018 FIRE Cohort thread.  Those folks are right in the midst of it, and having all the thoughts and emotions that we are just starting to have here.   My conclusion -- our fears are totally normal.  Others have had them too and come through it fine.  So will we. 

I am less than 12 months out now (4/1/19 -- unless I get laid off sooner).  My only small fear about FIREing from a psychological perspective is that I will miss the status of my job.   I have one financial fear as well -- health insurance.   

What I tell myself to quiet those two fears is that I can consider it a work sabbatical.  I will take at least one year off, travel and do all the things I want to do.  Then if I am not happy, I can look for a job. 

Title: Re: 2019 fire cohort
Post by: TartanTallulah on April 16, 2018, 05:45:18 AM
Class of 2019, what is your post-FIRE plan?

I am 10 months out.  I am nervous.  The math works assuming we get out of the insanely expensive bay area and liquidate the house; that will give us a solid base with which to build a post-ER life.

My job is very demanding - specifically has been extremely demanding for almost two decades.  Over the last 20 years the reality is my wife and I have done very little other than work.  Looking back that was quite a mistake and I have some serious regrets even though in the end it means we will free, really free, after two decades. 

But .. I don't actually know quite what to do once we pull the trigger.  We are going to try to do a thru hike (the timing works nicely and we'll have no ties to anything) and then .. what?  We won't have a home when we finish (or drop out).  We aren't even sure about where we'd like to try living other than some thoughts (somewhere we can have a larger piece of property but which is not overly exurb/rural) and constraints (not Bay Area ever again and honestly probably not CA or anywhere crowded). 

Right now I am so busy with work that about all I have time to do is start gearing up to sell the house and put what we really want to keep in storage.  Right now the plan is we are going to do the sale this summer and rent for the remaining 8-or-so months. 

Beyond that I am just spinning. A lot of people have started to say "have a plan before you get there" but honestly I don't have one or even the idea on how to get one together.  We are both burned out.  We have both been burned out for 5 to 10 years.

God sees a plan and laughs ... ;-)

I don't intend to make any definite plans beyond, "Do no work at all for at least 6 months," and, "Keep my professional registration alive for the first 12 months," and, "Don't make any big decisions for at least 12 months." I have never had a proper chunk of time out of work and need to relax and become accustomed to it first. I don't know whether I'll love it or hate it or just contentedly settle into it.

I do have a list of things I'd like to do, one of which, due to a combination of luck, organisation and selfishness, I may be able to make happen this year while I'm still working. Mostly, though, I don't want to go through life never having the feeling of not being obliged to do anything at all.
Title: Re: 2019 fire cohort
Post by: TartanTallulah on April 16, 2018, 05:49:09 AM
Are any of the rest of you more than a bit nervous about the economy? I'm a little worried, but it doesn't keep me up at night (yet). I RRRREEEEAAAAALLLLLLYYYYYY want to FIRE next summer (2019), but we'll see what happens between now and then with the stock market. As a backup, I do have a good job right now, and I can stay there longer than planned.

Slightly, yes. I'm effectively annuitized through a DB pension which I can access any time and intend to access next year, but I also have a chunk of money invested directly in the stock market which is subject to fluctuations and I'm making an effort to build up some cash savings to avoid having to sell at a loss. On the other hand, my husband is a little younger than I am and still accumulating with a 5-10 year timescale, and my son has just started investing in a tracker, so a dip needn't be a bad thing for our family as a whole.
Title: Re: 2019 fire cohort
Post by: dude on April 16, 2018, 06:44:34 AM
Class of 2019, what is your post-FIRE plan?

I am 10 months out.  I am nervous.  The math works assuming we get out of the insanely expensive bay area and liquidate the house; that will give us a solid base with which to build a post-ER life.

My job is very demanding - specifically has been extremely demanding for almost two decades.  Over the last 20 years the reality is my wife and I have done very little other than work.  Looking back that was quite a mistake and I have some serious regrets even though in the end it means we will free, really free, after two decades. 

But .. I don't actually know quite what to do once we pull the trigger.  We are going to try to do a thru hike (the timing works nicely and we'll have no ties to anything) and then .. what?  We won't have a home when we finish (or drop out).  We aren't even sure about where we'd like to try living other than some thoughts (somewhere we can have a larger piece of property but which is not overly exurb/rural) and constraints (not Bay Area ever again and honestly probably not CA or anywhere crowded). 

Right now I am so busy with work that about all I have time to do is start gearing up to sell the house and put what we really want to keep in storage.  Right now the plan is we are going to do the sale this summer and rent for the remaining 8-or-so months. 

Beyond that I am just spinning. A lot of people have started to say "have a plan before you get there" but honestly I don't have one or even the idea on how to get one together.  We are both burned out.  We have both been burned out for 5 to 10 years.

I would say in your situation, don't think about it too much. Your mind is obviously taxed with work, work, work. Retire and just do NOTHING for 6 months to let your mind and body recover, and once it has, I'm sure all kinds of ideas about what to do in Act 2 will appear.
Title: Re: 2019 fire cohort
Post by: Eric on April 16, 2018, 12:15:56 PM
Apologies if this has been brought up earlier in the thread.

Are any of the rest of you more than a bit nervous about the economy? I'm a little worried, but it doesn't keep me up at night (yet). I RRRREEEEAAAAALLLLLLYYYYYY want to FIRE next summer (2019), but we'll see what happens between now and then with the stock market. As a backup, I do have a good job right now, and I can stay there longer than planned.

(Part of me wants to also say: Oh, who am I kidding? I'm VERY worried about what could happen with the market.)

Have you considered adding extra bonds to your portfolio?  I'm not sure I'd go as high as 70% as presented here, but I could see 40-50%.  Then simply spend down those bonds during your first 5-10 years of retirement until you're back at your desired AA.

https://www.kitces.com/blog/managing-portfolio-size-effect-with-bond-tent-in-retirement-red-zone/
Title: Re: 2019 fire cohort
Post by: exit2019 on April 16, 2018, 07:17:22 PM
Thanks for all of the replies.  I thought I would consolidate my responses into a single message.

sui generis, the JMT might be a better choice than what we're planning but we want a significant forced separation from work.  I have been a late-days-and-weekends guy since 1999 (the series of implosions in the valley really hit me hard and my response was to become indespensible; this is not without it's costs) and my wife, a contractor, has been very similar.  We are very very uncomfortable with being nomads but we kind of want to do it for that reason; you should spend some time being uncomfortable now and then.

DreamFire, thank you for the link, I will look through it.  As you I am concerned about the future of ACA; I have two pre-existing conditions which require no treatment or prescriptions but which under the previous regime might have been gotchas for insurance, especially in the ugly issue of recission. 

On nervousness, I am genuinely concerned mostly about imminent recession and healthcare costs.  Healthcare looks like it will be around $1000 to $1300 a month before subsidy in many of the places on our maybe list; healthcare has been growing above inflation for some time and that's quite a serious cost even though it will be lower with subsidy.  The other thing is, selling a house in the bay area will amount to a non-trivial part of our net worth.  Research shows that most of the time, on average, you are better off investing the lump sum right away, but no one lives averages and it's very very hard to consider investing all at once when a recession looks iminent.

Miss Piggy notes similar concerns about the economy.  What goes up irrationally tends to come down.  Once the chinese money stops flowing into bay area real estate, for example, or australia, vancouver, ..., things are sure to crash again. 

Trifele notes the Doctor Doom posts :-) yes I have read them.  I think he's a fine writer and got something out of his posts.  I wish he'd post something more recently.  An ongoing and nagging observation for me is that many many many of the FIRE bloggers are either not RE (monetized blogging), are pending RE, or are just recently RE and often in an unsustainable manner (kids living unsustainably and ungrounded, etc. - lifestyles that will become problematic for almost everyone in the long term), etc.  It would be very comforting to see stories from people who have done it long term without a pension on the side, for example, who really rode the market.

TartanTallulah - good points.

Eric mentioned bonds.  As it is now, we plan to go with a rising equity glidepath; though it is interesting to me that BigERN is not actually doing that with his portfolio despite being the reference for SRW and models for dealing with market downturns in the first few years of retirement (but that is, as like the examples above, because he is not really RE in the sense that he is becoming a full time options trader; I'm not retirement policing but it's interesting to note).  If anyone has not read his series on safe withdrawl rates, and in particular some of his critique of Kitces, it's worth a read ( https://earlyretirementnow.com/2017/12/13/the-ultimate-guide-to-safe-withdrawal-rates-part-22-endogenous-retirement-timing/comment-page-1/ and so on ). 

I will say reading ERN SWR blog postings is one of the areas that gave me peace of mind.  For one thing, his toolkit (part 7) is much better for doing concrete analysis than cFiresim; for another he is one of the few people making the point that target-portfolio-minimum based timing is extremely dangerous because it tends to concentrate people at market tops. We could have pulled the trigger two years ago but the same thought had occurred to me so we did not.

Anyway, thanks for the thoughts.
Title: Re: 2019 fire cohort
Post by: Linea_Norway on April 17, 2018, 06:25:44 AM
On nervousness, I am genuinely concerned mostly about imminent recession and healthcare costs.  Healthcare looks like it will be around $1000 to $1300 a month before subsidy in many of the places on our maybe list; healthcare has been growing above inflation for some time and that's quite a serious cost even though it will be lower with subsidy.  The other thing is, selling a house in the bay area will amount to a non-trivial part of our net worth.  Research shows that most of the time, on average, you are better off investing the lump sum right away, but no one lives averages and it's very very hard to consider investing all at once when a recession looks imminent.

If you are so nervous about the stock market, then I would advise you not to invest the lump sum in the stock market. Put a part in it, if you are comfortable with that. And put another part in bonds or in a high interest account. Consider to buy new portions of stock at later times, to spread your investment.
Title: Re: 2019 fire cohort
Post by: VoteCthulu on April 17, 2018, 11:06:59 AM
I'm moderately worried about healthcare. It doesn't look like either side will have the votes to even try to fix the ACA any time soon, so the cost increases will propably get much worse.

The market I'm actually not worried about. This break from last year's monster growth spurt seems like a good pause. Earnings should see a bump from the tax cuts, and without a major war breaking out (trade or bullet) the market looks ok for now.

What might happen 5 or 10 years down the road is anyone's guess, but that's why we need contingency plans. Mine include going back to work, getting a roommate, and then ultimately putting everything I have left on red.
Title: Re: 2019 fire cohort
Post by: sui generis on April 18, 2018, 11:58:05 AM
Although I'm new here, probably about 90% of my posts have included something about how much I hate my job, so to the extent you've seen my username before, you probably already know that.  Well, by 9:30am this morning, I had two amazing experiences the combination of which, so close in time, is more validation than I've had in many, many years.  First, we closed a big deal this morning and one of my co-workers literally emailed me these words:

Quote from: coworker
I’m so glad you were on this deal.  It would not have closed without you.  :)

I mean, it feels like people so rarely go out of their way to say such nice things, I didn't believe this email.  I started to respond and then I had to keep checking the original email.  Was she sending this to someone else and just copied me?  Am I positive I'm interpreting this right?  How embarrassing if I responded for myself if I had just been the person copied!

And then shortly thereafter, I received an email from a client we do pro bono work for that I was selected as one of its Volunteers of the Month (and I have to write an article about myself for their newsletter by tomorrow COB.  Ha!)

It does feel nice, but I've been contemplating it all off an on for the last hour or so and it's not enough to change my attitude about this job or work more broadly.  So I guess that's good - it would be pretty bad if a tiny bit of positive feedback had me second guessing my FIRE plans, yeah?  I guess if anything it reinforced my FIRE plans because it has me thinking how confusing it is that my work on that deal was special to someone (what are people doing on other deals if my pretty-standard work on this one was so important?) and what a sort of poor experience my working with this volunteer org has been (there's no guidance/training and I haven't had much success assisting their clients). 

This sort of external validation used to really, really, really matter to me.  If it's a little less important to me, I hope that means I get my value more from within myself, which I think will be important in FIRE.  I hope that's at least part of it, and not just that I never cared in the first place if someone gave me positive feedback on the equivalent of being great at washing dishes (my most hated chore).

Title: Re: 2019 fire cohort
Post by: edgema on April 19, 2018, 02:50:12 AM
Answering an earlier question on post FIRE plans. I am at the tail end of 20+ years in a career which has been financially rewarding, but quite mentally tough, so I really want to reward myself for knuckling down, particularly over the hardest bit of the past 5 years. Family of 4 with a 7 and 6 year old and we are weighing up two options;

1) Buy a c.45 foot sailboat, take the kids out of school for a year, and sail the Med / Caribbean. If it works just carry on  to the Pacific (my secret plan but not signed off on yet). 
2) Pack in a decade's worth of bucket list trips into the first couple of years. Sailing, RVing, camping, adventure motorbiking, etc. Not sit around a pool stuff, but getting out into the world. 

I worry about the expense of 1) but like the idea of the personal challenge of doing it (we know the sailing life so not going in blind). There would be no 'what do I do today', if soon after RE we start the process of finding, buying, fitting out, planning and executing such a trip. A little (OK a lot!) scared of 24/7 with the kids and homeschooling, but life is also about challenges! Spending more time in 6 months with our kids than many parents will for their entire childhoods feel like an incredible privilege, even though there will clearly be many moments I contemplate the tragic 'accident' of tossing them over the side..... 

Regarding 2), I worry that a string of holidays, however adventurous, might leave me a bit empty as we have all probably read that overcoming challenges is a big part of life satisfaction. That said, think of the incredible trips! For example, I have always wanted to motorbike around South Africa / Namibia.   

There is also an environmental aspect of 1) being light consumption slow travel where we will see some great things but also some difficult sights (ocean plastic) which I dearly want my children to experience. Hack back at the hedonic adaptation and lead a simpler (albeit very fortunate) life. On 2) the nub of it is that they are just some spoilt urchins who go on more holidays than their friends!

Well as of Thursday 19th April it seems I have re-convinced myself of option 1)! Cue the inner accountant (for some reason mentally dressed as a butler) to enquire whether FIRE might just all be an illusion and 'Sir' might simply be having a mid-life crisis, giving up a very well paid job to simultaneously buy 'a hole in the water to throw money into'....

Anyhow, excited about either option but, as might be obvious, also 'struggling' to commit to either. 11 months to work it out. Anyone else have cruising in their post FIRE plans?
Title: Re: 2019 fire cohort
Post by: Trifele on April 19, 2018, 05:06:01 AM
Anyhow, excited about either option but, as might be obvious, also 'struggling' to commit to either. 11 months to work it out. Anyone else have cruising in their post FIRE plans?

I love the plan Edgema! Go for it.  We don't have cruising in our plans, but lots of slow travel and camping -- yes.  I wanted to do 6 months on the road immediately post-FIRE, but DH and our two kids are balking a bit.  Buncha travel wimp homebodies.  :)   We are currently negotiating on how long we will be gone.   I think we might start with a one month trip (Europe), and then see what they are willing to do after that.

We've been homeschooling for years, FWIW, so no transition to navigate there. 

If we travel a bit and then they are done, I could always continue on solo walkabout.

Title: Re: 2019 fire cohort
Post by: edgema on April 19, 2018, 06:23:58 AM
Thanks Trifele. I am a bit of a travel wimp homebody which is part of the appeal of sailing as you take your 'home' with you. By day you are 'discovering the world' but by night you can be a homebody, cooking up a feast and watching a movie with the kids. Pretty certain we would struggle with extended travelling without a home base, although that can of course be achieved in other ways than a boat. Sat in my office right now looking at the sunshine so all I know is that I want to be outside a lot!

Good luck with your travel plans.
Title: Re: 2019 fire cohort
Post by: Cornbread OMalley on April 21, 2018, 11:56:10 PM
Been awhile since I updated in this thread.

I've been biding my time and trying to figure out the proper moment to announce to the boss my intent to retire.  A few months ago I thought March 2018 was the window but changed my mind for some reason (can't remember what caused me to delay).  But now I think I have another window: last week of May 2018.  The boss received another assignment and will be leaving in June.  Plus I think I've worked hard enough for the boss, and he sees me in a good light.

I plan to do an office call with him sometime during the last week of May to tell him I'm requesting retirement.  I will need his signature on a few preliminary documents to start the retirement process.  Then in August 2018 I can start the year-long retirement process when I submit all the paperwork for my formal request to retire from the military.
Title: Re: 2019 fire cohort
Post by: dude on April 22, 2018, 06:32:21 AM
Outstanding, Cornbread!  Enjoy that pension (and health care) -- anyone who can stick it out 20+ in the military deserves every penny of it! I wish you all the best in your transition to civilian life/retirement!
Title: Re: 2019 fire cohort
Post by: Cornbread OMalley on April 22, 2018, 09:06:30 AM
Class of 2019, what is your post-FIRE plan?

I am 10 months out.  I am nervous.  The math works assuming we get out of the insanely expensive bay area and liquidate the house; that will give us a solid base with which to build a post-ER life.

My job is very demanding - specifically has been extremely demanding for almost two decades.  Over the last 20 years the reality is my wife and I have done very little other than work.  Looking back that was quite a mistake and I have some serious regrets even though in the end it means we will free, really free, after two decades. 

But .. I don't actually know quite what to do once we pull the trigger.  We are going to try to do a thru hike (the timing works nicely and we'll have no ties to anything) and then .. what?  We won't have a home when we finish (or drop out).  We aren't even sure about where we'd like to try living other than some thoughts (somewhere we can have a larger piece of property but which is not overly exurb/rural) and constraints (not Bay Area ever again and honestly probably not CA or anywhere crowded). 

Right now I am so busy with work that about all I have time to do is start gearing up to sell the house and put what we really want to keep in storage.  Right now the plan is we are going to do the sale this summer and rent for the remaining 8-or-so months. 

Beyond that I am just spinning. A lot of people have started to say "have a plan before you get there" but honestly I don't have one or even the idea on how to get one together.  We are both burned out.  We have both been burned out for 5 to 10 years.

I would say in your situation, don't think about it too much. Your mind is obviously taxed with work, work, work. Retire and just do NOTHING for 6 months to let your mind and body recover, and once it has, I'm sure all kinds of ideas about what to do in Act 2 will appear.
I've read this advice also in the various RE blogs and articles I find on RockStarFinance.  The mind is much different when it is relaxed and the body fully recharged.
Title: Re: 2019 fire cohort
Post by: Cornbread OMalley on April 22, 2018, 09:18:35 AM
Outstanding, Cornbread!  Enjoy that pension (and health care) -- anyone who can stick it out 20+ in the military deserves every penny of it! I wish you all the best in your transition to civilian life/retirement!
Thanks, dude!  I'm part of the last generation of the legacy pension program.  The Blended Retirement System (BRS) is in effect as of 2018.  I've read a little on the BRS but haven't committed the facts to memory.  I'm grandfathered in the old High-36 program.

I talked to my mom a week or so ago and brought up the idea of a cross-country trip.  It's the cross-country trip she never got because she spent her life working to set me up for success in life.  So I suggested a leisurely trip driving to the east coast and then north towards Maine.  All expenses paid by me.  Mom really loves the idea, and the tentative time frame for the trip is spring 2020.
Title: Re: 2019 fire cohort
Post by: Lews Therin on April 24, 2018, 12:48:38 PM
I'm joining you all from the 2020 Cohort!

I started with the 2025, then realized I could cut it down to 2020, and now due to a new program offered to military members in Canada that are leaving, I get to cut another year off!

My Fire date would be 1st of August, or a random date in the fall if I decide to push it forwards by taking a period of leave without pay. (Same amount of time working, I might just want to take the summer off, and then work in the fall instead)

I've made it faster by A)Increasing SR due to banking all increases since 2014, B)getting a roommate  C)learning that I have access to a program that will pay for 1/2 my FIRE expenses for 4 years if I leave after 12 years in the military (Aug 2019 :D )
Title: Re: 2019 fire cohort
Post by: VoteCthulu on April 24, 2018, 01:13:35 PM
Welcome to the 2019 club!

Do you have any big post FIRE plans? If I was retiring from the military I'd probably take some interesting college classes under the GI Bill.
Title: Re: 2019 fire cohort
Post by: Lews Therin on April 24, 2018, 02:07:42 PM
I'm going to take a carpentry course, possibly electrician too. And then some type of accountancy university class if I am still motivated. (On-line would be perfect)
Title: Re: 2019 fire cohort
Post by: sui generis on April 24, 2018, 02:12:02 PM
I'm going to take a carpentry course, possibly electrician too. And then some type of accountancy university class if I am still motivated. (On-line would be perfect)

I want to do something similar!  I'm thinking I really want to develop some plumbing, electrician and/or car maintenance skills.  It would be nice to finally have some practical skills :)  And who knows, like MMM, it may lead to a small business!

I haven't looked for online courses for any of this yet, but presumably there are some.
Title: Re: 2019 fire cohort
Post by: Lews Therin on April 24, 2018, 03:15:39 PM
On-line would be for information purposes (accounting / university degree)

I'd personally perfer to learn carpentry and solid skills like that hands-on.
Title: Re: 2019 fire cohort
Post by: sui generis on April 24, 2018, 03:24:04 PM
On-line would be for information purposes (accounting / university degree)

I'd personally perfer to learn carpentry and solid skills like that hands-on.

I had a lot of success with a (surprise!) plumbing project a few weekends ago using YouTube, but that was for a specific problem rather than a comprehensive start from scratch education.  Maybe will check out my local community college.
Title: Re: 2019 fire cohort
Post by: FIRE 20/20 on April 25, 2018, 09:40:19 PM
Apologies if this has been brought up earlier in the thread.

Are any of the rest of you more than a bit nervous about the economy? I'm a little worried, but it doesn't keep me up at night (yet). I RRRREEEEAAAAALLLLLLYYYYYY want to FIRE next summer (2019), but we'll see what happens between now and then with the stock market. As a backup, I do have a good job right now, and I can stay there longer than planned.

(Part of me wants to also say: Oh, who am I kidding? I'm VERY worried about what could happen with the market.)

Yes and no.  My logical side says that I have so much flexibility and so many back-up plans that I should be fine unless things are significantly worse than they've been throughout history.  Essentially, I expect to hit 25x spending around September 2018 assuming the markets return around 0%.  I'm planning to work at least half a year beyond that and in that time I should be able to save more than 1 year's worth of spending while taking out nothing from my stache.  As far as the stache is concerned, that's like retiring with 25x and then adding 1.5x on top.  In addition, our spending level has quite a bit of slack so we should be able to cut significantly if needed.  I'm also working out the details of coming back to work part-time as a consultant, and I expect that I probably will do a bit of consulting so my first year or two so I might not require any stache withdrawals.  In addition we both have small pensions and the 25x ignores future Social Security and possible inheritances.  If things still look bad I think we both have great reputations at work and should be able to get another job in a few years if we really needed to.  With this plan, it shouldn't matter at all if the market collapses tomorrow; I'll still be ready to retire next year regardless of what happens in the markets. 

The illogical side reads that and realizes that if the markets do drop 20%, 30%, or more there's no way I'll feel like the paragraph above in any way justifies turning off the firehose of money that my employer keeps spraying in my direction.  I don't make as much as many people on this board, but it still feels like I'm vastly overpaid for what I do, and if I quit and need to come back I won't command anywhere near the salary that I make now.  I feel like I shouldn't shut off the firehose until I am well above the numbers that I'd need to hit to see 100% on cFireSim. 

And then the logical side kicks in and around I go...
Title: Re: 2019 fire cohort
Post by: 2Birds1Stone on April 26, 2018, 06:10:29 AM
Apologies if this has been brought up earlier in the thread.

Are any of the rest of you more than a bit nervous about the economy? I'm a little worried, but it doesn't keep me up at night (yet). I RRRREEEEAAAAALLLLLLYYYYYY want to FIRE next summer (2019), but we'll see what happens between now and then with the stock market. As a backup, I do have a good job right now, and I can stay there longer than planned.

(Part of me wants to also say: Oh, who am I kidding? I'm VERY worried about what could happen with the market.)

I'm in the same boat, though I will NOT be at 25X expenses when pulling the trigger.

If the market does continue to decline through out the rest of 2018 and into 2019 then we will accumulate quite a bit of shares at lower prices than current.

At that point you have to make the choice with the information and situation you personally face. I have a feeling that if the economy tanks but I'm still employed and making a relatively high income, it might be tempting to take advantage on suppressed prices on things like real estate investments, and sailboats ;)
Title: Re: 2019 fire cohort
Post by: Lews Therin on April 26, 2018, 07:19:58 AM
My thinking is that since I'm so close to FIRE, and even if I'm below 25x in 2019, it will take so little extra to cover the full year's expenses that I'd rather aim for rare/short part time work at something relaxed and easy-going, than continue to remain at my full time work.

Even if the market crashes 50%, then I only have to make even to cover the shortfall, which is surprisingly small when all the dividend payers are taken into account.
Title: Re: 2019 fire cohort
Post by: sui generis on April 26, 2018, 11:21:18 AM
Work has been soooo slow lately.  The tax bill really did a number on my practice area.  Well, that and the uncertain economy overall.  So I've billed a total of just over 6 hours this week so far.

I've had boring jobs before, but not where I needed to track/bill my time so closely, particularly for bonus eligibility.  So I know how to use my time at a boring job (I'm here aren't I?!) but I have much more anxiety hanging over my head than usual about it.  But other than that, I'm actually enjoying it because I'm using the time to work on some projects I like better, including preparing (mentally) for my RE (inasmuch as that can be called a "project").  In fact, I feel busier than ever with all these things and am dreading the time that will inevitably come when I get more assignments.  I mean, the last 3-4 weeks, as I've wrapped up deal after deal and not gotten replacement assignments, actually feels like I'm getting ready to leave, and of course I am in fact mentally getting ready to leave, so I think this is contributing to this fantastic mood I've been in, especially in the last few days, where I feel like RE is so close and I can feel what it's like to start working on and enjoying things I am interested in, etc.  So it's gonna be a harsh, harsh reality when I get new assignments and especially if business really picks up again and I have to work like crazy.  And can't do any of the things I'm working on and planning to do right now.

Honestly a not insignificant part of me is saying, "Maybe we should just quit now, yeah?  Why even go through that?" and another part of me is like, "You are totally right, you smarty pants you!"  And then another part of me is like, "You guys, we promised!  We made a commitment!  No crazy moves.  We can do this!"  And then, everybody else in there is like conflicted and thinking about calling a referendum and, I don't know, there might be riots.  And that's totally normal that there are crowds in my brain threatening riots, right?  LOL. 

But seriously, I haven't been around long and pretty much only read this and the 2018 thread (as far as cohort threads go), but it feels a lot more like people end up adding on a little time or getting sucked back in through some interesting or lucrative opportunity, rather than cutting the cord several months early suddenly.  Maybe I've missed some, though.  It seems imprudent, but it's a live question for me.
Title: Re: 2019 fire cohort
Post by: exit2019 on April 27, 2018, 07:22:34 PM
Severe, severe senioritis.  it's hard to even pretend to care.
Title: Re: 2019 fire cohort
Post by: CryingInThePool on April 29, 2018, 01:22:35 PM
+1 on the Senioritis.

I'm struggling with a combo of low shits to give on the job and and a ramping up of spending as I try to fund a few more things while working in terms of both purchases and travel upgrades that is making me doubt my departure date.

It's challenging for me to find the middle ground between realities of funding certain purchases while working and lifestyle creep.  I feel like it's making it mentally harder to consider walking away as outside of tax advantage savings I'm mostly focused on building up or spending cash and not so much on savings to hit a number anymore. 

It was always in my plan to increase spending on a few strategic things/trips and build stronger cash buffer as I came into my last year or so work, so in that sense I feel on track for 2019.  However,  this saving to spending transition is making OMY seem like a totally acceptable step.  As work has got less stressful/I've stopped caring and I've started enjoying spending money again it definitely feels like a danger zone.

Anybody else feeling this conflict?  I already felt like I did my OMY and put to rest my 'what if I don't have enough/health care' fears and just wasn't expecting another round of doubts based more on indulgences.

Title: Re: 2019 fire cohort
Post by: DreamFIRE on April 29, 2018, 07:09:34 PM
No conflicts here.  I've already hit my number and have nice cushion.  While I'm planning a 4% SWR, my current stash level at a 2% SWR would allow me to pay barebones expenses with a few hundred dollars extra per month.  So at 4% SWR, that provides more than double my actual needs so that I can engage in more entertainment and travel options.  Then there's the re-location possibility.

Barring any negative changes in the ACA or a plummeting stock market, I expect to FIRE in May/June 2019.  Those things are out of my control, although I'm moving to a more conservative AA as I near FIRE to reduce volatility of my investments and help protect against SORR.  OMY isn't completely off the table.  I don't know if I'll feel like working part time at all by that point, but it's a possibility.

In the meantime, I'm still saving as much as ever, possibly 80% this year.
Title: Re: 2019 fire cohort
Post by: oldtoyota on April 29, 2018, 08:13:33 PM
Keep the hype alive!

I just landed what will hopefully be my last office job ever. It seems like a nice place, and the salary is quite good, but really it just needs to tide me over for one year until the big move.

That is so exciting! To know it's the last one must feel quite good. =-D
Title: Re: 2019 fire cohort
Post by: oldtoyota on April 29, 2018, 08:17:53 PM
Class of 2019, what is your post-FIRE plan?

I am 10 months out.  I am nervous.  The math works assuming we get out of the insanely expensive bay area and liquidate the house; that will give us a solid base with which to build a post-ER life.

Beyond that I am just spinning. A lot of people have started to say "have a plan before you get there" but honestly I don't have one or even the idea on how to get one together.  We are both burned out.  We have both been burned out for 5 to 10 years.

If you are busy at work now, what if you just don't make a plan? It sounds like you have *some* of a plan, which is to hike. Do that.

When you are free, you and your wife and can simply...relax. Sounds like your mind and body might need time to recover and recuperate. If it were me, I would take simple walks, focus on healthy eating, and see friends I'd not seen in a while.

Then, I would start trying things. Imagine you are conducting short tests as you see what you do and don't like.

--Volunteer at the airport, hospital, library
--Start a group of some kind (Meetup or something else)
--Test out different hobbies--cooking, painting, writing, gardening, biking, hiking. Keep testing until you find something you like a lot and then create a social life around it.

That's what I would do!

I think people think they need a big plan, but you don't. You can conduct tests, have conversations, focus on ensuring you have some social aspect, and figure it out as you go along.
Title: Re: 2019 fire cohort
Post by: Trifele on May 01, 2018, 06:34:43 AM
Another month down.  11 to go. 

I am struggling.  Weird combination of severe senioritis, and stress from the current environment at work (we are being acquired by Megacorp).  My current work stress is less than the people who don't have a stash and for whom a layoff would be catastrophic, but it's still stressful.  I've already had to pick up a bunch of work from someone who quit last week, and who won't be replaced.  [sigh]  It's probably only the beginning; people are starting to quit rather than stick around and wait for a layoff. 
Title: Re: 2019 fire cohort
Post by: Livingthedream55 on May 01, 2018, 07:01:44 AM
Another month down.  11 to go. 

I am struggling.  Weird combination of severe senioritis, and stress from the current environment at work (we are being acquired by Megacorp).  My current work stress is less than the people who don't have a stash and for whom a layoff would be catastrophic, but it's still stressful.  I've already had to pick up a bunch of work from someone who quit last week, and who won't be replaced.  [sigh]  It's probably only the beginning; people are starting to quit rather than stick around and wait for a layoff.

I hear ya Trifele. It's a tough place to be in knowing that you are financially just fine while others around you are in real financial panic. Plus the additional work that gets handed off to the "lucky" survivors - not fun.

I too have senioritis; I can't imagine how much more it would be compounded if my workplace was going through an acquisition at the same time.

The next 11 months will give you an opportunity to learn to set limits around workload and project management. I had to practice this in a former workplace. Basically my script was:  "Hey boss, here are my current 10 projects with the amount of time I estimate it will take to complete them - which ones are the priority and in what order would you like me to work on them?"

You need to practice extreme self care. Take time off when you can, eat healthy, get some fresh air and exercise, practice some deep breathing or mediation. Make a gratitude list every day.

Maybe you'll get a layoff with a fat severance package???   : 0 )

 
Title: Re: 2019 fire cohort
Post by: Trifele on May 01, 2018, 12:06:11 PM
Thanks LivingtheDream -- good advice.  I got to start setting limits today.  A coworker in another division called me this morning and told me I was being named to head up a big new project group.  I just said "No, I can't do that.  I'm glad to help, but I do not have the bandwidth to lead it."  Man that felt good.

You hit the nail on the head with the need for self care too.  I've been having TMJ pain and migraines, and I am going to dial back on the work until I get that under control.  They will just have to be happy with what I am able to give . . .
Title: Re: 2019 fire cohort
Post by: sui generis on May 01, 2018, 12:18:06 PM
Thanks LivingtheDream -- good advice.  I got to start setting limits today.  A coworker in another division called me this morning and told me I was being named to head up a big new project group.  I just said "No, I can't do that.  I'm glad to help, but I do not have the bandwidth to lead it."  Man that felt good.

Good on you!  It's so easy to say that's what I *would* say if needed and so hard to actually do it.  You did it!
Title: Re: 2019 fire cohort
Post by: itchyfeet on May 02, 2018, 12:48:17 AM
April was a good month for me financially. The stash is still building nicely and we have now passed 22.5x our post FIRE budget.

Also, in April I snuck over to Sri Lanka for a few days with friends which was great for fueling the imagination of what post FIRE travel could be.

Sri Lanka is one of those places where you could really kick back and take it easy for a while on a modest budget. The food is so good, and the people so friendly. It was a crime that work commitments meant I could only stay a few short days. Thankfully I wonít be wage slave for much longer!!

....... thatís if I donít get cold feet..... hahaha
Title: Re: 2019 fire cohort
Post by: dude on May 02, 2018, 06:04:34 AM
On Monday (May 7), I'll go under one year to retirement. Only reservation I have is I sure wish the market would have tanked by now. If it stays at current levels, even if flat for the year, the odds of a negative sequence of returns are pretty high. Will have to adjust withdrawal plan accordingly.
Title: Re: 2019 fire cohort
Post by: dude on May 07, 2018, 08:41:39 AM
And May 7 is here. Today starts the one-year countdown to my retirement eligibility/FIRE date. Damn, one year!  Can't hardly believe it!
Title: Re: 2019 fire cohort
Post by: Eric on May 07, 2018, 09:38:41 AM
And May 7 is here. Today starts the one-year countdown to my retirement eligibility/FIRE date. Damn, one year!  Can't hardly believe it!

I predict that it will be here before you know it while simultaneously taking forever.  The human mind is weird like that.

And I think my goal will be to quit on May 1, just so I can get the jump on you.  :)
Title: Re: 2019 fire cohort
Post by: dude on May 07, 2018, 10:13:14 AM
And May 7 is here. Today starts the one-year countdown to my retirement eligibility/FIRE date. Damn, one year!  Can't hardly believe it!

I predict that it will be here before you know it while simultaneously taking forever.  The human mind is weird like that.

And I think my goal will be to quit on May 1, just so I can get the jump on you.  :)

Ha! I just need to keep busy so the time flies by!  Already have several vacations planned this year, so that helps!
Title: Re: 2019 fire cohort
Post by: sui generis on May 07, 2018, 10:25:00 AM
I have a love-hate relationship with the time flying and simultaneously taking forever.  Because of course it takes forever in the work realm.  I swear I've been stuck between 9 and 10 months left for at least 3 months so far.  But it flies in my personal life. I have NO TIME to research all the things I want to have researched before the day comes.  I mean, hopefully I have 4 or more decades of FIRE, so I should have plenty of time *after* but I want to try to get organized for a smoother transition and I feel like I have no time to pay attention to doing that.

In the meantime, my "Sunday blues" is getting worse and worse.  I wake up most mornings - even Saturday and Sunday mornings!, with a hot lead ball in the pit of my stomach.  And way too early, too!  I thought I'd be free of this dread now that I now I'll be physically free of work in less than a year, but it's worse than ever as I feel like I am wasting each day right now.  I'm just too impatient. 
Title: Re: 2019 fire cohort
Post by: Lews Therin on May 07, 2018, 10:38:54 AM
430 days for me...

Not counting at all.
Title: Re: 2019 fire cohort
Post by: exit2019 on May 07, 2018, 09:25:34 PM
278 for me.  tick tock.

I have started alleviating my senioritis by adding different kinds of milestones.  Each month has a milestone.  I have a milestone per 50 days down to the last 100 days.  I have 100 day milestones (two left) and a t-2week milestone.  These are all in Countdown+ on my phone.  I count absolute days, not work days.

Weekends are nice because I don't check it on weekends.  So monday is a jump.

Title: Re: 2019 fire cohort
Post by: Bateaux on May 07, 2018, 09:29:54 PM
Still pondering 2019.  We're 96% of the way to the FI number and 77% of the way to the FIRE number.    I really want to hike the AT in 2019.  I had originally planned for this year but I decided to up the FIRE amount and to cover my youjg adult children with my employer health care.  Dire conditions would need to develop for me to extend beyond 2020.   Good luck with the countdown.
Title: Re: 2019 fire cohort
Post by: 2Birds1Stone on May 08, 2018, 04:23:36 AM
Things are so incredibly crazy at work right now, I have a feeling I might end up losing my job long before my Nov 1st 2019 goal.

I'm paring down my spending dramatically over the coming months to get my trailing 12 month spending <4% of net worth asap, the projected intersection point is still in the fall of 2019, but work can vaporize at any time.
Title: Re: 2019 fire cohort
Post by: itchyfeet on May 08, 2018, 12:48:26 PM
I have been having evil thoughts.

Currently DW and I can almost save 2 years of post FIRE spending every year we work.... this got me thinking....

I we worked just 3 more years the funds earned in those 3 years would fund us 9 years (3 years working, then 6 spending the savings), well actually letís say 10 years given the savings from the 3 working years work would earn some returns.

This means not touching our current stash for the next 10years.

If We didnít touch the stash We have already saved for 10 more years it would most likely be worth double what it is today at the end of 10years. DOUBLE 🤑

3 years more work to double our already decent wealth and retirement income, and Iíd still retire before I turn 50.... hmmm...

Doubling the stash by working 3 years would mean never even thinking about money again, and most likely dying very rich.

This compares to FIREing in December with a high probability that we should be able to afford to do the things most important to us in retirement, with some chance of having to wind back the spending later if stocks perform particularly badly over the next 20years.

Sigh, I donít know how much more of this mental abuse I can dish out on myself.
Title: Re: 2019 fire cohort
Post by: Bateaux on May 08, 2018, 03:38:48 PM
I have been having evil thoughts.

Currently DW and I can almost save 2 years of post FIRE spending every year we work.... this got me thinking....

I we worked just 3 more years the funds earned in those 3 years would fund us 9 years (3 years working, then 6 spending the savings), well actually letís say 10 years given the savings from the 3 working years work would earn some returns.

This means not touching our current stash for the next 10years.

If We didnít touch the stash We have already saved for 10 more years it would most likely be worth double what it is today at the end of 10years. DOUBLE 🤑

3 years more work to double our already decent wealth and retirement income, and Iíd still retire before I turn 50.... hmmm...

Doubling the stash by working 3 years would mean never even thinking about money again, and most likely dying very rich.

This compares to FIREing in December with a high probability that we should be able to afford to do the things most important to us in retirement, with some chance of having to wind back the spending later if stocks perform particularly badly over the next 20years.

Sigh, I donít know how much more of this mental abuse I can dish out on myself.

I've suffered a bit from those same calculations.   Rounding that first million makes things very interesting.   The follow on millions come easier and easier.  The problem is every year worked past 50 puts you at greater risk of having some disease wipe out your future.  My employer has all the benefit packages set up based on retirement no earlier than 55.  I'll be 50 next month and would certainly be able to retire pretty nicely right now.    It's health care that will push me further and further down the OMY path.  The other 800 pound gorilla is there has to be a looming economic slowdown.  It would be nice to ride that out still employed and buy up those lower priced and portfolio multiplying goodies before pulling the plug.
Title: Re: 2019 fire cohort
Post by: dresden on May 08, 2018, 09:14:28 PM
I am looking at either March 2019 or October 2019 @ 52.   I would like to work longer, but just didn't recover from an auto accident 14 months ago and multiple fractured vertebrae and head injury.   I am hoping 12-18 months completely off with less sitting will help me and then I might work part-time some as I had really planned to slow down/reduce hours rather than just retire entirely.

The recent stock market performance made this possible a few years ahead of schedule, but I guess that can change in a hurry.
Title: Re: 2019 fire cohort
Post by: TartanTallulah on May 09, 2018, 12:26:13 AM
327 days left for me. Not that I'm counting. Not that I have thoughts of giving notice now and leaving before the end of the summer.

I've booked a vacation for next April. I wondered if it was too early to book the time off from work, then realised that I wouldn't need to, though I will, as a token gesture and because I live in perpetual hope that something will happen to make my job satisfying and enjoyable again and I'll want to go on working.

Stumbling from one weekend to the next, or sometimes from one bedtime to the next. It could be worse. Twenty years ago I worked nights and weekends too. I don't know how I did it. I do know that if I had my time over again I'd spend those nights and weekends with my family, not at work.



Title: Re: 2019 fire cohort
Post by: Linea_Norway on May 09, 2018, 01:15:42 AM
327 days left for me. Not that I'm counting. Not that I have thoughts of giving notice now and leaving before the end of the summer.

I've booked a vacation for next April. I wondered if it was too early to book the time off from work, then realised that I wouldn't need to, though I will, as a token gesture and because I live in perpetual hope that something will happen to make my job satisfying and enjoyable again and I'll want to go on working.

Stumbling from one weekend to the next, or sometimes from one bedtime to the next. It could be worse. Twenty years ago I worked nights and weekends too. I don't know how I did it. I do know that if I had my time over again I'd spend those nights and weekends with my family, not at work.

We are somehow financially on schedule to go part-time from 2019 and FIRE completely in 2020. The thought behind is that we would have gathered the sum to FIRE in 2020 already at the end of 2018. That would mean that we only have to work enough in 2019 to cover for the cost of 2019.

I am really looking forward to taking a mini sabbatical in 2019, like from May to half October. I hope my job will accept that. Another alternative would be to work 1 or 2 days a week less during that period. I think that they would have to allow that, by law.
Title: Re: 2019 fire cohort
Post by: TartanTallulah on May 09, 2018, 03:02:13 AM
We are somehow financially on schedule to go part-time from 2019 and FIRE completely in 2020. The thought behind is that we would have gathered the sum to FIRE in 2020 already at the end of 2018. That would mean that we only have to work enough in 2019 to cover for the cost of 2019.

I am really looking forward to taking a mini sabbatical in 2019, like from May to half October. I hope my job will accept that. Another alternative would be to work 1 or 2 days a week less during that period. I think that they would have to allow that, by law.

I'm hoping to work one or two days a week less for as long as I can. My colleague who is retiring this summer plans to keep working for us two days a week on a freelance basis until January 2020. I think he'll be gone long before then, but even if he only holds out till the end of August it will make my summer a lot more bearable. We have another freelancer who's keen to work two days a week for us and has just started, and I'm hoping that one works out, and we're interviewing for an associate within the next few weeks. My remaining colleagues have quibbled about how much this will cost, which is ironic because their workload and income will be unaffected; while I've put my life on hold to keep providing a high standard of service, they've continued to drift along doing their three days a week apiece and I'll be the one reducing my workload and income so that we can afford extra pairs of hands. My aim is to bring about a situation in which I won't be missed much when I go.

If everything falls through and it looks as if we'll be short-handed again over the winter, I'll be pulling the plug early rather than waiting until the end of the financial year.
Title: Re: 2019 fire cohort
Post by: DreamFIRE on May 10, 2018, 08:05:39 PM

My stash hit a new record today despite the fact that stocks are still down a ways from the high in January.  Looks like I'm at about 63X FIRE barebones as of today.  That will give me a nice cushion for fun/entertainment/travel/discretionary.  I'm still on-track for June 2019.
Title: Re: 2019 fire cohort
Post by: PhilB on May 11, 2018, 07:19:34 AM
I have been having evil thoughts.

Currently DW and I can almost save 2 years of post FIRE spending every year we work.... this got me thinking....

I we worked just 3 more years the funds earned in those 3 years would fund us 9 years (3 years working, then 6 spending the savings), well actually letís say 10 years given the savings from the 3 working years work would earn some returns.

This means not touching our current stash for the next 10years.

If We didnít touch the stash We have already saved for 10 more years it would most likely be worth double what it is today at the end of 10years. DOUBLE 🤑

3 years more work to double our already decent wealth and retirement income, and Iíd still retire before I turn 50.... hmmm...

Doubling the stash by working 3 years would mean never even thinking about money again, and most likely dying very rich.

This compares to FIREing in December with a high probability that we should be able to afford to do the things most important to us in retirement, with some chance of having to wind back the spending later if stocks perform particularly badly over the next 20years.

Sigh, I donít know how much more of this mental abuse I can dish out on myself.
That sounds very familiar.  I planned to do 3 years @ 2/3rds savings rate past my FI point to give a huge cushion and the possibility to significantly increase spending.  I'm just coming up to the 2 year point, but will be bailing 8 months early as the utility of extra money is diminishing at such a rate.  That's why I defected to the 2018 cohort (but still cheering you guys on).
The really eye-opening thing from having worked on so that I can increase my spending is the discovery that I really don't want to.
Title: Re: 2019 fire cohort
Post by: Lews Therin on May 11, 2018, 07:29:26 AM
There's also the tax optimization of working part-time. Since you will have a much lower income, your $/Hr rate might be closer than you expect to the amount you are making while full-time when you add in taxes.
Title: Re: 2019 fire cohort
Post by: itchyfeet on May 12, 2018, 12:09:38 PM
I have been having evil thoughts.

Currently DW and I can almost save 2 years of post FIRE spending every year we work.... this got me thinking....

I we worked just 3 more years the funds earned in those 3 years would fund us 9 years (3 years working, then 6 spending the savings), well actually letís say 10 years given the savings from the 3 working years work would earn some returns.

This means not touching our current stash for the next 10years....
That sounds very familiar.  I planned to do 3 years @ 2/3rds savings rate past my FI point to give a huge cushion and the possibility to significantly increase spending.  I'm just coming up to the 2 year point, but will be bailing 8 months early as the utility of extra money is diminishing at such a rate.  That's why I defected to the 2018 cohort (but still cheering you guys on).
The really eye-opening thing from having worked on so that I can increase my spending is the discovery that I really don't want to.

Yeah, I really donít want to stay in my current job either.

But we have worked so hard to get to this point it just seems a bit foolish to stop climbing when there is a small risk of sliding back down the hill.

Weíll get past this summer and then take it week by week.
Title: Re: 2019 fire cohort
Post by: 2Birds1Stone on May 12, 2018, 01:49:52 PM
As of last week my net worth cracked 25X bare bones expenses ($15,300)......so my plan to pull the plug next year does not have any margin of safety built in, other than the fact that I know I will have to return to work for a few more years at some point in the future.

Still a cool milestone to hit =)

My ability to be at 25X actual expenses will from this point on be largely up to market returns/declines.
Title: Re: 2019 fire cohort
Post by: sui generis on May 12, 2018, 03:49:28 PM
As of last week my net worth cracked 25X bare bones expenses ($15,300)......so my plan to pull the plug next year does not have any margin of safety built in, other than the fact that I know I will have to return to work for a few more years at some point in the future.

Still a cool milestone to hit =)

My ability to be at 25X actual expenses will from this point on be largely up to market returns/declines.

Congrats!  A great milestone to hit in the FI journey!
Title: Re: 2019 fire cohort
Post by: edgema on May 14, 2018, 06:10:58 AM
PhilB - I wouldn't be so hard on yourself as I suspect many on this forum are constantly doing similar calculations and certainly I am. This is only natural given the magnitude of the decision to stop working and a non scientific 'review' of this forum would indicate that few are stopping at 25x bare-bones, so any discussion is really over what life you want to live and what cushion you want to have.

Obviously the decision depends on your own personality (conservative), risk tolerance (low) and what lifestyle you want (pretty high).

As evidenced by all the threads on OMY (and yours is essentially a 3xOMY argument), most people lean toward conservatism (such at DreamFires's 63x number). Greed is a powerful emotion though so I try very hard not to dress up greed as conservatism though!

Personally, you could argue that I am now 14 months into 2xOMY. Probably wouldn't have wanted to admit it at the time but as I approached the obvious dates for me to hit the button, I clearly knew my stash wasn't big enough for me for me to be comfortable doing it. I am now comfortable in knowing that I want my cushion to be large as I am in a high paying job that I certainly cannot return to in five years and have two young children. I haven't really calculated it but I will be probably 50x bare bones and comfortably 30x a very easy 'budget'. 

Good luck.
Title: Re: 2019 fire cohort
Post by: chasesfish on May 14, 2018, 06:22:26 AM
Is anyone considering buying a second home this year to move to once you retire?

I'm debating doing that late this year.  Current plan is to move there for at least eighteen months and detox from the corporate world.
Title: Re: 2019 fire cohort
Post by: PhilB on May 14, 2018, 06:35:40 AM
PhilB - I wouldn't be so hard on yourself as I suspect many on this forum are constantly doing similar calculations and certainly I am. This is only natural given the magnitude of the decision to stop working and a non scientific 'review' of this forum would indicate that few are stopping at 25x bare-bones, so any discussion is really over what life you want to live and what cushion you want to have.

Obviously the decision depends on your own personality (conservative), risk tolerance (low) and what lifestyle you want (pretty high).

As evidenced by all the threads on OMY (and yours is essentially a 3xOMY argument), most people lean toward conservatism (such at DreamFires's 63x number). Greed is a powerful emotion though so I try very hard not to dress up greed as conservatism though!

Personally, you could argue that I am now 14 months into 2xOMY. Probably wouldn't have wanted to admit it at the time but as I approached the obvious dates for me to hit the button, I clearly knew my stash wasn't big enough for me for me to be comfortable doing it. I am now comfortable in knowing that I want my cushion to be large as I am in a high paying job that I certainly cannot return to in five years and have two young children. I haven't really calculated it but I will be probably 50x bare bones and comfortably 30x a very easy 'budget'. 

Good luck.
There's a significant additional factor in my case to make the calculations even more complicated.  DW and I have pensions coming into payment in 2029 and then state pensions in 2031 and 2033 that, between them, would more than cover our basic needs.  The stash therefore doesn't have to be 25x, it just needs to fill the gap and then any left over can be used to provide an income stream for 'extras'.  This is a great position to be in, but it means that whilst someone on a standard 25x plan would go into retirement expecting that their investment growth is most likely going to keep pace with withdrawals, I'm going in knowing I am going to actually SPEND a big chunk of the capital I've worked so hard to amass.
This means that doing OMY has a real double-whammy.  Not only have you taken out a year of capital burn, but that capital (and the OMY earnings) can be added to the permament drawdown pot which reduces the capital burnt in all the other years too.  As I have a strong desire to leave plenty of money to my kids when I kick the bucket, the idea of intentionally spending several hundred thousand pounds of my capital has been a very hard one to reconcile with!
Title: Re: 2019 fire cohort
Post by: itchyfeet on May 14, 2018, 12:47:56 PM
PhilB - I wouldn't be so hard on yourself as I suspect many on this forum are constantly doing similar calculations and certainly I am. This is only natural given the magnitude of the decision to stop working and a non scientific 'review' of this forum would indicate that few are stopping at 25x bare-bones, so any discussion is really over what life you want to live and what cushion you want to have.

Obviously the decision depends on your own personality (conservative), risk tolerance (low) and what lifestyle you want (pretty high).

As evidenced by all the threads on OMY (and yours is essentially a 3xOMY argument), most people lean toward conservatism (such at DreamFires's 63x number). Greed is a powerful emotion though so I try very hard not to dress up greed as conservatism though!

Personally, you could argue that I am now 14 months into 2xOMY. Probably wouldn't have wanted to admit it at the time but as I approached the obvious dates for me to hit the button, I clearly knew my stash wasn't big enough for me for me to be comfortable doing it. I am now comfortable in knowing that I want my cushion to be large as I am in a high paying job that I certainly cannot return to in five years and have two young children. I haven't really calculated it but I will be probably 50x bare bones and comfortably 30x a very easy 'budget'. 

Good luck.

Bare bones.
- is barebones the minimum you would be happy to live on; or
- is barebones the minimum you could live on... presumably whilst maintaining some semblance of your current life.

Like everyone, we could live on very little. But that is pretty irrelevant to me. I want a bit more than the absolute bare minimum no matter what.

Sure, we could just scrape by on government handouts, others do, but at this point Iíd deem that outcome as a massive failure in my management of my finances. We are just not going there.

So, for me, bare bones is an amount Iíd be ok with if things dont play out as Iíd wish. My definition of bare bones would include a modest house I like, a modest used car I like, a little spending money for meals out and domestic travel, enough money to buy family gifts on their birthdays, and enough to eat what I want at home. Iíd say we are about 50x that kind of bare bones today.

This is a good place to be, but unfortunately I have a good imagination and can dream of what Iíd do with more money. Substantially more money. If my stash was 50% bigger, so 75x comfy barebones we could still spend it.... or at least have a big chunk tied up in non income producing real estate.

At some point one just has to call enough. I am finding this extraordinarily difficult.

I am really thinking I wonít hand my notice in during September as I had planned. DW is not happy with me.

Title: Re: 2019 fire cohort
Post by: Trifele on May 14, 2018, 07:10:01 PM
For me, 'barebones' is the bare minimum to live on -- eat, pay taxes, buy health insurance and gas for the car -- but not extras like travel.
Title: Re: 2019 fire cohort
Post by: DreamFIRE on May 14, 2018, 09:11:50 PM
Bare bones.
- is barebones the minimum you would be happy to live on; or
- is barebones the minimum you could live on... presumably whilst maintaining some semblance of your current life.

Like everyone, we could live on very little. But that is pretty irrelevant to me. I want a bit more than the absolute bare minimum no matter what.

Sure, we could just scrape by on government handouts, others do, but at this point Iíd deem that outcome as a massive failure in my management of my finances. We are just not going there.

So, for me, bare bones is an amount Iíd be ok with if things dont play out as Iíd wish. My definition of bare bones would include a modest house I like, a modest used car I like, a little spending money for meals out and domestic travel, enough money to buy family gifts on their birthdays, and enough to eat what I want at home. Iíd say we are about 50x that kind of bare bones today.

This is a good place to be, but unfortunately I have a good imagination and can dream of what Iíd do with more money. Substantially more money. If my stash was 50% bigger, so 75x comfy barebones we could still spend it.... or at least have a big chunk tied up in non income producing real estate.

Barebones is for necessities.  That excludes vacations and eating out.   Those are luxuries.  Reasonable gifts are still included in my barebones.

Some people only include shorter term expenses for barebones to get them by on a temporary basis, but I include both short term and long term expenses in my barebones - the things that I must account for if I was living on barebones for years.  I don't plan to get by on just barebones, but I like to track my barebones for a couple reasons.  One, it lets me calculate how much my stash can deliver for discretionary spending beyond my basic expenses, so I'll know how much extra money I'll have just for having fun during FIRE.  (Stash * 4% - (BB+taxes) = FUN).  And two, it lets me know what I could cut my drawdown back to if needed and still get by as I currently do minus the extras/luxuries.  I would hope to never be in a position to have to deal with that second reason, but at least I know all the numbers.

While I'm at 63X "FIRE" barebones (closer to 80X my current barebones), I don't plan on a <2% WR.  I still plan to have a flexible 4% WR barring a crash of my investments.  The amount beyond barebones is for entertainment/travel/discretionary and to cut back if I feel the need.    So sitting at 63X BB is just more gravy - close to $30K/yr extra beyond necessary expenses - not bad for a single person.  My FIRE date is set a year off for a few other reasons, not because I'm trying to increase my stash at this point.  If I OMY it beyond 2019, it may be more stash/spending related at that point.  I'm not used to spending a lot of dough on luxuries, so I'm not sure if I'll really spend 4%, but who knows what all I'll feel like doing when I FIRE when I finally have the freedom for it.
Title: Re: 2019 fire cohort
Post by: 2Birds1Stone on May 15, 2018, 04:24:58 AM
The way I define my barebones ($15,300/yr) spending is covering the bare necessities, plus some luxuries like a gym membership, a beater car, adequate insurance, and some misc spending.

In my case it breaks down like this

$550 Rent + Utilities (my half)
$150 Food
$150 Health + Hygiene
$150 Transportation
$100 Entertainment
$50 Cell Phone
$50 Gym/Sport
$75 Misc
$1,275/month

If my landlord sold the house we rent this basement apartment in, we would likely not find such a good deal again.

Healthcare could be much higher than $150/month, given that I am not confident in the ACA subsidies being around forever (though Medicaid is an option I suppose).

I could live a modest lifestyle, and if I were to supplement with even a minimum wage job 2-3 days a week, pretty darn comfortably. So while I'm not at the spending level I intend to live on the rest of my life, I consider myself barebones FI at this point.
Title: Re: 2019 fire cohort
Post by: edgema on May 15, 2018, 04:50:40 AM
Hi itchyfeet.

That is why I haven't calculated a true bare bones multiple (however one defines it) as it is quite irrelevant to how we want to live our lives unless it was forced on us. My focus has been much more on solving for the life we want to live and having a good financial buffer on that.

That said, our approach is pretty mustachian-lite, if it is even that, solving for big things like house and car but quite relaxed on the rest. Our version of setting up for FIRE has been essentially structural in that we moved from HCOL area (near London) to a L/MCOL (Devon) and this has led to a change in the people we spend time with and what they do with their time/money. From high earning, high spending Londoners, to people with good but lower earnings and spending. Conversations with friends is now generically of going camping in Cornwall versus the colour of Range Rovers (a little harsh but true!).

I am far more comfortable with this 'natural' lowering of the lifestyle bar through the place you live and the people you hang out with, versus having to constantly exclude ourselves from activities things your friends are doing. Threads lamenting that 'I couldn't believe my sister forced us to go to a fancy restaurant and spend $300 on dinner for our parents anniversary' I can get intellectually but feel like a hard way to live, and not what I want to FIRE to.

Specific to you (if I can presume to provide an opinion) but if your imagination has a load of plans for what you would do with a larger stash then I would evaluate those plans with a realistic view of what you would get out of them (appreciating that gold Rolex's tend to only provide fleeting joy) and if that is more than what you would have to put in with extra work - then keep going.

My original RE date was Mar 17 but realised powerfully that this risked missing out on lots of things I genuinely believe will enhance our lives so I pushed this to Mar 19.  We want to go sailing for a year+. Mustachian? Clearly not. Would I regret not doing it? Definitely. Will it be an incredible experience for the family? I certainly hope so!

It is obviously hard as there is no magic number which deals with all the uncertainties inherent in financial planning over long periods. That said, you say you are at 50x a pretty comfortable life by your own definition so without understanding all the complexities, it would seem like that is a pretty big buffer... we could all spend more. What also sounds great for your situation is that DW sound supportive of the plan ("DW is not happy"). Hopefully I am reading that right. I suspect it is more common the other way round with a spouse fearful of some crazy plan to RE ("I think they might be having a mid-life crisis..."). 

I would also encourage you to step back and maintain perspective (I also sometimes lose this - definitely not trying to shame you). You are contemplating how 'luxurious' your imminent retirement might be. We all can wrap ourselves in knots, but "extraordinarily difficult" is something entirely different even if it can feel that way.

We are all grappling with these issues so you are not alone. Good luck!


 


Title: Re: 2019 fire cohort
Post by: PhilB on May 15, 2018, 06:43:54 AM
I too don't find the term 'bare bones' very useful in the context of choosing when to FIRE, primarily because it just doesn't sound like a lot of fun!
I like to turn things round the other way.  I have a 'default' lifestyle in mind that costs very little, but sholud be very enjoyable indeed.  Pottering around the garden, curling up with a book, cooking delicious food, cycling, walking, etc, etc.  I also have a lot of things I'd like to do that are more expensive - domestic and foreign travel, kayaking trips, home improvements, etc.  Given that my stash more than covers my default lifestyle, I have two potential ways to save up money for the more expensive things - I could work for longer, or I could spend a higher proportion of my days in 'default' mode.
When you're only just above 'default' level, it takes a lot of days in default to save as much as one extra day working.  It probably then makes sense to think 'I'd rather work an extra day for x than have to save up for it for a month'.  The more you stash away though, the more you can 'save' per default day and the equation changes.  I've worked on longer than I probably should have and so for me the equation is now that the money I'd earn from an extra work day I could instead save in 3 or 4 default days.  Thought about like that it becomes very clear indeed which I'd rather do.
Title: Re: 2019 fire cohort
Post by: sui generis on May 15, 2018, 12:02:24 PM
9 months from today for me! 

I don't find the barebones concept useful to me in terms of FIRE, either - because I would never RE on barebones.  But, still can be useful in terms of just FI.  I think it's a serious milestone on the FI journey and can be really meaningful depending on one's current situation/employment vs. desired and risk tolerance if they are considering a move.
Title: Re: 2019 fire cohort
Post by: itchyfeet on May 15, 2018, 01:23:26 PM
Hi Edgema

Thanks for your input.

No gold Rolex for me. I have never had a taste for fancy stuff thankfully.

The reason why I am maybe 50x what Iíd accept as a barebones life and not yet 25x my desired post Fire Budget really comes down to a few big elements

1. Housing - I could find something acceptable at a bare bones level, but if we have the money (and we will) then we will live in a more expensive location in a nicer place (not bigger, we donít like big houses). I am budgeting double for housing compared to barebones, so we have plenty of choice over the next 50 years. We have never lived anywhere for more than 5 years so expect we will continue to move around a bit,

2. Travel - We have travelled a lot. We have travelled cheap and we have travelled expensively. I donít disagree with anyone who says you can backpack for a year on $20K, but sometimes travel is even better if you spend more. I could give many examples from my experiences. Not always mind you. Some times spending more is just a waste of money. But for retirement, because we have the option, we want to be able to afford to continue to do some expensive travel for any adventures that take our interest. I will budget 10x barebones travel for desired post fire travel.

3, Eating out - The extra we put in our budget here is just so we can eat out whenever the mood takes us and not have to worry about it. These days we normally have breakfast out once on the weekend, and will eat out prob 2 nights a week. Far from moustachian, but we like to get out with friends, or even just by ourselves.

4. Barebones allows for 1 car. Weíll probably have one car, but I am budgeting for 2. So again doubling the cost.

5. Home remodelling, I assume we will replace kitchen and bathroom every 15 years, and also continue to refit the house periodically. Barebones would allow for older kitchens and bathrooms, being replaced maybe after 30 years.

Our budget will also allow for other luxuries such as gym memberships, theatre/ sports/ concert tickets, sporting equipment, electronic gadgets, pets etc.

Suddenly my FIRE number is big.
Title: Re: 2019 fire cohort
Post by: DreamFIRE on May 15, 2018, 08:01:43 PM
I too don't find the term 'bare bones' very useful in the context of choosing when to FIRE, primarily because it just doesn't sound like a lot of fun!

Fun was actually part of my formula in my previous post that used barebones to help determine the fun amount.
Stash * 4% - (BB+taxes) = FUN  :)
Keeping track of your BB multiple doesn't mean limiting yourself to BB spending, but it's an important variable (that is somewhat constant) in the equation.  I don't know how much I'm really going to end up spending in FIRE, so I don't have a specific dollar amount goal for spending, but at least I know what my BB is, so it's an important piece of the formula.  That makes 63X BB very useful as a single metric.  The extra is for discretionary/fun/vacations.  BB itself is my minimum for FI to get by comfortably with no thrills.  I have a spreadsheet that breaks everything down in various time ranges for more specifics by year and month for all the key amounts, which is where it calculates the $30K/yr discretionary spending for vacations and such.  That's where the truly important figures are when it comes to my FIRE planning and considerations.  But it's a lot easier to just say I'm at 63X BB on here for consistency, and BB is what my 25X original yardstick was based on for FI.  As the stash grows, the multiple grows.

Quote
I have a 'default' lifestyle in mind that costs very little, but sholud be very enjoyable indeed.  Pottering around the garden, curling up with a book, cooking delicious food, cycling, walking, etc, etc.

That "default" sounds a lot like barebones to me, assuming the food isn't too outrageously expensive.  I would just call it barebones to keep things simple.

Quote
I have two potential ways to save up money for the more expensive things - I could work for longer, or I could spend a higher proportion of my days in 'default' mode.  When you're only just above 'default' level, it takes a lot of days in default to save as much as one extra day working.  It probably then makes sense to think 'I'd rather work an extra day for x than have to save up for it for a month'.

I've reread that a few times, but I must be misunderstanding.  For me,  I'm living just a little above barebones (aka default), but I still save 80% by working today with that budget, and I save 80% at the most if I work one day more.  If I don't keep my spending close to barebones, the one more day of work would allow me to save less, not more, than when I'm sticking to barebones.  I don't save any faster by working tomorrow vs. working today.  So it doesn't take me a lot of days with a BB budget to equal one extra day of work.  Each day is the same.  That's where I'm having trouble comparing my situation to your "lot of days in default saving" or "3 or 4 days of saving" vs "one extra day of saving."  I don't see how these days differ for saving if you're still earning the same income and spending about the same.  And "default"/BB spending with the same income should allow you to save more, not less, than ramping up spending and working another day, if that's the alternative to "default" spending.  I'm assuming by one extra day, that you wouldn't reduce spending to LESS than default.  Hmmm

Quote
The more you stash away though, the more you can 'save' per default day and the equation changes.

Regardless of the size of my stash, I still save in the 70% to 80% range of my take home pay.  The equation does change, I might have dropped to 62X BB today with the drop in stocks, plus my homeowners insurance and property tax just went up.  I guess I could always change my living situation to cut on housing costs.

Title: Re: 2019 fire cohort
Post by: PhilB on May 16, 2018, 01:45:30 AM
I too don't find the term 'bare bones' very useful in the context of choosing when to FIRE, primarily because it just doesn't sound like a lot of fun!

Fun was actually part of my formula in my previous post that used barebones to help determine the fun amount.
Stash * 4% - (BB+taxes) = FUN  :)
Keeping track of your BB multiple doesn't mean limiting yourself to BB spending, but it's an important variable (that is somewhat constant) in the equation.  I don't know how much I'm really going to end up spending in FIRE, so I don't have a specific dollar amount goal for spending, but at least I know what my BB is, so it's an important piece of the formula.  That makes 63X BB very useful as a single metric.  The extra is for discretionary/fun/vacations.  BB itself is my minimum for FI to get by comfortably with no thrills.  I have a spreadsheet that breaks everything down in various time ranges for more specifics by year and month for all the key amounts, which is where it calculates the $30K/yr discretionary spending for vacations and such.  That's where the truly important figures are when it comes to my FIRE planning and considerations.  But it's a lot easier to just say I'm at 63X BB on here for consistency, and BB is what my 25X original yardstick was based on for FI.  As the stash grows, the multiple grows.

Quote
I have a 'default' lifestyle in mind that costs very little, but sholud be very enjoyable indeed.  Pottering around the garden, curling up with a book, cooking delicious food, cycling, walking, etc, etc.

That "default" sounds a lot like barebones to me, assuming the food isn't too outrageously expensive.  I would just call it barebones to keep things simple.
I think that depends a lot on how you define 'barebones' - which doesn't seem to be consistent.  Some people would deem it as the minimum they would be happy with, others the minimum they could survive on.  That latter interpretation is what gives it the negative connotations for me and why I avoid it.

Quote
Quote
I have two potential ways to save up money for the more expensive things - I could work for longer, or I could spend a higher proportion of my days in 'default' mode.  When you're only just above 'default' level, it takes a lot of days in default to save as much as one extra day working.  It probably then makes sense to think 'I'd rather work an extra day for x than have to save up for it for a month'.

I've reread that a few times, but I must be misunderstanding.  For me,  I'm living just a little above barebones (aka default), but I still save 80% by working today with that budget, and I save 80% at the most if I work one day more.  If I don't keep my spending close to barebones, the one more day of work would allow me to save less, not more, than when I'm sticking to barebones.  I don't save any faster by working tomorrow vs. working today.  So it doesn't take me a lot of days with a BB budget to equal one extra day of work.  Each day is the same.  That's where I'm having trouble comparing my situation to your "lot of days in default saving" or "3 or 4 days of saving" vs "one extra day of saving."  I don't see how these days differ for saving if you're still earning the same income and spending about the same.  And "default"/BB spending with the same income should allow you to save more, not less, than ramping up spending and working another day, if that's the alternative to "default" spending.  I'm assuming by one extra day, that you wouldn't reduce spending to LESS than default.  Hmmm

Quote
The more you stash away though, the more you can 'save' per default day and the equation changes.

Regardless of the size of my stash, I still save in the 70% to 80% range of my take home pay.  The equation does change, I might have dropped to 62X BB today with the drop in stocks, plus my homeowners insurance and property tax just went up.  I guess I could always change my living situation to cut on housing costs.
I think I understand your confusion.  I'm not talking about spending more or less whilst working to alter my savings rate, I'm talking about the choice between accruing an extra £x to spend on something specific by a) retiring 1 day later, or b) spending a few post-retirement days very cheaply. 
If your full FIRE budget was only $5 a day more than your default / bare bones, then you would have to spend 40 cheap days post retirement to save up $200.  If retiring 1 day later would earn you that $200, then I would lean strongly towards working the extra day.  OTOH, if your full budget was $50 a day more than your default, then it would only take 4 days to save that $200.  To me, four minimal spend days sounds like a holiday and much preferable to an extra day working.  40 sounds like a bit of a penance.
Title: Re: 2019 fire cohort
Post by: DreamFIRE on May 16, 2018, 08:03:12 PM
I think I understand your confusion.  I'm not talking about spending more or less whilst working to alter my savings rate, I'm talking about the choice between accruing an extra £x to spend on something specific by a) retiring 1 day later, or b) spending a few post-retirement days very cheaply. 
If your full FIRE budget was only $5 a day more than your default / bare bones, then you would have to spend 40 cheap days post retirement to save up $200.  If retiring 1 day later would earn you that $200, then I would lean strongly towards working the extra day.  OTOH, if your full budget was $50 a day more than your default, then it would only take 4 days to save that $200.  To me, four minimal spend days sounds like a holiday and much preferable to an extra day working.  40 sounds like a bit of a penance.

Yes, that's it.  I was one word away from realizing you were talking about "FIRE" saving / spending.

That actually is similar to some calculations I've done on the OMY (working to 2020 vs 2019) scenario.  I have a OMY document where I figured out how much I'm likely to add to my investments during the OMY on the job plus the amount of money I won't have to drawdown from stash since I'll being paying bills from my job for OMY.  Combining those, I estimate there's a range of my stash differential of $90K to $115K vs. not working OMY.  $115K would be the differential vs. FIREing in 2019 with a 4% FIRE drawdown while $90K would the differential vs. FIREing in 2019 with a drawdown just $350/mo more than my barebones.   The actual number is probably somewhere in between.  I discount investment performance for this comparison since it's an unknown and would benefit or hurt the bulk of my stash in the same way whether I OMY or not.  That differential is approaching 10% of my current stash by working OMY, which will make it difficult to walk away from if I have any increased concerns or if there are any signs of trouble over the next year, and maybe even if there aren't.  I'm trying to take comfort in the fact that my goal is to FIRE sooner (2019) rather than later (2020).
Title: Re: 2019 fire cohort
Post by: 2Birds1Stone on May 17, 2018, 10:38:03 AM
@markbike528CBX, when you repost an updated list I am moving up to June 1, 2019.

If I'm going to pull the plug in 2019, may as well enjoy the damn summer :)

By June 1, I will have maxed out 401k, Roth IRA, and gotten my remaining 4 SS credits (40 total).
Title: Re: 2019 fire cohort
Post by: SpareChange on May 20, 2018, 06:39:46 PM
Hello all!! I've enjoyed perusing this thread. I'd like to squeeze in here, though I must admit, I'm a poser :). I don't currently plan to FIRE completely, just downshift to PT and keep work simmering on the back burner.   

My workplace and career are very flexible on the number of shifts worked. There's an app we can use to add/trade shifts. Employer doesn't care who works as long as there's coverage, and it's not overtime. I currently plan to continue working FT (at 5-6 days/wk) until my net worth hits at least 300k, and then drop down to a scheduled 16hrs/wk...the minimum needed for health insurance and other bennies. I estimate I'll hit the mark sometime in the spring of 2019. I should be earning 6 wks paid time off a year by then, with 50-60 days sitting in my pto bank. I can easily live on that with room to spare without touching the stash. I can then add shifts occassionally if/when needed for fun stuff. I'll still contribute enough to the 403b to get the match.

No particular desire (yet) to leave career or employer, so I don't perceive working another 10-15 years as a problem. Both are very stable. Also, I don't think I'll be able to do the slow travel thing so much with aging parents. It would take a minimum 5 more years FT to get FIREd, and I don't think that would be the optimal way to go. Just very tired of working FT, and I'm not getting any younger. :).

Anyway, the point of all that is to say that next year is going to be a huge milestone. Probably bigger for me than going from PT to FIREd honestly.
Title: Re: 2019 fire cohort
Post by: 2Birds1Stone on May 20, 2018, 08:15:58 PM
@SpareChange , what do you do?
Title: Re: 2019 fire cohort
Post by: SpareChange on May 20, 2018, 10:32:08 PM
@SpareChange , what do you do?

I'm an xray tech in a medium-sized hospital.
Title: Re: 2019 fire cohort
Post by: markbike528CBX on May 21, 2018, 08:03:51 AM
Most Righteous Alias    Age@fire  Target DateOLY/OMY notes and eventually Date Confirmed
MoneyStacher51Jan-19
PhilB53Jan-19moved to Oct 2018, with possible PT through 2019
sui generis41Feb-15-19
zinnie35Feb-19
MissNancyPryor50Mar-19
Roboturner30Mar-19
exit201940Mar-15-19
TartanTallulah55Mar-31-19moved to 2018 and is back again
EdgemaMar-19
Trifele52April-1-19 WIGLO
HalfStached41Apr-1-19
Luck1241Apr-19
albireo1361May-1-19
Livingthedream5559May-19
cerat0n1aMay-19summer 2018 planned
dude53May-19
SamIAm3829May-19
FIRE 20/2042May-19
Pylortes42May-31-19
Odiedog859062May-31-19
DreamFIREJun-7-19
oldtoyotaJun-19
Itchyfeet47Jun-19
Bateaux50Jun-19
Parizade62Jun-21-19
CryingInThePool44Jun-19
powersuitrecall47Jul-19
Enigma39Jul-19
Thedividebyzero45Jul-19
Canadian Ben29Aug-12-19
Cornbread OMalley42Aug-19
RetirementDreamingSep-19
Spreadsheet ManSep-27-19
VoteCthulu39Oct-19
trix7643Oct-19
MoMan55Oct-19
2Birds1Stone32Jun-1-19
markbike528CBX55Dec-19 OLY 6-1-2018 at 53.5 but checking in as OP
HBFI38Dec-19
luckyme1345Dec-19
moxieDec-27-19
madamwitty36TBD
Lowerbills40TBD
Chrissy42TBD
GerardTBD
getoutsoon52TBD
ysette938late-19TBD
elaine amj40TBD
IplawyerTBD
ChairmanTBDSemiFire 2018
Title: Re: 2019 fire cohort
Post by: markbike528CBX on May 21, 2018, 08:13:22 AM
@markbike528CBX, when you repost an updated list I am moving up to June 1, 2019.

If I'm going to pull the plug in 2019, may as well enjoy the damn summer :)

By June 1, I will have maxed out 401k, Roth IRA, and gotten my remaining 4 SS credits (40 total).

@2Birds1Stone, the mention method got my attention.
You might also note that my date is June 1 for the exactly that reason.    I've also taken my vacation (no payout), so I've been off since May 14th, with a two office days left.   

If anyone would like changes or have seen other changes buried in the thread text,  please mention (@) or PM me.
Title: Re: 2019 fire cohort
Post by: PhilB on May 21, 2018, 10:22:44 AM
@markbike528CBX I've just noticed that I'm still on the list for Jan 2019.  I pulled my date forward to Oct 2018 a few months ago - but I may end up doing some consulting or 1 day a week part time through most of 2019 if they make me a good enough offer!
Title: Re: 2019 fire cohort
Post by: DreamFIRE on May 21, 2018, 08:33:29 PM
June 1 is a Saturday and won't work for me - I'll need to work part of the month so that my employer will subsidize the full month of healthcare.  So, I'll probably work through June 7 unless I can cut out a full month earlier.

New record today - 65X barebones!
Title: Re: 2019 fire cohort
Post by: exit2019 on May 21, 2018, 11:55:23 PM
I appear to be on the list twice.

exit2019   40   Mar-15-19   
 
is the correct one, assuming I give 32-35 days notice (which is expected at my level of seniority; also I want to hang around for the ESPP to release.. )
Title: Re: 2019 fire cohort
Post by: Lews Therin on May 23, 2018, 05:32:40 AM
Double FIRE exit? Impressive.
Title: Re: 2019 fire cohort
Post by: chasesfish on May 23, 2018, 05:01:57 PM
March 8th, 2019
Title: Re: 2019 fire cohort
Post by: 2Birds1Stone on May 23, 2018, 06:38:25 PM
March 8th, 2019

No take backs ;)
Title: Re: 2019 fire cohort
Post by: chasesfish on May 24, 2018, 05:17:00 AM
March 8th, 2019

No take backs ;)

Early 2020's payout is even bigger...then it trails off.   I'm done though
Title: Re: 2019 fire cohort
Post by: dude on May 24, 2018, 07:33:06 AM
So using that table, I calculated that the average age of the 2019 cohort FIREee (for those whose ages are listed) is 45.57.

17 years earlier than the average retiree age (63) in the U.S. - bravo 2019 cohort!
Title: Re: 2019 fire cohort
Post by: Lews Therin on May 24, 2018, 12:13:50 PM
So using that table, I calculated that the average age of the 2019 cohort FIREee (for those whose ages are listed) is 45.57.

17 years earlier than the average retiree age (63) in the U.S. - bravo 2019 cohort!

I'll be 29 at FIRE @markbike528CBX , but my number is not in the chart yet. Hopefully that'll pull the average down a bit.
Title: Re: 2019 fire cohort
Post by: chasesfish on May 24, 2018, 01:34:02 PM
36 here, will still be 36 at retirement date
Title: Re: 2019 fire cohort
Post by: Trifele on May 24, 2018, 04:34:12 PM
June 1 is a Saturday and won't work for me - I'll need to work part of the month so that my employer will subsidize the full month of healthcare.  So, I'll probably work through June 7 unless I can cut out a full month earlier.

New record today - 65X barebones!

@DreamFIRE -- June 1 is a Friday -- might be perfect?
Title: Re: 2019 fire cohort
Post by: 2Birds1Stone on May 24, 2018, 05:59:51 PM
Not in 2019 =D
Title: Re: 2019 fire cohort
Post by: DreamFIRE on May 24, 2018, 06:43:04 PM
Yep, I'm a 2019 cohort.
Title: Re: 2019 fire cohort
Post by: Trifele on May 25, 2018, 05:17:25 AM
Not in 2019 =D

Doh!  I was flipping back and forth late last night between the 2018 and 19 cohorts.  Thought I was in '18.  :)
Title: Re: 2019 fire cohort
Post by: edgema on May 25, 2018, 08:29:24 AM
For the purpose of the age averages, I am on the list as Edgema and will be 42 at my FIRE date next march.
Title: Re: 2019 fire cohort
Post by: PhilB on May 25, 2018, 10:16:28 AM
For the purpose of the age averages, I am on the list as Edgema and will be 42 at my FIRE date next march.
If I still got included in the average age calc, despite my OLY, I should really be 52 not 53 - 53 was from my original July 19 date.  More to the point, you guys are making me feel ancient!
Title: Re: 2019 fire cohort
Post by: 2Birds1Stone on May 25, 2018, 12:55:15 PM
So using that table, I calculated that the average age of the 2019 cohort FIREee (for those whose ages are listed) is 45.57.

17 years earlier than the average retiree age (63) in the U.S. - bravo 2019 cohort!

That's awesome.

Mine will be a Semi-Fire, but I'm still pumped to be ~13.5 years younger than the cohort average, and 31 years younger than the US average.
Title: Re: 2019 fire cohort
Post by: Trifele on May 25, 2018, 01:57:16 PM
For the purpose of the age averages, I am on the list as Edgema and will be 42 at my FIRE date next march.
If I still got included in the average age calc, despite my OLY, I should really be 52 not 53 - 53 was from my original July 19 date.  More to the point, you guys are making me feel ancient!

Yeah, I'm feeling old too PhilB . . . I'll be either 51 or 52 depending on the exact date I pull the plug.  :)
Title: Re: 2019 fire cohort
Post by: Bateaux on May 25, 2018, 03:05:54 PM
I'm buying another house.   Looks like 2020 or later for me.  I'm of the pay the mortgage off camp.   Hoped to be done at 50.  Will likely be 51or 52.
Title: Re: 2019 fire cohort
Post by: exit2019 on May 30, 2018, 09:50:34 PM
New way of avoiding a focus on the clock: reading the 2018 cohort thread.  it's actually pretty interesting how many people are confirmed at this point in the year. 
Title: Re: 2019 fire cohort
Post by: itchyfeet on May 30, 2018, 10:13:57 PM
So that is May done and dusted. Not a good month financially. Itís the first month in more than 2 years that DW and I have spent every cent we earned. Whoops. The money slipped through our hands in a myriad of ways but mostly was spent booking flights etc for our summer vacation extravaganza. Topping off the May madness spending was barely positive investment returns for the month.

May was a big fat financial doughnut! Zero progress.

I am now 5 months into what was meant to be my last year of working and my resolve is cracking. DW and I have been looking online at houses to FIRE to and the ones we like are a more than our current financial position would allow. We are also thinking a slightly larger travel budget would be nice, and DW is pushing for more contingency (classic OMY syndrome).

So what are we going to do???? F@ck knows.

D-Day is fast approaching. If I will resign in December I will need to tell my employer early September. 3 months to decide my fate. Eek.

We have many options
 - The lowest risk and least fun: keep working for a couple more years. 2 would do it.
 - We could just FIRE and live within our means. Hardly radical, but maybe we will regret not having made the effort to earn that little extra cream
 - We could quit, travel for as long as we wanted to, repatriate to Australia and find new jobs. I would be paid far less in Oz compared to my nice expat package, assuming I could find a decent job. My CV is atypical (not in a good way) which concerns me. But being back in Oz near family is one of our motivations to FIRE.
 - We could FIRE on a tight budget for 5-10 years and let our stash grow, and then buy the place we want. DW would do some casual work in the mean time to top up the savings, or give us a little extra fun money. I think that this is rather risky. Will we really spend 30% less than what weíd like to. Certainly feasible but....

3 months to make up my mind. D-day (decision day) is rapidly approaching.

Title: Re: 2019 fire cohort
Post by: Linea_Norway on May 31, 2018, 12:50:25 AM
I would appreciate it if you would contribute to my thread here, since it is a major part of our FIRE moment:

https://forum.mrmoneymustache.com/real-estate-and-landlording/when-is-a-smart-time-for-us-to-sell-our-house/

(I will also post it in the 2020 thread.)
Title: Re: 2019 fire cohort
Post by: PhilB on May 31, 2018, 02:52:18 AM
So that is May done and dusted. Not a good month financially. Itís the first month in more than 2 years that DW and I have spent every cent we earned. Whoops. The money slipped through our hands in a myriad of ways but mostly was spent booking flights etc for our summer vacation extravaganza. Topping off the May madness spending was barely positive investment returns for the month.

May was a big fat financial doughnut! Zero progress.

I am now 5 months into what was meant to be my last year of working and my resolve is cracking. DW and I have been looking online at houses to FIRE to and the ones we like are a more than our current financial position would allow. We are also thinking a slightly larger travel budget would be nice, and DW is pushing for more contingency (classic OMY syndrome).

So what are we going to do???? F@ck knows.

D-Day is fast approaching. If I will resign in December I will need to tell my employer early September. 3 months to decide my fate. Eek.

We have many options
 - The lowest risk and least fun: keep working for a couple more years. 2 would do it.
 - We could just FIRE and live within our means. Hardly radical, but maybe we will regret not having made the effort to earn that little extra cream
 - We could quit, travel for as long as we wanted to, repatriate to Australia and find new jobs. I would be paid far less in Oz compared to my nice expat package, assuming I could find a decent job. My CV is atypical (not in a good way) which concerns me. But being back in Oz near family is one of our motivations to FIRE.
 - We could FIRE on a tight budget for 5-10 years and let our stash grow, and then buy the place we want. DW would do some casual work in the mean time to top up the savings, or give us a little extra fun money. I think that this is rather risky. Will we really spend day 30% than what weíd like to. Certainly feasible but....

3 months to make up my mind. D-day (decision day) is rapidly approaching.
Hate to be the one to break it to you, but May has 31 days!

I feel for your dilemma, even if I did approach it from the other side - baked loads of excess into the plan then ended up deciding to OLY.  All I can share is that what really helps me know we have enough is the thought of taking a vacation to Mustache land - If I want to spend x amount of money on something then I'd need to save up for it by being 'properly' mustachian for y weeks.  Does that sound like a fun and relaxing staycation or hard work?  If the former then you definitely have enough.  If the latter then maybe not.
Title: Re: 2019 fire cohort
Post by: Trifele on May 31, 2018, 04:56:59 AM
So that is May done and dusted.

Hate to be the one to break it to you, but May has 31 days!


I believe Itchy is many hours ahead of the time showing on his post, since that is US mountain time I believe.  Not sure exactly where Itchy is at the moment (maybe SE Asia?)
Title: Re: 2019 fire cohort
Post by: itchyfeet on May 31, 2018, 05:08:54 AM
Actually, I am living in the Middle East, and i was taking a punt nothing dramatic would happen to my finances today. It was already mid afternoon in Australia, where most of my asset exposure is, and I wast going to spend any money sitting at my desk today.
Title: Re: 2019 fire cohort
Post by: Linea_Norway on May 31, 2018, 05:48:11 AM
Actually, I am living in the Middle East, and i was taking a punt nothing dramatic would happen to my finances today. It was already mid afternoon in Australia, where most of my asset exposure is, and I wast going to spend any money sitting at my desk today.

Credit cards, internet bank and paypal give you great opportunity to spend money at your desk. I pay most of my bills automatically or from my desk.
Title: Re: 2019 fire cohort
Post by: itchyfeet on May 31, 2018, 06:23:33 AM
Haha. I can see you are all telling me not to count my financial chickens before they hatch.

I didnít plan on paying any bills today and So far so good.

I have made it to 4.20pm without damaging my financial position.

Iíll stay out of the pub tonight just to be sure I am not fined by the Calendar Police for fraudulently pushing any small cash outs into my June numbers..... so much for that pint.... maybe I can find some coins down the back of the sofa.
Title: Re: 2019 fire cohort
Post by: edgema on May 31, 2018, 07:01:34 AM
Itchyfeet.

The only thing I would say is that I find it easier to find reasons why now is not the right time, especially as you get close to the FIRE date where real action is necessary (like resigning!). Not FIREing might be day-to-day wrong, but will feel year-to-year right (more stash and only a year older!), yet still wrong looking back over life from old age.   

At least when I was nearing my original FIRE date early this year, I found ways to convince myself that I didn't have enough, when actually my financial position was objectively better than forecast. Was the number too low, or is it just 'easier' not to make the decision and keep going? Hard to say. My brain moved the goalposts to give me a 'rational' reason why I needed to do OMY which is easier than admitting that you are just scared. I don't regret the OMY and feel much safer doing it, but sincerely hope I do not do the same in 6 months time. Cannot guarantee that though!

Another thing I did, and perhaps you are, is that you start to price up some of the things you want to buy on retirement (like houses if you are moving), and I think it is natural that you start to look a things just a bit too expensive compared to what you have budgeted. All of a sudden you don't have enough. My amateur psychology is that this is another way your brain tries to convince itself not to make this major life decision. It may not be the case for you, but are you secretly looking at houses which are more expensive than you really need/want?

Finally, we all probably look at our stashes too often, but my observation would also be that if you even care/know what your stash did on any given month then it is probably not big enough as if there was sufficient buffer then you wouldn't. Thought experiment; you retire and see your stash go down 10% the next month, how do you feel? If the feeling would be panic then you are not ready / stash isn't large enough IMO.
Title: Re: 2019 fire cohort
Post by: itchyfeet on May 31, 2018, 01:19:48 PM
Thanks Edgema for your thoughts.

The thought of my stash going up or down 10 or even 20% doesnít bother me so much. I believe deep inside me that in the long term the markets will go up, so donít fear fluctuations, and in any case I have rental income, dividends and a pension as part of my post FIRE income, so take comfort from that too. I currently follow my stash very closely because I enjoy doing so. Also, I donít want to have unrealistic expectations of how much spending my stash can support post FIRE, so I am testing sensitivities very carefully and over analysing the numbers. I enjoy passing milestones, seeing trends and dreaming of how I will spend the money once I stop working my life away. Itís an addiction.

As to the rest of your email. I agree 100% that I am putting barriers between myself and FIRE. I have a fairly high NW by MMM standards, and most on this forum would happily FIRE with my stash. I will never go hungry and will afford a comfortable life even if I cut spending by 25%. My indecisiveness is motivated by healthy doses of both fear and greed.

On the other hand, as all of us at the finale of our FIRE marathon know, a little extra work at the very end can go very far.

There are three factors driving this - a career in full flight, a big pile of money feeding feverishly off itself, and with all basic expenses covered every extra dollar goes straight to funding guilty pleasures. A little can go a long way.

The battle is to recognise that this greed is actually stealing from my life. I understand this......but.....

Look, August will soon be here, and a decision will be made, and thatíll be that.

Many times in my life I have struggled with big decisions. But to date, I have never regretted taking the time to come to the right decision. I feel generally I make good decisions. I am sure I will here too.
Title: Re: 2019 fire cohort
Post by: DreamFIRE on May 31, 2018, 07:14:52 PM
Finally, we all probably look at our stashes too often, but my observation would also be that if you even care/know what your stash did on any given month then it is probably not big enough as if there was sufficient buffer then you wouldn't.

My stash is at 80X barebones, and about 65X FIRE bare bones (includes additional dollars for expected health care coverage cost during FIRE.)  And it only needs to last me 15 years.  With a 4% SWR, my buffer should be sufficient - almost $30K/yr for discretionary spending OVER regular expenses.  But I still look at my accounts and add up my total stache accounts frequently, although I was doing that most frequently when stock indexes were hitting record highs.  It's just fun and positive reinforcement, not due to any worries or concerns.  It sometimes seems surreal to have gotten to this point, and I like the feeling I get adding it up.  A 10% drop is pretty meaningless.  I already suffered that earlier this year in most of my stock funds and have since set a new record stash level.  I'm slowly moving to a more conservative AA as I approach a 2019 FIRE date making such a drop in stocks even less of a factor after I FIRE.  I might relocate when I FIRE, but I'm not looking to upgrade to more expensive housing.  I want to keep those extra dollars in the discretionary bucket for entertainment, travel, and other discretionary spending, and always being able to cut back on that spending if I see fit.
Title: Re: 2019 fire cohort
Post by: Bateaux on May 31, 2018, 09:19:48 PM
When I first joined MMM years ago 2018 was my proposed Fire year.  I'd hope to be hiking the Appalachian Trail right now.   I've OMY'd to 2019 and since we're buying another house we're probably going to 2020.  Currently in Cabo San Lucas enjoying luxury in a 5 star resort beside the ocean.  I want to live day to day Mustacian but a few weeks a year I'd like to do this. 
Title: Re: 2019 fire cohort
Post by: 2Birds1Stone on May 31, 2018, 09:25:38 PM
I think all of you are posting in the wrong thread now ;)
Title: Re: 2019 fire cohort
Post by: Trifele on June 01, 2018, 04:31:09 AM
Ok -- I'll give a "skinny FIRE" update to balance out the upthread comments:  :)

I'm currently at 21X bare bones, and hell yes I am going to pull the plug anyway.   I have a small side gig I am keeping, and a spouse who can work if need be, so FIRE here I come.  We live pretty simply, and I think we will figure it out.

It all comes down to Bateaux's comment about work stealing your life.  Yes, exactly.  Out of the blue I was diagnosed with a serious cancer two years ago, and let me tell you -- that shit will change your outlook instantly.  All's well for now health-wise, and I want this time.  Not ten-years-in-the-future time. 
Title: Re: 2019 fire cohort
Post by: Bateaux on June 01, 2018, 07:22:13 AM
I think all of you are posting in the wrong thread now ;)

Could still be 2019 for us.  We'll see what life sends.
Title: Re: 2019 fire cohort
Post by: Bateaux on June 01, 2018, 07:24:38 AM
Ok -- I'll give a "skinny FIRE" update to balance out the upthread comments:  :)

I'm currently at 21X bare bones, and hell yes I am going to pull the plug anyway.   I have a small side gig I am keeping, and a spouse who can work if need be, so FIRE here I come.  We live pretty simply, and I think we will figure it out.

It all comes down to Bateaux's comment about work stealing your life.  Yes, exactly.  Out of the blue I was diagnosed with a serious cancer two years ago, and let me tell you -- that shit will change your outlook instantly.  All's well for now health-wise, and I want this time.  Not ten-years-in-the-future time.

Good luck with the cancer.  We've faced that monster as well with our son.  Keeping him with health insurance is part of why we have to OMY.
Title: Re: 2019 fire cohort
Post by: edgema on June 01, 2018, 07:41:36 AM
Don't take me off 2019! I am very committed to my March date as this is my OMY (perhaps even the second of them.... ish). Maybe it is the luxury of still being 9 month from actually resigning but for some reason I feel much more relaxed that I will not have the same fears going into this date.

I really like the 'work stealing life comment' and is a much better way of putting what I was trying to get across with the 'wrong looking back over life' comment. The difficult thing is that it is hard to feel that viscerally as it is like a mouse nibbling at your time which each day doesn't feel too bad when compared with the massive decision to retire at an age when most think you are mad.
Title: Re: 2019 fire cohort
Post by: itchyfeet on June 01, 2018, 07:49:43 AM
I often think I am mad.

Beyond DW, I havenít hinted at my plans to anyone.
Title: Re: 2019 fire cohort
Post by: PhilB on June 01, 2018, 09:47:00 AM
I think all of you are posting in the wrong thread now ;)

Could still be 2019 for us.  We'll see what life sends.
It's going to be interesting to see what proportion of the 'actual' 2019 cohort turn out to be OMYers from 2018 and OLYers from 2020!
Title: Re: 2019 fire cohort
Post by: Lews Therin on June 01, 2018, 09:49:07 AM
I think all of you are posting in the wrong thread now ;)

Could still be 2019 for us.  We'll see what life sends.
It's going to be interesting to see what proportion of the 'actual' 2019 cohort turn out to be OMYers from 2018 and OLYers from 2020!

None! We'll tell them to get out of our collective yards.

Correction - OLY Are welcome. OMY... Just FIRE already! :D
Title: Re: 2019 fire cohort
Post by: itchyfeet on June 01, 2018, 10:31:01 AM
🤣
Title: Re: 2019 fire cohort
Post by: Trifele on June 01, 2018, 04:56:21 PM
Ok -- I'll give a "skinny FIRE" update to balance out the upthread comments:  :)

I'm currently at 21X bare bones, and hell yes I am going to pull the plug anyway.   I have a small side gig I am keeping, and a spouse who can work if need be, so FIRE here I come.  We live pretty simply, and I think we will figure it out.

It all comes down to Bateaux's comment about work stealing your life.  Yes, exactly.  Out of the blue I was diagnosed with a serious cancer two years ago, and let me tell you -- that shit will change your outlook instantly.  All's well for now health-wise, and I want this time.  Not ten-years-in-the-future time.

Good luck with the cancer.  We've faced that monster as well with our son.  Keeping him with health insurance is part of why we have to OMY.

Thanks Bateaux -- appreciate that.  All good right now, knock on wood.  Hope your son is doing ok as well.  And I hear you about insurance.  I can't go without, and we don't know what the future is going to hold.  It is very worrisome.  If the ACA were to totally go away, either I would have to keep working, or my spouse (currently a SAHP) would need to find a job with insurance.  Not the relaxing FIRE we are hoping for.
Title: Re: 2019 fire cohort
Post by: DreamFIRE on June 02, 2018, 02:29:57 PM

The uncertainty over ACA is one reason I never planned on being a 2018 FIRE cohort.   Stash is not a problem at all for me, hitting a new record of 66X FIRE BB as of yesterday, which gives me plenty for discretionary spending when using a 4% SWR, but that's dependent on ACA PTC.  Without ACA and PTC, healthcare insurance would really bite into what I'm wanting to keep in the discretionary budget.  I'm hoping this final year towards FIRE will provide some confidence on this matter.
Title: Re: 2019 fire cohort
Post by: FIRE 20/20 on June 02, 2018, 03:22:25 PM
We hit a milestone today, crossing over 25x anticipated expenses in retirement in the stache.  That doesn't include the back-up plans we have in place including 2 small pensions, 2 social security checks, an ability to cut expenses if necessary, tentative arrangements for consulting with the company I work for, and doesn't count a likely modest inheritance.  We'd like to fund a donor advised fund this year and that will reduce the funds we have accessible while we wait for the first rung of the Roth ladder to show up in 5+ years, and I'm worried about the current market valuations and the ACA.  Nevertheless, for the first time it is starting to really feel like we will never *need* to work again.  I think I'm feeling about 5% of what I'm going to feel on my last day at work.  OMY has a firm grip on me so I am still planning to FIRE in about a year at age 42, but this feels like a significant milestone. 

Title: Re: 2019 fire cohort
Post by: itchyfeet on June 02, 2018, 09:13:35 PM
Awesome work. Sounds like you are ready for launch. Let the final countdown begin.
Title: Re: 2019 fire cohort
Post by: SpareChange on June 03, 2018, 09:23:41 AM
We hit a milestone today, crossing over 25x anticipated expenses in retirement in the stache.  That doesn't include the back-up plans we have in place including 2 small pensions, 2 social security checks, an ability to cut expenses if necessary, tentative arrangements for consulting with the company I work for, and doesn't count a likely modest inheritance.  We'd like to fund a donor advised fund this year and that will reduce the funds we have accessible while we wait for the first rung of the Roth ladder to show up in 5+ years, and I'm worried about the current market valuations and the ACA.  Nevertheless, for the first time it is starting to really feel like we will never *need* to work again.  I think I'm feeling about 5% of what I'm going to feel on my last day at work.  OMY has a firm grip on me so I am still planning to FIRE in about a year at age 42, but this feels like a significant milestone.

Amazing. Almost there! Looks like you've thought everything through pretty well.
Title: Re: 2019 fire cohort
Post by: Linea_Norway on June 03, 2018, 12:19:55 PM
DH and I talked a bit more about our FIRE date. He likes to have a little more financial security so that a 10-20% crash in the stock market isn't a problem for FIRE.
We also discussed what working PT would cost. We think that working 20% less hours (4 days a week working) would only lead to 15% less income, as we pay high taxes on high income bracket. DH thinks we only need to work 5 weeks longer if we work only 4 days a week from now on. We have decided that I will ask my job to work 4 days a week from half of august. I hope they will accept that. Then DH will ask for the same. I will use DHs heart issues as an argument and say that we need to travel away during the weekends more often.

This plan made my day. As I think we could FIRE somewhere during the first half of 2019, I would mind working only 5 weeks longer, especially 4 days a week.

DH also thinks he wants to continue to work as long as he has his current heart issues. We have normal health insurance by paying our taxes, but the extra health insurance that our companies offer give you a prioritized place for operations. On the other hand, this costs about 700-800 US dollars a year to buy privately, so we could consider to buy it anyway.
Title: Re: 2019 fire cohort
Post by: Linea_Norway on June 05, 2018, 01:37:56 AM
I just discovered an error in my Excel sheet. I had a formula calculating how much I would have left in 2019. Somehow I had taken our salaries before taxes, minus all the taxes = savings. I just totally forgot to register the yearly expenses. I corrected the formula and it added 50.000 USD more to our FIRE amount. Therefore I think we cannot quit early 2019 and probably need to work through most of 2019.
DH and I have been discussing asking to work 80% after the summer. I think we will still consider this. We are both tired of working 100%, so this would be good for our sanity anyway. But it will probably move FIRE to 2020. I am already in that 2020 FIRE cohort thread, as I wasn't sure about the date.
Title: Re: 2019 fire cohort
Post by: itchyfeet on June 06, 2018, 12:19:50 PM
Most Righteous Alias    Age@fire  Target DateOLY/OMY notes and eventually Date Confirmed
MoneyStacher51Jan-19
PhilB53Jan-19moved to Oct 2018, with possible PT through 2019
sui generis41Feb-15-19
zinnie35Feb-19
MissNancyPryor50Mar-19
Roboturner30Mar-19
exit201940Mar-15-19
TartanTallulah55Mar-31-19moved to 2018 and is back again
EdgemaMar-19
Trifele52April-1-19 WIGLO
HalfStached41Apr-1-19
Luck1241Apr-19
albireo1361May-1-19
Livingthedream5559May-19
cerat0n1aMay-19summer 2018 planned
dude53May-19
SamIAm3829May-19
FIRE 20/2042May-19
Pylortes42May-31-19
Odiedog859062May-31-19
DreamFIREJun-7-19
oldtoyotaJun-19
Itchyfeet47Jun-19
Bateaux50Jun-19
Parizade62Jun-21-19
CryingInThePool44Jun-19
powersuitrecall47Jul-19
Enigma39Jul-19
Thedividebyzero45Jul-19
Canadian Ben29Aug-12-19
Cornbread OMalley42Aug-19
RetirementDreamingSep-19
Spreadsheet ManSep-27-19
VoteCthulu39Oct-19
trix7643Oct-19
MoMan55Oct-19
2Birds1Stone32Jun-1-19
markbike528CBX55Dec-19 OLY 6-1-2018 at 53.5 but checking in as OP
HBFI38Dec-19
luckyme1345Dec-19
moxieDec-27-19
madamwitty36TBD
Lowerbills40TBD
Chrissy42TBD
GerardTBD
getoutsoon52TBD
ysette938late-19TBD
elaine amj40TBD
IplawyerTBD
ChairmanTBDSemiFire 2018

After my minor crisis of confidence at the end of May, I have managed to come to a final decision.

No more doubts. no more hesitation. No more hedging.

We will stick to what was the original plan. June 2019. Could have done that all along and saved months of restless sleeping as I agonised over a December 2018 curtain on my career.

December 2018 just felt uncomfortable. June 2019 feels far better. Just 12 months till the end now.

The little bit extra that weíll save in 6 months seems to have some meaning. So weíll run with that.

Phew!!! Great to close that subject.
Title: Re: 2019 fire cohort
Post by: Livingthedream55 on June 06, 2018, 01:12:48 PM
@itchyfeet    good for you!

I am already at "my number" but am saving right now to further add cushion and safety and piece of mind! A year will be here before we know it!
Title: Re: 2019 fire cohort
Post by: MaybeBabyMustache on June 06, 2018, 05:04:08 PM
It looks like I will most likely be joining the 2019 FIRE cohort. I was originally scheduled for 6/25/18 (so close!), but a few work things have come up that I would like to see finish. My very tentative date is now 3/25/18.
Title: Re: 2019 fire cohort
Post by: 2Birds1Stone on June 06, 2018, 07:27:17 PM
Fuck, this is the most melodramatic cohort I've witnessed. Makes me want to pull the plug in 2018 with all the cool cats ;)

Title: Re: 2019 fire cohort
Post by: DreamFIRE on June 06, 2018, 08:55:25 PM
I just discovered an error in my Excel sheet. I had a formula calculating how much I would have left in 2019. Somehow I had taken our salaries before taxes, minus all the taxes = savings. I just totally forgot to register the yearly expenses. I corrected the formula and it added 50.000 USD more to our FIRE amount. Therefore I think we cannot quit early 2019 and probably need to work through most of 2019.

Oh bummer!  I had an error in my spreadsheet a while back.  I noticed the tax numbers didn't look quite right 16 years into the future, and I determined a formula was factoring in the tax on part of those future SS benefits, but another formula added those taxable SS benefits to my AGI and was adding the tax on that figure, so my total tax was incorrectly elevated.  I fixed it, and the change was in my favor, albeit not one that would have changed my FIRE plans.
Title: Re: 2019 fire cohort
Post by: chasesfish on June 06, 2018, 09:07:07 PM
Fuck, this is the most melodramatic cohort I've witnessed. Makes me want to pull the plug in 2018 with all the cool cats ;)

A few more market days like today might kick some more people back to '18.  I just blew through some of my June 2018 projections
Title: Re: 2019 fire cohort
Post by: DreamFIRE on June 06, 2018, 09:12:42 PM
@itchyfeet    good for you!

I am already at "my number" but am saving right now to further add cushion and safety and piece of mind! A year will be here before we know it!

I just hit 67X FIRE barebones today, another new record for me.  While I like counting up the numbers and am saving over 80% this year so far, my wait until 2019 is more about ACA/healthcare.  The uncertainty with that is why 2018 was never a consideration for me.  The extra stash is a nice plus, of course.  I won't discount the possibility of OMY to 2020, but my focus is 2019 at this point.... almost exactly one year to my FIRE date.  It doesn't seem so far off now.
Title: Re: 2019 fire cohort
Post by: itchyfeet on June 06, 2018, 09:34:23 PM
Fuck, this is the most melodramatic cohort I've witnessed. Makes me want to pull the plug in 2018 with all the cool cats ;)


Haha. Itís just the storm before the calm. The RE version of pre-wedding jitters. Next year weíll be cooler than cool.
Title: Re: 2019 fire cohort
Post by: waffles on June 07, 2018, 06:05:09 PM
I am joining this group for a 2019 retirement!

I've been spending lots of time considering my retirement date (hence the username waffles...too much time spent waffling!). Itchyfeet, everything you posted in May sounded just like my thoughts lol. But I am settling on a date of June 22, 2019. I'll be 52.

I have a high stress job that I am ready to be done with. Part time is not an option. (There is a small chance of retiring September 2018 if the federal government changes retirement rules for 2019 but I think that is unlikely right now.) I was considering Dec.31 2018, but it just didn't feel right even though not going into work anymore sounds so good! Once I came up with the plan of maxing out my TSP contributions in the first half of 2019 and leaving in June, it just felt right. I'm appeasing my financial trepidation by getting my 2019 retirement contributions in, without working a full year...win! All the overtime I am likely to have to work will help pay for those contributions.

Also, DH will retire the end of June 2019...I'll beat him by about a week. Perfect!

I'm so excited I even got a countdown ticker lol.
Title: Re: 2019 fire cohort
Post by: Trifele on June 08, 2018, 04:59:54 AM
Welcome Waffles!  2019 is going to be a fine year.
Title: Re: 2019 fire cohort
Post by: PhilB on June 08, 2018, 07:34:24 AM
It's looking increasingly like they are going to offer me a one-day-a-week from home deal for a few months.  On the downside, that means less of a clean break.  On the upside, I get to retire in the autumn with the 2018 cohort and then do it again in the spring with you lot!
Title: Re: 2019 fire cohort
Post by: Linea_Norway on June 08, 2018, 11:22:32 AM
It's looking increasingly like they are going to offer me a one-day-a-week from home deal for a few months.  On the downside, that means less of a clean break.  On the upside, I get to retire in the autumn with the 2018 cohort and then do it again in the spring with you lot!

This still sounds like a good deal.
Title: Re: 2019 fire cohort
Post by: DreamFIRE on June 11, 2018, 09:05:00 PM

I never posted my FI or $1M milestones, so I'll post this one.  I hit $1.3M today.  One year to FIRE target date.
Title: Re: 2019 fire cohort
Post by: itchyfeet on June 11, 2018, 09:53:02 PM
Having made a firm decision, my mind has now shifted to post FIRE. We have big travel plans, and the mind is wandering there.

Between now and then though is a pesky year of work.

I will have quite a few changes to my team over this summer with 2 new direct reports coming on, and some other changes in the team. Hopefully the fresh blood in the team will give me some additional motivation/ inspiration for my last year. I really need to lift my game. Yes, I know it doesnít really matter, but i guess there is some pride at stake..... and you never know what the future might have in store.

Next week we are off to Italy for a wedding. This whole destination wedding fad is really pretty selfish, even though I recognize it is the bride and grooms special day and they have dreamt of this for a long time. I will be part of the bridal party and flights, car rental, my new tailored suit, DWs new frock and shoes etc are costing a bomb. Despite all that, itíll be awesome to see 2 of our best friends tie the knot..... and really who can ever complain about a few days in Italy. I am sure it will be a memorable trip.


Title: Re: 2019 fire cohort
Post by: MaybeBabyMustache on June 12, 2018, 07:53:41 AM

I never posted my FI or $1M milestones, so I'll post this one.  I hit $1.3M today.  One year to FIRE target date.

Awesome!
Title: Re: 2019 fire cohort
Post by: Cornbread OMalley on June 12, 2018, 04:42:18 PM
I announced on June 1st to the head shed my intent to retire from the military.  The big boss and second-in-charge seemed very supportive.  Today I scheduled two 3-hour briefings on June 21st.  Those briefings will lay out the tasks and requirements I will need to do over the next year to retire from the military.  It's going to be a busy year ahead!
Title: Re: 2019 fire cohort
Post by: SpareChange on June 13, 2018, 10:56:39 AM
I announced on June 1st to the head shed my intent to retire from the military.  The big boss and second-in-charge seemed very supportive.  Today I scheduled two 3-hour briefings on June 21st.  Those briefings will lay out the tasks and requirements I will need to do over the next year to retire from the military.  It's going to be a busy year ahead!

Congrats!
Title: Re: 2019 fire cohort
Post by: gerardc on June 13, 2018, 07:01:28 PM
I'm currently looking at April 1, 2019. I should be around $1.1M then, market cooperating. Not sure what I'll do exactly. I'm looking into remote, PT consulting. Or maybe just a 2-3 year break then I might work again in my 40s or something.

The timing is kind of awkward, because I'll probably want to work again in the future, but I do want to have some time for myself sooner rather than later. I would probably have done this break sooner if it weren't for the high comp that I'm getting now (software), that I kind of had to "take it while it's there".

I'm looking forward to traveling, getting into great shape, having fun, etc. We'll see how long that lasts.
Title: Re: 2019 fire cohort
Post by: itchyfeet on June 13, 2018, 09:38:51 PM
I'm currently looking at April 1, 2019. I should be around $1.1M then, market cooperating. Not sure what I'll do exactly. I'm looking into remote, PT consulting. Or maybe just a 2-3 year break then I might work again in my 40s or something.

The timing is kind of awkward, because I'll probably want to work again in the future, but I do want to have some time for myself sooner rather than later. I would probably have done this break sooner if it weren't for the high comp that I'm getting now (software), that I kind of had to "take it while it's there".

I'm looking forward to traveling, getting into great shape, having fun, etc. We'll see how long that lasts.

I am also in the boat of ďnever saying neverĒ to the prospect of working again in the future. At a minimum Iíll take a year off and then reassess. DW and I will have enough stash to never work again, but if I find a good job that inspires me, then why not. DW plans on working casual, part time as a teacher post FIRE. Like, maybe 50-100 days work a year.
Title: Zero progress update
Post by: Thedividebyzero on June 16, 2018, 03:47:46 AM
Life has been quite hectic since first posting in the 2019 FIRE cohort thread.  Thought I would check in and give a quick update on our progress.

  The Zeroes are still on track for July 2019.  Only changes to our plans are:
-  Stache projection has grown.  Expect to be at 28X expected FIRE spending and more than 50X barebones by next July.
-  although work is grinding me to the bone, I am keeping the idea open that I may work until Dec 2019 if my employer is willing to accept me working from the location of my choosing.  Plan is to inform my employer in Jan 2019 of my intention to move to our retirement location in Jul 2019.  Whether that means resigning or continuing to work will be up to them and the overall level of sucktitude I am enduring at that moment.

I have serious short timers disease.  But I have to admit that having a sizable FU stache makes dealing with difficult moments at work much easier. 

Good luck to all of you.  2019 or bust!

- Zero


Title: Re: 2019 fire cohort
Post by: 2Birds1Stone on June 16, 2018, 05:50:14 AM
Using trailing 12 month expenses ($21,760), I am sitting at 18.5x, which equates to a 5.4% withdrawal rate.

Last July was very spendy, so those 12 month expenses will look look much better next month and if market co-operates I should hit 20X+ expenses by end of July.

50 more weeks!
Title: Re: Zero progress update
Post by: tooqk4u22 on June 18, 2018, 09:00:22 AM
I have serious short timers disease.  But I have to admit that having a sizable FU stache makes dealing with difficult moments at work much easier. 

Mine is at all time highs, there is no cure.  I thought I would feel more like you but having the FU stash makes it that more difficult for me. 
Title: Re: 2019 fire cohort
Post by: sisto on June 18, 2018, 09:53:31 AM
I'm going to lurk here for a bit. My original date is June 7, 2021, but I've recently been thinking about pulling the plug early and moving to Mexico. So this would pull me by 2 years, I'll stick a pin in it for now.
Title: Re: Zero progress update
Post by: DreamFIRE on June 18, 2018, 04:03:17 PM